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Good point about the condensate Rolling.
Me neither, but a shame the old bugger didn't quite make a hundred.
Callum. Great song from a great album. Atb.
I'm not a Royalist fanatic but Duke of Edinburgh news. Sad.
It's the Oil / Condensate combined with the 100% interest that really turns this around for me, given the re-ignition in Oil prices and the forecasts for it to continue rising.
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'comprising 55% light oil/condensate'
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In the same way, that a Copper resource can be borderline economical but with the presence of a few grammes of Gold, it turns it into a very profitable venture.
https://youtu.be/uVXR2LYeFBI
Stress free from the sidelines
Settled my old score with Oex from 2012 drill
Around 80
Yes Rolling thats correct. Don't forget though that Oilex's share may be reduced to that sort of level with a jv. They want to hold on to a bit more and keep a majority share. One final point though, your figures for the value of the 170bcf sound about right but it is the % profit on that that values Oilex. Atb.
The 170 Bcf was for a 45% interest, which equates to 370 Bcf with the 100% interest.
:o)
no longer valid
Hope so.
The sp is low in what hopefully will come.
Thanks Rolling. Yes I was aware of the changes and the reasons for the reclassification of the 1P, 2P and 3P resources as contingent in June 2016. Those reasons are as you say are no longer valued. I was merely pointing out the the 3P resources prior to that date at 170 bcf are a more realistic measure of what might be recoverable. Still pretty big but nothing like some of the numbers quoted here. Atb.
This is just like ARB sprung for a good rise. It won't take much, lots of news due short term. It takes the market a while to notice dark horses like Oilex. A lot to do with the current price is based on past performance, not the actual information at hand that show us all that the past does not necessarily represent the future. Huge energy market in India, majors businesses plans are to seek out small caps with reserves and work with them or scoop them up. Sometimes when a share is primed to rise and the pi's have got in first mms get bombarded with institutional investors who want in cheap, so games are played in order to rob the pi's. There is no need to have this share trading in the 0.3 range. Volume will be much higher in the 0.4-0.5 range so it means to me there is large buyers lurking to scoop these up before the next round of news.
Gap filled now buys should start to come in
I'll correct my own post .... should be £500 Million on (0.5 £Billion) on Gas and £750 Million (0.75 £Billion) on Oil for the previously listed reserves.
More to the point, OEX believe this is a multi TCF resource, so plenty to play for at roughly £1.5 Billion per Tcf of Gas.
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Oilex Ltd (the Company) reaffirms its commitment to unlocking the multi TCF in-place tight gas potential in its onshore Cambay Block, Gujarat state India.
Could see a sharp move back to 0.40 - gap has been filled
Definitely undervalued here
At last facts. Good post. Gl
Gordon
Not the full facts there.
One of the reasons for changing the 'reserves' to 'contingent', was:
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) a change in economic assumptions related to lower gas prices being realised because of the world wide fall in oil and gas prices;
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Where oil dropped to around $30 and is over double that now and forecast by Goldman to be $100.
The 3P reserves listed then for a 100% interest, which they have now, are valued at £ 1.5 Billion for the Gas and £750 Million for the Oil at todays prices.
Oilex in advanced discussions with "Third parties" to provide finance.
JV partner being lined up in my view.
Will not be surprised if Govt involved in brokering a JV deal in the background with a Big Player given the size of CAMBAY and its strategic importance.
CAMBAY is massive asset that the Govt wants developed and move forward.
They will all be back mate. Most undervalued oil and Gas play on AIM right now at £14m Mcap ?
'As Cambay is seen as a massive strategic gas reserve for India that they needs to be developed'
Oil not to be ignored either.
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With all the proof-of-concept objectives having been achieved, a significant milestone has been reached towards creating a profitable and sustainable business. It is also a first step for India, towards improving its domestic petroleum supply by using multiple fracture treatments in horizontal wells that have transformed the energy equation in North America. Oilex is proud of its first mover position, competitive advantage and achievement in initiating development of tight oil and gas using this technology in India.
The results clearly indicate recovery of significant volumes of oil and gas can readily be achieved. Importantly, Cambay-77H and the model, confirm that the tight Eocene formation in the Cambay Field is amenable to this form of fracture treatment, leading to the conclusion that the Y Zone can be commercially developed with this technology.
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:o)
Billy
Totally agree mate I am here for the long term
Agree Billy. I also prefer to get to know the companies I invest in, rather than following the crowd. Then I can rely on my own decisions when things take longer than planned...
If you go back 3 days ago this board was packed saying they want your share all aboard the train ect ect where are they now nowhere to be seen they have taken there daily profits and moved on to UKOG ect and chasing the rainbows ..I'm not here for a day or 2 days iam here because it is way undervalued and we dont just have 1 project to go on this should not be at this price much higher I will wait and if and when the time is right I will top slice and let the rest ride ..iam not here for oh iv made 20 percent and then fcuk off I have numerous share in different companies most down but I'm not selling ..people panic if it drops and then sell .remember it's only a paper loss but everyone to there own agenda I know mines and I'm staying put ..
rolling, sage advice but sadly until a post is actually read its impossible to tell whether its a repetitively tedious piece of banal monologue or not and then it's too late to ignore it! Anyway, points made and taken on board . gla