Member Info for gordon1237

Hi Jasper. Doesn't the wording of the statement from the latest report which I quoted, imply that the new techniques are or cannot be trialled on the old Wells? I was hoping they would be, as if successful it would be a great demonstration for potential jv's. Surely they would have a big play of it on the report if they really expected that sort of increase. Hoping that might be thd intention in the workover, but who knows. Atb.

Maqsood. It's not me saying that. It's the companies most recent statement on the subject.
Your quotes are from many years ago when things looked much more promising. Flow rates gradually declined which is why the Wells were shut in a couple of years ago. As I said its a great demonstration of possibilities which should give us a good boost but its the new Wells which ate the real test of where we go on the longer term. Atb.

Yes Callum. All to the good. Atb.

Hi Maqsood. Of course its great that they are aiming to restart production from the two old Wells, but this is only expected to provide a relatively small contribution to cash flow.
This from thd last report.
" Oilex expects to obtain a new environmental clearance from the Ministry of Environment and Forest and Cabinet Committee to supersede the clearances already obtained under the previous regulatory requirements, which will allow the small scale gas production to re-commence from the existing C-73 and C-77H wells. While production rates are small, the proceeds pay for field costs."
77h was in fact an unmitigated disaster, cost 30 million usd, for very little return, and was the reason for the fall out with gspc and all that followed.
I believe that it is expected that due to the long shut in, the pressure build up will result in improved flow rates. That, coupled with the increase in gas prices will make the restart much more profitable than would have otherwise been the case. Also, it should be great PR, demonstrating that Oilex are producers again. It would be interesting to know if the workover of 77h,next year incudes the possibility of a trial of the new techniques.
Overall, I think the announcement of production restart may give a decent boost to the sp. Atb.

Hi Conger. I have held Lloyd's since 2004 when I first bought at 660p (£6.60). They have been beset by one disaster after another,but hopefully will do well from here. Currently have an average of 52p. A special dividend ia a possibility. Atb.

Also thanks Conger. I will certainly give RR some thought.
A few months ago, I thought perhaps I should put done cash into something solid, with regular dividends and no risk. I picked Unilever. Jeez, what a bloody boring choice that was. Nothing ever seems to happen. I've had a couple of small dividends, it's down 5% and there's almost no posts on it's board. Thinking of selling at a loss and putting it elsewhere. Gla.

Hi Mailgirl. Thanks for your comments. A couple of things there I hadn't considered. Much appreciated. Atb.

Does anyone have an opinion on Asos? They are down from about £51 to £31 in 3 months mostly on Covid related issues. Seems overdone. Tempted. Atb.

Ah. Been there. Done that, and bought the t shirt.
Lol.

Yuri. Have you finally lost the plot?That post incomprehensible. Lol.

Percy. Read my post at 09.41 where I gave a summary of my history here. I have been back in for months. Atb.

What are you on about Percy? I don't want it to drift. I already have as much as I want, at the moment. I would be delighted if it went up. I don't believe I have mentioned cash burn or dilution for yonks, but since you insist. Cash burn is always a fact of life and further dilution may or may not be necessary with Roland at the helm. Gla.

Got to say I'm pleasantly surprised at the small drop today. Maybe it means news is still on the way.
Hi Callum. Don't know if you watch " Pointless" but your other alias " V for Vendetta" was a pointless answer in the final round the other day.
The category was John Hurt films. Atb.

Thanks Espen. Don't think I would quite go that far. I regard Callum as our researcher in chief, although I am usually less optimistic than him
Percy. I can't possibly advise you on whether to get in or stay out. Not sure what I have said recently that shines a bad light on Oilex.
I first bought into Oilex in 2015 at 2.5p. I averaged down over the years and by late 2019 had 6.6 million shares at an average of 0.32. All of that time it seemed good times were just around the corner. By late 2020 they were down to 0.06 and I was 90% sure I had lost my cash. Then out of the blue came the news that Oilex had got lucky. The preferred buyer of gspc's share had dropped out and Oilex were getting it on the cheap. On April 6th, against all expectations I was able to get our with a profit at 0.407. I have since got back in with 5 million at an average of 0.22 or if I deduct my previous profit from the cost, an average of 0.10.
My current position is that yes I believe I can make a further profit from here, but I am not in the camp that says this can suddenly go to multiple pence. Don't see how that can happen until the new Wells are drilled in about a year. Even then it is very dependent on the success of the new techniques. If course Roland's new projects may give a boost before then. Hope so.
I have come to realise that on any day, news can give a boost far in excess of what is justified by the facts. Thus gives an opportunity to get out with a profit and then back in later at a lower price, as Conger did recently. I certainly don't believe that anything I or anyone else sayd on here influences the price one way or the other.
Atb. Gla

Davethedumplin. Great name. Don't get in a stew mate. Lol. Gla.

Also no rns. So what was yesterday's rise all about? Wasn't even much ramping going on. Wonder how much we will drop? Gla.

Naff all interest in oz overnight with a piddly 400,000 shares traded. Gla.

0.2385 to buy on Barclays. Gla.

Now 0.245 to buy. Gla.

Up 10%, 0.228 to buy on Barclays. Hmmm.
Gla.