Member Info for gordon1237

Hi Espen. Guess there are any number of candidates. Would still like to know the reason behind the subbing out. Can't be cost, as whoever does it will hope to make profit out of it. Can't be time as we are talking nine months hence. Can't be expertise as Oilex (hopefully) have acquired that and nobody has successfully fracked this type of geology before. Interesting. Atb.

Thanks Aaron. Interesting. That could make more sense. Atb.

JR. Don't see any reason why it would rise next week, in the absence of any further news. Past recent history tells us that the sp tends to peak in one to two hours after an rns. Especially when, as on this occasion, it sinks in that the rns is telling us little that is new, plus further delays on the new Wells. The one thing that might give another boost is if Roland did what Joe did on April 6th, and give an upbeat interview. Thus could give a second bite of the cherry. I would expect the asx market tonight to simply rise to match our price.
One thing I would really like the answer to, is the thinking behind subbing the management of the new wells to a third party. On the face of it, this would seem more costly. All I can think of is they think it will be quicker than recruiting new staff, but then again they have nine months if not drilling until h2 next year. Thoughts anyone. Gla.

Why is Twatter full of ill informed idiots? Lol.

After the purchase there will be about 1 million usd left. A fair bit will have been spent in the last few months. Certainly won't be enough to last until next June.

Whatever JonesRichard is on. I'll have some. LOL.

Lol.

Sorry, meant to address that to Mrmolla. Atb.

Fair enough Jasper. Let's hope so. Don't get me wrong, I am still hopeful in the longer term. Its just at the moment it seems like the same old Oilex, with delay after delay. Completely baffled as to why people were so excited about today's non news. Atb.

Only just seen the rns, as been out of touch in Cornwall all afternoon after a cracking pub lunch. Can't believe it's gone up 25 % on either neutral or negative news. Agree with you there Espen.
We already knew they were restarting the two Wells, so nothing new there. A positive is the workover on 77h, which hopefully will improve the flow rate.
A real negative is they are not even drilling the new Wells until the second half next year. What the hell are they going to be doing until then? I remember getting a lot of stick back in April when I said drilling wouldn't start until very late this year or early next year. Lol.
Finally, we are told we are abandoning the Irish Sea licence, which many thought would make a lot of cash in the future.
If I had been in the loop today, might have done a Conger and got out near the peak. Well done by the way Conger.
Let's hope there's more news coming soon about Roland's master plan, which will give us a boost. In the absence of that, the sp will drift down again. Gla.

Hi Jasper. There's actually been a full FDP in existence for at least 3 years. It was produced in 2018 when the PSC with gspc was renewed for 10 years. Sounds like Roland is perhaps deviating from Joe's plans. It will be ridiculous, If its not oven ready, together with a jv deal as soon as GOI approval comes through.
As for restarting the two old Wells, it should provide a bit of useful cash flow, especially with the increase in gas prices. I think they said that flow rates should be greater than before, due to pressure build up, with having been shut in for years. Of course the cash will be nowhere near enough to finance the new Wells. They still need a really good jv. Atb. Gla.

Thanks Jasper. All good. Was still feeling baffled about the need for a well management contractor. Then I remembered something Joe said about needing to recruit a lot of people to replace those who had left during the pandemic shut down. So maybe this is a quicker way to fill that personnel shortfall. Atb.

Bmdjif. That trade of 9 million shares at 0.1819 was reported nearly two hours late. During that time the share price (mid point) dropped from 0.185 to 0.175. Therefore when it was reported it was above the mid point (0.175) and was recorded as a buy. However at the time of execution it was below the then mid point (0.185) and was therefore almost certainly a sell. In that context the drop on the day makes sense. Atb.

Alan. Ouch! As my old mum used to say, " You have to laugh or else you'd cry". Atb.

One share that I did sell far too early was ARM. Bought at around 70p and saw it double fairly quickly. Then seemed to be going nowhere for about a year so I was delighted to sell for 100% profit. Then watched in agony over the next few years as it went to about £16 before being taken private. Still makes me wince every time I think about it. Could have bought a house with the proceeds. Still can't go through life pondering on might have beens. Gla.

That's fair enough guys, there are obviously occasions when impatience makes you sell too early. However, the opposite can also be true. A reluctance to sell can also cost one dear. I remember having shares in Marconi many years ago at around a fiver. Then came a profit warning and they halved in days. Remember thinking, its a solid company they are bound to recover. Over the next year or so they halved repeatedly until they were worth a few pence. They were eventually taken over by the banks. Lost about 10k. That was ftse 100 company. I guess the moral is every situation is different and nothing is ever 100 % certain. Atb. Gla.

Sounds fantastic QS. Never been to Scotland. Ironic when you consider my love of malt. Atb.

Hi Espen. I would have thought if anyone merited a reply it would be you with a 3% holding. Atb.

Hi QS. I am fine thanks. Hope you are also. For the first time in my life I am having two holidays this year. A week in Cornwall starting Saturday. Lots of nice pub lunches and great scenery. Atb.

Hi Vf. I strongly suspect you are just trying to start a debate, which is fair enough. As I am sure you know, it is impossible to give a meaningful prediction for q1. There are just too many unkowns.
We don't know how quickly GOI approval and jv details will come through. We don't know the all important terms of the jv. We don't know how quickly ordering and delivery of the kit for drilling will take. Probably a good few months, as they used to talk about ordering long lead items. We don't know how long it will be before we see drilling results. Most of all we don't know how successful those results will be. There are other factors that might give a boost in the interim, such as restarting the two old Wells, to give a bit of cash flow, or the announcement of new projects.
Love to be proved wrong but personally can't imagine any circumstances that would give us 2p by q1. Atb. Gla.