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.

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.

Interesting one...any idea what the market cap is anyone ?

77.78M
cyril

RF this company qualifies for an ISA.
cyril

Thanks for the info !

I doubt if Barclays will allow this one in an Isa...This does not report in Pounds Sterling like JLP does...that as well as being dual listed is one of their conditions for an Isa...I bought in this morning...I must hope for more good news now !

Afternoon RF, aye you are right with regards Barclays, don't know why though, I would have thought that it was HM Gov. that decided such things. Anyway it seems to be 'OK' for other ISA providers. I have this one in an ISA with 'IWeb' the HBOS version, no problem.

Ain't it funny how we can't get consistency on even these simple things. :-)

Onwards and upwards from here I hope.

Final results can be found on their Web site.
cyril

Nice article!

Click HERE

Afternoon all. Good, positive article indeed Andy.

I see the results are showing a larger loss than last year. It never ceases to amaze me how sometimes shares 'tank' on great results and 'fly' on increased losses. Wonder if that will happen here. I suppose it all becomes academic if the field development plans unfold as they are intended.

OEX has a good spread of 'remedial', 'development' and 'exploration' assets in my view.

The one thing this company does well...is that it keeps you up to date !

Proactiveinvestors have written an article re OEX, CLICK here

Maybe this will get OEX on the radar screens.

:-)

Back at 46p...weakness prevails.

Aye, and with oil on the decline, this will need further positive reports to move it up. Still holding.

Best company for updates....(merits some Aim award for that), still in and hoping it will come right in the end.

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