Member Info for Callum28

I suppose that would explain why it's so cheap Conger.
And it is cheap
I mean they say they are turning C73 and C77 back on and we will then get 100% of revenue..
There's already a third party buyer lined up

You might be right Gordon .
But 5m USD cash calls are on the books in black and white as owed to us by the JV partner Gspc
Thats clear.
Will we get that much ,I don't know TBH

Hi Gordon
My point about Magna paging 10m for 10%of Cambay PSC is that trying to value Cambay is like trying to value Tesla!)
But what ever way you square it we are getting a good deal on price considering we haven't waved Cash calls of 5m and the CGUs assets on Cambay are worth 1.4m.
As ever share price is one days view ,good entry price today if u want my opinion.
Just read the report .

It seems to indicate that we are still after our cash calls .
As I said the Assets in Cambay the CGUs are worth $1.4 mthat's C73 and C77
That's all in the report

Sorry my mistake Magna paid $10m USD for 25 of psc
Still getting Cambay for 2.2m will 1.4 m worth of CGUs onsite seems good

It's important to be balanced I think

Down side is that we have a bit more dilution though it does say to sophisticated investors so I would imagine they would be in for long haul

Upside to me is that Magna paid $25m for 25 % of psc
Oilex had agreed to sell up to 15% of its interest in the PSC to Magna for up to US$6mln.

Magna has already paid US$4mln for an initial 10% stake in the PSC, but Magna will now receive Oilex shares instead of a stake in the PSC.

https://www.proactiveinvestors.co.uk/companies/news/57899/oilex-issues-shares-to-magna-energy-68158.html

As far as I can see we still have not waived our rights on cash calls $5m

And we are paying 2.2 m for Cambay when the Cambay field development assets are worth $1.4m

There a.lot in there on Irish sea ,West kampar etc.

Lots to discuss

Cambay will only cost 2.2m !!
For the 55%
The cash calls will cover that and some left for drilling!
Gla

I've hacked the website so you can read it !
Sending it to Joe as well just so he can have a read.

https://archive.ph/jjHNE

Espen
It so odd to see MMs scraping over a few pips here and there across the week.
I guess it's like muscle memory and they just get into the same routine again and again.
Let's hope we can break the cycle

https://oilprice.com/Energy/Energy-General/Brent-Back-Above-69-As-Bullish-Sentiment-Holds.html

https://news.sky.com/story/all-bar-one-owner-mitchells-butlers-faces-investor-backlash-over-top-pay-12243959

Haven't a clue what's going on.but someone bought a load at the end of the day ;)
It want me but I'm balls deep in.oilex shares
Fingers crossed .
It takes as long as it takes
Gla

Oh I don't there been a few up and downs
That the life of investing
https://youtu.be/2Kx2PbA8bCI

Beadle I invested in oilex to pay for.my kids holiday when they were 5.
Suffice to say they go to uni this year !
Trust me when is say when then a few us on this board who been waiting a long time !
Gla

Beadle YourJust a wee baby in oilex investor terms then ;)

It's the quite day like this where you can actually get some sense of timeframe .
We have been in a tussle with GSPC since 2018 !!
In terms of timescale the current developments are a mere drop in the ocean.
The day traders want it all today ,the impatient weekly,the reasonable monthly and those who make serous money have a longer time frame.
Take your pick!

Motley fool likes bank of Georgia

https://www.fool.co.uk/investing/2021/03/08/4-cheap-uk-shares-id-buy-before-the-isa-deadline/

https://www.fool.co.uk/investing/2021/03/10/lloyds-share-price-forecast-is-50p-obtainable-this-year/

Just a reminder to all why we are heren

Crude oil and gas prices are not gonna go down this year.
Just printed today
https://energy.economictimes.indiatimes.com/news/oil-and-gas/crude-oil-declines-but-stays-near-70-as-demand-recovery-hopes-lend-support/81459457

India desperately needs its own power sources while renewables will help the move from coal means Gas and oil are critical for stranded power station confidence in public pricing etc
https://energy.economictimes.indiatimes.com/news/oil-and-gas/crude-oil-declines-but-stays-near-70-as-demand-recovery-hopes-lend-support/81459457

We know Indian beaucracy take time but I suspect we have support internally at the highest levels to get this done.

Funding will be key but India has commited a huge amount to energy infrastructure recently.
I'm sure everyone will be wanting to see Oilex get the funding.

https://www.reuters.com/article/india-gas-idINKBN1Z719S

As I said India is desperate to get wiend off Saudi crude dependence
https://energy.economictimes.indiatimes.com/news/oil-and-gas/saudi-oil-hawkishness-speeds-indian-plan-to-seek-alternatives/81422449

The story is good for oilex we just need to forget the past and focus on the future

Gla

Cambay Field – Reserves and Contingent Resources
X and Y Zones – Summary
? Gross Proved + Probable (2P) Reserves of 206 Bcf gas and 8.0 MMbbls of condensate (C5+
) in the Y zone
(Oilex net working interest 93 Bcf gas and 3.6 MMbbls of C5+
)
? Gross 2C Unrisked Contingent Resources of 720 Bcf gas and 52.8 MMbbls of C5+ in the X and Y zones
(Oilex net working interest 324 Bcf gas and 23.8 MMbbls of C5+
)
? 2P Reserves validate Oilex’s forward program for commercial development of the Cambay Field