Member Info for gordon1237

TWB. Buying to sell on, is exactly what they did with the Australian assets. A bit different though, with Cambay, given the years and effort put in to secure it.
Also, Joe did try to jump ship before when they originally tried to sell the oz assets to Doriemus. He is moving to a non exec role at Oilex. Atb.

I strongly expect this development will move things along a lot quicker than expected. I am guessing that shortly after the rns for GOI approval we will find out thd direction Oilex is taking. Whole range of possibilities from keeping a majority interest in Cambay, maybe just keeping a smaller interest but still being the operator, or divesting the lot. Probably other possibilities we haven't thought of.
Conger, can see why you and Callum might be miffed as your focus as always been on Cambay Development. Personally I find it quite a fun turn of events,but then I don't have as much at stake as you guys.
Surprised, you know who hadn't been on claiming he knew this was going to happen. Gla.

Also thought the following comment by Joe might be significant.
"During the next few months, we will determine the Company's optimal participation level in the project and re-commence operational activities. Over the past few years, we have continued to review additional projects while also continuing to progress our UK assets." Another hint?

Yes agreed. There is very little chance of getting all of the contingent resource,but the point is what would somebody pay for the asset now, when no one knows how much can be got out at commercial flow rates? Not by any means certain anything will happen but if it does, maybe they will wait until next year when a firmer valuation can be made. Anyway, no point in endless speculation. Gla.

Have actually thought for some time that it was not completely impossible that they would get out of India in the longer term to concentrate on the uk. I thought they hinted at it when they first decided to dispose of the Australian assets 18 months ago. They made a comment about it being appropriate as most of the shareholders were in Europe. Not saying it is likely but wouldn't rule it out completely in the medium term.
Pysblore. Are you having a laugh? A billion? When Oilex bought 55% for 2.2 million? Even if we assume the true value is 25 million that values 100% at 45 million. Whatever it is why would they only get 10% when they own it all?
All only speculation and may never happen but food for thought. Gla.

Very interesting. Sounds like a shift in the longer term to more emphasis on the uk.

Hi Mitch. Bit harsh. Don't think Vforvendetta aka Callum was complaining about what others post. Just saying he isn't influenced by it. At the end of the day we all stand or fall on our own judgement here. Atb. Gla.

Fair enough Callum. You are obviously backing your own judgement. I guess that sort of price might make more of the contingent resource commercially viable? Then again, I wonder how long it will be maintained? What will it be by the time we know the flow rates of the new Wells which may not be until early next year.
Keep saying I won't post so much, but never seem to be able to stick to it. Lol. Atb.

Qs. Just seen 2918. Lol. Let's hope we don't wait that long. That'd what happenes typing on a phone.
Bluehope. Yes, we now have 100%,but obviously we won't still have that after we take on the jv.
Gla.

That's right Qs. The judge told them to go to arb in November 2918 as he couldn't decide who was in the right. The case was listed in the Singapore arbration Court but was eventually withdrawn after they reached an agreement after 10 months in September 2919. So the %, increase depends on your starting point. In December 2018 it was 2.5 billion and I'm September 2019 it was was 3.2 billion. So that's 120% or 75%. All pretty irrelevant now I guess. Atb.

Hi Quantum. When you say pre arb, I assume you mean after the court case in November 2018 and pre the negotiations with gspc, since arb never actually happened. The increase since then is a bit more than a third. The number of shares then was 2.5 billion, against soon to be 5.6 billion when Tranche 2 is complete. That's a 120% increase. Atb.

Don't understand your stance on lth's zag. I, against all expectations made a relatively modest profit which I have reinvested at a lower price. The likes of Conger, Callum and others have made much bigger profits and reinvested. Of others who post on here the vast majority are positive or at least hopeful. Atb.

Conger. No not surprising at all. Everyone was expecting the sale to complete, so nothing had changed. No doubt the same will happen when the GOI approval comes through. Hopefully be some genuine movement when jv details come through. Gla

Pysblore. Those figures are an estimate of course. They aren't changed by the Baker Hughes study which was about increasing the flow rates to commercial levels not the total amount. As I say those numbers are still a good amount.

Fair enough Steven. Hope springs eternal and all that.
Jack. Also fair enough. The options will dilute by about a further 10%.
Gla.

Should be 0, 93 and 170

Not exactly. Thus definition from the Society of Petroleum Engineers, "Contingent Resources are those quantities of petroleum which are estimated, on a given date, to be potentially recoverable from known accumulations, but which are not currently considered to be commercially recoverable."
So most of that probably won't be commercially recoverable. Don't pretend to be an expert but I thought some of it might be if prices go up. If you look on the website it gives numbers for 1P,2P and 3P resources from 2015. These numbers mean proved, probable and possible and are given as 0, 83 and 170 bcf. The 2P number is probably the most realistic and the one Callum used in his recent calculation. Gla.

if all goes well

Thanks TWB. I expect someone will say this is negative, but I don't think so. The near trillion cubic feet that Joe talked about is a contingent resource. Contingent means recoverable in theory but not commercially recoverable. Joe actually said contingent in his first share talk interview. I know Callum agrees about this and in a recent post made a calculation based on the 3C figures from the website, which are about a tenth of this. This is still a huge amount and should give a decent uplift and all goes will when the new Wells are drilled. If prices continue to rise a part of the contingent resource could become commmetial I guess. Probably no one really knows until drilling results gone through. Wonder when we will find out more about the jv and what % Oilex will retain? Atb. Gla.

Yes Jack. Of course those who might take up the options will hope for as high a price as possible. However I woukd imagine they would still take them if they were only marginally above the 0.476. Why wouldn't they make even a small profit if they could? Its essentially money for nothing. Whatever the price when they take them up, depending on the situation, they might well keep them.
Here's hoping it gets to that price. Most previous options linked either to loans or raisings have not been taken up, due to the sp going the wrong way. Different situation now that we know things are happening. Gla.