Prospex Oil And Gas Share Discussion Threads

[johncasey] 28/5/2019 18:31

its because i'm in it mate..mms hate me

[ccr1958] 28/5/2019 18:25

Something always holding this back John.

[vauch] 28/5/2019 07:58

Mid June drilling about 4 week to target.

[johncasey] 28/5/2019 07:58

that'll be the day..jynxed share this

[ccr1958] 28/5/2019 07:53

More good news be nice to see it reflected in share price

[vauch] 28/5/2019 07:17

RNS
28 May 2019
Prospex Oil and Gas Plc ('Prospex' or the 'Company')
Onshore Romania - New Exploration Well Update

Prospex Oil and Gas Plc, the AIM quoted investment company, has been advised by the operator, Raffles Energy S.R.L. ('Raffles'), that all relevant permits are now in place to drill the Bainet West prospect ('Bainet West') on the Exploration Area of the EIV-1 Suceava Concession (the 'Concession' or 'Suceava'), North East Romania. The civil engineering works at the drilling site started yesterday with the aim to allow on-site mobilisation of the drilling contractor in the second half of June. Subsequent drilling operations at Bainet West are expected to commence around end-June / early-July. Prospex's wholly-owned subsidiary, PXOG Massey Limited, holds a 50% non-operated interest in the 984 sq km Concession.

[block4gooner] 24/5/2019 11:29

*uptick bloody autofill:)

[carlsagan1] 19/5/2019 11:40

Have any of you folks used X-O(by jarvis) or iweb-sharedealing(by halifax)?

Interactive Investor will be increasing the fees again from June 1st from £22.50 a quarter to £9.99 a month, regardless of whether you trade or not, ive decided its time I finally transferred to another broker.

x-o and iweb advertise a simple flat trade-only fee of £5.95 per trade and have no inactivity or monthly/yearly admin charges.

[ccr1958] 17/5/2019 18:48

Not big enough imo ...

[johncasey] 17/5/2019 16:05

big rumour Spain news imminent

[johncasey] 12/5/2019 09:42

takeover time!

Oil Giant Total SA Goes Further in Liquefied Natural Gas With $8.8 Billion Deal in Africa

11/05/2019 1:29pm
Dow Jones News

Total (EU:FP)
Intraday Stock Chart
Today : Sunday 12 May 2019

Click Here for more Total Charts.
By Neanda Salvaterra
Total SA's deal to buy Anadarko Petroleum Corp.'s assets in Africa cements the French oil major's position as the world's second-largest provider of liquefied natural gas while pushing its business deeper into dangerous parts of the world.

Total said earlier this week that it agreed to buy Anadarko's African assets for $8.8 billion in a transaction that would help Occidental Petroleum Corp. finance its takeover of the Texas-based oil producer. The deal was a key part of Occidental's victory over Chevron Corp. as the companies vied to buy Anadarko and its coveted U.S. shale holdings.

If the sale goes through, Total will inherit projects across Algeria, Ghana, Mozambique and South Africa containing 1.2 billion barrels of oil-equivalent of proved and probable reserves, of which 70% is natural gas. The assets help Total gain ground on Royal Dutch Shell PLC, the market leader in natural gas, and brings it closer to its stated goal of becoming a cleaner company with a portfolio that contains more natural gas than crude.

The Paris-based oil firm has completed a series of deals in recent years, including the purchase of French utility Engie SA's liquefied natural-gas business in 2017. Before the Anadarko deal, Total had about 10% of the liquefied natural-gas market, second to Royal Dutch Shell, which holds about 20%, analysts said.

Total said the deal should be cash-flow positive from 2020, even if benchmark oil prices fall below $50 a barrel, and the assets should generate more than $1 billion a year in free cash flow from 2025.

"Natural gas is at the heart of Total's strategy," Total Chief Executive Patrick Pouyanne said at a gas conference in Shanghai last month. "We want to be integrated along the gas value chain to take full advantage of this growing energy source and discover new [liquefied natural gas] outlets."

Total has said it wants its portfolio to comprise 60% gas holdings by 2035, up from roughly 50% in 2018.

The company and other oil giants are moving into natural gas as oil consumption is expected to rise by 0.5% a year between now and 2040, according to consulting firm Wood Mackenzie, and some forecasters say demand could stop growing altogether within the next decade. As buyers pivot toward cleaner fuels, global demand for natural gas is expected to rise by 1.6% annually from 2016 to 2022, according to the International Energy Agency.

Natural-gas projects, though, tend to deliver lower returns than oil projects. The weighted average internal rate of return for liquefied natural-gas projects in the pipeline is about 13%, compared with 20% for deep-water projects and 51% for unconventional oil developments like shale, according to Wood Mackenzie.

Historically, Total has shown a higher tolerance than its peers for doing business in dangerous places. Still, taking over Anadarko's assets in Africa presents challenges for the company.

In a series of raids in February, insurgents in Mozambique attacked an Anadarko convoy in an area near the company's natural-gas development. The company placed its project-construction site on lockdown, and one Anadarko contractor was killed in the raids.

Total has joined with Algeria's government on oil-and-gas projects since the 1950s, but recent political turmoil in the country -- Africa's largest producer of natural gas -- delayed the progress of some new gas agreements, including deals with Anadarko and Exxon Mobil Corp.

Anadarko's Mozambique assets would give Total a big boost in the gas business. The region is home to one of the world's largest natural-gas deposits, just ahead of Egypt's giant Zohr offshore field.

Anadarko has been developing a liquefied natural-gas project off Mozambique's coast, which was expected to start producing in 2024. Total said it would inherit 26.5% participating interest and operator status in the Mozambique project, which represents 2 billion barrels of oil equivalent of long-term natural-gas resources.

"This Mozambique asset will be producing for decades, that positions Total in LNG into the middle of the century," said Stuart Joyner, an energy specialist at the research firm Redburn Partners.

Total's deal occurs as the major oil companies are under increasing pressure from policy makers and activist investors to comply with the 2015 Paris climate accord and lower global carbon emissions from fossil fuels, which have been linked to rising global temperatures.

A group of more than 4,500 shareholders working under the auspices of the Netherlands-based group Follow This have been pushing Royal Dutch Shell, BP PLC, Exxon Mobil, Chevron and Equinor ASA to set and publish emissions targets that are aligned with the goals of the climate agreement.

Total so far hasn't been presented with a shareholder resolution to lower its carbon footprint, but the company is trying to get ahead of the curve, analysts say.

"This is all part of [Total's] broader strategic aim to shift towards a low carbon energy future," said Valentina Kretzschmar, a director at Wood Mackenzie.

[burtond1] 02/5/2019 09:47

https://twitter.com/tmsreach/status/1123865272648073218?s=21Time to BUY PXOG??

[blueblood] 30/4/2019 20:17

Need to give us proper update on Spain. Over a year with no real progress?

[ccr1958] 30/4/2019 17:30

Evening all , taking a breather ,but the future looks good .

[johncasey] 29/4/2019 10:27

here comes the cavalry..dont know how mms can keep this down..just a question of time before it blows

[leeroy jenkins] 29/4/2019 09:45

View Prospex Oil and Gas talk at The Global Group UK Investor Show:

[blueblood] 27/4/2019 18:34

Be good if 15m & 20m buys we're directors!

[johncasey] 27/4/2019 16:24

looks like they dropped the price to fill the 15,000,000 buy at the end..destitute turned bullish on lse...mmmmm

[johncasey] 26/4/2019 17:00

well that rise didnt last long..dont know i bother sometimes

[johncasey] 26/4/2019 11:22

good news but shareprice back down again..by the way im going to have destitute on lse thread one day

[pro_s2009] 26/4/2019 11:21

News today :



.

[ccr1958] 26/4/2019 11:17

Yes ... hasn't exactly bèen a great return for them .