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Weekly technical chart shows bullish touch of weekly 8/4/24 high. Also last weekly price bar shows positive rejection of low and close well above mid price. Turning to the daily chart, there was an bullish outside price bar, yesterday, which is a bar which encompasses the high and low of the preceding price bar, and where the close is up. Price target, suggest the volatility based Bollinger upper band, which is about 6.44.
Turning now to the indicator chart, the RSI(relative strength index), crossed above 50, which is bullish, and was further enhanced by a bullish failure swing of the RSI, which crossed above its recent high swing value. DYOR.
Today’s triggered avalanche of buying shows me how much money is on the sidelines and how many watchlists are monitoring this share for entry on daily basis.
Again, any wait to buy in lower than the small amount on offer @ 5.38p yesterday/ today proved frivolous. Those cheapies were mopped up and then multiple buys kicked in taking ask to 5.8p+ in under 1hr.
I don’t think we see low 5 buys again. Got to buy when on offer - smart money appears to be circling - as demonstrated by today’s price action.
To be fair l, the man from Bristol has stiffed me:
- Circa £1.5m across funds owned from entities (eg Tarba) and taken into account April / May cash from Selva.
Worth mentioning Stiffy old freind - £1.5m in Director options not expected to be bought which start to expire in 9 months, so they will want to sell the company.
Mark is very conservative and trusted - which is great for all shareholders.
But that bit of flamboyance (on the 1st slide anyhow), pointing to how he's been involved with 2 companies to date which he helped grow and sell for multi-millions was telling for me.....even if his facial expression belied this.
1st time I've seen him bring this into the conversation.
Maybe he needs to hit Las Vegas and the poker tables....
Meanwhile - come on Stiffy, join the TG again, it’s about to get fun…
More like 650,000 Euros in the bank. Not 2,500,000 Euros
#PXEN - research 🗒
✅ 2 producing assets now from onshore indigenous European gas assets
✅ Balance sheet strengthening month on month - circa £2.5m in bank
✅ Use cashflow to self-finance future drills on both Selva + El Romeral, no raises needed for this activity
✅ No Debt / No Warrants = No Dilution
🔹Italian Selva asset; generating circa €3m* Profit to the bottom line net of Vat, Royalties & Taxes from just 1 well
🔸PXEN own share of entire gas ⛽️ field - the next two targets contain a gross estimate of 10X the initial producing well- drill programme to be planned for next well(s).
🔹Spanish El Romeral asset in production: circa €1m profit per annum to PXEN
🔸11 more wells once permit granted. 3 wells to be drilled immediately.
🔹Only requires 2 wells at 25,000 scm/d to increase 33% to 100% production @powerstation (potential to increase to €3m Rev per annum)
🔸Spanish Tesorillo asset, once license renewed in ‘23, option to increase 15% to 49.9% ownership for €1.725m
🔹Other expansion plans around Spanish El Romeral asset to grow PXEN eg. Solar / blue hydrogen. Solar project to increase output by up to 60%.
🔸All fully funded from cash flow of El Romeral and Selva - no short / medium term raises!
🔹Broker note 18p- based on 1 Selva field & El Romeral @30% production. Rest not priced in.
*Based on TTF at 30
Future growth options:
1) Further organic development of assets
2) Further acquisitions
2) Prospex becoming a ripe takeover target
So the Bag Of Nails PXEN continues to impress ........sorry depress.
One would have more confidence from a mystical dragon,unicorn, mermaid or even God posting than seeing delusional expert opinions on here..
Broker note 18p,only Italy priced in as Spain valued at 1p. Drill permits to land anytime. Gas prices starting to rise again. Cash in the bank, no debt no outstanding warrants or clns. Rerate will happen very soon gla and dyor Pashman
Yes I agree the good outweighs the bad,.
I agree with these comments stiffy but feel the potential here outweighs the risks by far. That’s why I’m waiting for the amazing updates I’m sure our well paid director will need to muster up. It’s too good a gamble not to be loaded up with couple 100k shares at least imho of course. Tide will turn eventually.
Stiffy I am coming to this conclusion as well. The resource and assets are great but the costs are way over the top. I think it's likely there will be dilution as well. The directors are just taking the cream off the top and doing sweet FA. They don't even bother doing any PR. MR does interviews from his home office between rounds of golf.
i sland girl - i dont know what they are chanting in the telegram group, but admin costs for the year at £1.3m is a lot of money for what is an investment company. the new director getting 23k might not be much but its hard to see what he is doing likewise, if its treadwater waiting for permits and the operator does the work there is not a lot for the prospex directors to do. £460k in wages is a lot to trash away, then there is cost of aim which will be £500k. wages need to be trimmed if just waiting. my fear is that they will buy something and there will be a fundraise at this rat**** price, and then a big dilution. that would show what the board really think of the shareholders. the market has obviously digested the results as slightly boring.
Frozen
Looks like the perma bulls are back in their box
So you 'tip' Prospex at 5.5p. it rises to 6.25p and falls back a week later to 5.8p and you want to be the new Messiah.
At some stage it will have another little run up to 6.25p. YOU HEARD IT FIRST FROM STIFFYBRISTOL
Haha. You are a strange man Johnny Swazers. Get a few more of these predictions correct and you might manage to cover some of your losses over at PHE my friend.
Maybe that’s conclusive enough for you
Eh !! I asked a polite question, it’s dropped today has it not.
@Jrlomax Drop? Let's see how it closes huh? Before we start jumping to conclusions.
@oilboy2001 WTF are you going on about it's nothing to do with self congrats. It is my business for which I earn my living. I make stock market predictions. I have a system of T.A. Instead of being a coward & trolling others why don't you work on yourself? I know this must seem like an alien concept. I have promoted #PXEN to my followers online & got a lot of eyeballs on this firm. What have you done except act like a total loser?
Well done for predicting the move on your chart Swazers. However, the truth is you go looking for trouble with posts like this. If self gratification on LSE BBs does it for you then fair enough.
What are your targets after todays drop Swazer?
@Stiffybristol My #PXEN chart was a cracking winner, not only did I call the reversal correctly, the SP hit my target which was reached on my chart on the 8th of May, so please do me a favour & STFU! I know it is hard when things like FACTS get in the way https://www.tradingview.com/x/NjWeLuqO/ Just to make it easy. I called it on March 7th and it hit my target on May 8th it's a winner https://x.com/SwazersC/status/1787869961219670235 Brilliant T.A. even though I say so myself.
@Stiffybristol My #PXEN chart was a cracking winner, not only did I call the reversal correctly, the SP hit my target which was reached on my chart on the 8th of April, so please do me a favour & STFU! I know it is hard when things like FACTS get in the way https://www.tradingview.com/x/NjWeLuqO/ Just to make it easy. I called it on March 7th and it hit my target on May 8th its a winner https://x.com/SwazersC/status/1787869961219670235 Brilliant T.A. even though I say so myself.
I am old, fat and eat a lot of dinners so you probably have that wrong.
Prospex share price will rise when it gets the permissions for more wells, that enables it to earn more money. That NEWS could come any day hence the value of a chart is zero. If you follow a share and know its real value you now when its at its cheapest.
@Stiffybristol I deliver more winners than you had hot dinners you noob. I have a winning track record over years. What you have ? 90 posts on here? LOL