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Ratification hopefully by 2070 then :)
Agree totally! At least the commitment is an increase for gas in a world that thinks that alternatives will save the earth quickly. Wind or something else that Oilex isn't into. If the wind doesn't blow or the skies are cloudy the greenies won't want to go without power and it has to come from somewhere!
Cheers
Yeah. Feels like a bleedin' century. Lol.
Head and shoulder pattern has formed in the natural gas chart!
https://www.tradingview.com/chart/?symbol=CURRENCYCOM%3ANATURALGAS
Hi all,
don't know if this has been posted already but gas is looking up in India's quest to raise it to15% of its energy mix by 2070
https://economictimes.indiatimes.com/industry/energy/oil-gas/india-invites-bids-to-set-up-gas-sales-network/articleshow/88760301.cms
Yes Oilex's shares are worth around £180 k at the current price. At one point they were worth 3 times as much but their ability to sell was restricted.
HI all,
Armour Energy up 15% in OZ today on news and good volume. Oilex owns shares and is preparing to sell.
More money for the company if price holds.
GLA
I wonder if that 10m was a buy or a sell ?
Gla
Just found a couple of reports where it says production can restart following environmental clearance, so I guess I've answered my own question. Gla.
Presumably that was what the court order referred to in the rns of 15th December was about? Personally, I wasn't aware that there was a court order prohibiting restart of production. Couldn't find any reference to it being imposed on any previous rns. I mean, the wells were shut in sone years ago, not because of any legal requirements, but due to the flow rates dwindling to a very low level. Gla.
Same to you Steven. Can't remember ever logging on to this site. Maybe that's because I look at it most days. Atb.
Thanks for the clarification Jasper. Makes one wonder why we are all so concerned about the wait for GOI approval. The market obviously thinks it matters. Any news on why approval didn't happen " on or around the 15th December" as indicated to you by to you by the management.
Not sure what you mean by permit approval. Is that a reference to the environmental clearance? Atb.
A belated happy new year all.
Let’s hope we get somewhere….
I couldn’t log on but looks like there was a fault.
Thanks Jasper, makes sense on that basis.
They can both restart production and refrac now they have permit approval. The GOI approval is not conditional upon this. The GOI approval merely means ratification of the sale agreement with the GSPC for the additional acreage. Any revenue generated prior to GOI ratification for the 55% GSPC element will just go into an escrow account and be paid up OEX upon ratification being confirmed. I am expecting production commencement announcement very soon.
I don’t know the implications of restarting before approval from gov, at least we have the permission to do so which we didn’t before
Yep I’d be for restarting
Would you want it to restart whilst still legally in a jv?
At least production can restart
Maybe the work overs for increased production
Well I emailed them yesterday surprise surprise didn't get back to me whatsoever
Perfectly understandable that they can't proceed with fraccing etc until GOI approval comes though but with this inordinate delay we as share holders are surely entitled to a detailed explanation of exactly where the process is at.
huge late trades today.
Fair point. I do fear it's just the way goi operate and lord knows when this will be approved.
not as frustrating as not knowing.