Member Info for gordon1237

Sounds almost like you doubt that they have "worked tirelessly towards a resolution" as per the rns of 30th April. Lol.

The more I think about it the more bonkers it seems that any of us gave the slightest credence to that article. It was just about believable that Oilex and gspc would kiss and make up and start drilling, but 30 wells. That would have been ridiculous when the new techniques hadn't been proved viable and there was no way Oilex could have financed their side of the deal. Not surprised it continues to drift down. Also can't help be suspicious about why the article based on info more than a year old appeared at all. Very difficult to believe whoever wrote didn't know it wasn't current.

Pretty annoyed with myself for getting sucked into the hype, especially as the phrase "revision of the jv's earlier programme" rang alarm bells. But the article had yesterday's date on it and it seemed promising.

If we wait till this reaches 3p we'll be struggling to get to the boozer on our zimmer frames!

Doomed, doomed! Wur all doomed.

For a while there I let my natural cynicism slip and almost became a believer. Won't make that mistake again. Lol.

Oh well, it always seemed too good to be true. Unbelievably misleading to print a proposal schedule more than a year old as news.

Has there been an rns? Can't see it on here ?

Well, 3 hours in and the market's reaction has been underwhelming to say the least. Yet another false dawn ?

Can't help but wonder if the telling phrase in the article is "the proposed project is a revision of the JV's earlier programme". Maybe that's all this is, a proposed schedule of what they would like to do if all the other difficulties can be resolved ? Slightly against that is that they seem to have costed it fairly precisely. For crying out loud bod let us know what the fcuk is going on!

Is the fairly muted market reaction so far, telling us something?

Seems on the face of it, a mind boggling bolt from the blue!! Nothing happens for years then 30 new wells. Don't think anyone was expecting that ! Surely must be an rns now. So many questions raised. Does this mean the dispute is settled? If so, on what terms? How are Oilex going to pay for their share? Seems a bit strange that they would plunge in with 30 wells without knowing how successful the new techniques are? What is the significance of the bit where it seems to say that this is a revision of an earlier plan for 60 wells? Really hope it is what it seems. If so might need to get the humble pie out of the freezer. Lol. Can't be be sure of anything until we see the rns and market reaction. Gla.

Lot of straw clutching going on here. Nothing has really changed. We'll see tomorrow.

Gspc are not about to go bang. Not in the near future anyway. That seems to be the whole point of gsil effectively becoming their owners and restructuring their debts. Just hope this doesn't muddy the waters and cause further delay. Still don't get why anyone thought this was fantastic news.

Agree they should have gone to arb from the start. However, don't see how you can call it arb if you're not willing to compromise.

Seems like something fairly seriously wrong that it has dragged on for nearly 6 months now.

At the present rate of cash burn Oilex will run out of cash in a couple of quarters. So if there is no settlement it looks as though there will be another raising resulting in yet more dilution. This will be pretty disastrous for holders. Also, with each raising it gets harder to raise a decent amount.

Think those involved in the December placing at 0.36 must be pretty hacked off with Oilex to see their investment halved. Looks like that has been burnt off with sfa to show for it.

A magician is exactly what Oilex need to pull a rabbit out of the hat. Otherwise, in the absence of news the trend will be in only one direction.

Question is, what will run out first. Patience or Oilex's cash.