Prospex Energy Share Discussion Threads

[bad gateway] 18/12/2023 08:24

Didn't say they'd had a great or exciting year gfg, gas production in Italy didn't start til July, the gas plant wasn't commissioned til Aug and they were still in testing phase of Podere Maiar-1 gas well in Oct at only 62,000scm/d.

No reason to expect them to have a ton of cash under those conditions is there? Think personally they've lost a year as testing has taken so long but still stand by the belief they won't low ball place its not been their style so far and from today's RNS doesn't seem to be in their plans going forward.

Need to see an Update from Po and it needs to include higher production levels as promised imo for sentiment to begin to improve here.

[goforgold1] 18/12/2023 08:03

What about his wages and then Admin not much left

[goforgold1] 18/12/2023 08:02

Come on Bad you seem a cleaver guy . The update in basic terms is saying we don't have money to grow the business we tried to raise money which we never told shareholders the CLN money has nearly run out which kept us afloat . I am sure there is some 5.25p CLN as well due Before March 2024 .

[bad gateway] 18/12/2023 07:57

Agree and they're both forgetting that historically PXEN raise at a premium not a discount to market price to believe they'll change tack for no good reason is short sighted imo.

[peterdonovan] 18/12/2023 07:55

So boring your posts are tbh, why are you posting in here,one minute you have bought then the next minute you have sold ,trying to get cheap stock I see lol Gross quarterly production for the third quarter of 2023 is reported at 5,658,117 scm (2,093,503 scm net to PXEN) and gross revenue for the quarter is EUR1,937,072 (EUR716,717 net to PXEN).The El Romeral power plant in Spain will have generated gross revenues from electricity production of about EUR1.8 million in 2023 (approximately EUR0.9 million net to PXEN).Total Gross quarterly income is €1,616,717Not bad in my eyes over €6 million a year

[bad gateway] 18/12/2023 07:53

Agree Marks wages are too high with the small amount of growth he's provided but seems more likely they'll just use the cash from Italy as it grows to farm into projects in europe in a small way to me as they don't want to dilute holders. If they were going to dilute irresponsibly and accept bad terms think they would have done it already.

"The Company will continue to evaluate investment opportunities in the New Year. However, and in order to minimise diluting investors, Prospex is actively pursuing the self-funded acquisition of highly prospective open-acreage in proven onshore basins in Europe."

[paulscb] 18/12/2023 07:52

You were to be absolutely crucified in a placing and wouldn't have known a thing about it. The telegram narcissist may have.

[goforgold1] 18/12/2023 07:42

My be he should take a pay cut this is a LIFESTYLE SHARE TO HIM . It's so obvious

[goforgold1] 18/12/2023 07:40

Bad give me a break this has no money to go forward was trying raise a large amount of money and Knowbody was interested that's a massive RED FLAG . 2p Coming well i give you a bonus 3p could be . But investors not interested that's bad .

[bad gateway] 18/12/2023 07:34

Was always going to be a boring update gfg1 as they're beholden to Po Valley to report first on no's. Expect thats why no guidance on current production where they should be past the start up phase and hitting 80,000scm/day.
Did you note that the funding was for projects they wanted to farm into during this year whist Italy was still in test phase not for projects going forward which are planned to be self funded?

"The Company will continue to evaluate investment opportunities in the New Year. However, and in order to minimise diluting investors, Prospex is actively pursuing the self-funded acquisition of highly prospective open-acreage in proven onshore basins in Europe."

[goforgold1] 18/12/2023 07:24

This is best part fundraise of any magnitude . Lol He was trying to raise a large amount looks like to keep the business afloat . This could be a 2p funding easy if wants a large amount insider selling here for months if not longer . As funding coming in NEW YEAR AT 2p i would say

[goforgold1] 18/12/2023 07:21

Unfortunately, due to continued challenging market conditions, we were advised that the market would not support a fundraise of any magnitude before the New Year, so the Company was unable to commit to the farm-in.

[goforgold1] 18/12/2023 07:21

Well well GFG correct again on another company . SAID NEEED FUNDING SAID WAS LIVING OFF CLN . Said CEO well over paid this has no money to drill even for anything . The crook been trying to raise Funding in background Total liar about not needing funding . I said they would need funding to drill next year . .MARKET ALWAYS KNOWS GOING TO 3p this over time as they have no money to drill ..Unfortunately, due to continued challenging market conditions, we were advised that the market would not support a fundraise of any magnitude before the New Year, so the Company was unable to commit to the farm-in.

[newforestlad] 14/12/2023 18:43

Seems to be two of them. Working together. Just ignore.

[z1co] 14/12/2023 12:26

Ahhh so you're also the resident troll on this thread as well.

WOW

[paulscb] 14/12/2023 11:52

Sub 5p selling soon

[goforgold1] 14/12/2023 04:48

Approximately. Go check yourself lol

[bad gateway] 13/12/2023 14:30

130M? have you counted gfg1 or is that just another no. you've made up? Just checking like.

[goforgold1] 13/12/2023 12:41

What's 4% . Nothing it's been living off CLN for over a year plus it's actually diluted the company by over 130 million shares approx . .Now that's some dilution slowly feeding into market so people don't notice . Gas has fallen off a cliff

[bad gateway] 13/12/2023 11:18

goforgold1
13 Dec '23 - 11:04 - 2305 of 2305
0 0 1
Someone getting out at any price they need funding . To do any other drilling next year been a total disaster don’t forget they only have 33% . So not much revenue plus their Admin is way way to much .


Did you do any research before jumping in at 52 gfg1?


20 September 2023

Half-Year Report
Post period end:

"First gas sales receipts from gas sales in Italy during July were received in August 2023.
As at 12 September 2023, a further GBP1,407,723 of convertible loan notes have been converted to equity.
The Company and its investment vehicles are expected to be fully funded to meet all existing operational and financial commitments."

"In February 2023, the Operator of the Selva Malvezzi production concession in the Po Valley region of northern Italy, in which Prospex has a 37% working interest, signed an 18-month gas sales agreement ("GSA") with BP Gas Marketing Limited to offtake and sell gas from the Selva field in Italy."


Did you note the thirty seven percent?

[goforgold1] 13/12/2023 11:04

Someone getting out at any price they need funding . To do any other drilling next year been a total disaster don't forget they only have 33% . So not much revenue plus their Admin is way way to much .

[bad gateway] 13/12/2023 07:48

He said he bought at 52 so likely got spiked and wants to buy low to get his cash back.
re gas price though believe these wanted an average of 30 euros to be able to drill early next year and with that apparently being delayed til end of next year todays 34-35 euros price shouldn't be an issue.
Would have liked to have seen management take a stake in another project this year but then again in present anti oil/gas environment don't mind the delay if they're having issues finding somewhere in europe where they feel safe putting their funds to work. Don't want another AST one is more than enough.

[peterdonovan] 13/12/2023 07:09

So why post in here when you have sold,trying get the price down, it seems to me hm