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
  0.00 0.0% 0.0725 2,502,739 07:31:46
Bid Price Offer Price High Price Low Price Open Price
0.065 0.08 0.0725 0.0725 0.0725
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -3.25 -0.10 2
Last Trade Time Trade Type Trade Size Trade Price Currency
16:21:54 O 1,000,000 0.065 GBX

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Date Time Title Posts
20/10/202011:29OILEX - Significant upside at Cambay and Canning basin23,177
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 (OEX) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2020-11-26 16:21:550.071,000,000650.00O
2020-11-26 16:02:550.0770,00045.50O
2020-11-26 10:48:090.0715,0199.76O
2020-11-26 10:16:400.07717,720488.05O
2020-11-26 08:30:590.07700,000457.10O
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Oilex Ld (OEX) Top Chat Posts

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 0.07p.
Oilex Ld has a 4 week average price of 0.07p and a 12 week average price of 0.06p.
The 1 year high share price is 0.24p 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 4,153,182 shares. The market capitalisation of Oilex Ld is £2,315,544.12.
catchingmice: I wait until the end of this month then take a hit and increase my holdings in several gold stocksDoing well at the moment so if i put in what i have left in here and i make 50%-70% of my losses from OEX back I'll settle for thatLOL
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.
fatfish: first time i ever looked at these they were 29.75p a share WOW. last time i put a reminder on the side the share price was 4.5p Only reason i was interested was because you could put them in an ISA which at the time was a more stable share. Look at it now, what the hell happened. Same as all aim shares
josephrobert: Today's 2nd RNS offically states TH Investments for the first time and also explains £100,000/£0.09 of the 119m. Following on from my previous BB posts it cannot be clearer at this point that TH Investments is buying GSPC's slice. Considering that the historic valuation of Cambay was way in excess of the OEX MCap it made sense for the new partner to buy OEX shares, but considering the average volumes, doesn't make sense to buy in the market. The market has anticipated the result of the first RNS, but not the second, surely the share price is wrong.
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
bloomberg2: Oilex Ltd Sale of Cooper Eromanga Basin AssetsSource: UK Regulatory (RNS & others)TIDMOEXRNS Number : 3034BOilex Ltd29 January 2020ASX-RNS Announcement29 January 2020ASX: OEXAIM: OEXSale of Cooper Eromanga Basin AssetsOilex Limited (Oilex or the Company) is pleased to announce that it has signed a binding Heads of Agreement (HOA) with Doriemus plc (Doriemus), an ASX-listed company, for the proposed sale of all of its interests in the Cooper-Eromanga Basin to Doriemus.Subject to the terms of the HOA, it is intended that Doriemus will acquire 100% of the issued capital of CoEra Limited (CoEra), a wholly owned subsidiary of Oilex (Proposed Transaction). At completion, CoEra will own all of Oilex's direct and indirect interests in the Cooper-Eromanga Basin including:-- 79.33% direct interest in two Petroleum Exploration Licences (PEL 112 and PEL 444) (with an option, as previously announced, to acquire the remaining 20.66%); and -- right to acquire 27 Petroleum Retention Licences from Senex Limited (Northern Fairway PRLs). As consideration for the Proposed Transaction, Doriemus will issue 28,301,887 CHESS Depositary Interests (CDIs) (representing 28,301,887 shares in Doriemus) to Oilex (or its nominee(s)) upon completion of the Proposed Transaction. The Company will nominate 2,830,188 CDI's of the abovementioned consideration to Orthogonal Enterprises Pty Ltd (Orthogonal) for past and future services rendered in building the Cooper-Eromanga portfolio.The Doriemus' closing share price of A$0.03 on 28 January 2019 values the net consideration payable to Oilex at A$764,000. Alternatively, based on Doriemus HY2019 financial statements, the Net Asset Value is over A$0.09 per Doriemus share valuing the net consideration payable at A$2.4 million. In addition, Doriemus will also irrevocably and finally assume the obligations of Oilex under the Senex Agreement to acquire the Northern Fairway PRLs, namely the assumption of existing abandonment liabilities, estimated at $1.1 million, payment of future PRL annual fees and work programme obligations including exploration well commitments in PEL 112 and PEL 444.The CDIs to be issued as consideration for the Proposed Transaction are subject voluntary escrow conditions and will only be able to be disposed of by Oilex and Orthogonal in certain limited circumstances for a 2-year period following their issue.The Proposed Transaction is subject to the satisfaction of various conditions precedent, including in particular, Doriemus obtaining shareholder approvals for the issue of various securities, the completion of a minimum $3.5 million capital raising by Doriemus, completion of due diligence by each party on the other and execution of definitive transaction documentation between Doriemus and Oilex in respect of the Proposed Transaction. The HOA sets out that these conditions precedent need to be satisfied by 30 June 2020 or discussions will be discontinued. Accordingly, whilst both the Board of Directors of Oilex and Doriemus are confident that the conditions precedent will be satisfied, there can be no guarantee that they will be, and therefore no guarantee that the Proposed Transaction will complete.The ASX has confirmed that Listing Rule 11.1.3 does not apply to Doriemus in regard to the proposed acquisition and associated transactions by Doriemus.CoEra and its subsidiaries were acquired by Oilex after 30 June 2019 and accordingly, there was no revenue or earnings attributable to Oilex for the year ended 30 June 2019. As at 31 December 2019, the Cooper-Eromanga Basin assets being disposed of by Oilex had an unaudited carrying value of A$331,000.Assuming completion of the Proposed Transaction, Oilex will no longer have any oil and gas asset interests in Australia, and instead with be focused on further developing its asset base in India and the UK Continental Shelf (UKCS).Proposed Board ChangesSubject to completion of the Proposed Transaction, Doriemus proposes to appoint Oilex's Chairman, Mr Brad Lingo as the new Managing Director of Doriemus. In this event, Mr Lingo would also step down as the Chairman of Oilex following the appointment of a new Oilex Chairman. It is also proposed that Oilex's Managing Director, Joe Salomon, will be appointed as a Director of Doriemus. The independent directors of Oilex are currently conducting a formal process to appoint a new Oilex Chairman.Proposed Doriemus Capital RaisingAs part of the Proposed Transaction, Doriemus intends to undertake a capital raising at a price expected to be $0.035 per CDI to raise a minimum of $3.5 million and a current proposed maximum of $5 million (Capital Raising).It is proposed, subject to agreeing legalities and structuring mechanics, to include a priority offer to eligible existing Doriemus and Oilex shareholders (being those Doriemus CDI holders or Oilex shareholders (whether through Common Shares or depository interests) with a registered address in the United Kingdom, Singapore, Australia and New Zealand on the record date, which date is yet to be determined) for up to $1.5 million ("Priority Offer"). At this stage, the Priority Offer is expected to be made under a disclosure document prepared by Doriemus in accordance with Chapter 6D of the Corporations Act 2001 (Cth).It is proposed that participants in the Capital Raising will also receive one (1) free option for every three (3) CDIs / shares subscribed for in the Capital Raising. It is further proposed that the options will be exercisable at A$0.08 on or before four years from the date of completion of the Proposed Transaction (Attaching Options). It is currently intended that the Attaching Options will be listed on the ASX by Doriemus, subject to meeting certain ASX listing requirements.Further details of the proposed Capital Raising will be provided in due course.Commenting on the transaction, Managing Director, Joe Salomon, said:"The Board has assessed many options to maximise value for our shareholders and the proposed sale of the Cooper-Eromanga Basin assets to Doriemus ensures that Oilex retains material leverage to the Cooper-Eromanga Basin assets without the associated funding burden and consequential dilution. The decision also reflects Oilex's dominant European shareholder base and trading volumes on the London AIM.Importantly, it allows the Company to focus on its core assets in India and expand its portfolio in the UKCS which we look forward to progressing. In any event, it is anticipated that eligible Oilex shareholders will also have the opportunity to increase their exposure to the Cooper Basin portfolio via the priority offer in the proposed Doriemus capital raising. We will update shareholders in due course with further details in this regard."For and on behalf of Oilex LtdJoe SalomonManaging DirectorFor further information, please contact: Investor AIM Broker AIM Nominated Media Enquires Media Enquiries Enquiries Novum Securities Adviser (UK) (Aus) Oilex Ltd Broker Strand Hanson Vigo Communications Citadel-MAGNUS Joe Salomon Colin Rowbury Limited Public Relations Michael Weir Managing Email: Nominated Adviser Patrick Email: Director crowbury@novumsecurities. Rory Murphy/Ritchie d'Ancona/Chris mweir@citadelmagnus. Email: com Balmer McMahon com Tel: +44 20 Email: Email: Tel: +618 Tel: +61 7399 9427 oilex@strandhanson.c patrick.dancona@vigo 6160 4900 8 9485 3200 UK Australia Australia Tel: +44 20 chris.mcmahon@vigoco 7409 3494 UK Tel:+ 44 20 7390 0230 UK This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit Dow Jones NewswiresJanuary 29, 2020 05:40 ET (10:40 GMT)
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: Teraferma 5 Jan '20 - 15:49 - 22746 of 22804 - well clearly we don't have any oil and gas assets, just contingent resources, and I always discounted Canning at 0 - unless oil turned to $200USD - so I too largely have the same feeling as the EIS & AUS. However if the value of Cambay is unlocked then I can see we could have sufficient organic growth from Cambay to initially fund the other concerns which I imagine will need little cash for a while - the higher the Market Cap the greater the ability to fund organic growth through share issues. I am still comfortable with basing OEX's share on a conversation sometime down the line - (like GSPC once stated, I don't necessarily believe that the incoming party have has had discussions of any note with OEX - probably just fishing - however Oilex does/once pointed to drilling this year). Gut says that if OEX believes in the Cambay field then it will do it's best to retain the maximum possible. Recently RKH has done well to keep it's share respectable so I hope we can too. The valuation of mine in £ is the same in $ as yours as we are basing it on the same info. in 2013 but I am hoping that the macroenvironment is supportive of larger demand so lets hope our basis is conservative. The key thing is a good quality partner who can pay it's share and more to develop Cambay - we don't want any dodgy agents (LEK - I was one of the lucky ones with sales of 50% on one day and the rest on another) or little known far eastern concerns who have trouble raising the £'s (BLVN back in the day etc etc). BTW curious of the mechanics of our right of first refusal. I can't see that that OEX will farm down just to fund the two vertical drills - 45% to 10-15% - that's a too high a price to get us a year down the line. That would be a huge disappointment to me but clearly the share price would be a lot higher - 1) Relief that it is over and 2). We have an assigned value which is greater than the MCap. How much has OEX stated the price of 2 vertical wells? Some of what we are discussing is speculation - so all we can do is to take our positions and hope for a good result.
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.
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