Member Info for Conger2

A good JV deal announcement and i see no reasons for this to push past to 1p on over runs.

Like i said around £50m cap with good JV deal imho.

So Oilex with get a big pay out plus 1/3 of the shares in the new company?

It India Macca, and time has a different concept a best endeavours undertaking to complete sale in 90 days can have a longer than 90 day tender submission period! lol

this my thread, it has my name on it, get out shoo!

Happy to if he keeps making me money. :)

might not*

I just think the JV announcement could be ready to go Gordon as soon as they have GOI sign off.

As I know Oilex was in communication with pretty much ever bidder for the 55%, and they have have said they interested parties in conversations and RNSs for years.

So my view is you might get much buy opportunity between GOI sign off and JV announcement.

:)

and too put money where my mouth is i bought another 5m at 26.4

I would pick some up now while they are around, you are not going to far wrong at the current prices Gordon., you might make a extra 10% if you buy on dip, but your looking at doubling you money at this level already on the rise, but having none you could just miss the boat, as they are not always easy to buy or sell in quantity.

No Worries buddy. :)

We are a £13m UKP market Cap, at the moment, a £50m market cap + is reasonable in short order with JV buy in i have outlined, with the new Franking method proven commercially .... £100m ++++ very hard to call.

Gordon its not going stick under the floor .238 unless something goes wrong big time and lot of drivers to push it up in short order, I am about 35m at .275p I think that is very safe to make a good return this year on a sell opportunity if i keep an eye on things, if you buy now there will be time in the next 12 months to get out with good profit or ride to the drilling outcome, if you want to gamble more. I am quiet relaxed my shares are free as from profits now so a free ride, and Joe and the his time have proved their resilience while under extreme pressure to quite from a much more powerful, massively bigger, connected business.

The biggest potential driving for a much higher share price for me is the JV announcement, but like the Cambay deal itself the actual value and structure is unknown which makes it extremely difficult to call on the effect it might have.

I am hoping for a $20m USD for around 45%, which will be more than enough to get Cambay proven or not with the new fracking methods. A year or so ago $25m that was the expected out come of the 55% sale valuation, but Oilex does anything but expected. lol

No, but I already chased him up this morning.

It was meant to be a Steak in the Savoy in London.

i am already back in around .27p, i am not surprised it is under .25 now, but i did not want to miss out.. lol and 0.03p is not a lot in the scheme of things especially if a good valuation from a JV comes in.

Jack you been owned! lol

I just sent Joe an email to Clarify the Cash calls.

I still think they with get a JV, even if they get the a good chunk of the historic Cash calls, it going need a great deal of money to do the full development and sharing those costs with a financially strong and potentially technically compatible partner makes sense.

It also would allow them to clear all the rolling loans they have, which have been diluting the equity on each renewal.

O the 9.5m buy as shown up now days late lol

Due to the low price they paid for it and it is unclear how they are going to fund developing it, I think there is real uncertainty on the Cambay's value as an asset.

A funded farm in partner paying proper money for their stake in Cambay say $20m US for 40%, would be see this get past 1p on a spike, as the valuation question would be resolved and they would funded to develop it.

Turning Cambay into a valuable viable gas producing field who knows, but that is very much a putt and 1 to 2 years away.

Indonesia could be quick win in the meantime, Joe was expecting that to be back in the black pretty fast and surplying positive cashflow to Oilex, sub 12 months.

I suspect they sell the Irish sea field.

My buy for 9.5m shares at 9.37am is missing as well.