Niako,"July 2010 was the last LOW point from memory but not...

Niako,

"July 2010 was the last LOW point from memory but not below 7 cents...so how is that you have succesfully traded these buying at 7 cents???" Your comments

Niako,

I thought I made it clear with my previous comments. I've successfully traded this stock in the past and have recently gone back into it. I also note that you've basically never had an optimistic view of this stock and that is your choice.

OEX is currently trading at record lows and IMO is due for a bounce. OEX is well cashed up after receiving the support of Patersons and 2 UK underwriters.
The main game now is the Cambay Project with huge potential upside.
Also, according to PPP's recent presentation the Two high potential prospects Tutuala ~70* MMbbls and Bazartete ~65* MMbbls have been matured in the retained northern portion of the Timor Sea Project area. The JV has elected to drill Bazartete as the next (third) commitment well. Drilling is planned for December 2012, subject to rig availability and approvals. This permit holds risked potential which Strachan Corporate values at $9 million for Oilex’s 10% interest (Feb 2012 report) where discovery would be worth up to $150 million to the company. Hardly a dead duck!
I'm not a director but I wouldn't be surprised if OEX reduces its stake to 5% in order to be free carried on the next well.
In my previous post, I also commented on the potential of its WA interests.
Given OEX's market cap and its various interests, I feel that its currently undervalued and has been well and truly oversold by the market. I'm also heartened by the fact that the usual posters predicting doom and gloom and little else it might well be the case that they're trying to push the price even lower, good luck to them..lol, I'll be buying even more!) are back again gives me confidence that a bounce may just be round the corner.
DYOR