waiting for cambay spud and canning sell down, page-6

Stribes,

I generally disagree with what you are saying about India. The expectation is that the regulatory issues are managed in India - when you sell a story about operating in India you are actually promising that you are a company that can manage this. Remember they have done this once before so in not sure that everything is out of their control. As far as I can see, reading between the lines the change out of the management in India a few months ago was to help with managing the people interface with India.

As for canning the story sounds good but is oex able to close a deal. Can they get money in to turn a profit. Can they secure a quality partner to free carry them on wells - then announce this to the market.

While the issues to deal with are not technical they are not out of control for oex - in fact i would think that they are the most critical aspects in distinguishing a company that will have some level of success. At times where you've got something to achieve, if you can't get this stuff sorted them you need to strengthen the teams even if your burn rate goes up in my opinion. I'm not advocating changing people out mid stream for no reason but nobody will have a job or much of an investment without getting this sorted.