Member Info for gordon1237

A couple of months ago I posted this.
Scrolling back through the news on this site and came across this.
Tue, 26th Nov 2013 09:43
LONDON (Alliance News) - Oilex Ltd. Tuesday said it has received the balance of USD3.8 million from Magna Energy Ltd. for the sale of a 10% interest in the Cambay Production Sharing Contract in India.
Might give some indication of potential value.

So 6 years ago somebody valued Cambay at $38m. Which would make Oilex's 45% worth about $17m. So if they did a farm in for say 15% that could raise about $5.7m leaving a value of over $11m.
No idea if the values would still be the same. Could be more, could be less. However, it probably shows that $100m (and $100k) are unrealistic.

While you're at it, can you please explain what has changed yho in less than 24 hours.

that 11 posts with strong sell attached. On a day with the sp up a bit. Might make some sense if you posted some rational comment. Otherwise seriously odd.

So far today, on this site, it is roughly 20 sells out of 34 trades. Lol.

It actually took it something like another 15 years to finally break 7000. The peak of 1999 is widely regarded as very false being created by ridiculous valuations placed on tech stocks many of which never made a penny. Atb.

Yes. Over the last four years or so, the ftse is up around 15% compared with over 50 % for the DOW. Atb.

That's right Woody and there was a bigger slump in the mid 70's when the index dropped by 70% over a longer period of a couple of years. The thing about these crashes is that they tend to happen unexpectedly when investors are at their most confident. The dot com bubble of the late 90's was a good example. I remember people saying what an easy way to make money, can't fail. In a matter of months it all came crashing down. There were winners of course but people lost a lot of money. Atb.

Woody, the definition of a bear market is a sustained drop in a main index such as the ftse 100 by 20% from a recent high. We are nowhere near that. With shares and indices a lot depends on your starting point. On 31/12/99 the ftse100 hit a high of 6931 almost 20 years on it is a miserable 4% higher at 7209. However if you started 10 years ago during the financial crisis you have an increase of 100%.
Anyway if good news came for Oilex I doubt what the ftse was doing would have any bearing. Atb.

Well it is up on nothing (that we know about) but why would I be in a panic ? I would be delighted if it stopped there.
Incidentally, Woody we are not in a bear market and even if we were Oilex is not the sort of share that is driven by the wider market. Gla.

I didn't say anything about anything being Oilex's fault. I think you've all made my point for me. If RIM had bought 1% you would have said fantastic news, the other way and it's brushed aside. It may well turn out not to matter it's just the tunnel vision that makes me laugh. Gla.

They sold another 1% a couple of weeks ago. As you say their last buy was at 0.19. This is a very small margin and utterly trivial compared to their total investment. Some time ago Yuri posted some figures which showed (from memory) that their average price paid was over 10p. Why would they sell now for small change ? No way of knowing if it means anything. We'll find out in due course.

This board cracks me up sometimes. A major shareholders reduces it's stake for the second time in a couple of weeks and nobody thinks it's worthy of comment. You can guarantee that if they had increased their holding there would have been loads of posts saying what a great vote of confidence. Lol.

Guess they'll be another quarterly report at month end so we'll see if the burn has been reduced. Atb.

Should have checked my previous calculations rather than relying on my crappy memory. The average burn between March and June was 290k USD not A$. Gla.

Nice one Yuri. Lol.

£50k is nothing. Even when nothing at all was happening they were burning an average of $190k a month.

The sp is almost exactly the level it was before Friday's pump and dump.

1p in 21 days ? Lol.

Devilbhoy is quite right. Doesn't mean he or I should sell out. No real reason for it to rise unless news drops. Probably won't hear anything on the 11th, that is just the closing date for bids.

Hopefully, tomorrow as well Woody. Shall be at Ascot races. Atb.