Member Info for Conger2

To repeat this is still massively under valued ....

For the new members Long term holder here with 50m plus shares who has banked a lot of profit with this stock of the last 2 years.

I been doing a few sums and I see 0.70 to 0.95 as sensible valuation right now, it values the company assets at £50m to £70m.

I see Cambay at around £40m conservatively, on its own now it is free with it is 100% owned even unproven, then there is existing infrastructure to add, two other fields, the good will, 2.5m in cash and intangibles .... Cambay has audited 1TCF of contingent 2P gas reserves, if they get the flow rates they have the rights on 161km sq of land there.

Also I understand GOI approval is expected any day now via company official communication saying in Nov -21 expected 3-6 months from End July 2021.

Remember i got this in Nov from their PR company.

"Oilex remains very confident that the approval will be received but appreciate the frustration you have with regard to the delay in its arriving. It is the company’s understanding that estimates for GOI approval range from 3-6 months and the clock started at the end of July when the bank guarantee was put in place. The company shall of course update shareholders as soon as such approval is received."

6 months is the end of Jan.

Does anyone have prices on the gas sales price per MCF at the pump head for Oilex in India?

I been doing a few sums and I see .70 to .95 as sensible valuation right now, it values the company assets at £50m to £70m.

I see Cambay at around £40m conservatively, on its own now it is free with it is 100% owned even unproven, then there is existing infrastructure to add, two other fields, the good will, 2.5m in cash and intangibles .... Cambay has audited 1TCF of contingent 2P gas reserves, if they get the flow rates they have the rights on 161km sq of land there.

I was trying to get sensible pump price for gas in India (Cambay) per 1Mcf but did not have much luck maybe someone else can give me that?

Love it Toptuf... cheering your own gloom :P

About time Oilex got its act together and really paid out tbh... although I recovered all my loses and got very much into the black on some well times sells and in Oilex this year, but it has been a painful journey of well over 5years!

Can we have another .5 up swing please. :)

Just wishing all the guys and girls on the Oilex board here a Happy Xmas, and here is hoping for an epic 22!

is this you talking Or them QS?

I just wondered is anyone on here over 100m shares held?

I know i am not alone in the 50m to 100m range.

no lol .... JK @ Gordon.

Ahh sorry VF was being a bit feisty. :) Merry Xmas.

Assume ..... a way to put an Ass in front of U and ME ....

I have significant holdings, but i also have further funds to invest.

I was wondering as Oilex always seems to push the bit higher or lower that expected... lol Do people think this is the bottom?

Good call Jasper well done, the RNS has done a great deal to improve confidence again.

I am thinking the court wanted to see proof of working capital to lift the order, courts are strange places were very odd things happen.

I have bought my shares back i sold yesterday banking about £15k profit.

It always overshoots on the day, i would expect it to settle back to around .4 after.

I was clear I said it could go as high as .75 as it went over .50 near .60 from memory briefly on the day without GOI approval, so it is only logical to think it would go higher with it.

Is it just me that feels this real unease since Joe stepped down?

I really don't get this timing..

I can not see any reason to raise this money before GOI approval, by all accounts GOI is in the next 6 weeks or so. 6 weeks is nothing in the time lines we have been waiting. Oilex has enough cash to last out that long, and I think it is very realistic to see GOI approval a new base price of .3 to .4 pence, so why raise now for the twice the cost now? It smacks of really poor financial management and possible frustration? Why has no one stopped this on the board, I would kicked off like crazy if as part of the board. This really concerns me about the new management team, something i was already unhappy about.

I am just incredibly glad i sold 30m (half my holding yesterday around .24, i was going to even sell more but had to go out!!

hi Gordon, I hold that i don't think they have the cash position to do test production themselves.

What happens if the77H test hits issues, they need longer to do it and to tweak the methods, it could be a real killer, no JV no cash and more work needed with funder getting jittery. I think the JV will be earlier rather than later to de-risk and pacify investors, as it is a guaranteed win for the share price.

Which i think begs the question what does it hit with a new JV announcement, which could follow rapidly after GOI approval, which i think would be the last barrier to getting a new JV partner?

You keep closer eye on dates than me Gordon was the 18% dilution announced before the .50 day peak?

I think is was so priced in.