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So at worst it seems we will have a conclusion by Christmas, hopefully before. Anyone know the value of the 55% stake owned by GSPC?
.........At this time, Oilex has been unable to commence the FDP programme as GSPC continues to obstruct any future joint drilling activities at Cambay, pursuant to the FDP or otherwise. Further updates will be provided as and when appropriate........... Why dont they just take them to arbitration??
Once we get the yoda results, and assume they are good, things will change quickly. I can’t see a partner onboard before the yoda results though as it would be too much risk for the partner. However on good yoda news, I think things and the sp will move quickly.
It is. Suppose the BOD cannot update us as they are in talks to to resolve the situation, pity its taking this long though.
I can’t see negotiations dragging on for another 3 to 6 months though. Something seriously wrong if it does. On the upside it could be sorted in the next month or two, with a funding partner onboard. Therefore no need for share dilution.
However it could be partner coming onboard though (and not a takeover), and with encouraging YODA results would be very positive news going forward. Everyone is speculating at the moment as to todays rise!
Difficult to say. Someone has either pumped money into it by buying a lot of shares with the intention of creating a frenzy and selling off at a higher share price, which would drop the share price back downafter selling off the large volume bought. Or, I hope, there may be a leak or some type of anticipation of something positive coming out very soon, in which case the share might go even higher. I do think (but it’s not fact) that it will come good anyway, but only time will tell.
Thing is though it plateaud before at £1.20 for a long time, so there is no guarantee it will fall back. I’m going to keep hold of mine, even if they do fall back a bit. That’s the risk I’ll have to take. My biggest fear would to be out of the shares when the news (assuming good) comes, the boat will be missed then as it will be near enough impossible to buy in with so little shares about and the potential to miss a multibagger.
So they have issued an rns stating that the Company doesn’t know of no operational or corporate reason for the increase. https://otp.tools.investis.com/clients/uk/faron/rns/regulatory-story.aspx?cid=2223&newsid=1259715
In the scheme of things, business wise, £3 million isn’t that much, so I can’t understand why it’s taking so long. I would hope they would partner before diluting the share price more. Align seems to suggest partnering as well. We’ll find out soon how trustworthy they are!!
So is Align way off the mark then?? Scenario One is the receipt of US$3 million and the current 45% interest. Over the coming months we believe that the problems within the ownership of the Cambay Field PSC could be resolved followed by the emergence of a new joint venture partner emerging to provide the funding for the planned drilled program, a move which is likely to involve a farm-in deal. We have estimated that as a result, Oilex’s interest in the PSC could be reduced from 45% to 30%. Scenario Two is gaining a 100% interest in the project. Once again, we believe that the stage is being set for the ushering of a new joint venture partner emerge which will likely provide the funding for the planned drill program through a farm-in deal. We have estimated that as a result, Oilex’s interest in the PSC may be reduced from 100% to say 70%. http://www.alignresearch.co.uk/oilex/oilex-update-stage-set-imminent-resolution-gspc-return-drilling-2019/