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Addmitedly never had much confidence in the current BOD's but this deafening silence is nothing short of farcical

Looks like the 'space cadets' have been running amuck!

It's now over four years since Salomon and Co have been in the driving seat. Administration wise all we have seen is the extension to the PSC (which in all probability was more to do with GSPC's clout) In the field its been less than impressive with only couple of workovers that came to nothing. Always harboured doubts over their tardy reporting and lack of transparency. Beginning to think their a dead loss, however after what's transpired doubt if they'd find anyone else to take on what appears to have become a poisoned chalice.

No longer the leafy prodigious Kings Park Road address but still close enough to the upmarket restaurants for long lunches and plotting there next ground breaking coup

It's perfectly understandable that during negotiations some things can't be made public due to their sensitive nature and the possibility of negitively prejudicing the outcome. However this bloody minded refusal to keep the market informed in any way whatsoever does nothing to enhance the credibility of a board who continue to struggle with their relevance and credibility

I wonder if we'll ever be privy to the truth regarding the currently unpaid cash calls. If it was as simple as non payment by GSPC because of lack of funds it would have been settled by the court in the initial stages. This impasse has now dragged on for over four years and augurs poorly for the BOD's ability to broker a deal and get tools turning again.

Just maybe the BOD's have all joined an ashram and are at this moment sitting cross legged somewhere in the Himalaya chanting rns, rns, rns

We've always got the half yearly report to look forward to!

April the 14th 2014 77h reached TD. All that's been accomplished in the field since then are a couple of work overs which amounted to nothing. I wonder if these guys know they are hired for their expertise in exploration not litigation.

I may stand corrected, but my understanding is that the monies deposited by GSPC are being held in escrow until the final outcome of the dispute. Hence at this juncture there is no watertight guarantee that Oilex will end up with the full amount or indeed any.

GSPC according to the last rns are contemplating divesting their interest in Cambay. Our best hope is that a third party who recognises the potential is prepared, as operator, to purchase the 55% (doubt with Oilex's recent track record that any party would come onboard unless they're calling the shots) Leaving Oilex to find the $$$ to fund their share of what could turn out to be an intensive drilling program.

In 2008 when I entered the frame Oilex were a small proactive, cash flow positive exploration company producing oil in India. They also had involvement as operator in other diverse international projects. All that remains in 2019 are interests in Cambay and Bhandut which have both been on life support for for some years now and a BOD's who have seemingly lost their way. It beggars belief that with all the opportunities that have presented themselves in recent years they have failed to capitalize on any. Just how much longer can this circus keep performing?

In an encouraging development an anonymous member of Oilex's board has today announced from his leafy retirement home that negotiations to resolve the dispute over Cambay are continuing!

The current market cap is a reflection of the total lack of any traction over the last four years and has little to do with the real worth of the asset. Much as I'd like to see oilex acquire the 55% of Cambay for a song, imho it's not going to happen.

The reality is Oilex can show figures on proven resource to the bank, the issue is being able to show they can be recovered in commercial quantities, which to date they have been unable to do. The prospects of success for further horizontal wells after what was learned from 76 and 77h are looking very positive, but it still may be a long road to get there Good Luck All

Think when we speculate on the value of Cambay, amongst other considerations we have to factor in that the Joint Venture have todate spent approx 100million on data acquisition and drilling (both vertical and horizontal) As for GSPC's future, as mentioned before they are primarily owned by the State of Gujarat and doubt even with all the talk that the National/State governments would allow them to go to the wall. Undoubtedly with the acrimony that now exists between the two parties a clean break may be the best option, how this would be achieved I've no idea.

Whether it's brick bats or bouquets this unpaid cash call fiasco has over a period of several years driven all exploration to a grinding halt. My question to the BOD is 'what aren't you telling us'

but alas we still await an rns

If only it was just a matter of xx months, Cambay has been in a state of limbo over the disputed cash for well over three years now!

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