Member Info for MickR

NT to buy decent at 1.30p…come on MMs, create a fair market. Brokers want 1.55p if you want to buy 100,000 shares.

I have bought three grand worth today. Think we shall see a bounce or spike to 2p plus next week or so. Low market cap so often NT to buy like yesterday.

DyOr

I am thinking of punting a grand here. It is a binary bet but with the downside limited to 0.80p (and potential de-listing unlikely though?) and upside could be 10p or more.

Debt Principal and Cash

§ Cash (unaudited) as of 31 March 2022 was US$71.8m (31 December 2021: US$25.5m)

§ Debt principal outstanding as of 31 March 2022 was US$624.4m (31 December 2021: US$590m)

My buy of 61,774 shares at 12.37pm at 11.95p not showing.

I am happy to keep adding at these levels. Today's results are for 2021, backward looking, not forwarding looking like the trading update we had earlier this month.

Geng,

The smarter ones sold at 19p and are buying now at 12p?

From NT to buy at 1.35p an hour ago to 1.20p on the ask. Someone having a massive dump it seems.

11% of the company is in the hands of the CEO. The free float is very little i.e. is available shares are little so any small buying will see a huge rise in the SP (and conversely as we saw earlier today).

15p close today?

This is a £6m market cap company writing substantial new business in 2022. It would look cheap even at £12m which is a 24p share price.

DYOR and ignore the noise.

Two weeks ago people were falling over themselves to buy at 19p plus, it is now below 13p. I am loading up while it is down here. We should see 15p plus soon.. Break 20p and we are off to new highs.

DYOR

I think this is an overreaction as the final results are for 2021 and we have already received a trading update that says each of the 5 new contracts signed in the first quarter of 2022 exceeded those of 2021.

Sscsss,

Oilex and Schlumberger Asia Services Limited ("Schlumberger") have executed a Letter of Intent for the supply by Schlumberger of hydraulic fracturing services, coiled tubing and nitrogen services and perforation services for the planned re-frac of the Cambay C-77H well in July 2022.



"Due to the higher than anticipated C-77H re-frac costs caused by a global shortage of fraccing services and equipment, and the delayed start up of gas production on the Cambay field, Oilex plans to raise additional funds over the next approximate month."

Schlumberger being brought in could have led to the increased costs as they are the best in the field??

The refrac operation is estimated to be AUD 1.8m roughly £1m so the raise would probably be in the region of £1m?
They have also given estimated flow rates: "TBA when production stabilises, but we would anticipate between 0.5 – 1 mmscfd." approx £2m per annum in my view?

https://www.share-talk.com/oilex-ltd-management-team-asxaimoex-qa-update-shareholders-questions/#gs.xhlld6

The SP closed on the ASX at AUD$0.40p = 0.23p.

Upside looks huge here. Have managed to accumulate 15m shares now thanks to the drop.
I am expecting 0.20p to fall soon and then 0.22p plus to hit.

DYOR

A premium raise would be good to put a floor to the SP. Anything above 0.20p and then hopefully onwards and upwards.

It says issue of loan notes, does not mean cash will come in.

This is a casino play.

DYOR

With 20p support broken, I am afraid we could see 18p or lower. I am out until the dust settles.
Good luck all in.

Any idea who this pesky seller is ? Hopefully they are done soon and we can go up.

With POG and POLY now bouncing up sharply, I cannot believe we are sat at 110p. We should be at least at 300p and even 50% of that is 150p.

DYOR