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"Carbon capture has always concerned me in a negative approach. Okay carbon can be pumped back into old depleted fields. My concern is based more on natural disaster, could an earth quake distort those depleted fields and cause cracks resulting in carbon leaks beyond the control of mankind what about the movement of the earth’s tetanic plates."
I disagree ENI are making it work off Liverpool Bay and Oilex have stated they are looking around UK waters including North sea for suitable site.
Yes I was on the sauce ,enjoying some home brew beer from the Pinter my wife bought me. Well spotted . But you know me I say it as I see it. Anyway no offence people should do what they think is best. I'm strongly behind Oilex now other opinions may differ and I respect that. Be interesting to see what Roland says in interview . Anyway all the best what ever decisions people make all the best to them.
To be honest Callum it did read a bit like you had been on the sauce. Lol. You are right sometimes you have to laugh or else you'll cry. Anyway a bit of good news today. At least something is happening. Atb.
Sorry Gordon I wasn't Havnt a go at anyone personally its just like you I've been here a long time and you have to laugh or it all gets to stressfull. Genuinely hope we all hit the magic 1p mark at some stage and though there will be spikes and drops in sure we will. Gla
Heck i nearly sold around .26 but to buy in again later, but thought GOI must be so close now... really ****ed at Oilex they have no got any idea when GOI is going to happen so either they not saying something or they are not talking to right people.
I believe timelines aren’t what we hoped for, however to be fair this is still a long-play. Funding side strictly all they did was to explain where all the 4m + cash are earmarked, not really anything we didn’t know if we had sat down and done the math. Agree free cash is low but yes let’s see what comes our way. I’m good to wait but yes frustrating with delay after delay - atb
Yes, I also originally got into Oilex as a pint, on a tip from a friend. Can't believe its nearly 7 years. They gave up on the EIS because they hadn't been able to do much work on it and they couldn't get the licence extended. Atb.
Gordon CAMBAY has always been the main focus here for the company - I was probably down due to this being so long winded, that i'm sure you can relate too as you've been here much longer than myself.
I originally came to OEX as a punt and a quick one at that, instead I got trapped as the SP reclined due to arbitration. I made some good top-ups at our lower SP in 2019 (buying chunks of 1m at a time for between £675 & £725, those were the days...LOL)
I was keen on EIS - thought there could have been great value there, disappointed they've let it go. They must have had good reason to relinguish their position.
Hi QS. Just a couple of comments. I remember you being very keen on the EIS. Indeed, at one point you said Cambay didn't float your boat anymore. GOI approval expected in the coming months. Great to be reassured? Hardly, when it is now 7 months since we were told they were expecting it "In a favorable time frame". It is a ridiculous delay for something we are told is a rubber stamp. If someone had said on April 1st that it would be even 3 months there would have been widespread scorn. It is obviously not a priority for the GOI. You'd still think it might have worked it's way to the top of the pile by now. 77h. Those initial flow rates were promising but over time they declined to about a tenth of that due to the fracks closing up. All our hopes are pinned on the new techniques solving that and giving those multiple flow rates. The trial on 77h will really be the crunch time. Not sure what you mean about the report answering questions about funding, other than strongly indicating that we need more pretty soon I'm afraid you are way off the mark with your comments about the cash calls. It seems I was right to be sceptical, although admittedly not in the way, I originally meant. We are certainly not, slowly getting them banked. That 543k is all we are getting, and the final settlement, out of the 4.5 million or so in the original dispute. That was 4 or 5 wasted years under Joe, with each of those years losing an amount equivalent to the total amount. Wonder where we would be now if they had been simply written off in 2017 or 2018. Not sure we get too many earthquakes in the UK that are big enough to be a concern. Overall, although yesterday's report was very disappointing in terms of time scale and funding implications it doesn't mean it can't all still come good. Just going to be a bit harder than we thought. Still not impossible that GOI approval could drop at any moment and we move forwards quicker than expected. Atb. Gla.
Just read to quarterly report. Has answered a few of your questions regarding funding.
GOI approval expected in the coming months (great to be reassured) – However I wouldn’t be surprized if this is Jan 22 (IMHO) Bit disappointed that the company have given up on the EIS, was expecting great things within!
West Kampar – I know we have ongoing issues with this field but still I’m not so clued up on this as was way before my time and CAMBAY was always the main jewel in the crown.
CAMBAY-77H had initial production levels of up to 1.0 Million standard cubic feet per day – (to a humble investor like myself that sounds like a hell of a lot of gas – 3 to 5 times more via a more effect frac program sounds immense)
Oilex received a payment of US$543k towards outstanding cash calls from its Joint Venture partner Gordon, do you remember our conversation/s regarding unpaid cash calls? I remember your scepticism. We are slowly getting them banked.
Carbon capture has always concerned me in a negative approach. Okay carbon can be pumped back into old depleted fields. My concern is based more on natural disaster, could an earth quake distort those depleted fields and cause cracks resulting in carbon leaks beyond the control of mankind what about the movement of the earth’s tetanic plates.
What I’d like to see the company looking at is salt caverns for gas storage which can without disturbance be with a click of the fingers turned into hydrogen storage facilities. Hydrogen is the future for a greener planet. (IMHO)
Hi QS. I don't bank with Barclays, just use them for shares. It was originally Charles Shwartz, but they sold to Barclays years ago. Used to be better until they "improved", their platform a few years ago. What baffled me was, it said you could do a trailing order but their was no way of selecting it online. I actually bank with Lloyd' in which I have quite a lot of shares. Hoping for good results today. Atb.
Only joking, Gordon. I'd try Barclay help desk for share dealing as most if not all online facilities have this as a function, for example HL you can place the auto-trade for: 1, 7,30, 45, 60, 90 or custom amount of days.
I am curious now if there is a capping on profit gain, as someone pointed out their broker has in place (can't understand that as it would still be a personal preference to sell regardless of percentage gains - BUT you never know)
HL are expensive but I do like their trading platform and the fees lower depending on volume of trades per month.