RE: CURRENCY18 Feb 2021 07:28
Thanks Span. I do remember your comments. All sounded very plausible in light of events previous and more recently.
As for your comments yesterday re flow rates and today re reserves that is more or less what l have been saying in more general terms but without your grasp of the numbers. You obviously learnt a lot when you were "in". I did say previously that 77h never really produced enough to make it worthwhile. I guess it may contribute something to overheads, otherwise presumably they wouldn't bother. If you look at the website 77h sounds like an unqualified success whereas in reality it cost a fortune and was the reason for the falling out with gspc. If Oilex had simply written of the cash calls 3 or 4 years ago they would been far better off and much further down the line. As you say we know the reserves are there. The valuations that some are putting on seem to based on the assumption that they are as good as money in the bank. For that to be true the new techniques recommended by Baker Hughes need to be an unqualified success. They could be, and I really, really hope they are. It will be some way down the line before we know. Probably next year at the earliest. Presumably whoever is backing Oilex is willing to take the gamble. We do know that ongc think that fracking has no future in Cambay due to the different geology to North America. Perfectly possible they could be wrong, but again we just don't know.
Suely, whoever is taking the gamble is going to want a big chunk of Oilex in return that will result in dilution in one form or another.
Having said all that my big hope is that if enough people believe, there will be that huge uplift and I will be able to get my money back and maybe make a bit. Thought it very unlikely a few weeks ago.
No doubt, I will be accused of deramping yet again and being unconsructive in dissing other people's views. Far from it. As a proportion of my assets I have more at stake here than others with much bigger holdings and desperately want it to do well. I was actually quite stunned to be accused of contributing nothing to the board as I have always tried to give reasoned arguments for my views. As for being told to "get the hell out" for having a different opinion, words fail me.
Felt that after recent events and comments I had to get that off my chest. I don't suppose anyone will believe it as I haven't stuck to it in the past but I will shut up now unless there are developments. Thank gawd for that I hear a chorus. Lol.
Good luck to Oilex and all who sail in her.
Sign In
Follow the stocks
