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It seems that the Oilex directors, in overcoming numerous challenges over a period of 15 years to finally achieve their objective of complete control – and with it the potential profits – of the Cambay asset, have shown themselves to have, as Solomon said, “focus, perseverance and capital discipline”.
For Oilex, the Cambay contract is the asset that, once sealed and delivered, and once they can unlock its potential value, will most likely transform the company.
'Drilling is expected to complete in the second quarter of this year, once the binding sales and purchase agreement, and funding arrangements, are completed. ' Taken from https://www.thearmchairtrader.com/oilex-ltd-shares-can-cambay-field-potential-transform-the-company/
Focused on point company turnaround cash king
Re rating solid news
Was just thinking that. That would be a pretty quick turnaround in Q2!!
restarting
Morning Gareth. Not sure where you get the idea that drilling will be completed by Q2. Probably wont start until Q4 at the earliest. Unless you are referring to the restating of the old Wells? The only things they have said are expected in Q2 are completion of the deal and finance. Atb.
And oil price up today as well .yay back up we go .
EspenViking I think you hit the nail on the head, it does show that the Indian govt are working and so it can’t be long now before we get an RNS on the Cambay as OEX expect to have completed drilling by the end of Q2, that doesn’t leave much time to get everything in order prior to drilling so I’d expect another RNS or two this week.
Some more money in our coffers should be a very interesting session major rerate in its way
Another loose end tied up and more money in the bank, happy days!
Re-assuring that GOI clearly are “back at work” again after Covid , bodes well for.Cambay
Good news. Clearing the decks to concentrate on cambay. More cash for coffers.
Last trade in AUS at time of writing was equivalent to just over 0.3p here. They like us are waiting for cambay news. Although I expect as a much bigger market, 5-10 times daily volume and sometimes more than they get in AUS, we are driving.
Why are the Aussies down again ?
Bandit sales proceeds expected finally later this month.
News flowing
I'm liking the action being carried out as announced