Member Info for gordon1237

Looks like Aaron the "insider" has gone into hiding. Lol.

Fair enough Qs. We all have to make our own decisions as to how we balance perceived risk against actually living a life. I did feel slightly nervous the first few times I went shopping in March. Still wear a mask but don't really think about it now. No real queues any time of day now. The latest figure I saw said that one person in 1600 now has the virus.
Think I would have gone nuts if I hadn't been able to walk in the Surrey hills and more recently back to the South Downs. This Saturday would have been at the Derby for the 52nd consecutive year, instead of which will be at the National Trust Claremont Gardens. Atb.

Qs. The new drilling techniques were advised after a study carried out if I remember right by Baker Hughes/Schlumberger. This was due, I think to the more elastic nature of the strata in Cambay, which makes the rocks more difficult to fracture. Nobody knows if it will work until it is tried.
If your dad has no conditions and it is just his age that is the concern then there is no particular reason for him to stay indoors, either now or indeed previously. Obviously, sensible precautions need to be taken, wearing masks, hand washing, social distancing etc etc. Shielding only ever really applied to those classified as "extremely vulnerable" according to Gov. Uk. At the start of lockdown I went on that site to see if I qualified by being 71. There was a long list of conditions you had to have, of which (thankfully) I had none, so I didn't qualify. This made it impossible to get a supermarket delivery slot, so I had to go out to get groceries at least once a week. Admittedly, I only tried Sainsburys. Really, it was only ever advice to the over 70s to be extra cautious, not compulsory.
Have also been going to country walks twice a week throughout. Didn't encounter many people and managed to avoid those I did. More recently been going out with my sister to National Trust gardens which have reopened. You need to book and numbers are limited. Pubs reopen on Saturday but will avoid for a while yet. Atb.

VF. Just noticed it says Bhandut payment of £114k due early July. Hopefully, stave off further dilution for a few weeks. Atb.

Hi Qs. I would imagine the big backers, such as Republic think that having invested many millions in Oilex they might as well chuck in a few tens of thousands or maybe a 100k more if it keeps them afloat long enough to drill. Presumably they have been informed by Oilex of the expected partner and shape of the deal. If they get that far it all depends on whether the new drilling techniques work which is by no means certain. They obviously think it is worth the gamble with a small amount of money compared with what they are already in for. In the case of Republic it made me laugh when it was announced that their holding had gone up by a few % and people were saying they wouldn't do that if they weren't really confident, when the increase was just due to the previous raising to keep Oilex afloat. Of course, when there was an rns saying they had reduced their holding to lower than it was before, nobody commented.
As always, I reiterate that it is not impossible that it could all ultimately come good, just feels less likely as time goes by, with continued dilution. So much depends on the nature of the deal and the size of the spike when we know. Obviously anyone in at the low 0.1s has a much better chance of a profit than me at 0.325 or others probably much higher. When that spoke comes, I may or may not bail out, for a loss or a profit, depending on how things look. I could be on here moaning for years. Lol.
Sorry to hear about your dad. Presumably he must have health issues if he has to continue to stay indoors. It would drive me mad. Atb. Gla.

Thanks VF. I didn't think you were trying to catch me out. My crappy memory let me down again. I guess it will be a while before they see the cash anyway which probably means more cash will be needed unless the long awaited rns puts us out of our misery. I am fine hope you are the same. Atb.

Got me there VF, had forgotten that bit that's another £70k. So about 4 weeks then. Atb.

Fair enough Qs we will just have to agree to differ. Don't believe that positivity or negativity on here makes a blind bit of difference to the share price.
Also don't believe anyone on here knows any more than the rest of us or that Oilex know anything they are not telling us or gspc. That would amount to fraud on both gspc and shareholders past, present and future. Also how would it be in gspc's interests to force Oilex into administration. Even though this is small beer to them, they must want this out of the way. Atb.

VF. Not sure where you get £160k from. Payment for Bhandut is $140k or about £114k. There is no cash from Cooper. The average cash burn for the second half of last year, based on data from quarterly reports, was $290k per month or about £235k. I imagine it must be a bit lower now with Joe on a reduced salary and maybe other savings. Let's guess optimistically about £40k a week. So it is about 3 weeks burn tops.

Wolf, I think we can tell even you're opinion has shifted, as even the insults now seem half hearted.
VF. Obviously that cash when it comes through is welcome but it is a few weeks cash burn. Actually it is so long since we first heard about that sale, I had assumed it had already happened. Atb.

Qs. I don't want to be rude, because you and I are largely on the same wavelength but your post is pretty incomprehensible. What on earth is wrong with stating an indisputable fact that the sp had gone up, a little bit on no news. We were expecting the Oilex acquisition in Cooper to go through, and in turn being sold to Armour in exchange for a few shares. Surely it's up to potential future shareholders to make up their own mind on the facts not on anything written on here? Indeed you could argue that you are doing them a favour by pointing out to the naive that today's news is no news.
As for you Wolf, you never seem to learn. The doubters, including Beadle have consistently been proved right and you have been proved wrong. So who does that make a plum? Before you say I include myself a plum for turning positive last September and drastically increasing my holding. Now looks likely that was a huge mistake. Atb.

in one day. The excitement is certainly building. Not!

Don't blame you for cutting and running MI. Not many believers left. Not so long ago it was 90% optimistic, now the reverse. I really regret last September, after being in the pessimistic camp for so long, switching when the settlement news came through. As a result I vastly increased my holding and am now sitting on a 67% loss, into 5 figures. Feel quite angry with myself for probably throwing good money after bad. Before someone says it, no its not impossible it could cone good, just unlikely. As you implied, it would help a dire situation if we had a board who were more upfront.
No doubt the next rns will be about further dilution. Gla.

The delay goes on. As usual with Oilex no news is bad news.

Yes David, the one thing you can rely on with Oilex is if they give a time scale it wiil be a lot longer. Even if the deal came through now and they got all the cash calls (very unlikely) it will be less than the cash flushed down the toilet over the last 20 odd months.
I have an average of 0.325 so a double bagger would get me my money back. Like you I'm not holding my breath.

Rip it up and start again!
https://youtu.be/ETAOp2yiMc0

I feel for you DL. I've had five years and that's more than enough. For all of that time, the transformation has been just around the corner.

Australia has suffered much less than most countries. 102 deaths from a population of 25 million.

I doubt that would be legally possible Yuri. You would have to demonstrate that the bod had been grossly incompetent and/or living the life of Riley at the company's expense. Hmmmm.

Well that would only be 4 times what we were originally told. Not bad by Oilex's standards!