Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Conger. Think your memory is playing tricks. Oilex were not ordered to sell. In late 2018 they and gspc were ordered by a judge to go to arbitration over the cash calls dispute. They filed a case in the
Singapore arbitration Court but continued to negotiate among themselves. In September 2019 they announced an agreement that gspc would sell their Cambay share and both sides would drop all legal action. Gspc had already tried to sell it before in 2016. GSPC were supposed to complete the sale in 90 days. Around December 2019 they said they had identified a preferred bidder. We heard nothing by March 2020 when came the pandemic. All went quiet until February 2021 when we heard Oilex were trying to buy it, presumably because the preferred bidder had dropped out. Huge luck for Oilex sbd thus they find themselves the proud owner of 100% of Cambay.
I can assure you this will be above 0.2p by the time it frac has commenced.
Quint 5 days ago
“Taken a nice chunk of OEX at the floor thank you sellers”
Today
“I would say that now is the time to take profits from poor producers or non-producers like #BOIL and #ANGS and put them into #OEX which actually has gas (1TCF reserve) and will tap into much more in July. Minimising risk is everything in this climate.”
Do not feed into his selling!
Yes toptuf, admittedly not a lot of thought went in my radio comms, I should know better.
Lol
GSPC were order to sell in 90 days by the court, but they took around 2 years trying to run Oilex out of money.
They were ordered to sell their 55% stake by a court and Oilex ended up as the default bidder as they took so long and the other bidders with draw at the start of COVID. They were ordered to sell as they owed Oilex money and were refusing to progress and fund the JV they had with Oilex so bring Cambay into production.
Oilex took them to court for a default of the JV agreement, and tried to get Cambay transferred to free to them as result.
The cash call of I think in the region of 5 million was included in the deal to buy the 55% ..
why did the Indian company sell their 55% stake for cheap 2.5m if the company has a massive reserve?
This doesnt make sense... Anyone?
flow rates increase to 1mmscfd? or 2mmscfd?
Very quiet here?
Does anyone know how much it costs for horizontal well in india?
Is this the time to top up or wait a bit longer?????
Now is the time to start getting a tad excited.
Fracking to start soon and hopefully our wait shall be over for a good return.. 75% plus for a good result on fracking.. If that's not something to look forward to I don't know what is... ;-)
That be where I live.... ;-)
Lol. On holiday tomorrow. South Devon and Dartmoor. Atb.
Gordon, don’t take the car to Norway! Lol
Have a good weekend
This has been going on for years here, tomorrow never comes. A wretched company.
Wish they could have come up with something a bit more original. Just filled up with petrol (184.9!!!) and on the pump they were advertising Synergy oil products.
After fourteen years it's so imbedded in my psyche a name change could in all probability be deeply traumatising
What's in a name?
" What's in a name? That which we call a rose,
By any other name would smell as sweet." (Romeo and Juliet)
Mind you old Bill Shakespeare had probably never heard of PR.
Gla.
I do however believe the name will be beneficial for when they will court investors post the refrack. I have been a supporter of a name change since a while, so well pleased. Mind you never thought the name change on its own would do much at this stage. All about getting ready..
If it's in August, that's 38 to 68 days until we know. Gla.
Well the proposed name change didn't set the world on fire.
Accorging to the rns we should soon know the answer to the only question that really matters.
Let’s hope so C2. Still a risk but at some point 90% COS was quoted, formally Greater than 75% is not poor at all.
What’s another couple of months in the bigger scheme of things... I don’t mind the wait. Well pleased with the update, and yes of course still a risk there might be some delays from upcoming work, although I found the rns to be very to the point. atb
let me know what else you are invested in as reading all your posts you find all the poor companies as you have not a good word to say about anything cheers