oilex ipo last week

  1. 389 Posts.
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    Well it's crunch time. They're still short around $'s and 40 , I'm told. I'm aware that a couple of brokers are now giving this a hard push, so that will help.

    As I've said before, the fact that they chose not to underwrite, then that killing ASIC stop order, has brought about this situation. Remember that if it was underwritten, we wouldn't have been able to participate in the IPO & we'd all be scrambling for shares on listing. It's been a pain taking so long, but at least we have a shot, if we can get the IPO up.

    Main thing is the delay has absolutely no bearing on the probability of oil in Giligulul or the other wells. I'm still very confident & just Giligulgul is worth 55c to OEX on a 20c IPO; it's had oil column previously. Modern techniques almost make it a sure thing to prove economical oil. being close to infrastructure, they could be producing oil just before or after christmas. not bad for an october IPO & the way Oil price is looking, plenty of extra leverage in this one.
    Then Barcoo Junction North is a 1:4 shot at an elephant worth >>$10/share.

    So, time to dig deep & stump up for another lot or lots, if you can. If it doesn't get up, we will receive our refund cheques within 1 week, so you're not tying up any more funds for long.

    Every one counts, so if you can do it conveniently, please apply in a different name. Joint names are counted as different, even if you have individual ones as well.
    E.g. A & B have $2,000 each, but you can also have A+B with a 3rd lot.
    Names are not really the issue, they'll get the 40 OK, it's the $'s.

    I'm sending 5 new ones in this week.

    Only a week to go. So you'll need to get those applications away by express mail in the next day or two. Application forms are in the supplementary prospectus on the website;
    www.oilex.com.au
    I've just downloaded more application forms for my extra ones, so website is fine.

    Let's see if we can help get Oilex over the line. It's still the best Spec IPO I've seen in years & best of all we get to be in on the IPO.

    Anyone who doesn't have the original 3 page report and subsequent posts, e-mail me at [email protected] & I'll send them to you.

    cheers,

    ned
 
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