Member Info for gordon1237

Sorry WTB. Cant agree. Everything just keeps getting pushed back. How many weeks is it now that production has been imminent? Refrac now pushed back at least 2 quarters. I think it was only last week when it was commented on that they hadn't procured the refrac equipment, it was said that it made sense not to have the kit sitting idle and Roland with his experience would have no trouble getting it quickly. Obviously, can't be avoided, but why are they always so utterly clueless as to how long anything is going to take?
Shan't be selling but expecting a substantial drop tomorrow. Atb.

So not only is the refrac not going to be in Q1, it is not even going to be in Q2. Probably no results until Q4. Plus lower flow rates than previously indicated.

What a bloody shambles. So much for Roland's experience meaning there would be no problem with equipment procurement.
You were right Shenners. Probably a big drop tomorrow.

Blimey. Even I'm not that pessimistic. Frustrating as the delays are, the restart is obviously going to happen. Very unlikely to see refrac results this quarter but no reason to think it wont happen.

Hi Conger. Knew I'd seen it somewhere that the cash calls had been finally settled in full. It ead in last years annual report on 22nd September 2021.
" During the financial year, the Joint Venture received US$0.364 million gross from GSPC against outstanding cash calls for Cambay. An additional payment of US$0.543 million has been paid by GSPC to Oilex on 4 September 2021 as settlement for all remaining unpaid cash calls. "
Atb.

Impossible to say Toptuf. Refrac good - Boom. Refrac bad - fizzle. Gla.

One thing I will give Joe credit for. He managed to keep Oilex alive when it looked as though all was lost. The miracle happened, we assume, because the preferred bidder pulled out leaving Oilex the only game in town. Atb.

Don't agree at all Conger. After Joe took over in 2016 for about 4 years in a row they lost an amount equivalent to cash calls each year. Would have done far better to write them off after a year or so. Pretty sure in a previous report they said in a previous report the cash calls had been settled in full. Atb.

I take your point oilman but some are so far down it's not worth selling and moving on. I was in the same position. At one point I was 80% down and expected to lose the lot but got the miracle I needed.

Good figures as always Jasper. One thing you seem to have forgotten is that it will be cyclic production between the two wells, initially at least. Probably irrelevant in the longer term if refrac successful. Atb.

That's a bit harsh oilman. No one buys a share thinking it's never going to be worth anything but many have bought Oilex at much higher prices and are just clinging on hoping it will come good. I was in the same position myself and got lucky last April. As for 0.4 by year end, that's nearly 100% profit from here. It may well do much better, but until the refrac results are in, we wont know. Atb.

Well they must be right, sooner or later. Lol. Atb.

Love you to be right Sos. Come on Roland, how about some bloody news. Gka.

Yes TWB. Just think of the position we could be in by now, if Joe hadn't wasted years chasing the elusive cash calls. Still that's water under the bridge and as oilman says we need to focus on the here and now. Personally, I don't see a massive boost from just production starting. High 0.2's maybe? If it were to go to say above 0.4, might bail out and possibly get back in before refrac results. Going to be fun finding out. Atb.

Jasper. Wouldn't that depend on what the flow rates were? Petsonally, I dont think it would matter too much if they were lower than expected. It is how much the refrac increases them to that is all important. I guess the market might overreact if they were low and give an opportunity. Atb.

It has been mooted before Deano. Atb.

Roses!! Buy Interflora!! Lol.

Camp 2.5 for me. Cant see it dragging on that long. Gla.

Ground control to Major Roland doesn't quite scan, but here's hoping. Gla.

uptick. What's occurring?