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Share Name Share Symbol Market Type Share ISIN Share Description
Oilex Nl LSE:OEX London Ordinary Share AU000000OEX8 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 0.425p 0.40p 0.45p 0.425p 0.425p 0.425p 541,381 07:55:12
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.1 -8.5 -1.3 - 5.02

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Date Time Title Posts
25/5/201622:48OILEX - Significant upside at Cambay and Canning basin14,696
16/4/201614:30Above 8.5p targets 12p again for Oilex (OEX)55
04/12/201515:03Oilex 2014 and onwards188
11/5/201510:51Bust in 6 months!15

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Oilex (OEX) Top Chat Posts

Oilex Daily Update: Oilex Nl is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker OEX. The last closing price for Oilex was 0.43p.
Oilex Nl has a 4 week average price of 0.50p and a 12 week average price of 0.61p.
The 1 year high share price is 3.88p while the 1 year low share price is currently 0.28p.
There are currently 1,180,420,686 shares in issue and the average daily traded volume is 1,189,762 shares. The market capitalisation of Oilex Nl is £5,016,787.92.
mgellie: Any thoughts on why no movement in share price despite so many buys?? Suspicious to me
teraferma: MGellie, Some interesting points to consider when trying to fathom why this is being delayed. Zeta initially always wanted to defer payment for the remaining allocation of shares, they wanted 5 months which would have meant payment in December, but were only granted 3 months by ASX rules. They subsequently proceeded with legal action in November. Are they under cash restraints, they share price hasn't done too well in the last few years. They also have histroy in taking majority positions in companies. GSPC wanted a 6 month flow test on 77, this should be nearly complete. May be everyone is waiting for this. A good result would mean GSPC agreeing to cough up and proceed with the work program. Third scenario (mentioned in an article), is that GSPC are looking to offload Cambay with Zeta getting a percentage via Oilex as some kind of deal.. Who knows, but it will all hopefully come to a head soon. p.s. Not to mention Magna who are sitting on $250 Million to invest in Indian Oil and Gas assets. (I think we will see more From Mike Watts once the Cairn tax issue is resolved.
paul the octopus: Mad place indeed, just as OEX price is.Let's see what Mr Solomon can bring back then.
josephrobert: Nice spot Tera. There must be something to talk about I guess if they have a meeting about it - certainly a long way to go for a bit of window dressing. If the share price is nudging up - though too early to tell - then I'm surmising that the talks were constructive - I can't see Oilex being able to keep the results watertight - I maybe wrong. The timing fits in with the hearing in a couple of weeks or whatever it is - OEX need to analyse and evaluate GSPC's position - then communicate it to stakeholders. GLAH.
josephrobert: Currently most of us are nursing heavy losses. Each of us is likely to have gone past the point of asking if we have made a mistake, past the point of breaking even and to the point of asking if we will ever get decent amount of cash back. At the moment OEX have little or no production, which means little or no inventory. Cash has shown to have been burnt up like Guy Fawkes doused in petrol over the last financial year. I imagine I have lost more than most, but I'm not concerned unduly. Yes, I'm annoyed with myself in not selling at the start of August last year, yes I've gone through the mill, but unlike many other O&G companies OEX still exists and has the funds to grow into a production business on the back of a bit of luck with the 2 sets of drill, core and frac. Previous darlings in the sector are on their last legs without a viable business in the current environment, with little or no market cap - CAZA £1.8m / TOM £3.3m / NEW £3.4m - how can they raise anything like the $30m on the back of such miserly market caps? Without a decent amount of cash how can they get a decent amount of production out of the ground? Only until OEX is successful operationally will we get a decent bit of shareholder value. In this environment none of us can expect anything else - Indian Natural Gas prices are based upon a basket of oil prices across the world and apathy for the sector is strong. But I don't care about 73, 77 or B3; nor the 5 well workover campaign. All I care is getting the 78 drilled and the first step in this is based on the announcement back in August. hTTps://www.oilex.com.au/investor-information/announcements/announcements-detail/2015/08/25/august-2015-operations-update The contracting and procurement process for the 2015/16 drilling campaign is nearing completion. Technical and commercial evaluations for 13 of 14 major tenders are finished and final evaluation and approval processes are in progress. I may be wrong but at some point there will be an announcement soon with the details of the drill rig. As long as the actual drill is not far away, and they keep indicating the very end of the calendar year (perhaps they can make it clear in every RNS that it is December, not the very end of the financial year H2 2015), then I would suggest that the early movers amongst us have already quite realistically positioned themselves and there are a few of us ready to invest upon that news release. For me the apathy across the BB's in the sector is a positive signal - at some point the divergence between OEX's share price and it's progress in getting closer to using a decent amount of cash to attempt to prove up a very decent amount of production will converge. When that happens the share price will be a lot higher and there will be some kicking themselves that they didn't invest earlier. GLAH.
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
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.
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

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Trade Type Trade Size Trade Price Trade Date Trade Time Currency
O 49,122 0.43 26 May 2016 16:13:41 GBX
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