Member Info for Conger2

Gordon,

I honestly believe we have not seen anything yet, this is a 10+ bagger in the medium term 2 years

They have the skills, backing, rights , government support to crack on finally.

The 3m Cash call RNS adds 60% to the value of the company alone.

Gordon Joe heard you.

The court action has stopped and GSPC will be repaid.

The money must be recovered later, and yes i will take take time.

They have, they are owed the 3m USD.

I am sure they have their reasons for not including it, i mean why bait GSPC, when they need a cooperative sales process.

The rest of my comments are my own view of course, but reading the RNSs and listing to good oil presentation it is all there.

3m owed is 3/5 of the current market cap shown on here.

HI Gordon,

Yes I have had a reply to my question about the cash calls. It will take time, and not be straight forward but GSPC still owe Oilex the 3M USD or so.

GSPC still owe Oilex the cash calls, when it will be paid who knows.

With advanced plans in place for Copper Basin, East Irish sea and control of the Cambay sale new farm in partners ready to go, I am expecting to see a profitable production business in the medium term, and I give it a 2p + Share price target in two years.

Strong buy.

You can nail me to a cross in 2 years if you like lol.

I am hoping for north of 2p, but there is a long way to go and lot of confidence to rebuild.

I have been in for the long term for over 5 years now.

Yes that might be the move, discount on Cambay, but to be fair Oilex with 45% has prity much got to agree who ever buys it right? With the 10 licence to drill as well for the site held by oilex or at least the JV.

I had a chat with Joe about 1 month ago on the phone, which put my mine at ease.

Just sent them an email re the cash calls.

Another positive RNS whats going on???

I think there is a lot more detial to come here.

They have court order telling GSPC to pay the ongoing calls for instance.?
Have they agreed a settlement if only on costs?
It does not say they have given up on the cash?
Maybe they have a buy in partner ready to go so funding the 55% purchase is easy.

Also in theory if they are the only offer in the 90 days SPC have to accept or fail the best endeavors test, as they agreed to sell not sell for greater than xxx.

What ever the outcome eventually it should free up Oilex in next 4 months finally and the company does seem good at raising money, they just need a good share price to raise it on now! lol

So what has happened to all the cash calls owed to Oilex?

This is great news the industry and funders still believe in Oilex BOD.

Oilex has set a clear signal it not for rolling over.

I am looking for north of 2p down the line, once GSPC is forced to give up.

"Top-Up Cash Consideration: If, before completion, the Company undertakes an equity raising in excess of A$1 million by an issue of shares at an issue price per share of less than the deemed price of A$0.003, then at completion, the Company must pay the vendor such cash consideration as is equal to the difference in value of the T1 and T2 shares at the deemed price calculated at the average issue price of the equity raising."

It is GPSC they are delaying everything, they take not responsibility and have the resources just to do nothing for a long time.

Mediation is really sllllooooowwwww ....

For ever buy there must be a sell....

The chair for the Arb panel has not been appointed yet.

I hope that is soon then they can take control, make a time table and move things along. .