The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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It is because we think we know what will happen but it actually hasn't happened yet and in the past they have let us down. A nice update on the 22nd will help. They also need confirm the premium price they can command for the oil. I understood it be around $6.00 earlier in the year but it may be higher now that the low sulphur rules are actually upon us.
DYOR
Regarding PQE...No matter how many buys we see over there and there have been plenty, it seems to have a great deal of trouble getting over 0.26 and holding the gain. Best guess is that there are so many shares been issued at prices some could describe as a giveaway shares at 0.13 and 0.18 etc.. and are clearly being sold ahead. Some will always take profits of course, but the story with PQE is quite remarkable and serious chances of multiples of current price are achievable in my opinion. That makes it all the more surprising some are selling into any gain. It will get past the 0.26 level at some point and it could be today but the selling has to stop first.
https://twitter.com/BGPTRADING/status/1195327147134595072?s=20
I will presume that your comments are genuine...
In the short term Attis is waiting on a few things.
Confirmation that the BIA has recognised Attis as the operator at ZR (it means costs are reduced and we have more flexibility). We can't sell ZR unless we are the operator. We are operating it but under a sub-operatorship from Glenn Supply. If we tried to sell it with GS in place the purchaser would have to deal with GS not Attis.
An operational update to say that the rest of the wells at ZR have had a baby workover (really just a bit of titivation).
Confirmation that the wells are Austin are producing as we want them to: both Montsanko and Morris 1 have not lived up their billing to date.
Confirmation of sale agreement on Austin.
Progress on the potential JV.
The biggest is the JV but that now looks to be towards the end of November for the next update.
However, the thing that could be very big before the end of November is PQE. What percentage we hold is not relevant, what is relevant is what it is worth. If PQE confirm next week that they are going to 24/7 working, targeting 900/1,200 bopd that is huge. It means no more funding requirements to cover payroll, it means unlocking the debt facility they promised, it means the second plant/plant upgrade can be initiated, it means potential partners now know it can be run 24/7 on a volume basis with a decent level of throughput.
If PQE is worth $1.2mil to Attis before April 2020 it pays for a batch of four wells plus 1 SWD in the Red Cave and it strengthens our negotiating hand in the JV if the potential JV partners can see that is likely. Once the 24/7 announcement is made, I expect we will see a number of PQE JV/licensing announcements made. Based on actually reading the RNSs and the presentations it looks to me that they will have 5/6 plants in production by end 2020/mid 2021.
The new plants will be planned at 3,000/5,000 bopd from day one and PQE gets a royalty on the production. Once it is clear that it will happen the price will really move.
DYOR
Why do you post so much about PQE
Attis owns a tiny percentage of that company
I recon ors doesn't own shares here but uses this BB to promote petrol tec