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Yep solid finish.... Be nice to get the 7am RNS we are all hoping for .....and see this open well above 3.5p Follow the money as they say!
Nice buys end of day someone very confident with that sort of money
Hopefully it will give APEC the boot up the Ar $e they need.
I note states ‘reserve right’......so more strongly worded than others, but doesn’t give absolute deadline.
I wonder whether there is any limit to how long a bank will attempt to clear a transfer?
If it says after a year that it's still processing it, would it not look ridiculous?
I just think the assurances given that the money is en route must have been convincing enough for the operation to proceed with the survey..come next Monday if no funds have arrived a simple RNS just saying another push back date to the 16th just wont be acceptable.
China is one of major importers/exporters/investors in world....if they did business like this, quite simply they wouldn't be. I do not believe this money held up by HSBC, certainly not at this stage.
Information and detail has been poor from PVR/LANS, as the hold up has continued it would have been nice to have had more detailed info....but they just havent real explained why after so many weeks still no money...not pointed finger.
That said I dont know why APec alledgedly tried to prove theyed sent it, if they havent or released a detailed explantion on the hold up.
I also dont understand why land survey still going ahead if no funds......
Its the fact land/sea bed survey is going ahead that keeps me in, as it makes me feel there must be a back up plan or they know where funds currently are....so all in all certainly a lot of questions and not a lot of answers.
Given this last statement I would of thought APEC would be pulling out all the stops to make sure the funds arrive before or on 9th Sept..(next Monday)
Snippit from last RNS...
As at close of business on September 2, 2019, no funds had been received in EXOLA's account. Accordingly, in granting APEC a further week's extension to September 9, 2019, written notice has been issued to APEC by Providence/EXOLA that, should the APEC Loan Amount not be received by the close of business on that date, Providence/EXOLA and Lansdowne reserve the right to end exclusivity, while also considering all legal remedies available to them against APEC for contract non-performance, including the re-assignment of equity in SEL 1/11.
My view is APEC were happy with this loan and the terms...but if it is being held up by Chinese red tape and is nothing to do with APEC (they have provided proof its left their acc) they must understand this is damaging to all parties involved ..especially APEC ...and give more clarity on when it can be expected to complete... another week/month/3months? I assume its expected imminently hence just the weekly pushbacks and not Q2 or Q3 which could been seen as positive, lets hope the mention of alternative funding arrangements will be the push that's needed.
Back the truck up, the deal was well underway at five years post appraisal well. Those five years were truly awful in development engineering terms involving severe drops in the oil price.
I agree that if the money can be raised, both share prices will fly, but it took PVR seven years to secure this deal.
What are the chances of getting another?
And if PVR goes it alone in an attempt to attract a partner, why didn't it do that instead of spending seven years looking for one?
4-5p is very likely on funds arriving IMO. The SP and investor sentiment has been beaten to death repeatedly the last 12 months and funds will be utterly transformational. Even bye-bye APEC and a fundraise for 1-2 drills would still unlock massive SP upside here. GLALTH
If funds arrive this should leave 3p behind
If the monies arrived.. Expect this to double overnight from here.. Not counting any chinese chickens though. :)
Good they gave them bit of stick in last RNS...cannot wait forever.
A little bit of movement upwards .... perhaps we might get a bit of good news soon....
I would be surprised if PVR didn't start looking at alternatives at least weeks ago, when they realised there was a problem.
Obviously, if the deal with APEC were to fail then a new partner would need to be found and, in the meantime, TOR might have to stop drawing his salary.
Presumably, he would be prepared to do that for the sake of the Barryroe project.
I'm hopeful the survey is going ahead...does that show confidence the PVR know the money is Definately coming ....from one source or another.? The fact they have said they will look at alternative funding if the Chinese money doesn't arrive may have given the poke to get them moving. I'm sure they had a plan B all along which don't not involve a Chinese takeaway!
Probably but considering what's been going on here for the past 2months, does anyone other than APEC have ANY idea what's happening here? I hope money comes but I don't think it's likely. Let's just get survey going and see what happens.
'Personally don’t see any chance of money arriving.'
If HSBC agreed with you, wouldn't they reject the transfer?
How Pvr have three weeks money and yet our share price got whacked way more than there’s.
Odd how large but at end of day here 6.5k sure I saw.
Personally don’t see any chance of money arriving.
Amazed Pvr board still going on about HSBC, I can do amazing forges with a computer and photocopier! Lol.
So all in all not good......but interested to see how this all pans out ....
Pvr still doing site survey so there must be some plan......surely!
All kinds of whacky conspiracy theories over on the PVR board... much quieter over here. Sitting... quietly... awaiting the funds arriving! :) GLA.
Quiet before the storm I see
There will be on Friday when news lands saying the cash is delivered!
Jaysus Wept! An absolute avalanche of buys coming through!
BOOOOMMMMM
Red to blue