Member Info for maestro1

Aimopoly

Theres are reason why the frac has over 75% chance of success.

Aimopoly

this

https://drillordrop.com/2021/05/18/consent-for-wressle-proppant-squeeze/

OEX wont be using sand as proppant this time around, schlumberger has recommended ceramic proppants this time around.

Gordon

Schlumberger and Bakers both done studies on old wells in Cambay, they confident commercial quantities can flow.

The company believes only 1 out of 4 fractures produced from c77h. They will do smaller perforate per frack prior was 15m now 5m with longer fractures. Use ceramic proppants rather than sand.

We have to remember it wasnt overnight that fraccing became successful in USA it took time and research. It was oilex who brought horizontal wells to india and its only their second well. Its interesting they will frac near the heel of the well so as the verticle well turns horizontal.

We still not crossed the placing price of 0.2p.

Now OEX owns 100% as there past partner defaulted on payments and OEX got a steal.

100% acreage is worth well over £13m, Contingent resource of gas is 1TCF with 60MMstb condensate.

Back 2013 Magna took a stake in Cambay Acreage, they took 10% for $4m with further 5% option for $2m.

At the time we had 55% govt partner and the indian govt refused the deal, so magna took a stake in OEX for the same $4m payment.

Based on those metrics the Cambay project is worth 40m as is and with production the value will increase.

OEX believe the frac has over 75% of being successful in the C77H live well, i confident they will get decent JV partner who will drill 1 or 2 horizontal well for farm in 45%.

Current mkt cap is 13m which is a steal in my view, this month will be interesting

Mid july, workover rig got their on 20th june.

investors slowly coming back, taking their positions, not long.

C77 well will likely be off production now ready for the frac... Contingent resource of 1TCF and 60m barrels of condensate is huge.

Remember 1tf converted to boe is around 175m boe,

2p reserves which is proven and probable is 36mboe of gas and 8mmstb condensate.

Yes what about the old fracs? Of you pump fluid down the wells and proppants they going into those fracs too.

The company are going to refrac live well and make two more fracks in it, last time around they made 4 fracs and the company believed only one was producing and the other 3 were blocked, now with this refracing I'm assuming the four current holes will also be refraced?

They will be using ceramic proppants this time around rather than sand. I read earlier rns where they gave range Resources as a example which managed to crack the fraccing code to increase their flow rates in usa.

Schlumberger and Bakers have both analysed past well data and done simulation models and believe gas and condensate can be recovered in commercial quantities.

When Cambay-77H was spud in 2014, OEX only owned 45% of the Cambay asset and had mkt mkt cap around £25m, now OEX Owns 100% of asset with 2P reserve of 206bcf gas and 8MMstb Condensate with a mkt cap of only £13m.

Said it before this should be trading above 30m mkt cap before the Refrac. Its a proven field, Schlumberger are experience frackers.

Interesting article on refrac,

https://www.enverus.com/blog/makes-successful-refrac/

lah0re

you were correct, director done a bed & isa.

Imj

The herd will eventually arrive, tomorrow we are in july so its literally days away the refrac.

Whoever buying under 0.2p is getting great deal.

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.

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.

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

Gordon

Are you invested in here now?

"modified fraccing techniques" this is what im looking forward to now

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.

Gordon

Oex has first right refusal and they rejected the other buyer. So oex themselves purchased it...

I can assure you this will be above 0.2p by the time it frac has commenced.

why did the Indian company sell their 55% stake for cheap 2.5m if the company has a massive reserve?

This doesnt make sense... Anyone?