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I think the train is starting to pull out the station now. By Wednesday there will be a whole load of people friutlessly hoping it will drop back into the 0.20s.

branson - Worth pointing out this article originates from the Wall Street Journal. We all know how much they love Trump FFS .

Mick-b - Also worth point out that the Nazis started out as the National Socialist German Workers' Party. Orwell stated that racism would come from the socialists. He was right then and he's is right now.

Fundraiser - It didn't fail P3.

http://www.immupharma.co.uk/top-line-results-lupuzor-pivotal-phase-iii-trial/

NoMark - i know of 2 financial journalist who are married to or are in relationships with hedge fund and/or trading units.

Very easy to create a straw man article that supports a negative sentiment once something has fallen.

I trust Sunday journalists even less as they know they can influence the Monday price as the pipe and slippers brigade can't seem to think for themselves and are easily spooked.

Folks, just remember it's the OILEX General Meeting this Friday 14th and that Perth are 12 hours ahead.

I'd be very very surprised if so strong hints are not dropped there unless of course we get news before (which I think we will).

Last few days of buying in at this level.

Of course it has. The boyfriend of that ST journo probably works for a hedge fund (as they all seem to do).

So it's was a slam-dunk for the MMs this morning.

What they are not counting on is a sudden reversal of the bear trend. Which is coming.

Someone is clearly starting to build their position.

Me too. Thanks MMs

One decent interview with TM or an RNS this week and this thing is way back up there.

Totally agree Dallo.

The bashers are out in force and those who want to get in at a lower level.

If TM has got a programme of media output planned for this week (and hopefully a couple more RNS) then I think we could see a rapid reversal.

Even the conservative analyst has stated around 700% on success negotiation let alone a good farm-in deal

Keep in mind that 3-4 years ago when things were going 'OK' . OEX was floating around the 10-14p range.

100% of Cambay and a major farm-in, combined with an aggressive drilling programme. Imagine what it could be then?

I think the more you read, either historically or recently, every article seems to surmise that GSPC are toxic, both commercially and politically.

They are the epitome of throwing good money after bad.

I just hope OEX manage to decouple themselves, partner up with someone with vision and start getting this field moving.

When you read the aggressive plans Soloman has, I can see gas or oil shows before the end of the year.

Also, the Sunday Times article was an incredibly over simplistic reading of the situation.

When you find out how many of these financial journos are in the pocket of hedge funds then you pretty much have to stop reading MSM comment on companies and go with the facts.

Lostinfrance - I'll respectively disagree.

The continuation of the testing phase will put pressure on the major to make a move quicker. AZ have already failed and the market has already sounded out the intrinsic value of providing a lupus drug sooner rather than later.

A controlled and focussed 60 people sample group is far better than the wider less organised aperture they had within P3 which contributed to the ambiguity of the results.

Naturally, it's in the interests of quite a few to try and talk this down. When ever I see this I'm sense that the SP is likely to go the other way.

Panda - No disrespect but if you have a target considerably south of the current SP you are hardly going to pump the dame stock.

It's in PG's interest to talk it down as they will look like idiots if this starts heading back up to 30-50p.

Very interesting to hearing what TM has to say this week. I think also there could be another couple of RNSs in the next week or so which should help too.

TK - Yep, this is how I think it will pan out in the next few days. I mentioned in an earlier post that it will most likely be

55% Oilex (Controlling %), 35% New Partner, 10% GSPC (Skin in the game)

This will allow GSPC a chance to get something back for their investment if things go well and not lose political face.

Lots to read about the fractured history between OEX and GSPC here and the problems they have had with their drilling contractor.

https://www.petrowatch.com/synopsis.php?artId=11074&w=1&refSearch=%3Fsq%3DAban%26ctype%3D1%26PetroWatchSearch%3DSearch%26show%3D4

I'm posting this up again for people who are having a 'weekend look around' and need a quick resource for understanding the current situation and why people are getting excited about the potential of this stock.

If you find this useful, please feel to copy and paste to other platforms.

Oilex / GSPC Situation

GSPC have stated quite categorically that they are investing no more money, also the JV expires early next year so there is little point in them handing over actual money. Read up on GSPC, they are very close to bankruptcy and owe some far bigger concerns far bigger amounts that they don't have a hope in hell of paying back. The Indian Congress have instructed the central bank no t to bail them out and have called for them to go bankrupt.

https://www.livemint.com/Companies/tcNs2RUmfqs6lFGC5HxhUP/Cambay-oil-field-faces-closure-as-GSPCOilex-joint-venture-t.html

Oilex owed $3m+ by GSPC

https://www.livemint.com/Industry/A4MUWpwfenPkEIscczPKxI/Oilex-threatens-Gujarat-State-Petroleum-Corp-of-Cambay-basin.html

Oilex issues Default Notice to GSPC for $3.05m
http://www.oilex.com.au/investor-information/announcements/announcements-detail/2018/07/30/event-of-default-notice-update

GSPC given to 4th September to challenge, pay or relinquish license to Oilex

http://www.oilex.com.au/investor-information/announcements/announcements-detail/2018/08/13/gspc-event-of-default-update-and-trading-restoration

GSPC close to bankruptcy (far bigger debts than Oilex)
https://m.timesofindia.com/india/congress-alleges-pm-modi-not-allowing-gspc-to-be-declared-bankrupt/articleshow/65573792.cms

https://steelguru.com/gas-oil/sbi-should-declare-gujarat-state-petroleum-as-bankrupt-mr-ramesh/519014

Cambay Reserve & Recoverability

Independently Verified Gas & Oil

https://economictimes.indiatimes.com/industry/energy/oil-gas/oilexs-cambay-basin-block-in-gujarat-holds-1-3-trillion-cubic-feet-gas-1-6-bn-barrels-oil/articleshow/10376603.cms

Recoverability Report (Schlumberger / Baker) 2017

https://uk.webfg.com/news/aim-bulletin/oilex-unveils-favourable-fracking-analysis-for-cambay--2827749.html
https://www.worldoil.com/news/2017/6/6/oilex-provides-update-on-cambay-field-workover-program-in-india

Align Analysis Research Note

http://www.alignresearch.co.uk/cpt-company/oilex-limited/

LSE Regulars - Please feel free to add under this if I've missed any links of info out.

Good luck to all this week

No relation to Nat King Cole?

That million seller/buyer is going have their work cut out if the big RNS drops.

Personally you are better just phasing in buys as best you can as this could pop.

Just remember the UK loses almost half the India/Aussie day.

Bit of an interesting climb down (ish) by Trump today. The market was expecting him to bullishly confirm that 200bn worth of tariffs. Now he's going to look at the consultation period feedback personally.

I think he might start to soften as he doesn't want to roll the boat before the mid-terms.

Generally a bad day in the markets all around.

As for IMM, I think he MMs overcooked the tree shake this morning, triggered stop losses (which probably accounts for that continuous £15-18k sell off during the day - someone one is going to be p155ed getting back from work).

Unfortunately, being a Friday and a bad market Friday at that, there wasn't many buyers.

TM needs to get some more news out and get himself on Proactive investors next week.

and what prognosis is that?

On other matters. Seems to be someone selling out £15-18k chunks for most of the day that has kept the SP down.

Once they are gone, this should spring back to the mid-20s.