Member Info for gordon1237

Wasn't going to post for a while Targ but thanks for that. Exactly what we thought but nice to have it confirmed. Don't suppose it'll stop certain people posting nonsense though. Atb.

MrI. You got me there. Lol. We are all giving uninformed opinion really. Wouldn't mind betting there are scenarios none of us have thought of. Chesh. For some reason you insist on misinterpreting first refusal when the real meaning had been discussed on here many times.
Meanwhile, this time I really am going to stop speculating until something happens. Atb. Gla.

MI. Speculation is all a bit pointless really, but I guess it's hard to resist. Personally I would think a bid of say $5m and no cash calls would be a disaster.
Firstly, what does it tell us if no one is willing to risk more than that? It would value Oilex's share at about $4m. Secondly how would Oilex finance theie share of the drilling. If they could farm out and reduce to say 30% that might raise about $1.5m. Might just about be enough as 30% of drilling costs would be about 1.5 to 1.8m. All a bit touch and go. I am really hoping the bid is more than that and even say half the cash will be a huge bonus.
Still feel this is about a 50/50 play. No point in further guessing. Be surprised if we don't know by the end of Feb. Gla.

Yes VF it did occur to me that Oilex could act as a front for a bidder under the first refusal scenario and get their preferred partner that way. Presumably they would then pass it on and maybe retain a few %. Not sure that would be allowed? Who knows?

Fair enough Yuri, but Jester said 100% of Cambay. Can't see how it is possible. Actually agree that if it was a good deal that pushed it above 0.3 there would then probably be a slow decline while we waited for drilling results. Might be possible to bail out with a view to getting back in later at a lower sp.
So Jester, how do you see it happening.? Atb.

Jester/Yuri. In what circumstances do you see us getting 100 %? Unless the preferred bid is ridiculously low, we just don't have the cash to match it. Not being sarcastic, genuinely interested to know your thoughts. Atb.

Good grief Chesh. Beadle is right. You never give any constructive reasoning for your views, just **** off anyway who does. You never even give an opinion as to how you see this panning out. I am staggered that you can't see the importance of the sale price. Atb.

Chesh, what are you on? Can't believe you're serious. The amount gspc sell for is of paramount importance as that directly values Oilex's share and governs how much cash they would raise if there was a farm out. The cash calls neglible? Can't be sure we'll get anything but that certainly ain't true.
All the best (whatever you're on, I don't want any).

Talking of Cambay. Which is what we should be doing rather than bandying insults about. Couldn't believe it the other day Chesh when you said the value of the sale was of no consequence to us. It is pretty much the most important factor in the current situation. Followed by whether they get any of the owed cash. Atb.

Chesh. Are you going to invite us to your party when you reach 20,000 posts? Has the Guinness Book of records been contacted! Lol.

Fair enough. Personally, I would be over the moon if we saw 0.5 this year. Doesn't feel likely though. Gla.

I wonder too Yuri. Dare I suggest you aren't sounding as confident? Atb.

I opened a book once. War and peace. Gave it up after a couple of pages. Lol.
Pity the third rns was only repeating what we knew. Still, on we stagger. Atb.

What's the chances of making it a hat trick of rns's tomorrow?

Doubt they would farm out the Irish Chesh. Otherwise why did they create a company Oilex East Irish Sea Ltd?

Focus on East Irish Sea?
Probably not likely.
Certainly not impossible.
Gla.

I am assuming Doriemus are not a new company and already have directors. Anyway, why Joe? Hasn't he got enough to do? Makes you think.
Also interesting is the remark about Oilex's dominant European shareholder base. India is also a fair way away. Gla.

A bit odd that as well as Brad Lingo moving to Doriemus, Joe is also becoming a director. Why? Let's hope he doesn't also jump ship. Gla.

Yes Mr I, pretty much agree with all of that. Circumstances have changed and I am sure that they want to get rid of what they regard as a thorn in their side. Whilst they obviously want to get the best price they can, with debts in the billions, it's not going to make a massive difference to them if they get 5 or 25 million. Atb.

True enough buci. Not sure it makes much difference though. It always likely to be renewed and any new players would need to be approved by the Indian authorities. Doesn't invalidate my point that they weren't desparate to hold onto it. Gla.