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
  -0.005 -2.78% 0.175 15,038,257 08:01:22
Bid Price Offer Price High Price Low Price Open Price
0.16 0.19 0.18 0.175 0.18
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -3.25 -0.10 6
Last Trade Time Trade Type Trade Size Trade Price Currency
09:24:47 O 100,000 0.165 GBX

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Date Time Title Posts
04/3/202122:34OILEX - Significant upside at Cambay and Canning basin23,462
27/9/202012:41Above 8.5p targets 12p again for Oilex (OEX)77
14/12/201812:02OILEX HUGE POTENTIAL & ISA-ABLE.4,825
04/12/201515:03Oilex 2014 and onwards188

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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 0.18p.
Oilex Ld has a 4 week average price of 0.09p and a 12 week average price of 0.06p.
The 1 year high share price is 8.60p while the 1 year low share price is currently 0.06p.
There are currently 3,193,853,957 shares in issue and the average daily traded volume is 78,355,725 shares. The market capitalisation of Oilex Ld is £5,589,244.42.
martyminer: Advanced talks continue. Anyone suggest a timeline here and thoughts on how news will affect share price.
hasago: The group im in on this is saying stop looking at the share price and wait until next mon-tue. No announcements due until early next week
grapevine32: Just the deal to be announced in detail now, the genuine expected share price will be 1.1p on the announcement. Its not the dream we had all hoped a good return for the patient ones who did not ditch there shares
grapevine32: When they continue trading on aus market shortly we expect a 400% increase in share price. The Uk market will be ridiculous as people scramble to buy shares
hasago: Alot going on with this share stock right now , expect a big lift in the share price and stabilise at the higher price
josephrobert: Looks like the sales were mopped up by a purchase or two including the 20m - which was reported shorly after the bid was about to drop The Indonesian resource seems very attractive and came out of the blue: hTTps://' target='window'>hTTps:// Assuming the partner isn't another bandit and politics are going with us not against, on face value this is a very attractive - short term turn key production, plenty of resource to prove up in addition to what is quoted in the old RNS. Is the site, Pendalian-3? connected to the pipeline or will it need to be connected with miles of new pipeline? Fingers crossed that we are awarded the PSC as this will be a game changer and save the share price if Cambay blows up in our faces. Certainly it would make OEX investable once again.
josephrobert: A few thoughts... The proposed transaction is a transfer from Oilex to Doriemus in return for listed equity in Doriemus. The proposed transaction is a dramatic reversal to the published reasons why the Cooper Eromanga Basin Assets were bought. It took 2 years of time, effort and expense to buy the assets and then the company proposals to sell them in 4 months? There is no reason in today's RNS that justifies the reversal. OEX makes a profit on paper- i.e. the carrying asset value is less than the probable value in Doriemus shares. Oilex has paid cash and issued OEX shares for assets in the last 4 or so months and converted into Equity that cannot be sold within 2 years from date of issue. Considering our published cash reserves, our probable level of cash at £nil and having no idea where the cash is coming from which based on published information and assuming that the company is being run for the benefit of all OEX shareholders appears not to make little sense. The proposed transaction increases the risk of Oilex shares - Oilex has made a considerable effort in diversifying the country risk successfully - if you look at a chart in diversifying risk you need 3, but preferably 4 ways. If there are more than 4 ways to diversify the risk the reduction in risk is minimal. Diversifying by 2 increases risk from 3 by a considerable amount. The transfer removes control of the asset from Oilex to Doriemus. The transfer of the chairman without a immediate replacement increases uncertainty and reduces confidence in OEX. The proposed transaction ensures that BL and JS continue their interest in the Cooper Eromanga Basin Assets even if OEX is controlled by a third party via a takeover or a party with a controlling shareholding in OEX. The Cooper Eromanga Basin Assets are proposed to be being included in a company that already has AUS assets. That means synergy of scale. Incidentally Doriemus has an interest in Canning basin. OEX had an interest in Canning - RIP 31/7/18. There is a question mark if this proposed transaction is related to Cambay's future . It is debatable if we can raise more with or without the diversified assets. > There appears to be no real advantage for OEX shareholders for this transaction > Doriemus may well be a more attractive asset to invest in if the transaction goes through. 1bluehorseshoe - 29 Jan '20 - 11:00 - 22929 of 22933 - quite so Noirua - 29 Jan '20 - 11:00 - 22930 of 22933 - Lenigas - no evidence of DL being OEX chairman Silversoldier - 29 Jan '20 - 11:48 - 22931 of 22933 - nope, no more cash other than reduction in future liabilities
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 what is happening? Hopefully the Market will be proved wrong on this occasion. GLA
josephrobert: Thanks for your message Teraferma. Yes, how much OEX will farm out is something that I haven't considered. My initial thought was does it matter. The second was is there anything in the public domain that would give an indication one way or the other. In summary looking at the RNS's etc it appears that OEX would want some interest, as part of a diversified oil and gas company, from the EIS to India to Australia, to diversify any country specific risks. However it all depends on a conversation between two parties which unfortunately we do not know what they initially want and what they will agree to. Clearly Oilex's torturous history shows that being a one hit wonder doesn't necessarily allow you to build a stable and growing business. Cambay was always for a much larger company to complete - the risk we took in 2015 - could have paid off nicely and something to build upon. However as mentioned in a post many years ago commerciality doesn't come in one or two drills unless you get very lucky. Optimisation would have taken time from 77H, but investors would come on board as certainty after a successful 77H would have been much larger than where we are today. Then again we could have got it taken away from us by one way or another - the more something is worth the more people want it - read up about Imperial Energy if you have time or inclination. I thought Oilex would be interested in a free carry and farm down to a level where they can do so - that means cash would freed up for EIS and Australia both initially and ongoing - Cambay can provide a big reward but it is clearly cash intensive and at the moment I wonder what OEX really considers the chances of it ever being commercial. Clearly we have very little to go on so the answer depends on a conversation between two parties who are working on contingent resources with the inherent uncertainty. However a suitable partner, i.e. someone big enough, would be interested in taking all the risk in drilling to strip out any partner risk - we have seen how destructive a partner can be - 100% of an asset is worth more than the sum of it's parts. Clearly, there is no hard and fast rules on what a fair result of a conversation will be based on uncertain information. In an attempt to answer your question I was not sure it matters too much on how much OEX will retain of the asset. Or even when we need to consider it. At the moment our focus is on how much is it worth in it's current state. Once we know that we can raise funds to develop offshore (EIS) and onshore (Aus). Let us say 100% of Cambay is worth £25m - based on my previous notes - we own 45% - so Cambay plus plans plus cash + owed cash + listing is getting on to 3 times where we are now. There is no point in being exact on what that means in share price terms, but I think it gives a reasonable 'guessestimate'. The reason why I mentioned the valuation was to see if that was sufficient market cap. for their plans in the EIS and Aus - clearly not now but 2 or whatever years down the line. That gives me the thought that in addition to the diversification argument of retaining Cambay they need a growing Cambay to boost the share price so they can raise funds for EIS/AUS. Offshore means big pockets so I can't see how they can fund even a bit of it unless the plan is to do the initial work and free carry on that. However by then OEX will look very different to our thoughts today. Based on the 'Market Cap. driver' argument then it would make sense to retain the resource on the premise that it gets developed with due haste - so it needs a ambitious partner - who can throw experience and cash to get it developed quickly as possible. That means OEX needs to assess any partners if they have the opportunity and if it makes a difference. Apparently there have been some informal suitors, but that could be just a fact finding mission. In addition I get the impression that JS would be a reasonable partner to have. I'm basing that on what we can all see, and a conversation I had with him maybe two years ago. Anyway, they are a few thoughts on it, I don't know but it does matter :) The main thing for long standing investors is can we break even. I think some of us can as long as we can get average down and average down aggressively. Personally I have done so and although I haven't checked what my average is across three accounts, it is now down to what I think it is currently worth. The other thing is why the share price is at current levels - the answer is that we don't have any cash to speak of - so irrespective of the recent developments/increase in certainty and timing of them - then it largely comes down to how much cash we have as that indicates if we are going bust. As an example If I'm an PCM at Charles Stanley and I phone an advisory client up and say that one of your investments have next to no cash but you can make 10-20% on the placing made a few months ago it if you sell today, the advisory client will bit their hands off. GLAH
bernymadoff: People saying this is being ramped either feel they've missed the boat or simply haven't done their research. OEX is only valued at £7m because of the problems it has faced trying to develop Cambay with JV partner GSPC. We had to take them to court to get them to stump up their share of the drill program costs and when we won that they started using delaying tactics to avoid having to pay the damages that the court ordered. Now however the situation has changed. GSPC are selling many of their assets including Cambay and to all intents and purposes it does look like the new partner will be someone with deep pockets who will allow us to recommence the drilling programme scheduled for 2020. Indeed in recent comms OEX has said it has been busy making preparations for the resumption of drilling. You would only do that if you were sure that the new set up was going to deliver. On top of that we are still pursuing GSPC for the $3m court award. I'm not sure we will get all of it but I'd be staggered if we didn't get the bulk of this cash. Last November the share price spiked to 0.7 on the court decision to award us $3m. Now that GSPC are almost out of the picture with a well financed replacement due to come in there is every reason to expect the share price to go back to 0.7 at a minimum. I'm not even factoring in any value that the East Irish Sea and Cooper Basin acquisitions should add to the company. In short the problems that caused the share price to collapse are being removed and the share price should rise back to more sensible levels.
Oilex Ld share price data is direct from the London Stock Exchange
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