Member Info for gordon1237

If anyone is interested this is the offending article.
https://www.thearmchairtrader.com/oilex-ltd-shares-can-cambay-field-potential-transform-the-company/
That was published six weeks ago, so is even less realistic now.
Hopefully there will be news this week about completion of the second Tranche of the raising which will be a good indication they are still on schedule. Then they still have a month to get GOI approval and complete the sale. No reason as of yet to think they won't achieve the timetable they actually gave. Atb.

I believe these idiots actually said drilling would complete in Q2. That's 5 weeks! Lol. Do people actually get paid for writing nonsense? Obviously, we all want as rapid progress as possible but realistically they would do well to start drilling in Q4. Gla.

Hi Widglide. I too am surprised by how far the sp has dropped. Based on past experience, I am usually pessimistic about Oilex. However, as of now, they haven't missed any deadlines. They said that they expected finalisation of the sale and future funding to be complete by end of Q2. That is still 5 weeks to go. They did say that Tranche 2 shares should be issued by end of May, so only have a few days to meet that. Atb.

Steven this is an eye blink compared to some of the waits of the past. Lol. For example, after the court case in November 2018 we were told Oilex was negotiating with gspc and a settlement was expected early in the new year. Finally happened on September 2019. Not suggesting for a moment we are in for anything like that now. They still have 5 weeks to the end of Q2 to complete the sale and get GOI approval. They did say the second Tranche of shares should be complete by late May which only gives them until the end of the week. Gla.

Could buy 2 million at 0.229 on Barclays. With the current mid point at 0.23 that would come out as a sell. Not a fiddle by the mm's just the daft system. Atb.

" This time next week, Rodney". Lol.

Thanks Jasper. Yes, same sort of ballpark. Atb.

Hi Jack. Yes it's a lot more than that I'm afraid. I'm sure I saw on the website once, although I can't see it now, that each new well was in the range 2.5 to 3.0 million usd. This why they will need a jv. Atb.

Especially as its only a few grand and Oilex does now have the cash to pay them.

Got excited for a minute. Just shares in lieu of directors fees. Probably a good sign. Gla.

Wouldn't be the biggest surprise to see GOI approval, sale completion and jv news, all in one rns. Now that would be exciting. Gla.

Agreed TWB. Always thought it would drift down in the absence of news but not so far as this. Wasn't really sure whether I would get back in, but couldn't resist at the price. As you say nothing has changed. They haven't missed any deadlines and have 41 days until the end of Q2. My ambitions are more modest than most. Woukd be happy to see 0.5 but as always will play it according to news.

Couldn't make that up. Sounds like like something out of a Monty Python sketch. The ministry of silly b******s. Atb.

Could be Callum. They shouldn't need to sell short term as they have 543k usd coming from cash calls. Probably trivial anyway compared to what they need to get from the jv. Gla.

Quite shocking how much Armour shares have declined. They were 6.3 cents at one point, 5.0 when Oilex sold 5 million and now 2.8 cents. This values Oilex's remaining 17 million shares at 476,000 aus dollars or 262,000 gbp. Atb.

A huge gamble zag but the best of luck anyway. Atb.

Leave it out Wolfie. All in the past now. Atb.

Dunno Steven. So back up works quite well. Lol.

Callum. Yes it was funny. Not sure how he can accuse me of skulduggery, unless he meant to say "my". Anyway, water under the bridge. Forgotten.
Gla. Atb.

Looking forward to the ride. Would be happy to double my punt from here. Should be fun whatever.
Yuri. Very good. Might think about forgetting your previous skullduggery. Lol.