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NOT A SHARE that is about charts. It has strong fundamentals and will change on the rubber stamping of permits in Italy and Spain. Charts will not tell you when.
Https://x.com/SwazersC/status/1772939160678007239?s=20 https://www.tradingview.com/x/oYzxF7pG/
Nice to see 100% debt free now and final cln tranche repaid in cash not dilution of shares.
This a company, unlike many other small caps right now, heading in the right direction on firm financial footing.
Expect a strong mid to end of ‘24. Position accordingly. 2 assets in production generating revenue and profits.
One thing is for sure - PXEN is on a lot of people's radar.
Moving on CLN news today.
Imagine what it does on permit news and beyond.
PXEN already have the production license for the assets in Italy and Spain. They are only after drill permits now which is quicker and easier.
MyIPA - I have 110,000 and want to add another 90,000 but can't get a quote to buy unless they move the price up!
Rock bottom and no sellers left as you say, but others have taken note of this too!
Go ly dow - shouldn't be any CLN sellers left - low vols the last week or two (1.6m rollover excluded). There won't be any new shares on the market so rock bottom prices are done. Get in whilst the goings good if not already in.
I doubt that.They have been very close fo buying new assets.Personally I would be happier if they just stuck to the ones we have
Yes. Or we will very quickly have debt again.
In this current market the strongest message is to have debt free and fully funded.
I have heard from several people permits will land in June.
Hopefully the management team can sit on their hands for a few months.
Worth actually remembering what you just read in the RNS!
"Surplus funds generated from our assets are being accumulated in the Company's investment and joint venture vehicles to provide funding for future projects, *in particular* the three wells planned in Italy and the five wells going through the permitting process in Spain."
Priority 1 - 3 wells in Italy (timelines expected to be in the nearer future than Spain, assets generating income in the meantime)
Priority 2 - 5 wells in Spain (El Romeral generating income in the meantime)
Priority 3 - Future projects
I bet this keeps going up over the next few trading sessions. Worm has turned.
I agree oilboy. I was a little concerned to read that there is "a team" hunting around for new business opportunities. No better way to waste money.
Some bast**d is buying up all the loose shares! Very difficult to buy!
I do hope the company uses the funds to drill the next Selva wells to allow the SP to rerate before embarking on any new investments
Truly stunning
The company has a great portfolio of assets so the sky is the limit with the debt and CLN shares no longer holding this back.
Will settle back over 10p shortly
There's a few spouting rubbish about needing a raise etc even though that was clarified in January by the company. Just goes to show they got plenty of cash.
And even better no dilution as company paid back the amount in full! Proves the cash is available for any doubters - and that it's coming in monthly.
Also note a load of Po Valley Operator RNSs in Australia yesterday and today - lots of buying going on their end as well
All going in the right direction!
Agree - and the removal of the CLN's removes a red flag from the share for potential new investors - so called death spiral financing is removed. I hope we see an adjustment in the price accordingly from here.
Debt free and accumulating funds for future wells.This will come good....eventually!
Can’t even say these are bottom drawer anymore, I’ve stuck mine under the floorboards🙈
I'm Scottish anyway
Que?
Islandgeezer more language to confuse you.
If you were a Frenchman, the word Bon for PXEN would mean good !
But as an Englishman the word Bon for PXEN means 𝗕𝗮𝗴 𝗢𝗳 𝗡𝗮𝗶𝗹𝘀 !!
Any day now