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Share Name Share Symbol Market Type Share ISIN Share Description
Oilex Ld LSE:OEX London Ordinary Share AU000000OEX8 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  -0.01 -4.65% 0.205 60,412,914 08:39:44
Bid Price Offer Price High Price Low Price Open Price
0.20 0.21 0.215 0.205 0.215
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -3.25 -0.10 9
Last Trade Time Trade Type Trade Size Trade Price Currency
16:27:09 O 19,500,000 0.20 GBX

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Date Time Title Posts
18/6/202119:35OILEX - Significant upside at Cambay and Canning basin24,249
06/4/202112:58Bust in 6 months!16
05/4/202119:05OILEX HUGE POTENTIAL & ISA-ABLE.4,827
27/9/202013:41Above 8.5p targets 12p again for Oilex (OEX)77
04/12/201515:03Oilex 2014 and onwards188

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Oilex Ld (OEX) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-06-18 16:15:000.2019,500,00039,000.00O
2021-06-18 15:27:100.20200,000400.00O
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Oilex Ld (OEX) Top Chat Posts

DateSubject
19/6/2021
09:20
Oilex Ld Daily Update: Oilex Ld is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker OEX. The last closing price for Oilex Ld was 0.22p.
Oilex Ld has a 4 week average price of 0.21p and a 12 week average price of 0.16p.
The 1 year high share price is 8.60p while the 1 year low share price is currently 0.06p.
There are currently 4,421,418,882 shares in issue and the average daily traded volume is 53,417,424 shares. The market capitalisation of Oilex Ld is £9,063,908.71.
11/6/2021
08:02
josephrobert: Yep nothing unexpected from yesterday so the price should stay rangebound. Like bluehorsehoe reminds us the upside is a lot bigger than most people think. 1TCF is big for a resource that could quite easily be a reserve based on 76 and 77 proving that gas is there (just hasn't be proven to be extractable). We need GOI approval,followed by 2 vertical wells - at this presumably point then they will need to consider a farmout before embarking on the horizontal drills. My best guessestimate is approval won't be given until at least September, then that indicates vertical drilling in Spring. They may announce some other projects after that - sounds they are exploring possibilities which may include asset swaps in the future. JS didn't need to mention UKCS so there may be some progress this year. JS also mentioned a watershed moment which after some 7 years of suffering for LTHs clearly we are on a cusp to changing from a zombie company beset by legal issues which only managed to survive because the rewards are high based on the possibility of large scale production. Once we get GOI approval it will unlock the share price - after all the project has large upside and will be explored with the two stage pilot studies. Hope it helps.
22/4/2021
08:33
csmwssk12hu: If you add together the equity raise and the options you get a share price around 35.2, when the share price is at 28 which it was prior to announcement then that’s pretty good imho, last time I seen someone willing to Put a few million into a small business at a premium was audioboom when they raised money at 225 with an share price at 175, market didn’t like it for about two months then it just took off and sits between £6 and £7 now six months after event, this could do the same, the news flow is what matters now and it should be all positive for a while, each time it will spike no doubt and each time it will fall back to a higher low hopefully, you can ride spike or ride the wave or sit on the beach, your choice, I’m more of a surfer.
21/4/2021
16:39
josephrobert: Interesting RNS It makes sense to issue equity - at this stage it is seen as a high risk play, ie debt is not possible as we have no income, farm in is too early as there isn't enough certainty that we can get the stuff out of the ground as my post on the 15th March 'Would love a farm in, but at this stage of development we should expect dilution, then more as we get further along the way. However with 100% of the resource and some development a farm in could be a real possibility.' Its quite normal for a company and a resource like ours to issue equity. OK the more money raised now and the more progress made before a Farm In means we can get a better price / terms with a Farm In partner as the level of certainty/understanding of the project increases. I'm not sure we want a Farm In partner now - if it was an option - as that might stall GOI giving approval and our terms may be poorer than negotiating later on. Plan should be to get 100% signed and sealed by GSPC, then GOI to approve, then we can look at options. During that time we can make progress with Cambay and if a Farm In partner comes in to the mix then the asset has moved on and if a potential partner is not approved by GOI then it is not stalling progress. In today's RNS 'The Company is considering various funding options for the drilling program including potential farm-in partners. To this end, several parties have expressed interest to the Company in farm into Cambay and the Company will consider its options in the ordinary course with due regard to the best interests of its shareholders.' Looks positive to have options and not to discount any of them. I wonder if the optimum time for a Farm In Partner is post drilling of the vertical wells. As for the size of the raise - back on the 5th April I wrote: 'So there are few known drivers to increase the share price over the next few weeks. People who sold around 40p will be patting themselves on the back for a while. There is a possibility of a smaller equity raise before the main finance is raised, after all the company has been running on fumes for a long time.' I don't know why there are two tranches at the same issue price with a sweetner for the 2nd tranche. Like LTHs it brings back unpleasant memories from 5 years ago; could be the Aussie listing rules - 10% at a max each time? The exercise price and dates does show that we should get final sign off by GSPC and GOI in June - probably week 2 or 3 if it is going to complete. £2.4m seems comfortably above what we need to pay GSPC which is reassuring and enables the company to move from a cash shell and make progress with firming up the plans for the two drills. Also good to see long standing investor Republic adding.
10/4/2021
10:58
josephrobert: The HotCopper post is instrumental in understanding what happened in 77H. In particular by starting a high risk drill at the end of a protracted time of high oil prices it would show that a share price could be decimated and there would be no second chance to raise at decent levels. Also I think the post makes clear when compared to the RNSs that there appeared to be a positive slant because of the lack of cash. Most PIs don't understand the importance of what is said and not said in the RNSs, perhaps understandably so coupled with the intial performance of the well. Tied in with the RNSs, rapidly declining share price and the price of oil, it underlines that OEX needed a lot more cash / better quality finance partners. Previously OEX raised cash from people flush will sucess of $100/barrel oil. Clearly if we get a farm in partner (which has to be approved by GOI) which will fund the 2 vertical wells it would improve the share price no end.
10/4/2021
10:31
josephrobert: At the moment people are reading into OEX to try to understand it and also to justify whatever they want - so some which held onto the shares upto 0.5p and are trying to justify why they didn't sell, some sold above where we are now and are considering getting back in -but at what price, some are sitting on the sidelines for an entry price that will never come - firstly they will intend to buy at 0.40p, then 0.33p, then in the twenties. There are some long term holders who didn't average down and some that did. Some of the long term holders sold up and must be feeling a great sense of relief - these guys will only question themselves if OEX goes up a decent amount from where they sold out. From the other board there are a number of interesting and recent posts which also show there are a lot of people who don't understand parts of the history of OEX, or who don't understand basic concepts of finance or able or willing to read a few RNSs. Unfortunately misinformation will not help us understand the past, present and future. That said a very useful link courtesy of Pacman on the other board hxxps://youtu.be/qvLyG4ylEbA Yes it's dated, but still very relevant - worth watching fron 7mins in Also from Pacman 'Posted today on hotcopper down under by one of our oz investor friends-: I'm a long term lurker and even longer holder of the stock. I'm an absolute novice but this is the best news I've seen for this stock in years. I am acquainted with one of the former drillers on the Cambay Well (he no longer works there - he's a fracking guy which they don't need at present). I held the stock before we met but I have lots of mates in the industry so wasn't surprised when this came up.I recall that at the time when the flow rates were well below everyone's expectation my contact said several factors played into this and it was rare to get it right first time and they'd not had enough tests to find the best approach. I also recall they had an on site accident down the drill hole that cost a lot of money to correct to get the well operational.This was money they desperately needed to use to test other pressures and sand sizes to maximise the flow. Someone else in the industry would know what that meant but I do know that the additional testing work was never done as they ran out of cash. I also recall that the biggest disappointment they had was the test wells didn't have the gas flow but rather light oil flows instead (if memory serves correct). This contact of mine has over 20 years in the industry all over the world and he truly felt the reason the site was under expectation was the lack of cash to test, not that there weren't reserves with potential to deliver. They need gas, not oil. Getting to just the gas was however the goal they never got to due to the cash issue.I see this news as very positive because it gives a lot of hope to getting the investment needed to continue the work. How they seek the funding is the only question mark. If its a further dilution for all those long suffering shareholders I'm not going to be too pleased. Either way I'll hold as the region needs gas and now we might finally get some new capital injected to extract it. finally.Good luck to all'
07/4/2021
08:10
demark: this is what i wrote yesterday after that interview by one of the OEX directors, and mms have duly taken care of the sp, these bods ought to be kept away from giving interviews, dyor DEMARK6 Apr '21 - 11:44 - 23877 of 23920 Edit 0 1 0 thanks for sharing the interview link... i was not impressed at all with the guy from oex as there is no urgency from oex to drive the project forward, and instead he said it might take months for the legal ownership of GSPC's 55% to be transferred to oex.....mms might take this as an opportunity to drag the share price down, time will tell, dyor
06/4/2021
11:44
demark: thanks for sharing the interview link... i was not impressed at all with the guy from oex as there is no urgency from oex to drive the project forward, and instead he said it might take months for the legal ownership of GSPC's 55% to be transferred to oex.....mms might take this as an opportunity to drag the share price down, time will tell, dyor
06/4/2021
09:51
demark: so the the share price in sydney for oex has to drop by 40% tonight to get to the current share price in the uk, it ain't going to happen as the buying pressure will be huge over there tonight, tie will tell, dyor
15/3/2021
11:48
josephrobert: Magna didn't pay $10m for 25% of Cambay 14rubysky1234 - Mar '21 - 23:23 - 23470 of 23473. GOI didn't approve a transaction to farm down Oilex's share of Cambay. (hTTps://uk.advfn.com/stock-market/london/oilex-ld-OEX/share-news/Oilex-Ltd-Magna-Cambay-Transaction-Update/59467761) (hTTps://uk.advfn.com/stock-market/london/oilex-ld-OEX/share-news/Oilex-Ltd-Magna-US-3-8M-Equity-Sale-Proceeds-recei/60161719) hTTps://uk.advfn.com/stock-market/london/oilex-ld-OEX/share-news/Oilex-Ltd-Magna-Cambay-Transaction-Update/62053048 So instead of a 10%`share of Cambay they got the equivalent of it in Oilex shares instead and got diluted big time. That said the agreed transaction of Cambay was indeed $2m for every 5% (max 15%) back in 2013.That valuation was made between 2 drills (76H and 77H). So $2.2m for 55% demands an explanation. Could be becasue of the Pre Nelp pricing structure has changed - previously Oilex would be able to charge a different amount for it's oil and gas and we don't know it has changed - or the chance of success for progressing Cambay is seen by the market as much lower post 77H or some other unknown; it does explain the low share price - I admit I was sceptical of the glass half full implications for the lessons learnt exercise by Schlumberger- it has always been an opportunity that should be expected to take a number of attempts to work out if oil and gas can be commercially extracted.
20/1/2020
11:03
geoffmanana: I think the Market is trying to tell us something. I'm a very long term investor here, and very rarely post these days. I even managed to sell my holding at 12p many years ago. Unfortunately I have repeatedly got back in. OEX share price should be much higher than it is......so what is happening? Hopefully the Market will be proved wrong on this occasion. GLA
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