Member Info for guod7

Keeping the market regularly informed has never been JS's forte and this deafening silence could well be a sign that his audacious plan has fallen way short of its planned objectives

Since December 2014 when it was announced that all proof of concept objectives had been achieved (subsequently refuted) and apart from some work overs that brought no success, virtually nothing in the way of exploration has been achieved.

Unlikely that if there has already been a resolution both Oilex and GSPC would simply remain mute as the courts would be watching this process with great interest

When you've been here as long as I have you learn that the only time these guys put out an rns is when they have something decidedly in their favour to announce. Instead of keeping the market informed in a responsible fashion as to progress (after all we are the investors) the modus operandi is simply to go to ground.

In reality there has been very little real progress on the ground in the last four years. Apart from a ten year PSC extension, probably granted on the basis of the partnership with GSPC and of course the now regular capital raisings to cover the boards salaries its business as usual

For me there has never been any doubt about India's potential and the current intense interest puts paid to those who suggest that it's a dodgy environment to operate in. Been here since 2008 and have seen previous joint ventures with GSPC (including Oman, North West Shelf and Timor Leste) work harmoniously. Wonder if we'll ever get to bottom of how Cambay went so wrong Good Luck All!

Where I come from they could well be described as bletherers!

Forget all the twisted Twitter, maybe Joe is a romantic and all will be revealed tomorrow

Last MD made false and misleading claims about 'proof of concept' and a high production well Several years on his replacement makes claims about securing control of 100% of Cambay then drops off the radar Hope we're not see a pattern here!

Transparency has never been their strong point so this lack of concise, timely information is really no surprise

Share script back in the bottom drawer

Think they would have at least provided us with a progress update if only to show they haven't actually done a runner!

Understandable no news with holiday for Australia Day and they're probably on the turps. These guys are the masters of suspense!

@smokingjoe, you may very well be right but it's not the way I read it. However we should find out soon enough

Still hold the original shares bought in 2008 and apart from averaging down a couple of years ago I neither have the funds or the inclination to change my position. Simply calling the current situation as I see it!

My understanding is the guarantee (against outstanding cash calls) is being held in escrow. The results of arbitration will determine how and whether those monies are finally allocated

Realistically for Oilex to fund a drilling operation with the SP at these levels would be to trade off a percentage of their holding to a third party who will foot the bill. The approval of this would most probably be contingent on GSPC

The reason they didn't pay could well become apparent when the results of arbitration finally surface

Not really all that surprising considering the lack of any real progress over the last three odd years. Imho the only way the market will again take this share seriously is when tools start turning or at least news that a rig has been mobilised.

It does appear everyone is back at work for the New Year apart from Oilex