Member Info for Ssccss

They used AUD and UKP below. I assume would put AUD in front of $...so it probably is USD. Makes more sense. Not clear though.

The Company has arranged an equity capital raising, with existing sophisticated and institutional shareholders, and clients of Novum Securities Limited, of £2.0 million (AUD$3.7 million) before expenses, through the issue of 1,422,590,303 new fully paid ordinary shares (Placement Shares) at GBP 0.14 pence (0.259 AUD cents) per share (Placement). The Placement will be completed in one tranche by 12 January 2022.

I thought it was AUD not USD?

Does anyone else find the video ads on this page really drain their phone battery? Is there anyway to block them from running?

From the Q&A-

What’s the expected cost of the refrac operation? $1.8 million, subject to contract.

So if we have already raised 3.7m Aud and the refrac is 1.8 aud. Plus we are now in production apparently alternating 2 wells with good initial flow rates and high gas prices....so I am confused as to the maths of it all? Hopefully the quarterly report will clarify.

The company already raised £2 million last year for the refrac.

The Company has arranged an equity capital raising, with existing sophisticated and institutional shareholders, and clients of Novum Securities Limited, of £2.0 million (AUD$3.7 million) before expenses, through the issue of 1,422,590,303 new fully paid ordinary shares (Placement Shares) at GBP 0.14 pence (0.259 AUD cents) per share (Placement). The Placement will be completed in one tranche by 12 January 2022.

You have a great memory Gordon! Wish I had your memory.

Sure Mick, what I was confused about is how you are predicting a £1m raise?

"The refrac operation is estimated to be AUD 1.8m roughly £1m so the raise would probably be in the region of £1m?
They have also given estimated flow rates: "TBA when production stabilises, but we would anticipate between 0.5 – 1 mmscfd." approx £2m per annum in my view?"

Oh yes, forgot that was supposed to be brought forward. Looking forward to seeing the flow rates, placing details and quarterly report. Then hopefully, there will be better times ahead.

So Mick where has the money gone that was originally raised last year for the refrac? Does anyone know the details?

Sorry- typo - I meant to type "above .2p"

It matters because otherwise, how are you justifying your narrative that a placing will only occur at .2p? I'm just trying to understand your research.

It's bizarre because the company want some funding and you'd think they would publish figures relating to future income? One thing people do want to see/hear are details about how much oex are going to make now they are in production.

Jasper, it seems strange that Oilex did not to put these figures in the RNS? Or even in the Q&A? Very bizarre.

Jasper,

From what I have seen on Twitter and on here, it seemed your group's narrative was that we would get good news about the gas flow rates which would allow the raise to happen. But now you say the raise may happen before flow rates. I'm not sure I can keep up with all this information Roland keeps giving you.

SOS, the new gas price was in the RNS, or are you referring to the $60 per barrel?

Gordon, I think some posters are suggesting there will be an RNS on flow rates which will be so positive that the SP will inflate and the placing will be done above .2p. Surely, if the flow rates were that wonderful, we wouldn't need a placing? But I guess it keeps us all hanging on for another RNS!

Thanks for the clarity Mr. Investment.

Thanks Espen, will look again.

Mr.Investment, why only 0.5p on successful refrack? How are you defining successful? Is that an estimate of the SP before a JV is established and the field development starts?

Shame about the CCS, hoped it might be a faster process than that. Good to get a CoS figure though.