Australian (ASX) Stock Market Forum

SYN - Synergia Energy

Jump to new
S

still_in_school

Joined
24 June 2004
Posts
302
Reactions
1
Hi Guys,

did you watch and see OEX today, huge gain followed, by a market halt... could llok possibly good for VPE... looks like they hit a whale.

Cheers,
sis
 
Re: OEX - did you watch that stock today

Big act to start this week with Nulla Nulla -1 show[ATP549 West] . OEX 's Rockwell South -1 is our look alike scene ! 14c share price give exceptional entry / leverage . ~~23mmbbloe play in primary zone . ~~5mmbbloe in secondary zone. Large 42% well share.

In addition , along trend with Nulla Nulla-1 , ==>ATP539 EPE [50%] to do 72klms 2D seismic plus 1 well within 12 months . ~~est 15 mmbbloe lead .
 
Fat Prophets Mining has chosen OEX (Oilex) as their first new buy of the year.

The rave is an unusually strong one, with no negatives that I could see.

I note that OEX closed over its 7-month overhead trendline for the first time Monday.

Fat Prophets also points out that it’s successively broken above three shorter-term overhead trendlines in that period (and stayed above them).

OEX made an announcement yesterday afternoon re Indian government approvals of their Bhandut, Sabarmati and Cambay fields. The announcement included a host of other matters relating to other OEX projects around the world, including seismic surveys, drilling, and planned drilling programs.


Here’s a bit of what Fat Prophets said:

“The panicked reaction of some investors to the recent shakeout in the world oil markets mean they could miss what we consider to be one of the sector’s biggest buying opportunities [OEX]…

“Irrespective of the billions of barrrels that no doubt remain to be found, these untapped reserves will be more expensive to find and produce. We therefore must all become accustomed to a high oil price environment…

“US oil stocks are trading at their lowest level relative to earnings since 1982, while in Europe oil stocks are at their cheapest level in 4 years. We believe there is a mountain of investment money about to go bargain hunting…

“We believe the fallout of the last few weeks presents an ideal opportunity to present a high quality emerging oil play to our members. That company is the international oil explorer Oilex.

“The company has assembled a diversified international portfolio of exploration and production interests in India, offshore Australia, East Timor and Oman. Oilex has assembled most of this acreage in the last 18 months…

“While we expect oil to take time to establish a base, the longer-term outlook remains overwhelmingly positive in our view. In time, we expect that the price of oil will push above the December high of $US64.15 to trigger a return toward $US78.40 and beyond.

“With such a diverse portfolio of international exploration interests and significant activity planned on all of them, 2007 will be an exciting time for Oilex.

“We believe now is a great time for membes to get exposure to Oilex.”
 
OEX - Why isn't OEX higher?

It should have been a terrific week's finish for the company's share price:


1. Two positive announcements out, Tuesday and Wednesday.

2. Then Fat Prophets Mining report (Thursday) picked it as its first new BUY recommendation for 2007: the report was detailed and glowing.

3. Oil rose strongly and is at $57.50+ as I write (Friday evening).


All this against the background of an exploration program that is both aggressive and diverse.

Maybe the market was taking a short breather after the rises at the start of the week, and the week before...

Anyone care to speculate?
 
Re: OEX - Why isn't OEX higher?

Robroy said:
It should have been a terrific week's finish for the company's share price:


1. Two positive announcements out, Tuesday and Wednesday.

2. Then Fat Prophets Mining report (Thursday) picked it as its first new BUY recommendation for 2007: the report was detailed and glowing.

3. Oil rose strongly and is at $57.50+ as I write (Friday evening).


All this against the background of an exploration program that is both aggressive and diverse.

Maybe the market was taking a short breather after the rises at the start of the week, and the week before...

Anyone care to speculate?
Click to expand...

7% in one week, seems ok to me. Formed a pennant after breaking through some recent highs, what more could you ask for?

Cheers,
 
The pennant formation OEX has just broken out of (one of the most reliable formations in TA) says it will go to 1.93. (Assuming a textbook performance.)

1.93 is also the alltime high, right above the market now.

So you would have to say that 1.93 is looking pretty strong as a short-term target right now.

Pennants aside, the chart Monday night looks strong, with the close at the day's high - on high volume.

And oil is still high, relative to recent times - nudging $60 as I write.

The rest of the week is promising to be very good for OEX.
 
Re: OEX - en route to 1.93

OEX hit 1.80 this morning, which accords with the idea that it's heading to 1.93 this week.

(That's the target predicted by its breakout yesterday from its pennant formation; plus 1.93 is the alltime high.)

I notice there's a selling panic on right now (lunchtime Tuesday). Sellers had piled in above the market overnight, excited by the sudden price rises. There were too many of them, and when the price blipped down and filled our nice little overnight gap, several of them - thinking they were about to lose their long-awaited profit - panicked and dropped their prices.

That of course forced the price down further. We're now at 1.65. I imagine the spasm might end about there, and that - given that nothing fundamental or technical has changed - OEX will proceed on its merry way to the 1.90s.
 
Re: OEX - Oilex

Sadly 1.80 was the highest it ever reached before it started to plummet down again Rob. But it had a good run though.

I brought in 2 months ago at 1.33. I dont know whether this stock has many good future prospects but I do like the predictability of the share price movement and when you compare it alongside the other oil companies such as Oil Search and Roc Oil which has either a consolidating graph or a down trending graph, its probably a better oil company then the rest.

I might get out of this stock if it starts to flutter at 1.50 and is met with heaps of resistance.

CHEN
 
Re: OEX - Oilex

Any one following this one?

Have noticed nice price-volume increase over last couple of days!

Look to have a great diversity of assets and looks like there will be a lot of news out over next couple of months particularly cambay & oman!

Any thoughts?
 
Re: OEX - Oilex

Ormond, I bought at 1.50, great uptrend should be re-rated sooner than later.

Hartleys issued a price target short term of 5 dollars based on success at Oman.
 
Re: OEX - Oilex

OEX looks interesting, looking at OEX chart the SP did'nt go below last low of 1.40, volume has risen also supporting SP (hav'nt got todays data yet) so will look tomorrow, will also do some fund research. porkpie
 
Re: OEX - Oilex

Hi guys.Not much to say except ill be re entering soon,traded it successfully before and think its an excellent prospect.When it drills GOG offshore well plus all the other works,to me it has quality stamped all over it.My view only. Just need to escape the clutches of a couple of duds and im in!cheers.
 
Re: OEX - Oilex

henry vanderhave said:
Hi guys.Not much to say except ill be re entering soon,traded it successfully before and think its an excellent prospect.When it drills GOG offshore well plus all the other works,to me it has quality stamped all over it.My view only. Just need to escape the clutches of a couple of duds and im in!cheers.
Click to expand...

Henry, if it breaks 1.60 which it is sitting on the next previous high of 1.74 will be reached in my opinion, so do not leave it too late.
 
Re: OEX - Oilex

lioness said:
Henry, if it breaks 1.60 which it is sitting on the next previous high of 1.74 will be reached in my opinion, so do not leave it too late.
Click to expand...
Lioness, always remember to include some level of analysis when placing price targets. While 1.74 might be next resistance, that doesn't mean it's going to get there. Reminding us of the Hartley's valuation might be a start, but it would be better if you incuded the why part in the Hartley's target as well. Can you tell us that? Cheers.
 
Re: OEX - Oilex

kennas said:
Lioness, always remember to include some level of analysis when placing price targets. While 1.74 might be next resistance, that doesn't mean it's going to get there. Reminding us of the Hartley's valuation might be a start, but it would be better if you incuded the why part in the Hartley's target as well. Can you tell us that? Cheers.
Click to expand...


Sure Kennas, see below for a detailed explanation as to why:

Oilex Ltd (“Oilex”, “OEX”, “Company”) and its Indian Alliance partners
have reported production testing of Cambay-72 with productive oil zones
identified in both the shallower Oligocene and the deeper Eocene
horizons. Secondary testing will occur after sand screens have been
installed over the Oligocene horizon.

Phase 2 will commence with a three well programme in May with a
combination of re-entry, sidetrack and new wells aimed at assessing field
recoveries as well as determining the optimum method for developing the
field.

A recent upgrade to the Cambay field in-place resource estimate has
increased the best estimate to 48mmb oil, 356BCF gas and 14mmb
condensate. Our analysis suggests confirmation of Oilex’s best estimate
for the field could be worth more than $3.70 per share (at NPV $25/bbl oil
and $4/mcf gas).

In addition, we believe the Oman acreage is highly prospective and has
the potential to yield significant discoveries. Drilling activities in Oman
are anticipated to commence in July 2007. Given the quality of the
assets acquired by Oilex and the strong management team to drive
exploration and production, we rate Oilex Ltd as a Speculative Buy.

PS Kennas, you are very good with charts, what is your estimate from here??
 
Re: OEX - Oilex

I cannot believe no-one is interested in this oil and gas stock, it is one of the best on the market.

Oh well, I am in big time here (have the house literally on it!!)
 
Re: OEX - Oilex

MUMBAI (Thomson Financial) - India's Videocon Ind said its 25 pct-owned Block No.56 on the eastern flank of the Central Salt Producing Oil Field in Oman has potential reserves in excess of 4 bln barrels.

Block No.56 was allotted to a consortium comprising Videocon, Oilex Australia, which is also the operator, together with Gas Authority of India Ltd, Hindustan Petroleum Corp Ltd and Bharat Petroleum Corp Ltd in March 2006.

The company is also seeking to reprocess existing data, acquire 1,000 kiolmetres of 2D seismic starting July 2007 and Drill around 3 wells in the third quarter this year, Videocon said in a release to the Bombay Stock Exchange.

Videocon said the consortium has signed a production sharing contract under which it will explore 11 wells in the first phase of drilling and 15 wells in the second phase.
 
Re: OEX - Oilex

Read todays announcement, should start to rise now dates are locked in, huge potential but at what risk I wonder??
 

Similar threads

ducati916
April DDD
3 4 5
Replies
98
Views
7K
ducati916
ducati916
bigdog
J Capital Research
Replies
1
Views
2K
greggles
greggles
darkhorse70
The Beginner Trader's Manual Guide
Replies
9
Views
20K
commoyo
commoyo
exberliner1
LIT - Livium Ltd
2 3 4
Replies
73
Views
27K
frugal.rock
frugal.rock
R
The Financial Endgame
Replies
18
Views
9K
qldfrog
qldfrog
Top