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It India Macca, and time has a different concept a best endeavours undertaking to complete sale in 90 days can have a longer than 90 day tender submission period! lol
yup I support that Conger
Gla
Fair point. Atb.
might not*
I just think the JV announcement could be ready to go Gordon as soon as they have GOI sign off.
As I know Oilex was in communication with pretty much ever bidder for the 55%, and they have have said they interested parties in conversations and RNSs for years.
So my view is you might get much buy opportunity between GOI sign off and JV announcement.
:)
jv details
Thanks for your thoughts Conger. I myself was thinking that if everything went well, the asset could turn out to be worth around 100 million. Dollars or pounds, take your pick, we are talking ballpark here. Lol. I have no reason to doubt it when you say that the expected price was 25 million, which values the asset at 45 million. Anyone paying that would presumably be hoping to make a few multiples of that ultimately. Of course whoever it was would be aware it could conceivably go the other way and be worth naff all. That's the gamble and may be the reason why the price Oilex get will be lower. Impossible to know, until we see the details of the jv.
If it all goes well, it could give a Oilex the breathing space to develop the other assets, and then who knows where the sp could get to. That would be years down the line and probably a bit long for me.
Going to wait and see. Doubt if the next news of GOI approval and finalisation of the sale will will move the sp much. The rns with the jv detailer will be the next biggie, followed by drilling results, maybe late this year or early next. Atb. Gla.
and too put money where my mouth is i bought another 5m at 26.4
I would pick some up now while they are around, you are not going to far wrong at the current prices Gordon., you might make a extra 10% if you buy on dip, but your looking at doubling you money at this level already on the rise, but having none you could just miss the boat, as they are not always easy to buy or sell in quantity.
No Worries buddy. :)
We are a £13m UKP market Cap, at the moment, a £50m market cap + is reasonable in short order with JV buy in i have outlined, with the new Franking method proven commercially .... £100m ++++ very hard to call.
Gordon its not going stick under the floor .238 unless something goes wrong big time and lot of drivers to push it up in short order, I am about 35m at .275p I think that is very safe to make a good return this year on a sell opportunity if i keep an eye on things, if you buy now there will be time in the next 12 months to get out with good profit or ride to the drilling outcome, if you want to gamble more. I am quiet relaxed my shares are free as from profits now so a free ride, and Joe and the his time have proved their resilience while under extreme pressure to quite from a much more powerful, massively bigger, connected business.
Hi Conger. Nice to see a return to sanity and some more realistic numbers being quoted. Still been twitching over the but button. Atb.
The biggest potential driving for a much higher share price for me is the JV announcement, but like the Cambay deal itself the actual value and structure is unknown which makes it extremely difficult to call on the effect it might have.
I am hoping for a $20m USD for around 45%, which will be more than enough to get Cambay proven or not with the new fracking methods. A year or so ago $25m that was the expected out come of the 55% sale valuation, but Oilex does anything but expected. lol
was tounge in cheek and still in here ,hoping for slight increase so i can make a small amount (better interest in bank so far!)
but i live in hope not so long a wait this time
welcome back gordon and hi wolfofmiddlesex thought you had disappeared
@toptuf - no worries mate. This next bit is a cliché of course but Peter Lynch always said one of his biggest gripes in Wall Street was that people would invest based purely on what others would say. He said - sure take other advice / opinions into account but invest based on your own decisions, instincts and research. It's something I strongly agree with and you can't put the finger then if it goes wrong. But again, with this I'll gladly reiterate my opinion again that I believe it's awoken now the dispute is settled and we are on to something good in Cambay. Indonesia looking promising too. ATB.
Qs. You sound like a judge on the x factor. "I'm afraid it's not good news. It's great news, you're going through!".Lol.
For anybody doubtful of GOI approval don't be. Gujarat is so important to the Government and economy of India and given the State backing has already been made public the rest is a formality. The below is very clear on the importance of Gujarat to Modi's Government.
https://www.gatewayhouse.in/importance-gujarat/
TWB: Sorry if I sounded a tad stroppy, not acceptable on my part, but you just happened to have been in the crosshairs at the wrong time. You've explained very well in your latest post. I don't mind predictions but analysis to go with them always helps. I don't know enough about the situation to get involved which is why I only dipped my toe in for 5k's worth at ISA time. Clearly for all our sakes I hope you are right with what you say.
Fair comments regarding timescales slipping, but treat the delays within their own context. Delays involving a legal dispute are always likely to be more troublesome and outcomes inevitably get extended. However, now with that dispute reportedly behind us, barring Covid recovery and the effect that could have on administrating approvals etc, we should expect a much clearer path. I'm hopeful of positive announcements soon.
ATB.
Oh God,
Jeremy's back.
Jasper. I think you'll find Beadle's comments were tongue in cheek based on previous experience as an lth. For example, after the court case in November 2018, we were told that discussions with gspc were ongoing with agreement expected in early 2019. That took until Sept 2019. I could go on, but I'm sure you get the idea. I don't think anyone is expecting that sort of delay now, but especially with the Covid situation in India, it eouldgnt be the biggest surprise if the timescale slipped. Atb.
' The completion and transfer of GSPC's PI to Oilex is also subject to the approval of the Government of India (GoI). The GoI has been kept appropriately informed at all stages of discussions with the aim of securing approvals for the PI transfer in a favourable time frame.'
imj.beadle.... so are you suggesting that Oilex have mis-informed the market in their recent news releases regarding timing of the next Cambay updates, namely finalisation of the sale and purchase agreement and GOI approval of transaction. I am sure if you look they use the words - "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." RNS dated 1st April 2021.
I have also been in touch with the company directly and they confirm that they are still working towards these time frames. I think your statement is some what misleading imo.
one think to bare in mind is that with oilex a 24 month wait period is to be expected on every piece of news