Member Info for gordon1237

Hi QS. Long time no hear. The answer to your question, as to what's going on, is I wish we knew. As usual with Oilex it's the waiting game. The last impediment to restarting production for the old Wells 73h and 77h was supposed to be the environmental clearance, which was granted on 7th February. Since when we've heard nothing. For all we know they may have restarted but if so, they haven't told us. Once they rns the restart, we may see a modest increase in sp, but imo the only thing that is really going to get it moving is the, hopefully successful refrac of 77h. That is supposed to be this quarter but whether that is still on schedule we don't know. Atb.

Interesting the way the increased volume has held up. More than 5 weeks now.

We can hope for the best, but refrac this quarter is looking increasingly unlikely.

From the rns on 7th February.
" The grant of the new Environmental Clearance enables the Company to re-start production from the two existing Cambay wells and to proceed with the field development, including the already-funded re-frac of the C-77H well."
To paraphrase Queen,
" All we hear is radio silence. "

Absolutely, Jasper. The whole point of the refrac, which wasn't on the agenda under Joe, is to hopefully demonstrate successful methodology to potential jv's. Previously, for 45% there were about 93 bcf in the 2P reserves. That equates to 206 bcf for 100%.

Was wondering why they wouldn't drop. Lol.

SP recovering nicely after the earlier drop.

Thanks Jasper. Intetesting calculations. Nice to have it confirmed that they are expecting 0.5 to 1.0 mmscfd. That will be presumably due to pressure build up over the last 3 years. I was also assuming they were basing their 3 to 5 times on a baseline of 1 mmscfd, rather than the later lower figures. Would have made the revenue calculation simpler if you had just assumed 1mmscfd at $4.3, giving around the same amount. Irrelevant really, anywhere near those numbers would be a good starting point.
By the way, how set in stone is this $4.3 take off agreement? Presumably, would be higher if being set now? If it cant be changed it makes all the comments on here about soaring gas prices invalid.
Although, as I said those numbers would be great to start with, I dont think we should be too disappointed if they are lower, especially as without the refrac they will decline again. If the refrac gives us even the lower end of around 3 mmscfd and stayed there, that would be a huge success. If not? We dont want to think about that.
Atb. Gla.

Who knows? Certainly not us. The usual information vacuum. Unfortunately, looking increasingly unlikely we will see the refrac in Q1. Oh well, patience as always. Gls.

Aiming. As discussed yesterday, that is utterly irrelevant to Oilex.

For once we are in full agreement Sausage. All we need now is a successful refrac and we are away. Atb.

India is a huge net importer of gas. No need for Oilex to export anything. They have a ready made market on their doorstep. Atb.

Not normally seen in the same sentence?

Thought, I was doing well when I bought at 2389 and it went to 2700. Not looking so clever now. Still, I nearly bought at 40 quid, so could be a lot worse.

Hi WTB. So finally we know your real name. Can we just call you awesome? Lol. Atb.

Not really naughty Jasper. Sorry if I misunderstood the implication. Youd think they would have been ready to turn on as soon as allowed. Atb.

Jasper. Didn't you say on Monday that there was nothing to stop production starting immediately? Atb.

of meeting out on asx. All approved ad expected.

Wr are still more than 40%, up on mid January (0.16).

Just confirms the obvious, that over any reasonably long period, buys must match sells.