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.

Oil & Gas Sector: Oilex up after successful operation to retrieve equipment at Cambay well


Shares in Oilex (LON:OEX) jumped after it revealed a successful operation to retrieve the stuck milling assembly and coiled tubing at the Cambay-76H horizontal well onshore Gujarat, India.

Oilex said the well was currently being prepared for resumption of milling of the seven remaining fracture stimulation stages and when this operation was completed, production tubing would be run and the well would be flowed to surface for clean-up and production testing.

waiting for the right time to buy

Placing was underwritten and was around 100% dilution at 2p so I'm seeing 1180m and a cap of around £16m, about £15m of that being cash

IMO both OEX and Zeta should grow up and settle their differences amicably and in compliance with Gov of India, without all the Aussie courtroom drama.

With India fast becoming a huge O&G consumer over the next few decades, both OEX & Zeta stand to benefit substantially from their partnership. OR is there more to this than meets the eye; are strategic and tactical moves being played out in pursuit of 'A Cunning Plan'.

Something does not smell right in this sudden turn of events.

IMO
DYOR
HAb