miti,thats what I was expecting as the value driver in OEX....

miti,
thats what I was expecting as the value driver in OEX. Reserve report will underpin company value ahead of the drill. More of an application of process then. I think we are on the drive to the reserves report. Then its a substantial wait for results following drilling and workover.

Interestingly, the targetting of the channel sands offshore WA is pretty prospective as well and we could see substantial value added from that in an instant. The good thing is, this is not the main play for them. It is just cream on top. The downside is protected by the prospect of having >>200BCF in recoverable gas from a high-margin-high-demand market. Boom!

This is a long way from a greenfields development with substantial drilling having already taken place with multiple well logs and core samples to carry out analysis on. Accordingly, I thought the tight gas reserve estimate report was pretty robust and would deliver. I tipped it to a few people after the cap raising pull back, however I am not sure whether they took it up.

Takeover talk is a bit overdone I think, however, it might add more weight if Cairne is just next door doing the same thing, or that they have already done it in the region.

I personally dont have a lot of faith in information security from Oilex as they have offices spread throughout the world, multiple partners and a strong India-Aussie-Brit connection.

Cheers and welcome to HC...and not potty mouth iii :)

SF