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Even news of drilling Velociraptor will see 5.5p and a lot more certainly for a period but hopefully for good. Even news of the other parcels we hopefully are going to awarded will send the price up. But yes it will be the LP that really sends this SP up.
Brel, after listening to Mike Buck, I believe the deal with DQE is to use the revenue from the oil we take out the ground
Also Brel it has been mentioned there's a possible multi well agreement so if say 6 wells x 800 barrels a day 4800 X say $80 a barrel = $384k a day. That soon mounts up - less MG taxes obviously. Also I read a piece regards fracking which Mike Buck mentioned they would potentially do. Fracking can increase the normal flow rate by 1 to 30 times as much. So work that one out if it was 5 times as much - nearly $2 million a day revenue. This is obviously potential not factual, but reads good
15 wells are planned. So lot of oil
LP =$$$$$
It is all a matter of time. Rare opportunity to find the like if MATD.
The share price is a real bargain guys.
Once we get to the point you describe we would be talking about advance payments. Don't you think PM would get a credit line with its Bank?
At the risk of upsetting Dozy et al.
The LP IS coming and is factored in to the current SP. There isn't enough cash on hand to finance Heron production costs & further (20%) exploratory drills. If the SP ever stabilises at 10p or higher there will be another $10m cash raise at around 5p. IMV
What's the point of having a partner if PM is going to fund everything
When asked about funding MB said that they were:
'Comfortable...... for now'.
I think it's all about how comfortable MB is about going into the 2023 drilling season without being fully funded for the planned work.
I'm sure he'd be delighted to be able to consider his options with the Land Permit granted but he doesn't appear to be any better able to be sure if or when this will happen than the rest of us and past experience isn't great.
If he's doing his job then at some point he'll have to pull the trigger to raise funds to cover the year's planned activities.
p.s. Anyone seen Valueinvestor recently?
Badprophet the more you post the more it is now so obvious that you are a deramper, probably trader. To say the LP is factored into the SP is absolute cobblers and you know it. As previously mentioned for someone who is not invested in PM you seem to spend a lot of time posting negative stuff on here. You always seem to appear when the SP is in decline and vanish when it's on the up. Never a good word to say about PM. A sad deceitful investor.
I can't believe how disorganised the Mongolian agencies are.
They put a results date on their website and missed their own target, and so many days later, we still dont have any results.
It's a joke on how they run Mongolia
It is easy to criticize MG, however if you look around her you will see even in the UK planning permit may take years!
This permit is a major step forming and we all know that it is just a matter of time to get it. When landed the price would be double digit. From here 10 baggers for sure. Smart guys invest when derampers scare week guys.
Much higher volume of Buy to Sell trades again and yet the SP goes down, again ...
Brel
Have you listened to the recent MB presentation. You will find a full explanation of how the multi well approach will be funded on the Heron site.
Well, here is a transcript of what MB had to say about the financial situation of PM... It sounds very reassuring to me :
"well we raised 10 million dollars in 2021 in the in the hope of being able to start because of all the promises that have been made about the land issue being fixed so quickly obviously that didn't happen but we haven't sat on our hands for the year as I say we've we've bought equipment we're around about six million bucks in the bank now... you know we've been reasonably through with it on overhead we certainly haven't recruited anybody new we've been running with the same team we've had throughout we intend to continue with that as we enter into the development so we've got plenty of money left for the completion of Heron and some more drilling depending on what we finally come up with on terms and conditions for the dqe drilling contract and yeah we have money available to drill Velociraptor one and we'd like to get started on renewables so at the moment the cash position is reasonably good "