Member Info for gordon1237

Zzzzzzzzzzzzzzzzz.

I also bought Unilever as I thought it was safe with nice regular dividends. Thst was last May at 4289. What a crock of s**t.

Spot on Toptuf.

Hi guod. It depends what you mean by impediment. I have no reason to doubt Jasper when he says he has been told that the restarting of the two wells and the refraccing of 77h can go ahead, if necessary, before GOI approval. Of course, if for some reason that approval didn't happen, it would be pretty disastrous. It's hard to imagine that happening, but this has dragged on for such a ludicrous length of time, it makes you wonder what the hell is going on.
I don't now think a jv rns will follow immediately after the GOI. The will probably wait for the results of the refraccing using the new techniques. Assuming success, they would then be able to get a much better jv deal. Bearing thst in mind, I think it's impossible to predict the sp if approval dropped now. Atb. Gla.

So 100 million traded. Wtf was that all about. Lol.

Hmm. Looks like the rise has fizzled out. I doubt they are doing nothing, but on the other hand it's hard to believe it's that much either. As Jasper has pointed out, the lack of GOI approval doesnt stop them from restarting production and refraccing but it is still ridiculous how long it is taking.
It is completely impossible to calculate a meaningful NAV, as that is entirely dependent on the success, or otherwise, of the improved fraccing technology. If they stick to the timetable (big if) and refrack by the end of the quarter that will surely be the make or break time. Gla.

Yes Billy, seems odd that they communicate with some but not others. I suspect they dont have a clue about timescales. Always been the same, even under the previous management. Makes you wonder what Roland is actually doing with his time. Anyway, let's hope 53 million traded so far, means something. Gka.

Yeah. Feels like a bleedin' century. Lol.

Yes Oilex's shares are worth around £180 k at the current price. At one point they were worth 3 times as much but their ability to sell was restricted.

Just found a couple of reports where it says production can restart following environmental clearance, so I guess I've answered my own question. Gla.

Presumably that was what the court order referred to in the rns of 15th December was about? Personally, I wasn't aware that there was a court order prohibiting restart of production. Couldn't find any reference to it being imposed on any previous rns. I mean, the wells were shut in sone years ago, not because of any legal requirements, but due to the flow rates dwindling to a very low level. Gla.

Same to you Steven. Can't remember ever logging on to this site. Maybe that's because I look at it most days. Atb.

Thanks for the clarification Jasper. Makes one wonder why we are all so concerned about the wait for GOI approval. The market obviously thinks it matters. Any news on why approval didn't happen " on or around the 15th December" as indicated to you by to you by the management.
Not sure what you mean by permit approval. Is that a reference to the environmental clearance? Atb.

not as frustrating as not knowing.

I suppose the point is that if Oilex expected it to be rubber stamped much much quicker than this, whats the problem? Surely they must have asked the appropriate officials why it's taking so long? If the answer comes back that there is no problem and they just haven't got to it, that would be frustrating, but as frustrating as not knowing. Either way they should be enquiring and let us know. Atb.

Lol.

The point is, it is now 9 months since they said " in a favourable time frame, 7 months since they first said in the coming months, and 6 months since Roland said " the next 3 months or so". It seems they have been totally clueless about how long it would take. They told us it was a formality, which it should be given that it is Oilex who have been the operators of this field for many years and that the Gujarat state ratified the transfer almost immediately. So at the very least we are due some sort of explanation for this interminable delay. Gla.

Nah Toptuf, it was the doors not the roof. Lol. Atb.
https://youtu.be/8g_GeQR8fJo

drlong. The real spread is actually a lot less. Currently 0.171 to buy and 0.1577 to sell. So more like 8%. Atb.

Dont think so Towzer. No need to wait, they would get the new shares at the agreed price regardless of the actual sp at the time. Atb.