Member Info for gordon1237

like a massive late buy from Friday. Gla.

Hadn't thought of that Vf. Just checked and it is about the only place in the whole report where they dont say whether it's Aus or Us dollars. Annoying. If that was the case it would obviously be a bit less painful, as that would be about £1.65 million. Guess we will find out soon. Atb.

Yes. 0.476 by end of June. Seemed a decent chance at the last raising. Now, who knows?

Yes, that makes quite a big difference. 3 million
usd is £2.22 million. 1.6 billion shares at 0.14p would raise that amount. That's a 28% increase. There does need to be a discount as that increase in shares automatically reduces the value of each share, which is what happened at the last, and previous raisings.
There is one difference this time in that we have prior warning of the raise. So you could argue that that the fall due to the increase in shares is already factored in, to some degree. Lets hope so. We really need some good news. Atb

Beat me to it Espen. No sooner posted than I realised it is dollars rather than pounds. Will recalculate. Atb.

Which means we desperately need some news, preferably GOI approval, to increase the sp and reduce the required dilution. Gla.

Agreed Espen. At the current sp dont think another 25% would be enough to raise £3 million. More like 40 %. Let's say the current 5.7 billion shares increases to a round 8 billion, which is just over 40%. So if we take today's sp of 0.18 and multiply by 5.7 divided by 8.0 that gives an sp after the raising of around 0.13.
2.3 billion shares at 0.13 comes to just over the required £3 million.,

Agreed Espen. At the current sp dont think another 25% would be enough to raise £3 million. More like 40 %. Let's say the current 5.7 billion shares increases to a round 8 billion, which is just over 40%. So if we take today's sp of 0.18 and multiply by 5.7 divided by 8.0 that gives an sp after thr raising of around 0.13.

Another day, another slide in the sp. Gla.
https://youtu.be/iUODdPpnxcA

Boredom. Lol.
https://youtu.be/eZj0ntmcuU0

Interesting. Wonder how the geology in that area of Rajasthan compares with Cambay. Gla

Been called a right breeder (or something similar) many times. A very long time ago. Lol.

I think the current drop is entirely due to the news about forthcoming substantial dilution in the quarterly report, and the lack of news on GOI approval. Prior to that it was holding well in the mid 0.2's and gradually creeping up. Obviously, agree about the longer term prospects for the oil and gas industry. There has been a massive shift in public and corporate opinion in the last few years. Going green is being more and more seen as an opportunity rather than a cost. Gla.

I would imagine the prospect of dilution coming soon is going to deter a lot from investing. We desperately need GOI approval before that happens. Gla.

I thought with the new management we might be kept better informed. It would seem not.
Agreed, if approval doesn't come before they need to raise, I dread to think where the sp will be after the raising.

I've already said Yuri. Bang on a few doors. For all we know, they may be doing just that, but for crying out loud, let us know.

Yuri. Do agree that with nothing happening with Cambay, we need to know what else we are getting for the cash burn.

Sorry, this is total nonsense. Of course they are not doing it on purpose. Gspc have wanted shot of Cambay for at least 5 years. They may be dissatisfied at the low price they eventually got, due to circumstances, but to a multi billion organisation like them this is a trivial matter. To suggest some sort of vendetta is bonkers. Dont forget that Gujarat state, for whom this is closer to home, had no problem approving the transfer.
No idea why something that we are told is a rubber stamp, is taking so long. Probably, just red-tape, on something that is important to us, but not to them. Oilex need to be banging on a few doors and geeing things up, and keeping us better informed.
BTW Qs. They are not bitter at losing the court case, because they did not lose it. The judge was neutral.
Gka

This is what they have said about GOI approval on various dates.
Rns on April 1st. " In a favourable time frame ".
Rns on April 30th. As above.
Rns on 10th June. " In the coming months".
Rns on 30th July. As above.
Rns on 28th October. As above.
Its obviously out of Oilex's hands, but you would think they might make some comment as to why its taking so long and what if anything they are doing to chase it up. Gla.

Agree absolutely Conger. Just to keep repeating " in the coming months" doesn't cut it.