Nah it’s not the AGM, it is just the risk profile at this stage...

Nah it’s not the AGM, it is just the risk profile at this stage of the drill. I know from prior experience that the market gets excited at gas and oil shows at TD, however there is a huge amount of risk in this drill still to be removed. I lost a huge amount of money a few years ago in a stock called Golden State (GDN). They were masters at putting out company announcements every other day when drilling announcing gas encountered etc. Every time the stock would pump up to only then crash back down again. They use to put out the casing successful announcements etc. However they could never get their wells flowing commercial despite high gas pressure during the drill. Even after good logging results and fracking, the gas never flowed because of water. They had water getting through the casing and all sorts of issues. Often wells flow really well in the first week after fracking and flow tests and then the pressure from the reservoir drops and the well is deemed un-commercial. So even after Oilex do their logging and fracking of 77H, the professionals out there with the “real” money really won’t take a huge sustained holding in Oilex based on 77H until the well passes sustained flow tests. It needs to demonstrate that the pressure and flow rate are sustained over a reasonable period like 6 weeks. Some might want to see if flow for months. Once they see a commercial flow rate for a good amount of proven time, then this stock will re-rate massively.

For me personally, I won’t trade at this point in the drill cycle because it is too easy to lose your earned leverage. You’ve got high speed algorithmic bots coming and going, you’ve got professional traders dumping and re-acquiring at lower prices and then you’ve got the ASX and AIM match-up pricing discrepancies including foreign exchange and geo-political risks. This offer stack to 10 cents is thin.

Time after time over the years, for me personally it has proven best to ignore the trading and base decisions whether to buy, sell or hold on material risk related and operational news only. In the long-term if 77H passes sustained flow testing, this will likely be a multi-bagger for me. So I need to accept 50% potential loss verses 300% or more gain.

Don’t lose the faith people. So far everything is going well (Well). Unless there is bad operational news, enjoy life, do what I am doing this weekend and enjoy some chocolate and go fishing and enjoy the sunshine. In a couple months life might be much more prosperous and that is not a lot of time to wait in the scheme and greater picture of one’s life.

Happy Easter!