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I think now with 100% CAMBAY...
Third parties to provide finance for Acquisition cost and working capital
I see that coming in at a premium also. MMs robbing some here
Gareth. Not a question of seeing it as a negative. A perfectly valid question. The 5 million is assets not cash and Oilex have said they are negotiating finance for the purchase and other costs.
Gareth
'how some see ir' .... or just purport to see it.
Each to their own and my interest remains solely in my own investment choices.
:o)
Very strange... only 3 minutes after I posted below "The Gujarat State Petroleum Corp (GSPC) approved the sale of its 55% interest in the contract to Oilex for $2.2m, with approval gained also from the Indian government.
The deal will hand Oilex 100% control of the Cambay contract. The 55% interest in Cambay would add about $5m of gross assets to the Oilex balance sheet"
Some posters start asking "where we are getting money from"... 2.2 million out from OEX and 5 million added to our balance sheet, I see this as a very positive move, how some see this as a negative is beyond me.
An extract from Align research ! on 1st April 2019
We also posit that, should there be incremental cash paid to GSPC as part of a settlement for the full 55% of the field being returned to Oilex, a raising at a significant premium to the current stock price or coincident farm in would be the likely route taken.
I believe 99% interpret is as OEX pay out.
Scary or someone messing about. 2 posts on receiving 2.2 million and 10 recommendations between them
In the RNS:
_____
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'). The Transaction has also received the approval of the state government of Gujarat. Following completion of the Transaction, Oilex will hold a 100% participating interest in the Cambay PSC.
_____
The sale of the interest to Oilex for the 'purchase price'.
Small amount next to the 100% interest of the £ Billions of Gas and Oil potential in the Cambay that OEX gains.
55% is costing Oilex 2.2 million.
So did i, in fact i thought it was a sweetener/ backhander sort of deal? Am i wrong
Sorry, what 2.2 million. I think we are paying that out.
Can expect a significant jump when 2.2 million lands in our accounts anytime soon
not only will oilex receve 2.2 million from gspc but it will benefit from a massive tax advantage