Member Info for teraferma

15M @ 0.25p decent size buy

Vestor Hoping for news this week regarding PSC renewal and possibly New partner for Cambay and funding details. But we'll see..

They don't have to repay Oilex in cash, a % of Cambay would do!!

http://www.dnaindia.com/business/report-gspc-to-sell-stake-in-gujarat-gas-reduce-debt-by-rs-3200-crore-2595572

Hi Cookie, Yes I spotted that change in tone. They are hoping for it to be awarded EOM, but as you say I expect it sooner. With regards to SP, I'm not too sure that it will have a massive effect on the SP, however, as I have said before, I think this this will be the trigger for other events, (New strategic partner, GSPC payments etc) FWIW. I think GSPC will give up roughly 30% of Cambay in lieu of monies owed to Oilex. Oilex will then farm down as well to leave the new partner 40-50%. This should give sufficient funds for the two vertical wells. AIMHO

Weirdly the shareholding list has just been further updated so Rock now own 9.04%

Not sure but they have increased their holding but there has been no RNS to notify this. It's a nominee account so who knows? http://oilex.com.au/investor-information/aim-rule-26-information

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?

https://www.thehindubusinessline.com/economy/centre-sets-sights-on-shale-as-cbm-recovery-sees-progress/article22764554.ece Worth a read

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.