Member Info for jpsherwin

Full Report

https://markets.ft.com/data/announce/detail?dockey=1323-14170143-3G8J7LMLVMSLCNHLS8140ANKQP

CORPORATE
During the quarter, the Company issued no shares or options.

The Company continues to review new opportunities to create value for shareholders. Discussions are advanced on potential acquisitions in the Cooper Basin and the UK.

Cash resources at 30 June 2019 were approximately $0.4 million.

Subsequent to the end of the quarter, the Company amended its Series A loan of A$330,000 extending the loan repayment date from 26 July 2019 to 1 October 2019.

Subsequent to the end of the quarter the Company announced that it has arranged an equity capital raising to secure funding of £0.34 million (A$0.6 million).

During the quarter the Company announced a change in its registered office location.

OVERVIEW
The Company's primary objective is to maximise shareholder value from its principal asset in the Cambay Basin, located onshore Gujarat State in India, whilst also continuing to review other opportunities to create value and diversify risk by adding new assets to the Company's project portfolio.
To that end, Oilex continues to evaluate and implement a range of technical programme options to progress its main objective of accessing the significant gas resource present in siltstones in the EP-IV reservoir at the Company's Cambay Production Share Contract (PSC). North American unconventional drilling, completion and stimulation technologies have been applied by the Cambay JV over the last six years with positive but commercially modest results and work is underway to optimise results for future work programmes. The current work programmes are focused on:

· Reaching a resolution for the outstanding cash calls payable by the Company's joint venture partner GSPC;

· Preparing detailed work programmes, including new wells for implementation under the approved Field Development Plan (FDP), securing the PML extension and PSC amendment for Cambay PSC and Bhandut PSC.

· Arranging the necessary funding to implement the planned work programme; and

· Continuing to evaluate new opportunities to add to the Company's project portfolio.

BHANDUT FIELD, ONSHORE GUJARAT, INDIA
The Bhandut Field remains on care and maintenance.
During the quarter, GSPC continued with its sale process for their participating interest in Bhandut. The Company has a right of first refusal in regard to sale of GSPC's participating interest. The Company is also in discussion with potential buyers for its participating interest.
During the quarter, the joint venture partner, GSPC, made payments of US$0.095m towards outstanding cash calls.

CAMBAY FIELD, ONSHORE GUJARAT, INDIA
The Company's plans for the 2019-20 work programme and budget (2020 WP&B) to drill up to two vertical wells are well advanced. Amongst other conditions, these wells are pending resolution of the dispute with GSPC and the necessary funding.
During the December 2018 quarter, the Company announced that GSPC and the Company had entered into commercial negotiations in order to avoid the matter going to arbitration.
The discussions between Oilex and GSPC regarding a potential commercial settlement have continued during the June 2019 quarter following the Indian national elections.
In parallel with these discussions, the Company continues to follow the arbitration process with the Singapore International Arbitration Centre (SIAC) where it seeks to fully enforce its rights under the Joint Operating Agreement.
In the June 2019 quarter, GSPC made no payments towards outstanding cash calls to the Cambay Joint Venture (Cambay JV).
During the previous quarter, gas production from the Cambay Field was voluntarily shut-in.

Lol that it should, though I cannot be seen to take sides (cough) yours! I standby my rant.

Too late to retract, might save me £20 odd pound I pay per month, maybe they will take pity on me...... or not !

Bloody spelt your name incorrectly Fyoz ,for that I apologise, not for my rant.

Enough! I get this is a board for general discussion, but you two have turned this into a ****ing contest, more over you’re grown adults and should know better.

FFS give it a rest! the company is suspended, what you think or have thought or have persistently **** and moaned about is irrelevant.

I reported you both to no avail and I’m sure I will be banned for writing this, but I would rather be banned than read the tit for tat that I have seen both on GBR and now on here for months.

Grow up for crying out loud!

To be clear, WB has interests in India not that he’s investing in IIP!

If it’s good enough for Warren Buffett then not all doom and gloom.

https://money.cnn.com/2018/08/27/technology/paytm-warren-buffett/index.html

From the latest RNS

Current trading and prospects

The unaudited Net Asset Value of the Group as at 30 September 2018 decreased to £145.3 million (£0.21 per share), compared to a Net Asset Value of £237.8 million (£0.35 per share) on the same date one year earlier.

Evening SK,

Hargreaves Lansdown?

If this is the abbreviation you’re referring to, I called and spoke to a chap there called Rory who has kindly emailed me confirmation of what my intent was.

Regards

John

it's a shame they do this, tighten the spread and people will trade.

I see upside here, let's see what the BOD can do.

I did highlight the date in the message below, that in mind I've emailed the company and asked if such a change has taken place.

Agreed on any % thresh-hold, but one would think the website would reflect any % change.

I'll share the response should one come however I do not believe he has sold any.

having said that, it's just my opinion mate.

Gilogilo
So unless they're withholding this information, your statement is your own assumption! Post the 700,000 shares allocated his % in the company has not declined but remained extant.

Major Shareholders Information as at 12th November 2018
Shareholder Name Amount % Holding
Ian Main Thomson 28,544,701 12.93%
Orian Partners LP 13,890,000 6.29%
Iain Aylwin 20,117,728 9.11%
JP Morgan Asset Management (UK) Ltd 10,884,318 4.93%
Portogon Investments SA 10,000,000 4.53%
Salida Capital International 13,975,000 6.33%
R Smith 9,432,650 4.27%

Ian Thomson, Chairman of Argos, commented:

"The Company remains very positive about the potential of Licence PL001. We have sufficient cash reserves to meet our ongoing requirements. Now that the reassignment of the Licence has been completed the Company will work to secure other partners to participate in its development".

https://www.investegate.co.uk/footasylum-plc--foot-/rns/acquisition-of-stake-by-jd-sports-fashion-plc/201902181132323768Q/

03rd, what news are you referring too?

All positive signs Fyoz

I may have missed this as last i looked there were only 3.

Mathew Kidwell is the founder and chief consultant at Meldian Advisors, a business consultancy firm established to provide professional advisory services in the petroleum, energy and natural resources sectors.

Mathew has more than 20 years' experience in the petroleum sector, which includes project development, construction and joint ventures, as well as acquisitions and divestitures, farm-ins and farm-outs, petroleum licensing and concessions.

During his prior career in the law, Mathew worked with leading international law firms in London, the Middle East, and Brazil. He has advised independent oil companies (IOCs), national oil companies (NOCs), governments, banks, project sponsors, developers, contractors and service providers in oil and gas transactions spanning the Middle East, Southeast Asia, the CIS, Europe and Latin America, as well in the UK.

Mathew graduated from St Andrews University with a Master's Degree (first class) in 1987 and is admitted as a Solicitor of the Supreme Court in England and Wales. He has been listed in a number of leading professional guides, including World’s Leading Energy Lawyers 2018, Who’s Who Legal: Energy, the International Who’s Who of Business Lawyers, and the International Who’s Who of Oil and Gas Lawyers.

He is also a member of the Association of International Petroleum Negotiators (AIPN) and a Council member of the Honourable Society of Cymmrodorion.

Mr Kidwell has accepted an invitation to join the Board and his appointment is pending approval by the shareholders of Infinity Energy SA at the next General Meeting of the Company.