Member Info for Gareth3672

Just executed another buy for 931,746, thats after the buy for 8,459,384 which has yet to show.

Literally just executed an order for 8,459,384 shares at 10:41am and was able to buy at the sell price..Trade not showing yet, just dont want you guys thinking its a sell.. It IS a BUY. :)

Very very strong trend on a double cup and handle now leading up to at least 0.33p even before a spike IMO.

Just look at the monthly graph, every low just keeps on getting higher that the previous low.

If you sold and made a profit, well done. If however you held I’d say a very well done for holding your nerve, now OEX has the ratification investment can come from institutional investors, not just PIs.
Really looking forward to the months ahead.

Fantastic to finally see that RNS arrive in the OEX inbox, next RNS will be completion of transfer, am I right in thinking that RNS after that will be positive cash flow production rates following turning the taps on in December? Or would there be anything prior to that?

If we do get the ratification GOI today - this week then fantastic, but even more so to get the news of result from initial production will mean OEX are making money! Let alone following a refrac.

Lots of great news to follow in a short period of time.

Gordon

Appreciate your reply, I agree a figure of 2.5 million for a vertical well but once the platform is created, equipment and rig is in position, I’d hope it wasn’t a further 2.5 million to carry out a side track?

Please excuse my lack of history on OEX, is there any information on length of proposed horizontal sidetrack?

Again please excuse my ignorance but why on earth dis the initial well cost a staggering 30 million?? Someone lost a tool down there?

Gordon and Jasper, both great posts.

May I ask why your guessing at 5 to 10 million per well? I question if it might be a lower figure than that?

Could another option be to sell OEX once refrac and one additional well are both in production - proof of concept? (Better production techniques).

Presuming refrac if 77h is in H1 and new well (fully funded) is in H2 we should have quite a steady stream of news.

for although that love graphs

Bluhope, there is a good RNS.. open your eyes otherwise you will make your self look silly...

3 years shut in... do you think there might be a wee bit of pressure built up? £££££££

Vacation fund, if you look at TRP, Hexanbiest has been praising it up and asking why the moaners are still in there, perhaps we should take a trip over to TRP and use the same rheotic as Hexanbiest is using here to dampen the share down and clog up the board for him.... Belter....

Personally I think the question about funding was on all of our lips, it was holding this share down, its now out in the open that its been done at around a 10% discount to the most recent share value, there is an argument to say that if this news had been held back to allow the share price to rise then we would all be moaning that the new shares had been executed at such a discount to the new 'price risen price'.

Oh... how I would chuckle if this week we did see the GOI complete on its ratification.

Only a matter of time, if you bought in today and its now worth less than what you paid for it, do not fret... Funding was arranged for a reason, we are moving forward, if you think OEX has done done nothing this year then you need to re-read the RNS's and listen again to the interviews.

Gordon, I do appreciate that the spread is 12.5% but likewise there were quite a few chunky buys on Friday throughout the day, I’m not saying that they were enough to warrant news impending but I do wonder if someone in the know is building a little nest egg.

New impending?

Alan, wording within the contract is a fair comment, but Covid and India only means it would be slow to arrive rather than not approving and so I still see this as a waiting game rather than anything else. Buying now at around .16p is sure a double your money?

Please... only "genuine valid reasons" because if this is just a rubber stamp then why the drop? Its just a waiting game?

Wonder what the cash burn is each month?

But having read the latest RNs there a 250,000 purchase of share and at what price? this transaction on its own is not enough to support current outgoings and with the same old line "we are looking to support share holder value in the short to medium term" being used but nothing material being shown in each RNs I think I will hold on for now.
In a previous RNS it mentioned that there were multiple revenue streams being looking at but there no up date on any of these? I appreciate it takes time but why hold from 2p ... there needs to be some real information coming through, share holders are kept in the dark it seems as there is little to report? Disapointed at the moment.

Not sure on the date of this, it states 6hrs ago?

https://www.proactiveinvestors.com.au/companies/news/26491/longreach-oil-gas-vsa-capital-targets-us242-for-shares-26491.html

Finally, Oilex (LON:OEX) has kicked off the second stage of the fracture stimulation programme at its “proof of concept” Cambay-76H well in India following the successful completion of the first stage.

The “low risk high reward” well is testing the production potential of the Y Zone interval of the extensive Eocene reservoirs in the onshore Cambay production sharing contract (PSC).