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Master, in what jurisdiction do you suggest that PM sue the MG??

Just broke the 60p barrier.!

I'd say your calculation is a bit out of kilter!!!!

Masa Valverde, Ossa Moreno, Rio Tinto East.

Good post Asher.

Because that comment was made before LP was granted!!!

BP. My calculation is simple and conservative. 1 Well should produce at least 500bbl per day. at 70$ per bbl, Do the maths yourself.

Everyone seems to forget that once the first Heron well is pumping oil, we will be getting at least 1m USD per month in revenue. That amount should double for each additional well. Who needs loans or share issues anyway?

Nathan, if you are that negative about the prospects of PM, then sell up and get out is my advice.

GB!, there's being cautious and there's being a prophet of doom!!

Why any talk about dilution. Once first Heron well is producing it should bring in at least $1m per month in revenue.

Looks like OK result for long term investors, hell for 10% traders with stop losses.

Glad I'm not one of the latter this morning.

Mmafr, unlikely that news of V1 drill is leaked early, unless drilling is several days ahead of schedule. I believe that they have to drill through very hard granite to reach oil reservoir, so won't know until they reach 1500 metres.

WOS, good points. Please note that JULY 2024 is when the exploration license for the V1/V2 drills expires. If they happen to be dusters, which I sincerelyhope they won't be, then the company will have to rely on income from the Heron field to fund further development.

I'm sure our CEO is fully aware of this.

CJ,

I too am frustrated for the same reasons that you state in your first paragraph. As for a potential cpital raise, i can't seee this happening in the near term, because i think the company believe they will survive on income from the Heron field,

I hope that they are correct. all imho.

Doc, i haven't got time to have a typing contest on this BB. No one else is interested in our dialogue.

Yes, but it's not worth my effort answering it.

Todays bought and sold figures say that your thesis is wrong.

The amount bought and sold today is almost exactly the same, so no reason in your comment doc.

It's 5.15