put things into perspective

I am getting tired of hearing the bleating of coinvestors who do not want to take responsibility for their own actions. You all knew OEX's history and still thought Timor was a decent punt, which it was (and still is)

Yes the company has made several strategic errors during the crash but who didn't. Every company out there was changing their direction to deal with the downturn.

To say that management will be sacked when the Timor campaign also had other parties involved is preposterous. So sack the managment of PPP, or Japan Energy as well?

If you read the latest drill update all parties are reviewing their commitment to the southern section after looking at the recalibrated sesmics. This is entirley normal. Some investors act as if drilling for oil is an exact science. The structural complexities for these areas is high, and have always expected it will take up to 5 drills before something is hit.

It is highly unlikely that oilex will go it alone and to say that the whole license will be devoid of any commerical hydrocarboon quantity given the surrounding geology is stretching it. The story is not over and the block is hardly explored. Oil will go up and such risked adventures will become more attractive as more data is collected around the northern prospects of the license. I expect the current JV operators won't be that quick to walk away since over 80% of the worlds hydrocarbons are already nationalised.

Additionally it is the managements first strategy of a diverse portfolio that is keeping the company attractive . Yes Cambay is not a gusher, but it is still a saleable and developable asset. I think Oman should be revisited at least to offload or farm out given the higher price of oil in light of heavy crude refinement. I would be ineterested in reviewing the data they collected and any remapping of the license. We should seek a settlement with Indonesians reagrding West Kampar and move onwards instead of going for transfer of the whole license, even forgoing a good percentage of the $5 million owed. Even if it means we have to give up a bit of the license as well. Because at the moment we are angling for 60+% of the license as operator so we have room to move on this. Also publish the NW shelf seismics, even if they are preliminary interpretations, and start looking for JV's.

So there is room to move with the company, although it will all take time.

So stop your bleating and take the loss in stride, it is the game. It was your choice to stay in.