I am not so sure either. I have a bit riding on OEX.
I think the prospects are good for the JPDA, but disappointing that they missed out on Lore. It doesnt matter if you loose your first hand of poker, providing you can still have a go for the next round.
I think success in Lolotoe will be followed up with another well. I would even hazard a guess that it is possible that they shoot for another well even if Lolotoe is another duster; strikeing while the iron is hot!!!
Geophysics is 49% science and 51% luck.
The odds have been stacked against Oilex for such a long time. I think the fact they manage to continue to drill and operate is a clear indication of the belief the market has in Oilex one day striking it.
They will not fade into nothing as they do have Indonesia and India. They also have a considerable gas prospect brewing in NW Aussie and the possibility of them drilling this could generate some considerable interest. The only question is, will it be done on the back of a success (60cps) or a failure(10cps). That is the question!!!
Top up your drinks and start shuffling the deck. This next hand is going to be a doozy and I think being drunk will be the best state to be in when the news comes, good or bad!
Good luck!
SF PS: Drink responsibly :)
OEX Price at posting:
15.6¢ Sentiment: Hold Disclosure: Held
