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||Market Cap (m)
|Oil & Gas Producers
Oilex Share Discussion Threads
Showing 28926 to 28950 of 28950 messages
|clocks ticking, nearly 2 months through 2017.|
|Commenting on the update Mr Lingo said "I look forward to the expanded role as the Company gains momentum in 2017 and seeks to maximise shareholder value from its existing Indian assets and also capitalise on new opportunities in an improving energy market."
will be holding him to that, nice to see that in writing on an RNS,, awesome.|
|Commenting on the update Mr Lingo said "I look forward to the expanded role as the Company gains momentum in 2017 and seeks to maximise shareholder value from its existing Indian assets and also capitalise on new opportunities in an improving energy market."|
|About time the chairman stood down|
|We've had all the messy round now with the share price last few days, tommorow now may be the time to start loading up again,|
|jo jo not a stock atm|
|Cambay must be worth 16 times the share price before we start,
The share price has been silly low for too long|
|About time, long way to go yet,
I would like to see this somewhere between 4p and 12p by now.|
|What's all this , just back to where we were a couple of weeks ago, some way yet to cover my losses on this! Good luck all , crossed fingers ...|
|My bottom drawer share looking better today, just hope it continues :)|
|Nice movement at last|
|37 percent up is some move|
|Let's hope so, if it's Magna we should get a holding RNS soon.
JR nice spot on MW and JB have you read the strategic review from Magna pretty damning in my opinion|
|Seller cleared??? Back over 1p??|
|What's going on here then is this a forc d seller ? When's the best news due|
|Anybody confirm who has left the company , i.e. cancellation of share options ?|
|Well, MW and JB have resigned from Mangna - surmising that's why the share price has fallen on what I could see as good news on the 30th January - and maybe that's why there continues to be some pretty lumpy sell trades; while it doesn't change the thrust of my post a couple of days ago, unfortunately it increases the risk that there isn't a happy ending. hTTps://beta.companieshouse.gov.uk/company/SC417424/officers|
|Thanks Tera,with $500m in the bank, I doubt it. They spent how long on this and got nowhere,doubt it Saw that JW on linkedin says that still working for Magna, guess I should check on companies house. Thinking that they may have a use for that $500m and its sown up, but very little to go on at the moment.|
Did you read that MW and JB have joined Soco.
Have they decided to put Magna on hold?|
|Good post JR......Agreed.|
|Oilex Ltd Quarterly Report 31 December 2016 - imo a pleasing improvement in less than 2 months and I don't think the market reaction reflects the facts, more general apathy, which may suggest the last leg of this declining share price
A quick reflection of where we are:
Firstly the resource is big and the potential is there; that unlocks a lot of doors for finance if the price of the resource makes it economic to extract.
Secondly, the JV partner that has not allowed the resource to progress is going to be replaced shortly.
In terms of potential, we could have:
100% of what could prove to be a very valuable asset;
$7m or so of what is apparently owed to us;
A significant amount of cash out of an asset that is at the moment impossible for us to extract;
Two decent sized investors with the possibility of bringing finance to progress the asset.
As noted in my post of the 15th Dec, there are a lot of unknowns and this makes it uncertain if we can get any confidence of whether the share price is 0 or significantly more. However I think the last RNS has made progress:
Firstly the relook at the C-23z core may prove to instrumental in progressing the asset. If we can get the same answers to the $3m or whatever it was to core, then considering our market cap, cash levels and ability to finance anything significant, this should reduce operational risk, time, and cost. We ain't got much of any of anything, let alone time, by September, as I see it from what we know so far, we better have sold out of Cambay or done enough to get an extension, without that we are worth nothing to anybody. With the analysis of the core satisfactory, then we appear just to need two workovers; I say appear as I can't believe that this wasn't discovered before and the importance of it to OEX. If I read this correctly, we may be close to escaping from a near certainty of a total loss of our shares. A satisfactory evaluation of the core will drastically increase the price paid for Cambay by a third party, as OEX becomes has the ability to survive this year and make progress.
Secondly we might surmise that the application and the timing of the application for production of 77H and 73 is important; why bother, why now, and why do they think they can; the answers to me appear as optimism and confidence.
Other notes, disastrous B PSC is for sale, $2.5m in the bank, cash burn reduced via redundancies and cost cutting; other than that something or nothing.|
|they are bidding for the 60% of the JV. did I miss the figure? financed by?
break even (expected) when the sandstone formula is resolved?
are they seeking the new JV partner as they are hinting?
no real news on Australia.|
|hurting - someone off loaded to the public before the news hit. hence increased turnover.|
CAMBAY FIELD, ONSHORE GUJARAT, INDIA
Oilex has participated in a formal tender process submitting a conditional offer for an additional 55% interest in the Cambay PSC (Cambay). The offer was in response to a competitive bid process initiated by Gujarat State Petroleum Corporation Limited (GSPC).
Oilex is proposing a revised work programme takingadvantage of a lower cost opportunity to analyse core data from existing well C-23z.
Application has been made with the government to recommence production from C-73 and C-77H
Two workovers are planned for the first half 2017.
Planning continues for the drilling of a new verticalwell.
During the quarter, the Joint Venture partnerreleased equivalent $37,350 against outstandingcash calls.
BHANDUT FIELD, ONSHORE GUJARAT, INDIA
Following technical and economic reassessment, Bhandut-3 was shut-in from 6 October 2016 due to increased water production.
Production for the 5 days averaged 193.5 mscfd, or 33.4 boepd (Oilex net 87.1 mscfd, or 15.0 boepd).
During the quarter, the Joint Venture partner released equivalent $58,750 against outstanding cash calls.
Application for three-year extension of Petroleum Mining Lease was approved.
Potential opportunities for sale of the PSC are being explored.
As part of a cost reduction initiative, the Indian office completed a move to lower cost premises.
Significant redundancies and reductions in remuneration were undertaken throughout the Company.
The Company has settled its insurance claim, receiving $693,400 in January 2017 in respect of the costs associated with the Zeta Resources Limited litigation.
Looks like they plan to delay 79H due to a possible change in JV,|
|1.9m buy reported ? Follwed by a 1m sell
At least some volume now.|