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.

Jumped ship this morning onto brr hope this can bring some profit.

http://www.zawya.com/Story.cfm/sidZAWYA20071113041418/SecCountries/pagOman
Alasthe thread does not give up the info.
A contract has been signed with Abraj Energy Services to drill at least 3 wells in block 56 during the next 12 months, with a option of a further 2 6 monthly extentions.
Wells 1500/3000mtrs deep.
cyril

Also drilling news out.
http://www.asx.com.au/asxpdf/20071119/pdf/315wtnpcgjz0d8.pdf
cyril

Afternoon Cyril, looks like the Indonesian well test flowrate results are creeping up with each zone tested.

Further Oman news later in the month or December as well maybe.

Still 'in'.

Beware...the sp is drifting downwards. I would sell now at 70p and buy later.

hlyeo98 don,t you think it worth holding for news of DST-5 later this week? It'll
be the market conditions which could drag this down if anything does.
cyril

http://www.investegate.co.uk/Article.aspx?id=20080102070000P482E
Some news at last.
cyril

http://www.telegraph.co.uk/money/main.jhtml;jsessionid=CF24VIKYTCZTLQFIQMFCFFOAVCBQVIV0?xml=/money/2008/01/06/cxquest106.xml
Can't get this to work? a good write up in todays telegraph.
Recommend BUY at 72.5p
cyril

http://www.investegate.co.uk/Article.aspx?id=20080108070000P5601
So a week on Friday should reach T/Depth?
cyril

http://www.investegate.co.uk/Article.aspx?id=20080115070000P60A8
About 3 days to T/Depth at this rate?
cyril

Positive indications on the latest RNS. Let's see what the next one brings.

http://moneyam.uk-wire.com/cgi-bin/articles/20080115070000P60A8.html

http://www.investegate.co.uk/Article.aspx?id=20080122070000PD5A3
Total depth reached and logging, was hoping for a result to bring some a welcome cheer at this moment in time.
cyril

http://www.investegate.co.uk/Article.aspx?id=20080125070000P1ABF
Although still to prove up, this news seems to give out positive signals and makes
for a good punt, OEX has been tipped a lot for 2008.
cyril

Market likes the news, up 13.4%.
cyril

Serveral brokers are upbeat about OEX, a typical analysis.
http://www.oilex.com.au/download.cfm?DownloadFile=C8051C2C-E7F2-2F96-37FBE6760C837A4F
cyril

Oops, double post, apologies.

Morning Cyril, a positive note from Hartleys indeed. I have read through it and the Share Price Valuation is also very encouraging. There seems to be very little priced in for Oman or other exploration potential, only A$0.2 per share from a valuation of A$2.78.

I still hold in an ISA.

News posted on the web site.
http://www.oilex.com.au
cyril

Up 6% on ASX due to news $1.45au = 67p
http://www.asx.com.au/asxpdf/20080225/pdf/317mppy7gftlnd.pdf
cyril

Morning Cyril, yes and good start to the week in the UK as well, up 8% or so.

This is a zone of thick oil I believe and there are other zones still to test.

I have noticed in the past that Oilex seem to underplay their news releases, so the word 'pleased' in it is more than encouraging (for me anyway).

Let's see what the other zone test results bring.