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Only one way this business will go longer term great job turning this around. Balance sheet growing all the time profit every day and more to come with future assets. What’s not to like?
Not before time.Lets see if it sticks or the traders sell it down again
Blue
Island girl - I made no such presumption prior to your post. In addition we know that the 2nd (of 3) tranche of 5.5p CLNs are due end of December (either coupon interest or conversion) so it stands to reason we will be informed of the outcome one way or the other (similar to the September 5.5p CLNS on the 26/09).
Regarding other news I would suggest just being patient - PXEN are not the Operator nor do they grant licences or permits that is up to Spain/Italy and the Operator to conduct this.
Given that permitting and/or drilling schedules are not in his gift, what do you suggest he should be doing that he's not already? I'm not happy with the lack of news as it constrains the SP, but the bottom line is we are making money and are accumulating nicely. Good position to be in if worthwhile opportunities arise.
No
Permits no drilling no deals no news what do they do all day that CEO is a shister . 250k a year doing FA
I was alluding to your presumption of news before the end of December
Your brow for starters
Also there is nothing 'expiring' - what do you think is expiring?
? What do you mean?
September 5.5p CLNs were converted and we were informed on the 26/09 so what makes you think we will be informed before Christmas? I would think we would be informed just before new year - and what have the Italians 'hanging their boots up for Christmas' got to do with investors converting/taking coupon?
With expiry date end of December we're fast running out of time and the Italian hang up their boots early for Christmas
I suspect they will be - we might be sitting at 5.3/5.8p at the moment but as soon as any sniff of Spanish or Italian permits news arrives we won't be. People don't lend money to a company for a quick buck, they do it for the longer term pay off. Of course that can be reevaluated at any time.
I guess if they dont then do they get the cash + 15%, or can they choose to take the 15% coupon and reevaluate in 12months time (or any quarter with a pro rata'd coupon)?
Will they be converted?
O dear .
.
The Loan Notes are convertible into new Ordinary Shares at a price of 5.5p per ordinary share, the closing price on Friday 2 September 2022, at any time at the election of the investor. Existing share authorities are sufficient to satisfy any potential conversion of the maximum approved Loan Notes authority (of £500,000) loan plus any accrued interest.
· Interest at 15% is payable quarterly compounded monthly, with the first interest payment on 30 September 2022 to be capitalised and added to the loan principal rather than paid in cash.
· Loan principal to be paid in three tranches (end of September 2023, end December 2023 and end March 2024). These repayment terms mirror those of the £1.87 million convertible loan notes issued in July 2022.
· This debt/equity hybrid financing allows the Company to fund the all the development costs to first gas at the Selva field, which is targeted by Q2 2023.
Yeah. I can read:
https://www.londonstockexchange.com/news-article/PXEN/conversion-of-loan-note-debt-and-tvr/16139112
The abovementioned convertible loan notes were issued in September 2022 to three individuals and are convertible at 5.5p per share pursuant to a Convertible Loan Note Deed dated 2 September 2022. The first of three capital repayments plus accrued interest was due to be paid on 30 September 2023 and the three Convertible Loan Note holders have agreed to settle this debt by converting it into shares at the conversion price of 5.5p per share.
5.5p numpty.
Go and read the RNS’s it’s all their it even saying in the RNS December CLN due at 5.25p
There aren't any 5.25p CLNs numpty. at I doubt much profit is being made at the 5.5p the CLNs were issued if selling below 5.5p, or just above. They may as well have not converted them and just taken the 12% coupon. Eejit.
Tell sellers on Friday lol . Their back must be the ClN at 5.25p well at least it’s the last . They will sell all for Christmas need moneyb
Https://youtu.be/s_Y9lPNyApY?list=PL2Cmx7fuvrM0H1Eoc9UNikKjF8KWW5a-A
A lot of energy being expended here to try and drop this share from its current range. FWIW my thoughts below;
Director doesnt do much - So? He has put this company in the position for that to be the case - if he does toomany deals we have cash or dilution issue - an irrelevance to my prospects of gaining a return on my investment.
Going to drop - i am not clear on thisat all - cash positive means doing nothing increases our reserves and this gives more future expansion options.
So my guess is that we will most likely see a rising price from here as next news likely to be positive.
Just gone through the RNS s to be honest the reason for no sells is because the last lot of CLN are 5.25p each . From 2021 till now they have given out over with warrsnts over 100 million shares unbelievable it’s a gravy train for the few . Total scandal that’s why it’s at 5p . They have milked it over past few years . Get it over 100 million more or less free shares been given out to. Directors and three investors you have old Directors as well full of free option or CLN shares .
The Pompous idiot has not done a deal in over a year we’re are the deals he is living off the 33% of PO Valley . Done nothing since i would be interested in what he does all day . Well for the last 6 months as no new permits no new licenses absolutely nothing so each month he gets the small amount of cash from the one deal he pockets 20k of it. Nice when you can get it,
MR has taken the company to trading at a profit. Balance sheet now growing especially with gas above €40. DYOR
Silence is golden golden Mark the 250k A year CEO playing Golf
Cry me a river, Shorteverything. Clue is in your name as to what your agenda is.