Member Info for Callum28

Nah Vac
15 to 20 mill shares is me ;)

Hi Gordon
It was just a thread I was on about pressure in C77 and C 73 .
And how and why they were coming back into production.

AHH that.makes sense !
Cheers

Strange
Why would they want to.put them back into production.if there's no pressure .
Doesn't make sense that .

AHH the good old days !!
Let's hope not ;)
Gla

From last RNS

Following receipt of the necessary environmental clearances, production from well C-73 and C-77H are on standby for re-commencement.

I mean LNG rates hit

West India Marker hit record high of $17.925/MMBtu on Jan 18th 2021 down from $32!

So based on your nos if we had a commercial rate of a reasonable $10 /MMBtu we would have easily have $1million a year income for doing nothing .

If we can turn the wells back on that helps cash flow at least we can agree on that ?

Gla

Hi span
We can agree to disagree

I mean my Mbtu price was $4 whereas commercial is much higher .

So let call it an even 1 Million a year just if we turn on existing infastructure.

My main.point was actually that the Anand CNG network is now built

Rome wasn't built in a day !

GLa

1 Million standard cubic feet per day to Millions British thermal units = 1,040.00 MMBtu/day

2.5 million MMscdf=2600 MMBtu/day

Say $4 cap rate set centrally for domestic

2050 MMbtu x$4

Is $9000 a day or. $3,285,000 per year income if they can turn 77h back on .

That's straight away no drilling!!
Not sure if that includes 73

GLA

Joe has said we are turning 77 back on

Modi wants city gas networks to increase

We are ready to sell to the Anand CNG network

This old article explains from 2016
Cambay Gas Market

Cambay-77H gas continues to be sold into the low-pressure gas market in the immediate vicinity of the field partially serviced by the gas buyer and has a peak demand rate of ~0.57 MMscfd. The Company has been monitoring the licensing process by the GOI for expansion of a City Gas Distribution Network for the Anand Geographical Area (Area) which is ~1,900 km2. The Cambay Field is located within the Area and has a natural competitive advantage to imported LNG, which is currently used to supply gas within the Area.

The award of the license to upgrade and enhance the gas distribution network is anticipated to be made during Q1 2016. Under these arrangements, existing and new commercial/industrial customers having a gas demand up to ~2.5 MMscfd are expected to be supplied by the licensee who sources gas from upstream producers, such as the Cambay Joint Venture.

The link has been completed since then so Oilex are saying there is /was Demand for 2.5M

Modi just speaking afew hours ago
Gla

https://wap.business-standard.com/article-amp/economy-policy/india-to-spend-rs-7-5-trillion-on-oil-and-gas-infra-in-next-5-yrs-pm-modi-121021700989_1.html?__twitter_impression=true

No problem
GlA

Hmm depends how you top up
You could sell some shares now and then buy up the entitlements on those left essentially averaging down .
If you need cash to get entitlements .
GLA

Yes they get shares realtive to there holding .
But so do Other shareholders if they take offer up .
Ft recommend take rights then sell
https://www.ft.com/content/c8fad666-84c7-4f34-a111-e29239a16aff
Depends if you trust FT
As always DYOr

Yes I agree it's old but handy to remind people of what happend .

Imo Crytos are in a bubble ,I tried Forex once and it wasn't good.
The thing is I don't want quick speedy gains on this particular account as I it's ISA friendly .
Each to there own I guess.
CFDs and spreadbetting seems to be popular and I would imagine why people talk a stock up.or down but funny enough the big providers wouldnt let any new accounts be opened on oilex on the buy side pre the last rush.
How strange
Gla

Gordon
I think the new techniques will work.
Heres a link to article which explains how bear we came last time .

Oilex’s main project is in Gujarat’s Cambay Basin where the group is the first in India to deploy the horizontal drilling and fracking techniques used in North America to exploit unconventional oil and gas. Its Cambay 76H well came as close as you possibly can to banking a winner – but you get nothing in the binary world of oil and gas for coming close

https://www.proactiveinvestors.co.uk/companies/news/48034/oilexs-future-looks-bright-if-it-can-unlock-huge-potential-of-indias-cambay-basin-57250.html

Thanks Spantrout.
Bet you were gutted u didn't invest when it was so low ;)
Gla

There's lots of other ways a lender can collateral other then dilution.
Options are one way etc etc .
Chill Jezz
Gla