Member Info for spike912

Tea boy, can’t see why you would halt trading to confirm the purchase when you’ve released it to the market anyway?

Acquisition could be a sale as the RNS does just say “acquisition”

Substantial transaction. That’s the RNS.

So whatever it is, we are either buying or selling.

Flogging the 40% of Indian play, has to be worth more than the current mcap at £5mil

I hope it’s a sale not a buy, as a buy could lead to the same old dilution

Can’t see us being notified until Thursday so tomorrow will be very telling how the stock moves

Sadly I’m only in at 0.20 so for me it’s still a risk and not much reward, but I know many have been in
Longer at a lot higher price (I was about 18 months ago then sold), so I really hope it climbs again tomorrow

nm

Husk, cant see it doing 100% on poor news. Market tends to know normally before us mere PIs.
I would imagine the substantial transaction is either the sale of the 40% of the Indian asset or a purchase of another.
Odd to have a trading halt and the SP goes up nearly 100% on LSE.
Would like to think someone across the pond has given a few the heads up.
Even now we are only £5mil mcap so any good sale of the Indian asset for example could add another few million

sells? the bid is ticking up on the last three sells! could gap up tomorrow.

cant see the share doing this if it wasn't good news. if we continue this tomorrow.....now that would get some people excited

was up at 26/28 earlier, looking strong into close.

Reverse Take Over? ;-)

Either way if Joe comes in the middle of next month, you can forget the £1's for sure.
My target is £1.70 before results middle of next month, and on a successful drill (now more likely imo), we will be leaving £2 behind
Then FO or sale by end of year
RRE could be a suiter with the cash they have spare

That was what I said earlier, India will be sold on (OEX 40%). How much that would equate to I am unsure, or what it would do to the share price, but the timeframe certainly fits

Gazza, what makes you think OEX are the ones being acquired? that would be a trading halt in the UK also imo (?)

Next...so that discounts the need to allow a raise?

Smiley, its just how we pay for it, given OEX aren't exactly flush!

Cant be OEX being bought - read the RNS its an acquisition BY....ie being bought by OEX

Surely it has to be BHANDUT FIELD, GUJARAT, INDIA
(Oilex: Operator and 40% interest)
Oilex holds a 40% equity interest in the Bhandut Field, with GSPC holding the remaining PI. Previous drilling in the Bhandut Field intersected a number of hydrocarbon zones, some of which produced historically and are now shut-in.
The field is currently on care and maintenance, however, the field has ongoing nominal production and exploration potential, coupled with existing production facilities.
During the previous quarter, GSPC commenced a formal process to dispose of its PI in Bhandut. Oilex has a right of first refusal in the event that GSPC disposes of its PI. Oilex is also in discussions with potential buyers in respect if its interest in Bhandut. The cut-off date for bid submissions in GSPC's sale process for its Bhandut PI is 31August 2019.

or raise being worked in the background at higher rates?

Cant see it being Cambay. Looks a long way off reading recent RNSs, not something you would record as 'substantial acquisition'. I would have expected to see a straight RNS, cant see need to halt trading on ASX if its a case Cambay resolved, imo that's not grounds for a trading halt on ASX.

Concern is any acquisition may need to be funded.

I am hoping this hasn't been hyped and pumped with the MM help

My worry is 'substantial acquisition' would surely mean a raise. They have no cash to pay for an acquisition, so it would be raise or shares?

Hey Smiley, ditto.
Hopefully its good news, just hope its not MM games, but the rise is certainly promising.
Lets see if we get the afternoon push, as its slowed the last hour, albeit that could be to do with some taking profit off the table

could be COB tomorrow ready for trading commencement, plus is ASX so you need to factor in time difference

….for a few million. 0.221p to sell.
that little shake and they still look they want more!