Member Info for gregpeck7

It’s a very very exciting time. Lovely comm me Lang with a great balance of producing assets and exploration potential. Just what a seasoned investor looks for. Chances for a moon shot underpinned by rock solid and rising income metrics. South America is very very underexplored. It’s a nice basin to be in. Regarding the share price I truely believe 2p will soon be the floor not the target. Lets me real. At 2p this is worth 20m it’s hardly rampy or unjustified. You just can’t get there in a day. The optics here are excellent. It’s a strong buy and hold.

Can see this build nicely towards Thursday. Would make sense for some for of update to drop Thursday pre q and a.

The entire share capital of the company has been traded the last 4 days in volume terms. Once the churn is over this will grind higher as it deserves a much higher valuation. As other have said as nice as it would be that won’t come overnight though. I Personally do think this will be over 2p pretty soon though.

That was exactly my read.

Am I reading a different RNS? They are not getting 125 million

Read the accounts... Thats all Im saying..

I will help you all out a bit

"Materiality uncertainty related to going concern

The auditor's review report contains a materiality uncertainty related to going concern in relation to the potential uncertainty regarding continuation as a going concern. The consolidated financial statements have been prepared on a going concern basis, which contemplates the realisation of assets and settlement of liabilities in the normal course of business. The Group will require funding in order to continue its exploration activities and progress the Cambay Field drilling programme.

The funding requirements of the Group are reviewed on a regular basis by the Group's Executive Director and Company Secretary; and Managing Director and are reported to the Board at each board meeting to ensure the Group is able to meet its financial obligations as and when they fall due. Until sufficient operating cash flows are generated from its operations, the Group remains reliant on equity raisings, joint venture contributions or debt funding, as well as asset divestitures or farmouts to fund its expenditure commitments.

The Company continues to actively develop funding options in order that it can meet its expenditure commitments and its planned future discretionary expenditure, as well as any contingent liabilities that may arise.

Further information is provided in Note 2 (b) of the consolidated financial statements.

Corporate

a) Cash Balance

At 31 December 2020, Oilex retained cash resources of $102,901. "

It probably wont, but there is going to be a big equity raise. Likely on the back of this.. It even says that without one the company is insolvent in black and white in the accounts...

Accounts clearly say without a placing this company is insolvent... I would get reading.

https://twitter.com/01l_m8nd8r1n/status/1377612931324649476

Better check the accounts out...

I would read the accounts. Its a car crash. VERY strong warnings about this being viable in the future....

Materiality uncertainty related to going concern

The auditor's review report contains a materiality uncertainty related to going concern in relation to the potential uncertainty regarding continuation as a going concern. The consolidated financial statements have been prepared on a going concern basis, which contemplates the realisation of assets and settlement of liabilities in the normal course of business. The Group will require funding in order to continue its exploration activities and progress the Cambay Field drilling programme.

The funding requirements of the Group are reviewed on a regular basis by the Group's Executive Director and Company Secretary; and Managing Director and are reported to the Board at each board meeting to ensure the Group is able to meet its financial obligations as and when they fall due. Until sufficient operating cash flows are generated from its operations, the Group remains reliant on equity raisings, joint venture contributions or debt funding, as well as asset divestitures or farmouts to fund its expenditure commitments.

The Company continues to actively develop funding options in order that it can meet its expenditure commitments and its planned future discretionary expenditure, as well as any contingent liabilities that may arise.

Further information is provided in Note 2 (b) of the consolidated financial statements.

Corporate

a) Cash Balance

At 31 December 2020, Oilex retained cash resources of $102,901. Subsequent to the end of the December 2020 quarter the Company announced that:

I think the herd are still very much around, just trying to cover a lot of bases.. This will surge again soon.

Absolutely excellent entry point now. Surprised its here, but it is. So take advantage, its basically a 70% off sale!

In all seriousness this is being traded like mad and can move so quick but its a quality play now and its very undervalued so take opps like this to build up your position.

You deffo Not missed this one.

This is still way too cheap. The churn looks like its over. Until this hits 30 - 50m range its going one way.

This will open NT and probably gap up towards 1.5p before anyone really gets let in.

Delayed auction.

88e will be heavily sold tomorrow as people wont want to hold it over the weekend (logically) and they will see whats going on here and pile in as this is likely to multibag. I would so much rather be say here with relative mkt cap and whats on offer considered.... 2p plus tomorrow.

Could easily be over 2p end of day tomorrow now the finance is sorted.

Its just rerating.. It should not be 10m odd mkt cap, more like 30 - 50.. Stupid its down here.

Get posting on that 88E thread lol.. Ive dropped a couple of hints in :D Let the rerate begin. This is truly worth so much more.

Popcorn please.