Member Info for Conger2

I have the Rolex I want picked out. :)

Sitting on 35m shares myself, I had divest 6.5m due to personal reasons.

This is an unbelievable opportunity, it going clear 5 bagger on here on news...

Gordon Lloyds come back strong last few days , but NatWest has been the shorter term pick.

Gordon We taking Steak at the Ritz it the weekend come on. :)

https://www.youtube.com/watch?v=C5tLfiu7an4

Nothing has happened yet so ignore it, this is just on rumour.

Anyway ASX open but asleep so should I be...

Your are funder don't have to fund 55% they at most have to funder 55% less 6m cash calls.

At least that is how it will be shown in the JV and Oilex books.

Next they farm out and yes I agree they would hope to keep control this time, as I would, the farm in partner will pay a higher price than Oilex does for the deal as GSPC is forced to sell to sell to Oilex, so there should be room for working cap for Oilex to be left after the funder is paid back.

Any that was my logic and how i would do it, but Joe has been at this a lot longer that me and have contacts, reputation so.... lets wait and see...

And you missing the point this is not about is the drills are successful that is a long way off, this is about getting cash in the bank and making trying those drills possible again.

If they drills are successful well the value will rocket way beyond where we are after this deal is struck.

I used any numbers and kept it very simple to show the point Span ....

Like I said there is any number of combinations of deals that could be done.

What is clear is that Joe know how to make a good deal .. AKA Armor.

But also some of the 20m buy will be in shares or some sort of future royalties I bet

Maths is buy 55% for 20m less 6m owed 14m sell the 55% 20m leaves 6m work cap for oliex.

You keep forgetting the 6m cash calls. They are getting the 55% at a discount of 6m cash at least.

I think they have a short term funding to get a a farm in partner Span, the money from the buy in will repay the funder and give them Working cap.

In this regard, the Company advises that Oilex and GSPC are in advanced discussions where it is proposed for Oilex to acquire GSPC's 55% participating interest in Cambay. Oilex also advises that it is in advanced discussions with third parties to provide finance, including working capital, to Oilex should this occur.

This is not normal Working Cap Span, they have that already in selling Armor shares, it is specific should this occur, ie if the they have 100% of Cambay.

So do I as I am 55 in April and this could be my pension sorted in one day with my holding. ^^

It not just the value of the assets, as the RNS says they are getting working capital as well which means we are going from holding 45% we can do nothing with to holding 100% of it with the money and freedom to develop it.

Mass game changer ... 1p plus.

**********.co.uk/listings/lon/oex/

https://www.**********.co.uk/listings/LON/OEX/

https://www.**********.co.uk/listings/LON/OEX/

Lots of good info about background and interviews with Joe on here for new investors.