The UK AIM market closed today with Oilex showing the second highest number of trades in the last 12 months and an increase of 18% in value on the day. That clearly shows that the report released today has been well received.
With resolution of the Indonesian issues still to come along with a successful farm-out in Timor on the cards we have cause to increase our expectations for the future giving cause for encouragement.
Yes, we have a long way to go but Oilex is now leaner following G&A cost reduction measures. Also I seem to think that Mr R Paces, (a former Cairn General Manager in India) is now no longer at Oilex. His departure will in itself bring about some significant payroll reduction as well as the others who have departed.
Such encouragement lessens the need to emphasise the English victory in the second test match. Really, I have to admit that you guys down there should be level at 1-1. Still, time turn it round - just as with Oilex going forward too.
All the best Jimmy
OEX Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
