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% 0.22p 0.21p 0.23p 0.22p 0.22p 0.22p 4,868,844 07:50:45
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.3 -20.3 -1.8 - 2.60

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Date Time Title Posts
27/6/201707:15OILEX - Significant upside at Cambay and Canning basin15,644
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) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2017-06-27 15:22:540.22469,3091,009.95O
2017-06-27 15:18:380.22447,596971.28O
2017-06-27 14:06:490.22100,000217.00O
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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 0.22p.
Oilex Nl has a 4 week average price of 0.16p and a 12 week average price of 0.16p.
The 1 year high share price is 2.28p while the 1 year low share price is currently 0.16p.
There are currently 1,180,420,686 shares in issue and the average daily traded volume is 1,912,611 shares. The market capitalisation of Oilex Nl is £2,596,925.51.
pugil: Disappointing announcement in my opinion. I know this pre work for drilling has to be done but the $1m raised here is a drop in the ocean of what is required to move the Cambay project forward and it comes at the expense of a huge dilution in shareholder value. The only thing that is going to re-ignite any serious interest and share price movement here is the next drill that we were promised this year but I can’t see that happening now. Confidence is not helped by the fact that this company has spent millions on work over programs and testing at Cambay before with little to show for it. It needs someone like Magna or Zeta to commit funds for the drill soon otherwise all I see now for the medium term is further dilutions, capital re-organisations and more erosion of value for long term holders like me. No point selling at these levels so not much choice but to hold now and hope for a turn around, however, I think the return to the 12p levels is looking a lot further away today.
steveglobal4: looking at the trades yesterday and now today, I'm guessing the placement is .37p ish, otherwise i think he share price would have fallen at lot more, as the whole market is one big con in my eyes
steveglobal4: We've had all the messy round now with the share price last few days, tommorow now may be the time to start loading up again,
steveglobal4: Cambay must be worth 16 times the share price before we start, The share price has been silly low for too long
investment dave: OilexOil exOil. Ex.Oil - price is rocketing Oiled - share price should rocked based on the name
josephrobert: Not much more than we already knew in the the latest RNSs, did spot that the Chief Geoscientist, Mr Bekkers ceased employment effective 30 September 2016; IHL contract expired in July 2015, but was never renewed. B3 is fully impaired, the rest of production is minimal, so has reverted to explorer once again. Need the core sample and depending on results frac next year, without that happening I think cambay doesnt get the psc extention, so cambay becomes worthless to Oilex and Oilex becomes worthless. Without an agreement from Gspsc to allow oilex to sole fund Oilex runs out of cash I guess. By walking away from funding core samples, it is walking away from the key to unlocking cambay, so I guess gspc will have options to participate in any future drilling activities. No clearer why GSPC has not been paying all the jv bills for years, no clearer what has been happening behind the scenes, when will the discussions end about monies owed? Seems Oilex fate not in their hands, as there doesn't appear anything Oilex can do to get the share price up to a decent level. Hopefully there is a deal in the making to sole fund the core sample drill, otherwise it is preparing for potential interest. There is a possibility that Oilex gives up in six months time, returns cash to shareholders. GSPC replaced by Magna is as much as we can hope for.
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:// 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.
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.
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
Oilex share price data is direct from the London Stock Exchange
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