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All this take of breakfast is making me hungry...
Could in theory be a bed and ISA. Still doesn't add up for the other reasons given.
Shouldn't think so. B & B was banned for tax saving purposes in 1998. Need a 30 day gap between selling and buying for that to be allowed. Anyway the trades are too low for any to be buys. Some are negative which usually means a trade has been cancelled or is invalid, although some dont match exactly
There may be some who think that these 6 trades were sells, I would like you to know that these are not sells. they appear to be B&B trades by some savvy investors. Take note, each time it is for £16.45K, someone has realized the losses and has started fresh at a low price. The total cost of the whole exercise is only a loss of about 5,000 shares.
29-Jun-22 15:11:25 0.1553 10,590,755 Sell* 0.155 0.165 16.45k O
29-Jun-22 15:11:25 0.1553 -10,591,005 Unknown* 0.155 0.165 -16.45k O
29-Jun-22 15:11:13 0.155 10,611,250 Sell* 0.155 0.165 16.45k O
29-Jun-22 15:11:13 0.155 -10,611,500 Unknown* 0.155 0.165 -16.45k O
29-Jun-22 15:11:25 0.1553 10,591,005 Sell* 0.155 0.165 16.45k O
29-Jun-22 15:11:13 0.155 10,611,500 Sell* 0.155 0.165 16.45k O
Echo that maestro, hence all locked and loaded for the upwards action to kick off (whenever it’s ready to get going).
Still cant believe this is valued at 13m only, 100% interest and production license in place.
Schlumberger and Bakers are both confident of success even with the default fracking the well was producing.
First target is 0.2 the placing price.
Well done to the one who has picked up 10 million at 0.0159. It is showing as sell, but it's a BUY. The buying price has gone up above .016 after this trade. I hope today is the last day we see any more buying done at below 0.016. At these levels, it is a real Bargain.
29-Jun-22 12:34:55 0.159 10,000,000
Not sure Vf,but they said they were hoping for 2 mmscfd from 2 frac zones in the refrac and up to 5 mmscfd from the new wells, presumably from more zones.
Am I right in that horizontal fracking will be every 10 metres..
Not multi tcf but still plenty enough to make us all a few bob, if all goes well.
They weren't fully aware of the problems with the geology until they drilled and fracced 76h and 77h. Hopefully, the new approach will give them the 3 to 5 mmscfd from the new wells they (and us) are hoping for.
The actual recoverable 2P resource is an estimated 206 bcf as given in this rns.
https://www.lse.co.uk/rns/OEX/cambay-reserves-re-classification-p8l4x6k8fxngek1.html
Ideally before they drilled they should have got baker hughes and schlumberger to analyse the data of past wells, instead they followed default fraccing similar to usa.
Both of them similated the data and confirmed gas and condensates can flow commercial with right fraccing technique.
This presentation clearly says:
"The Company has a significant multi TCF gas resource at the Cambay PSC in the EP-IV tight siltstones that requires drilling and stimulation optimisation technologies to achieve commercial flow rates."
note 'multi TCF gas resource'.
Guys. This was all in an rns in 2017. We have been waiting all this time to see it hopefully come to fruition.
https://www.lse.co.uk/rns/OEX/core-analysis-and-review-confirms-cambay-potential-0sg5kkj8eqrh43q.html
Hi Maestrol
Good find should be a must recommendation for any new investor. Give them a good idea of what is possible from cambay and potential share price increase as they go through the various development stages.
Its old presentation but gives you idea of how Schlumberger and Baker Hughes recommended why the frac failed and how to rectify problem. 11 mins 40 sec in
https://www.youtube.com/watch?v=qvLyG4ylEbA
Maestro. Reinvested last year and added some more last week. Atb.
Gordon
Are you invested in here now?
"modified fraccing techniques" this is what im looking forward to now
Maestro. The whole point about Cambay is that the Standard North American technology did not work very well, due to the different nature of the rocks. This was the reason for the dispute with gspc. Around $125 million invested jointly in the Cambay project with minimal return. This is why Oilex commissioned the Baker Hughes /Schlumberger report which suggested modified fraccing techniques. A bonus is that Schlumberger are doing the fraccing with an estimated 75% cos. Atb.
Just added another 5M to my holdings.... average at .182 got to be happy with that :)
Maestro is right, i have seen it.
Sausageonstick
some have already taken them and purchased above 0.2p, this will comfortably past 0.2p before the frac as that was the placing price.
Fracing technology has gone alot better in the last couple of decades, USA has mastered it.
The well is already a producing one and i can see production increased.
slowly but surely people taking their positions before the big move up on refrac
Maestro. Dont think we know that, not in any rns. If that had been the case they could have bid 2 years earlier, avoided a massive amount of cash burn and have been much further down the road by now. There was a lot of debate at the time about what first refusal meant. Hard to believe Oilex could get it for a pittance if the original candidate was offering a lot more. The assumption is they dropped out leaving a clear field for Oilex.
Anyway, it's all in the past. It's the future that matters.
On holiday, just had a cracking pub lunch and and sitting in the car on Dartmoor with a great view of Haytor. Blowing a gale and raining but still beautiful. Atb. Gla.
Gordon
Oex has first right refusal and they rejected the other buyer. So oex themselves purchased it...