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Just better get a move on before it goes completely to the wall.
I totally agree with you.
Would expect a new CEO will bolster the confidence here. This has to be announced soon hopefully. Maybe Jan 6th ??
Why is it a drill ready prospect? It’s not.
LOGP has little cash and certainly not enough for 20% of costs for maybe a couple of drills.
What happens if PVR do manage to attract an investor? This may not include LOGP.
I don’t know who LOGP’s major funders are and how deep their pockets or risk acceptance is.
........has gone.
So it looks as if they’ve only surveyed two locations.
Whatever happens Now i just can’t see how they can start drilling this year.
It’s a disaster all brought about by pitiful management. Why in the Lord’s name didn’t they have an escrow account written into the contract to draw from and have it in place before or when the agreement was struck?? Oh!!! Hang on. Is there a contract or just a framework agreement?
Now is the best time to just bin the deal as it’s very one-sided anyway.
This is desperation.
I honestly believe O’Reilly hasn’t a clue what to do.
They need a leader who brings excellent oil and gas management experience and drive into the company.
No one there at present (if there’s anyone left) seems to have a proper plan. If you revisit the Chinese deal, critically, it’s also clear that it’s not a good one.
Need to get away from these people and get back to basics.
It’s 07:10 and nothing.
Probably the most important day in their life money-wise. I’d have thought an RNS would be flying out the door at 07:00.
Surely there will be a major move by the bigger shareholders???!!!
Nothing more, nothing less.
How he’s still CEO is beyond me.
Whoops !! ‘having’. !!
What’s the best site to see this on without hanging a subscription ??
Just can’t believe zilch this morning.
So far !!!!
Off you go then.......... buy, buy, buy.
This is nothing short of an embarrassing episode of total incompetence through what looks like PVR not having a cast iron process in place, through the agreement and contract phase with APEC, and others who are funding this.
Come to think of it I’ve never seen any mention of a contract agreed by PVR for the appraisal and development work funder - APEC. Does one exist - I dunno !!
No cash and no sign-off as yet. But .....Another fundamental question. If PVR had cash and agreement where’s the survey vessel? Various discussions on here about this but is there a contract in place. If not how long will that take to organise??
My next concern is the funders coming back and modifying the agreement in their favour. If there is no contract (a guess in my part) then this could happen.
I’m not a believer in selling. In fact I think that one would only sell if under extreme duress. I can see this doing 8 to 10p once the BS is over.
I’d reset any ‘sell order’ to 6p if it were me but i ain't selling a single share.
All the best.
Why doesn’t everyone stop reprinting these quotes and going on and on about how they read them. It’s nauseating and boring.
It would be more pertinent to consider how in God’s name a supposed ‘oil and Gas company’ could mishandle a simple transfer of cash. Anyone would think it hadn’t been done before !! Why didn’t PVR know that transfers would be driven by the sorry bureaucratic balls that exists today and would have asked what timing was expected for transfers.
If this does eventually go through how on earth will they be prepared for the $xxx millions to come. Surely APEC and JLT (or whatever they’re called) would have prepared the way forward and because they didn’t I wonder if they actually exist.
Surely when the deal was done there would have been a discussion ref this. However with PVR anything’s possible or more likely impossible.
It’s so amateur it beggars belief that this lot will be able to deliver a complex multi well development programme.
Sorry Jarv. Where I was coming from was not the ‘space’ on the chat area but the needless repetition, by copy / paste, of what we can all read on an RNS or whatever else is published. It’s pointless repeating it.
So apologies for being too direct and here’s hoping tomorrow brings a few $ to the kitty. I’d also like to know why there’s a hold up with the site survey consent.