The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Shareholding list has been updated, I don't remember Rock having a larger % than magna and zeta. Interesting Shareholder Shared Held % of issued Capital Rock (Nominees) Limited <CSHNET> 154,380,710 8.26 Republic Investment Management Pte Ltd * 131,578,948 7.04 Zeta Resources Limited* 121,323,567 6.49 Magna Energy Limited* 114,320,284 6.11
From the GM Notice: The Company is currently undertaking a conditional placement to secure funding of up to A$2,346,200 before expenses through the issue of up to 507,134,737 Shares (Placement). The Placement is being undertaken in two tranches: (a) the first tranche of 157,894,737 Shares at an issue price of $A0.0038 per Share to raise up to A$600,000 (Tranche 1 Placement Shares); and (b) the second tranche of up to 349,240,000 Shares at an issue price of A$0.005 per Share to raise up to A$1,746,200 (Tranche 2 Placement Shares). The issue and allotment of the Tranche 1 Placement Shares occurred on 29 January 2018 under the Company's 15% placement facility under ASX Listing Rule 7.1. The issue of the Tranche 2 Placement Shares is conditional upon Shareholder approval and the successful extension of the Cambay PSC by the Government of India for a further ten years on or before 31 March 2018 or such later date agreed by the Company and the investors. A few things i note from this: - They state the date of 31st March as the possible date of PSC renewal, are they hoping for a decision by this date? - No more share issues this financial year, as they have reached their threshold. (I believe 15% = 10%) no dilution? - Tranche 2 shares are valued at 0.283p north of current SP. I'm hoping PSC renewal will be the trigger for; a new strategic partner, a conclusion to the GSPC mess and above all, a correction in the SP for all long term sufferers.
I think someone is accumulating pre news. There have been batches of 3M buys over the last few weeks, with smaller sales filling these orders. Looks like the sells have dried up, will be interesting to see what they do with the share price. Anyone contemplating buying, prior to GM?
Nice find Callum, let's hope there is interest for our block. Can anyone get a quote currently?
Maybe the reason for the discontinuing of payments from GSPC, is due to them wishing to relinquish a percentage of Cambay to Oilex as payment, when the PSC is renewed. Oilex can then sell on a significant percentage to a new strategic partner, giving them enough capital for the two vertical wells. Here's hoping!!
Not many positives there.. On the plus side: - Looks like we will get PSC extension in Q1 - Prioritising the vertical wells over workovers. Cash balance looks low $1M and no further payments fro GSPC.
Hi Obone, Thanks for that, good to get confirmation that Oilex attended, albeit non of the top brass. An interesting note from the licencing round. Only companies with at least one years experience as operators (not sure if just in India) are eligible to bid for the new blocks. Since Oilex is one of very few overseas companies that have operating expereince in India, this might make them attractive to third party companies looking to JV for bids in the OALP, or possibly as a vehicle to entry into the Indian O&G market.
http://www.corelondon.tv/amerisur-looks-mining-future-post-war-columbia/
No problem.. I think the spike today was more due to swing traders than anything else as we are not expecting any news. I had expected some resistance at 0.29 but we went straight through, which bodes well. I did sell some of the shares I bought at 0.15, but will hold the remaining until at least 0.8p. GLA
ajax, beach-dude. If you are referring to me, I've had pleasure of being in OEX for longer than I care to remember, so no P&D here, as I only invest for LT. Only comment as I see it, as well as sharing most of my research, just ask some of the other long term holders. Regards TF
Wonder if Oilex might be interested in the Cambay blocks https://twitter.com/DghIndia/status/951455045337403392
Must be a biggish background buyer to warrant that. Golden cross will be confirmed in the next 3-5 trading days, with such a small MCAP, it's a big green light for upside potential.
The Directorate General of Hydrocarbons has proposed a 50 per cent waiver of cess from crude oil and natural gas produced through Enhanced Oil Recovery (EOR) or unconventional oil production project in the draft Policy Framework to Promote and Incentivise Enhanced Recovery Methods. http://www.thehindubusinessline.com/economy/policy/dgh-proposes-50-cess-rebate-for-unconventional-oil-development-projects/article10010341.ece
Trance one 0.215 and Trance two 0.283 and then your back in the room, with no idea how JS convinced you to part with your money.. So that's how he does it, the little magician!!!
Price holding well recently, been quite a few after hours buys gone through the last few trading days. Unable to get a quote online for any significant amounts.
Cookie, thanks again for the offer, i seem to remember you offering last year as well. It would be interesting to see how much interest there is at the AGM especially ii's. Questions: About funding; -How does he expect a �3M MCAP company with �1M in cash, to fund a $10M work programme? -Is the plan for GSPC to relinquish their percentage of Cambay in return for monies owed to Oilex? - Will the new strategic partner cover the remaining shortfall in funding? - What % of Cambay are Oilex looking to retain? PSC Renewal: - He has previously hinted at an early outcome of the decision, what is the realistic time-frame in his opinion? - How long after renewal decision will the work programme start? New Acquisitions: - Is the plan to acquire near production assets in order to have some cash flow, or fields with similar geology to Cambay where Oilex can use it's tight gas expertise!! TIA TF
Oilex has an impressive Indian operational team and does not employ any expats. The company has brought in Indian consultants to undertake a strategic review of the key basins in the country to provide a structured approach to finding oil and gas opportunities and following them up. In Australia, the area of interest is the mighty Cooper Basin, which is the country�s oldest oil and gas producing region. Oilex has a specific strategy and is trying to secure an opportunity which would represent a commercial oil play using a technological advantage that the company has and following recent new geological understandings in the basin. The management team is also looking at a steady stream of North Sea projects seeking to do a deal on an asset.
From Align Report Management plans to have completed dealing with all the legacy issues in H1 2018, which will allow real progress to be made. The two remaining issues are the licence extension for the two Indian projects as well as the situation involving JV partner GSPC These items both really rest with the government as the Director General of Hydrocarbons (DGH) is in control of oil and gas licencing and GSPC was set up by the Gujarat State government. Both matters are expected to be quietly resolved in a timely fashion over the coming months. A ten-year licence extension would take both projects through to September 2029. The resolution of the GSPC situation is more than likely to be achieved by bringing in a large financially-stable new joint venture partner probably assuming most of GSPC�s stake, with GSPC ending up with a small interest. To this end, Oilex has opened a data room and has been soliciting interest from larger international E&P companies in an attempt to ensure that the deal is secured for a preferred partner.