Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Gordon
Nothing wrong with trading any stock to make a profit, that's what we're all here to do in any stock but I believe the point being raised by Jrl, albeit expressed in a manner that you don't appreciate, is the transparent hypocrisy in the posts.
Suggesting 0.2's having sold, a figure plucked from the ether, compared to suggesting the opposite with reasoning for being so undervalued when he held stock prior to last Tuesday, combined with lines, such as:
_____
"I suspect it go over 1p maybe near 1.5p even on the day"
"Mass game changer ... 1p plus."
"So I really thing 1p is not unrealistic in short order"
"5 bagger on here on news... "
Etc, etc.
Ibrox
Y es, quite transparent.
Conger
That's exactly what you wrote on Friday too, no doubt hoping for a lower 'buy back' price after selling on the Tuesday.
______
Conger2
Posted in: OEX
Posts: 444
Price: 0.32
No Opinion
RE: Conger is out ----07 Apr 2021 15:34
Just worked out my average sell price was across 7 deals of 5m each ie 35m shares on Tuesday was .45 have to be happy with that.
Gareth
'how some see ir' .... or just purport to see it.
Each to their own and my interest remains solely in my own investment choices.
:o)
To keep focussed on, and the MD couldn't have made it clearer for the listener in his recent interview.
_____
Joe Salomon interview this week.
Salient points:
______
"The potential here is large"
"Any Gas that you can get into the main trunk line in India, effectively gets the price of LNG imported Gas"
"We know the Gas is in the ground"
"We've done a significant amount of work in looking at how to effectively stimulate the wells to increase the Gas flow rates from the low flow rates of the past, to commercial flow rates of the future"
"it's not a complex process"
"to increase the Gas flow rates to very, very, commercial rates"
"the Company is back to a clean and clear state"
"back in control of our destiny, so that's a really major outcome"
______
Note, LNG import prices to India hit a high of around $18 per Mmbtu in January, which would value the 900 Bcf of contingent resources, stated by JS, by getting the LNG import prices, at around £ 11 Billion !
Additionally, there's the 55% mix of Oil / Comdensate to add into the mix too.
In the RNS:
_____
Oilex Ltd (Oilex or the Company) is pleased to announce that GSPC has provided notification that it has approved the sale of its 55% participating interest (PI) in the Cambay PSC to Oilex for the purchase price of US$2.2 million ('Purchase Price') (the 'Transaction'). The Transaction has also received the approval of the state government of Gujarat. Following completion of the Transaction, Oilex will hold a 100% participating interest in the Cambay PSC.
_____
The sale of the interest to Oilex for the 'purchase price'.
Small amount next to the 100% interest of the £ Billions of Gas and Oil potential in the Cambay that OEX gains.
TWB
I don't think it's a question that anyone here can answer but, given this in the RNS:
_____
Update Regarding Cambay Settlement
Oilex Ltd (Oilex or the Company) is pleased to announce that GSPC has provided notification that it has approved the sale of its 55% participating interest (PI) in the Cambay PSC to Oilex for the purchase price of US$2.2 million ('Purchase Price') (the 'Transaction').
*** The Transaction has also received the approval of the state government of Gujarat. ***
______
That's an endorsement in itself and JS sounded very bullish when he stated in the interview:
_____
"back in control of our destiny, so that's a really major outcome"
_____
Jr
For a moment there, I thought you had murderous intent !
:o)
I'm just keeping my focus on the interview a week ago, which is the most recent communication from the company, also the Oil / Condensate ratio of 55% and also having the opportunity to achieve LNG import prices for the Gas.
_____
Joe Salomon interview this week.
Salient points:
______
"The potential here is large"
"Any Gas that you can get into the main trunk line in India, effectively gets the price of LNG imported Gas"
"We know the Gas is in the ground"
"We've done a significant amount of work in looking at how to effectively stimulate the wells to increase the Gas flow rates from the low flow rates of the past, to commercial flow rates of the future"
"it's not a complex process"
"to increase the Gas flow rates to very, very, commercial rates"
"the Company is back to a clean and clear state"
"back in control of our destiny, so that's a really major outcome"
______
Note, LNG import prices to India hit a high of around $18 per Mmbtu in January, which would value the 900 Bcf of contingent resources, stated by JS, by getting the LNG import prices, at around £ 11 Billion !
Additionally, there's the 55% mix of Oil / Comdensate to add into the mix too.
:o)
An example of what Gordon was referring to, from an Align Research note back in 2018:
_______
News out this today regarding a capital raising at Oilex with existing shareholder Republic committing just under £200,000 in equity & £138,125 in conv loan capital is good news for all shareholders on many counts. Firstly, with the all important court hearing in Gujarat due next week on the 19th it sends a strong signal to GSPC that the company remains well funded and is prepared to continue to assert its rights ref the default on GSPC’s part.
Secondly, with funding securing the company into 2019 on the current cash burn, should the hearing next Wed result in a lifting of the Stay we would expect farm in discussions with other partners to commence in earnest. The Cambay block is a major asset in the Indian province and as per our note HERE we expect workovers to commence sooner rather than later should clear title over 100% of the Cambay Field be reasserted in Court. We make the point that our price target of 1.60p was based upon 45% current ownership of the asset and not 100%.
We are also informed the placing UK side has gone into solid hands who are in for the build out of the business and not a quick flip. With this raise now being the fourth time Republic have committed to the company this also illustrates the confidence they have in the underlying asset and the end process now being in play ref the receipt of 100% ownership of Cambay given GSPC’s default. We maintain our Conviction Buy stance given the risk/reward multiple and in illustrating this have participated in the placing. Should the court stay be lifted we expect a meaningful re-rate in the stock next week.
Mrbrown
That's just a a wild guess you've made.
There are numerous options available to them, as Gordon has touched on, and they've many other interests of value that could raise funds.
Thanks Pacman. :o)
Marcw1, I may have to make a claim of plagiarism for use of the expression 'heady heights'. :o)
Can't see that Arahim
Shares already issued and see 'outlook '.
RNS:
_____
Martin Hull, Echo's Chief Executive Officer, commented:
"I am delighted that Echo has now successfully completed the restructuring of its debt obligations. The new arrangements result in no cash payments to Noteholders until maturity in 2025. This enables the Board to focus on rapidly delivering on its strategy to improve shareholder returns.
Commodity price strength, including the very material increases in gas price recently announced, combined with the more than doubling of oil production following the ongoing infrastructure upgrades, provide a markedly improved and positive outlook for shareholders.
This is a landmark moment for Echo and I am confident that we can now drive forward and reward shareholders in the future."
With the Proposals approved by Noteholders, the Company will issue a total of 11,473,929 new ordinary shares in the Company (representing c.0.9% of the Company's current issued ordinary share capital) to Noteholders pro rata to their voting instructions cast in favour of the Proposals at the Noteholder meeting (the "New Ordinary Shares").
Application has been made for the 11,473,929 New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur at 8.00 a.m. on or around 1 April 2021. Following Admission of the New Ordinary Shares, the Company's issued ordinary share capital will comprise 1,219,367,987 Ordinary Shares, none of which are held in treasury
____
Thanks for the update on Align, Pacman, appreciated. :o)
Pacman
Glad he's upbeat. :o)
Don't know why he 'recalls' the tests not going well though and the region needs both Oil and Gas.
Here are the test results from Cambay when the share price briefly hit the heady heights of 12p, or todays equivalent of 2p, when equating number of shares now in comparison to then.
From the RNS's.
______
July 2014
CAMBAY-77H - Flaring Gas and Light Oil Recovered in Clean-up
  --    Strong clean-up hydrocarbon flow encountered following mill-out operations
  --    Gas flaring operations have commenced to ensure well-site safety
  --    Light oil/condensate flows to surface during flow-back and recovered for sale
  --    Higher than expected light oil/condensate flows particularly encouraging
______
August 2014
CAMBAY-77H - Interim Flow-back Update
  --    Cambay-77H continues to recover light oil and frac fluids
  --    Encouragingly, no formation water has been encountered during flow-back
  --    Flow-back results continue to show evidence that Cambay-77H can be a high performance well
Oilex Ltd (ASX: OEX, AIM: OEX) is pleased to announce that Cambay-77H continues to produce light crude oil and gas as the well recovers frac water during clean-up.
Cambay-77H crude oil recovered from flow-back operations is currently being transported to a nearby refinery for sale, where it attracts a price similar to Bonny Light Crude.
______
December 2014
--Â Â Â Â Cambay-77H was designed as a Proof-of-Concept well with a short 350m lateral
  --    Initial production over a 24 hour period of 2.03MMscfe/d, 55% hydrocarbon liquids
-- An oil to gas ratio ("OGR") of 100 bbls per MMscf of gas in the Cambay-77H area remains valid - some 250% higher than extrapolated from Cambay-73
-- Increased OGR adds 40% revenue per MMscf of produced gas using price assumptions of US$8.00/Mscf and US$70/bbl for gas and oil respectively
The results clearly indicate recovery of significant volumes of oil and gas can readily be achieved. Importantly, Cambay-77H and the model confirm that the tight Eocene formation in the Cambay Field is amenable to this form of fracture treatment, leading to the conclusion that the Y zone can be commercially developed with this technology.
_______
Note, that last part, where they assumed US $ 8, when we now know any Gas can get LNG import prices if pipelined and that hit US $ 18 in January and the Oil price applied was $ 70, similar to tue current level and forecast to be far higher.
:o)
Steve
I think, and this is from memory, so apologies if not 100% to the precise calculation and I won't search for it now as I'm sure my better half is convinced I'm sending personal emails to other women when I post, oh the joys of lockdown, but, an Align Research note had this down as a target price of around 2.5p on a 70% interest basis, so with 100% interest, that would elevate their target to around 3.5p, or roughly ten times where it is now.
So, yes, surprising currently, but one hot day does not make it a summer. Often takes a while for the potential to be understood or to sink in.
Anyway, based on the glares, it's time to sign off.
:o)
On that basis alone, where any Gas they can get into the main trunk line would attract LNG import prices, nine times higher than the natural gas prices to India, combined with the 55% mix of Oil / Condensate, for me, is not adequately reflected, by a country mile, in the current Market Cap of £15 Million.
Not to be forgotten, this is not a 'wildcat' drilling expedition.
They already know the Gas (and Oil) is there and they know they can produce at very, very, commercial rates. No surprise, given the LNG import price relationship.
:o)
Joe Salomon interview this week.
Salient points:
______
"The potential here is large"
"Any Gas that you can get into the main trunk line in India, effectively gets the price of LNG imported Gas"
"We know the Gas is in the ground"
"We've done a significant amount of work in looking at how to effectively stimulate the wells to increase the Gas flpw rates from the low flow rates of the past, to commercial flow rates of the future"
"it's not a complex process"
"to increase the Gas flow rates to very, very, commercial rates"
"the Company is back to a clean and clear state"
"back in control of our destiny, so that's a really major outcome"
______
Note, LNG import prices to India hit a high of around $18 per Mmbtu in January, which would value the 900 Bcf of contingent resources, stated by JS, by getting the LNG import prices, at around £ 11 Billion !
Additionally, there's the 55% mix of Oil / Comdensate to add into the mix too.
:o)
Steven
Different people, different styles of posting, different aspirations, different investing / trading styles and timelines.
If we were all alike, what a boring world this would be.
Additionally, to draw a positive from repetitive participants, the greater interest, equating to greater positive sentiment, could help catapult your £70k to something far more meaningful.
Never look a gift horse in the mouth.
:o)
I'm not a Royalist fanatic but Duke of Edinburgh news. Sad.