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Agree absolutely Towzer. After that, we heard multiple times that approval would be " In the coming months". Then in early July Roland said in an interview " the next 3 months or so". Just shows that they never had a clue how long it would take. In all that time , not one rns giving an apology or reason for the delay.
By the way, the Oz Market can move on rumour. On 15th February last year they suspended trading due to a rise, with massive volume. That forced them to announce they were trying to buy the rest of Cambay.
Interesting to see what happens on open today if there is no rns. Atb.
BTW Oilex on the ASX today is at the same price that it was prior to the April 6 2021 news.
I will cease whingeing now.
GLA
This taken from the ASX announcement 6 April 2021. Released pre-open!
"Oilex Ltd (Oilex or the Company) is pleased to announce that GSPC has provided notification that it has approved
the sale of its 55% participating interest (PI) in the Cambay PSC to Oilex for the purchase price of US$2.2 million
(‘Purchase Price’) (the ‘Transaction’). Completion of the Transaction will require the finalisation of a binding sales and purchase agreement, and finalisation of funding arrangements, both of which are expected to occur within Q2 2021. The completion and transfer of GSPC’s PI to Oilex is also subject to the approval of the Government of India (GoI). The GoI has been kept appropriately informed at all stages of discussions with the aim of securing approvals for the PI transfer in a
favourable time frame"
** N.B The wording favourable time frame! Favourable to who?? Obviously not the shareholders! It's 9 months and nearly 3 weeks since that statement.
GLAFS (frustrated shareholders!)
If anyone in the UK is waiting up for Aussie action it may pay to go to bed and get some rest rather than watching the ASX.
IMO. But news could be released at any time as we know. Your call zzzzzzzzzzzzzzzzzzzzzzzzz
Good call Towzer
Waiting as well whether to dive in bigger or not
ALB
Ouz
684,858,766 shares traded in UK on Friday but OZ market opens with barely a whimper. 825,249 shares traded in the first hour.
Just proves that nothing will move the Aussie market except news. Not rumours of pending news!
Waiting......
Aussie market opens soon
Really impressed by the volume last week it as if folks been waiting to pile back in after the placing last months, the placing certainly been burnt off with these volumes, is their news very soon I wonder, it should move into the 20’s soon
I'm hoping it's going to be a good week for Oilex
I'll drink to that Boothy. Gla.
Let’s hope we get some news soon or even just a steady rise till there’s news