Member Info for Targaryen2

I can’t remember why it was shut in.... will look into that. If it’s the commerciality reason, then perhaps the new equipment Yuri mentioned might solve that?
Hopefully it’s not so expensive.

That’s interesting Gordon. Don’t they also have one well shut in at the moment which could quickly be brought back on line? Do you know what rate the new wells are expected to output?

Thanks

Gordon, don’t forget they will have another JV partner...and most likely money coming in from KLW by then too. :)

Hi
I believe most of the shares voted for were ratification shares.... ones already issued and just being agreed formally in retrospect.

There is the HOLLOMAN, and Lombard share issue which is future requirement.... but don’t forget they got it cheap.
Also, apologies for getting my figures wrong. I thought they were awaiting 3M Aussie $ for the Cambay outstanding costs. Just reread the RNS and it says US$. Which is in fact more!
Yay! That is approx. £2.4M we’d be waiting on.
I think they are expecting good news end of Sept...and with a rise in sp are planning share issue to pay for HOLLOMAN.
I think that’s fine.... cos in the long run it will be worth a lot more!
Like Yuri said, might be good to try to average down....but on any dips.

GLA. Ps. Looks like Align were right?

QS, I don’t mind them investing... I think their directors hold some personally.
It’s the mind games I don’t like.

Hi QS,
6 months ago and some, even before KWL and Cooper Basin, Align had put 1.6 as their target for OEX.
Apparently, according to some on twitter they bailed out in July. They ceased coverage.
Yet they still secretly follow and tweet about OEX? Why?

Lol.
Are Align still holding shares...anyone?
Tried searching on their website for OEX and it came up with ‘coverage ceased’? So why are they commenting on twitter then? Very odd.
Their last 1.60 if I remember rightly. Is it still that I wonder?

Align probably want to buy.... that’s why they want to see a drop... cash calls! Yeah? They are not independent advisors....
Like those penny share investment companies ... telling you what a great deal something is just so that everyone rushes to buy, only so they can sell before they then turn it around and recommend hey time to sell.... and it crashes.... with some poor s*ds left holding the baby.

What do they know? Lol. ;)
I still think there are many ways around this other than cash call.
:)

Lol. Yeah!

Unless there is more than one JV... in which case they can sell the 55% between eg 2 parties. That way they get to keep the £1.8 m for use elsewhere.... eg Cooper Basin.... KLW. That way OEX can potentially still maintain majority shares...? Just an idea. Who know.... we’ll just have to wait and see.

Or at least some sort of compensation Tintin. So I also think option 3 is a possibility or something similar. Eg. £1.8m (approx 3m Aussie $) will be exchanged for a portion of the 55% shares being sold and a third party (JV) will buy the rest. I believe....or at least would like to believe that OEX are sensible enough to maintain controlling shares esp after all this kerfuffle. So OEX would have over 50% IMO of course..... Fingers crossed. :)

Don’t forget they’re Aussies! Lol. Jokes! All you Aussies out there...love you all really.
:)

Yes, I agree Yuri. I tried in the past and lost... so gave up on that since I am not at the screen 100% of the time so can’t act on quick movements. Much less stressful this way... long term investments. I don’t mind traders. But I don’t like con artists and liars as some traders are.
Anyway... Looking forward to the drinks party/rave with Oilex in London. ;)

Changer,

The people selling are most likely just the traders who are always impatient. Want their pounds for a trade elsewhere because the Cooper Basin has been put off by 2 weeks. It’s too long for the impatient herd.
Well good luck to them. I just hope they can make it back in before this shoots up... and it will.
GLA

Good to see the clarification in black and white. But just as I had suspected. All good.
I had sent them an email to clarify the previous Cambay announcement as I am sure others have too. So it is good to see that Oilex have responded.

Glad about the Cooper Basin date move to October. Gives them some breathe space. There was so much going on at once! Not enough hands. Wow. Future looking bright!
GLA

Not necessarily.... because if they ‘buy’ at a discount and resell a portion to another investor or partner for a higher figure... they net the difference which then allows them to purchase the rest at their discount.... hence they end up with a bigger share.... more than 50% I would think.

It’s all about completing the sale at exactly the same time for all parties concerned.

Don’t think GSPC are that nieve. They would have a condition in their deal that OEX can’t do that. That’s why I think the condition would allow Cambay purchase at a discount to compensate OEX for lost money etc
Just my opinion of course. Like I said let’s wait until end of Sept when we may hear more about the terms of the sale.

Hi Conger2,

How did you email them? I can’t seem to get through via the website. It doesn’t work. Keeps asking for a phone number but doesn’t recognise it when you put it in.
Do you have their email address?
Also...Would be interested to find out what or if they reply.
Thanks

I agree Gordon.... farm in yes. Raise... not sure it will be so immediate...but yes down the line.