Member Info for gordon1237

Yes, Jasper. I admire both your bravery and incredible thoroughness in your research. However, I maintain that shareholders should not have to go to such lengths to be kept informed. For example why not a quick rns to say that clearance has been given and we'll tell you when it's official. Also, even though it's presumably out of their control, what thr hell with GOI approval, which they obviously expected many months ago. Anyway, no point in banging on anymore. Atb.

Jasper, I really admire your research, but do you really think we should have to go to those lengths to find out what's going on?

Jasper. I agree with all that you say, and I for one am not for a moment suggesting anything underhand.
The gripe is with the lack of rns communication from the company and in particular the lack of any explanation for delays. We certainly should not be having to make personal contact to find out what is going on.
I have emailed them this.
" This is a message for Roland Wessel or other appropriate bod members.

I don't imagine you have either the time or inclination to read an Oilex chat forum. However, if you did you would realise, that there is a general dissatisfaction with the lack of rns communication from the company.
We are told things are going to happen in some very vague time scale and often many months go by without anything further. For, example we were told 10 months ago on April 6th, that GOI approval was hoped for " In a favourable time frame", and several times after that " in the coming months". Finally, in early July, Roland said in an interview it would be the next 3 months or so. Since then precious little.
More recently, we were told that two old wells would, now that a court order had been lifted, and subject to environmental clearances, be restarting production. We have heard through other sources that clearance was given a week ago. We appreciate that the paperwork may not have been received yet, but subject to that, would it hurt to give an update, plus an approximate start date? Also, it would be nice if you could keep us informed of the dates of such meetings.
We all know, that things can be unexpectedly delayed, expecially due to Covid, but that is wearing a bit thin now. There seems to be a consistent pattern of delay after delay, with very little explanation as to what on earth is going on.

Yours respectfully

Gordon (full name)

( A shareholder for 7 years)

Yes, you'd think a sell, at that price and time. Never sure it matters that much as obviously it will be matched by buys.

Your memory must be better than mine Candi. Personally, I cant recall them ever telling us the dates of any meetings.

Also, why say shortly on 15th December when the clearance meeting was 6 weeks away. Again, why not tell us when such meetings are scheduled and what the expected timescales afterwards are. I mean they never even told us there was a court hearing to lift the injunction until after the event. Gla.

Not peddling anything Sausage, but fair enough I missed that bit, but why on 15th December couldnt they have said restart as soon as clearance us given on whatever date it was. 36 months shutdown or not, they've known for long enough it was coming to be able to turn on immediately. Atb.

I mean given how many months it's been you'd think they could have restarted as soon as the court order was lifted.

Presumably, there's either some other reason why they havent restarted. Either that, or as usual, they didnt have a clue as to how long something would take. Either way, surely it's not too much to hope for an update?

As I understand it, they don't even need this clearance to restart. The clearance was for expansion of the Cambay facilities not restarting old Wells.
In the rns of 15th December, re the lifting of the court order, they said production would start " shortly". That was 7 weeks ago. Nuff said. Gla.

Sausage. I think you'll find there's several posters on this very board, who've put far more than that into Oilex. Atb.

Surprised someone hasn't posted that 25p is possible. Lol.

the award for worst communication with shareholders goes to......... Oilex.
" Thank you, thank you. I'd just like to thank my mum, my dad, my next door neighbour, my fellow directors and most of all, those without whom my lifestyle wouldn't have been possible, the shareholders." Lol. Gla.

Revoy. We seem to keep going over the same ground here. Jasper did a detailed analysis of expected revenue a few days ago.
Before the refrac, the expected flow will not cover costs. We are relying on the refrac to prove the new methods and make a jv much more viable.

Candi. I never mentioned a raise. A farm out is by far the most likely route. Atb.

Been a while since anyone pulled my pants down. Lol.

Yes it shouldn't take two much to fire up the two wells again. However, they have said that the initial revenue will just cover costs and Jasper's analysis confirmed this.
The raising was for the refrac of 77h. Hopefully this will be the success we are all hoping for, but even if it is it won't produce anywhere enough to finance even the first new well, due in h2 this year.
What it will do, is enable them to get a good jv deal and finance the new wells that way. I'd be very surprised if yhey retained more than 50%. Can't wait to see how it pans out. Gla.

Lol.

Exactly. It might work with ftse 100 stocks, but with a company like Oilex where one rns can change everything, nah. Gla.

How anyone can take this stuff seriously id beyond me. Look at a graph, connect two isolated points, draw a line and extrapolate to give the result you were looking for in the first place. Lol.
Gla.