The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
I thought that was a great post Johnnie. I used to be a fan of EOG and had shares in the days of Paul B - if people remember him. I sold them at a small profit and then Paul B left. Worst thing that happened to them and never been back in. Nothing has happened since of much note and shifting about in minor production plays in England which will add small fry bbl/day won’t cut it even if they can resolve the planning farce. Does anyone believe they’ll get Ireland sorted. Not me.
You’ve hit it in one as I said on LOGP chat. The key is the contract and it’s all very quiet.
I think a re-read of the announcement would be a good idea. There is a FOA with APEC. However there is nothing on the APEC site to verify this or blow their own trumpet. Where (as you say) have the Chinese, presumably APEC, verified the arrangements in writing. I’m sorry if I missed this but I can’t find it. Also has the cash been paid to PVR and probably LOGP for previous expenses etc and if not how will LOGP keep going until Q3. More dilution ??? With statements such as IPM still being negotiated I bet they, APEC, are pushing a really hard bargain. However PVR and logp don’t have much if any wriggle room. They’ve already given 50% away and any return is years away with loans to be repaid from production. I’m now beginning to realise why the SP is so low.
Hope you’re correct. I know the legal challenge was against the application for the site survey but I just worry in case there are others waiting in the wings to frustrate other legislative requirements and consents. If there are and these delay a little at a time then our Chinese friends could become fed up with it. Time will tell but more info from PVR and logp would be nice.
Happy New Year All !!! Must admit I’m getting very pessimistic about this ever happening. I’ve just re-read the end of year epistle from PVR and it actually adds nothing and says nothing that could be construed as good news. Particularly worrying is the follow on contract between the Chinese and PVR / Exola / LOGP. Ok there’s a FOA but nothing yet in place to determine how it’s done and in a couple of places in the announcement they discuss things being subject to finalisation of contract and ‘upon successful negotiations’ etc. The Chinese can be very difficult and if they don’t get their way could walk. Also the knock on effect of the legal challenge plus possible future action could change their mindset - too much hassle and too weak a government etc. Then there’s the dead LOGP and PVR share trading situation. All very weird for such a no brainier project. All Providence can say is that announcements will be made when appropriate. Don’t know how long I can wait.
In the December ‘17 accounts the auditors raise the fact that there’s doubt over Tower being a ‘going concern’. That’s for the top level plc. I use ‘top level’ somewhat loosely. Also many of the group of companies are N/R and another is facing dissolution. How on earth will they pay for the well?? How do they survive? A very strange outfit.
I had two big buys today - the one you’ve commented on plus one other 2 minutes later. The second has still not shown up. Anyone know the rules here as I wonder how many others don’t get published. Agree. Share price is nuts. Couldn’t resist it!!!!
Where do these people get this load of horse from and does anyone believe them? I certainly don’t. Let’s cut all the rubbish away from this. The crunch will come when the next well (I think it was known as the ‘y’ well, updip etc) spuds and gives an insight into whether or not there’s a ‘field’. God help everyone if it’s a marginal well or worse. Everyone will walk. Until then the SP of PVR and LOGP will jump about but all this hype is just pure junk. If it was factual there wouldn’t be a share in either company to buy. My opinion??!! Anyone who sells PVR or LOGP has at this time is mad !!
I don’t. I buy from potential for share price to increase as following MC does not provide an easily reckoning of your personal value in the shares. If your idea was the way then day to day trading would be in MC and not SP and very messy. For some companies such as Shell you wouldn’t even have the space in the box to give their MC.
I find it rather bizarre that he posts this on LinkedIn. His reply (which I’m also amazed at) to the question talks about consents and approvals only not signing the final agreement with the Chinese guys. This has already been done if you read between the lines of various outpourings. The consents and approvals are the government environmental etc ones which are required - have a look at their dept of energy website. It’s details requirements and you can track to a certain extent. It’s a slowish process. It’s a complete no-brainier and I’ve been topping up over time in a big way. May continue but close to max before owning up!!
and me ............
What's bizarre to me is that you can still buy shares. In this situation who'd be mad enough to sell??
My fear is that it'll be sold once it's at about 5p and we'll all get screwed. Well sort of. I'm at 1.29 average so 5p is 3.71p gain which, if you have 1m shares is £37,100 Not bad if you can sell them.