Member Info for guod7

The anolgy 'lifestyle business' is a fitting description of the wasted years under our previous El Supremo

Was never really sure of Joe's position on anything!
Initially when taking over he stated the results of 77h offered no 'proof of concept'
Sometime later when building his own case for future drilling he made a 180 degree turn on the issue.

It's now seven years since 77h was drilled and apart from a couple of short lived and unsuccessful workovers not a tool has been turned!

Don't know about carbon capture in Cambay but if they don't get a move on the only government approval pending will be for wind turbines and solar farms

As much as it would please me 2p imho is not a realistic medium term goal. The reasoning behind this, which has already been outlined, is the massive dilution over a five year period when vitually nothing of any consequence took place.

On the cusp of a new dawn I view this as another strong indication that things are really starting to heat up. GLA

Based on the material available I have a gut feeling (and only a feeling) that this guy is a doer not a talker, a quality that's been missing from the equation for sometime now

Apologies for posting twice ... edited it not realising it had already been sent

Just a suggestion but it would appear from his resume that he's probably pretty well set up financially. So this may be two fold 1) simply a new challenge and 2) the foresight to appreciate the long term dividends that could eventually flow

Just a suggestion but it would appear from his resume the he's probably pretty well set up financially. So this may be two fold 1) simply a new challenge and 2) the foresight to appreciate the long term dividends that could eventually flow

The new CEO looks like he's arrived at just the right time as Oilex embark on their next challenging phase of Cambay.
Jasper13 just drop in occasionally these days and only know you as a fellow investor but take this opportunity to wish you a speedy recovery and hope as we all do that success is on the radar GLA

There's obviously still residual anxiety after all the water that's passed under the bridge getting to this stage.
Government approval remains the final impediment and once this is signed off on there'll be no looking back. GLA

The cyclone on top of an already horrific covid situation is a major disaster.
It appears to have tracked west of Cambay so hopefully there hasn't been any major damage to Oilex's existing gas infrastructure.

From what's been gleaned at this very early stage of proceedings the ultimate commercial success of Cambay is likely to come from multiple moderately producing wells

Back to where it started a few weeks ago but the situation looks so much better with the 100% stake ... just need a little patience GLA

stevenwest
Gordon probably hit the nail on the head!
My confidence in Cambay remains undaunted
The header came from my quirky sense of humour, something definately needed after being here for thirteen years.

'ONGC recently told the government that it was ending its shale exploration programme ahead of schedule as the results hadn’t been encouraging, according to ONGC executives and government officials. It also told the government to get the country’s shale potential reassessed by a competent international agency'

asx up 20% on just a small volume but now that the corner appears to have been well and truly turned I'm quietly confident that small incrimental rises will follow as they work towards the major goal

Shares in Oilex Ltd. rose on Wednesday after the company said that it has arranged the funding required to complete the acquisition of Gujarat State Petroleum Corp.'s 55% participating interest in the Cambay production-sharing contract.

Shares at 1255 GMT were up 0.07 pence, or 22%, at 0.39 pence.

The U.K.- and Australia-listed energy company said that it has arranged an equity capital raise of 2.4 million pounds ($3.3 million) with existing shareholders and clients of Novum Securities Ltd.

The company said it will issue 1.01 billion new ordinary shares at 0.238 pence a share via a subscription, a 23% discount to Tuesday's closing price of 0.31 pence a share.

"Following completion of the transaction, Oilex will hold a 100% participating interest in Cambay, and as previously announced, this will provide Oilex with the ability, subject to sourcing the necessary additional funding, to restart field work including a work program, consisting of the drilling of two vertical wells to appraise the Eocene gas accumulation," the company said.


Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com


(END) Dow Jones Newswires

Exactly, over twelve months in and we still appear to be in totally uncharted territory.
Australia being an island continent has been pretty fortunate so far but in saying that at 78 still have no idea when I'm going to be vaccinated.