Member Info for gordon1237

Bmdjf. The rns does not say the wells have restarted. In one place it says restarting is in the program for up to next March. Another bit says they are on standby for restarting, presumably when approval comes through. Atb.

Yes, back in April when the big news dropped they did 300 million. Gla.

If GOI news took it to 0.5 intra day, would probably cash out with a view to getting back in lower at a later date. Could of course get caught out, if news of a good jv followed soon after. If so, what the heck, its all a game in the Aim betting shop/casino. Gla

So that's why you are a multi millionaire. Lol.

Sincerely hope you are right about that valuation Conger. Would be great. No point in arguing the toss about what is factored in or not. The sp when news drops is all that matters. Atb.

Oh well, if you are not going to be serious. Lol.
One actual indication of some sort of valuation is from a long time ago, 2013 to be precise, when Oilex sold a 10% share to Magna Energy for 3.8 million usd. This of course gives 38 million for 100 %. You could argue that with inflation etc it will now be a lot more. It was also before the difficulties encountered with 77h, which we hope will be overcome with the new techniques. So who knows what a jv will value it at. We certainly know gspc didn't think it was worth that much. Atb.

Bmdjf. So, that would be 50 million for what % of Cambay? Dollars or pounds? Personally, I would think if someone offered that for 100%, they would snatch their arms off and use the cash to develop other projects. Anyway, hopefully we'll find out before I'm too old to care. Lol. Atb.

Yes hannay, it could well be that the gradual drop was due to the long wait and some doubting it would ever happen. Sentiment does seem to have improved in the last few weeks. Atb.,

Hi Conger. Got to say that since everyone is in agreement that GOI approval is just a formality, it's hard to see why that announcement, by itself would produce much of a rise. Surely, if its a formality, its already factored in? Having said that, past experience had shown that on the day, its possible for it to get hyped far above what is justified by the news. After all look what happened in April. Peaked at 0.5 ish and fell away to 0.3 by the end of the day. Guess I'm contradicting myself, but truth is none of us really know what will happen.
Why 4 weeks? Given that it has taken way longer than originally anticipated, might be tomorrow, might be months.
I also, originally thought news of a jv would follow hot on the heels of GOI approval, but now that drilling of the new Wells won't be until the second half next year, maybe that's less certain. If the two things did happen together who knows what could be hit on the day. Atb. Gla.

Soon. Sooner. Soonest. Lol.

Thanks bmdjf. This is what it says.
" In anticipation of the Government of India's (GoI) ratification of the Acquisition, the Company is advancing the various steps needed to recommence production from two wells (C-73 and C-77H); a further update will follow soon."
Pretty vague and obviously no guarantees, but that was a month ago. Depends on your definition of soon, I guess. Lol.
Don't get me wrong, it will happen at some point, but the truth is none of us knows and I obviously Oilex don't really have a scooby either. Atb.

Bmdjf. I can't recall any rns that said soon. When was that please. Atb.

Yes Toptuf, depending on your starting point news of GOI ratification is either very late or slightly late.
On 1st April in an rns they said " The GoI has been kept appropriately informed at all stages of discussions with the aim of securing approvals for the PI transfer in a favourable time frame."
On the 10th of July in his Sharetrade interview Roland said "In the next three months or so". Hopefully, can't be too much longer.
On the plus side, it's got to be good news that, in the absence of news, the sp has held at this higher level for several weeks. Gla.

Rumour has it. Lol. Gla.
https://youtu.be/C1G3jmtoOfk

It has now been at or above 0.22 since 28th September. Surely, must mean something? Gla.

For some reason, every time I post the link, it changes it from London to Sydney. You can change it from Sydney to London using the drop down with the flags. Gla.

Something wrong with my phone. Wrong again. Will try again later.

Sorry, this is the right link. That was asx.
https://uk.investing.com/equities/oilex-ltd

is better as the prices are live.
https://uk.investing.com/equities/oilex-ltd
The % changes can be slightly misleading as it compares the last trade yesterday with the latest trade today. Atb.

"" When the facts change, I change my mind. What do you do sir? ". John Maynard Keynes. Gla.