Member Info for Retour_du_Renard

sam - I think people are foolishly holding out for some mystic sub 0.2 price that will no never happen before the next RNS.

If you look at the trend, the troughs not the peaks, this has been upward for the last couple of weeks. Volume has also increased to the point where we even have some folks day trading it now (easy to spot) with £5-7k.

I agree, this is still ridiculously low to where it's going to go, so it's better not to sit around waiting for some drop that will never happen. Wait for the pence and lose the pounds.

Vestor - The fact that the BoD have not pushed back the General Meeting scheduled for the 14th September (losing the sandwich and coffee deposit!!) indicates that they are confident of a quick and beneficial resolution before the final hearing on the 19th.

Let's be frank here, GSPC have had months to consider their position and nothing that OEX put in-ront of them on Tuesday could have been unexpected. The fact GSPC asked for the adjournment is also telling as they could have kicked the consideration into touch their and then.

This is now very much tick-tock time but I think we will see an advantageous RNS sooner rather than later.

Pretty confident now that we are going to get an RNS in the next few hours, certainly before the end of the week.

Cookie,

Interesting planning for the 14th September. They might have hedged their bets of a slam-dunk decision in the court yesterday or 'non contest'. It feels the sort of time you would arrange a meeting a few days after to make a 'big announcement.

I would not be surprised if the 14th get's postponed. Either that or they are supremely confident of winning by next week.

Is there still a London to Perth bus?

Don't read anything into this but if I was Schlumbo or Bakers and I'd already done a very favourable recoverability assessment of a license and part of that license came up for grabs. I know what I would do.

Especially if you have teams and slack equipment in that area.

No, they are AngloSwedish but many of pharma companies are continental.

Also, you rarely get much takeover / buy-out news in August as boards no there isn't the liquidity in the market to make the splash that they want. So often they hold back.

https://europe.businesschief.com/top10/1543/Top-10-pharmaceutical-companies-in-Europe

Spud - Take a look at the website. It's practically a completely different board from those days.

I think we need to give these guys a chance as they do seem to be moving in the right direct and have yet to 'over promised'

Tintin - I think you could almost ignore anything up to 2016. The reserves were there but the team and JV wasn't. With GSPC so weak and likely to fold the opportunity now for the new management team is fantastic.

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

Number of reasons for the 1 trade. Sometimes if can be a broker taking a fee late or someone seeing what they can get or how much they can move the price.

Not sure about the whole 'broker secret code' conspiracy. This is too low volume for that.

Have you ever worked for a big european company (non-UK)?

Nothing gets decided or pushed forward in August.

Another related article to the GSPC is screwed theme from posts above.

https://timesofindia.indiatimes.com/city/ahmedabad/gspc-weighs-options-to-pare-debt/articleshow/62812053.cms

Brainer - It said it was the final hearing.

I was very encouraged that the judge just didn't throw it out to arbitration (which would be pointless) and considered the OEX proposal and gave it enough consideration they thought GSPC needed to consider it.

When you think they have 1.4 TCF and 1.5BB independently proved up and have already had a recovery survey by Schlumbo and Bakers AND they are right next door to the India main infrastructure then the proven potential here is far better than some other AIM stocks I could mention **cough SOUND ** Echo ** Coro who are all 'internal estimates' and bluster.

They are sat on real money here and I sense that the new management (2016 onwards) can see this and have been quite wisely holding GSPC to account. This isn't the first time they have tried to acquire a 100% of the Cambay license but this is the end game now.

And if you think Soloman hasn't got a new farm-in partner sorted out yet then you deluded.

Couple of articles here worth reading to give you an understanding of how precarious GSPC's position is and why they will probably capitulate or at least roll over easier.

Business Model or lack thereof - Politicians have woken up to it.
https://www.nationalheraldindia.com/book-extract/the-gujarat-state-petroleum-corp-model-of-befriending-rivals-friends

https://www.quora.com/What-is-KG-Basin-Oil-Scam-And-why-is-Modi-being-held-responsible-for-it

Credit Rating Dropped this year even after a restructure.
http://www.sbicaptrustee.com/Uploads/News/Revision%20in%20Credit%20Rating.pdf

The volume and depth of buying now is considerably more than it has been in previous weeks. Yes, agree a few days ago this was being moved around using pennies but there are quite a few £5-7k buys going in now. As I think people have woken up to this stock and are reading up a bit more, other than just 'punting' with a couple of hundred quid.

The upside and long hold potential on this can't be ignored.

The last thing OEX needs is to be in the same situation with the company handling the Administration. This is why they are in a rush to sort this out before GSPC go under.

Greendave - Nonsense. What part of 'Final Hearing' didn't you understand.

I'd be very surprised if this situation makes it to the 19th.

The fact is, you'd be a bit of a muppet to sell out now as you could miss the 1000% boat in a heartbeat.

This lull should be seen as a time to round up your holding.

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

It's clear that not only do GSPC want to spend any further money on the site, or pay what they owe but also the JV runs out in a matter of months anyway. Any offer that OEX has put their way has to be better than where they are now.

Soloman must be confident that they will come back quickly otherwise he would have moved the general meeting date, scheduled for the 14th Sept, to after the final court hearing (if that ever happens).

If AZ were sniffing around Lupus then it's pretty obvious there is money in it. They don't really do 'niche' drugs.

Few rumblings out there in the Twittersphere at the moment and odd volumes/ratios.

Could get a bolt out of the blue this week (especially now the French are back from the beach!)

It's clear that the MMs will try and get this down but news could drop at any point and catch them out.