News: Oilex sees “significantly improved performance” in Cambay 77-H well, page-61

IMO the options still have time to play out if 77H results are good there should be a good bounce from these levels. I may regret this but when someone threw them away last week at 0.6 cents panic selling I saw it as a great opportunity to top up. Even if the price only doubles from these levels the risk is relatively marginal IMO.

I will be surprised if new investors would fund 78H if proof of concept of 77H is a failure so yeah option holders will be burnt. However if there is CR I am sure there will be another pump and hopefully not a big dump before September 2015. As for the unknowns I am expecting the delays will be costly but hopefully should have been offset mostly by sale of oil/gas sales.

Going forward I am thinking possibly investors may have to revise price expectations downwards due to the oil price collapsing and general negative sentiment towards OEX have handled 77H. Can you imagine if 78H took as long as 77H, option holders may never see their money back.