Member Info for jpsherwin

Thank you for responding.

What's your thoughts on future potential, I placed a couple of posts up earlier today and it would be good to have feedback from you beit negative or positive on what I wrote please?

I see potential here, don't get me wrong I bought clearly at the wrong time, I don't see it as a mistake and invested on my own research but it would be good to have your thoughts.

Furtehrmore, GSPC want this, they understand the significance of what is there, if not why meet the condition as laid out by the court?

Arbitration goes one of 2 ways, and either way benifits Oilex:

1.GSPC present their case to retain their 55% interest and meet all conditions of the JV, Oilex can't do this alone, they need a JV beit GSPC (not ideal) however post arbitration I can only summise that if they breach said JV conditions the court will throw the book at them.
2. GSPC do not suceed at arbitration and their 55% interest is transferred to Oilex, at this stage JS needs to have already lined up prospective JV partners as funding is required in order to successfully takje this through to drill completion.

I don't see a downside to this! (Not yet anyway).

Again in my opinion and open to correction if I have this wrong.

Republic Investment Management – (RIM), have steadily built a significant holding since May 2018, initially 7% increasing to circa 13% and over the past few days have reduced this to circa 9% still above their initial investment.

GSPC have met the conditions as laid out by the court, this takes the company to arbitration. A significant point from this was the courts rejection of their extension request.

As clarified by the company and directed to by the courts, GSPC are still obligated to meet their 55% interest of all costs, current & future.

It would be to their detriment not to comply with this given the upcoming hearing.

JS – is currently in India, in my opinion there are several reasons for this:

1. Upcoming hearing
2. Operational Planning (future drills)
3. Possible JV discussions

Any of the above will positively affect the SP.

People researching this should look at the reports that have been written, also review the analysis done by SME on what the potential is.

Give it time, RIM have lowered their holding over the past week, hence in my opinion the retrace. Rightly or wrongly they have taken a significant profit however they're still above the 7% they initially cam onboard with.

SW - In my opinion it's proced in, look at the dates the transactions took place.

Let's see if we can rise a little now.

So, irrespective of arbitration, GSPC have to pay 55% of current and ongoing share of the company, for me JS being in India is 2 fold:

1. Discussion with legal on Arbitration
2. Strategic Operational planning on the way ahead

All in my opinion of course, for what it's worth.

For me personally and it is only in my opinion and how I interpret it, the following has repeatedly being annotated in the recent RNSs, i'm conscious it's cut & paste however I do not wish to misquote:

"On 5 November 2018, the Company announced that the Court had decided on all applications pending regarding the Order obtained by GSPC. In summary, the Court issued and passed judgement further delaying the implementation of the EoD Notice dated 29 May 2018 and also Notice of Withdrawal of Participating Interest (NoW) dated 29 July 2018, subject to the fulfilment of all of the following conditions:

a) GSPC is directed to deposit a sum of Rs.8.25 crores rupees (US$1.1 million approx) before the Court in the name Registrar of the High Court on or before by 15 November 2015#;

b) GSPC is directed to submit a bank guarantee for Rs.21.75 crores rupees (US$3.0 million approx) in the name of Registrar of High Court of Gujarat latest by 15 November 2015#; and

c) GSPC shall commence arbitration proceedings on or before 1 December 2018.

Following receipt of today's SAIC notice, the abovementioned conditions have now been met. The Court has directed that these conditions remain valid for the duration of the arbitration and that the Cambay Joint Operating Agreement (JOA) will continue to operate during this same period. GSPC is also be required to pay its current and ongoing 55% share of the Cambay Joint Venture expenditure while seeking that the EoD Notice is rescinded through the arbitration proceedings."

SW - having read the annual report & Align Researches report, both were very informative. Of course AR have a vested interest in the company, the report is detailed and not just on the current state of affairs and it's potential but the legacy issues too.

Anyone new to this should read both and then work back through the RNSs, go through the presentations that are available on the company website, or email JS as I did with clarification questions.

I'm not going anywhere in the near term as I beleive from what I've read so far that the company has a real future.

Yoshie, after my 04th email going unresponded I was losing a little confidence, that being said I had a reply informing me my emails had been forwarded onto JS and the reason for this was his current location.

My emails were for clarifcation on what I've researched thus far, and I will continue to do so having invested recently.

Agreed further Director buying would show confidence though what he has achieved to date shows significant steps in the right direction.

with JS in India, I would hope to have news soon!

Let's hope something positive comes from his trip.

it's on ASX, explains the decline in SP. RIM have gone from circa 13% to 9.74.

Why?

I've emailed JS with some clarification points (yesterday) as at this morning, no response.

Having read through both reports, those that are new to this company may wish to do the same. It offers great insight, undisputed facts and future intent.

It's available now B2

Hi degsy,

Thoughts?

https://www.iiplc.com/wp-content/uploads/250986-Project-Arch-Circular.pdf

Investor, have you read the circular?

Notwithstanding the current intention of the Board in this regard, the Company is in discussions with Cedar Valley and GGIC, Ltd. (“GGIC”) in relation to the possible partial repayment of the Bridging Loan and the US$21.5 million working capital loan (the “Working Capital Loan”) provided to the Company by GGIC with a maturity date of 17 September 2018 and with a view to further extending the maturity of both the Bridging Loan and the Working Capital Loan. Announcements will be made by the Company in this regard, as appropriate, in due course.

Effects of the Proposed Financing
Pursuant to the Transaction Documents, an aggregate of up to US$125 million (approximately £95.5 million) before expenses will be conditionally made available to the Group by way of: (i) the issue by DLII of the DLII CPS in an amount of up to US$75 million (“DLII CPS Amount”); and (ii) the sale by IIH of the Sale Shares in DLII for a consideration of US$50 million. Each component of the Proposed Financing is conditional, inter alia, upon Shareholders passing the Resolution to be proposed at the EGM on 24 August 2018.
The net proceeds of the Proposed Financing will provide construction and working capital to DLI, will enable the Group to pay down the Bridging Loan (in whole or in part) and, subject to Cedar Valley and GGIC agreement, the Working Capital Loan and will provide additional working capital for the Group.

https://www.iiplc.com/wp-content/uploads/250986-Project-Arch-Circular.pdf

Morning B, Did you take your limit off or did it go through?