This is a good growth oil company - its Block 56 in Oman have significant oil bearing structures. it said that the possible presence of a thicker sedimentary section in the eastern area implied a more extensive distribution of the Ara Salt unit into Block 56 and raised the possibility of salt related structures similar to those producing to the west in the main salt basin.

34p now...as I've said earlier. It will go to 20p range.

Not being an oil expert....so this is a guess....I would have thought that a 60m gross oil pay zone is a lot....perhaps this well may exceed expectations by a lot !. Looks undervalued this share !.

The well being in Oman.

A glimmer of blue in a sea of red. More positive news to come?

Ridiculous drops everywhere....!, what can one say ?, nothing makes sense....! even the oil drop is way overdone now !.

Yes! Below 20p now as I predicted in August above.

Excellent updates by this little known oil company.....but with oil dropping : the market is failing to mark the sp up !.

13.5p now...falling constantly.

Devlin this is the thread to follow no need to start another one for OEX !.

Big losses for Oilex


Oilex incurred a consolidated loss after income tax of
$32,633,462 for the half-year (31 December 2007: loss of $6,721,880). The
significant decrease is mainly due to; a write down of capitalised exploration
and evaluation expenditure following a revaluation of asset carrying values at
the balance sheet date ($17,103,297), increased exploration expensed
($8,010,254) principally from major seismic programmes in Australia,
Timor-Leste and Indonesia, and a net loss on sale of the investment in BOW
Energy Limited shares ($4,317,320).

I remembered this one which was once compared to Cairn Energy. Its Cambay oil field, Bandut and Sabarmati in Gujarat province all come to nothing much.

talk of big upgrades in India reserves i've bought more.

.

65% gain :-))

They chase it to 21p on the news and now it's 10p bid again, bet the advfn
pump and dump mob were laughing at that one.

Guess it's time to watch more closely for a entry point.

Too easy this, buy when nobody else wants them sub 11p and now look at the
herd chase it when it's up a double digit % :-))

2 May 2011
La Rocca-1 well spuds on WA-388-P, Offshore Western Australia

Oilex Ltd advises that the "Ocean Patriot" rig has arrived at the La Rocca-1 well location and the well was spudded at 3:20 hours
(WST) on 30 April 2011.

Report date: 1 May 2011

Status: Commenced picking up drill pipe

Operations: * Spudded well

* Drilled 660mm / 914mm hole from 422 metres to 468
metres.

* Ran & set 762mm (30") casing

Water depth 401 metres

Objectives Intra Mungaroo channel zone

Planned total depth Approximately 5,100 metre(TD):

Days to TD: 41 days on a trouble free basis

23 May 2011
La Rocca-1 Well, WA-388-P Offshore Western Australia Report NO 4

Oilex Ltd has been advised by the Operator that as at 0600 hours on 22 May 2011, the La Rocca-1 well has drilled to a depth of 3,579 metres and is drilling ahead. It is anticipated that the objectives could be intersected within the next few days.

Report date: 22 May 2011

Status: * Drilling ahead below 3.579

Past Week's Operations: * Drilled 311 mm (12 ") hole to 3,478 metres and
ran 244 mm (9 ⅝") casing

* Cemented and tested casing

* Drilled 216 mm (8 ") hole from 3,478 metres to
3,579.0 metres

Oilex Ltd
La Rocca-1 Well WA388P Western Australia Update

25 May 2011

La Rocca-1 Well, WA-388-P Offshore Western Australia - Update
Oilex Ltd ("Oilex" ASX: OEX, AIM: OEX) has been advised by the Operator that
the La Rocca-1 exploration well has reached total depth of 4,864 metres after
drilling through the Intra Mungaroo Formation channel sandstone primary
objective. There are no indications of gas in the LWD and mud log data and
final wireline logs will now be run.

StockMarketWire.com
Oilex Ltd advises that the Cambay-76H horizontal well was spudded at 00:00 hours (WST) on 8th June 2011.

The Cambay-76H "proof of concept" well will evaluate the production potential of the Y Zone interval of the extensive Eocene "tight" reservoirs in the onshore Cambay Production Sharing Contract ("PSC") in Gujarat State, India.

It is estimated that the well, which includes a 610 metre lateral section, will take approximately 35 days to drill and complete. An 8 stage fracture stimulation program of the Eocene "tight" reservoir Y Zone will then be conducted.

After well clean-up, it is anticipated that a long term production test will be performed to determine flow rates, quality of hydrocarbons and commercial viability.