Member Info for dyl79

I can’t see oil going to $10 a barrel - why would Russia and Saudi Arabia allow that. Not in either of their interests.If a potential partner tries to lower their lower offer - depending as to how much it is - wouldn’t that be a great chance for Oilex to match that offer and try and get 100% of cambay? OK they’d need to raise some cash, but I’d rather them try that and look for a partner on their terms, rather than continuously waiting for other parties to do something, but continuing to burn through cash!

Difficult one really - only you can decide.

It is definitely a risky share at the moment with the general stock market falls and the possibility of the GSPC sale collapsing - doesn’t seem to be much faith in the sp at the moment.

But who knows in 2 months time, people may be returning to work, the worst of covid19 is over, and the sale of GSPC’s share of cambay may have, or is close to going through.

There must be some plan though. The potential new JV partner must be confident that Oilex will be an proactive partner - otherwise why would they sign up to a deal where they could loose money.

If I was the new JV partner, I would want to be confident that Oilex are in a position to fulfil their side of the drilling before I signed anything - it may mean Oilex giving up 15% or whatever to the new JV partner in return to them funding the first wells.

There is also the remaining cash calls, go after that, but ad a side to the drilling.

Unless I have missed something, I don’t think they have agreed to write off the outstanding cash call

“The Company notes that the settlement agreement with GSPC has not waived the unpaid cash calls and accordingly, the Company maintains its rights under the JOA.”

How they get it would be another matter though - legal costs and more time waiting for it to go through the courts.

I don’t want any more waiting and burning through money...,

If they can, maybe better to concentrate on getting some wells drilled and gas flowing!!

However as said, I din’t want to see Oilex drag on for another year without anything happening, except dilution and more loans. If that were to be I’d rather they sell their assets and reimburse, or at least partially reimburse the share holders and close down the company.

Crossed fingers the directors will come good, but no one has a crystal ball.

I’d like to believe at least £10 to £15 million, 3 - 5 x current sp.

That is puerly me speculating though, once we know the Cambay bid we will be in a better place. My average at the moment is 0.22p, so quietly confident of getting that back.

Before the virus I was more confident of .5 to 1p.

I read somewhere that the outstanding cash calls from GSPC were $5 ish million, will Oilex or go after that once GSPC have settled the sale and have cash?

I think the oil companies, especially established ones are good value at the moment. However I can’t see any recovery for a good few months.

All you can really do at the moment is just wait and see, whatever shares you hold.

I have shares in Shell, Reneuron and Oilex and they are all down. Don’t see any point in cashing them as it would be at quite a loss. However I have faith in Shell, Reneuron and generally Oilex to come good in the end. It may be after the summer before we start to see some stabilisation though.

Oilex has always been a bit risky, but I suppose they could always sell up their assets and reimburse the shareholders if it became bad. What we must not allow is continuous dilution and new loans to pay wages, when nothing is happening.

For any new investor, and you’d need to be brave, now imo is a very good time to get into the market in general, just avoid things that depend on tourism.

Just reading now that the outstanding cash calls is $5.6 million - what isn’t clear if Oilex is going to go after that money. I presume once GSPC sells its 55% they then have the money to pay back Oilex - not sure what appetite Oilex has to go after this though?

Market in general has collapsed at the moment - all my shares are down!

I’m in two minds whether to hold or sell on and buy some Shell or BP shares.

I’d guess they are either happy with the ‘preferred’ bidder or they will not match the bid received by GSPC, either are good options really for Oilex.

I personally cannot see the link between Coronavirus and Rene - it just seems shares in general falling at the moment.

Might look at buying shares in travel / airlines in the next month or so, trying to guess the bottom is hard though!

Near enough £10k again.

Someone had inside information, or is very hopeful!!

Common then, own up, who’s buying these £10k ish daily buys then?

Wish I had £10k daily to buy some up!!

There seems to be daily large, ie £10k ish, buy going through. Wonder if its the same person topping up or what?

1p is an mcap of what, £35million ish, imo its doable once things start happening. Thats my issue at the moment, nothing happening, just waiting and burning through cash.

But what happens if they strike gas and start getting revenue through that?

IMO the reason the share price is low is that there are too many unknowns, new partner? programme? cash burn without income at the moment? how will it be funded? Once these are solved the sp will be in a better place, imo.

Of course there is a risk that it goes tits up, but I think a lot if us are here as risk takers (and some longer term holders). If I wanted a safer bet I’d go and invest in something like the BA parent company for example.

Just topped up a bit today - would need something big to crash much lower. Roll on next rns!!

How do we reckon Oilex are going to fund any drilling then? Not sure I like the idea of them waiting for payments/cash owed by GSPC, whilst burning through day to day costs themselves.

Otherwise will it be more dilution?

Lots of what ifs at the moment - lets hope it turns out good in the next couple of months for us!!

The problem with the loan is that it doesn’t state what its for - paying staff wages? I can understand the reaction at the minute until we get sone positive partner news and actual plan for getting the gas out of Cambay.