Member Info for biglad0001

TIDMPXOG RNS Number : 5241S Prospex Oil and Gas PLC 12 March 2019 Prospex Oil and Gas Plc / Index: AIM / Epic: PXOG / Sector: Oil and Gas 12 March 2019 Prospex Oil and Gas Plc ('Prospex' or the 'Company') Placing to Raise GBP800,000 and Appointment of Joint Broker Prospex Oil and Gas Plc, the AIM quoted investment company, is pleased to announce that it has raised GBP800,000 gross via an oversubscribed placing of 400,000,000 new ordinary shares of GBP0.001 each in the Company ("Ordinary Shares") (the "Placing Shares") at a price of 0.2 pence per Placing Share (the "Placing Price") (the "Placing"). The Placing was undertaken with new and existing investors. The net proceeds of the Placing will help fund the Company's share of the 2019 work programme at the Suceava Concession ('Suceava') in North East Romania. Following the Enlargement of Suceava, as announced separately today, the partners plan to drill the Bainet West prospect ('Bainet West') subject to customary permitting. Bainet West is a lookalike prospect to the Bainet discovery which was successfully drilled in 2017 and is currently on production. Bainet West is well defined on seismic with similar seismic attributes to the Bainet gas field, lying at a comparable depth and is similarly positioned in relation to a fault. If a future discovery was made at Bainet West it would be likely put on production in a congruent fashion to Bainet. Assuming corresponding gross costs of EUR800,000 (EUR400,000 net to Prospex) to complete Bainet-1 as a production well, the funds raised today will more than cover Prospex's share of costs. Prospex's wholly-owned subsidiary PXOG Massey Limited holds a 50% non-operated interest in the now enlarged 984 sq km concession. Bainet West is one of several low cost / low risk exploration and development opportunities that have been identified at Suceava. Prospex Non-executive Chairman, Bill Smith, said, "We are pleased to have raised these funds for new drilling activity in Romania and thank all existing stakeholders and new investors for their support. Having participated in two successful wells in Romania and Italy in the last 18 months, we are keen to participate in drilling activity again and Bainet West represents an excellent opportunity for the partners to do just that. Based on our experience with the Bainet field - with a less than a year cycle between drilling and production start-up and, subject to a successful outcome, Bainet West has the potential to be brought into production within a similar timeframe. This is fast by industry standards and demonstrates the value of the Suceava Concession, where the presence of multiple copycat structures offers a low risk opportunity to build a cash generative project for relatively low capital outlay. "Together with our interest in the Podere Gallina licence located onshore Italy, where first production at the 13.3bcf Selva gas field

TIDMPXOG RNS Number : 5236S Prospex Oil and Gas PLC 12 March 2019 Prospex Oil and Gas Plc / Index: AIM / Epic: PXOG / Sector: Oil and Gas 12 March 2019 Prospex Oil and Gas Plc ('Prospex' or the 'Company') Concession Enlargement and Production Update New Gas Prospect Added to Portfolio Following Enlargement of Suceava Concession, Romania & Bainet-1 Production Update Prospex Oil and Gas Plc, the AIM quoted investment company, is pleased to announce that it has been advised by the operator, Raffles Energy S.R.L. ('Raffles'), that the National Agency for Mineral Resources ('NAMR') has granted an enlargement ('Additional Area') of the Exploration Area of the EIV-1 Suceava Concession (the 'Concession' or 'Suceava Exploration'), North East Romania. The Additional Area awarded covers a new gas prospect that is similar to the Bainet discovery which Raffles and Prospex successfully drilled in November 2017 and started production in September 2018. Prospex's wholly-owned subsidiary PXOG Massey Limited holds a 50% non-operated interest in the now enlarged 984 sq km Concession. The Additional Area is located near the Bainet discovery and extends the Concession west towards the Bilca Gas Processing plant. Importantly, the Additional Area contains a gas prospect which is well defined on 2D seismic with similar seismic attributes to the Bainet field. This Bainet look-a-like prospect lies at a similar depth and is similarly positioned in relation to a fault. Bainet-1 was drilled to a total depth of 600m and encountered 9m of reservoir with 8m of net gas pay consisting of a good quality Sarmatian sandstone reservoir, similar to that found in fields producing in and around the Concession. During testing, natural gas containing over 99% methane flowed at a rate of approximately 33,000 cubic metres/day through an 8mm choke. The Bainet-1 well has been connected to the Raffles operated Bilca gas processing plant via a 2.2km flowline tie back to the existing production infrastructure. After a six-month period of production, Bainet's reservoir is currently performing in line with expectations. Moving forward the Joint Venture is assuming an average production rate of 15,000 m3 per day for 2019 budgeting purposes. If a future discovery was made in the Additional Area, it would be likely put on production in a similar fashion to Bainet. Prospex has agreed to reimburse Raffles a 50% share of the back costs incurred maturing the prospect, in amount of EUR125,000 net to Prospex and payable from production, after a well is drilled in the Additional Area. A new exploration well would require permitting approvals for drilling, site preparation and civil engineering works and flowline connection to the gas processing facility, the operator has commenced work on putting the required permits in place. Prospex's Non-Executive Chairman, Bill Smith, said, "With the addition of a look-a-like Bainet structure, the enlargement of the

RMP has shot its fat... too late I m sure the rig is secured and will be onsite soon. West Newton Wressle appeal Back to Biscathorpe to sidetrack.... we know it’s there And I wouldn’t be surprised if DB with Humber aren’t eyeing up other prospects

Fairview

Whilst I agree it would be good to know the timescales in relation to the rig I think this being kept quiet due to the security situation at West Newton.

I don't think it would be wise to indicate the day it will arrive for obvious reasons.

West Newton is worth £41m to UJO Which is 5 x current market cap. 0.5 per share Then there’s wressle and also back to Biscathorpe for the sidetrack

But if SOU was going to sell the acreage including the GSA to a major, surely this would be welcomed by the morrocans

Then SOU would have to sell the concession to newco to sell on

0.11 ask needs a bit of volume now. Some nice buys earlier

Been in since the Brickytoon billion dollar upside days. Class myself as a number 1. Had 500k sold 150k at 80p and paid mortgage off. Still holding 350K

No big delayed trades showing yet

14% up

Erm jolly good

Hopefully it’s a 30m sell and the last of a certain ‘oil expert’ This company doesn’t need the circus that follows. The assets will speak for themselves

Biscathorpe isn't a total failure. See below. The could well be an effective petroleum system to be accessed.

"As conveyed in the operator's narrative, the Biscathorpe-2 well has been suspended for a possible side-track at a later date once the results of the well have been incorporated into the prospect model.
"The Biscathorpe play has not been properly tested as the Basal Westphalian Sandstone did not thicken as expected in the pre-drill model hence the Biscathorpe-2 well is being suspended for possible future re-entry and side-track. In addition, we were encouraged by the elevated gas readings over a 99 metre interval which included a suite of gas indications C1 to C5 and nC5 which are indicative of an effective petroleum system existing in proximity to the Biscathorpe-2 well.

Whilst I totally agree fairview, the issue surrounding who when and how the TR1 should ve been submitted, could well be the least of CO’s problems if the FCA get involved

Surprise surprise TR1 from you know who. Holding less that 3% now

Decent holding you re building. Good luck

Plenty of scope for a rise too...…….

Not been one for a while. Thought there was more on the horizon. #justsayin

It’s an un crossed trade could’ve been at 1p makes no difference. 3.5m buy on nexexchange close to full ask is good though