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As I said earlier I do recall a time when gspc said the reason they didn't pay was due to they were not in agreement with all expenses, yet then they paid some lol
Yes part of the court order states that they must pay current and on going fees whilst arbitration is ongoing, whether that means debt or not is a little ambiguous as current is their debt too. should they not comply it would be an admission (yet again lol) that they have broken joa and so on so on.
Got to throw humour on that one lol Ive seen .5 five times, 4 times in a week or so lol down big time, then up to .64 then down to .4 then up to .64 then down to .40 lol
But whatever, they have to cough up now and get on with what the joa stands for / and purpose of (drilling wells lol) so oilex is sound. Not dead and buried as once thought possible, which is why the sp went down here
We could still get it for free. If arbitration rules they have reneged on the agreements.
They have to give oilex 1st refusal
some people hang around all day and antagonize others
Q/ who
Spike knows his stuff. We see no more news now until 1st December. mm's brokers and the likes hoover up day make and so on. hold tight if you (like me) didn't sell in .6's
and at the same time when sp tanked on success, I was told anything good will be taken out.
and spud was told by md that they didn't want sp getting ahead of itself lol
You can deramp all you like. It hit 12p and that weekend appeared in Financial Times touted at £1.
That simply on flare being lit at 77h.
At that time $millions had not been spent on pipeline to local grid and no production.
77h met all local demand so no need for 73, they said it was poor marketing but had a contract with someone who chose to remain anonymous for all produced to local grid but 77h met all demand.
Yes there were around 30% shares in issue at that time but no pipepline no reworked 73 and no gas sales contract
A little misleading you are.
The sp was so low due to the fact that gspc were not paying, had left oilex basically without a JOP that owned 55% of cambay. A disaster in other words.
The funds and disaster will now be resolved and oilex whether with all or still with GSPC can continue with plans and gspc have to pay ….as in court order, even during arbitratrion
At least in the meantime they have to cough up current and future 55% costs, if they don't they will not only be breaking JOA but will be contravening court order too.
No time limit but they have already tried to delay and not got away with it.
However arbitration can take a long time, having said that this is not a highly in depth case as many are, its a question of whether they broke the joa with or without good evidential reason.
But with GSPC in a financial mess, the last thing they wanted to do was cough up for cambay or speculate more money after previous recorded disasters of 76 and so on. Always nice to have the asset that's not top on their list though, eh?
Lets hope arbitration sees it as default, then you see your sp. In the mean time...….I paste again.
Accordingly, in addition to submitting in aggregate, 30 crores rupees to the Court, GSPC will also be required to pay its current and ongoing 55% share of the Cambay Joint Venture expenditure while seeking to have the EoD Notice rescinded through the arbitration proceedings.
No, but they will get their money it seems.
Having 100% of cambay now looks as if it will go to arbitration.
I remember last I followed ,,,,,Gspc had stated they were not in agreement with the booked expenses oilex had claimed.
That, I think will be their case at arbitration. who knows, but we'll see.
You cashed your short then lol, bought back in lol
Your investment here is prime example.
You were triple stake. had you sold half you would have 150% of your initial investment in bank and lots of free shares, wait for the news then decide if you want to reinvest upper or lower. Or find another and try get some more free shares.
Hard work and a gamble.
So much of big investment work on 10%,s to 25%'s so you have to set yourself a target and stick to it (like I didn't lol)
Its so easy to get carried away with excitement and get greedy thinking you are going to be rich. Some small investors do hit it lucky in aims with a couple of big baggers, but the most successful are those who play and stay for continual trends
Who could say where its going, it will go where the money guys send it mate.
So many say that you buy on rumour and sell on news, don't know if that's great advice but so many say it
You again are happy, Guess it adds to your happiness to see peoples hopes diminish too even if they help you keep going,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,Nice person?