Member Info for gordon1237

nit nurse

Fair enough Qs. Also wasn't trying to nit pick.
Interesting expression. I guess I am the only one old enough to remember the nut nurse at school. Lol.

Apologies, just realised it wasn't you posting about Cairn, this time. Atb.

I've always regarded you as our chief researcher Callum. Not too sure about your obsession with Cairn though. Lol. Atb.

Lol.

Steven. Had to smile at you thanking Quantum for his " Research". He was merely quoting from the rns which you could have read in detail on this site. No offence Quantum, I am sure you were just trying to be helpful. Atb.

Hi Steven. I don't know anything about the othet companies you mention but it sounds like the rises there were due to speculation that drilling might produce a jackpot. Maybe Oilex is a bit different in that we know the gas is there and it's a matter of how much can be commercially exploited. Really, we are all just hoping the new drilling techniques are successful. Atb.

Nice one. Always good to get an expert view. Be interesting to see how the market sees it on the day. Atb.

Conger. Sounds like you know more about accountancy than me, so I'll take your word for it. Just seems odd that you sell part of an asset, use the proceeds to prove the value of the asset, but still retain the value on the books. If that the case it might take it to more like 0.5 and with a bit of hype on the day?

We can hope that the track record of Roland and the new CFO might mean a better deal than would otherwise be the case.

Not trying to be

Conger. With respect, you can't add the 13. 5 million as that woukd be used to drill and cover other costs. At the moment the Irish Sea is worth what we paid for it, a couple of hundred k. Could be worth a lot in the future, but will require millions to develop. Indonesia could be great, but who knows when/if that will happen. Not t eh Yong to be deliberately downbeat bit I still go back to drilling results being the key.
Do agree though that overrun when news drops could take us higher. If that happens I might do what I did last time and sell and maybe come back later. Atb.

Of course, I suppose it's possible that Roland may have something up his sleeve that will surprise us all. Hope so.

Yes Conger. Agree that it was a bargain. More than anything else that was due to the preferred bidder pulling out because of the pandemic. A huge slice of luck for Oilex. The crux of the matter is what a potential jv values Cambay at. I think you previously said that gspc's 55% share was expected to fetch 25 million usd. Will that still be the same? Impossible to say. If that was still the case it would value Cambay at around 45 million usd. If they gave up say 30% that would raise 13.5 million,more than enough to drill and cover other costs for say the next year. That would value the remaining 70% at about 30 million usd or 21 million gbp which equates to about 0.38p per share. Pretty good, but not really multiples and that depends on an optimistic valuation, or am I missing something. I expect you will say I am being pessimistic as usual, but my gut feeling is that any big rise may depend on the drilling results. Atb. Gla.

Agree guys. They couldn't possibly get enough cash for the drilling, general cash burn (which will now likely increase back to previous levels) and maybe other new projects via a raising. So that surly must mean a jv. The question is how much they give up to get it? A really good deal should give an increase in sp. Not sure about multiples though. I think for that to happen would need spectacular results from the new Wells. Atb.

Sorry Hannay. Yes of course I meant the current Wells. That podt made no sense.

Qs. I can remember a time 3 or 4 years ago when absolutely nothing was happening and there were weeks berween posts on this board. I remember posting " Is there anybody there?". I think there was an echo. Lol.

Ncar. Of course, the question is what % of Cambay will the other company want on return. There is no way the new Wells will provide the 5 to 6 million usd required for the new Wells.

They don't have much cash to do anything with anything. That's the crux of the whole thing. Finance. Atb.

Qs. Pay attention. I answered that at 11.53. It was the Australian assets they sold. They still have the Irish Sea. Atb.