Member Info for MisterPositive

US closed in anticipation of hearing some good news. Unfortunately RNS is opposite instead.

RNS came "After" US market closed. Their reaction will come in Tuesday trading session.

Does this mean we have lost the winter window now for this year ?

Excellent find. Thanks for sharing.

Having raised £3.5m in an Oversubscribed placing recently just on 19 March, KOD is in very strong position going forward.

Agree Troajan

Might get something this week...u never know.

New ISA allowance kicks in tomorrow.

Mali is highly prospective for Gold with Multi-million oz discoveries already in place.

They did say in mid March RNS...

In advanced negotiations with "Third parties" to provide finance. They seem to have also lined up plans for 2 Wells. So they obviously been talking to other companies in the back ground.

Shell / BP / Cairn ???

Who could it be to come on board as JV partner?

Some great posts over last few days.

0.50 is nailed on. Market momentum works with psychological price targets.

This should easily get pushed to test +1p in next few days as strong momentum kicks in.

One of the cheapest stock around vs Peers but with MASSIVE upside from current very low £13m MCap ???

Cambay could most certainly attract interest from some of the Big majors like, Shell, BP, etc who over the last few years been reducing their Carbon footprint and replacing Oil with Gas.

Shell looking to get to 50/50 split in coming years. BP with similar aspirations. All of a sudden global push towards Green energy initiatives, re-enforces that target even more now than where they were 5-10 years ago in terms of increased Carbon footprint. Then you got those mid-tier Oil / Gas producers who also would be looking to increase their share of the Gas market going forward.

Add to above background and Trend, the Indian Govt initiative to become self sufficient in domestic Gas production and to meet demand. Cambay could play instrumental role here for the benefit of all Stakeholders.

Expecting a strong momentum coming here soon

Gordon
Do what you comfortable with but I would stay with the Trend which is now higher. Glad I bought more at 0.30 into the close Thursday.

Trend is your friend.

Strong momentum about to kick in here.

As per "Kyle's Convertor"

30 TCF = 5.34 Billion barrels of Oil

A thousand cubic feet of natural gas -- notated as 1 mcf -- contains about one-sixth of the energy content of a barrel of oil. So 6 mcf of gas equals 1 BOE.

1 TCF of gas = BOE ?

Barrels of Oil Equivalent.

Think my calculator broke....lol

100% of Cambay is complete Game changer.

They mentioned in 15 March 2021 RNS...

Company is in advanced negotiations with third parties to provide finance for the acquisition.

Is JV partner lined up already ?

Conger
Agree on both points.
Same trade...yes.

Also GSPC must have made provisions for those accumulated losses on their Balance Sheet.
125m @ 55%. So now that asset is off their Balance sheet, they can release those provisions back to PnL........if I am not mistaken.

More attraction for the "Acquirer" if a bigger player were to just Buy Out Oilex outright and net off losses against their own profits.

Tax savings alone would come at more than DOUBLE our current Market Cap....LoL

Now that OEX got 100% of Cambay, they can negotiate better terms.

Greg
I have seen placings done at market price or even at slight premium to market price at the time.

Not only that, have also seen market price re-rate substantially Upwards soon after Placing. Its all about getting more Bang for your buck. That's what all investors want as it removes uncertainty and puts project back on track especially given current low MCap, upside here is MASSIVE.

Some make out the word Placing as if its Taboo !

100% of Cambay is a Game changer.

Will not be surprised if JV partner already in the wings.

Corp Tax rate increases to 25% from 1 Apr 2023.

Tax saving on $125m @ 25% alone would be $31m

Those accumulated losses over the years would have already been reported in Financial Accounts in previous years, but for Tax purposes the $125m accumulated losses can be carried forward indefinitely until fully used against future profits.

That alone is a huge attraction to "Any" Predator looking to Buy Out Oilex.

Wanted to add, current Low MCap vs peers makes ORR even more compelling Buy with Maximum Upside.

Gold poised to make a return back to new highs also. Good Bibemi results and higher Gold price, should provide DOUBLE boost to the re-rate here which could be fast n furious...

Watch the volume in coming days. That is the main driver and Drill results obviously.

Both go hand in hand. We should get a fairly good idea of the Proof of concept to be reinforced further as the company works its way through ALL the 28 holes to get the full picture. Grades, depth, width, etc will give us the full picture. But if holes 4, 5 and 7 from the first batch give us decent to strong grades, then the re-rate should start.

Volume and momentum should kick in early. You won't have to wait too long for that. Everyone's watching....

With different % working interest in 4 separate Gold projects, I am very surprised with current Low MCap here.

Sorry Gordon. GSPC did not pay up their share of the historical costs. They trsnslate into Tax losses to be carried forward until utilised. Highly attractive for bigger player to utilise as Group loss relief if they were to Buy Out Oilex.

Why do you think OEX got into the legal battle?

Alfred
Good observation mate.

Don't worry rampers will arrive in April sometime and take this back to 2p and beyond.

Or the drill results might do the job themselves.
Either way, this board will soon become busy.