Member Info for gordon1237

Yuri. What makes you think Cooper and the Irish Sea will be farmed out ? I can't recall seeing that in any rns. Given the millions required to start up these projects I was assuming they would only proceed in the longer term if/when any money came in from Cambay.
Also didn't know bids for Bhandut closed in August. Surely if we've heard nothing that must mean there weren't any ? Atb.

Adam. They have stated the two wells will cost 2.5 to 3.0m USD each. So 45% would be 2.25 to 2.7m USD or 30% would be 1.5 to 1.8m USD. Also normal cash burn seems to be at least 0.25m USD a month. So we could assume over say the next 8 months they could need anything from 3.5 to 4.7m USD. So if they got all the cash calls that would cover it. Who knows what is actually in the deal ? I wonder if it is possible that a new partner could cover all the drilling costs for a period in exchange for an increased % ?
All this assumes that there is a viable deal. As usual we don't have a Scooby. Gla. Atb.

When the sp was 0.7 it was a purely binary situation. From memory it came to within half an hour of gspc failing to deposit. If that had happened it would have gone to well over 1p and the 0.7p would have been good value. As always seemed likely they came up with the cash and it was back to 0.3 in days so the 0.7 was crap value. All academic now.
Personally, can't imagine any short term news that will send us much above the mid 0.3's but that's just my opinion.
Hopefully, assuming there is a viable bid Oilex will get at least some of the cash owed. Even if that happens they will still probably need more cash. Quite likely farm out and reduce to say 30%. That would obviously mean only paying 30% of drilling costs so a double whammy. Gla.

Mike, agree 100% with all of that. Just couldn't understand where Adam was coming from. Gspc were never going to forfeit for such a piddling sum. Oilex had no choice but to come to a deal. Might not have survived to arbitration, with no guarantee of success. As it is, at least there is some sort of chance of it coming good. How good we won't know until we get that rns update. Atb.

Adam, unless I am misunderstanding something, you can't be serious with this statement.
"It went as far as 0.70 previously on anticipation of Gspc having to forfeit their %.
Imo once a bids confirmed it means we’re miles ahead of where we would have been given if the above had materialised."
Yes it did go to nearly that level when it was a possibility gspc might forfeit, but how can we possibly be miles ahead of that situation ? We would have got all of Cambay for nothing, been in sole control, be a year further ahead with drilling and wouldn't have spent a year burning cash with little to show for it.
In the immortal words of John McEnroe, "You can not be serious". Gla.

Passiton. They were not shares bought on the market in oz. They were options issued at a discount to raise cash. Atb.

Lol . Now where's my motorbike ! Atb.

This latest small dilution of around 3%, due to the exercise of options, brings the total over the last year to around 25% and the last 2 years to 50%, a doubling of shares in issue. I know that Oilex wouldn't have survived without raising the cash, but it does show the effect of the steady drip drip of these announcements. Gla

Correct Mike. They've forgotten the A before the first dollar sign. 60,150,375 shares at A$ 0.00266 comes to exactly A$ 160,000. An sp of A$ 0.00266 comes out at 0.14p. So it is good business for the option exerciser. Nobody would exercise above the current sp.

Yuri. If you look on Google and click on Max you can see that it was in fact once close to 80p. Looks like about 2007. No doubt people were buying at that price thinking it was good value.
At the end of the day (cliche alert) any share price is based on people evaluating available information and coming to a decision about value. In general the price comes to rest at a point where those who think it's over or under valued balance out. Obviously most on here think the latter, but none of us really know until we have more information. Gla.

I think we have already had enough dips I'm waiting for a decent rise. In fact "why are we waiting, why are we ..............." lol.

It was 125,000 shares. Bugger all in any currency. It's quite often zero. Gla.

Yuri, there's barely any buys or sells on asx. Volume of 125,000 last night. Atb.

A three way ? Yuri, your private life is not our concern. Lol.

Disappointing. Even I was expecting a rise to maybe 0.23-0.25. Incidentally, why do people keep saying things like, "It was 0.6 when Oilex where in a worse position than this". The only time it was at that level was in November 2018, during the court case. It looked like gspc might not deposit the cash in time and Oilex might get all of Cambay for nothing. That was obviously a much better position. When the cash was deposited it was back to 0.3 in days. Gla.

They are probably mostly accurate. You can see buys and sells seconds apart with at least 5% between them.

I'm with NMH, can't see more than mid 0.2s we don't know the shape of the deal yet. The Irish sea deal , although good (and cheap) is like oz another long term project and progress will be dependent on if/when revenues from Cambay start. Gla for the day and a half before the markets close for the break.

Gibberish. Are you p****d ?

Not extended. We just don't know the result yet.

Just googled it so I do now. Never heard that expression before. Hardly seems applicable to a company that is dual listed on aim.