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33% up on ASX prior to trading holt. Biggest volume since April 2018! In court today with announcement due on or before 6th September! That will be to confirm the 100% holding has been transferred to Oilex. It’s party time for holders who are in at present. I have been saying for weeks this was likely to happen and hopefully it now will. Multibagger when reopens if all goes well www.Twitter.com/AimTraderX
Typical MM's putting the doubt into the PI's head. All this is, is a transfer of shares from the weak and nervous to the MM's who will take them all readily knowing they can sell for far more tomorrow and the days ahead.
Tomorrow morning I expect news and if that news is what I believe then those who have held their nerve will be rewarded. You only have to google GSPC to see the complete mess they are in financially.
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Last day court order protects GSPC! GSPC scam all over the media....just google! Very promising for Oilex obtaining 100% of Cambay now. Massive increase on the cards! Suspension tomorrow morning very likely due to pending announcement! www.Twitter.com/AimTraderX
Smart money coming in now ready for Monday/Tuesday. With AlignResearch giving 680% upturn and strong buy it’s not surprising. Throw into the mix the uncertainty over GSPC going bust it’s a wise move in my opinion. Multibagger incoming! www.Twitter.com/AimTraderX
Things looking better and better for Oliex as GSPC have serious debt issues! Have a look here:-
https://www.livemint.com/Money/gc5PIXqf5hNEFXoAfrilUO/Investors-sulk-as-GSPL-takes-debt-load-off-GSPCs-back.html
Taken from the article:- From the seller GSPC’s perspective, the deal doesn’t really end its debt woes. The unlisted firm that owns 38% stake in GSPL is still expected to be left with a debt of around Rs13,000 crore after this transaction.
The market is going to wake up to the opportunity here very soon! When the 100% holding is transferred back to Oilex its party time for shareholders - I believe it a matter of when now and not if!
www.Twitter.com/AimTraderX
Investors will wake up to this when the RNS comes out confirming payment or transfer of 100% to Oilex. I realise this has risks but this is where the real money is made on Aim by being ahead of the herd. Mulitibagger incoming on decent news. You can only lead a horse to water as they say! The savvy investors will be in prior to the news being confirmed. www.Twitter.com/AimTraderX
Investors need to realise the court won’t decide on how much should be paid or say yes or no to the transfer. It’s nothing to do with the court. The reason the court are involved is GSPC applied to the court last minute to delay the transfer of holdings to Oilex. This is a big difference which a lot of investors are misunderstanding. GSPC know Oilex have followed the correct legal procedure to ensure the default is corrected. They have provided the correct time scales. GSPC knew the only way to delay it was to apply for an order giving them an additional 3 weeks to rectify the matter. Also as seen from the RNS Oilex was not consulted on this. Think it finally dawned on GSPC they were going to lose their holding and applied last minute to the court for a delay. If nothing else this will make them realise they are required to pay their cash calls or they will now lose their holding. My money is on the negotiate a repayment suitable to both parties. Arbitration is what neither want as there are costs involved to the losing party. GSPC has already paid some of the outstanding balance so they must owe it in my opinion. They know it and so to do Oilex. Oilex holding all the cards now in my opinion. www.Twitter.com/AimTraderX
The court order was issued only until the 4th September to prevent the transfer. News will be coming before this date as GSPC will have to act during this timeframe otherwise Oilex will proceed with the holdings transfer. Don’t forget this was only a 3 week stay from the court. News will be coming very soon! Risk v Reward...... www.Twitter.com/AimTraderX
If it goes to Arbitration GSPC may end up having to pay substantial amount of costs if they lose the case. I can see this being settled before Arbitration as neither company will want to pay a huge bill in costs. If the money is owed and Oilex can prove it, then GSPC would be far better off negotiating a deal with Oilex and preventing additional costs being incurred. Where would settlement around 1.5 million or 2 million put the share price?
1. The costs of the arbitration shall in principle be borne by
the unsuccessful party or parties.
2. If, before the award is made, the parties agree on a
settlement of the dispute, the arbitral tribunal shall either issue
an order for the termination of the arbitral proceedings or, if
requested by the parties and accepted by the arbitral tribunal,
record the settlement in the form of an arbitral award on agreed
terms. The arbitral tribunal is not obliged to give reasons for
such an award.
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Just sit tight and wait for next week! ;-) www.Twitter.com/AimTraderX
For those thinking this isn’t going to happen you need to realise the company requested suspension to enable them to announce update to the market. The temporary court order was granted preventing this with a 3 week limit which is the 4th September. If all was lined up ready to transfer the holdings then it really must have been close to being completed hence last minute court order was required to prevent this. Unless GSPC pull something out of the bag we will go back to the same situation where the shares are suspended pending announcement of the holdings transfer. By pulling something out of the bag I mean £3million! Win win for Oilex! www.Twitter.com/AimTraderX
Taken from last update in relation to ongoing funding issues:- » The Joint Venture had approximately 2,113 bbls of oil (gross) on hand as at 30 June 2018. Subsequent to the end of the quarter, the majority of this inventory has been disposed with proceeds anticipated shortly. I personally think news will come before the 4th September. It is in both parties interests to resolve this ASAP. I am anticipating the court order was to give time for GSPC to raise funds to meet the cash calls and resolve notice of default. Whether they will pay the full 3 million or try to negotiate is anyone’s guess but if Oilex have issued a default notice there would be good grounds for certain. If the default notice is valid and correct GSPC will have very little room for manoeuvre if they want to retain their stake. That is a fact anyway you chop it up whether you are trading in India, Turkey, Argentina or Outer Mongolia! Multibag here if we acquire the 100% but also multibag here if we obtain the 3 million which is owed. It’s a win, win situation to some extent. www.Twitter.com/AimTraderX
Has to be one of the biggest risk / reward shares on AIM right now! Huge 700% upside should company achieve what they hope to having issued a default notice to seek 100% of Cambay. Debt settlement also great news for OEX. Court order expires 4th September! www.Twitter.com/AimTraderX
I suspect there will be strong buying into close today. ASX will give us a great indicator Monday where this is likely to be going next week. If another big rise on that exchange (+50% today) then we can look forward to a very nice day Monday. Good luck to all holders! www.Twitter.com/AimTraderX
Don’t be caught out by the 4th September date. This could be resolved much sooner than that. If payment agreed by GSPC expect 100% rise from here and if 100% transferred back to Oilex 500% on the cards. Either way win win situation for shareholders at these levels. Don’t give your shares away easily as huge rises will come here and could come anytime! www.Twitter.com/AimTraderX
ASX up 50% overnight for #OEX....very promising! 3.5 MCap here and company looking to secure either 3 million owed or take 100% ownership. Either way will blow our current share price out of the water. I agree a prolonged legal battle is in no ones interest. Also notice GSPC looking to off load blocks quickly....wonder why that is?? Could be that they are now faced with paying up the 3 million or risk losing their 55% stake. Stuck between a rock and hard place! 3 weeks they have from the court could be to ensure these funds are made available! www.Twitter.com/AimTraderX
This is a win win situation for Oilex. Either the court order is to get time for GSPC to raise the funds to pay up what is outstanding or it is a futile attempt to delay things and prolong the inevitable. The RNS clearly says Oilex has followed the legal process and it doesn’t matter what country you are in a breach of contract is a breach of contract. If their is financial issues with GSPC then it will be settled by paying off the money owed via **************. This could be what they are looking into and why they applied to the court to give them a little time to sort things. Either way it’s a win win situation for Oilex and big potential for share holders. The Align Research article is very interesting with 680% increase in shareholder value estimated should things play out in Oilex favour. 3 weeks to wait but my inclination is that we will hear news much sooner that this now the companies legal reps will have had chance to speak with the courts. www.Twitter.com/AimTraderX
High risk, high reward opportunity here. Court given GSPC a stay of execution. My opinion it will be just that..a delay and 100% ownership will transfer to OEX. With farm in’s already discussed this is great value opportunity to multibag. www.Twitter.com/AimTraderX
Fire tower & Blackhills 3DIP results, 30 drill campaign results at Ernest Giles for Wishbone, Empress and Meadows including one for Carnegie prospective for Nickel! All this news due anytime over the next couple of weeks. Then September 10 drill program gets underway in Havieron! Massive value coming for shareholders! www.Twitter.com/AimTraderX
Way way oversold here on a nothing much as they just could not get the depth required! Great buying opportunity for those interested in 2nd drill results. Bargain!! www.Twitter.com/AimTraderX