Member Info for smileywiley

that all the rampers are finally gone from this stock. twitter is such a safe space now. thinking align believes there is room to get this even lower, thus their purchase not shown yet!

But agreed pretty much to what you said gordon. I guess i interpreted the court ruling as a win to oilex because it stipulated that “GSPC has to continuously pay for the cambay expenditure until arb is solved or commercial settlement”

Irregardless of what the court decision is, i honestly think that oilex has an upper advantage in terms of buying out cambay, given the financial distress GSPC is facing. Note, they possess a shy amt of less than us1 million in their bank acc as of march 2018. That’s something the bod in oilex will definitely take advantage of ( take note in the previous RNS that the bod noted it). So even without legal actions, oilex alr has the upperhand in cambay stake. I’m just suggesting that in the event that oilex were to purchase cambay ( note that the us5 million cashcall gspc owed us definitely wont buy us the whole of cambay), they can tap on equity financing which will be priced at a significant premium compared to what we are at now. ( why? Corp finance of oilex would be able to factor the cambay asset of 100% in their balance sheet and thus, the high significant placing price). This placing would be used to fund the purchase of the existing cambay asset, alongside the cash call owed by gspc.

Hi gordon. Good day to you. What i believe gspc wants is cold hard cash ( hopefully some of cambay leftover) in the event that they divest this asset. The BOD have been doing alot of equity financing instead of debt financing for obvious reasons ( a small capex company that does not want to run into a likelihood of insolvency). But i believe that in the event gspc and oilex settles for cambay to be fully divested to oilex ( for oilex to sort out the farm out deal), the bod would be able to place an equity financing at a premium price simply bc of the huge underlying asset they are about to purchase. The CFO ( who is CEO of BLOE) definitely knows the rule of trade off theory. Dont take on more debt than ur firm can take on lest it goes into financial distress. And the reason why @ a premium is simply bc oilex can now include this huge asset in their estimation of placing price given 100% PI of cambay ( instead of keeping it labelled as contingent resources)

Even oilex, a way smaller company compared to gspc has more cash balance in their bank acc. Oilex BOD words of "them being financially constrained" remains true. As such, I strongly believe the dominant strategy to sort this whole issue is by paying cold hard cash to gspc in exchange for cambay PI to be transferred to OILEX. Suspecting another equity placing for this purpose, but at a significant premium price compared to what we are at now for 100% of cambay. AND Oilex would finally be able to start unlocking the damn EP-IV reservoir with the 2 vertical drills (hoping it's successful) thereafter a horizontal drill.

dude. i was reading up on gspc. as of 31st march 2018, they had 6.92 crores = slightly less than 1 million usd in their bank account. Dude. GSPC is legit broke.

well chancers. i did not bully you in any sort. pls note within any of my statements that it was about facts. facts :-) please do get back in. you're most welcome. just dont take too long. tbh chancers, idrc about your trading account. to hell with it. all i care about is oilex bod getting drills in on cambay. ah, see the difference there? there's some chance here to make good money if that happens. hope thechancers will bring that chance to light :-)

i laughed at you so hard for such a personal attack, and it went missing as i was replying you. sobbles. here's 500 pounds for u! (come and get it from your booohoo). boohoo for you when news strikes here. i'll be laughing to heaven and i'll see you boohoo yourself.

Followed u alr

The one that replied hallelujah to align.

Well gazza. Align are investors like us, and i do believe them because in their guidelines of research, they can be sued for spewing fake news out from their mouth. I definitely would not think that align speaking with the managment is something fake.

See their twitter yuri! They spoke with the management and the management said that it was “ deemed a non issue and completely immaterial”. Sorry for those that sold out. To me, it just reconfirmed my theory of GSPC throwing out whatever cards they have left ( nothing i can think about anymore) to try and retain cambay. Onwards for oilex.

Align spoke with the management with regards to the article. As interpreted from my chain of message. It once again proves the last minute effort by GSPC to thwart this contract. Onwards to getting this deal done. It proves to me once again cambay is a BLOODY valuable asset GSPC refuses to divest. Remain confident in the board of director. buy call.

@thechancer

just to point a few things too.
1. this current bod has finally gotten things moving for cambay compared to those before 2017. They want to start back on drilling through a farmout deal. how smart and cunning can that kind of financing be.

2. Oilex would enforce their rights in JOA to take over Cambay. did they not say it? Even if they were to start arbitration, and the 6 months wait. Note in the high court RULING, GSPC are FORCED to pay for the existing cambay expenditures.

3. Contracts have been tabled since november 2018, and the most recent one was 20th march (i suspect there's already a new one on top of that, given no news due yet). Do u happen to understand why there's multiple contracts drafted? it's not 1 party saying no to it and goodbye. Oilex is frustrated given how GSPC is full of red tapes (obviously bc they are operated 78% by the Gujarat govt). Thus, OILEX giving a damn DEADLINE to them and said it "in the very near future". Point being, this settlement is expected to be completed. Note, bhandut assets might be included in such a sale (oilex wants to divest bhandut, but there seems to be ?? on what's happening since then). Note that GSPC has already said they plan to divest bhandut. So there's definitely alot more that meets the eye.

So thechancers, i hope that your loss of 500 pounds is well deserved. I honestly hope that you would be able to invest into oilex before such settlement is stipulated. It's true you have an awful lot to learn, given your bad investment choices with your "8 investment thesis" that made u sold out. Aim is not meant for the weak hearted. I'm holding, despite my avg being on the little high. my confidence in the oilex BOD remains as such in them getting 2 vertical drills done to turn this company cashflow positive. seems that u lost heart, might as well not visit this bb and go back to your boohoo. thanks.

i also cannot see how this current bod are finally sorting out the mess the previous bod have got themselves into. definitely bad leadership from their legacy. but, give the new ones a chance. afterall, the current bod are INDEPENDENT. which means none has the incentive to fool us shareholders. yea. but just dont miss ur chance when this goes way upwards

yuri. definitely do agree with you on this. I can't stand it how they do not reply to emails send to them. The least they could do, was to update the market on what exactly is inside this commercial settlement, and what they are targeting at. Unfortunately, if I was in the BOD shoes, I wouldn't bother updating shareholders given how there is no "concrete" contracts being signed by gspc, and thus not even RNS worthy. irregardless of this, I do expect this cambay issue to never be a smooth one. But, given the no nonsense BOD that are running oilex now. i'm seriously expecting them to be dealing this head on with gspc. In the event this is true of oilex cutting corners with cambay, I do expect this share price to plummet even more. But, i expect some sort of settlement between oilex and gspc in terms of an out-of-court settlement and the drilling of cambay to come online, conditioned on the fact that oilex would not cut corners, and that gspc staff would be in charge of supervising it. But, if Oilex BOD finds this to be untrue, GSPC would essentially be wiped out of their stakes in cambay with oilex BOD claiming 100% stakes, leaving 0 negotiation rooms with GSPC.

Of what gspc is trying to come up with now, they stand almost perceptually ,0 chance in fighting with oilex. Anybody xan easily claim that they have been cutting corners in a company. Moreover, w.r.t the indian elections. It’s quite obvious mody’s govt stands a significant challenge, with many multi billionaires siding the opposition party ( they have large influence over the general population voting). If modi loses his election, it is safe to say good bye to GSPC. Gspc knows it and thus, them settling their large amt of debt by may 2018 ( smartly before elections comes to a close). Once again, gspc has proven to us that cambay is indeed a resource that they do not want to lose ( thus such a claim by gspc) cambay. The only thing that puzzles me is why is news released on petrowatch, and not on the RNS by the company? Surely, smth is gg on. And we are clueless about what is happening. Thinking there might be a RNS by this coming monday.

Gspc is looking to gain some grounds in their dispute with oilex. An unfortunately, oilex has been already given green light by the government for the PSC extension. As suspected, this issue seems more complicated, but it’s a case of who has more “legal liabilities” now compared to the other. In some sense, gspc seems to be trying to counter oilex in such an approach. Lets hope that JS, with 32 years of experience in the oil and gas industry has something up his sleeves. Indians are not as dumb as they seem to be. They are crafty to try and exploit as much as they can when they are in a loss. And if they are going down, they will wanna bring u down with them. If this is true, it looks like the Last attempt that gspc is trying to get at oilex. But frankly speaking, i feel there isn’t a need to worry with regards to such a claim. The source writing petrowatch seems to be very pro gspc ( see the way he styles the rest of the other news). Unfortunately, i cant read deeper into the article. But, i remain CONFIDENT in the bod, knowing that they have at least 32 years of experience in dealing with indians. Not easy, but if u are as hard headed like JS and armed with experience, gspc stands no chance bullshitting with oilex.

I told you i dont give a damn whether we get anymore of cambay or not. But if they sort this problem out, and get the drills started, to turn this company into a cash positive one. That’s what will truly intrigue me. So beadle, learn to think first before u speak. That’s something i encourage you to do.

I expect an apology here from you when this company hits above 0.5p with news on cambay.