re: Ann: Oilex Timor Sea Farmout Goes Uncondi...
Most interesting part in the ann is
"Planning for the initial, two-well drilling program is well advanced and Oilex is currently in negotiation with a preferred contractor to secure a rig to drill the Loré and Lolotoe prospects. These prospects have estimated mean prospective resources (on 100% basis) of 195 million barrels of oil and 90 million barrels of oil respectively. Drilling may commence in fourth Quarter of this year."
This should give more confidence to the OEX investors...
OEX Price at posting:
24.0¢ Sentiment: None Disclosure: Held