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OEX, OILEX LTD
fraz2
post Posted: Mar 18 2016, 09:00 PM
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latest ann does not fill me with enthusiasm

Mr Salomon commented: “I am very enthusiastic about the opportunity to serve as Managing Director of Oilex.



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Our greatest glory is not in never falling, but in getting up every time we do.

Great minds discuss ideas. Average minds discuss events. Small minds discuss people.
 
Optionsman
post Posted: Oct 14 2014, 11:50 AM
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In Reply To: Optionsman's post @ Oct 10 2014, 09:52 AM

SP looking very sick. The people in the know are slowly realizing this well is a dud

 
Optionsman
post Posted: Oct 10 2014, 09:52 AM
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In Reply To: Duster's post @ Oct 10 2014, 06:34 AM

Hi Duster

I really hope I'm wrong coz I really would like to see the potential in India realized. But this well is a long long way off being commercial, and given that most of the frac fluid has been recovered it is never going to make it. These rates are really no higher than the initial rates from the vertical wells in the field. And yes I know it is on a reduced choke and the THP is 850psi. The nature of tight reservoirs however means it will deplete quickly and this THP will probably be 200 psi in the next 2-3 months - as a guess.

So if this well is sub commercial what do you think will happen to the share price?

It will be another year or two before another well is drilled, and they will need to raise more funds in the meantime.


 
Duster
post Posted: Oct 10 2014, 06:34 AM
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In Reply To: Optionsman's post @ Oct 8 2014, 05:00 PM

OM,
This is a "proof-of-concept" well and the first well of this type In the Cambay Basin to flow hydrocarbons. It is still on a reduced choke and still cleaning up. I agree, probably not the best flow rates at this stage but It needs more time. As for 5c, maybe, but I've traded this on numerous occasions, from the lows, and believe it's still too early to call. IMO, the sell-off has probably been overdone, on not so negative news and has created yet another trading opportunity.
Cheers.



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Patience is the key to success.
 
Optionsman
post Posted: Oct 8 2014, 05:00 PM
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In Reply To: Duster's post @ Oct 8 2014, 02:10 PM

76% of the frac fluid recovered and the rates are only 229 bpd and 0.4 mmscf/d on a THP of 850 psi.
Doesn't look good in my opinion. I don't think the rates will get any higher than this. In which case it is back to the drawing board, and OEX will probably go to around 5c over time, maybe less.



Said 'Thanks' for this post: mjwk  
 
Duster
post Posted: Oct 8 2014, 02:10 PM
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In Reply To: Duster's post @ Oct 7 2014, 07:43 AM

Re: options

QUOTE
potential upside in OEX gives good leverage


as with all derivatives, it goes both ways, as was reinforced today. Although I still don't believe the report was that bad but obviously the market does.








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Patience is the key to success.
 


Duster
post Posted: Oct 7 2014, 07:43 AM
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Still trading this one. Back in <10c and took some options on-board this time as well.

Options possibly worth having a look at, at these levels. They kick in at 15c in the head stock, which I believe we will see again shortly. Sept 2015 gives plenty of time and at 1.4c, the potential upside in OEX gives good leverage. News due any time now.



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Patience is the key to success.
 
cooderman
post Posted: Aug 28 2014, 09:59 AM
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looks like support is back today....see how it pans out
I was hoping for an entry off .135 support or maybe even down to .12 if it closed all those gaps

not to be...will keep an eye on it if it falls away again...may be a quick trade in it

 
Optionsman
post Posted: Aug 22 2014, 11:30 PM
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In Reply To: mjwk's post @ Aug 22 2014, 10:26 AM

Cheers MJ

Just read the posts on HC, and posted a reply. The guy seems to know enough .... to be half right.

I wouldn't pay too much attention to that 'calculated' rate though. The well is still cleaning up. Impossible to extrapolate from there.

Its a pure punt from here. I must say i've gone a bit cool on it though - mainly coz I have been burnt a few times in the past from small companies not telling the whole truth, or exaggerating the truth a bit. There is a lot more they could have said over the last few weeks, but they have chosen not to, which smells off to me.

I should also correct my own post from earlier. The downhole gauge sits above the reservoir, so if there is a blockage then it should decrease the pressure, not increase it. My mistake. Either way, its not really possible to deduce anything at this stage - we just don't have enough info. I am sure the company itself has some idea - its just that they have chosen not to tell us. grrr.gif

I tried running the numbers and it turns out that there are too many unknowns to solve it. Bummer.


 
mjwk
post Posted: Aug 22 2014, 10:26 AM
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In Reply To: Optionsman's post @ Aug 22 2014, 10:08 AM

Dare I say it... on HC. We know its mainly crap but there are the odd good ones. This guy info was an interesting read no ramping just an explanation of the oil/gas process. Way over my head but you would absorb the info. Thanks for all your posts on the this subject , keep them coming. Interesting and informative . Onya, Oppy.

R/ MJ



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