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Excellent buying opportunity here today.
Massive Upside from this current low price.
still really good volume
TWB
I don't think it's a question that anyone here can answer but, given this in the RNS:
_____
Update Regarding Cambay Settlement
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. ***
______
That's an endorsement in itself and JS sounded very bullish when he stated in the interview:
_____
"back in control of our destiny, so that's a really major outcome"
_____
Jr
For a moment there, I thought you had murderous intent !
:o)
Funding
It’s the shadow of finding killing it at the moment, as soon as it’s sorted one way or another it’s game on .
Joe, said he expected further news on the transaction and funding in q2. Let's take him at his word.
10.04 first steps - 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).
Second probably funding arrangements any JV announcements maybe capital raise which is not a bad thing when it is for such positive circumstances.
Short term movements all irrelevant if you can see the bigger picture for long term gains imho.
What sort of news are you expecting?
Unfortunately it's heading down to .20 levels very quickly if no news soon
Peeps just cannot buy and hold for a while. Reflective of our throw away impatient society. Believe it or not sometimes it takes longer than a week to make serious money. I should know, been in 88e for 7 yrs :)
News due in Q2. Not long, but patience as always is the name of the game. Everything is overbought and oversold.
You can sell at 0.286 don't be fooled by the MMs tactics or sell up and move on if this isn't for you...
Some Excellent posts over the weekend.
Just 2 words....
MASSIVE UPSIDE
I'm just keeping my focus on the interview a week ago, which is the most recent communication from the company, also the Oil / Condensate ratio of 55% and also having the opportunity to achieve LNG import prices for the Gas.
_____
Joe Salomon interview this week.
Salient points:
______
"The potential here is large"
"Any Gas that you can get into the main trunk line in India, effectively gets the price of LNG imported Gas"
"We know the Gas is in the ground"
"We've done a significant amount of work in looking at how to effectively stimulate the wells to increase the Gas flow rates from the low flow rates of the past, to commercial flow rates of the future"
"it's not a complex process"
"to increase the Gas flow rates to very, very, commercial rates"
"the Company is back to a clean and clear state"
"back in control of our destiny, so that's a really major outcome"
______
Note, LNG import prices to India hit a high of around $18 per Mmbtu in January, which would value the 900 Bcf of contingent resources, stated by JS, by getting the LNG import prices, at around £ 11 Billion !
Additionally, there's the 55% mix of Oil / Comdensate to add into the mix too.
:o)
Pacman
1 - 1.5p within Q2 would be welcome indeed and very much on the cards.
We hit 0.51 just few days ago. So 1.5p might end up being conservative soon as deal is done.
Nice simplistic summary pac. I must agree, my thinking and beliefs are pretty well aligned with yours. If it tips over 1p, I’ll be well pleased, and i might treat myself to a glass of bubbly. Not sure I’ll sell any of my 73m shares still tho;) tbd good weekend all
Rolling
Excellent recap of the Salient points.
Potential here from current very low MCap is just mind boggling
The target that align set a couple do years was correct was based on about 2. 7 billion shares. We now have about 4.7 billion so the target SP is about 1.5p. This is for the scenario they envisaged with us getting 100% of cambay and farming out 30% to a JV partner.
If we can get to 1.5p with the funding sorted, Indian government sign off and GSPC transaction done and dusted I'll be very happy. Skys the limit after that if we have a plan and dates for drilling.
I am expecting 1-1.5p within this quarter.
So get a move on Joe.
Steve
I think, and this is from memory, so apologies if not 100% to the precise calculation and I won't search for it now as I'm sure my better half is convinced I'm sending personal emails to other women when I post, oh the joys of lockdown, but, an Align Research note had this down as a target price of around 2.5p on a 70% interest basis, so with 100% interest, that would elevate their target to around 3.5p, or roughly ten times where it is now.
So, yes, surprising currently, but one hot day does not make it a summer. Often takes a while for the potential to be understood or to sink in.
Anyway, based on the glares, it's time to sign off.
:o)
I’m surprised the SP wasn’t sustained higher than current tbh. I most of the facts are based on what will be and no what is now but even so.......
Anyway I’ll be patient and ride through it
On that basis alone, where any Gas they can get into the main trunk line would attract LNG import prices, nine times higher than the natural gas prices to India, combined with the 55% mix of Oil / Condensate, for me, is not adequately reflected, by a country mile, in the current Market Cap of £15 Million.
Not to be forgotten, this is not a 'wildcat' drilling expedition.
They already know the Gas (and Oil) is there and they know they can produce at very, very, commercial rates. No surprise, given the LNG import price relationship.
:o)
Joe Salomon interview this week.
Salient points:
______
"The potential here is large"
"Any Gas that you can get into the main trunk line in India, effectively gets the price of LNG imported Gas"
"We know the Gas is in the ground"
"We've done a significant amount of work in looking at how to effectively stimulate the wells to increase the Gas flpw rates from the low flow rates of the past, to commercial flow rates of the future"
"it's not a complex process"
"to increase the Gas flow rates to very, very, commercial rates"
"the Company is back to a clean and clear state"
"back in control of our destiny, so that's a really major outcome"
______
Note, LNG import prices to India hit a high of around $18 per Mmbtu in January, which would value the 900 Bcf of contingent resources, stated by JS, by getting the LNG import prices, at around £ 11 Billion !
Additionally, there's the 55% mix of Oil / Comdensate to add into the mix too.
:o)
Hi MI. Must admit when you said it would go back to 0.4 I didn't really believe it. After all, In his interview Joe didn't really say anything we didn't know from the rns. Turned out to be enough. As you say, no point in getting involved again unless it goes lower.
Looking forward to a nice pub meal on Tuesday in the garden of my local. Atb.