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I would imagine the prospect of dilution coming soon is going to deter a lot from investing. We desperately need GOI approval before that happens. Gla.
Yes, depending on your time horizon, not bad entry point for whoever has time on their side. Imho
Anything below .15 could be an interesting entry point here(maybe)
Sentiment certainly doesn’t feel great right now. Lots will be looking for the door at the moment, that can’t be great. I wouldn’t of thought the board are sitting comfortably right now, perhaps they are. It certainly feels more like a gamble than an investment. We’ll see.
I thought with the new management we might be kept better informed. It would seem not.
Agreed, if approval doesn't come before they need to raise, I dread to think where the sp will be after the raising.
I just don’t understand what it is with Oilex not keeping us in the know.
I hope you understand the seriousness on what I’m getting at if this isn’t resolved by January.
I've already said Yuri. Bang on a few doors. For all we know, they may be doing just that, but for crying out loud, let us know.
If Oilex was your company Gordon, and this ‘red tape’ lead to you becoming financially crippled, what would you do about it?
Yuri. Do agree that with nothing happening with Cambay, we need to know what else we are getting for the cash burn.
Sorry, this is total nonsense. Of course they are not doing it on purpose. Gspc have wanted shot of Cambay for at least 5 years. They may be dissatisfied at the low price they eventually got, due to circumstances, but to a multi billion organisation like them this is a trivial matter. To suggest some sort of vendetta is bonkers. Dont forget that Gujarat state, for whom this is closer to home, had no problem approving the transfer.
No idea why something that we are told is a rubber stamp, is taking so long. Probably, just red-tape, on something that is important to us, but not to them. Oilex need to be banging on a few doors and geeing things up, and keeping us better informed.
BTW Qs. They are not bitter at losing the court case, because they did not lose it. The judge was neutral.
Gka
Is there a legal deadline? Let’s say we get to January and still nothing? Not only would the SP be on its ars*, but the fund raising price will be so low that the shares added will be a stupidly high number.
Where does Roland draw the line and seek legal advice on where we are potentially being pushed into financial difficulty under the speculation that GSPC and the GOI are trying to cripple us and getting the last laugh.
£100k cash burn a month for the so called background work? What work? There’s been no news on what this work is?
If nothing by the AGM which turns out to be nothing but the same as we see in the quarterly reports then I’m sure more heads will be spinning.
It’s diabolical
I won’t be touching India again once I bail out of here. Offer me 0.25 and I’ll be gone
This is what they have said about GOI approval on various dates.
Rns on April 1st. " In a favourable time frame ".
Rns on April 30th. As above.
Rns on 10th June. " In the coming months".
Rns on 30th July. As above.
Rns on 28th October. As above.
Its obviously out of Oilex's hands, but you would think they might make some comment as to why its taking so long and what if anything they are doing to chase it up. Gla.
Agree absolutely Conger. Just to keep repeating " in the coming months" doesn't cut it.
It is just scandalous the damage and credibility these delays are causing Oilex and our view as investors of doing business in India.
I'll just wait - more likely fall than go up.
Probably should
Suggest you get a new broker
hmmmm
This has flopped big style. Lesson learned.
Hi
I meant OEX on the ASX (Australian Stock Exchange)
Which as we all know the Asx means nothing on here
OEX up 33% on the ASX and on decent volume too.
ECT just hit 0.069- up 40% today @ 1.53 pm. 2 hours to go before close