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Sorry Gord........... spotted you double negative...... = a pos .... :()
I was off ramping some of me others, and that...... so missed your thoughts........!
All the best (quick sum up, if you've time........ :)
Smiley, I think I'd rather say less pessimistic. Lol. Certainly, back in the summer, before the deal was struck, I had virtually given up on getting my investment back. The sp was 0.12 and if it had dragged on to arb next spring, I think it would have been way sub 0.1 by now with no guarantee of survival. I still think all scenarios are possible, but am leaning towards the positive. Not long now. Atb.
hey gordon, never seen you so optimistic before. been following this chat room and most of your past chats was sorry if i might say, "alot of moaning groaning over the falling value of oilex", and now it has changed to the opposite! great to see you getting excited over this. yes. i'm definitely holding as i see value in the bod, not the company. joe and his team, has demonstrated to me, that they can be trusted. look at AAOG and their demise. Good asset but poor management = **** share.
hey gordon, never seen you so optimistic before. been following this chat room and most of your past chats was sorry if i might say, "alot of moaning groaning over the falling value of oilex", and now it has changed to the opposite! great to see you getting excited over this. yes. i'm definitely holding as i see value in the bod, not the company. joe and his team, has demonstrated to me, that they can be trusted. look at AAOG and their demise. Good asset but poor management = **** share.
Yes Smiley, depending on the valuation, that 15% would give them a few million to play with and also reduce their share of the costs. I wonder if they might hold the cash in reserve in case Cambay needs it, rather than pushing ahead with Oz. Atb.
Hey gordon... they are very indecisive people. GSPC management did not know what to do with cambay. and when that happens, they choose to remain quiet rather than fixing the problem, thus gspc's behavior being baffling. I am in full view that oilex should farm out 15% of their share in cambay to their new jv, so that they can also focus on aus and uk projects. in my honest opinion, gspc is confused and lost. but we need to note that gspc knows they were going to lose the arbitration case, and remember that time when the gujarat pollution board even said oilex polluted cambay? so many attempts to displace oilex from cambay.
my best guess from everything that is happening with all the extensions that is happening is that oilex is confident in getting the unpaid cashcalls of 5.5million USD, thus them extending the projects ( note, they did not give up on it, they just need the time to get this unpaid cashcalls back which is very soon) to embark on the new projects -- something the previous bod failed to do. This is indeed a very exciting time for oilex, as we are finally going to see how capable the current bod is in turning the tables around for oilex -- to be profitable once again.
Lol. Not all Chesh. Just saying if that scenario did come about, it would be worth thinking about. Wouldn't be totally amazed at any of MI's range of scenarios.
All the best (Chesh a ramper - surely not).
Gspc's behaviour has certainly been baffling. Why on earth having invested so much did they risk losing it for such a piddling amount ? Which when it came to the crunch they were then able to deposit with the court ? They then said they might dispose of it because it didn't fit in with their portfolio. Then eventually agreed to sell under a deal we don't know the details of. Oh well, we will hopefully know soon.
Spoiler alert...........! #Gord...... :)
"Might be very tempted if it shot up to say 0.4+ on the day to bail out for a small profit in the hope of buying back cheaper later, depending on how it was panning out. Atb. Gla."
my gosh.............!
All the best (TBF, I thought I was a ramper :()
MI. Pretty much agree with your assessment of the range of possible scenarios. Personally, not sure, I'd put the short term upper end much higher than 0.5, but as you say, who knows. The owed cash calls are more like £3m so getting all of that would be a big bonus. However they will need all of that and more to get the two wells drilled. Feel therefore they will need some more cash maybe via a farm out. That might hold the sp back a bit.
Might be very tempted if it shot up to say 0.4+ on the day to bail out for a small profit in the hope of buying back cheaper later, depending on how it was panning out. Atb. Gla.
Sounds easy for sure Mr.I............!
court case, holiday judge (for you Gord), arb, arb pulled, sale of Cambay 55% share.............!
All the best (we wait, GSPC are not to dealt with in the future.......fo sure, knock on effect :)
Possibly why they're "pleased" with the extension then Gord...........?
knock on effect from GSPC dawdling ......... :()
All the best (home soil............. rather than an Indian .........?)
Morning Chesh. In a word no. They simply don't have the money. There is also a renewal fee of $1m. In all the oz rns's they stress the suspensions. This from September.
"The total annual amount of the Northern Fairway PRL renewal fees is approximately $1 million. The Company also assumes the expenditure targets under the PRLs. Failure to achieve the expenditure target will result in pro-rata relinquishment of the permits. The Company notes that the Northern Fairway PRLs are currently suspended by the South Australian Government, suspending the annual license fees and work obligations. Oilex intends to continue this suspension for a period."
The only way they could go ahead short term would be by raising, borrowing heavily or farming out. Depending on the Cambay deal some of that could happen anyway. Gla.
Morning Gord........
this is what caught my eye........"extension providing further time to finalise these negotiations and obtain the applicable regulatory approvals.", apart from the "pleased" bit........ :()
Now does that mean, we'll be good to go.......... hit the ground running........ all in place....?
All the best (ref-"regulatory approvals".......... :)
We certainly don't have the money but that won't be the reason for this delay. There was only a nominal payment to acquire them. The oz fields are in suspension, with something called a rehabilitation fee of $1.1m needed before anything can happen plus you'd think millions more to start anything practical. I don't think there is any particular date when Oilex have to start work. Doubt if they intend for much to happen until much later this year. Gla.
I thought the same tintin...........!
A knock on effect from the GSPC dawdling........... :)
All the best (up 5% atm though so WDIK........ :()
I suspect Aussie purchase involves money we haven't got yet - Best wait till Cambay is resolved before splashing it.
Well theres one extension will this bod complete anything on time gla
Extension for Acquisition of Cooper Eromanga Licences