Member Info for gordon1237

Love to think you are right about the 20m Conger. Seems unlikely but who knows? Here's hoping. What it does show is what a great deal the sale to Armour was. For Armour that is (and Brad) Their sp had almost trebled in the last couple of months whilst Oilex still languishes near all time lows. Says it all really. I suppose that there may be other reasons for the rise in Armour. If not it implies that the Australian assets were drastically undervalued.
Don't get me wrong, Oilex had little choice but to raise some cash, even if they can't get it for a year.
Atb.

Not sure I see your point Callum.
Armour sp is 5.5 cents. So 22 million shares is 1.21 million aus dollars or 895,000 usd or 654,000 gbp.
Market cap is as you say £3 million. So the Armour shares are worth 22% of the market cap. Atb.

Well done Conger. Got it right eventually. Lol.

Just realised I said good luck Callum when I meant Conger.

Qs. It all depends on what you mean by not a hope in hell and also what time scale you are talking about. I can't imagine what news would send it above 0.3 in one hit. As I said I would give that a 5 to 10% chance. Longer term could be different but at my age there is a limit as to how long I can wait. Atb.

Why on earth did this site raise the ask to 0.08 on Friday when it is actually around 0.0685 (just checked). Not only did this give the impression that the sp had gone up, it makes buys show up as sells. Atb.

Well done Callum. Nowadays, I only hold this and Lloyds and am more like 40% down. If I had any spare cash (which I don't) there are plenty of bargain basement shares I would have bought. I have very little other assets and am getting sick of being told to average down. I have done that multiple times always with the same terrible results. They do say one definiton of madness is to keep doing the same thing and expecting a different result. A bit like getting married multiple times.
I don't think it is impossible for this to come good and for it to get back to my average of 0.325,just unlikely. To put it in racing terms, probably a 10 or 20 to 1 shot. Gla. Atb.

That's exactly what you said Qs but let's not quibble it's where we are now that matters and that's deep in the brown stuff.

Quantum, whatever you're on I'll have some. Lol. On a point of information it most certainly did not slip below 0.24 because of the pandemic. It was 0.13 in July 2019 and below 0.10 in March this year before the pandemic took hold. Atb.

Five times bitten, ten times shy. Lol.

Just done a dummy buy. Actually only 0.0685 to buy. Atb.

Nothing to lose by trying I guess. Atb.

Doubt they would be allowed to tell you anything Callum.

Yes. 22 million shares at 4.6 aussie cents comes out at about £557k. Pity they can't get at it until next October. Atb.

Oilex has been doing a great impersonation of Monty Python's dead parrot.
"This parrot is no more! He has ceased to be! 'E's expired and gone to meet 'is maker! 'E's a stiff! Bereft of life, 'e rests in peace! If you hadn't nailed 'im to the perch 'e'd be pushing up the daisies! 'Is metabolic processes are now 'istory! 'E's off the twig! 'E's kicked the bucket, 'e's shuffled off 'is mortal coil, run down the curtain and joined the bleedin' choir invisible!! THIS IS AN EX-PARROT!!"
Lovl. Atb.

Crash team to Oilex. Lol.

Thanks conger. Seemed familiar. Think someone must have posted a link at the time. Really just saying what was in the rns. Atb.

"This site can't be reached".

Thanks for your thoughts Callum. Personally, I had always assumed that the valuation of Oilex's 45% would be pro-rata based on what gspc get for their 55%. I assume that if they are to get any of the cash calls it might be dependent on what gspc get. If it was only say a few million usd it's hard to see Oilex getting much out of it. Of course we have no way of knowing it was agreed they would get anything from gspc. Otherwise why did they say they would engage with all parties including new partners to recover the cash?
Oilex's share of the cost of drilling two Wells is going to be around $2.5 million. If the valuation is high enough they might be able flog a percentage and raise it that way. Or maybe flog the other assets. Doubt if that is likely to happen quickly though. They could even flog Cambay and concentrate on the Irish Sea or Kampar. A whole catalogue of uncertainty none of which offers an easy path to profitable cash flow which is the reason for the abysmal sp.
If news of completion dropped tomorrow I am sure we would see a decent uplift but very unlikely to get me into profit. Atb

Callum. Yesterday you said "I'm still a believer and hope the cambay sale will unlock the funding we need for the very exciting projects in oilexs current portfolio ." I am interested to know how you see the Cambay sale unlocking funding for the other projects. Atb.