Oilex Charge!
The blogosphere will recall this Blogs musings on Oilex some time back with a rec’ to watchlist this stock and research it if it went near 10p. Suffice it to say that it never really got to it. I think the closest it came was 11.5p. The reasons being that there is just too much hope and expectation being built up re’ this company. It wasn’t so long ago that OILEX were being compared to CAIRN energy with their huge potentially company making Indian development core asset, the Cambay Low Permeability Eocene reservoirs in Gujarat. A truly Mammoth gas play that will certainly transform OILEX to a major producer in this region. Current estimates vary from 248 billion cubic feet (BCF) of gas and 11 million barrels (MMbbls) of condensate (P90 – assumes at least a 90% probability). 384Bcf of gas and 17MMbbls of condensate (P50) and 591Bcf of gas and 27MMbbls of condensate (P10).
The Apache farm in to the offshore Western Australia Permit WA-388-P is yet another smart piece of business conducted by a professional and ruthless management which frees up yet more finance for OILEX.
There are different price targets ranging from a lowly 38.5p right through the card here dependent on who you speak to up to in excess of 100p.
Currently there is strong support and belief in the city that OILEX over the next several months are on a charge that should surpass 50p. Completely under-valued as of now. A 40p price target would seem to me to be a fair price as of today! Given the absolutely massive reserves in place in India! 40p is being seen by some as the base point for a charge over the next few months!
Watchlist them and research!
Good Luck
Daniel
BMD
Just wondering if some comments could be made on these two.
There seems to alot going on here at the moment and value to be had seeing ALO have just secured 5 new Gold and Uranium Licenses – with some exploratory work carried out already.
Damien Conboy is worth keeping on eye with fingers in a alot of resource pies – also in the successful spot light recently through Strait Oil.
Any thoughts would be appreciated