Molecular Energies Share Discussion Threads

[chris cat] 01/3/2024 14:35

As I showed in my figures a few days ago, Capital raised of circa $270m to generate something now worth £2.2m....all the while the BOD have been paid quite handsomely. I honestly don't think we can fault PL's efforts as I genuinely believe that he has tried very hard, but the bottom line is shareholder destruction on a grand scale all whilst collecting around £400k per annum in salary.

[wakeland] 01/3/2024 14:04

In little more than 6 months from 350p to 23p, impressive even by President's standards.

[nafnaf3] 01/3/2024 11:56

My question is who suspended drilling and why? So many RNS can't keep up but am I right in thinking CPC (think that's the right name) totally responsible for first drill and all drills afterwards MEN pay £1m?? Please correct me if I am wrong but if another party responsible for drill why have they suspended?

[chris cat] 01/3/2024 11:30

NafNaf....I read suspension as a gentle introduction to duster

[vwap21] 01/3/2024 11:28

chris cat - is it safe to assume minimal overheads? When combined salaries of directors alone could be a multiple of MEN's current mcap it is important to know what MEN is still on the hook for.

[nafnaf3] 01/3/2024 11:03

Surely to drill a little deeper is not that big an expense seems all equipment & man power are already on site. Not enough information as to why suspended, but can only presume hole is likely 80% completed so crack on with the last 20% ASAP and put us long term holders out of our misery

[chris cat] 01/3/2024 10:36

I'd rather they abandon the drill, when it comes to finding commercial oil, these guys have proven over 15 years that they can't do it. Metaphorically, they could fall into a barrel of t!!t£ and come out sucking their thumbs.

Assume that the intercompany balances between PL's private Arg Co and MEN are now broadly equal so we set them off and we get no further cash for the loans, however we do get c$20m (I can't see it myself, but that's the deal) from the earn out. Assuming we are debt free at that point, then we should have c$20m of cash to come...which is roughly 9 x the current market cap. Assume minimal overheads and then throw in ATOME/GHC etc. and there's a pathway to get some value.

Good grief I'm starting to sound like PP.

In short....the less we do with O&G the less we pi££ money away.

Feel free to correct me if any of the above is wrong

[wakeland] 01/3/2024 10:27

Think I did predict the rig would fail, it's President energy it always fails.

[nafnaf3] 01/3/2024 10:27

Agreed. Could be black gold a few more hundred feet, no idea why they wouldn't give it a proper go rather than half a job??

[pecuniary] 01/3/2024 10:10

Well I’m an ‘in for a penny, in for a pound’ guy and considering the rig is there, the site is set up and the costs to date, I’d battle on to target depth come hell or high water.

[all in eol] 01/3/2024 10:00

Suspended means drilling stopped pending a decision what to do.
I personally hope they decide not to throw any more money at it given the problems with all previous wells also.

[nafnaf3] 01/3/2024 09:56

What does suspended mean? Just dangling a carrot for more bs. It's either a yes or a no, which one is it PL???

[vwap21] 01/3/2024 09:47

AiE - i will hold now and run it out. Surely it must be going through PL's mind that now he has the Arg business with a promise to pay MEN $xm then he could turn that obligation circular by taking out MEN at a discount to promised earn out from Arg. One has to wonder where the buys were coming from yesterday and how annoyed those participating in the placing must be. I think a statement of affairs from the company would be helpful post split out of Arg. What is left and what costs are carried by MEN and which by divested operations.

[barony] 01/3/2024 09:20

Disappointing, but signalled for a while. Let’s hope Atome revives and delivers alongside Green House.

[bigglesbingham] 01/3/2024 09:12

A little misguided I'd suggest

[chris cat] 01/3/2024 08:52

Brave move to average down AIE. Nobody except PP should be surprised by the well result, The owner played down the COS...even though most of us hoped he might actually be under promising to over deliver. I guess we are now not an O&G company but an incubator/Investor in new energy technologies. Hopefully these ventures can lift the share price but I'm not holding my breath, ATOME has already fallen sharply but at least has bags of potential. What I find a bit unsettling though is how the Argentine assets that we could never make cash positive are suddenly able to generate enough cash now that we don't own them. On the plus side at least we are getting some cash.

[investorwil] 01/3/2024 08:49

The con continues then?

[all in eol] 01/3/2024 08:34

Forgot to say “welcome back vwap.
Presume you are still in and not stopped out on this mornings drop?

[all in eol] 01/3/2024 08:09

Averaged down some this morning. Glad I didn’t at 35p
Can’t blame PL for this one, he kept banging on about the low COS

[investorwil] 01/3/2024 07:03

As expected from this company.

[all in eol] 01/3/2024 07:01

1 March 2024


MOLECULAR ENERGIES PLC
("Molecular" or the "Company")

Update on Corporate and Trading Matters

Molecular Energies (AIM: MEN), the international energy company, provides an update on corporate and trading matters.

Key Points:

· Tapir x-1 exploration well, Paraguay, suspended. Participants reviewing next steps
· Positive cash receipts from Argentina continue
· Strategic developments with regards to Green House Capital Group including receipt of UK government EIS advance assurance
· Sustainable Aviation Fuel studies progress

TAPIR X-1
The Paraguay exploration well Tapir x-1 has been suspended due to tough drilling conditions without reaching the target zone. The drilling rig has been retained on site pending further decision by the participants, taking into account the risk-reward ratio of the well. Further information will be provided at the relevant time subject to confidentiality and regulatory restrictions. Investors are reminded that this was frontier exploration with an estimated 17% chance of success.

ARGENTINA CONTINUES POSITIVE CASH CONTRIBUTION
Molecular is pleased to announce that President Petroleum S.A., the former subsidiary of Molecular, has continued to pay down the US$13 million of debt due to Molecular. Approximately US$1.28 million has now been paid down within the last four months and expectations are that funds will continue to flow.

GREEN HOUSE CAPITAL GROUP ("GHC")
Significant progress has been made in relation to GHC, which will be subject to a separate announcement early next week. GHC has been granted EIS advance assurance by HM Revenue & Customs ("HMRC") in relation to the UK government's EIS scheme. Based on the receipt of EIS advance assurance, the directors of GHC also believe that a prospective investment in GHC should constitute a 'qualifying holding' for a Venture Capital Trust ("VCT").

SUSTAINABLE AVIATION FUEL ("SAF")
As previously announced, studies commenced with Aecom, the worldwide engineering consultancy, to investigate the feasibility of Molecular moving into the business of SAF. These studies continue to progress before any final decisions are made.

The skill set of Molecular, its management and its related parties as well as its knowledge of multi-lateral funders and institutions supportive in principle of SAF projects, place Molecular in a beneficial position should the results of the feasibility studies prove positive.

SAF has a captive, permanent and increasing future offtake market as airlines around the world have committed to increase the use of this product. Production is a complex process and requires a substantial investment. Further updates will be made in due course.


ATOME PLC
Molecular notes the progress of Atome and the Board remains of the view that Molecular's investment in Atome will generate substantial shareholder value for Molecular shareholders in future.

Peter Levine, Chair, commented:

"The result of the Tapir x-1 well, whilst disappointing, is not surprising given it is the frontier exploration. Sometimes it is the better decision in tough drilling conditions to make a bold resolution to suspend rather than continuing in escalating cumulative down hole issues, especially taking into account the risk-reward ratio.

"The progress being made in Green House is promising, as is the continued cash flow coming from the previously disposed Argentine business. This bodes well for the future and complete collection of the US$13 million intercompany debt."