Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on OILEX LTD. We currently have 5 research reports from 1 professional analysts.
|04Jan17 07:00||RNS||Cancellation of Unlisted Options|
|19Dec16 07:00||RNS||Appendix 3B - Issue of Retention Rights|
|19Dec16 07:00||RNS||Appendix 3Y J Salomon|
|13Dec16 08:23||RNS||Oilex tenders for 55% interest in Cambay PSC|
|06Dec16 07:00||RNS||Expiry of Unlisted Options|
|24Nov16 07:00||RNS||Appendix 3Y J Salomon|
|24Nov16 07:00||RNS||Appendix 3B|
Frequency of research reports
Research reports on
Cambay development jeopardised by funding and partner disputes
12 Nov 15
We downgrade our recommendation on Oilex to Neutral and reduce our TP from 8.3p to 1p following news of a legal challenge presented to Oilex by its main shareholder, Zeta Resources, alleging that Oilex failed to disclose material information prior to its initial investment. Additionally, Oilex’s JV partner in India, GSPC, has notified Oilex that it wishes to alter the approved 2015/16 work programme. There is now material uncertainty regarding the outlook for the development of the company’s core asset in India.
Quarterly report shows impact of fund raise
30 Oct 15
We retain our Buy rating and 8.3p target price following the Oilex quarterly report to end September 2015. The company had almost A$16m cash, with A$9.4m further to be received in November. Oilex appears to be on track to deliver c.300boepd production by the end of December, which will generate more than sufficient cash flows to cover operating costs and G&A. The Cambay-78H and 80H wells are the potentially transformational catalysts, which have the potential to drive production toward 1,300-1,400boepd.
Oil & Gas - A turning point for the E&P sector
28 Oct 15
We suggest that, following 4½ years of underperformance, the E&P sector is set for a sharp recovery relative to the market. We think that this will be driven by a dramatic reversal in E&P margins, as a recovery in oil prices coincides with reductions in upstream costs, similar to what happened in 2003/04 (following the consolidation of the majors) and 2009/10 (post the financial crisis). We focus our stock recommendations on our corporate clients – Andes Energia, Nighthawk Energy and Oilex - but acknowledge that the entire sector should participate in the recovery.
Indian site visit
18 Sep 15
We reiterate our Buy rating and increase our target price for Oilex to 8.3p following our recent site visit to India. We were impressed with the quality of operations and the calibre, professionalism and experience of the senior management team based in India. The next 12 months is set to be a busy period for Oilex, with two firm horizontal, multi-frac wells and five workover wells scheduled. We expect the company to grow production to roughly 1,400boepd net over the course of the next 12-15 months.
Fund raise approved
12 Aug 15
Via the successful Cambay-77H well, Oilex has proven its ability to flow gas at commercial rates from the tight gas zones in the Cambay basin, in a region where gas demand significantly exceeds supply. It is partnered with the owner of the regional gas transmission and distribution network and is now fully funded for its approved 2015/16 work programme. We reiterate our Buy rating and increase our target price from 7.5p to 7.8p.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
GMP FirstEnergy ― UK Energy morning research package
06 Dec 16
Transglobe Energy (TGL CN); BUY, C$5.25: Homeward bound… back to Canada | Great Eastern Energy Corporation (GEEC LN) (not covered): Reserves update in India | BP (BP LN) (not covered): Acquiring interest in Tangguh in Indonesia | Exillon Energy (EXI LN) (not covered): Production update in Russia | Genel Energy (GENL LN); SPECULATIVE BUY, £2.60: Receipt of payment for Taq Taq export in Kurdistan | ExxonMobil (XOM US) (not covered): Relinquishing blocks in Kurdistan
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
16 Jan 17
We take a look at the rankings of the various countries in Africa that have a significant exposure to mining. We take the Transparency International corruption rankings as our starting point and modify these for exceptional geology and for current UK government travel warnings. Ghana, Botswana and Namibia come out as our top three, with Eritrea, Kenya and Zimbabwe at the bottom of our rankings.
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.