Thanks for the reply Charl, I agree with a lot in what you say.
I remember Rusty telling us that Ron had mentioned that they wanted ownership of the resource rather than script so they are pretty hot on Cambay and there is no signs that they intend to bid or sell down.
Something else I have been thinking about, I would like to see Ron spin off Canning as a separate entity.
The tenements are already in separate names "Admiral Oil P/L" and "Admiral Oil and Gas P/L" (holding companies) but this probably would not happen until farm in partner announced which would hopefully give us free carry for most dev. costs and maybe up to production if....if...if.
This could have huge benefits to Oilex Shareholders such as:
If a predator was after Oilex (no conspiracies or paranoia ;-) ) Canning as a separate entity would be unaffected by said bid.
Oilex Shareholders could be given rights/script in any book build /IPO adding further value.
Option holders would have an incentive to convert to shares to participate in any scheme with the 28 odd mill raised used to develop Cambay.
Of cause this is all conjecture and hypothetical on my part and I have no idea on the legal logistics involved just thinking a little outside the square......any thoughts?
OEX Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
