trading halt announcement, page-22

Benb86,

They do have significant cash reserves at the moment.

However as far as I was aware the drilling program was funded by joint venture partner (Gujarat.....or however you spell it!) - 100%

They would no doubt be getting them to fund the clean up - I assume that would be standard to request them to pay since there JV was 100% cost share.....not that I imagine Gujarat would be rapt forking over money they did not envisage in the drilling plans - I guess they could have some contingency for joint funding with these type scenarios - not sure though....

Either way, if the reserves figure is good on Tuesday then both joint venture partners would feel better paying the extra clean up funds.

I wait with baited breath - if the share price got to 55c on the hype at the beginning of the year I will be interested to see where it settles at now that hopefully the hype is being replaced with cold hard facts and figures - at least from the reserves perspective!

If the oilex board had a sense of occasion they would announce at the end of week the cleaning program started....or finished....to keep the momentum going.....but one step at a time I guess.