Prospex Oil And Gas Share Discussion Threads

[ccr1958] 15/7/2016 15:37

steady as she goes, nice buying and still under radar !!!!

[runwaypaul] 14/7/2016 22:59

from bullish last month to ultra bearish last few days. someones sold out ,likely at the low, and desperately trying to get back in......choo choo!

[stonefold] 14/7/2016 19:53

Sorry what infrastructure do you think Hutton have in place?
Can you provide a link to that page.

[rpat2] 14/7/2016 16:30

The Hutton infrastructure has this in place , see website !

[stonefold] 14/7/2016 15:55

If the drill is successful then PXOG might sell it on to someone who could afford to take it on to the next stage. Otherwise they would have to raise funds for the gas processor or CHP plant, which are required to make use of any gas produced.

[rpat2] 14/7/2016 15:42

Yes time will tell, however if the drill is successful then they start generating cash, if a placing occurs to buy another prospect I see no problems as its growth, if they need to. That is ..

[stonefold] 14/7/2016 14:52

“Your post is inaccurate as you’re assuming shares will be placed at a penny !!!”
-Rpat2


=
That is not what I said, but to be clear.

The calculation to determine the maximum number of shares that may be issued is:

The nominal amount that the directors seek/have the authority to allot. Which in this case is £3,000,000

Divided by the nominal value of a single ordinary share. Which in this case is 1p ( = £0.01)
3,000,000
Divided by 0.01
Equals 300,000,000 shares

Which is 139% more than the 215,331,291 currently in issue.


I did not guess which price they will seek to place them, other than it will be at a discount to share price (at the time of placing).


The nominal value of a share (where there is one) is included in the title of the share.

PROSPEX OIL AND GAS PLC ORD 1P



===
I see the resolution was passed.

"The Company announces that at its Annual General Meeting held earlier today all resolutions were duly approved. "

IMO I think they are very thinly funded to get through this drill (whether it is successful or not).
Also the company have previously stated that they wish to seek additional projects to invest in. They do not have IMO funds to do that, so are very likely to raise cash with a placing.

If they were quietly confident that the project was going to be good, then they would let the results speak for themselves.
If they want to quickly raise more funds, then they will talk up the potential value.

Time will tell.

[rpat2] 14/7/2016 14:08

Sorry will not reply and waste my time with people who just post false statements

[rpat2] 14/7/2016 14:07

May 2016, we believe we are entering an exciting period in our genesis. This is largely thanks to our 49% interest in Hutton Poland, which we are advised is on track to drill a first fully funded well in Q4 this year. We view this well as being potentially 'a low risk company maker' while an independent Competent Persons' Report ("CPR"), prepared by AGR TRACS ('AGR'), described it as "a worthwhile and attractive exploration opportunity". With two horizons being targeted, we believe this well adds high impact potential in the short term to the multiple longer term opportunities we are evaluating for Prospex.

[rpat2] 14/7/2016 14:06

Again inaccuracy !!Also as per the rns they are fully funded for the drill, have you read the rns by any chance or do you just make stuff up?

[rpat2] 14/7/2016 13:56

Your post is inaccurate as your assuming shares will be placed at a penny !!!

[stonefold] 14/7/2016 13:53

If resolution 4) is passed at the AGM then they will be able to issue a fresh 300,000,000 new shares. So it makes sense to promote the price a bit before blasting away with the next discounted placing. But they will have to do it before the drill starts (if the drill is disappointing then the only thing left to pump, will be concrete)

As to value, either Hutton:
Undervalued the project?
Gave a very generous discount to PXOG ?
Or PXOG are overvaluing it ?

[patviera] 14/7/2016 12:09

Yes v positive Worth topping up as I got a 3p tgt

[maccamcd] 14/7/2016 07:42

Today's AGM statement reads very well.. market cap tiny.. what not to like here... worth topping up?

[ccr1958] 13/7/2016 07:50

Morning dice, yes plenty going on here, Thanks for highlighting the salient points . Have a good day .

[dice1950] 13/7/2016 06:03

Hutton Energy Ltd. - Sale, Farm-Out, or Swap

Hutton Energy Ltd. (Hutton) has engaged NRG Divestitures to market its prospective Alberta lands.

Hutton has identified prospective drilling locations throughout its Alberta properties and is looking for a party to sell to, farm out, or swap with. Properties with geologically delineated drilling locations including Doe, Two Creeks, Wapiti, La Glace, Spirit/Rycroft, and Teepee, among others, are included in the package.

We encourage you to examine these opportunities and sign a CA if you are interested in learning more about them.

Through its common shareholders, Hutton Energy Group has a network of affiliated projects across North America, Spain, France, the Netherlands, Canada and Australia.

[dice1950] 13/7/2016 05:15

Prospex Oil (PXOG) The bulls have strong evidence on their side and this evidence prompts us to make a bullish bet.

[dice1950] 13/7/2016 05:13

Prospex Oil (PXOG) 4 STAR BUY

[dice1950] 12/7/2016 22:09

HSBC hikes price target for Hungary MOL to HUF 20,000




MOL sells minority stake in Energopetrol to INA

MTI – Econews Tuesday, July 12, 2016, 14:26

Prospex Oil & Gas PLC Monday said it acquired a stake in the parent company of the integrated group of oil and gas companies, MOL Group.
The London-listed investment firm focused on the energy sector and wider natural resources industry has purchased 1,100 shares in MOL Hungarian Oil & Gas Public Ltd Co, the parent company of MOL Group.
Prospex paid a total of USD67,714 for the shares, implying it paid around USD61.56 for each share.

[ccr1958] 12/7/2016 16:43

oh well I`ll have to settle for 13%.. This is still well under radar :)...ps interestingly this only has 2 buy votes on the advfn hot stocks !!!!

[dice1950] 12/7/2016 16:31

big day coming up 2morrow with news later in the week !!

[ccr1958] 12/7/2016 16:30

finish up 10% will do me .