asx lists over two thousand companies

The ASX lists the share prices of 2,224 companies - how many analysts really take a good look a the smaller ASX companies and how often?
With this many companies to watch, it is enevitable that many smaller companies, like Oilex, get very little or no attention at all.

I suspect whenever one analyst does some minor 'skin deep' research on a small company like Oilex, all the other analysts just accept this 'skin deep' research, and use it themselves, and they do not do consider in depth research worth the time and trouble for such a small company.

If this were not the case, then the Oilex trading volume would much higher, and the share price would be much higher also.