Member Info for gordon1237

Macho man. If only! Unfortunately, if your figures.were remotely near the mark, the whole history of Oilex would have been very different. 77h would have made a fortune, there would have been no dispute with gspc, loads more Wells would have been drilled and lth's would be quids in. Atb. Gla.

Hope so Kievsky. Nothing would surprise me any more dramatic drop, stupendous rise, no change. Gla.

Canning Basin. Lol. Where do they find these people. Lol.

VF. The last paragraph gives a good indication of just how much finance is going to be needed. Atb.

Certainly seems a good adage span. Twice this week could have made substantial gains by selling high and buying back lower at the end of the day. Didn't have the bottle though. Atb.

Ps. You are right it did go much higher during the court case. To the high 0.7's if memory serves. That was when it looked like gspc might not deposit the cash with the court in time and Oilex would get 100% for nothing. There were half the number of shares then.

Hi Qs. Previously I might have said, why on earth would it reach that level before news? However if the events of this week have taught me anything it's that there's no point in expecting the sp to behave logically. After all, at one point yesterday it was up 50% based on rumours of a document that turned out to contain precisely nothing we didn't know before. Or there could have been another leak as well I suppose.
In 50 years as a scientist, everything had to be based on hard facts. Anything else was anathema.
This is the polar opposite, unsubstantiated rumour can produce a dramatic change. Although, I stand by all my previous comments I now feel that it is not impossible I could pass my break even, whatever the deal (within reason). In short, I think I will just keep my fingers crossed and enjoy the ride. Gla. Atb.

Fair enough, 1.85 or 18. 5 does sound better.

Would love to think you are right Conger.
Span. What would be the point of consolidation, other than a less ridiculous share price? Say a tenth of the number of shares at ten times the price. So, that would be 400 million shares at 1.85p at today's price for example. Atb.

ended the day

Guess time will tell span. Does seem a bit of a stretch that gspc would undervalue an asset by that much. But then the reserves in the tender document were much lower than expected.
So at the end of the day with much toing and froing and being led down a blind alley we gonidj the day 25% up. I think we would have accepted that at the start of the day. Gla.

The crux of the case was whether gspc were justified in withholding the cash. They claimed the amounts spent were unauthorised. The judge couldn't decide and said go to arb. This link shows how hacked off gspc were. You'd think it would have been possible to decide on the basis of the original contract.
https://www.livemint.com/Companies/tcNs2RUmfqs6lFGC5HxhUP/Cambay-oil-field-faces-closure-as-GSPCOilex-joint-venture-t.html

That would be great Conger. The money can't be in the account as all legal proceedings were dropped by both sides.

Yes Conger, I remember posting that the tender document specifically said their were no debts associated with the sale. Seemed odd when Oilex said they would engage with news partners to recover. Irrelevant now I guess.

Well I managed to keep quiet for 2 days. Lol. Still I did say I'd post if something happened. Beginning to look like nothing did after all. Hey ho.

Mind you that would mean the preferred bidder valued it far greater than gspc's write off value. As always we wait. Lol.

If that's right and Oilex get it for much less that would be a great result Conger. Atb.

Anyways. Great news the sp is holding up so well. Perhaps we'll hear something Monday.

Sorry Sam. That's the exact opposite of the truth. Gspc wanted rid of Cambay at all costs. Fortunately for Oilex. They first tried to sell in 2016 and agreed in black and white to sell it in Sept 2019. Atb.

Well yes smiley Oilex's usually takes 6 months. Even if we stretch that to 9 months that 6 weeks ago. You'd think it would have a date on it somewhere. Can't see one. No point in quibbling over when it came to light.
At the risk of being accused of whining again, we have had it in black and white that gspc want shot of Cambay since September 2019. It was part of the agreement between Oilex, gspc and GOI when legal proceedings were dropped. Surely we can agree that nowhere in this document does it say Cambay is worth 55 million usd as Yuri claims. Hard to believe that today's rise is just a ramp based on this document. Must surly be something else and perhaps we'll find out soon. Whatever the reason, let's hope for onwards and upwards. Gla.