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Oilex Share Discussion Threads
Showing 28876 to 28899 of 28900 messages
|Spread has dropped , not seen it this tight for some time?|
|Should see a reaction on the ASX tonight, 0.49p correlates to 0.8 cents.Not sure about the recents share price action. Fairly constant increases on low volumes with no action on ASX. Is this being manipulated prior to a placing? I added at 0.4p so happy enough to see the rise, hopefully news soon on Cambay PSC.|
|Same as me Geoff, I'm not buying any more have a bucket load and decided a little while back to let run and run,
Massive upside possibility and hardly anything left to lose.|
|Hope so Steve one of my bottom drawer shs :)|
|Dare I be positive here now, looking good|
|Mosman style rises coming maybe|
|Old bit of trading, but looking better|
|Nice buy dgieb|
|More like 33% up Steve.
They closed 7/9 which equates to 8 middle not 7.|
|I'm buying more again from profits elsewhere. We could see a mosman like rise shortly|
|oilex 17 percent up in aus, I'm amazed we haven't gone up a lot more on this news flow last few days.|
|Why buy 1.5 million at 4pm for 0.44 each when they were available at 0.4 around lunch , seems like a premium paid to get the larger haul.....maybe not as much of these about at current prices?|
|RAWV823 Dec '16 - 14:01 - 15276 of 15277 0 0
Somebody thinks these are still worth a 10k investment / punt !
Interesting the timing of the trade, almost as if they were hoping no-one was noticing and another 1.5 M today.|
|Somebody thinks these are still worth a 10k investment / punt !|
|December 21, 2016: Billionaire Dilip Shanghvi’s Sun Oil and Natural Gas has bought a 33.3% stake in the Hazira oil and gas field from Canada’s Niko Resources Ltd and is in talks to buy the rest from Gujarat State Petroleum Corp. Ltd (GSPC), two officials aware of the development said. The deal value, however, could not be ascertained. Niko has operated the field for 22 years. Sun Oil and Natural Gas is a unit of Shanghvi’s Sun Petrochemicals Pvt. Ltd while GSPC is 87% owned by the Gujarat government. The Hazira field is part of 16 hydrocarbon assets in Gujarat’s Cambay basin where GSPC hol
Read more at: hxxp://www.dealstreetasia.com/stories/dilip-shanghvis-sun-oil-buys-out-niko-resources-stake-in-hazira-field-61057/|
I concur with the majority of the above, although not sure Zeta would be too happy with 2p as this was their initial purchase price.
I think Zeta might be PI's saving grace in all this, by not allowing Oilex to be taken out by a low ball offer.
I think JS has been very prudent in progressing C 78 on a 100% basis, this should allow all GOI approvals to be granted prior to any potential sale, therefore the drilling shouldn't be held up for that reason.
Ideal scenario, GSPC sell their percentage to Oilex as part monies owed from 76&77. Oilex are then able to farm down and have a free carry on the next few wells.
Don't forget Magna were willing to pay $6M for 15% of Cambay not so long ago, we have a MCAP of approx £3.13M excluding current cash.|
|Oilex tenders for additional 55% interest in Cambay PSC - Interesting, if not totally unexpected RNS imo, though I'm not sure what we can conclude from it at this stage.
Firstly about time GSPC had this formal process, as it was expected by us for at least a year, and undoubtedly by the people in the know some time before that. However we don't know what terms there may be, or the politics involved or how Oilex is perceived after the last few years - both operationally and without Sundeep; I don't think I can safely assume anything. However I do expect 100% of this asset is worth significantly more than what 45% would suggest, as control, as we have seen with GSPC footdragging illustrates as an example - I suspect we have lost two years of progress and possibly the asset - we don't have much time left - as previous RNS's.
That said this is a major project with a possibility of major upside and very attractive irrespective of the little progress they have made - the asset needs several drills to ascertain if this can be fraced consistently - ie 'unlock the code'. The pre-emptive right appears helpful in Oilex getting first in line - the right of first refusal - and thus a decent result, but there are to many unknowns as above to work out if it is going to be favourable for us.
Again, strategic options have been mentioned, and there are a myriad of opportunities there for Oilex from the shares being worthless onwards. I also note the standard of RNS's have improved markedly and I can see the actions Oilex have made officially are methodical, needed and I would say timely. I am somewhat hopeful that with the old guard replaced with what appears to be a quality team, we can get a reasonable result, and that may mean that being bought out of Cambay and the company being wound up at 2p a share would suit Zeta, with Magna taking full control of the asset.|
|Just hoping they agreed to offset balance due against consideration payable|
|Either way Geoff we will be in a better position without GSPC.We could then go after them for monies owed.|
|I agree.......not sure they will succeed though.|
|Surely todays RNS is a positive.|
|Should make things interesting|