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"The permit process is hopefully going to be completed by at least the year end, if not a bit before"
09:00 onwards
https://audioboom.com/posts/8478910-midweek-takeaway-with-mark-routh-ceo-of-prospex-energy-aim-pxen-pxen
Aye surely that is the end game of all companies.Debt free and generating profit with increased revenues within sight.
Andin the meantime we now have zero debt, and decent profits building up the balance sheet.
It is nice to have at least one company in my portfolio that is making waaay more cash than it spends!!
GLA
The permits are in the hands of the Italians and no one else.They could easily drop any day as much as any week now
MR definitely said the Selva drills will be underway in Q4
Allegedly CA is going to publish his article in May so I conclude that this will be the start of the rerate with the news to follow. Also KB has hinted at this.
It's a guess - it was just 3 weeks ago Oilboy said May so no idea. I think the End Q2 is the upper limit as per the most recent presentation - but drilling also overlaps that period if I recall correctly. Basically anytime between now and then
How do you know that?
Yes but it's going to be end of Q2
Thing is theres no way of telling when the permit news will drop.It could take weeks or it could as easily drop tomorrow.Did MR not say Q1 in one of his interviews?
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.
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