The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen 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.
Hi Yuri. All of this must make you feel particularly sad. I remember when you had a phone chat with Joe. You said what a decent honest bloke he seemed. It's hard to believe he's not well off enough to not take a salary at all.
Wasted an hour this morning trying to register to get priority delivery slots via Gov. UK. Turns out just being over 70 isn't enough. You have to have certain medical conditions, which is fair enough. I will take my chances in the first hour set aside for the old gits brigade. Atb.
Reduced his days in work but no mention of a pay cut? Maybe I’m being petty and sorry if I am but I have a trust issue at the moment.
If you work less but don’t cut your pay you are actually having a pay rise? The RNS is yet again too vague. It should say what their monthly pay was and is now with the reduced hours.
What is Peter up to?
Trust me, if I was running the show, I’d be a lot more open to investors than this.
This isn’t poker where you hide your cards from everyone else.
If Joe’s only doing half a week, that should be a 100k a year saving for the company, but no word of this?
Aaron even you can't feel confident now? Atb.
Qs. Unfortunately, at the cuttent share price there is no way a raising could give them anywhere near enough to develop Cooper. Joe has cut his hours drastically, wonder what other savings have been made? I suppose if costs could be reduced to virtually zero (probably impossible) and mothball everything there is a chance Oilex might come out the other side. If I was a betting man, which I am, probably 50 to 1 now.
Of course there are far more important things going on at the moment. At least the last twitches of Oilex are a distraction. Atb.
It's not all over, this is what lots of companies have to do during this very disruptive climate we are in..
Once we get though this , imo I think lots of companies will flourish,, GSPC will continue to deal with selling it's 55% .. look back at the economic crash in 2006/7 and look at he recovery after.. thus could be he reset that we need... IMO..
SEE YOU ON THE OTHERSIDE ... :-)..
"Still, the board are still taking a full wage packet while this all goes on which is the important thing right?"
Funny you should say that Yuri. Rns out in Oz. Joe has reduced his hours to 2.5 per day to save costs. Looks like game over? It was always going to be very difficult Oilex to pull this off. Looks next to impossible now. Atb.
Yeah very rocky situation at the moment.
I see a lot of talk about $10 a barrel..I doubt it will drop that low. Seems like the US has sent someone over to Saudi to start negotiating. Not in Saudis interest to lose US as an ally?
Re Cambay - long term seems like a valuable asset, oil prices won’t be this low in 12-18 months. But Sounds like there was a lack of other bidders even when oil was decent price?
Pretty depressing here now, markets recovered a bit last couple of days, but this continues downward. After having renewed hope into the new year, I am now thinking this is possibly last chance saloon. I mean who in their right mind now would not either pull out of the Cambay deal, or at the very least renegotiate on reduced terms given the current oil price and forecasts of $ 10 a barrel in the near future.
“India imports 82% of its oil needs and aims to bring that down to 67% by 2022 by replacing it with local exploration, renewable energy and indigenous ethanol fuel.”
https://en.m.wikipedia.org/wiki/Oil_and_gas_industry_in_India
If we survive this and the GSPC sale goes through, expect the SP to start motoring in a few years time.
For now, it’s all about that sale going through and we can start the restore faith in Oilex’s future. (Hopefully the solicitors are working from home still?)
At the minute it’s like watching someone walk the tightrope, blind folded and in high winds.
Aaron believes this is a good horse, though the horse is deaf and the jokey is blind.
Still, the board are still taking a full wage packet while this all goes on which is the important thing right?
Difficult one really - only you can decide.
It is definitely a risky share at the moment with the general stock market falls and the possibility of the GSPC sale collapsing - doesn’t seem to be much faith in the sp at the moment.
But who knows in 2 months time, people may be returning to work, the worst of covid19 is over, and the sale of GSPC’s share of cambay may have, or is close to going through.
Just bought this a couple of weeks ago at .12 amid the oil price crash.
Worth holding ?