Alternative settlement13 Aug 2019 20:46
News this morning from Oilex relaying essentially that they still remain locked in alternate settlement talks with GSPC over the long running Cambay field disputeThis is also a telling para – “More recently, it is Oilex’s understanding that the State Government of Gujarat and the GSPC board of directors’ have approved a sales process for a number of its local Indian joint venture participating interests. At present, Cambay is not formally part of this sale process, however, GSPC have indicated their willingness to divest their interest. Pursuant to the Cambay and Bhandut JOAs, Oilex holds pre-emptive rights to acquire GSPC’s interests in both assets.” (highlights ours)Hmmmmmmm substantial transaction. Last news was in April. Couple months gone by. Have they actually agreed terms regarding cambay for oex to take over? 1p + Could be seen tomorrow.