Member Info for gordon1237

Thought one rns said second or third quarter. Can't find it though. Or maybe that's been updated since? I think the real boost to the sp will only come if/when there is an rns saying the exploratory wells are successful.

Quite a lot depends on the terms of the sale. I am hoping it was written into the deal with gspc that the new owners would pay Oilex at least some of the owed cash. Nothing is certain. Either way there will probably be a farm in with Oilex sacrificing a chunk of Cambay for some working capital. Given that it will the best part of a year before the drills start turning there will be a lot of cash burn by then. Also, these are exploratory wells. Hopefully the new techniques will be successful but it is not guaranteed. Atb.

Although I have always said I just want to get my money back, if we did ever reach say 0.5, I might not necessarily sell up. It would be foolish not to assess the situation at that time and then decide at that time.
I am actually more hopeful than for some time but there are an awful lot of hurdles to cross to achieve that 0.5. Gla.

Surely there must come a point when you have had enough of topping up ? Too many eggs in one basket and other assorted cliches. I am in Surrey. Atb.

I was tempted and my average is now 0.40. I think that any more now would be madness. Mind you I was saying that a month or two ago and yet here I am again. Lol.

Yuri, not everyone wants or has the funds to keep continuously topping up. I think most are just waiting for that s**t or bust moment when all is revealed. Gla. Atb.

Callum. 31 and 8 zeros is 3.1 billion. Atb.

How about, "The only way is up" (Yaz) or better yet "Stairway to Heaven" (Led Zep). Gla.

Targ. In July the Series A loan was extended to 1st October. It was only today it was further extended to 15th October. That is in the asx rns but for some reason not on here. The Series B loan is extended to April. Atb.

Probably, because they had very little cash and the money from the raising isn't instant. I don't know about awash with cash. Hopefully, the Cambay settlement and probably a farm in will bring in a fair bit but there will be a hell of a lot of outgoings for all the projects. Atb.

Make it a couple of pints and an all day breakfast. Lol.

Plus a bit. Lol.

Thanks Targ. Funnily enough I did get a grade 1 at O level English 1966 (lol), of which precis was a part. Atb.

Hi Sharon, not a lot has changed. Mostly summarising what we already knew. Except.
Two loans that were due today have been postponed to 15th Oct and 1st April. The period for the UK exclusivity agreement has been extended. Atb.

the sp is solid. Thought perhaps the uncertainty over the Irish Sea deal might cause a drift down. Maybe it is just box ticking. Gla.

Strange that on here there is only one rns postponing a loan but 2 on asx.

Fair enough, but why are they bothered about that particular rule ?

I wonder if there is anyone on here who has an understanding as to why Oilex are so concerned about the asx listing rules ? Seems odd that they would be bothered by having to notify changes in activity.

I wonder if this delay etc is the reason for the fall yesterday being greater than the dilution. Wish I'd waited a day before topping up, could have got in lower. Still, that's life. Atb.

looks like in addition to the. A$330,000 loan due to be repaid today there was another, I wasn't aware of, of 250,000. Both now post postponed to next April so that they can be paid for by the equity raising.
With regards to the UK exclusivity agreement that has been extended so that Oilex can clarify asx listing requirements. These seem to be to do with having to notify asx of any change or scale of activity. They want clarification that these don't apply. Don't understand why they would be concerned about that ?
Can't see this uncertainty helping the sp. Who knows? Gla.