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12/01/05
12:01
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Towie,
They got 100% water on the DST on a stepout.
Twice.
That isnt a duster - thats worse.
A duster merely means you didnt get the oil you were hoping for on a wildcat.
A failed stepout means you have less oil reserves than you expected to have, and that means less reserves to support your share price.
So far, two of the Rookwood stepouts have found no oil.
I'm an Oilex bear, and have been since it went higher than 40 cents, so feel free to discount it.
But I'd really really like to see a statement from Oilex of what they think the reserves at Rookwood now are.
Ian Whitchurch