The main reason for the recent sp weakness has been anticipation of a capital raising. The only way Oilex could get in to trouble from here is by running out of money. Therefore if it is a raising, it will be dilutionary from the point of view of a $4 valuation but not from a view of a 30 cents share price for a company with the assets it has. There's buckley's chance of it being an mbo and I'd think they'd be more likely sellers of their BOW stake to help raise funds rather than be buying more. We'll know by Monday no doubt.
OEX Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held
