Member Info for guod7

"Oilex Ltd (the Company) is pleased to announce material progress in the resolution of the outstanding cash calls owing to the Cambay and Bhandut PSCs. During the current quarter to date, the Joint Ventures have received the equivalent of US$1.41m million gross in regards to outstanding cash calls from its joint venture partner. After the above-mentioned receipts, the remaining aggregate outstanding cash call balance for the Cambay and Bhandut PSCs is the equivalent of US$5.68m. The Company continues to maintain a constructive dialogue with its joint venture partner to resolve the remaining outstanding cash call balances. Managing Director of Oilex, Jonathan Salomon, said; “We continue to work closely with our partner and are pleased with the progress in resolving outstanding cash calls. We look forward to further cooperation with our Indian" Appears from this its only part payment, but at least it's a step in the right direction.

Trading Halt on ASX, pending announcement by Oilex in relation to JV cash calls owing by GSPC Let's sincerely hope that this JV debacle has been resolved, they can get on with the job of cracking the Cambay code, exploit it's full potential and ultimately reward shareholders.

Always distressing to hear of suffering and sincerely hope things improve for you in this area. Nice to have your take on things, but as you point out the prognoses doesn't look good for many of us LTH's However nothing I can do for the present but hang in there and quietly hope for a small miracle.

Believe it or not I seem to remember a previous MD who supposedly chatted regularly with punters ... can't wait for some gems of wisdom from our current fearless leader!

Since the late 50's some 5000 wells have been drilled in Cambay with varying degrees of success What has become abundantly clear is that success revolves around future hydraulic franking, the workovers are merely a side show. It's now three years since 77H was drilled and the window of opportunity seems be closing rapidly.

this share has turned out to be. Untold potential squandered by dubious and inept management. Including litigation with a major shareholder, inability to manage the JV partnership. I've seen this wax and wane over several years now and don't think there is much upside remaining.

I'll be at the burning Ghats with you ...

and yet they talk about exploring new business opportunities. They already have two promising ones in Cambay and Canning, but have been unable to manage these with any degree of success.