OEX 20.0% 0.6¢ oilex ltd

Rusty, I sold out my shares in the 14-20c range yes. I added...

  1. 893 Posts.
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    Rusty, I sold out my shares in the 14-20c range yes. I added further options @average price of 1.9c I think
    and sold at 0.005 at a loss on the oppies anyway. Oilex owes me nothing but I am still very interested in
    the Cambay play as that was what originally enticed me to invest in Oilex 5 or so years ago.

    I can't see how my previous post was down-ramping. I was simply stating the facts of the 77H outcome
    and those ARE the facts in relation to that well. I alluded to the usual "spin" and wording of the announcements
    as has been Oilex's form since 77H went off track 6 months ago. You know, 24 hour flow of 2.03mmscfge/d with
    if you noticed, the TOTAL amount recoverable at 360mmscfge being the FINAL point at the BOTTOM of those
    facts and figures. The flow rate is .062mmscfge/d going rapidly down to half that if they expect to only re-coup
    360mmscfge/d over the next 3 years.

    So, yes, 77H is a disaster in anyone's language. However, we know the problems encountered with that
    well and the 2nd half of my post was I thought positive in relation to future wells IF those problems
    could be learnt from.

    My view that the current management are unlikely to realise the potential of the Cambay field still
    stands. That is not fact, but merely an opinion after having gone through the debacles that were 76H
    and 77H respectively.

    GLTAH
 
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