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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Prospex Oil And Gas Plc | LSE:PXOG | London | Ordinary Share | GB00BMFZVZ53 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.525 | 1.30 | 1.75 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
26/4/2019 10:24 | Lucky you, I'm only 70% down now, lol | enewman36 | |
26/4/2019 09:59 | You think??? | billthebank | |
26/4/2019 09:49 | Participants in placing off loading ... | ccr1958 | |
26/4/2019 09:11 | Great back to break even!!!! | billthebank | |
26/4/2019 08:45 | 1p here we come :) | block4gooner | |
26/4/2019 07:47 | They could have provided proper update on Spain as no real news for months and months. Still it's better than nothing and real prospects of future revenues and profits from Italy. | blueblood | |
26/4/2019 07:34 | Prospex Oil and Gas PLC Resource Upgrade & Production Expansion Potential 26/04/2019 7:02am UK Regulatory (RNS & others) Prospex Oil (LSE:PXOG) Intraday Stock Chart Today : Friday 26 April 2019 Click Here for more Prospex Oil Charts. TIDMPXOG RNS Number : 2132X Prospex Oil and Gas PLC 26 April 2019 Prospex Oil and Gas Plc / Index: AIM / Epic: PXOG / Sector: Oil and Gas 26 April 2019 Prospex Oil and Gas Plc ('Prospex' or the 'Company') Resource upgrade at Podere Gallina investment and Selva gas field ('Selva') Significant production expansion potential at Selva Prospex Oil and Gas Plc, the AIM quoted investment company, is pleased to announce that operator, Po Valley Energy Limited ('Po Valley'), has informed its partners of a substantial upgrade to the resource estimate for the Podere Gallina Exploration Permit ('Podere Gallina'), and specifically the Selva gas field resources in the Po Valley region of Italy to 14.1bcf contingent resources ('2C') and 91.5bcf prospective resources (best estimate). Previously gross resources for Podere Gallina stood at zero 2C resources and 52.7bcf prospective resources, alongside 13.3bcf of 2P reserves. The resource upgrade for the 331km(2) Podere Gallina licence area has been validated by independent sub-surface technical services consultancy, CGG Services (UK) Limited ('CGG'), via an updated Competent Persons Report. Prospex holds a 17% interest in Podere Gallina, equating to net 2P reserves / 2C resources / prospective resources attributable to the Company of 2.26 bcf / 2.40 bcf / 15.56 bcf respectively. Highlights: -- Substantial upgrade to gas resources at Podere Gallina validated by CGG - provides significant scope for low risk expansion of production from Selva: o Selva assigned gross contingent resources of 14.1 billion cubic feet (bcf) (previously zero) following evaluation of the historical gas producing North Flank and South Flank reservoirs, with chance of success on the prospects of between 60% and 70%, and 2C resources of 8.9 bcf and 5.2 bcf respectively o 74% increase in aggregate gross prospective resources (best estimate case) to 91.5 bcf from 52.7 bcf following detailed evaluation of four large prospects -- Upgraded resources are in addition to gross 2P reserves of 13.3 bcf already assigned to Selva by CGG -- Prospex's 17% interest equates to 2P reserves of 2.26 bcf; 2C resources of 2.40 bcf; and prospective resources of 15.56 bcf net to Prospex - providing significant asset backing -- All reserves, contingent and prospective resources lie within the Selva Malvezzi Production Concession area within Podere Gallina, which contains the Selva gas field -- Production at Selva remains on course to commence in 2020 at a gross rate of up to 150,000 cubic metres per day (5.3 million standard cubic ft per day) following preliminary award of a Production Concession by the Italian Government in January 2019. The new reserve and resource estimates for Podere Gallina are detailed in the table below and follow the successful drilling and testing of the Podere Maiar 1 well in January 2018. Selva Gas Field summary bcf Gross Reserves 1P 2P 3P ----- ------ ------ 4.1 13.3 29.8 ----- ------ ------ Reserves Net to Prospex 0.70 2.26 5.07 ----- ------ ------ Gross Contingent Resources 1C 2C 3C ----- ------ ------ 5.6 14.1 30.7 ----- ------ ------ Contingent Resources Net to Prospex 0.95 2.40 5.22 ----- ------ ------ Gross Prospective Low Best High Resources ----- ------ ------ 54.3 91.5 194.8 ----- ------ ------ Prospective Resources Net to Prospex 9.23 15.56 33.12 ----- ------ ------ Prospex non-executive Chairman, Bill Smith, said, "The new resource estimates for Podere Gallina further highlight the level of asset-backing behind Prospex, particularly when compared to our current market cap. It also demonstrates significant scope for a low risk expansion of production at Selva through an additional 14.1bcf (2C) of natural gas contingent resources in the Selva North and South Flanks. Progress is being made to bring Selva online, specifically the preliminary award of a production concession earlier this year which keeps the field on track to commence production in 2020 at a gross rate of up to 150,000 cubic metres per day. At this rate and subject to gas prices, we estimate Selva will generate significant net revenue to Prospex. "Prospex, however, is a growth as well as a value play. With gross contingent and prospective resources of 14.1bcf and 91.5bcf respectively, Podere Gallina offers considerable run room. Elsewhere, a work programme to de-risk gross prospective resources of up to 2tcf of gas, including an historical discovery at the Tesorillo gas project in southern Spain is ongoing. Meanwhile preparations are underway to drill a second well later this year at the Suceava Concession in North East Romania targeting a lookalike structure to the Bainet discovery which was successfully drilled in 2017 and is currently on production. This is an exciting period for the Company and I look to forward to providing further updates on our progress, as we look to deliver multiple value trigger events for our shareholders." | johncasey | |
25/4/2019 20:35 | BB, they most likely wont buy yet as they plan more dilution. | vauch | |
25/4/2019 15:06 | BoD should be ashamed of themselves go back and read about great prospects for 2018 & 2019 when all along it was 2020 at earliest. Why don't they buy shares at these levels and I'm talking 10m+ as minimum | blueblood | |
24/4/2019 16:42 | What a true POS this is. The comms from BoD are appalling... | blueblood | |
16/4/2019 13:21 | Watch the presentation by CEO of Prospex Oil & Gas at The Global Group UK Investor Show here: | leeroy jenkins | |
01/4/2019 08:34 | can someone explain to me how marketmakers can drop the price on no trades? | johncasey | |
28/3/2019 15:41 | All buys today. | ccr1958 | |
25/3/2019 10:47 | Congratulations to the BoD who have completely ruined the share price through lack of progress on all 3 projects. Well worth the money... | blueblood | |
15/3/2019 11:21 | hxxps://www.voxmarke I think we will eventually see value realized - either in anticipation of the Tesorillo drill end of this year / start of next; or failing this, upon eventual sale of the company to a major late 2020/2021 (largely dependent on Spanish drill success). Ed has been keen to emphasize the multiple corporate sales he has achieved in the past with the current management team (2013 Peppercoast Petroleum: divested LB-13, an offshore Liberia exploration block for $107m - now in the hands of Canadian Overseas (17%) and ExxonMobil (83%); 2014 Black Star Petroleum: Guinea Bissau 4B (800m barrel lead/prospect) and Namibia 2913B, the follow on vehicle sold to Impact Oil and Gas for £5.1m - up 90% from summer 2013 raise). There is quite clearly a frustratingly large disconnect between the share price and the NPV of the Italian & Romanian assets, let alone the additional potential prospectivity in Spain. The circa 70% share price decline over the past year has served to highlight our frustration at more funding required (loan notes) and further dilution of our equity to the tune of 30% or so. However, I think if investors are patient with at least a 2 year time horizon, the cashflow generation from the Italian and Romanian assets by themselves (not including the second drill on the EIV-1 Suceava Concession) should justify a valuation multiples above our current £2.4m market cap. Projected revenue in year 1 (2020) at the Selva Malvezzi Gas-Field is expected to be at least £1m per annum .... | jpharks1 | |
14/3/2019 07:56 | Another los in the bottom drawer 🙃 | ccr1958 | |
13/3/2019 17:06 | ccr this will need to settle for a month or so now. once a time line ref new drilling is announced then it may start to move up | vauch | |
13/3/2019 12:04 | and the placing was over subscribed so they must know it was a bargain price | johncasey | |
13/3/2019 10:42 | Yes defo a chance to get in low AGAIN. | ccr1958 | |
13/3/2019 01:13 | this is why i bought more today..the market cap is now £2.5m and pxog are now producing more gas[£75k/month | johncasey | |
13/3/2019 00:29 | this is why i bought more today..the market cap is now £2.5m and pxog are now producing more gas[£75k/month | johncasey |
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