Member Info for Callum28

Another piece of bull****
We have untill 2024 to pay that fine and our joint venture partners have extended loans

he company has committed to a settlement of $800,000 payable in the 2021 and 2022 financial years.

In addition, Oilex has entered into an unsecured loan facility agreement with two of its JV partners which further provides the company with the option, at its sole discretion, to extend the settlement payments into the 2023-24 financial year.

There's some serious bull****ters on here Lol
Cheers

Hi Gordon
According to this clip we paid
Pursuant to the share purchase agreement entered into with HEC, the Company will acquire 100% of its wholly-owned subsidiary, Holloman Petroleum Pty Ltd (“HPPL”) for gross consideration of 40,416,917 ordinary shares in the Company (Shares) at a deemed price of 0.3 cents and A$24,250 for a total consideration of A$145,500

A$145500 which Joe though good business has turned in potentail millions .

How is that' not good business ?

Credit where credit is due I think.

Cheers

Or just under £1.5m Aud min due to oilex next Nov at current armour price .
Armour share Price Could go down also could go far higher but I think we my we can congratulate Joe on a good deal as it stands.
Just injecting a bit of realisim to the usually pessimism
Cheers

Armour energy share price 6.3c

I just said it was boring didn't say we wouldn't make money in the future.
Jez chill

I'm still investing. In this share
And I'm sure it will come good
But it's still as boring right now as a Boris broadcast ????

Bored

So our market cap is 3m
Armour shares at just under .o6 cents are worth just shy of
1.4 million dollars
Go figure
Gla

Aww I thought u were being nice to me :)

Armour energy at 5.3c
Well done on a good deal Joe
I feeling we are in safe hands
Gla

I would will Oilex be attending this virtual event

https://www.thejakartapost.com/adv/2020/11/19/road-map-to-achieve-record-oil-gas-production.html

https://oilprice.com/Latest-Energy-News/World-News/India-Urges-Oil-Firms-To-Consider-Foreign-Partners-To-Boost-Production.html

https://jakartaglobe.id/special-updates/towards-achieving-oil-and-gas-production-target-of-1-million-bopd-12-bscfd

Yup I thought so but do u think I should try just to be cheeky
I mean I messaged Joe and he replied didn't say anything but he replied ??

I'd love to email Germi and ask them what's holding the sale up.
I have there email do u think I should or would I look a right bell end

Hi Gordon to holpes really in terms of funding
1
That Gspc return some or all the cash calls on the sale of field
2
The market can set a value based on how much the bidder values the field along with the NAV value.
The most common and widely accepted method to value an oil and gas company is a Net Asset Value Analysis, and nearly every valuation estimate for oil and gas assets will include a NAV analysis. However, relying solely on the results of a NAV analysis leaves the estimate of value susceptible to some potential shortcomings of this method. Although a NAV is essentially a very detailed DCF Analysis which includes very specific information on the selected oil and gas reserves, all of the other methods mentioned above should be considered and evaluated when performing a valuation analysis on oil and gas assets.

A Market Approach provides an estimate of value based on how investors price similar assets by using a multiple on a common metric. Although sales, free cash flow, and EBITDA are commonly used metrics in this approach, the metric need only be observable, not necessarily financial. Care needs to be exercised when selecting the metric for a Market Approach valuation.

That's my take unless someone else has any input

It's a complex sale of the oil fields and I think Covid has just slowed it up badly .
A bit of luck and GSPC will get it sorted .
http://www.diligentia.net.in/gujarat-multiple-bids-for-gspcs-blocks/

I suspect our sale is linked into the sale of the other 7 blocks GSPC are selling and that may be slowing things down
https://timesofindia.indiatimes.com/city/ahmedabad/gspc-begins-process-to-sell-stake-in-7-onshore-blocks/articleshow/74999891.cms

It's all down to Covid Gordon
Here a clip from https://www.indianpetroplus.com/
GSPC's attempt to sell oil fields run into COVID trouble
Nov 02: GSPC's attempts to sell is oil fields seems to be run into trouble
8But it is now honouring cash calls from operators of some of these blocks
Click on Reports for more Details

Just my opinion but I wouldn't get to hung up on it
It's the accountants just dotting the I s and crossing the Ts
If you get a solution to Gspc sale it will be reveresd the main thing to focus on is this .
While the process remains underway it has experienced a significant delay caused directly by COVID-19’s and its direct affect
on GPSC staff and the financial viability of some of the companies which had placed bids on the GSPC sale. GSPC’s intent
continues to finalise the sale of its Cambay interest and Oilex continues to work towards this end result.
"Oilex remains in discussion with a number of companies who have expressed interest in the Cambay PSC and its potential.
While Oilex has formally declined the first right of refusal in relation to GSPC’s nominated highest bidder, it reserves its first
right of refusal in the event the bid should process pass to another bidder."
Oilex hasn't had to waive it's right of refusal with a new bidder so I assume the first Bidder is still the nominated bidder and that we are simply caught up in this covid mess.
Covid is screwing everything (another lockdown in UK)up so we just have to Patient .
Could be worse u could be invested in travel or hospitality shares .
I'm still a believer and hope the cambay sale will unlock the funding we need for the very exciting projects in oilexs current portfolio .