Member Info for gordon1237

Yes lah0re you were right. Strange thing is what was presumably the buy trade was showing up at 0.155 instead of 0.165 as in the rns, which is what made it look like a sell.

Lol.

Could in theory be a bed and ISA. Still doesn't add up for the other reasons given.

Shouldn't think so. B & B was banned for tax saving purposes in 1998. Need a 30 day gap between selling and buying for that to be allowed. Anyway the trades are too low for any to be buys. Some are negative which usually means a trade has been cancelled or is invalid, although some dont match exactly

Not sure Vf,but they said they were hoping for 2 mmscfd from 2 frac zones in the refrac and up to 5 mmscfd from the new wells, presumably from more zones.

Not multi tcf but still plenty enough to make us all a few bob, if all goes well.

They weren't fully aware of the problems with the geology until they drilled and fracced 76h and 77h. Hopefully, the new approach will give them the 3 to 5 mmscfd from the new wells they (and us) are hoping for.
The actual recoverable 2P resource is an estimated 206 bcf as given in this rns.
https://www.lse.co.uk/rns/OEX/cambay-reserves-re-classification-p8l4x6k8fxngek1.html

Guys. This was all in an rns in 2017. We have been waiting all this time to see it hopefully come to fruition.
https://www.lse.co.uk/rns/OEX/core-analysis-and-review-confirms-cambay-potential-0sg5kkj8eqrh43q.html

Maestro. Reinvested last year and added some more last week. Atb.

Maestro. The whole point about Cambay is that the Standard North American technology did not work very well, due to the different nature of the rocks. This was the reason for the dispute with gspc. Around $125 million invested jointly in the Cambay project with minimal return. This is why Oilex commissioned the Baker Hughes /Schlumberger report which suggested modified fraccing techniques. A bonus is that Schlumberger are doing the fraccing with an estimated 75% cos. Atb.

Maestro. Dont think we know that, not in any rns. If that had been the case they could have bid 2 years earlier, avoided a massive amount of cash burn and have been much further down the road by now. There was a lot of debate at the time about what first refusal meant. Hard to believe Oilex could get it for a pittance if the original candidate was offering a lot more. The assumption is they dropped out leaving a clear field for Oilex.
Anyway, it's all in the past. It's the future that matters.
On holiday, just had a cracking pub lunch and and sitting in the car on Dartmoor with a great view of Haytor. Blowing a gale and raining but still beautiful. Atb. Gla.

Conger. Think your memory is playing tricks. Oilex were not ordered to sell. In late 2018 they and gspc were ordered by a judge to go to arbitration over the cash calls dispute. They filed a case in the
Singapore arbitration Court but continued to negotiate among themselves. In September 2019 they announced an agreement that gspc would sell their Cambay share and both sides would drop all legal action. Gspc had already tried to sell it before in 2016. GSPC were supposed to complete the sale in 90 days. Around December 2019 they said they had identified a preferred bidder. We heard nothing by March 2020 when came the pandemic. All went quiet until February 2021 when we heard Oilex were trying to buy it, presumably because the preferred bidder had dropped out. Huge luck for Oilex sbd thus they find themselves the proud owner of 100% of Cambay.

Lol. On holiday tomorrow. South Devon and Dartmoor. Atb.

Wish they could have come up with something a bit more original. Just filled up with petrol (184.9!!!) and on the pump they were advertising Synergy oil products.

What's in a name?
" What's in a name? That which we call a rose,
By any other name would smell as sweet." (Romeo and Juliet)
Mind you old Bill Shakespeare had probably never heard of PR.
Gla.

If it's in August, that's 38 to 68 days until we know. Gla.

Bit surprised at the lack of posts. Only a few months ago an rns like that would have produced dozens of posts.

Soon be back over 3% Espen. Atb.

Results earlier than expected. Excellent news. Gla.

Jack. In the April Q and A, Roland answered the question thus.
"I estimate at a greater than 75% chance of success. If the re-frac is unsuccessful, we will have to review the future of Cambay – probably with a scaled-down field development."
Read what you will into scaled down. Hopefully, won't come to that. Atb.