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Hey Gordon, welcome back. How are you getting on setting up your twitter account? :)
No cash? Well maybe not so afloat then. Grab a bucket and start bailing!
Yuri. How is the sale going to keep us afloat? There is no cash involved, just shares which can only be traded in limited circumstances. Whatever that means. Atb.
The cooper sale will keep us afloat for a while, it’s just we literally have no cash to drill. Which in turn proves Irish will be a Farm out or another sale due to lack of funds. Another concern I have is once brads position has been filled, that Joe will step down and move across to Doriemus as a supporting role for Brad. (He’d be mad not to).
1p is an mcap of what, £35million ish, imo its doable once things start happening. Thats my issue at the moment, nothing happening, just waiting and burning through cash.
I’m still very bitter over losing cooper. We would of got more cash from selling Cambay. That would of provided enough cash to get us going with drilling. Brad and Joe would swap positions as Brad knows cooper better than Joe. We would be out of India and to be drilling on your own turf would of been much easier to manage.
When I used to scream about 1p club, it was easily achievable but I feel Oilex is kind of lost at the minute with its direction. The deal is literally blind date lol. We can only hope it’s a partner we will get on with.
I’m not trying to deramp. At current price, buyers can easily bag 50% profit from a successful deal. It’s just that rainbow seems a lot further away at the minute.
But what happens if they strike gas and start getting revenue through that?
IMO the reason the share price is low is that there are too many unknowns, new partner? programme? cash burn without income at the moment? how will it be funded? Once these are solved the sp will be in a better place, imo.
Of course there is a risk that it goes tits up, but I think a lot if us are here as risk takers (and some longer term holders). If I wanted a safer bet I’d go and invest in something like the BA parent company for example.
It is a fact that the majority of holders are waiting to sell after the cambay deal. The price is going to be just as crap after the mass sell off as it is now.
Then watch this board complain of how poor the price is again...
Let’s say we do see the .3s again maybe .4s if lucky. By the time everyone’s moved on it will rest in mid 20s resulting in tears. IMHO.
Yuri, same something useful, if you have an opinion back it with facts.
Tears of Joy I hope....
It’s all going to end in tears
I don't see GSPC and Oilex on the same page.
They are not making joint statements.
Also, does the fact GSPC owes the JV money, " have an adverse effect upon the consummation of the transactions contemplated by this Agreement."
I think the Tender documents has errors in it, for instance the 4,00,000r number in there twice is it meant to be 400,000r or 4,000,000r ?
I don't see any mentions of the complete 90 days best endeavors either, GSPC is not taking this seriously IMHO. But i don't see plenty of opportunity to delay the transaction completion.
It is a really armature document IMHO, when you read the small print and clauses, aggressively written in GSPC favor.
I see Dor is on a trading halt. Hopefully Cooper progressing nicely.
That's interesting conger. How can that square with the following, I the December quarterly report. "The Company continues to engage with all parties, including potential new Cambay joint venture partners, for payment of the outstanding cash calls."
Hmmm.
I can not find anything about outstanding cash calls or liabilities, prior to the tender acceptance date.
7.2 Farmee’s Representations and Warranties
Except as otherwise disclosed in the attached schedules or information furnished in data
room or during due diligence process, whether verbally or in writing, Farmee makes the
following representations and warranties to Farmor as of the Effective Date;
A. Claims and Litigation.
There are no material claims, demands, actions, suits, governmental inquiries, or
proceedings pending, or to Farmee’s knowledge, threatened, against Farmee which
would have an adverse effect upon the consummation of the transactions contemplated
by this Agreement.
Why is now over a month since the preferred bidder for Cambay was RNSed and still no announcement of who and how much.
To me this is getting really concerning.