Member Info for TheWetBandits

Sorry, Ouzo65. I totally understand - in the interest of transparency, I recently reduced my exposure to a 20k ISA in this because of the potential delay in GOI approval - used the Cambay sale rise to do that. Doesn't make me any less determined about this, just got to react to the news and potential delay with realism. So on balance, I believe you have made a good call, I just wouldn't want to be out of it either. Sometimes I don't think about it enough from another person's point of view. Hopefully you get a buy back in price worthy of Mordor and then the Gazillionaire is on the cards haha.

All the best mate.

haha and the above ladies and gentle is the difference between good hearted banter and the other stuff we've had to put up with.

Absolutely no idea why it's at 0.22 after today. Maybe just people can't be arsed waiting a few weeks for GOI approval and so they've hopped into something else which is going to make them a GAZillionaire overnight. Atb.

Take that point on board Gordon, but buying to sell on - to me that seems a very painful and long drawn out process when there is a lot more potential in exploiting the resource in partnership. If you want fun buying and selling bits and bobs just go on Macca's favourite TV programme - cash in the attic.

The company is on a major recovery path - the previous person responsible for not reporting figures correctly was sacked and the company took stringent, serious measures to ensure it never happens again. Renold are regularly audited and I imagine Deloitte will just want clarification on a matter due to what has happened previously. A frustrating delay non the less, which has scared some people. IF someone else has come in and acted unlawfully then that is just criminal for being allowed to happen as the business is performing very resiliently.

Load of tosh that Conger - Joe has more than done his bit and got the Cambay deal over the line, in what it sounds like difficult circumstances - I have a lot of experience dealing with offshore resource and communication is sometimes not easy. Once GOI approval comes they can choose to do what they want with that site. Either way they are in a much stronger position than they have been in sometime. I personally believe they will crack on and continue to develop Cambay as a resource. Don't see why you would go to all that trouble buying it to just sell it on again.

We need a someone steering the ship that can open us up to new projects and ventures and thus, revenue streams - this has to be the right way to go - no-one wants to see this dwindling around the 0.20-0.30's forever. Moreover, Joe will stay on as an Exec so I don't see an issue at all operationally, only positive. Gla.

Yeah he’s been let out of Shutter Island for the afternoon, think he needs to check back in by 8pm local time.

Can see further positive results this week and the share price kicking on again. One of a number of great recovery stocks for 2021 and 2022. Gla.

I think Gordon is a realist actually, which you would much prefer rather than some mug telling you just want you want to hear. Also, he is invested now so there is no hidden agenda here - he wants to see it move quick just like the rest of us do.

BUT - the reality of the situation is that we have a placing to churn through (cash very much needed to complete cambay projects) and a GOI approval that could take a few months. So there is no reason for this to do a 1p until we are back in the filed with a potential JV partner. In 6 months time you could be extremely well rewarded for this and if they commercial the gas from the wells we are talking Multi bagger, no doubt. Patience and realism needed, not stupid ramping without any context. When it goes, you will know about it. GLA.

Can anyone kindly point out when the Tranche or cash raise will finish / elapse? Because once the fund raising has finished we can then properly look forward to GOI approval and getting potential JV partner and hitting those wells!

Gla

More than happy to have Irish Sea as a project running in parallel if they have the resource and providing it doesn't affect Cambay progress. Prep has been done on Cambay anyway and something needs to keep them occupied while we wait for final GOI approval on Cambay. Be flopping brilliant when we see some activity on these wells.

I will add - I don't know why Government of Indian ratifying the deal takes months. Does anyone know why? I wish the Sharetalk interviewer noob would have asked. But Joe didn't seem bothered at all - he knows the hard bit is over with.

Extremely good interview that from Joe. He came across precise and explained it all eloquently and crucially to me sounds an honest, straight up guy. Totally investable. He knows that although this wasn't the RNS that BOOMS, releasing the shackles of GSPC and getting total control of Cambay is huge for them because it's been holding them back for years. I am 100% adding more to this, I don't need it to happen overnight but I am completely confident Joe and the team will as he put "rejuvenate" the company. RJ - feel free to fantasise. GLA.

Hahahaha. Funny. I don’t mind positivity at all - I welcome it. Just tired of reading THREE PENCE, or ONE PENNY with no real though about what the RNS really. Either way, it’s an important part of the jigsaw today - GOI approval will be great progress too and then I might actually get excited myself. That sounded weird. GLA

well yes, UKOG is full of them.

“Richard Jones is a fantasist” - you need to get real Richard or that is going to stick lol. Gla

Guys this will do what its just done - pop 20% and then profit takers / penny flippers will take their couple hundred quid, while the MMs in the background do their thing. This really needs the JV news and commencement of field activities (digging the wells) before it is going to do the big rocket. and as we motor through the final cash raise / tranch I will imagine there will be more opportunities to buy stock before the real boom - she is just clearing her throat today. Stay realistic / patient and it will come. GLA.

I mean it was a joke Jasper, but thanks for the tolkien-esque response.

Gla.

Haha Jasper re: your above post (I have a communication line with Oilex IR Team) with you might as well have replied

"I know people".

Gla

Couldn’t give a monkeys about share talk. I think if you start looking too much int things that people spout on Twitter then it’s you might as well spin a roulette wheel in terms of whether it’s truthful or not. It might be, it might not be. I would of course like for joe to update us but ultimately - he’s given us a timeline for the end of this month so it’s not long at all until they either deliver on that timeline, or communicate to us an extension due to COVID or any other operational factors. GLA.

Yes disappointing in terms of the retreat in SP today after yesterday but that’s what these stocks do until the news / potential is substantiated. They are highly fickle. For me I think any entry under 0.25 is exception - that would be a 4 bagger to 1p. And remember - they did not say the news is expected the week of the AGM, they said in the RNS the news is expected end of Q2 which is the end of this month. So let’s see what joe says before people start resigning their King. Gla