Member Info for adamk87

Not sure Gordon,

Theres also this statement.

We also point out that the true potential at the Cambay field PSC is a lot higher - the 145 Bcf planned to produce until 2029 represents just a fraction of the resource here.

Theres plenty of info on the note and i cant seem to find much else to compare it with, will look in more detail this evening.

Pretty much. The asset isn’t the issue here, the issue is gspc. With gspc dragging their heels for so long pi’s and the market lost interest for a while, only waking up again with communication in sept.

Those saying gspc will continue to drag their heels etc etc forget that its not them selling their pi. Its an appointed company (this probably being one of many stipulations of oex dropping the lawsuit) so its out of gspc hands. Oex will have agreed to the extension for a reason.

The government and just about everyone bar gspc want cambay up and running, contributing to the economy and society.

We’re 45 days into our 90. 20 days left for tender process. Not long at all. Strong buy and hold for me. GL

Allign put out a note back end of 2018

http://www.alignresearch.co.uk/wp-content/uploads/2017/11/Oilex_Initiation_Align_Research_16th_November_2017.pdf

PG 24 for valuations.

Breaking it down they valued 30% of cambay at $66m (around £50m gbp) as a minimum with potential for much more, reason below.

We also point out that the true potential is a lot higher at the Cambay Field PSC - the 145 Bcf planned to be produced until 2029 represents just a fraction of the resources here. We in fact see our model and our valuation as actually representing a base case that does not account for further extension or an even larger expansion. An additional government approval would be required to extend the PSC beyond 2029.

Hope this helps. Gl

Chesh i’ve always been of the same opinion.

I’ve also felt oilex first refusal is a big card to play for any interested party, hence mentioning a JV with a likely interested party is most likely scenario.

Maybe it is a case of a,b and c putting in bids for ‘x’ amount with oex requesting an extension to match the terms on offer alongside whoever they take on as a partner.

Its taken a long time to get to this position with gspc agreeing to sell of their pi, cambay is a massive resource. Lets see what the next few weeks bring. GL

On 9 September 2019, the Company announced that it had reached a settlement with GSPC which, upon completion, will resolve the ongoing Cambay PSC dispute. Significantly, the Indian Directorate General of Hydrocarbons (DGH) is a signatory to the settlement.

The Directorate General of Hydrocarbon is the Indian governmental regulatory body under the Ministry of Petroleum and Natural Gas.

Cambay is no joke, the dispute and successful resolution of this is witnessed at government level. We are in a win win situation, albeit patience is needed (not a lot as a couple weeks is nothing and things can turn very quickly so make the most of xmas sales coming early here!).

Im willing to bet at least another 10m shares the extension is down to the number of interested parties and the selling party not having enough time to go through dd with them.

We are also due news in Australia this month. AGM will be fun. GL

I’ve just added 2x 2m sub 0.20 too. Have another 10m worth of orders to fill if lucky enough.

Easy money at these prices, gla.

Got this at 11.38am today, only just seen it. Mike has confirmed it will arrive next week.

Hi ***
We expect to release it next week.

Kind Regards

Michael Langoulant
Interim CFO
Metals Exploration plc ¦ Runruno Gold-Molybdenum Project
Registered Address: 200 Strand, London, WC2R 1DJ ¦ Registered in
England & Wales
Registration Number: 05098945
Admin Office: Portland House, Bressenden Place, London
SW1E 5RS
UK Mobile: +44 (0)7899 249990
Email:
mike.langoulant@metalsexploration.com

My bad, my interface shows comments in list view! When you mentioned me being keen and not minding a ramp i thought you were referring to my testing year highs in Nov prediction!

Im very bullish here! I was here last year when this went up to 0.70’s it literally had every man and his dog interested thinking gspc would have to forfeit Cambay due to non payment. Cambay is a massive play and when word comes out next week of bids/jv partners or whatever i feel like this will go crazy (just my opinion) hence my bullish prediction!

Check back in later. Atb

Haha Friday SP predictions are a favourite of mine! Bullish opinions and predictions always rub bears up the wrong way lol!

Cambay bids in by Monday!

Not ramping, just giving SP prediction.

You and others more than welcome to share your predictions for Nov and end of year. Some wont be so bullish and others will be, its good to see both sides and which side of the fence posters are sat on.

So fire away Formul, where do you see this come end of year?

Ok so my target price is this.

Expect to see year highs (0.70) hit in November. A target price of 1p by year end (around 30m mcap).

Had quite a few winners recently, OEX will be next imo. GL

Pretty much spot on BN.

On a separate note, i found it strange Mike not replying to my email. He’s normally pretty sharp in this regard but its been over 10 days now and nothing.

RH if you look at the buy just gone in, its pretty much at full ask of 1.25...which has me believe mm’s have dropped the bid chasing sellers down and with the wide spread putting off buyers. Make of that what you will.

GL guys

Resistance between 0.25-0.26 once broken should start to see this move freely.

Bids to be submitted by Monday, should get wind of these at some stage next week. The completion of the Senex acquisition is anticipated in November 2019.

Exciting times ahead for OEX, November is a big month for us. Shares are cheap right now and will be in big demand soon enough, load up.

GL

Plenty of developments taking place throughout the month of November, starting with bids for GSPC PI in Cambay required by Monday. Hopefully we get word of these at some stage next week. The completion of the Senex acquisition is also anticipated this month.

Load up at these prices guys, it wont be down here for long. Should see a strong afternoon push and a very exciting period starting next week for OEX.

GL

» During the quarter, the Company reached a settlement with GSPC which, upon completion, will resolve the ongoing dispute.

» Pursuant to the settlement, GSPC has commenced a sale process of its interest in Cambay. The Company has a right of first refusal in regard to sale of GSPC's participating interest. Submission of bids for GSPC's PI is required to be made by 11 November 2019, unless extended.

Cooper Basin, Australia
» During the quarter, the Company announced it had acquired PEL 112 and 444 in the Cooper-Eromanga Basins. The acquisition was completed in October.

» During the quarter, the Company entered into a binding term sheet with Senex Energy Limited (Senex) to acquire all of Senex's interest in 27 Petroleum Retention Licenses in the Northern Oil and West Gas Fairway in the Cooper-Eromanga Basins in South Australia.

» Subject to the satisfaction of the condition precedent (including government approvals), the completion of the Senex acquisition is anticipated in November 2019.

On 27 September 2019, the Company announced an acquisition of major Cooper-Eromanga acreage position and that it had entered into a binding term sheet with Senex Energy Limited (ASX:SXY) and ("Senex") to acquire all of Senex's interest as operator in 27 Petroleum Retention Licenses in the Northern Oil and West Gas Fairway in the world class Cooper-Eromanga Basins in South Australia (the "Northern Fairway PRLs"), subject to satisfaction of conditions (including government approvals).

I think theres every chance we break the 0.30’s tomorrow late in the day. I’ve mentioned tomorrow afternoon and next week throughout today as to when i think a rerate will begin to gather momentum.

That said today was a great day in terms of volume and shares switching hands with some potentially taking profit (or just selling) and others stepping in with higher averages going forward.

GL

Might just be the best punt you ever made, if you’re prepared to wait. GL