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Hi All,
It's Australia Day here in OZ! Public Holiday and share market closed. No shares traded as usual in OEX. Ha Ha.
We usually have fireworks to celebrate at sundown. I would be happy for an RNS in UK tonight and that would set off some fireworks indeed! Let's get this party started................
Do we take Oz closed as no news today?
The world keeps turning hopefully
I'll give them whisky. Works for me. Lol.
Don't worry Gordon you'll be invited, we someone to put the kids to sleep.. lol
Behave yourself Vf. Lol
Hopefully .. And i just don't want to sell my shares and miss the big party.. ;-)
You expecting that RNS tomorrow then?
Wouldn't want to be out over night... ;-)
Buys going through 0.002 off of full ask. Once the shares get eaten up at this level it's 0.2x from here
Looking forward to this afternoon session
Fair enough Jasper. As always we wait and see.
Gordon...I am merely musing what I know.
Jasper. Don't think we, or even Oilex have much idea of what the flow rate of 77h will be on restart.
Yes, it was initially about 1mmscfd, but on shutdown it had declined to about 10 % of that. They have stated that the build up of pressure in the last 3 years should give an increase so that should be interesting. We need to wait for the refrac, to know if the big rerate is coming. Atb
C77H well when back producing shortly should flow at 1mmscfd. This is before fracking. Based on the off-take agreement in place that would generate income of £1.569m per annum, flowing 365 days per year, so factor in downtime let’s round down to £1.5m. Now let’s factor in re-frack and we’ve been told to hopefully expect 3-5 times better flow. You can do the maths on the adjusted cash flow. This is just for one well. The field development plan (2019) was suggesting 30 new appraisal wells and 9 work over wells in total across the acreage. Yes they’ll need funding. You can now start to see the scale of what Oilex have here.
Todays price is way below enterprise value, and yes sorry I keep banging on about that. Next milestone news flows will start to re-rate this share.
Yes Jasper, almost posted something similar. They have actually said that alternate production from the two wells will just cover costs. News of the restart will give some uptick in the sp but nowhere near those numbers. It is only great news from the refrac of 77h that could be transformative. Gla.
hannay..you are smoking the weird stuff. At 1.8p that would give market capital on todays shares issued of £128m! From a market capital today of £12.8m. There is no way with one well flowing that will generate that market capital. Have you any idea what one well producing 1mmscf per day generates in daily cashflow? I have and its nowhere near your numbers.
We should all do very well from these levels
Not "Ramping" but all going well this week, this is an absolutely incredible entry price. Realistically with some production at Cambay, 1.8p isn't exactly dreaming so therefore, I call multibag time shortly.
From what I've gleened from the sparce information we've recieved to date the Drilling Engineer, Tool Pusher etc are going to be subcontractors. Possibly with somethimg as important as this Joe may even decide put in an appearance onsite
Hi all,
nice to log on and see the colour blue for a change. Always preferred blue to red!
Cheers
1,098,438 shares changed hands here in OZ. ASX down 177.9 points after down day in US. OEX @ 0.003 cents.
Australia Day tomorrow so market closed. If news were to come out in UK overnight I will have to wait until Thursday for any movement on Oilex. Usually there is a selloff the day after news so potentially could miss out on any upward movement.
Here's hoping to news Thursday or later but I'm only being selfish!
GLA
Anyone know what the staff situation is? Have they got the employees on the ground to do the job? I can’t imagine they have many after 3 years of no production. Has there been a recruitment drive?
Nope , ctea a while ago 1's day in day out for 3 months before
news turned up , tells you all you need to know about a 1
icon was another classic 35 in a week , including 10 Thursday afternoon
not an rns in sight
many hundreds of other examples available , it has as it has always been made
to fit nonsense and if you bother to speak to a nomad , he will laugh his *******s
off at the we had 1 last Thursday stuff
worse these days due to FEE FREE sites , that have even resurrected the old valid
codes which disappeared years ago with new TECH common on many shares in
vogue these days 900 911 mixed with strings of 1 or 1 2 3 etc
Just ******'s playing games
;))
Admittedly I've bought 1 share before on previous shares in order to stir the pot. I've seen RNS's after 1 trades that I initiated and BB's went mental lol
Code 1 - y'all - Assuming that means anything
Yes, great for anyone invested in oil/gas. Not so great for those struggling to pay their bills. Gla.