Member Info for dyl79

Just noticed a few £7k and £5k sells as well!

Yes one £27k, 2no £5k and one £7k buy today

Anyone know what this 350k loan is for?

Day to day costs? Surely it wouldn’t be enough for Cambay, even if you factor in GSPC cash calls and recent sells by Oilex?

Once we get to know the following, there is no reason imo for the shares not to be in the 1p/2p range..,,,

1) Value of the GSPC bid (assuming it isn’t £10/£20 million?)

2) Who the winning bidder is, experience and financial clout

3) Will GSPC use this money to settle debts with Oilex

4) Agreed programme going forward, drilling and hitting some gas!!

It’s good to know that there are bids and the sale is going through.

Next step now is to know the value of the bid, and also an agreed programme to proceed and drill some wells.

I think we just need to be patient whilst GSPC do what they do. The upscale on this could be very good.Align gave a 1 yr forecast of 1.6p, Walletinvestor a 1 yr forecast of 2.7p. Who knows whats around the corner!!

I then presume there will be enough revenue from those two wells to then fund the further wells?

There is quite a lot of what ifs at the moment thats probably keeping the sp down. Once the new partner is on board and the first two wells have been (successfully) drilled then I can see quite a change in the sp. Lets hope we get the two wells drilled in 2020.

The raise will come, just need to wait for details of the winning bid and programme from Oilex about drilling in 2020 with the new partner(s).

As far as we know at the moment there maybe no suitable bids?

The sp may speculate up over the next month. However the big rise will come, when (if) GSPC confirms the sale at a good price, which will value Oilex at more than now.

At least with no further extensions the sale will now happen early in the new year and we get some closure with GSPC.

It’s good that it hadn’t been extended - happy with that.

Didn’t expect much more news at the moment to be honest as GSPC now need to evaluate the bids.

Expect another rns in January!

What kind of detail are we expecting later then? Just an rns confirming how many bids and an indication of when the sale will go through? I suppose this will create quite a bit of speculation with the sp over the next few months.

I could be wrong, but I don’t expect the bid amounts to be disclosed.

If there is another extension it probably means a lack of or hesitant interest imo. Let’s hope there are no more extensions.

Depends if

(a) we get any bids in (hopefully)
(b) how many bids will be received and from whom... and what the rns will say following deadline for bids.

Align valuation - Optimistic or conservative?

http://www.alignresearch.co.uk/oilex/oilex-court-ruling-update/

I’d assume the will need time to look at the bids first. Wouldn’t surprise me if it took a couple of months for things to go through.

Nothing stopping Oilex releasing an RNS on the 21st or thereabouts saying X number of bids have been received etc without divulging confidential detail. That would surely send the sp of Oilex up.

In the other hand if there are no bids then.....

27 September RNS

Managing Director, Joe Salomon, said: "The process which will facilitate the recommencement of an active work programme at Cambay is now well underway. Considering the sale process, we believe we are approaching an exciting turning point with strong interest in the large gas resource at Cambay by a number of technically and financially capable companies.

I think the sooner the better GSPC are gone. I wonder if Oilex will get their money back though from them.

Anyone know when GSPC sell their stake will they pay back the £millions owned to Oilex, or has Oilex waived this amount? Otherwise I guess its a court case between the two?

The upshot is that Oilex gets a proactive partner onboard, without reducing their 45% hold, whilst getting a few million at the same time?

Yes I don’t think the presentation of the data was carried out well by Reneuron either.

Let’s see what happens after Woodford has sold.

It’s gone quiet on here- everyone sold and moved on or just waiting patiently? Dissapointed with such a drop in sp if I’m honest.