Member Info for gordon1237

Hi Qs. Unusually balanced comments from you. I agree that its still possible it could go either way. I think Callum valued the Cambay asset based on the proven reserves at around 100 million. Some seem to think that means Oilex should be worth the same. Of course it doesn't. Even if the new drills are really successful it's going to cost a lot to get it out of the ground. Then there the problem of how much dilution by one means or another. As I said earlier, I don't think Cambay alone will get the sp into the several pennies range. They will probably need other successful acquisitions for that. Doubt if I will hang around long enough for that. Mind you, will I be able to let go? Lol
I reckon Oilex handled the cash call saga far worse than gspc. They wasted 4 or 5 years with that obsession and in that time lost far more than their value. They would have done far better to simply write them off. Gla.

Yes thanks, Callum. Still about half it's peak in January. Still think the deal where Brad off loaded the oz assets to Armour for peanuts and then followed them to become CEO had a nasty whiff to it. Atb.

I think it's unrealistic in the short term Steven. A year or two down the line who knows. If the results from the new wells are fantastic next year, Roland may invest in new projects which could grow the company further. It certainly sounds like his ambition. Let's just hope existing shareholders don't get short changed in the process. Not saying that's going to happen, but we both know from experience it has in the past with other sure things.
I think once we get GOI approval, it will be followed pretty quickly by jv or other finance arrangements. That will be the key to where the sp goes thus year. Atb. Gla.

Too right Steven.
"When no hope was left inside on that starry starry night......"

https://youtu.be/4wrNFDxCRzU

Chase. That was because your buy at 0.2295 was just fractionally below the nominal midpoint of 0.23. Atb.

Hi Steven. Details of the Irish Sea licence were given in the rns of 23rd December 2019. It was acquired for very little. No idea what the prospects are but wouldn't be surprised if Roland plans more acquisitions there. Atb

Looks like Roland only took the job on condition he could bring his own people with him. Wonder what's next. Atb.

Qs. I think every listed company had to have a CFO. It was Mark Bolton before. Atb.

Agree with that Jasper. In theory Republic are tens of millions down. In practice they've probably quids in.
Seems like Roland knows exactly where we are going with finance. Unfortunately nothings for nothing. Bound to be dilution in one form or another.
Hope you are feeling better. Atb. Gla.

Changing of the guard. Roland bringing in his own people. Interesting. Atb.

Sending this from the car looking at a beautiful view over the north york moors with a steam train chugging through the valley below. Just had a cracking lunch in a moorland pub. What more could one ask. Gla.

I'll take bloody scientist as a compliment. Lol. Atb.

Hi Conger. I think the local government gas already approved the deal. It Is the GOI we are waiting for.
As for finance it should be possible to open the field and restart the old Wells without further cash. However, I doubt it would be possible to raise the 5 to 6 million usd needed for the two new Wells other than through a jv. Atb.

Yes Quantum. When I first bought in January 2015 there were around 686 million shares. So about 8 times that now. Hoping it doesn't go much higher. The jv may obviate the need for further dilution. Atb.

Fair enough Steven. There were other historical innacuracies as well. Sending this from a pub on Flamborough Head. On holiday on the North York Moore. Atb.

Good stuff Callum. I am sure your figures are more reliable than some of the numbers bandied about. One thing I always wonder and probably can't be answered is, what % of the sales value will be profit? That, assuming the new stimulation techniques are successful, is what determines the ultimate value of Cambay. Could be fun finding out over the next year. Atb. Gla.

Sorry Steven. Yes it has been on here before. Armchair trader is a joke. " Drilling us expected to complete by the second Quarter". Lol. That woukd be by next Wednesday. Lol. With luck that might be by the end of this year or early next. Atb. Gla.

Mannan. If I had a tenner for every time I've heard that on this board, I wouldn't have needed to buy the shares. Lol. Gla.

Well that was a pleasant surprise. Held onto a nice rise. Will it be maintained tomorrow? Gla.

got around to listening to the interview with Roland. Very impressed with his cv and obviously got a good idea of where he wants to take Oilex.
The one thing that seemed to be missing was any mention of finance for the acquisitions he was talking about. After it has paid gspc Oilex will have little cash. I know borrowing is very cheap at the moment and Roland's reputation will make it easier to access funds. It would be great to have reliable cash flow coming in but at the cost of greatly increasing the debt butden? Don't really pretend to know much about finance, perhaps someone who does can elucidate? Atb.