After several false dawns, credibility is now beginning to return to this Indian energy play focused on multi-TCF gas resources Dual listed Oilex joined AIM in 2006, focused on developing a strong position in the highly prospective producing basins in India. Expansion elsewhere since then has failed and nine wells drilled in India over the last 10 years have disappointed. Plus, JV partner problems and a looming licence expiry have made investors cautious. However, in 2016 new management took control and are dealing with the issues. We initiate coverage of Oilex with a target price of 1.60p and Conviction Buy stance.
16 Nov 2017
Oilex Ltd - Initiation of Coverage
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Oilex Ltd - Initiation of Coverage
Synergia Energy Ltd (SYN:LON) | 0.1 0 0.0%
- Published:
16 Nov 2017 -
Author:
Dr. Michael Green -
Pages:
26
After several false dawns, credibility is now beginning to return to this Indian energy play focused on multi-TCF gas resources Dual listed Oilex joined AIM in 2006, focused on developing a strong position in the highly prospective producing basins in India. Expansion elsewhere since then has failed and nine wells drilled in India over the last 10 years have disappointed. Plus, JV partner problems and a looming licence expiry have made investors cautious. However, in 2016 new management took control and are dealing with the issues. We initiate coverage of Oilex with a target price of 1.60p and Conviction Buy stance.