Prospex Oil And Gas Share Discussion Threads

[bad gateway] 22/1/2018 08:01

Not been too much mugging since the head and shoulders played out imho.
Just seems to be bowling back up, quite a nice trend actually unless you bought on a spike.

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[ccr1958] 21/1/2018 09:40

There is always a reason why this being held back, it’s not conducive to a long time hold unless one bought at the peaks . Two very positive results here and the share price hardly reflecting that . Obviously when they start producing the company policy should change . Unless it’s a mugging machine which until now it has been from a share holders perspective!

[janestone] 20/1/2018 11:41

Given that they have Romania and Italy under their belt, Id think that they might be able to go down different funding routes for Spain, but with Beaufort involved, I bet they screw the company for a placing.

[vauch] 20/1/2018 08:08

A small amount to pay for an asset with such huge upside and owning 49% would mean that the money gained would repay in a few weeks
Was this not a proven area like Italy

[bad gateway] 20/1/2018 01:56

Missed the news today. 1750boepd is a fine result. Happy to wait for the market to take it in.
Brasso read what you've posted. They have the option to buy more of the Spanish assets not the obligation to buy.

[bountyhunter] 20/1/2018 00:38

no need to when they have the options; ok it would have inspired confidence but they do have those options to motivate them to get the share price up to 1p+ and higher

[brasso3] 19/1/2018 23:22

My point was just that there is a shortfall in expenditure so at some point they will have to have a placing in 2018. That is not necessarily a big issue but I would be more concerned about why directors did not participate in the last one. Even if for small amounts eg £10k or £20k.

[on target] 19/1/2018 22:26

Ok fair enough, but money very well spent considering the huge upside on that prospect.

[brasso3] 19/1/2018 21:39

They raised £1.2m but have EUR 2m to pay for the Spanish assets in 2018:-

o Stage 1: buy 2.50% for EUR48,750, effective immediately
o Stage 2: option to buy another 12.50% for EUR280,000 (increasing stake to 15%)
o Stage 3: option to buy a further 34.9% for EUR1,725,000 when drilling of a well is due to commence (increasing stake to 49.9%)

[on target] 19/1/2018 21:33

Not true re: raising funds - see RNS 8/1

[bountyhunter] 19/1/2018 21:08

oh this morning, yes probably from the placing

[brasso3] 19/1/2018 21:04

There is a 51.8m sell and a 13m sell from this morning.

They are not showing on ADVFN but are on LSE.

19-Jan-18 @ 09:09 - 51,842,889 £340.09k
19-Jan-18 @ 07:36 - 13,480,000 £78.14k

[bountyhunter] 19/1/2018 20:59

very large sell after hours? can't see it, what time?

[brasso3] 19/1/2018 20:53

Todays RNS was very positive. A very large sell (51.8m) appeared after market close which was no doubt from the placing.

I can see why the share price has not responded though. Also, they will need to raise more funds in 2018 to get the Spanish asset off the ground.

[bountyhunter] 19/1/2018 20:42

Don't have ITA gas prices Brasso without researching it and too busy watching EastEnders right now ;-)

I wouldn't worry too much about options which are out of the money. If/when we get to 1p at least I will be in the money!

I wouldn't be too impressed if they awarded themselves a shedload more at a lower price though!

[brasso3] 19/1/2018 20:31

Been looking into PXOG a bit today.

This does not inspire confidence:-

Name Shares in Issue %
B Hale 38,720,900 3.8%
Bill Smith 9,139,344 0.9%
James Smith 4,000,000 0.4%
Edward Dawson 2,639,344 0.3%
Richard Mays 2,811,474 0.3%

I imagine most PIs on here have larger holdings than 0.3%! They are all prepared to have lots of risk free options lined up though:-

Edward Dawson 680,212 @ 3.05p
Edward Dawson 971,663 @ 1.0p
Edward Dawson 4,438,000 @ 1.0p
Edward Dawson 1,292,000 @ 1.1p
Richard Mays 541,726 @ 3.05p
Richard Mays 20,196 @ 1.0p
Richard Mays 2,327,418 @ 1.0p
Richard Mays 1,436,000 @ 1.1p
William Smith 541,726 @ 3.05p
William Smith 20,196 @ 1.0p
William Smith 2,327,418 @ 1.0p
William Smith 1,436,000 @ 1.1p
James Smith 1,436,000 @ 1.1p

All of those options were granted when the share price was much higher than today. I expect they will soon be rewarding themselves with cheaper options too as is the norm with AIM.

Why did the directors not take part in the recent £1.2m placing?

[ccr1958] 19/1/2018 20:28

So why isn’t share price reflecting the massive find .... 3 X what was expected ?

[brasso3] 19/1/2018 20:20

Bountyhunter

1700 BOEPD is about correct.

What are the local gas prices in Italy per MCF?

[bountyhunter] 19/1/2018 20:18

Just listened to podcast where stated 1750boepd today Vs 625boepd expected.

[bountyhunter] 19/1/2018 19:40

Has anyone here converted the C2 + C1 flow rates to boepd?
I make it (148136+129658) * 0.00629 = 1747boepd (but happy to be corrected) which doesn't seem bad if that flow rate can be maintained given on land close to infrastructure. PXOG of course has a 17% interest in that.
Bought in today given small mcap and potential.

[le mass du pap] 19/1/2018 16:44

Dream on........


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[nicosevos] 19/1/2018 16:13

Vox podcast, he sounds pist....Why not!
Anyway, it's pub o'clock, my turn for a gargle or two.....
Ones too many and a dozen is not enough.
gla