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London South East Natural Resources Briefing webcast: #Emmerson #Alba #Condor Gold #Gold analysis
Angus Energy in talks to buy 'transformational' gas asset in North England


Oilex Share Chat (OEX)



Share Price: 0.175Bid: 0.16Ask: 0.19Change: 0.00 (0.00%)No Movement on Oilex
Spread: 0.03Spread as %: 18.75%Open: 0.175High: 0.175Low: 0.175Yesterday’s Close: 0.175


Share Discussion for Oilex




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gordon1237
Posts: 692
Opinion:No Opinion
Price:0.21
RE: gspc
26 Apr '19
Smiley, please correct me if I'm missing something but I can't see how that could work. If the valuation some on here are putting on Cambay of hundreds of millions or even billions are remotely in the right ball park, how could Oilex ever hope to raise sufficient cash to buy out gspc ? Would have thought they would struggle to raise even a couple of million by a placement. I know Oilex has first dibs if gspc do want to sell but you'd assume that would have to be at a reasonable valuation.
Given that gspc has debts of over a billion I don't think it really matters whether they have 1 million or 10 million in the bank. After all, when it came to it they didn't have too much trouble depositing/guaranteeing 4 million with the court.
 
smileywiley
Posts: 570
Opinion:No Opinion
Price:0.21
RE: gspc
26 Apr '19
Even oilex, a way smaller company compared to gspc has more cash balance in their bank acc. Oilex BOD words of "them being financially constrained" remains true. As such, I strongly believe the dominant strategy to sort this whole issue is by paying cold hard cash to gspc in exchange for cambay PI to be transferred to OILEX. Suspecting another equity placing for this purpose, but at a significant premium price compared to what we are at now for 100% of cambay. AND Oilex would finally be able to start unlocking the damn EP-IV reservoir with the 2 vertical drills (hoping it's successful) thereafter a horizontal drill.
smileywiley
Posts: 570
Opinion:No Opinion
Price:0.21
gspc
26 Apr '19
dude. i was reading up on gspc. as of 31st march 2018, they had 6.92 crores = slightly less than 1 million usd in their bank account. Dude. GSPC is legit broke.
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