East Timor off shore drilling was never part of the funds that were raised.
Oilex have only 25% of the liability in East Timor.
Oilex will look to farm out East Timor. Oilex are in good shape to do this and I feel they have had plenty of interest with the siesmic expected to be very promising.
All in all we are going along very well and all will fall into place over the next few months I feel.
OEX Price at posting:
32.5¢ Sentiment: ST Buy Disclosure: Held
