Prospex Oil And Gas Share Discussion Threads

[temmujin] 02/10/2018 07:51

04-Jul-18 Buy Trade Notifier Information for Prospex Oil and Gas James Smith 0.42 GBX 3,000,000 7000000
03-Jul-18 Buy Trade Notifier Information for Prospex Oil and Gas Edward Roland Dawson 0.39 GBX 1,308,900 5272919

[temmujin] 02/10/2018 07:46

ok placing at 0.5p or why would directors purchase shares at higher price than todays in july

[nicosevos] 02/10/2018 07:27

Thanks for the link......

Still a placing on the way,imo
gla

[temmujin] 01/10/2018 22:14

not according to mr dawson

[nicosevos] 28/9/2018 10:18

Only hold a few here now, placing ahoy,imo
gla

[temmujin] 28/9/2018 10:04

this wont be down for very long...got a whiff of shorters blood already

[tradinglad] 28/9/2018 07:38

I think it'll be a while before we see anything special from this share but I'd far rather that, than the BoD going for broke every month. Once the Italy asset is brought online (probably ~Dec'19) the company should swing into quite a nice cash flow position which would lead one to believe that any further discoveries should make for some nice returns. OR it'll 5h1t the bed, actually more likely to 5h1t the bed.

[ccr1958] 27/9/2018 16:40

Welcome temm , this is a dog but welcome 🐶

[temmujin] 25/9/2018 09:36

gas prices soaring..wont be this low soon

[temmujin] 21/9/2018 11:39

hxxps://audioboom.com/posts/6454916-prospex-oil-gas-pxog-john-meyer-on-solg-geo-kod-and-russ-mould-on-cnct-alu-gbg

[temmujin] 21/9/2018 11:39

moving up now...another million buy

[temmujin] 21/9/2018 10:43

this is massive news with the up coming cold winter forecast..cant understand why people arent buying this share in their droves

Prospex Oil and Gas Plc, the AIM quoted investment company, is pleased to announce that it has been advised by the operator Po Valley Energy Limited ('PVE') that strong flow rates from testing operations have confirmed a significant commercial gas discovery at the Podere Maiar-1d appraisal/redevelopment well ('Podere Maiar' or 'the Well'). Prospex holds a 17% interest in Podere Maiar, which is located on the Podere Gallina Exploration Permit ('Podere Gallina) in the Po Valley region of Italy, a proven hydrocarbon province where over 5,000 wells have been drilled historically.

Podere Maiar was drilled in Q4 2017 into the Selva Gas-Field (previously operated by ENI), which historically produced 83Bcf of gas between 1960 and 1984. As announced on 20 December 2017, two gas-bearing reservoirs, C1 and C2, were encountered by the Well in the Medium-Upper Pliocene sands of the Porto Garibaldi formation. Peak flow rates achieved at both levels during testing are as follows:

· C2 (net pay of 25.5 m): 148,136 scm/day (5.2mmscf/d) on a 3/8 inch choke and a pressure differential of 11 bar with no water production - pressure recovery to formation pressure occurred in two minutes

· C1 (net pay of 15.5 m): 129,658 scm/day (4.6 mmscf/d) on a 3/8 inch choke with good pressure recovery of approximately 12 minutes

Tables showing flow test results for various choke sizes at both levels are set out below.

Based on the strong flow rates, which significantly exceed pre-test expectations of 100,000 scm/day, 99.1% methane gas content recorded at both levels, and the Well's close proximity (600metres) to the Italian national grid pipeline connection, PVE has declared Podere Maiar a commercial discovery. PVE will now prepare and submit a production concession application to the Italian Ministry in H1 2018. The Ministry has been formally informed of the discovery and officials were in attendance during the successful test.

In tandem with this, analysis of the log and well test results will commence to generate revised contingent resource and reserve estimates, which is targeted for completion in Q2 2018. This work will include reservoir engineering to optimise production from the two gas levels over the field life.

Crucially, further upside exists as in addition to the Selva field, Podere Gallina holds several other targets, including the much larger East Selva prospect. The remaining interests in Podere Gallina are held by PVE (63% - operator) and United Oil & Gas Plc (20%).

Prospex Non-Executive Chairman, Bill Smith, said, "We ended 2017 with a commercial gas discovery in Romania and thanks to these significantly stronger than expected flow test results we have started 2018 with a commercial gas discovery in Italy. The strong momentum behind Prospex is set to be maintained in the months ahead: at Selva we look forward to reporting revised contingent resource and reserves estimates as well as updates on the production permitting process; in Romania, production and first gas sales at the Bainet gas discovery are expected to commence in Q2 2018; while in Spain work is planned later this year to delineate a gas discovery, which has been independently assigned unrisked prospective resources of 830 Bcf (Best Estimate) with upside in excess of 2 Tcf. The year ahead will not be short of high impact newsflow, as we focus on exposing our shareholders to near term value trigger events, such as drilling and first production."

[temmujin] 21/9/2018 10:14

thats my 1m buy..trust me this will fly soon..ridiculous market cap

[temmujin] 21/9/2018 10:03

just bought in today...seems abit cheap for a gas producer

[vauch] 17/9/2018 14:33

That article highlights the disappointment from missing targets since its publication

[ccr1958] 17/9/2018 09:37

Yes ,good news ,slow burner, this .

[hazl] 17/9/2018 08:28

"Prospex first announced the acquisition of a 50% interest in Suceava in August 2017 and in the intervening period not only has the joint venture made a commercial gas discovery but we have completed planning, permitting and development work and now brought the Bainet well into production. To have successfully put Bainet into production in such an incredibly short time frame, congratulations must first go to Raffles, the operator, whose professional approach and proven experience have enabled us to reach this very significant step on budget. I would also however like to take this opportunity to congratulate our own first-rate team, who not only identified Suceava as a suitable project but their contribution along the way. This is an incredible achievement for any oil and gas company, let alone a junior such as Prospex.

"We intend to replicate this success elsewhere on our other licences, including the Podere Maiar gas discovery onshore Italy which is being advanced towards production, and Tesorillo in Spain where work is underway to de-risk up to 2TCF of gross prospective resources. With activity ongoing across our asset base, I look forward to providing further updates on our progress."

[daniel levi bmd] 17/9/2018 08:26

FYI

Angus Energy, Bergen, Liargas & The Dirty Tricks That Fooled ShareProphets! Placing Ahoy!

Dan
x

[hazl] 17/9/2018 08:20

I SUPPOSE the director buys a month ago was a sign of good news to come.....

[hazl] 17/9/2018 08:16

Yes looks great news!

Got a few this morning.

[nicosevos] 17/9/2018 07:21

AT last!!!!!!!!!!!!!!!!!..................
GLALTHs

[blueblood] 10/9/2018 17:52

No wonder they said they were fully funded for 2018 they have done f all!