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Probably just pocket money to him. Still about 4 times my final salary. Can't believe the salary is his motivation, so he must think he can do something worthwhile with Oilex. Atb.
He must be confident he can turn things around with only a £150,000 salary. It’s more like a public sector salary than a private one.
And of course he wouldn't be joining if he didn't see an improvement in Oilex over the next few months/years.
I’m the same Conger re reaping some rewards sooner rather than later for my personal financial situation but if something does materialise out of Roland joining then it may be just worth the wait …
My initial negative post, saw this just as delay to the JV, i have personal complex reasons why I need healthily jump in share price in thew next two months.
Having read about the guy in more detail, my only concern is the lack of India experience. On paper he seems like an ideal candidate, but any new boss I felt has pushed back the JV deal that should be all but signed by now. I suspect now with Joe stepping back, any JV deal is not progressed at all, as who would if a new CEO is coming in, then there is the further ratification 2 month delay!
Someone earlier asked were I think this is going, my focus is on the JV partner coming in, potentially causing a big short term boost. With out knowing the JV deal it is impossible to know the spare price but i would hope if and when announced it will take us over .50 and could take us near 1p on over run depending on the market perception of the quality of the deal.
Indonesia has also gone very quiet and i would expected more progress on that by now, as they said thus would have it back in production quickly, but it looks like it is stuck in bureaucracy with no work on site to reopen the producing wells.
The UK stuff is long term, it might amazing in 2-3 years time, but it just not my focus right now, i want to see the quick gains fixed so Cash flow is sorted. And Indonesia was sited as the quickest site to get back up and running about 18 months ago by Joe to me.
Also still no message on the $5m outstanding cash calls with GSPC owed to the Cambay JV and ultimately Oilex.
Hi Steven. Never thought I'd say this, but I'm tempted to but a few more. Atb.
Morning Gordon I quite like your optimistic post from 22:30 last night! Let’s hope this is the beginning of something more positive for Oilex.
Sold at a loss but made a tidy profit? How does that work?
Just to add - don't think "potential delay" for GOI approval is accurate. Delayed, yes - we just don't know the duration weeks, or months. Hopefully Uncle Roland can produce magic.
Sorry, Ouzo65. I totally understand - in the interest of transparency, I recently reduced my exposure to a 20k ISA in this because of the potential delay in GOI approval - used the Cambay sale rise to do that. Doesn't make me any less determined about this, just got to react to the news and potential delay with realism. So on balance, I believe you have made a good call, I just wouldn't want to be out of it either. Sometimes I don't think about it enough from another person's point of view. Hopefully you get a buy back in price worthy of Mordor and then the Gazillionaire is on the cards haha.
All the best mate.
Bandit
I sold out at a loss today and, as you say, made myself a gazillionaire, not.
However some people can’t just watch their investments fall daily, me however still believe in this company and I will be back.
In the meantime made a tidy profit on the move out so hopefully will be able to buy more shares when I come back
Truly hope this share comes good for you all
Ouz
TWB. Even I, who has been known to be pessimistic (LOL), can't see anything but positive in this. Surely, someone like that, who never needs to work again, wouldn't be doing this if he didn't believe the prospects were good. So whatever it means in terms of the mix of Cambay, uk, Indonesia etc you'd think there would have been a decent rise. Don't get it.
Also don't get why anyone would think it would rocket on GOI approval alone. Not unless they announced jv news or something else major at the same time. After all, we are all assuming it is 99% certain. Gla.
booom coming soon ;0)
We’ll soon start picking up momentum, no doubt! When the approval comes it’s going to rocket!
haha and the above ladies and gentle is the difference between good hearted banter and the other stuff we've had to put up with.
Absolutely no idea why it's at 0.22 after today. Maybe just people can't be arsed waiting a few weeks for GOI approval and so they've hopped into something else which is going to make them a GAZillionaire overnight. Atb.
I’ll end up like Macca soon
Sorry I think I’m just getting delirious!
Let’s hope This is It, but not like Michael Jackson as that didn’t turn out well .
You are more than likely right Conger. In the short term anyway. Really we are getting a bit carried away with speculation. Just can't rule it out, I feel.
Atb.
"Roland aims to bring further growth and innovation to Oilex with an initial emphasis on generating strong cash flows from the Company's Cambay gas field and expanding Oilex's UK interests."
This is does not look like someone looking to sell Cambay?
TWB. Lol. I am sure there's something in his attic. Not sure it's cash though. Atb.
Take that point on board Gordon, but buying to sell on - to me that seems a very painful and long drawn out process when there is a lot more potential in exploiting the resource in partnership. If you want fun buying and selling bits and bobs just go on Macca's favourite TV programme - cash in the attic.
Mind you, judging by the current delays, whatever they decide to do, thd bureaucracy is likely to take forever and a day.
TWB. Buying to sell on, is exactly what they did with the Australian assets. A bit different though, with Cambay, given the years and effort put in to secure it.
Also, Joe did try to jump ship before when they originally tried to sell the oz assets to Doriemus. He is moving to a non exec role at Oilex. Atb.
I strongly expect this development will move things along a lot quicker than expected. I am guessing that shortly after the rns for GOI approval we will find out thd direction Oilex is taking. Whole range of possibilities from keeping a majority interest in Cambay, maybe just keeping a smaller interest but still being the operator, or divesting the lot. Probably other possibilities we haven't thought of.
Conger, can see why you and Callum might be miffed as your focus as always been on Cambay Development. Personally I find it quite a fun turn of events,but then I don't have as much at stake as you guys.
Surprised, you know who hadn't been on claiming he knew this was going to happen. Gla.