big orders, page-13

...something to read whilst awaiting for the process to complete...curtesy of proactiveinvester, UK...

Oilex poised to stimulate key Cambay-76H well in India
8:53 am by Kam Patel
Oilex has high hopes for its oil and gas assets onshore Gujarat, India Oilex (LON:OEX) continues to move closer to tapping into the potential of its promising assets in India, announcing that preparation for production enhancing fracture stimulation of its key Cambay- 76H well in Gujarat state remains on track.

Updating on progress with Cambay-76H, Oilex notes that all equipment needed for large volume multi-stage fracture stimulation of the well is now on site and rigged up.

In preparing for the start of the fracture stimulation program, a test of all surface equipment has been conducted, mixing of chemicals and loading of proppant (material that helps fractures from closing) and water to tanks is underway, and coiled tubing operations are being completed.

The fracture stimulation program will comprise eight stages. The well will then be flowed to surface to remove stimulation fluids and clean up the well bore prior to conducting flow tests.

The Cambay-76H "proof of concept" horizontal well will help evaluate the production potential of the extensive Eocene "tight" reservoirs covered by the company?s onshore production sharing contract (PSC) onshore Gujarat.

The reservoirs extending across the 161 km2 Cambay PSC area are being developed by Oilex via a joint venture with Oilex NL Holdings India and Gujarat State Petroleum Corporation.

Oilex, as operators, holds a 30% working interest in the venture; Oilex NL Holdings (India) Limited has a 15% stake; with Gujarat State Petroleum Corporation Ltd holding 55%.

Oilex has high hopes for the Cambay basin, with its material interests standing at 40%-45% in three ?brownfield? redevelopment projects there: the Cambay, Bhandut and Sabarmati fields. These fields are currently all producing small to moderate volumes of oil.

The company believes the potential for improving the production rate from the existing wells and the scope for full scale redevelopment of the fields are ?encouraging? given that the reservoir distribution is poorly understood.

Oilex rates its exploration and development work in the Cambay contract area as potentially ?low risk and high reward?, with the demand for gas and oil in the main heavy industrial corridor of India remaining substantially in excess of domestic supply.

UK invester still loading up currently sitting over 39 cps.with some decent buy of 250k chunks, they have bigger b-lls...
Not long to go now .