Molecular Energies Share Discussion Threads

[chris cat] 10/1/2023 16:20

If we are, lets hope it doesn't take as long to pin down as the Paraguay never ending story.

[chris cat] 10/1/2023 15:28

PP - My apologies...I meant after the survey work

[chris cat] 10/1/2023 15:18

Good point VWAP, must admit I'd forgotten about that. The wording led me to believe that those wells would be plugged and abandoned. I wonder if one option would be for PL to take a larger slice of ATOME from MEN.
PP - Are you worried that almost every well we have ever drilled has always ran over budget and almost never met expectations for one reason or another? That is why we now have high debt and what appears to be a struggle to repay/service it. We got to the point where we had pretty low debt then borrowed to fund these developments, which have not proven to be the cash cow we hoped. Granted, its O&G exploration and development so not risk free, but when you do the same thing time and again and the results are never what we hoped/expected then you have to seriously question either the competence of management or the quality of the assets. Also I'm assuming that there's a reason why we have taken so long to go back MDT, yes....the others where seen to be "low risk, value accretive"
Agree/disagree?

[vwap21] 10/1/2023 14:13

Jan 2018 was, i think, the last time US assets were sold. The sale was to a company called Alpha which was owned by PL. The disposal was a related party transaction. The purchase price was satisfied by way of IYA debt reduction. RNS was 2 Jan 2018

[piperpeter] 09/1/2023 22:24

MARTINEZ DEL TINEO EXPLORATION.

20 April 2022.

"In terms of size, an independent Gaffney Cline and Associates report in 2012 best estimated Unrisked Recoverable Resources at 570 Bcf of gas and 14.5 MMbls of condensate, with an updated Company internal estimate in 2016 after further geological and geophysical work upgrading those figures to approximately 2.8 Tcf of gas and 69 MMbls of condensate from two independent formations".


28 June 2022.

"We are launching a farm out process in Q3 2022, and whilst this may well roll over into 2023, the size of the prize and the increase in value in gas has made in our view the prospect more enticing, with initial interest already being shown. Further announcements will be made in due course".


9 January 2023.

"The drilling of a high impact gas exploration well at the Martinez Del Tineo field in Salta is on the programme for H2 2023 which will also target proven oil reserves in that field. An appropriate drilling rig has been identified and, to maximise economies of scale with regard to future drilling in Salta, advanced negotiations are in progress with regard to the drilling rig being based at the Puesto Guardian Concession on a medium to long-term basis from mid-2023".

Pp.

[chris cat] 09/1/2023 13:26

It feels like IYA might have to do some form of debt for equity swap but that would take PL over the 30% threshold. Also appears that we will be doubling down again in Argentina with a look at old wells. Paraguay drill to come, Intercompany loans for Greenhouse projects, repaying high interest debt.....Where is all of the cash coming from?
Good move to extend the bonds though. Again as I keep saying the bond providers must have done some due diligence on the business plan to ensure there's an ability to repay them at some point, so why, as owners of the company are we not allowed to see such plans or at least an abbreviation of them?

[barony] 09/1/2023 11:21

So, we sell off Louisiana and use that cash to pay off some of the debt to IYA? If, we are still profitable, is there any way to get cash to investors, or will it all go on the Paraguay drill?

[bengal1] 09/1/2023 07:52

Blimey, why so soon.

[edward3] 09/1/2023 07:49

Bengal

Accordingly, this asset, together with the contingent liabilities, is intended to be dispensed with in Q1 2023

[bengal1] 09/1/2023 07:20

This will get slated for once again providing no real production figures.

[bengal1] 09/1/2023 07:09

Louisiana to be plugged and abandoned in future. Near term? Not clear. .