Member Info for Callum28

Actually the 5m signature bonus gives a good value on the field !!

Working Area West Kampar

Location Onshore Riau and North Sumatera
Total area 894.48 sqm

Reserves 8.3 MMSTB (oil)
Resources Potential 3 prospects and 20 leads totaling 4,322 (MMBOE (P50)
Production Last production on March 27, 2017 at 112 BOPD
Minimum signature bonus US$5,000,000
Minimum work commitment G&G study, 6 exploration wells, 2D 500 km seismic and 3D 200 km2 seismic worth a minimum of US$ 64,433,080.

https://www.rambuenergy.com/2019/03/profiles-of-5-oil-and-gas-working-areas-tendered-by-indonesia-govt/

Interesting how.much the sesmic is worth alone

By putting this block into auction, the government hopes that the block’ production will reach 1,000 barrels per day.
https://theinsiderstories.com/indonesia-will-auction-west-kampar-block-after/

I know of 3 people who had it

I sit on a board and I understand how much it would gum up the works of the MD is sick.
Let's all hope he gets better .
Please thank Joe for getting back to me on my question.
Cheers

AHH well at least we know ,thanks for asking .Best go back to sitting on my hands !

That's a good question maybe someone could ask Joe what exactly the delay is ?
If it's just a GSPC thing it seems well dodgy to me as if they are waiting to see if we can survive covid .

https://www.google.com/amp/s/www.financialexpress.com/economy/dharmendra-pradhan-invites-us-oil-gas-firms-to-invest-in-india-eyes-this-much-investment-in-5-years/2025245/lite/

Might be cause of the options overhang at .11

London South East
Sound Energy #SOU provides an update on a potential farm-in and operational progress in Morocco Watch Now

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Share Price Information for Oilex (OEX)
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Share Price:
0.10
Bid:
0.09
Ask:
0.11
Change:
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Spread: 0.02 (22.22%)Open: 0.085High: 0.13Low: 0.085Yest. Close: 0.085
OEX Live PriceLast checked at 16:15:06

Loan Restructure and Equity Issue
Fri, 31st Jul 2020 10:45

RNS Number : 7739U
Oilex Ltd
31 July 2020

ASX-RNS Announcement





31 July 2020



ASX: OEX

AIM: OEX

Loan Restructure and Equity Issue



The Board of Oilex Limited (the Company) is pleased to announce that it has taken further steps to strengthen its balance sheet as the Company continues to navigate the impact of Covid-19 on its business and global equity markets. In particular, the Company has entered into an amendment agreement to vary the repayment obligations for its Series C (GBP£125,000) loan. Furthermore, the Company has secured additional equity investment of £0.25 million to increase its working capital flexibility and reduce its financial debt obligations.



Amendment to Series C Loan Funding Agreement (GBP £125,000)



Pursuant to the amendment agreement, the loan repayment date has been extended from 1 August 2020 to 31 October 2020. All other terms remain the same and are extended to 31 October 2020, except for the issue of new options with an expiry date of 29 January 2021. A summary of key terms after the amendment are outlined below:



Term: 31 October 2020

Interest Rate: 5%

Repayments 100% payable at maturity

Options Issued: 113,636,364 options over ordinary shares

Option Exercise Price: £0.0011 per option

Option Expiry Date: On 29 January 2021

Security: Unsecure

Seems to be progressing well

Good job Joe

Maybe it's just me but they did say

Technical work carried out by Oilex and its advisors estimate that the field can be quickly brought back online at 350 to 400 bopd and that significant additional production potential may be possible from infill drilling and also water injection support

Oil is forecast to hit $50 a barrel
https://www.fxempire.com/forecasts/article/oil-price-fundamental-daily-forecast-traders-betting-bullish-eia-numbers-offset-covid-19-demand-worries-665126

So 400 bopd x365 x$50 is min cash flow of 7.3 million $

Hmm top up time me thinks

Gordon I understand totally ,I have a few pubs and I'll be gutted of they close us again.
But as they say hope.for the best plan for the worst .
To be fair to Oilex covid is taking down companies left right and centre while getting diluted is annoying it's far better for Oilex as companies with Debt are dropping like flies in retail hospitality energy and so many more .industries .
The main point right now is to survive

Good point vacation
I'm a lot more confident now in putting my money into Oilex then any other UK shares given the situation with covid.
Might be the right one to short pub shares
https://www.bbc.co.uk/news/uk-53621613

We are all chasing the gold !!
The Ectsasy of gold !
https://youtu.be/ubVc2MQwMkg

Its tough being an Oilex shareholder alright!

It's a hard-knock life for us
It's a hard-knock life for us
'Stead of treated
We get tricked
'Stead of kisses
We get kicked
It's the hard-knock life

https://www.youtube.com/watch?v=9jZiKFLL6MI

https://www.upstreamonline.com/finance/india-upstream-asset-deal-delayed-amid-covid-19-pressures/2-1-834413

Saying that Gujarat seems to be really bad
https://www.bbc.com/news/world-asia-india-53009560
India's highest mortality rate

Could be all furloughed for all we know ,not sure how it works in OZ

Buying Placing shares means the monies go to directly to Oilex
On the market and that's not the case

Gordon/conger

and TH Investments Pte Ltd for £100,000.

I have already discussed my theories on this
Cheers