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I topped up on friday and will keep doing so as funds be come available
Reserved based lending is also being looked at using our assets of 6.3 mill to get a loan, as our mc 1.5 mill does not relate to assets at all, undervalued
One of these substantially de-risked projects is the Podere Gallina Exploration Permit in Italy. Here we have reported (post period end) maiden gas 2P reserves of 2.26Bcf net to Prospex's 17% interest, as contingent resources previously assigned to the Selva gas field were reclassified as reserves following the successful testing of the Podere Maiar well ('PM-1') in January 2018. This represents the first time that reserves have been assigned to one of our projects by an independent third party, in this case via a Competent Person's Report produced by geophysical services consultancy, CGG Services (UK) Limited ('CGG'). Being assigned first reserves is a major milestone. Not only does it provide Prospex with significant asset backing, particularly when compared to our current market valuation, it also opens up new channels of non-dilutive funding, such as reserves-based lending. Additionally, production from these reserves will lead to a step up in our internally generated revenues which in turn will provide another source of funding for investment in late stage onshore European opportunities both inside and outside our existing portfolio.
Almost looks like it could be worth a small punt again. While i do not expect to see my previous buy in price it could have potential for a quick trade IF they can sort some news
They should have a MMs and troll parties more often, certainly enjoyed the lower sp and jackanory de-ramp stories lol.
The Directors estimate that the cash held by the Company together with known receivables will be sufficient to support the current level of activities into the second quarter of 2020. The Directors are continuing to explore sources of finance available to the Company and based upon initial discussions with a number of existing and potential investors they have a reasonable expectation that they will be able to secure sufficient cash inflows for the Company to continue its activities for not less than 12 months from the date of approval of these financial statements
Cash was 330k in interims, and ongoing revenue from Romania 60k monthly?
Gla
It has been a while since the last placing so it would come as no surprise if another was to land very soon
Anyone have any details as to cash position at the moment? I imagine if it does happen it would be at a hefty discount to be able to sell (forward sell)
Hopefully we'll get an update soon
Good god I don't believe I just posted that.
. 05... Would cover the rest of the Spain 49%. Think it's 1.7mil euros. Think permission was given for up to a 93% dilution. Considering what could be achieved it might be worth it. And painful. But all RUMOR!
Watch the spread figures....
Sounds like something is going to happen.....could be positive if MMs are after shares......
300 trade on nex
MMS games, signal bring the sp down I need shares.
I don't spread information I don't 100 percent k ow is true so I'd rather just keep what I know to myself , hope it's false to be honest , as I wish you all the best whoever is left in here , x