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The discovered gross in-place reserves of the Cambay Basin block near the town of Khambat, 160 km South of Ahmedabad, have been independently evaluated by Netherland, Sewell and Associates Inc to hold 1.314 trillion cubic feet (tcf) of gas and 1.633 billion barrels of oil, the company said in a statement.

Of this, 484.7 billion cubic feet of gas and 83.3 million barrels of oil were deemed unrisked and recoverable. Oilex has drilled many wells in the Cambay field and had announced that ..

Read more at:
//economictimes.indiatimes.com/articleshow/10376603.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Shut up bigbench! You still posted it and you cherry picked the details you wanted, which out of the article are incorrect!
If it aint correct i.e a blatant ramp/de-ramp then don't do it simples!!!!!

Might be to you! Its misdleading to eveyone else though!

Wrong! That's totals in place, recoverable volumes are way way below those figures!

Of this, 484.7 billion cubic feet of gas and 83.3 million barrels of oil were deemed unrisked and recoverable.

Of this, 484.7 billion cubic feet of gas and 83.3 million barrels of oil were deemed unrisked and recoverable.

No they dont

http://www.oilex.com.au/projects/india/cambay-field

Retour I do hope you mean significantly increase the COS.......

Not sure what your on about but OEX website is down across all platforms, nowt to do with LSE now or previously

Oilex website down not LSE lol

someone is dicking around.......

GSPC only have 3 options as OEX have taken legal steps to protect their interests.
1, Go to arbitration to settle
2, Reach An amicable agreement with OEX
3, Walk away and leave Cambay to OEX.

GSPC have per the RNS commenced arbitration through the SAIC who are the third party if you like. GSPC can withdraw the proceedings at any point if they come to an agreement with OEX.

19 November 2018

ASX: OEX

AIM: OEX

Update on Cambay Dispute

Oilex Ltd (Oilex or the Company) advises that it has received notice from the Singapore International Arbitration Centre (SAIC) that Gujarat State Petroleum Corporation (GSPC) has invoked the dispute resolution provisions of the Cambay Joint Operating Agreement (JOA). Pursuant to the order issued by the High Court of Gujarat, India (the Court), as announced by the Company on 5 November 2018, GSPC was required to commence arbitration proceedings on or before 1 December 2018.

Yes they got the ball rolling early

RNS's 16th Nov
C) GSPC shall commence arbitration proceedings on or before 1 December 2018.

It's ONGC not GSPC! But could they be raising to acquire a larger project? Cambay is of national significance........GSPC are in deep doo doo

They proceeded on the 19th Nov it was RNS'd

Doubt it an FDP has been submitted OEX just want GSPC to meet the terms of the existing PSC, its simples really! So could be any day!!

Call me when ya kecks are around ya ankles and the morning sun is warming ya cockles!! lol No idea what happened there!!