Oilex Share Price - OEX
|Share Name||Share Symbol||Market||Type||Share ISIN||Share Description|
|Oilex Nl||LSE:OEX||London||Ordinary Share||AU000000OEX8||ORD NPV|
|Price Change||Price Change %||Share Price||Bid Price||Offer Price||High Price||Low Price||Open Price||Shares Traded||Last Trade|
|Industry Sector||Turnover (m)||Profit (m)||EPS - Basic||PE Ratio||Market Cap (m)||RN||NRN|
|Oil & Gas Producers||0.1||-2.1||-0.4||-||11.69|
Oilex News, Charts, Forums & Trades
|02/9/2015||07:00||UKREG||Oilex Ltd Good Oil Conference Presentation|
|25/8/2015||09:51||ALNC||Oilex Focusing On Increasing Production In India, Bringing Costs Down|
|25/8/2015||07:06||ALNCF||Alliance News Flash Headline|
|12/8/2015||07:00||UKREG||Oilex Ltd Results of General Meeting 12 August 2015|
|12/8/2015||07:00||UKREG||Oilex Ltd Notice of change of interests - substantial holder|
|11/8/2015||07:00||UKREG||Oilex Ltd Appendix 3Y - J Auld|
|11/8/2015||07:00||UKREG||Oilex Ltd Appendix 3Y - M Cozijn|
|11/8/2015||07:00||UKREG||Oilex Ltd Appendix 3Y - R Miller|
|06/8/2015||07:00||UKREG||Oilex Ltd Appendix 3B - Issue of Shares under Rights Issue|
|05/8/2015||07:00||UKREG||Oilex Ltd Appendix 3B - Rights Issue|
Oilex Share Charts
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Oilex Discussions and Chat
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|04/9/2015||09:49||OILEX - Significant upside at Cambay and Canning basin||13,636|
|11/5/2015||10:51||Bust in 6 months!||15|
|24/2/2015||15:50||Oilex 2014 and onwards||187|
|22/1/2015||08:09||OILEX HUGE POTENTIAL & ISA-ABLE.||4,824|
Oilex Top Chat Posts
|lr2: 29palms - your post #10886 doesn't fit the facts. On 17th September OEX released their 'Cambay-77H – Intervention Complete' RNS which made no reference to the failure of the retrievable bridge plug. Therefore, I have to assume that the problem occurred after that date. Now, if you then check share prices from the 18th September onwards you will see that the OEX share price on the start of that date was 7.125p hence the price did not slump from circa 12p. (The 13 day close down cannot have been any later than 21st September for the recover rate to have started on 4th October). On 6th October, after the recovery rate was known, the share price closed at 6.875p. So, overall, during the maximum possible close down and re-open period the share price slumped no more than 0.25p. The major damage all occurred today which indicates, at least to me, that the retention of share sensitive information within OEX isn't that bad.|
|baz63: Thanks Edge, is there likely to be 2-3 more RNS' before flow results are released? Given your experience of investing in O&G and having admitted yourself being surprised OEX share price is not quite a bit higher at the moment (as others have) are you slightly concerned there could be other issues here? Especially given reactions to news on shares like MSMN - albeit at a different stage to oex just seems quite a disconnect|
|iglenn: 3 August 2015 ASX: OEX AIM: OEX Update on Underwritten Rights Issue Oilex Ltd (Oilex or the Company) is pleased to provide an update on the result of the previously announced Underwritten Rights Issue, and announces changes to the second tranche of the previously announced Placing. As announced on 31 July 2015, 16,235,098 Rights Issue Shares have been taken up by shareholders, resulting in a shortfall in the Rights Issue of 153,241,412 shares. Under the terms of the underwriting agreement in respect of the Rights Issue, and as disclosed in the Company's announcement of 17 July 2015 (paragraph 5.7 of the Offer Booklet), as the share price of Oilex has, during the offer period, fallen below the A$0.041 Rights Issue offer price, a potential termination event has been triggered whereby the underwriter has the right to terminate the underwriting agreement. In light of this development, the Company has taken steps to seek alternative participants for part of the Rights Issue shortfall. Accordingly, Zeta Resources Ltd (Zeta) has agreed to take up 62,011,067 shares by way of placement out of the Rights Issue shortfall at the Offer Price of A$0.041, for a total consideration of approximately A$2.55 million (GBP1.24 million, US$1.95 million) and will receive a fee of 6% that would otherwise have been paid to the underwriter. On this basis, the underwriter has agreed not to invoke its termination right under the underwriting agreement, and the underwriter (or its nominees) will take up the remaining Rights Issue shortfall. As announced on 7 and 8 July 2015, Zeta's participation in the second tranche of the Placing will be settled in 2 tranches. As a result of Zeta's take up of Rights Issue shortfall shares as outlined above, and in order that it and its associates do not breach relevant Australian takeovers laws (under which, broadly, a person may not acquire shares if that would cause their and their associates' voting power to exceed 20%), Zeta has agreed that its second tranche investment will now proceed as follows (subject to approval of the resolutions proposed at the Company's General Meeting convened for 12 August 2015): -- 50,000,000 new ordinary shares will be placed with Zeta at a price of A$0.041 (2 pence) per share, to be settled immediately following the General Meeting; -- a further 124,019,608 (previously 225,490,196) new ordinary shares will be placed with Zeta at a price of A$0.0418 (2.04 pence) per share, to be settled by no later than 12 November 2015. These shares will be issued out of the authorisation to be sought at the General Meeting (covering 225,490,196 shares); and -- in lieu of the remaining shares originally envisaged to be issued to Zeta, (being 101,470,588 shares) the Company will issue A$4,243,500 (approximately GBP2.07 million) of 20 year, zero coupon unsecured convertible loan notes to Zeta, which will be convertible into shares at Zeta's option at any time, subject to compliance with Australian law, at a conversion price of A$0.0418 per share. The issue of these convertible notes will occur contemporaneously with the issue to Zeta of the 124,019,608 new ordinary shares referred to above. These convertible notes will be issued pursuant to the Company's placement capacity under Listing Rule 7.1 (as refreshed at the General Meeting). To the extent that the convertible notes are not converted, they will be redeemable on 30 June 2035 or such later date as agreed with Zeta. The Zeta Convertible Notes will have the right to participate in rights issues and other pro-rata issues on an "as converted" basis, subject to compliance with law. Upon completion of the Rights Issue and Tranche 2 placing, Zeta and associates will hold approximately 275 million ordinary shares, representing approximately 19.6% of the Company's enlarged share capital (on an undiluted basis). Zeta will also hold A$4,243,500 of unsecured convertible notes, convertible into 101,470,588 ordinary shares. The remaining portion of the second tranche of the Placing will proceed as previously announced and the Placing timetable remains unchanged. Given their relevance to the matters to be considered at the General Meeting, shareholders will be notified of the above changes by letter in the coming days. Managing Director of Oilex, Ron Miller, said; "The financial support by Zeta not only in the second tranche, but now the Rights Issue shortfall is very pleasing and demonstrates their commitment to Oilex's business plan. This plan is focussed on production and cashflow from the recently independently assessed Reserves at our Cambay Field in India. We are delighted that the Rights Issue will successfully complete, leading to a General Meeting on 12 August 2015 where shareholders will have the opportunity to approve the second tranche of the Placing.|
|iglenn: Just as a reminder to back up Steve's point..... Oilex (LON:OEX) could potentially re-rate as it begins commercial production in India, which is hungry for gas, reckons private investment firm PAC Partners in a recent research note. Analyst Andrew Shearer notes that production at the group's Cambay field is expected to begin in the first half of 2016 and then ramp up from the middle of the same year. He has started covering London and Australia listed Oilex shares with a 'buy' rating and risked net asset value based price target of A$0.12 per share (6p), which is around a 70% premium to the current share price of A$0.07 (4p). "India imports significant quantities of LNG to meet demand as domestic production is limited. "This creates an opportunity for OEX as the import cost creates a premium price market for gas sales," he said, adding he expected the price premium to remain in place "for the foreseeable future". India, the fourth largest energy consumer in the world, imports around 30% of its gas, which ensures that Oilex will achieve a price premium for gas it delivers of around $8+/MMBtu compared to a government gas pricing policy of around$5/MMBtu, noted the analyst. "OEX successfully completed a proof of concept well in late 2014 and now is tendering for long lead items. Production is expected to commence in 1HCY16, then ramp up from mid-2016. Shearer notes that Cambay is an advanced asset in a proven field that has existing infrastructure. Oilex also benefits from having an experiences team inj India, while the joint venture partner is the Gujarat State Petroleum Corporation, which has a significant presence in the gas transmission and distribution, enhancing the ability to access infrastructure and markets, said the analyst. In a recent note from share price Angel, the broker said Oilex's move towards the start of production was good news not just for the company but also for shareholders. “Now that the near term cash flow has been shored up, we believe that the next stage is for management to focus on how to maximise the benefits from its ownership of Cambay to generate further value for shareholders,” it said. PAC Partners is for 2016 forecasting revenues of $9.6mln for Oilex with EPS growth at 15% rising to revenues of $116.1mln in 2018 with 115% EPS growth.|
|dfgo: I took up the 2p Rights Offer and applied for extra they are showing in my Halifax statement Halifax Latest Price (p)10.00p Change (p) 8.00p and massive total x 10p a share I have not NEVER seen price like this showing before in my statement total value column OEX have options showing 188,596,471 Listed options exercisable at $0.15 each by 07/09/2015 I wonder Who Own These,if the above were exercised on 12sept 2015 what effect would it have on share PRICE?? scoll to bottom of page ASX Announcement 15 July 2015 ASX: OEX AIM: OEX Appendix 3B New issue announcement, application for quotation of additional securities and agreement Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public. Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13 Name of entity OILEX LTD ABN 50 078 652 632 We (the entity) give ASX the following information. Part 1 ‑ All issues You must complete the relevant sections (attach sheets if there is not enough space). 1 +Class of +securities issued or to be issued Fully Paid Ordinary Shares 2 Number of +securities issued or to be issued (if known) or maximum number which may be issued 45,393,463 3 Principal terms of the +securities (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion) Fully paid ordinary shares 4 Do the +securities rank equally in all respects from the date of allotment with an existing +class of quoted +securities? If the additional securities do not rank equally, please state: · the date from which they do · the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment · the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment Yes 5 Issue price or consideration $0.041 per share 6 Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets) The net proceeds will be used to fund part of the Cambay and Bhandut Field work programmes for the 2015/16 year, minimum work commitments in the Canning Basin and working capital. 6a Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A? If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i No 6b The date the security holder resolution under rule 7.1A was passed Not applicable 6c Number of +securities issued without security holder approval under rule 7.1 Not applicable 6d Number of +securities issued with security holder approval under rule 7.1A Not applicable 6e Number of +securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting) Not applicable 6f Number of +securities issued under an exception in rule 7.2 Not applicable 6g If +securities issued under rule 7.1A was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the +issue date and both values. Include the source of the VWAP calculation. Not applicable 6h If +securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements Not applicable 6i Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements 7.1 - 2 7 +Issue dates Notes: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in appendix 7A. Cross reference: item 33 of Appendix 3B. 15 July 2015 8 Number and +class of all +securities quoted on ASX (including the +securities in section 2 if applicable) Number +Class 723,299,502 Fully Paid Ordinary Shares 188,596,471 Listed options exercisable at $0.15 each by 07/09/2015|
|teraferma: This will definitely be ramped in the next few months. Just compare the share price graph with the last time we had a large investor come on board in Magna Q4 2013, share price was at an all time low of 2.5p. Funding was agreed, they then confirmed a rig for drilling of one well and the price was pushed up to 12p in the space of 5-6 months. This time we have two drills, plus the five work-over and another two wells to come into production. Funding is now secured for these (possibly not the fracking)so this IMO significantly de-risks the share. Ron and co and coming to London to do their roadshow to fleece a few more fund managers, so I'm expecting minimum 4p by Christmas. AIMHO TF|
|dfgo: High Impact Well Test Imminent
OEX has made a positive announcement on its Cambay-77H (77H) well with milling
operations successfully completed as the well program enters its final stages of flow-back and clean-up before the critical production test.
We believe the completion of these critical activities de-risks the execution of 77H. We therefore maintain our Speculative Buy recommendation but expect volatility as we approach the critical well testing phase.
Completion of milling operations.
We believe the successful completion of milling operations with all 4 isolation plugs (including one that failed to seal) from the fracking program removed is a material milestone given this was the stage in the previous 76H well where mechanical problems occurred.
Therefore, the completion of the fracking program and milling operations substantially de-risks the execution of 77H in our view.
Signs are positive but early.
Flow-back and clean-up of 77H has commenced with gas being observed at surface unaided.
In addition, OEX has reported gas flowed to surface during milling operations. Although early stage, these are positive signs, particularly coupled with the continued over-pressure readings from the reservoir.
Key objective is to deliver a commercial flow-rate.
We re-iterate the key objective of the 77H well and the long term value driver for OEX in our view will be to deliver a commercial flow-rate of ~4mmscf/d gas.
OEX has previously announced 77H logs compare favourably to the Cambay-73 vertical well, which produced from the Y zone at ~1MMscfd (plus condensate) and is located approximately 1km from 77H.
Cambay-73 also commenced flow-back unaided, strengthening the correlation between the wells for the purposes of an independent reserve assessment.
The EUR of Cambay-77H is estimated to be ~2bcf to 3bcf with an expected
CGR of 40bbls per mmscf gas.
Well clean up and flow test program to be completed in August.
Current guidance is for the clean-up and flow testing program to be completed in August.
Therefore we expect share price volatility in the near term until a stabilized flow-rate is announced.
Blue-sky upside which could materially re-rate the company. In a success case, 77H could materially re-rate OEX.
Our estimated value upside on a commercial flow-rate for the 77H well is ~15c/share (based on OEX's net 2C resources of 222bcf gas and 37mmbbls liquids).
Magna ups the ante.
Magna Energy (Magna) highlighted its confidence in the Cambay asset by recently increasing its shareholding in OEX to ~19%. We believe Magna is trying to gain a foothold on OEX's register to increase its leverage to Cambay in the event a successful flow test is delivered from 77H.
We maintain our Speculative Buy recommendation.
Key near term catalysts include: 1) 77H well updates during clean-up (July 2014) and 2) Well testing results of 77H (August 2014).
|edgein: I was offline most of yesterday and missed that OEX had this news. Great to see production get off the ground finally for OEX. Looks like the plan to get to breakeven this year is now well underway. If these wells keep outperforming expectations we may even turn cash flow positive before we get the main event and the drilling of those long lateral production wells. Come on Dr Watts don't sit on that $500m, get Cambay's reserves funded and reflected in the share price. Once funding is sorted we increase from 20-26mmboe (half of which is oil and condensate). Our largest shareholder is bound to want to contribute to the full development of this huge asset and get more of that vast contingent up to 2P. Regards, Ed.|
|teraferma: Tipped in Shares Magazine. Courtesy of Callum on LSE board shares mag via alliance trust email Oilex targets cash flow Investors’ patience with hydrocarbons play may finally be rewarded Tom Sieber Unconventionals play Oilex (OEX:AIM) could interest risk tolerant investors as the group heads for maiden production from its 45%-owned Cambay tight gas field. Chief executive Ron Miller tells Shares the group aims for its operations in India to be ‘cash flow positive’ by the latter part of this year. A re-rating from 3.33p toward house broker Westhouse Securities' price target of 7p looks possible if the £22.8 million cap can deliver on the cash flow milestone. Although Oilex's share price has fallen in sympathy with the wider sector in the past year, it made a significant breakthrough when its Cambay 77-H horizontal fracked well essentially ‘cracked the code’, proving that techniques used to unlock shale gas in the US could be successfully applied at Cambay. Shares says: "If Oilex can execute there could be significant upside." Because the asset is located in the highly industrialised state of Gujarat the company is to receive in excess of $8 per thousand cubic feet for its gas and there’s ready access to infrastructure. The next job for management is to secure funding for two more horizontal wells scheduled for the fourth quarter with reserve based lending flagged as one solution. Shares says: BUY Oilex|
|ironhorse: All the news for OEX in India is good but it's share price is rubbished at 1.83p what is going to move it??|
Oilex Most Recent Trade
|Trade Type||Trade Size||Trade Price||Trade Date||Trade Time||Currency|
|O||1,647||1.65||04 Sep 2015||08:41:15||GBX|