Member Info for Yuri1

Haha yeah definitely caught the bug, but I am becoming tired of not much activity. Well we all are...

Hope some time in 2021 we will be all rampy and busy with activity and lots of chatter.

I wouldn’t say jump ship. But there were times I literally thought, soon we are going to run out of money and have to sell everything off.

It would be foolish if I was to sell, I’m far too deep in the red. If anything, it would of just been that I no longer showed an interest in the company and started focusing on something new while waiting for a miracle to happen at this end.

It is exciting, and it will be a long wait I think with covid providing resistance.

I agree that none of us saw this coming and could potentially be the catalyst to recovery.

Kampar could/will be the engine powering oilex to finally establish itself in Cambay.

Then next stop Irish Sea...?

Callum,

So you’re saying SPE still hold the remaining % even though they are bankrupt?

Let’s not forget we also need funding for the Irish Sea on top of that and the new arrival of west Kampar too.

The board need to seriously make an effort in communicating with its share holders and providing us with a financial strategy and how they plan to execute all of this.

All I see is hopes and dreams and someone rattling a jar asking for change.

My condolences to all those effected from covid.

After clicking and reading the oilex share news it reads,

“Oilex Ltd - Aberdeen-based oil and gas explorer - Amends sale and purchase agreement with Armour Energy Ltd over disposal of Cooper-Eromanga basin. Extends completion date to October 15 from September 15.”

I thought Oilex was Perth based? Or have I missed the something?

On another note I check the website which still says Perth and I stumbled across a small update on the site containing this video: https://youtu.be/AAYOJhftNLk

Looks great and very exciting but this going to cost how much? And with what money?

Surely we are going to need a new major holder or joe somehow persuades the current holders to pour more money in.

Let’s have a reality check, we have no cash reserves and this is going to cost millions.

Exactly and no one is going to be allowed near him because of contamination.

Lol what? No he said that the Managing Director of GSPC is currently ill with the virus.

That’s whats now causing the further delays...

He is too ill to work. We have no idea weather he’s on life support or just in a bad way.

Either way we all hope he makes a full recovery so he can go home to his family who im sure are very worried for him.

Many of us knew, but it was you who let the cat out the bag on here lol.

India has also overtaken Brazil to be the second most effected country (America being number one).

We aren’t going to see any deal this year that’s for sure. The whole thing is f**ked.

Fair point, and if we have another partner, that number will be halved.

As a quick example....

The Parkland report pointed out that, “in 2016, the average profit margin for all industries in Canada was 7.8 per cent. Three of the Big Five — Suncor, Cenovus and CNRL — had net profit rates above 13.5 per cent in 2017, and Cenovus's profit margin was an impressive 19.4%.”

So if we use this as a guide, it could vary from $35,100 bottom end all the way up to $87,300.

I know it’s canada but I can’t find a Indonesian example but I expect it to be similar.

All we have coming this year will be the finalising of the deal if we are lucky.

I can’t see any progress myself on anything else until sometime in 2021 thanks to covid.

Though we should get a Irish Sea update in December.

Yeah we all know that tactic. Go bust and you can get away with anything. I bet all that revenue is hidden in several accounts scattered around the world.

Well if they can get them up and running, 400 barrels a day at current prices will give a estimated turnover of $450,000 a month.

Obviously that means nothing until we know how much profit we can take from it.

It will all come out in the wash as they say. The last time we heard anything was the podcast on Vox markets.

He said once they have their new party they will be stepping back into the field and “drilling new wells”.
Joe knows exactly how this going to be funded we just haven’t figured it out yet or there is a settlement coming.

I’ve just listened to it again but with more concentration.

He says the site in West Kampar produced over 700,000 barrels of oil and oilex didn’t receive a penny?!... why didn’t he say why?

Were we just providing a service or is that more money that we are owed?

Questionable actions leads to accusations and speculation.

It’s all these unanswered questions that have dragged on for so long is what’s causing this negative energy

Next question, how the heck are we going to raise several million to drill cambay?

And if you say dilution... surely our share total will end up doubling?

I can only think of 2 reasons why arb was dropped.

1 - GSPC have settled the dispute outside of court however nothing can be confirmed until Oilex has officially recovered what ever that settlement is.

Or

2 - Oilex dropped arb because their chances of winning was very slim. At the end of the day it was Oilex that went behind GSPCs back. (So they say?) If a bloke turned up and washed your windows without your permission and demanded payment, you’d tell him to “F off”. To save huge legal fees and not actually winning it was best to step down.

What do you guys think?

No i find that very fascinating, very different to my life. For a short story that was a good read :-)