RD
It looks like Oilex were previously considering the possibility of much longer horizontals than the 633m run at 76H.
From the Quarterly Report of 31 December 2011, dot pnt 3. http://www.oilex.com.au/docs/defaul...to-shareholders-31-december-2011.pdf?sfvrsn=2
"The Company’s revised well production profile models for Cambay-76H that incorporate post fracture data indicate Estimated Ultimate Recoverable Volumes in excess of 3 BCFE. This is very encouraging for the performance of future production wells which are expected to have a horizontal length two to three times greater than the Cambay-76H proof of concept well."
If Oilex could successfully roll out that sort of lateral of ~1500m, it would surely lift the commerciality of their Cambay operations, considering our current runt of 350m at the 77H concept well.
OEX Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held