The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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And despite the profit taking by some, the information from the interview with JS still stands and there's now the further positive about the Bhandut sale.
The ability to get LNG import prices for the Gas, really enhances the metric here. It's not just the 55% Oil Ratio, which in itself, enhances the profit from production.
_____
Joe Salomon interview..
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)
Could be interesting to watch any progress 'Kiri' makes as there are direct similarities to Cambay and infrastructure is alteady in place.
Market can see a plan. Cash coming in, and potential
L2 lighting up
Not selling lol
bid 0.341p to sell on HL
Gone in auction
Thanks Rolling. No problem. Atb.
.34p paid
My error Gordon. Broad enough shoulders to apologise if your post was misunderstood.
Apologies.
Ok Rolling.... I’m not trying to deramp but I’ve been here before so I’m very cautious.
Is there any other news other than that one article to suggest they’ve had government approval yet as I thought that would cause another spike and thought it would be on an RNS?
Thanks yelnirb. I will keep a watching brief. As I said before maybe for a bit of fun for a smaller stake. Any more would be silly at my age.
Rolling. Was this directed at me?
"That's complete hypocrisy for someone previously investing in any oil and gas stock to make a profit."
If so, you misunderstood me. By horrendous cost for the world, I was referring to Covid probably causing the preferred bidder to drop out, enabling Oilex to get it cheap. Atb.
Anyway, nice to see a rise today after the steady fall over the last week. Hope it carries on for you and other holders. Doubt, if I will get involved again,but never say never. Gla.
Gordon are you thinking of buying back in when it gets to .23 ish , the announcement will come July time which i think we both know will be impressive on the sp or a complete re-rate. I feel oilex needs its Gordon back hehe
Let's not suddenly go down the faux 'green' route.
That's complete hypocrisy for someone previously investing in any oil and gas stock to make a profit.
Yes Steven. Its beyond me why people choose to believe something in an ill-informed article rather than what it actually says in the rns's. For example it says this.
"before starting negotiations in 2019 for the remaining 55% stake owned by GSPC. The attraction".
Completely wrong. Gspc, after 10 months of negotiations agreed to sell its share at that time. OILEX declined to bid as it didn't have the cash for the then expected price. A preferred bidder was identified who dropped out due to covid circumstances. This enabled Oilex to step in for the bargain basement price of 2.2 million usd. Lucky for all us lth's even though at horrendous cost for the wworld. Atb.
Also Steve, in his interview, JS stated that a lot of work had been done to get very very commercial rates from the wells.
_____
"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"
Steve
Pointless trying to make 'armchair' assumptions other than from those at the helm with official detail from the company.
:o)
Things obviously starting to move now. Hopefully they have now covered running costs for the foreseeable. This paves the way for a JV announcement imminently imv.
As I’ve said before I want to OEX to pull this off as much as the rest of you but if they are were going to complete drilling by end of Q2 in the next couple of months the SP would be much higher than it is now and they have only just acquired 100% ownership of Cambay site.
I’m not being negative, just realistic. Hope others can see that despite what that article says.
Worth remembering the MD's words in the interview a week ago:
_______
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)
Bonkle you beat me to it, the armchair investor link was what I posted yesterday I was looking for it to begin to show Gordon that drilling is supposed to be completed before the end of Q2. Many thanks.
Gordon as drilling is due to completed by Q2 II would advise there is not much time left and so I still expect the Cambay RNS this week
Guess the usual deramprrs will be in hiding today
Sorry that article is just plain wrong. Nowhere in any rns does it even imply that. It would be impossible. Years ago, when they first talked about these two Wells they used to talk about ordering the long lead items for the drilling. They won't have the finance to get that far until this quarter. Atb.
Excellent news ! :o)