Member Info for guod7

Have to wonder just what they have the being doing while waiting for the PSC renewal. They're now suggesting caution re approval of the. work program, would have thought that negotiations would have been well advanced or already locked in Maybe it's been a little draining walking from their prodigious address in Kings Park Road to one of the many trendy restaurants in West Perth

Now that the extension of the PSC has been extended (a laudable accomplishment) what's needed is for the company to enunciate a clear road map for the future, possible alliances, fund raising, plausible time frames and importantly wheels turning on the ground. We've been fed a diet of possibilities for way too long, let's have so affirmative action!!!

"Canning" comes under control of the state government of Western Australia where there is currently a moratorium on fracking, however there is currently pressure coming from the Federal Government to rescind this ... so it's still up in the Air! At present Canning is also subject to the Native Title agreement being brokered although this should just be a formality

I've been here for ten years already and have every intention of staying the course (not a lot of options at the current price) We have already been through turbulent times riddled with uncertainty, but the extension of the PSC is the catalyst that could allow the company to exploit the full potential of Cambay. I sincerely hope the current management are up to it ... GLA

Not really surprising after all that has transpired! After an initial positive and professional start to Cambay the situation descended into an unmitigated disaster under the previous MD. A major falling out with GSPC over operational costs, litigation instigated against the the company by a major shareholder over misrepresentation, and the totally unsubstantiated claims regarding the success of 77h. It appears that the new board are an improvement, but precious little has taken place over the last three years until this latest announcement. In saying all this, the opportunity still remains a reality but it's going to take time for the market to regain any level of confidence ... GLA

Happy Birthday ajax62 ... GLA

We're cooking with Gas!!!

Date for descision on PSC has suddenly blow out from March till June. Hope these guys just don't turn out to be masters of spin like the last MD, destroying all credibility the company had built up over several years and leaving the project floundering. We live in interesting times!

After over ten years of holding what could be a potentially ground breaking stake in Cambay I'm about find out whether the ever changing management really value opportunity that has existed from day one. It really is the last throw of the dice if they're fortunate to get the PSC extension (which they have done precious little to deserve) I'm hoping vainly or the best but have been led down the garden path so many times nothing would surprise me.

Doubts of immediate significant rise in share price, but I'm confident that it will set it on an upward trigectory that could see big future rises, provided the management group don't squander the opportunities this time The PSC extension will represent be a second bite at the cherry

The 2018 Treaty has settled a long standing dispute between Australia and Timor Leste in relation to maritime boundaries and profit sharing arrangements. Doubt if it will have any bearing on the 1.7 million being sought in relation to Oilex's involvement in the Joint Venture. But who knows!

Just getting a little excited, should have read two vertical wells

It's mostly factual, huge untapped gas reserves located fifteen clicks from a high pressure pipeline. All that is needed is the extension of the PSC intelligent evaluation of the two approved horizontal and we could actually be "cooking with gas"

Well it should become apparent very shortly if the extension has or hasn't been successful and it will near enough coincide with my ten year anniversary. Its make or break time, either we'll become stakeholders in what could become a very lucrative future, or it will morph into little more than a bad dream. Let's just hope the former is the case ... GLA

Doubtful Oilex will ever see the outstanding cash calls. With the enormous cost overruns and the spurious information fed to all and sundry during the drilling and production testing of 77h, GSPC may well have decided to draw a line in the sand.

The fact that the heavyweights didn't attend is not necessarily a negative. Oilex has been involved in long standing joint ventures with GSPC which predate Cambay. Provided the Miller's incompetence and questionable conduct hasn't soured the relationship completely, I reckon we're still a shoe in. While GSPC may be seen in a negative light by some, I still think it's paramount going forward that a company with their clout and contacts is integral to future success. GLA

2018 will be the last chance for Oilex to consolidate what is probably the best opportunity they will ever be likely to get.

Let's hope after a mammoth wait by many here this one finally lives up to the promise we all know could be unveiled in 2018

Why a placing now, wouldn't it make sense to wait till they know the outcome of the PSC extension. Raise some money then, either this way or by selling off a percentage to a savy operator. This has the hallmark of a knee-jerk reaction by a board worried about their own renumeration.

ajax62 I'm either a canny investor or thick as two short planks, haven't decided which ... good luck!