Member Info for Targaryen2

I suppose the 'offer' would be once the bids are in. So tintin may be right... once bids are in and offer is about to be made to highest bidder, then OEX can step in and match the bid and win it.

LOL Not sure that helps Gordon. ; )

I like that idea Mike. Should recommend it to OEX.
Yuri? That might be a good question to ask Joe, your personal buddy! lol
Option 2, seems to tie in with the extensions though... the bidder having to go away to raise more money etc.

"Oilex holds a first right of refusal where GSPC disposes of its 55% interest in the Cambay PSC."
Yes that is interesting phrase. I though this could mean:
1. Oilex has right to refuse any bidder who is not going to be acceptable working partner for instance or has terms that do not fit to Oilex... OR
2. Once a bidder wins a bid, Oilex can either accept it or match it. In which case the other party may need to increase their bid if they still want it.

Any thoughts?

Ok.... see what you mean now. Thanks! Would be good.

Ivan’s , not sure what you mean. It is gspc asset...their 55% stake of Cambay that is on sale.

I am not sure Gordon. It does look like that at first glance. But the way I see it, the ‘endeavour’ is more related to the formality of it...ie the paperwork. But as for the sale side...finding a buyer....they would have to do it within a timescale otherwise why would OEX surrender the arbitration proceedings etc. If you look at the RNS in Sept the wording was “GSPC has also committed to seek completion of the sale process within 90”. So they made a commitment...
I still think a deal will be done in principle by Xmas.

Mike you can’t blame bod for extension. It is GSPC who have done it. If I was in their shoes and I still had time I would also delay if I could get a better deal and more money out of it. I know it’s frustrating.....but I will give them until the 21st...atb.

Perhaps we get other news before then... Joe?

Was not what I would have liked....but....At least we know there are bidders. Now news of even more bidders. So 21st Dec would be their last chance since they HAVE to make the sale within the 90 day period as mentioned on the RNS.

Looks like it IS happening. 3 more weeks for end. We knew that anyway.... deal will be done by Christmas. This is the final chapter.....After waiting this long you would be mad to be out of it now.

I dont know what the market will make of it tomorrow. The impatient will move on....the brave and patient will finally be rewarded very shortly...

GLA

Wonder how many of you guys will be up late waiting for oex news re Cambay tonight?

Don’t know whether we will here any results.... but t least we will see if it has been extended or not. Tomorrow could get exciting if we don’t hear anything.... people may be more hopeful of a deal finally!

GLA.... not sure if I will b3 able to sleep so easily. Might just check in after AU open. See you there!
; )

Sorry not to get back to Mike... was out all day.
I am not sure if there was a min. Figure. But these were just my thought. The arbitration was cancelled due to them reaching an agreement that Cambay would be put up for sale by gspc.... I can only assume that the agreed period of 90 days was part of that agreement and so if they did not have another bidder then they’d have to sell it to oex. They already owe mo eg to oex...and whatever reasonable offer they made, they would have to accept within the timescale otherwise be in breach of their agreement and perhaps then oex could get the whole lot for even less...or even free.
These are just my thoughts mind.

I will copy this to another thread cos I don’t like the depressing heading....

Anyway, I thought I would change the negative heading....was beginning to depress me.

I am off again...duty calls... I expect the action will start kicking off tomorrow...ready for the weekend. Well....I hope for us long waiting patient people it is GREAAAAT news.
GLA

I don’t blame folks for being cautious here.
But they can’t keep extending it, can they?
They were supposedly committed to selling it within the 90 day period. Therefore, if there are no bids, then surely OEX could bid whatever low figure they wanted and maybe get it all! :)
ESP. Since they still owe monies to oex.
Who knows... hope it is the news we want...they we can say bye bye to this sp....
As we set off into the horizon....

Bids ending over the weekend. Gspc will consider the highest bidder or best bidder for them...and we will know ASAP who our new partner will be. Also will know if oex manage to secure more of a percentage.,..which is what I would like to see.

What’s happening here? If it was bad news why would gspc pay up? They must know they will have money coming in? IMO...

I wouldn’t want to risk it.

Wasn’t it 90 days from 24th? The potential completion of Cambay? I believe it was days and not weekdays? So by Xmas this should be resolved.

i Can’t imagine news will be straight away... but things will start to pick up next week imo.

Gecko, That is not nice...especially when it happens when you are out doing a hard days work....but it could have been worse.... just think if it had ended back at 4.00 or above.

Shake it off ...that’s all you can do. In the end this is expected to still multibag from this point. There is still lots of news we are waiting for. Today’s RNS does not change much,
Good luck all

Yes....looking good. No wild swings.

OMG..... what would a second language have to do with anything!!!! How rude!

It looks that way LB. mms hoovering them up for someone.
What was that crazy drop to 3:30.... just seen it at 8:37. The sp was nowhere near there at the time. Glitch? Or a delayed trade just gone through?