Ann: Partial Receipt of Outstanding Cash Calls, page-3

I thought a bit before posting because given the negativity around here amexpecting to get a beating for pointing out any potential positives here as I can see theres alot of bad blood here reading the threads and its probably rightly deserved but Ive observed on many occasions yesterdays dog becomes tomorrows turnaround story


Im in for a punt here at the lows for a few reasons

first the  company is owed substantial funds from JV partner which look like they werent going to pay however a few months ago after having not paid for a long time the JV partner coughed up some of the funds just under $2m AUD, this possibly suggests a change in situation

They are owed a further $7m-$7.5m AUD which if and its a BIG IF, if received would take the cash balance to $10m = 0.6c a share

cant emphasize enough theres no guarantee at all that GSPC will honor its further obligations owed to the company but recent language from the company suggests theres a possibility these funds maybe forthcoming and its something worth considering as this will substantially change the value equation for OEX


Can I ask long term holders were you surprised that GSPC ended up coughing up some additional funds? I would have thought it seemed like they were never going to pay a cent more reading the threads


Has anyone else even considered the remote possibility that this move by GSPC indicates a possible shift in the way things were?





Other reasons include
-India currently the faster growing economy and alot of talk of investment in domestic infrastructure and energy projects
-OEX having booked significant Gas resources already at Cambay with between 480Bcf 1C  900Tcf 2C and 1.6Tcf 3c and additional targets of 3Tcf P90 4Tcf P50 and almost 6Tcf P10 in targets
-possible sale of non core asset and acquisition of new opportunities
but will leave those for later



Summary
$7m Mkt Cap with $3m cash and owed a further $7m + a substantial albeit technically complex Gas resource in the worlds fastest growing economy


Ive seen worse dogs out there