Member Info for gordon1237

Sorry guys, that makes no sense as they have already deposited/guaranteed the money to the court and could have coughed up before if the will was there. In any case they have now been restructured/bailed out and aren't as skint as they were.

Quite agree guod. For all we know it could turn out that gspc feel they have a valid justification for withholding the cash if they weren't satisfied with Oilex's performance. It always seemed strange that they wouldn't cough up what for them is a trivial amount. For that reason, it is by no means certain that the eventual judgement will be the bonanza that many are pinning their hopes on.

By the way, you didn't say who was forecasting 2p. Atb.

Yuri, I only said 2021 because that's what you said. It needs to be sorted a lot quicker than that, hopefully in the next few months. Even then there's no guarantee that the result will be what's needed to turn things around.

So who apart from yourself is forecasting 2p in 2-3 years?. Also, no forecast can have dilution factored in unless you knew in advance how much the dilution was. To take an extreme if the number of shares doubled a forecast of 2p would have to become 1p.
In the unlikely scenario that Cambay wasn't sorted one way or another by 2021 I doubt you would have much option than to move on, as your investment would likely be worth very little. Atb.

I really wish I could share your unshakable faith Yuri. I think the next news is likely to be substantial further dilution, probably in the next month. If the dispute isn't resolved very soon I think we will see new lows before year end. Atb.

Yuri. Why would they need to cancel it? All they said was plans well advanced for the drilling of two wells in 2019/20. They also said it can't happen until the dispute is resolved. So nothing has been promised. Seems very unlikely anything will happen this year or early next. Atb.

Yuri. I have been tempted to average down (again) but I don't think I should throw good money after bad. So, are you still predicting two wells by February latest ? Hard to believe that now surely?

Chesh. Missed you!
All the best (never thought I'd say that).

To paraphrase the Specials, "This board coming like a ghost board".

Like I said it means nothing. Their minimum movement is 0.001, so a drop from 0.003 to 0.002 gives an apparent crash of 33%. When it goes back to 0.003 it will be a rise of 50% and there will be people on here saying big news is leaking. Lol.

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Means nothing. These big swings happen all the time there. Tiny volume of 120,000.

Might be interesting to know what people's thought are on what the sp will be at the year's end in the absence of a Cambay resolution? With the inevitable dilution I wouldn't be surprised to see new lows, maybe 0.1p. Of course, if there was a sudden unexpected favourable result anything is possible but it doesn't look likely at the moment. Yuri, you were saying two wells by year end or February latest. Can't believe you are still expecting that ?

The arbitration was on hold while the talks took place. The last we heard a month ago was that both parties had paid their initial fees for the arb and they had yet to hear the timetable. Looks like a lot of months wasted. Unless a settlement is reached very soon they are going to need to raise more cash to keep going.

I hear Joe bought a nice juicy burger. Would that do ? Gla.

???

I might stop moaning if we ever get any really good news. OK, the Oz acquisition was fairly positive but that is something for the future if Cambay is ever sorted. Don't see why anyone would think further legal distraction is good news. Gla.

Just what we needed. More legal shenanigans, more uncertainty.

It's the only logical explanation Prof. By the time the suspension was lifted they could see the acquisition wasn't that significant. May be good later, but in the short term.

I assume it must be. There were just no trades last night. Probably not unusual.