Member Info for gordon1237

Seems to me a bit of a worry that they are even talking to other bidders.
Couldn't be much worse for me investing wise as I have a huge chunk in Lloyds which have more than halved in value with dividends cancelled.
Could obviously be a lot worse in other ways. Could be in hospital like some other poor souls fighting for breath. Atb.

Fair enough Callum. Not exactly encouraging though.

Agreed Conger but why?

Only just noticed this depressing bit in the announcement rns. "We note that the reported loss in the Audited 2020 Annual Report has increased from $4.5 million to $5.8 million in the Consolidated Statement of Profit or Loss and Other Comprehensive Income reflecting a $1.3m impairment provision for the Cambay Development Assets". Typical Oilex not to give any explanation as to why the valuation of Cambay had been reduced. Theories anyone?.

got excited sering 5 rns's drop. Nothing to see here. Lol.

Based on what happened in July I haven't a clue Mark. You may have noticed that I am usually pessimistic about Oilex. However even I, when the Kampar news dropped thought we would see a decent uplift. Instead there was zero reaction and a gradual drift down since. That obviously means there is a consensus view that in the short to medium term this isn't a game changer. Of course the consensus could be wrong. Let's hope so.
Like everything with Oilex there is always the ever present phrase "subject to finance". Atb.

No administratively complete is not new, they said the same on 27th July. They've also been saying plans for drilling two Wells on Cambay are well advanced every quarter since September 2018.

290k per month.

By my calculation the total cash burn over the quarter is about 285k usd or 95k per month. Up from last quarter but still substantially less than the circa 290k this time last year. Atb.

Due tomorrow.

Apparently Brad is giving masterclasses in "How to feather your nest in three easy steps".
1. Acquire a promising asset for your current employer.
2. Flog said asset for a song to a third party.
3. Make it a condition of the sale that you get the job of ceo for said third party.
Easy peasy jobs a goodun.
LOL.

I knew I could rely on you for the expected response Qs. I think I have thrown far too much into this money pit lol.

How bloody depressing is it that you can now buy at 0.065! I'll wait for the predictable response. Lol.

I thought it was you Qs, as you're always saying how great Oilex are doing. Lol.
It definitely says 50/50. Whether they get awarded that or have to divi up is unclear. Atb.

Got to Say, when the Kampar rns broke, I thought it would give a decent boost to the sp. Instead it had no effect and the decline continued. Unfortunately, can only mean that the consensus view is that its not really got legs in the short term. Atb.

Qs. I've read the original rns several times and as usual it's as clear as mud. In places it reads as though Oilex might be awarded an interest as a result of previous events. Elsewhere it talks about proposed bids and offers. It dies say if it goes ahead it will be on a 50/50 basis with the proposed partner. On past evidence I wouldn't think anything is likely to happen quickly. Then there is the usual caveat "subject to finance".
It would be nice to think something could happen quickly to get Oilex out of the c**p. Probably more likely that at some point down the line Kampar will go the same way as the Australian assets to raise a bit of cash. Atb.

Where there's life there's hope J. If this drags on too long into next year there will inevitably be more dilution. Some cash has come in but there are loans to be repaid, one at the end of this month. Atb.

Or
"All of life is 6 to 5 against".
Damon Runyon

"There are are many here among us, who feel that life is but a joke".
Bob Dylan. All along the watchtower.

Of course in a year they could be worth twice as much or half as much.