RE: Babbler-PSL18 Jan 2019 10:20
saw an old one of mine on the risers list and decided to refresh myself on recent news (PXOG):
0.6p loan notes issued in October. Price now 0.28 to buy.
"The market may not have fully recognised the significance to the Company of first gas production in Romania and ongoing work to advance the Selva gas field in Italy towards development, but the Subscribers to the Loan Notes have done. Not only is Prospex generating revenues for the first time, but the presence of copycat prospects at Suceava and large structures at Podere Gallina offer multiple low cost, low risk opportunities to rapidly scale up production and revenues. To fully monetise the potential of these two assets as well as the Tesorillo project in Spain, which we believe could hold up to 2TCF (gross) of unrisked prospective resources, development capital will be required. With this in mind, it is highly encouraging that first production in Romania has opened up non-equity funding options to the Company.