Member Info for jackpack

We have to my knowledge never been told exactly how many shares ZM has and also how he came to have them ie. did he actually pay for them or did he borrow from frr to get the shares (if so did he ever pay for them)or were they vested to him by some means . Also he does not say how this debt arose or how much this debt is? You would have thought he would have given more detail in his statement , unless of course the shareholding and debt have little substance.

First i do not think the time taken for ratification by GOI is anything to do with Roland. Remember GOI have lost a lot of staff through covid and they are still using a paper file system in a lot of departments I'm told. Thus things take longer.
Cambay has been shut in for a long time thus once restarted there is going to be a large amount of condensate which should help our cash situation considerably

Is it time for shareholders to sent emails to Hon. Geoffrey Mwanbe to get his take on the current lack of progress or will we upset the apple cart I wonder?
I look forward to reading other shareholders views.

Hi I cannot see how Roland will get a profit for his future endeavours for oex without taking shares one way or another . Funding cambay been the most likely.

HI Gordon
Yes I do think oex will do their best to hang on to 100% of cambay either by borrowing (there is so much cheap money around at the moment ) and with Rolands reputation borrowing will not be difficult or with Roland buying in in some form (probably for shares as he will have worked out is profit if the shares price goes into the pence and oex is then bought out).

I think despite Rolands quite and measured tone this is a man in a hurry to get on its really obvious that building a company like oex gives him great enjoyment . He has the right experience and the people to draw on. Thus I think over the next 12 to 24 months the share price will go into the pence with many opportunities to leave along the road with very good profits.

I think with 100% of cambay without farm in partners on a successful outcome to drills (these type of drills are Rolands speciality as he said in interview) then oex is going to be worth at least 100million and probably 200 million plus without any of the other assets . After all look at the price of gas in India and think of those 6 groups building pipelines . Would they not like to own the gas supply?

So far Roland has not got any shares in oex that I know of and he is on a low salary compared to some within the industry.
What if he is going to provide the finance in some way for the cambay drill and possibly even the uk drill in return for shares in oex. It would fit what is happening.

Listening to the interview again the following points in Rolands oven words stand out

Loves building companies

Enjoys tricky field developments (he was talking about cambay)

GOI Ratification a formality

Right now working on progress of technical work cambay ( In other words once ratification is received they will be ready to hit the ground running thus two wells sooner rather than later)

Drilling of new uk well

Big hint New enterprise in the pipe line for co2 storage

Looking at further uk assets (big hint that something is in the pipe line )

Roland gives me the impression because of is often quite and measured tone of someone who can actually say a lot in an interview without shareholders realizing all the near term things he talks about been real catalyst's for the share price.

The tanz gov in my opinion are the weak link when it comes to payment although they do have a new president who is making all the right noises . ARA must have know about this problem for a number of years they are a very well run business they are spending hundreds of millions and they must have come up with a solution to ensure payment for gas you would think? Anybody any Ideas .

Thanks crusty for the info do you have any idea's as to how to resolve this and move forward.

As I said on friday I think Roland is moving at a fast pace. There must be reasons for this otherwise it would just end like a damp squib and Roland has enough experience to know this. Thus I think there will be a regular stream of news over the next few weeks and months that will surprise us all

I have been thinking about Kiliwani North over the weekend. Crusty can you remember a agm in Ireland a few years ago when yourself Irish mouse myself and a few others were having a conversation with Jay. I seen to think he said getting Kiliwani back on stream was a very easy task of cleaning filters etc. Am I right what's your recollection. If this is the case then the remedial work is very low cost indeed probably less than £100 000. Was the reason I wonder more the mounting debt 7 million is a lot of money and were the management at the time simply at a point where they tired of the mounting debt and thought it best to stop production until they stared to get paid. Thus stopping production in a diplomatic fashion may well have in their opinion the strategy to adopt before the debt got any higher. The new president seems to have a much better approach to oil and gas and business generally . The problem is paying old debts. I don't see any provision in current budgets. Thus I think the only way is some form of all future income from kiliwani been paid direct to us with nothing to the tanz. gov until the debt is cleared if that is possible. After all I don't think the tanz gov. could easily borrow to pay us . I do think there a number of solutions to this problem given the new presidents willingness. I will be very interested to here other posters ideas as to how to solve this problem and move forward maybe even our board may be interested if anybody as any really good solutions

Its interesting that the aminex website mentions the possibility of joint seismic's for Nyuni which could lead to another deal with the ARA if they look good . I also wonder if part of the 1.7 million loan is a provision for Kiliwania low cost remedial work . Although I would like to see at least part of the tanz. gov. debt paid first.

First appointment very interesting - A person who he knows well, as plenty of contacts on the international money markets and will have no trouble raising funds. What is Roland up to I wonder ? its looking like we have been taken over without been taken over. I think Roland has hit the ground running and things we have yet to find out about are moving very fast.

Just to add my nominee account is with ii

I have just been on and all my contract notes for purchase of frr are still there as proof of purchase . Thus when frr rises from the ashes My holding can be proved like everybody can prove there holding who has a nominee account.

Its Friday tomorrow thus I think the price will move up and down - personally I don't day trade. Just a thought -
If the indian government have to state it when the ratification is complete somewhere on a website then anybody who understands the language and knows where to look is going to have a great very short term advantage until the RNS comes out.

We are now joint top of the gainers board this morning and still rising that should get us noticed for anybody interested read my post 17th june for how this works it's playing out as I said.

Looks like I was right yesterday when I said selling could be over. Lets see how high it will go . Remember the option price is .476 but doubt we will get to that price without firm news