Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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Yes Congrats Espen
It's take a awhile but you got there I remember you mentioned a TR-1 6 months ago .
You must feel now's a good time to hit the limit.
Best of luck to you and all
Famous at last Espen. Your very own rns. Just under 3.2%. Well done. Atb.
Senior Commercial Manager getting involved.
Nice with some upward movement today
Over 12 million shares bought.. no sells.
This is being held back to let someone in..
Kevin Bacon probably describes it better than anyone..
The world needs oil and gas, at the moment there is not enough, so they are going to have to get it from somewhere, our time will come, and soon. [gla]
it will be the next 4 weeks that will give an indication as to what is really happening - if no large tranche of placing share share hit the market and the price remains static then something really must be happening . We would need to be at .24/.25 share price to sell at a profit .
The broker got 4% of the placing shares for his fee. My view is they are being sold. Soon be gone if I am right
Well, if something was happening, it looks like it's stopped, with the sp drifting down. Atb.
GORDON I keep thinking about your post earlier in the week about share price been held. I more and more think that its possible. Placing without a discount to share price and no increase in share price to allow for forward selling of placing shares at a profit. It all says share accumulation behind the scenes and maybe they don't want us to know who they are. I don't think we have a possible take over attempt from a major they have codes of conduct that they must stick to. However there are plenty of others who would like Oilex Cambay asset. If there is no big sale of placing shares over the next few weeks then we have to ask why.
Some of us have been waiting for 7 years. Lol.
Absolutely, Espen. Tbh, I actually thought it was a little disingenuous of the company to keep quoting a near 1TCF contingent reserve, when by definition that means it is not all recoverable. At the risk of blowing my own trumpet this is part of what I said on 12th Aoril.
" As I discussed the the other day, the I TCF is the contingent resource. The old 2P value for 100% of Cambay was around 200 bcf. Of course that was before the massive increase in prices so would be higher now."
I did think that the massive increase in prices might push the commercially recoverable amount higher than 200 bcf. Atb.
Also nice to see confirmation that refrac timeline is still on track
I’ll much rather operate with as realistic figures as possible. So 8m barrels of condensate x $65 is about half a billion alone, plus the gas of course. Quite some figures indeed Gordon, plus prices likely to stay up for foreseeable future. atb
It is in fact based on what used to be stated as the 2P reserve in the gspc days. That was 93 bcf for a 45 % holding which works out as 206 bcf for 100 %.
previous tcf contingent reserve
https://www.londonstockexchange.com/news-article/OEX/cambay-reserves-re-classification/15471356
As expected, the 2P reserves are now given as just over 200 bcf. This is still a massive amount but avmuch more realistic statement of what is recoverable rather than the previous tcf. Atb. contingent reserve. Gla.
1st Tranche to be paid tomorrow.. ;-)
Every consolidation where you end up going to say 19p is always bad news for ordinary shareholders. I have specialised in oil and gas for over 25 years and cannot remember a consolidation that's been good news for ordinary shareholders as within 12 months there is always a group of derampers come along and make a good profit taking the price down(the headroom with such a consolidation is always on the downside not the upside) Better to do it on a long term bull run backed by good solid results if at all and I would strongly advise against it.
Maybe Roland had a solid poo rather than a runny one.
Yep, agree Gordon. I added a line around the refrack dates in my questions, just indirectly asking if they remain on track. Would be nice to learn daily flow has increased, let’s see.
Dave. Can't see any problem with say a 100 to 1 consolidation, giving an sp of about
19p and 800 million shares. It's not true to say that at these levels it won't drop further, as it has previously been as low as 0.06 p.