Oilex Ld Share Discussion Threads

[bulgarian] 16/11/2018 23:49

They don't have the dough to prove it up.

Simple.

[theaviator] 16/11/2018 23:48

He has multiple ids. Just dont engage!

[bulgarian] 16/11/2018 23:36

Which case have you made? Other than what you want to read?

Genuine questions? Shoot.

As an aside:

Why aren't you asking these to those who ramped this originally?

[glenbo1] 16/11/2018 23:31

I rest my case Bulgarian Not answered any genuine questions.Debate is a good thing on these boards but not when you are blatantly talking down a company Last question Bulgarian Where are you here?Are you invested in OEX ?

[bulgarian] 16/11/2018 23:28

OEX will never own 100% of the asset.

Needs a big JV IMHO.

[theaviator] 16/11/2018 23:26

Yes comedy, Joe has dropped a few hints. Quite certain we will be told something soon tbh

[glenbo1] 16/11/2018 23:25

So GSPC are liable for 55% of costs and funding Any defaults from them and OEX have 100% of the asset.Read the court order details..Good night and Bulgarian. Fill your glass half full it will look a lot better.

[bulgarian] 16/11/2018 23:23

When OEX have 45% they are the minority owner. It's not their asset.

[glenbo1] 16/11/2018 23:19

Just to clarifyThere is no confusion. I know GSPC are a large company but they owe a hell of a lot and again I ask you what you would say a fair value is for our asset??

[bulgarian] 16/11/2018 23:18

GSPC will probably be looking at their history with OEX and wondering.

[comedy] 16/11/2018 23:13

Glenbo1 we have the cornerstone investor here for oex. Plus owed $5mill plus...so think many not understanding that we won't need to raise as much cash. Gspc needs to decide do they want to go toe to toe with Joe Salman???

Or lift their game and start working like a business??? 3rd option is they reduce their share in asset and get a free carry??? New jv partner pays for new well drills to earn %???
This has now become a investible proposition...especially when you look up Joe saloman credentials!!!

[bulgarian] 16/11/2018 23:08

There seems to be some confusion. It would appear that some think this JV with GSPC is the whole Cambay basin.? When GSPC already have 16 other projects on the go..in the Cambay.

OEX are a minnow, GSPC think of a very large UK council backed operation. Who would you back? And why would you be surprised about slow DMP or payment?

[glenbo1] 16/11/2018 22:57

ComedyThanks for the research.Bulgarian Read the second RNS If GSPC default on any funding requirements or put one more step.out of line then OEX receive 100% of the asset.GSPC are involved in many other fields but also owe huge amounts.My guess is they have a large backer who will be announced in the short term along with drilling details.Of course financing is required and also.dilution.too but what figure can you put on the asset they have??

[comedy] 16/11/2018 22:57

Wells to be drilled to unlock the asset
New jv partner foots a larger % ...
Saves both us and gspc and face saving
Played out??? Put this unfortunate episode behind everyone.
Move forward and everyone makes money.

[comedy] 16/11/2018 22:48

Agree aviator, many dont realise $4mill plus arbitration starting 1st Dec...on other hand gspc hand over 20% and we get a third partner who foots bill to earn in share to this exciting asset???

[comedy] 16/11/2018 22:44

Just caught up with background reading here...joe gets $100k share bonus or cash if we get back cash and drill well... so looks like cash bit done
And think drill will be done via jv, which will mean gspc hands over % and
Saves ongoing costs???

[theaviator] 16/11/2018 21:58

Morning or evening. Yes thats my work. Today imo was typical hysteria. Imo we will hear further news very shortly regarding funds that will only enhance price. With any of these shares you have to derisk. Thats YOUR call nobody elses. People arent here to babysit. I had free money spare and like the potential here so added with some profits and will continue to. Fact is you'll find some genuine investors here.

[comedy] 16/11/2018 21:47

Well just got $4.1mill deposited

[1bluehorseshoe] 16/11/2018 21:05

Agreed as stated

[bulgarian] 16/11/2018 21:00

As per the Company report 9/18, there is a funding requiremet by early 2019.

[1bluehorseshoe] 16/11/2018 20:57

They've reduced staffing levels and as I said next campaign is 6m US dollars as specified by Schlumberger

[bulgarian] 16/11/2018 20:50

That's peanuts.

They need millions!

The dough in the bank with the court is going to be argued. GSPC Don't need this to happen quickly - they've got 16 other Cambay projects on the go.

OEX have expensive staff / operational overhead, and need cash.

Court case could rumble..

[1bluehorseshoe] 16/11/2018 20:48

We're also owed over 3m in Indonesia and we are in JV with GSPC in canning also in India under the same criteria which I believe we're trying to divest

[1bluehorseshoe] 16/11/2018 20:45

Would expect a couple of hundred thousand from oil stockpile sales too, as per RNS