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I think we all know Magna is calling the shots now. Are they...

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niako

2,106 Posts.

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02/09/14

07:49

Post #: 13908537
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Originally posted by hitch19 ↑

Stealthy. Is there a farm in partner in the wings? http://www.stealthventures.ca/operations/international/

Acquisition
"Stealth signed a binding agreement to acquire a private company that has working interests in producing oil & gas assets coupled with exploration acreages, in India. The private company has working interests in producing oil fields (for development), a gas field (for development) and in prospective exploration acreages. All the development assets are currently under production and have a significant upside, both for enhancing production and for exploration upside. The private company is the Operator in some of the development assets, which pass on to Stealth as soon as the necessary regulatory formalities have been completed and the necessary approvals from the Government of India have been received. The Joint Venture partners in these assets/acreages are renowned oil & gas companies, having large acreages/assets both in India and internationally. The entire set of Assets and the exploration acreages are under Production Sharing Contracts (PSC) with the Government of India, and are located in a producing hydrocarbon Basin, in India." "MAGNA CAMBAY TRANSACTION UPDATE Oilex Ltd (ASX: OEX, AIM: OEX) (Oilex) announces that pursuant to the Sale and Purchase Agreement (SPA) entered into with Magna Energy Limited (Magna) on 9 August 2013, the SPA unwind process has been triggered. This means Magna will become a cornerstone investor in Oilex, acquiring a 12.46% equity interest in the enlarged share capital and Oilex will retain its full 45% direct interest in the Cambay Production Sharing Contract (PSC)."

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I think we all know Magna is calling the shots now. Are they possibly curbing the sp somehow?
Most HC oex faithful were expecting a gas valve to be switched on, I mean they dug a hole right! This is top up time, Cambay is derisked and the sp is flat.

OEX Price at posting: 16.0¢ Sentiment: Hold Disclosure: Held
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I think we all know Magna is calling the shots now. Are they...

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