Member Info for gordon1237

Out of boredom waiting for something to happen here, I'll post some more irrelevance. At a speed of 100,000 mph it would take over 6000 years to reach that star ! Warp factor seven Scottie !

Bloody predictive text (or me having a brain freeze). Lol. Actually meant to say it was interesting. Only just noticed.

Chesh got his Scout's badge in bamboozlery ! Lol.
All the best (doesn't mean it's not interesting).

Fascinating stuff Chesh.

Of course, if they do a farm out, their share of the drilling costs would be reduced and they would have some cash as well.

Yes, they do have a shut in well. Don't pretend to be an expert on that, but wasn't it shut in because it wasn't producing commercial quantities ? Also, these are exploratory wells with no guarantee on what they will produce. Hopefully, just getting the bits turning will give an sp boost.

Yes, all this stuff approved at the agm was previously announced nothing new here. Targaryen my figure of approx 2.5m USD for the Cambay wells takes into account the new partner. Its 45% of the total of 2.5 to 3.0m USD per well.

YURI, the key phrase is "Ratification of Prior Issue". Old news.
Incidentally, even if Oilex get the full 3m USD that will all be needed for the two Cambay drills. So draw your own conclusions. Gla.

approval

Isn't this just approved of the previously announced placings to pay for Cooper basin ?

Not worth any more than a few weeks ago ? So why all the excitement and big rise last week ?You'd think if the cash has now been confirmed there would have been some sort of rise. I don't believe traders are anything to do with it not rising. They made their money last week.
I may top up after dilution if it comes. Atb.

cash was coming.

Was out all day yesterday. Nice long walk on the South Downs with a great pub lunch. So just catching up.
Not on twitter so would be interested to know what Align are saying now. You must admit it is quite funny that not so long ago people were quoting them as evidence Oilex were going to multibag but now they are the villains of the piece. Lol.
Reading the rns again it sounds as though they are maybe hoping to recover the cash from the new partner(s). Guess that could take some time. In which case they are going to need some cash short term, probably via a raising or maybe an advance from a potential new partner. Don't forget they have a loan to repay on 1st October.
Oilex's share of the cost of drilling the two Cambay wells is going to be around 2.5 million USD. I wonder if that is why the drilling has been put back to this time next year as they expect to have the cash by then ?
Yuri, in your post of 8.14 you mentioned someone who claimed to have spoken to Joe. Don't know who you were referring to but it certainly wasn't me.
Can't for the life of me understand why the sp didn't respond to yesterday's news. Given that it topped 0.3 last week you'd think it might have reached the same sort of level if it was believed the cast was coming ? Please, nobody say it's traders or the mms. That would make no sense. Atb.

Almost tempted to top up now !

OK guys. Hands up time, I was wrong about this. Humble pie time ! Nice that the bod have probably responded to the speculation on here. I do on this occasion feel a bit of a Muppet. (Just for you Wolfie). Mind you the rns certainly wasn't clear and their were others who agreed. Anyway, good news.
However, can't help but wonder what leverage Oilex have to get the cash now that both the arb and EOD have been dropped ?
Surprised the sp hasn't gone up in response.

Thanks Conger. Not too long to wait before we know for sure. If not the end of the month definitely by end of year. Atb.

Actually, something has just occurred to my cynical brain. Saying the money is still owed is not necessarily the same as saying you definitely expect to get it. What if the deal was that gspc still owe the cash until the Cambay sale is complete or at least underway at the end of the month and the debt is then written off ? After all given their past performance, Oilex would be mad to trust them. Just a thought. Gla.

TTPP. I have no reason not to believe Conger that Oilex have emailed to say the cash is still owed. Looks like I'll have to admit to being wrong about this. It still seems staggering to me that it wasn't in the rns. Maybe Aim rules are a lot more lax than I thought.
As the money is already deposited with the court, presumably they could pay it tomorrow if they wanted to. Which begs the question why didn't they do just that months ago. I suppose the answer may be that they decided to get shot of Cambay and the dispute was preventing that.
Obone and guod I know you agreed with me that the cash was gone. What's your take ?

PS. It would be nice if they issued a further rns clarifying that.

Blimey Conger, thanks for being so upfront about it. Looks like I may be in for a dose of humble pie !! Got to say I am truly shocked that wasn't included in the rns. Gla.