Member Info for teraferma

I have to agree with you Cookie10. MC presided over the most calamitous period for Oilex (and that's saying something). If Oilex had implemented the cautious approach prior to 76 & 77, rather than the cavalier approach of BM and RM it wouldn't be in this mess. I still find it staggering that no core analysis was done prior to either of these two wells, how did they think they would successfully stimulate a long horizontal well with no studies. Having said that, this is now priced as a failure and so there might be some value going forward if they can retrieve some money from GSPC and Bhandut sale and drill another well. (alas probably not for LTH)

https://oilex.com.au/docs/default-source/reports---annual/171030-2017-annual-report-to-shareholders.pdf?sfvrsn=0

Conger I echo everyone else's best wishes always a tough decision to make. I too found no real positives from the 1/4 report. A meager US$112K received from GSPC against an outstanding amount of $5.5M doesn't fill me with hope for the remaining debt being settled. Cash burn for the three months was �1.32M against current cash or �1.12M, (not good) although I imagine that there were several one off costs involved paying Schlumberger and Baker Hughes. They do seem confident of Bhandut sale (but surely no-one would buy this as the PSC renewal has yet to be agreed?) From the 1/4 report: "The cash position at the end of the quarter, cost reduction strategy and together with the possibility of further cash inflows from payment of cash call arrears and or the sale of Bhandut is anticipated to assist the Company in being able to defer any significant equity issues in the near term" All in all, they seem to be going into hibernation for the winter and hoping that spring will bring some minor miracle.

Good luck skuncik, I hope you recover your losses. I think you might have gone too soo. Annual report and quarterly reports due this month, not expecting any further nasties, but could see further payments from GSPC, which would be accompanied by the inevitable spike in Oilex sp .

So... Annual report due next week, (not expecting anything of note). Then of more significance, quarterly report end of Oct, when we will see if GSPC have coughed up some more money that they owe OEX.. Looks like they are preparing a new website, as it is down again!! (Not holding my breath)

Ajax Try https instead of http

Is it just me, but I can't get on it?

I’m beginning to think a consolidation and fund raising for a new acquisition might be on the cards, would explain the constant selling at these low levels.

Looks like it.. Can't even get on the Oilex website at the moment..

Guod I read in the recent financial report that there is still outstanding money from the Sabarmati field JV, which Oilex relinquished sometime ago. Just amazing how the board allowed it to get to this situation

BP I appreciate they are owed money by GSPC, but you mentioned a specific amount which is not mentioned in any RNS, just wondering where you heard this other than on twitter?

Burmesepython How do you know that a �800K payment is due to Oilex shortly? TIA

http://oilex.com.au/investor-information/aim-rule-26-information

HISO According to the shareholder register that would make you the 5th largest shareholder in Oilex, I think you better contact them to update their register... ;-> Zeta Resources Limited* 121,323,567 7.14% Magna Energy Limited* 114,320,284 6.73% Barclayshare Nominees Limited 94,138,362 5.54% Curmi and Partners Ltd 73,604,878 4.33% HDSL Nominees Limited 60,516,249 3.56%

There's the late big buy I have been waiting to see, looks like they dropped the sp to fill it. Looking good for tomorrow

One takeover at a time is not enough for Zeta Resources https://stockhead.com.au/resources/one-takeover-at-a-time-is-not-enough-for-zeta-resources/

Something is brewing.. so maybe the rumour is right..

Of more significance to me is the volume of trades on ASX over the last few trading sessions, highest for quiet a while.

All sells today, but price holding up. Will we see another large buy reported later?

INDIAN AFFAIRS CAMBAY & BHANDUT PROJECTS Non–payment of cash calls by JV partner, GSPC placed additional burden on Oilex. • Further payments of both old and new cash calls expected Potential sale by GSPC of its 55% interest. Oilex holds pre-emptive right. Cambay PSC expiry in September 2019. Field development plan completed and lodged as extension application in September 2017. GoI approval anticipated in early to mid-2018. Potential sale of Bhandut project