Member Info for liquid1

&:00 am is 12:30 India time!

We'll know by tommorow if OEX can draw US$ 3 million

or

Get 100% Cambay

Win Win

Indian Gas

Oilex has been operating in India for some 10 years and is one of few international companies seeking to harness the country’s gas reserves.

Having fallen from $5.05 per million British thermal units in the second half of 2015 to just $2.50 in H2 2017, Indian gas prices are predicted to rise to $3.39 in H2 2019, according to a poll by Bloomberg.

India is a net importer of oil so any domestic production is highly supported by the Indian government.

The Cambay project was granted a ten year extension in early 2018 meaning Oilex is well placed to benefit from the governments support for gas production.

The Cambay field is thought to contain some 4404 bcf contingent and prospective resources in place.

https://ukinvestormagazine.co.uk/oilex-shares-surge-40-on-cambay-field-high-court-decision/

Read This for target: http://www.alignresearch.co.uk/oilex/oilex-court-ruling-heads-win-tails-lose-situation-re-judgement/

Maybe ONGC have paid: TOI BUSINESS 'ONGC bought GSPC gas field stake for half the asking price of Rs 20k cr, replacement cost' PTI | Oct 21, 2018, 14:26 IST New Delhi, Oct 21 () State-owned ONGC bought Gujarat State Petroleum Corp's (GSPC) stake in a KG basin gas block for USD 1.2 billion (about Rs 8,000 crore) when the replacement value of bran https://m.timesofindia.com/business/india-business/ongc-bought-gspc-gas-field-stake-for-half-the-asking-price-of-rs-20k-cr-replacement-cost/articleshow/66302455.cms

GSPC applies for an extension for 15days cause they don’t have 4m lying around. But In a few hours they’ve possibly paid the court?? Something doesn’t add up! Why didn’t they just pay as per court order. Maybe they haven’t paid anything!

Expect + 600m volume by close

Tonight

One very important point likely not understood by many is that in relation to the lodgement of the $4.1m sum with the Indian court it is our understanding that 90% of the $3m element relating to the defaulted sum is actually cashable by Oilex following a relatively straight forward application to the court. Looked at another way, it does appear that Oilex shareholders are now in a “heads we win, tails you lose” situation

http://www.alignresearch.co.uk/oilex/oilex-court-ruling-update/ Read DYOR

Align research

Win win FFS Scenario 1 paid 3m = 1p Scenario 2 unpaid = 3p MM’s have raided your shares!

https://twitter.com/alignresearch?lang=en

Update blog to come depending on news.

NT at 68

yep

you're right 6:15 India time is 12:45pm UK time

https://www.jud.ct.gov/directory/directory/ctinfo1.htm

Courthouses are open from 9:00 a.m. to 5:00 p.m. Monday - Friday, except on legal holidays. Doors open at 8:30 a.m. Clerks' offices are open from 9:00 a.m. to 5:00 p.m.

11:30 UK time to deposit! Assuming money to clerks office!

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

10:30am–6:15pm
Gujarat High Court, Thursday hours

ie: 3h 15m to pay:

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

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 2018;

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 2018

Scenario Two – Per share valuations



10% discount rate

12% discount rate

Valuation

£ million

Per share

Valuation

£ million

Per share

Currently in issue (2,265.4m)

76.93

3.40

68.27

3.01

Fully diluted basis (2,520.1m)

76.93

3.05

68.27

2.71

These potential target prices may look high compared to the current market price, but that is largely, in our view, due to the shares being tremendously oversold and that fears over a drawn out litigation/arbitration process have held the stock back. As per the RNS yesterday, it seems to us that Oilex are now in a strong position and that there will very likely to be political pressure within India to come to a resolution, finally.

We believe by any conventional yardstick that the shares are very inexpensive. We also point out that the true potential at the Cambay Field PSC is a lot higher – the 145 Bcf planned to be produced until 2029 represents just a fraction of the resources here. We in fact see our model and our valuation as actually representing a base case that does not account for further extension or an even larger expansion. An additional government approval would be required to extend the PSC beyond 2029.

For over 25k