Member Info for gordon1237

Yeah guys. Quite agree. Basically there's a lot of idiots out there. What is it with pasta too?

MrI/Yuri, really hope your elderly relatives will be OK. We are told most people will only get a mild version, so that is encouraging.
Personally feel torn between doing everything I can not to get it and hoping to get a mild version and get it over with. Atb.

Hi Yuri. Never actually done an online grocery order but will probably have to start. Surely it won't get to the point where that is impossible? Ite starting to feel like we are in some sort of dystopian film. As my old dad used to say "You have to laugh or else you'd cry".
Did manage to buy a 16 pack of toilet rolls in Sainsburys yesterday just as they were closing. Not hoarding, just needed them, as close to close to having to use newspaper. Lol.

Thanks Yuri, much appreciated.

MrI. With regards to the virus, pretty much agree. Got to say feel less confident than a day or two ago. In a typical flu season at least 500 people die of the flu in the UK. There was a bad one 11 years ago with 13,000 deaths. Worldwide it is around 500,000 typically. So far it is about 1% of that. After the events of the last few days, feel a bit less confident. Hard to say if the government is overreacting or not. Doesn't help to have a pm who one day says no need to ban large gatherings and the next day we here they are going to do just that. Only last week joked to someone in a text that as long as they don't close the pubs things will be all right. Not so funny now. Obviously we all need to take sensible precautions but the thought of not being able to go out for months is a nightmare. I am 71 and live with my sister who is 73. Going to be interesting.
As regards Oilex, if it is another year before drilling starts that will be around 3 million usd cash burn. The deal would have to be mega plus a chunk of the cash calls to make Oilex viable. Not impossible but unlikely. Atb.

VF. Thank you for your kind thoughts. Much appreciated.
As regards Oilex. I hate to have to say this but I feel we are screwed. It is now very unlikely we will see drilling this year, if ever. Given the cash burn can Oilex survive long enough to get that far? Don't know.
Obviously, the timing is awful and Oilex have no control over world events. However, we were grossly misled over how long this deal would take. I doubt it was deliberate just incompetence.
Like Yuri, I feel suckered. For a long time I felt I had less than 10% chance of getting my money back. Then the deal came in September and I really felt there was a chance. I quintupled my holding and got my average down to 0.325. Gave myself maybe a 60 % chance. Now it must be back to under 10%. Not only that but it it is far more to write off.
Chesh, surely even you cannot now see any reason for optimism?
May go to the pub today (no change there. Lol.) and drown my sorrows while I am still allowed out. Good wishes to all.

Plus even effing more if the effing options are ever exercised.

Another effing 7% dilution. Effing depressing on top of all the other effing depressing news at the moment.

Lol. Either that or Livin' on a Prayer.

Don't think the current delays are the fault of gspc. Just a matter of sorting out the red tape. In any case they gain nothing by holding it up. Doesn't mean it's not a pain in the a***e though. Obviously neither side knew what they were talking about saying it could be done in 90 days. Looks like being at least double.

Know how you feel Aldav. I first bought 5 years ago at 2. 5. The last year and a bit have averaged down to 0.325. Hoping that doesn't turn out to be good money after bad. Atb.

is getting bloody annoying. 10 trades indicated and only one listed.

Yuri you are referring to the independent study which recommended new techniques. They won't know how successful they are until they try it with the exploratory Wells. They offer made by the new jv will have been dependent on how they evaluate the risk/reward. Atb.

Of course 10% was sold for $3.8m in 2013 so that would not be far off your valuation Conger. However that was before anyone knew how difficult it was going to be to get gas out of the ground in commercial quantities.

Conger, that would equate to around $21m for gspc's 55%. If that was the case we really would see a big rise. Seems unlikely to me but here's hoping. Atb.

Agree Yuri. Wouldn't be that surprised if Oilex at some point sold up Cambay and used the proceeds to do something with the UK assets. A lot depends on the valuation. I would be over the moon with say $10m with maybe some of the cash calls thrown in. Much less and it all looks a bit iffy. Atb.

Agree completely Guod. Even if the bid had been a couple of million usd (hopefully far more) they would have really struggled to raise it. Gla.

That's the way I read it nmh. Not sure where people ard getting 2 months from. Hope not. Atb.

Which horse is that Conger? Nothing in the rns. Atb.

Conger, I sincerely hope its not another 2 months. We have already been seriously misled about the time scale. That would mean at least another $500k cash burn. Atb