Prospex Eng Share Price (PXEN)

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