What I like about the announcement is the following quote "Oiles is well positioned to conclude its farmout negotiations to assist in funding the drilling of the required wells under the PSC". That is that farmout negotiations are still on track. However, I was hoping that the announcement would have been about farmout partners. Prior to the announcement OEX was trading at 18c and it finished the day at 17c. 2.2 million shares were traded today on the ASX with the majority of activity at the 18-18.5c mark.
OEX Price at posting:
15.6¢ Sentiment: None Disclosure: Held
