Prospex Oil And Gas Share Discussion Threads

[123trev] 19/12/2017 07:50

The company is pursuing a very progressive strategy and certainly not standing still and not placing all its eggs in one basket now soon the market will wake up to this Im sure.

[nicosevos] 19/12/2017 07:35

Yep, all looking good, they just need to get the placing away.
And it's been seriously forward sold,imo
gla

[123trev] 19/12/2017 07:24

So that explains the continued churn.

[blueblood] 19/12/2017 07:20

New asset all coming together nicely for great 2018

[nicosevos] 18/12/2017 16:18

Yes, bring on the news!!.....Next year please.....Any news now will be sold into.....
IMO...

[crystalball] 18/12/2017 16:13

I’m a little nervous . Share price is so so weak.0.45 is on the cards unfortunately .
Unless something happens to creat a turnaround . Deep in the red I am .GLA

[on target] 18/12/2017 13:51

It hasn't got interesting so far today.

[activeservo] 17/12/2017 21:38

I agree Harry.I should've topped up last Friday...

[harrytuesday] 17/12/2017 20:44

Prospex O&G about to get interesting

[ccr1958] 15/12/2017 15:00

Buyers appetite average atm, but yes I would think there will be fund raising in the future , be nice to see if Italy is commercial !

[123trev] 15/12/2017 14:53

Obviously the placing will come after good results and when the share price is as high as they can get it but the groundwork for that placing has already begun that’s how aim works they have to no how much they can raise and at what price and that’s down to buyer appetite.

[ccr1958] 15/12/2017 14:42

Makes sense to me Nick

[nick rubens] 15/12/2017 14:29

Test results coming first IMO, placing can wait as it can be done much higher and easier once the market is confident of gas flow numbers/estimates etc.

[ccr1958] 15/12/2017 14:28

Mr 500 large is back !

[ccr1958] 15/12/2017 12:03

Welcome to the 5.5 m buyer

[123trev] 15/12/2017 09:55

Your not wrong their so transparent in how they operate and I am aware that folks will say they don’t need the cash yet or they can’t do a placing at the minute because of the director buy but that dosent mean one isn’t underway in the future because they are always being undertaken.I expect a good rise before it’s announced that’s if they haven’t killed the stock by then.

[nicosevos] 15/12/2017 07:59

On Target, they've spent it,imo....Placing ahoy.....At 0.53p,imo
gla
Edit, I could be wrong of course!

[vauch] 14/12/2017 20:04

Italy will be first one most likely as Italy will want gas production ramped up asap

[vauch] 14/12/2017 20:03

Ston
Have u a twin in LSE
As same posted over their.

Only one well needs to be online to get income to cover next
So no stress ref funding

[stonefold] 14/12/2017 19:43

From the £1.6m = eur 1.8m that they raised from the last placing deduct:

Estimated Placing cost eur 90,000
Italy investment cost eur 1,150,000
That leaves
eur 560,000 or £ 491,055

from which deduct 6 months admin cost £380,000 and tie-cost for Italy well.

Oil and Gas exploration is an expensive game.

[on target] 14/12/2017 19:20

StoneFold, they raised £1.6m only 6 weeks ago.

[stonefold] 14/12/2017 18:55

IMO Strong likelihood of placing. (last time it was at an 11% discount to the share price)

By my notes after paying for:
The Italy drill, testing and the tie-in.
The Romanian tie-in.
Six month Admin cost of about £ 380,000

They would have only about £50,000 cash left before any income from gas sales started to come in.

That is assuming that all permitting and work is performed promptly and to expected cost.

That would not leave any spare funds for further investment or additional drills (assuming that the exploration permits which are due to expire, get renewed)

I doubt that they will want to sail that close to the wind, so even if they sell the other investments it is highly likely that they will have another fund raising/placing.

Probably between £500,000 and £2,000,000 depending on what they can get away with/find to spend more money on.


"...it is expected that experimental production from the Bainet gas discovery will commence in Q2 2018. .."

So no income from Romania for at least three months.
Income from Italy likely to take even longer.


Initial gas production will start at a low volume and increase over the next few months as/if the reservoir can bear it. So the first couple of months income would be modest.

[ccr1958] 14/12/2017 17:02

I know only 500k ,but buy trade @16.33 paid .58... bodes well for tomorrow !