Prospex Oil And Gas Share Discussion Threads

[tradinglad] 19/11/2018 13:39

Do you think they'll release an RNS before the merger of Petrel and Warrego is complete?

[bonzodog1] 19/11/2018 11:09

Should be a rns for Spain anytime now as per company guidance late 2018

[blueblood] 19/11/2018 09:22

What is wrong with our BoD? Why won't they tell us what's going on with full update on all assets.

[temmujin] 18/11/2018 23:41

asx news! interesting...

[bonzodog1] 17/11/2018 15:47

Some good post pal

[temmujin] 17/11/2018 11:20

Spain a potential game-changer for Prospex Oil & Gas
Share
12:00 14 Jun 2018
AIM-listed Prospex specialises in projects that are ‘fairly late’ in the exploration phase
Gas pipes
Tesorillo might hold up to 2trn cubic feet of gas
“The flow rates from our prospect in Italy would suggest we are hugely undervalued.”

So believes Edward Dawson, Prospex Oil & Gas PLC’s (LON:PXOG) managing director.


WATCH: Prospex Oil & Gas has "a tiger on a leash" with Spanish prospect

Of course, you would not expect him to say otherwise but based on the latest drilling, there does seem to be a significant mis-match.

AIM-listed Prospex specialises in projects that are ‘fairly late’ in the exploration phase.

The junior is chasing a geological play in Europe known as fore-deep and that is present in many countries.

In Romania, it is the EIV-1 Suceava Concession, where Prospex has a 50% stake.

In Italy, Prospex has a 17% working interest in the Podere Gallina Exploration Permit in the Po Valley region of Italy, again a prolific hydrocarbon region.

In southern Spain, meanwhile, there is a 49.9% option over the Tesorillo Project.

Three wells have been drilled in the last 18 months, two of which have been a success.

Flow test boost

“Chasing a geological play enables us to bring our geological expertise to what we are looking at,” explains Dawson.

“The well drilled in October in Romania [Bainet-] is about to go on production, which is a really short timeframe.

“A final bit of permitting is required after which the operator will lay the last mile pipe to tie it in and we are away.”

In Italy, flow tests from well drilled in December last year were a huge (pleasant) surprise, Dawson adds.

Market expectations were a hundred thousand cubic metres (gas) a day and both horizons tested well above that.

“When it comes on production, we think the rates will be significantly better than people thought and will bring cashflow forward and boost the NPV of the project.”

Chuffed about Italy

Dawson, a hedge fund manager before moving into oil and gas, says in all of its investment projects, it looks for good entry points.

“We did that in Italy but the confirmed flow rates were icing on the cake.”

If Italy is promising, it is Spain where Prospex might really hit pay dirt.

In December, the company acquired an interest in the Tesorillo prospect.

Drilled originally in the fifties, the aim is to apply modern technology and see what effect that has.

Tesorillo has a known gas discovery, which a competent person’s report by Netherland Sewell in 2015 estimated might hold gross unrisked Prospective Resources of 830 billion cubic feet of gas (Best Estimate), with upside in excess of 2 Tcf.

That makes it a huge target to go at, says Dawson.

“Italy was a 17 BCF prospect, so at Tesorillo we are looking at something more than 40 times larger.”

Company builder

The bullish tone was maintained in the statement that accompanied full-year results.

“[We will become a] revenue generative multi-project oil and gas investment company once the Bainet gas discovery in Romania has been brought online in the coming months.

“With production in Italy expected within 18 months and a technical programme underway in Spain to de-risk a potentially huge gas discovery, 2018 should not be short of high impact news flow.”

Dawson adds that he and the board have a record of growing companies, taking them full cycle and selling out to major oil companies.

At a price of 0.43p and a market value currently of just £5.34mln, this is clearly one to watch.

[temmujin] 17/11/2018 11:19

why i am heavily invested here...i would consider pxog my no.1 chance of becoming a millionaire in the near future...thou must not sell too early steven you stupid boy!



Spain a potential game-changer for Prospex Oil & Gas
Share
12:00 14 Jun 2018
AIM-listed Prospex specialises in projects that are ‘fairly late’ in the exploration phase
Gas pipes
Tesorillo might hold up to 2trn cubic feet of gas
“The flow rates from our prospect in Italy would suggest we are hugely undervalued.”

So believes Edward Dawson, Prospex Oil & Gas PLC’s (LON:PXOG) managing director.


WATCH: Prospex Oil & Gas has "a tiger on a leash" with Spanish prospect

Of course, you would not expect him to say otherwise but based on the latest drilling, there does seem to be a significant mis-match.

AIM-listed Prospex specialises in projects that are ‘fairly late’ in the exploration phase.

The junior is chasing a geological play in Europe known as fore-deep and that is present in many countries.

In Romania, it is the EIV-1 Suceava Concession, where Prospex has a 50% stake.

In Italy, Prospex has a 17% working interest in the Podere Gallina Exploration Permit in the Po Valley region of Italy, again a prolific hydrocarbon region.

In southern Spain, meanwhile, there is a 49.9% option over the Tesorillo Project.

Three wells have been drilled in the last 18 months, two of which have been a success.

Flow test boost

“Chasing a geological play enables us to bring our geological expertise to what we are looking at,” explains Dawson.

“The well drilled in October in Romania [Bainet-] is about to go on production, which is a really short timeframe.

“A final bit of permitting is required after which the operator will lay the last mile pipe to tie it in and we are away.”

In Italy, flow tests from well drilled in December last year were a huge (pleasant) surprise, Dawson adds.

Market expectations were a hundred thousand cubic metres (gas) a day and both horizons tested well above that.

“When it comes on production, we think the rates will be significantly better than people thought and will bring cashflow forward and boost the NPV of the project.”

Chuffed about Italy

Dawson, a hedge fund manager before moving into oil and gas, says in all of its investment projects, it looks for good entry points.

“We did that in Italy but the confirmed flow rates were icing on the cake.”

If Italy is promising, it is Spain where Prospex might really hit pay dirt.

In December, the company acquired an interest in the Tesorillo prospect.

Drilled originally in the fifties, the aim is to apply modern technology and see what effect that has.

Tesorillo has a known gas discovery, which a competent person’s report by Netherland Sewell in 2015 estimated might hold gross unrisked Prospective Resources of 830 billion cubic feet of gas (Best Estimate), with upside in excess of 2 Tcf.

That makes it a huge target to go at, says Dawson.

“Italy was a 17 BCF prospect, so at Tesorillo we are looking at something more than 40 times larger.”

Company builder

The bullish tone was maintained in the statement that accompanied full-year results.

“[We will become a] revenue generative multi-project oil and gas investment company once the Bainet gas discovery in Romania has been brought online in the coming months.

“With production in Italy expected within 18 months and a technical programme underway in Spain to de-risk a potentially huge gas discovery, 2018 should not be short of high impact news flow.”

Dawson adds that he and the board have a record of growing companies, taking them full cycle and selling out to major oil companies.

At a price of 0.43p and a market value currently of just £5.34mln, this is clearly one to watch.

[blueblood] 16/11/2018 12:41

Need volume but won't get it here without news but that may very well be 7am on Monday morning!

[bonzodog1] 16/11/2018 11:39

Here we go blue

[temmujin] 16/11/2018 10:21

i reckon its spain news...

[bonzodog1] 16/11/2018 10:07

If the news is positive this will multi bag

[temmujin] 16/11/2018 09:10

interesting re petrel..maybe good opportunity to buy pxog before announcement

[bonzodog1] 15/11/2018 06:20

Trading halt in asx for petrel pending a announcement

[temmujin] 14/11/2018 20:36

maybe this news is driving the price up?

[temmujin] 14/11/2018 20:34

gas price now up 20%! kerching!

[temmujin] 14/11/2018 13:49

gas price up 12% today...crazy! and we are down!

[blueblood] 14/11/2018 12:09

Gas prices going through roof whilst share price dropping through floor. Any director worth his salt would be getting production/revenue guidance out now!

[bonzodog1] 14/11/2018 11:15

Just bought more at this great price

[tomboyb] 14/11/2018 11:13

hmmmm -

0.24p

[ccr1958] 11/11/2018 14:08

More importantly,when we getting paid ... can’t believe this is stuck so low !