Member Info for guod7

In this case the historical stuff in relation to unpaid cash calls could well be the deciding factor. Let's just wait and see what comes from arbitration!

My understanding is the monies are being held in escrow, what actually happens to their distribution will to a certain extent depend on the outcome of arbitration.

Chesh it's break even Don't have the inclination or the money to average down Good luck!

Addamsrups, just thought I'd just throw this one in for old time sake I'm destined to be with Oilex till it hits 4.5p or goes to the wall... whichever comes first!

'Wouldn't want to be out of this over the weekend'

Something that's virtually held up progress for nearly three years was never going to be easy to resolve. Let's hope the gamble taken pays dividends and the wheels start turning sooner than later

Arbitration should shine a light on all the details around 77h where the dispute appears to have fiirst surfaced. Just hope our gung-ho fearless leader at the time had everything signed off on before going ahead. From my past experience working in India under contract to the National Oil company this is paramount, wing it and you pay dearly

Based on the information made avalible by the company I for one have never been fully clear on the reasoning behind the disputed cash calls, making it difficult to speculate just what will emerge from arbitrarltion Am aware however one way or another that in recent times Oilex have spent what seems like an inordinate amount of time of their tenure in Cambay mired in dispute

When you've been through the good, the bad and the ugly just to have some form of traction after a prolonged period of stagnation is a bonus

Well Chesh if you had a 55% interest in a prospect where approx one hundred million had already been outlayed and since the mid 50's in the Cambay area some 5000 wells had already been drilled doubt you would surrender your interest for a pittance ... but then again I not privy to what a politician would do Good Luck!

Having seen the operation vegitate for over three years and been a shareholder for over ten happy to see any sort of price rise. However have always maintained since this was put on the table that its chances of succeeding weren't promising Just continue to call it as I see it!

If GSPC has stumped up it won't be entirely surprising. Have maintained all along it was always unlikely that the State of Gujarat would allow Cambay to be taken over without a fight

After so long in the doldrums it's inspirational to see it heading north at last.

'Vacation Judge' doesn't sound too promising, due to the magnitude of the situation he/she may grant the extension rather than make the call!

Hoping Diwali will herald a Festival of Light for Oilex's shareholders

Never had any problems with Paragon's ramping after all it's a democratic forum. Though it appears he/she was either a super optimist, deluded or had a wicked sense of humour ... never worked out which!

Maybe Paragon will do a Lazarus and reappear just to add to the interest!

If by some miraculous turn of fate Qilex get 100% ownership the funding of a large scale drilling program in return for a percentage in the concession would be purely acedemic. On the other hand should GSPC remain in the equation after arbitration there will be some massive fence mending to be done if any real progress is to be achieved Let's see just see which way the dice fall!

The way I read it the monies will be held in escrow until the situation is resolved one way or the other!

Modi was the Chief Minister of Gujarat for ten Years before becoming India's Prime Minister but doubt this will have a bearing on the descision. I do think though the current Gujarati administration is unlikely to walk away and imho it will inevitably go to arbitration Hope I'm wrong as 100% to Oilex would be like winning lotto!