The Oilex Bomb!
It’s been a busy day here on the BMD blog of all Blogs but I couldn’t leave for my weekend retreat to the swiss alps (Hackney Marshes actually!) without a word or two on OILEX.
There’s an awful lot of nonsense being posted on this stock and some seem to think that the slight delay in the spud date on WA-388-P permit offshore Western Australia has caused the recent retrace. Well there maybe something to it but you would hardly invest in a company that began a drill in a cyclone now would you? It’s all down to nerves the retrace is attributable to those with a nervous disposition! As of today the RNS out clearly states that Oilex have a free carry here for 8.4% and they are targeting prospective resources of up to 2.8 TRILLION CUBIC FEET OF PAY! with a best estimate recoverability rate of 100%.
Now they have spiked to just over 35p/36p and are currently in the doldrums at 24p!
The Company’s main area of focus is in India where it operates three onshore
production sharing contracts in Gujarat on behalf of Joint Ventures with
Gujarat State Petroleum Corporation Ltd (GSPC). Of these, the Cambay Field
contract area has considerable oil and gas resources and Oilex intends to
further evaluate and exploit these through proven North American tight gas and
“shale gas” technology, including horizontal drilling and fracture stimulation.
The first horizontal, fracture stimulated well is planned for drilling in Q1
2011. Oilex’s, Managing Director, Bruce McCarthy is currently based in Gujarat
to manage this project and the Company’s other Indian interests.
The Cambay prospect is a shale play and the technology used has been proven time and again in the USA. Remember Cambay has already been drilled via well 73 and gas was encountered and the tech’ needed for these “tight plays” has now been proven beyond any doubt.
There’s been mooted whisperings in the city of shenanigans here with trading halts a plenty and related party interest options. It’s known as a carve up and that carve up caused the spike. Now bear this in mind as there’s no point going through what the Blogosphere already know about OILEX. Suffice it to say they have no debt and have cash.
Oilex are sat on massive gas {proven} reserves. Cambay is a gas giant and Oilex are quietly confident that “proof of concept” will lead to a staggering increase in sp value over this quarter. There are 50p minimum targets being mooted here. 100p looks set to be hit on Cambay news alone.
It won’t be long now before 50p is breached here. Any good news on Cambay and western Australis will push the sp. Great value for money at this present time. However please research your investments after all it is your money not mine!
Success at Cambay will make the current sp look ridiculous and we will all rue the day we never researched them. Oilex a ticking time BOMB!
News is expected shortly from the company via a Cambay update. It will shoot up on it. Hold for the news big gains here. Do not UNDERESTIMATE the potential here on Cambay it is company making!
Viva!
Daniel
Hi Dan, hope your well.
I’m a fan of oilex. Not positioned quite yet, but shaping up to. Another good find.
I do however have a question if it’s ok?
Has the blog taken it’s eye of Beacon hill resources? It seems to me the Market and blog are missing a golden chance to buy shares at this low level. News coming very soon. Upgrade within weeks. Just looking for your thoughts. 30p Is not far away and the 20p ‘s beckon within days or even hours. I’m sure you will agree?
Hi Dan,
Could you give us an update on SLE when you get time
Many thanks
Hi Dan,
I have not received any of your posts today by mail ?
Thanks,
T.
There seems to be a problem with the email subscription I am looking into it. Apparently subscribers are telling me that yesterdays RRL post email arrived yet the site was showing a 404 error last nite and that the post vanished until this morning. Am looking into it but there may be a glitch in the wordpress programme or it could be that the private button was pressed in error thereby causing an error re’ the RRL post and email subcriptions.
I’ll get on it over the weekend.
Dan
Thank you
Steve.
Dan,
I have spoken to Peter Hind at MTA and he does know your blog and didn’t disagree with any of the content here. One thing we discussed was the patch reefs and the futures potential with production and the increased thickness of the productive oil zone. You have posted news it due and potential oil, but has not highlighted the potential of these patch reefs (these will dictate the big rise in future SP of the company) .
I think many investors are not aware from this, from what i have read in your blogs. If you look on iii its all they talk about. I am pretty sure whoever dealts you now wont when mta announce results. I have a friend that is assisting in the PTR operations (3month contract) MTA is seen as following its footsteps and news will be positive.
As an investor id be interested in the patch reefs, thanks Dan keep up the good work. SZQ look cheap as lol
“The purpose of the Blog is too help and assist genuine Private Investors.”
And it does thanks.
You’re working overtime at the moment, but aren’t we all glad you are?! Many thanks for your work, it encourages us PIs to really do some research, and discover the World and it’s opportunities (which I feel have for so long have been controlled by so few).
Hi Dan
Could you possibly add me to mail subscription
many thanks and great work
paul
Dan – what do you think about Roxi at the moment? Fundamentals haven’t changed….
Yes very qt on the roxi front as the sp slowly fades. Market did not react well to today’s news which surprised me.
Well it looks like there’s going to be a funding from within the city. Very surprised at the reneging on the funding from Canamens! I was trying to get to the crux of the recent falls as I was quite certain that the Elemes disappointment couldn’t be the factor driving down the sp. Funding now seems to be the main reason for the falls however their strategy and assets certainly merit investment. Still think they are worth a decent punt as it looks certain that the funding gap will be bridged.
Dan
Hi Dan,
Firstly thanks for lots of info over the past months/weeks, have done very well thanks… much obliged. As i am relatively new to this i need some advice please. I am keen to make an investment in a new company to be listed on the AIM Monday 7/3/11. Its called Orogen Gold, currently according to various site the code is MVC Meda Vinci, they are talking about re -naming. What would happen, would new shares be issued for Orogen or would they just carry on with Meda Vinci currently at 94.00p.Or will it be a complete new listing starting from scratch?
Thanks in advance, and all the best!!