We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
You need to forget the cash for a minute. We can finally start drilling.
He’s just said Q3/Q4. So what if we get diluted again, the end game is still good profit for us. Need to stop being so nitty gritty.
Would you prefer it that we continued with Arb or move on and drill?
I’d rather be drilling to be honest and deal with the owed money at a later date.
We are going through a divorce, time to get a haircut and clean shaven because we are about to get married to a new partner.
Forget the money I say (FOR NOW, the war is not over) it’s time to move on and produce some gas and oil!
Quite agree Mike. All of those who think this deal is so great should look at the posts from early this year when all the hype was we are going to get Cambay or a load of cash. Imagine the uproar if Oilex had suddenly said then that they were going to walk away in exchange for gspc flogging their share to someone. This only seemed good (at first) compared to the expectation that we could be waiting well into next year for a resolution.
No need to hope mike you’d be surprised how much is going on in the back ground. The 90 days is for the paper work to be sorted out. There’s more than one company that wants cambay, it’s probaby already in motion.
So it has taken all this time for GSPC to decide or agree to sell its 55% share. Surely Oilex should be looking to recover the 3 million owed for non payment of GSPC’s contractual obligation regarding their proportion of costs once they sell their share. So from the initial euphoria yesterday, we now have to hope someone buys the 55%, then we will have to find our share of costs including the 3 million we won’t now be receiving. Then after all that we are looking at this time next year before we even start drilling! Somehow it doesn’t quite feel like a victory.
Just for you Yuri, " I don't believe it !". Sounds like it could be this time next year before drilling starts. I may lose the will to live by then. That's if they don't push it back even further. Oh well, as you say, at least we know.
GSPC will have cash in its hands after the sale so why can’t they then hand over some money? I’m sure Oilex has enough powerful lawyers to figure a way round this.
But at the same time, maybe it was the only way out and to break the stale mate. To drop the money in exchange to sell and move on?
It sounds pretty bad however....
Joe said, upgrading storage facilities and doing larger drills... If we get to that stage, that owed money will be pennies compared to what we will be pulling in, instead of wasting money and making no progress.
Once GSPC are out of cambay, then maybe oilex can pursue a compensation claim. Even just 1mil would be helpful.
Oilex has had to amputate it’s arm to break free but it will grow back in time ;-)
Regarding the podcast , when gspc sell cambay asset will we get cut in the money?? I don’t really understand , other than we get new partners how that benefits us (are we letting go of the 3 milllion debt in exchange of a new partnership?)
Cambay seems like a monster , any idea how much it might be sold for?
Ok so I got it wrong with the drill dates by a quarter. But at least you now know. Especially you Gordon! (Lol) on what our timeline is going to be.
I know yuri... should have suggested the Twitter search in the first place lol. Anyway, the Joe Salomon podcast sounds good. Pretty much all obstacles cleared.
https://mobile.twitter.com/VoxPodcast/status/1171821973493751808
Latest podcast.
See give it time and this share is going places!
Hahaha lol
Twitter search for oex and arrange in time order lol