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Hi Conger. Lloyds not exactly a short term pick for me. First invested in 2004 at 414p. Been one thing after another. The financial crisis, followed by the ppi scandal, followed by Brexit, followed by the pandemic. Years without dividends, then restored, then cancelled again, now restored at at a low level. Might even get my money back before I'm past caring. Lol. Atb.
I think your right Conger on the 5 bagger theres a lot of money looking for a home in energy lately.
All the banking and insurance stocks coming back to life seems value investing is a thing !
Gla
I have the Rolex I want picked out. :)
Sitting on 35m shares myself, I had divest 6.5m due to personal reasons.
This is an unbelievable opportunity, it going clear 5 bagger on here on news...
Gordon Lloyds come back strong last few days , but NatWest has been the shorter term pick.
We’re a bunch of gents here Harry, welcome you shall be
Well abstrade, we know of one poster who has 40 million. Nowhere near that myself. Atb.
What is substantial? I have 2.4 mill and feel like that is very substantial!!
I hope so Harry, especially after the last investment!
potted history
That's the whole point MC. The Indian courts couldn't decide who was at fault and said go to arb and sort it out amongst yourselves. Rather than do that Oilex and gspc decided to negotiate between themselves. That was in late 2018. We were told agreement was expected in early 2019. Actually took until September 2019 when we were told that gspc had agreed to sell their share of Cambay and all legal actions on both sides had been dropped. They had already tried to sell it once in 2016. We were told that Oilex had not waived their right to the cash calls and would continue to engage with all parties, including any new jv partners for there recovery. Very unclear from that who was now liable.
Gspc were required by the agreement to use their best endeavours to complete the sale in 90 days, which should have been by the end of 2019.
In January 2020 we were told a preferred bidder had been identified by gspc and in March that we were waiting for due diligence and government approval. Then came the pandemic.
The next we heard was on 15th February 2021, that Oilex were bidding for the 55% which presumably meant the preferred bidder had pulled out.
So, after all that we still don't know what had been, or will be agreed, with regard to the cash calls. We may get nothing, we may get it all, or something in between.
Apologies, if I repeating what most already know. Just thought a pitted history might be useful to some that don't. Atb. Gla.
How is it we are looking at bringing in 3rd party funding, when we are still owed over $5m?
Gspc should just give us cambay for peanuts and wipe out their debt.