Obviously the recoverable 2P gas resource is very signficant and...

Obviously the recoverable 2P gas resource is very signficant and valuable to Oilex:
"Gross Proved + Probable (2P) Reserves of 206 Bcf gas and 8.0 MMbbls of condensate (C5+) in the Y zone - (Oilex net working interest 93 Bcf gas and 3.6 MMbbls of C5+)"

So looking forward (and excluding the deeper horizons and very probable resource upgrades), the Oilex interest is:
93 billion CF (present price US$8 MSCF gas price - from Jan 2015 report) would have a value of US$744,000,000.
Add 3.6MMbbls of condesate/oil at say $55 = US$198,000,000 and the total value is close to a billion US$.

If we consider the relatively low lifting, production, processing and transportation costs to a nearby receptive and growing market - the potential is very good for Oilex.

The above assumes my math is correct (and remember 4 out of 3 people have trouble with maths).

joatmon