Oilex Ld Share Discussion Threads

[bloomberg2] 17/11/2018 14:05

Come on Bluehorseshoe Comedy's doing all the graft here !!!

[comedy] 17/11/2018 13:56

gspc exit stage left:)

[comedy] 17/11/2018 13:56

gspc have 2 weeks to seal deal and cover all their misdemeanors...or have it all in public space??? if go to arbitration!!!

court judgement has drawn the line!!!

get ready for a jv coming:)

[comedy] 17/11/2018 13:45

MoPNG Approves Application for PSC Extensions

Oilex Ltd (the Company) is pleased to announce that it has received notice that the Ministry of Petroleum and Natural Gas (MoPNG) has approved the proposal for the grant of ten year extensions to the Cambay and Bhandut PSCs.

10 year approval!!!

and

The extension will provide intrinsic value to our Indian projects and the Company, supported by increased interest from several Indian and foreign parties for possible participation in the Cambay PSC


and thats the new lease of life for OEX!!!!

[bloomberg2] 17/11/2018 13:45

Great post comedy!!

[comedy] 17/11/2018 13:44

easiest option for them is to give over say 35 to 45% of asset to get a lifelong free carry???

remember

04 April 2018

ASX Announcement

4 April 2018

ASX: OEX

AIM: OEX

MoPNG Approves Application for PSC Extensions

Oilex Ltd (the Company) is pleased to announce that it has received notice that the Ministry of Petroleum and Natural Gas (MoPNG) has approved the proposal for the grant of ten year extensions to the Cambay and Bhandut PSCs.

The Director General of Hydrocarbons has been requested by the MoPNG to hold the Management Committee Meeting and take the necessary action in accordance with the Government of India policy on the extension of small and medium sized discovered fields dated 28 March 2016.

The Company wishes to thank its team in India for their outstanding contribution and the Director General of Hydrocarbons and the MoPNG for their timely consideration of the applications for extensions.

Managing Director, Joe Salomon said, "This is a major milestone for the Company and follows more than a year of dedicated effort by the Oilex team with the strong support from the Government of India. The extension will provide intrinsic value to our Indian projects and the Company, supported by increased interest from several Indian and foreign parties for possible participation in the Cambay PSC. Our efforts are now geared towards achieving commercial gas flow rates in the EP-IV formation. Our confidence in India as a country of immense potential remains resolute and the Company continues to evaluate additional project opportunities where we can apply international technologies and capitalise on the expertise of our team."

For and on behalf of Oilex Ltd

Joe Salomon

Managing Director

[comedy] 17/11/2018 13:40

we are in driving seat now. they have 2 options keep paying 55% and work keeps getting done...problem we keep getting told they are in debt for billions???

on top of which they dont have a leg to stand on at arbitration???and have to put more cash forward going in to arbitration(correct me if wrong...just going to double check this point)...

so my take is they have stopped court handing over asset by putting forward $4.1million...

but they will now need to go on to charm offensive to stop us going in to arbitration...
i believe 100% they have to avoid arbitration at all costs so have 2 weeks to play ball>

[comedy] 17/11/2018 13:36

now while in arbitration they have to pay their share...

"the Court has directed that these conditions remain valid for the duration of the arbitration and that the Cambay Joint Operating Agreement (JOA) will continue to operate during this same period."

so they are now up against a wall...ie work has to be done on asset ie 2 wells drilled and they have to pay their share...or they lose the lot:)

on top of which they have gone toe to toe with joe saloman and realised this guy means business...and wont keep pleading hoping they will pay up...he has used the stick and it has worked...

afraid to say in some psyche until stick used they are all over you and treat you like dirt.

[comedy] 17/11/2018 13:32

the kicker now is we go in to arbitation and remember the inidan courts have taken our side.

implying the indian government want work done on asset and want revenue in terms of work=jobs and production=taxes.

[comedy] 17/11/2018 13:26

c) GSPC shall commence arbitration proceedings on or before 1 December 2018.


this is the kicker...plus

Should GSPC meet the abovementioned conditions, the Court has directed that these conditions remain valid for the duration of the arbitration and that the Cambay Joint Operating Agreement (JOA) will continue to operate during this same period. Accordingly, in addition to submitting in aggregate, 30 crores rupees to the Court, GSPC will also be required to pay its current and ongoing 55% share of the Cambay Joint Venture expenditure while seeking to have the EoD Notice rescinded through the arbitration proceedings.

In the event GSPC does not adhere to all of the abovementioned conditions, the stay order will no longer prevent the Company from seeking to implement all of its rights under the JOA.

[bloomberg2] 17/11/2018 10:11

What is the third clause comedy ?

[1bluehorseshoe] 17/11/2018 09:47

Loving the charm offensive

[bonzodog1] 17/11/2018 09:31

Plus he shags his sister

[hmgouda] 17/11/2018 08:40

Absolutely spot on i think your predictions are most likely what will happen. I hope that they will speed up with the JV.

[comedy] 17/11/2018 08:01

Next week going to be very interesting. I used to hold oex years back when 4p a share and they were drilling. Joe has to get cash back and drill first well to get $100k in shares or cash....

I smell a reduction in gspc % here to become silent partner with no costs. Jv coming with new guys paying majority costs of 2 wells drilled with new technology to earn their %... this has now become a co to hold. I thought the court would keep delaying for gspc and we would have the Nigerian scam going on. The fact cash put in and court denied gspc means India open to foreign investment and business!!!

[hmgouda] 17/11/2018 02:25

If you do not value the company assets or its shares. Why are you wasting your time here!You must have hidden plans. We will not waste our time with you and time will tell who is right.

[theaviator] 17/11/2018 00:05

Hope none Monday am either but the stabaliser is out.

[glenbo1] 17/11/2018 00:01

Bulgarian One simple question What is the value of OEX 45% of the cambay asset??Yes the 3rd clause quite simple explains that if or when GSPC fail or try to delay any payment or cost then the asset will become 100% to OEXProving the asset is why you have JV partner.Bulgarian I do wonder if your IP Address is linked to any other accounts here???

[1bluehorseshoe] 16/11/2018 23:59

He has actually nipped to Japan and he's actually a night of the realm

[theaviator] 16/11/2018 23:58

Oh if only you knew!

[theaviator] 16/11/2018 23:50

He should buy TOTAL (Get it?lol) (Served me rather well. Liking my divi shares these days tbh. Smallish pot for aim)