As we have previously indicated, the Cambay Field has a current best estimate resource of 48 million barrels of oil in place and 356 billion cubic feet (bcf) of gas in place (including 52bcf of gas already produced) from two known reservoirs, the Oligocene (OS-II) and the Eocene (EP-IV). With a combined programme that will see the drilling of 17 wells within five separate project areas during 2008, most on advanced projects in India and Oman, Oilex will remain firmly held within the Fat Prophets European Mining & Resources portfolio.
OEX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held