By Jack Pusey
Date: Tuesday 21 Jul 2015
LONDON (ShareCast) - (ShareCast News) - Oilex's Cambay-73 well continues to meet the daily demands of its customers in Gujarat State, India, the company told investors in a production update.
The well has been 100% operational and yields an average of 54 barrels of oil per day since production began in June.
Furthermore, the well's condensate-to-gas ratio topped forecasts by 26% at 58 barrels per million cubic feet.
Oilex attributes local success to high levels of gas demand, which have paved the way for premium prices. Demand has risen by 38% to 320,000 cubic feet per day in the last two months.
"Oilex remains focused and today's news demonstrates that it continues to deliver on its plan of production, near-term cash flow and reserves growth to create a sustainable business in the midst of a robust and supportive domestic market," said chief executive Ron Miller.
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Currency | UK Pounds |
Share Price | 0.11p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 0.18 |
52 Week Low | 0.073 |
Volume | 13,871,437 |
Shares Issued | 10,638m |
Market Cap | £11.44m |
Value |
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Price Trend |
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Income |
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Growth |
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No dividends found |
Time | Volume / Share Price |
16:02 | 9,090 @ 0.11p |
15:33 | 71,309 @ 0.11p |
15:10 | 2,769,230 @ 0.11p |
14:54 | 1,996,302 @ 0.11p |
14:42 | 4,625,347 @ 0.11p |
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