The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Some of the questions such as royalties/tax can be answered here https://youtu.be/TgS2huAm0Fs
Tax is 10% and royalties 5-15%, the bit about logistics is there too I think
PM was always able to secure rigs in the past, the things that make it more risky now are:
1. PetroChina's backlog of work from past year due to covid
2. higher price of oil - possibly more activity by PetroChina + higher rig costs? (in one interview of Kistos I heard that ironically the costs of equipment are still the same, so not sure)
3. most of the rigs and crew are owned by PetroChina so perhaps they could use that as a leverage on farm in talks (on the other hand we are a tiny player for them, hardly worth some shenanigans)
I'm confident that we will get our rig in the next few weeks, but it is definitely a risk, no question about it.
Well it’s a classic garbage talk as we wait for next news and the sentiment is low, wan*ers like Hamm and Superroty are everywhere, I’m sure they would both do much better job than MB, especially operating in country such as Mongolia
hmm well I don't see the point either to do the same interview 3 times but okay I guess it's their idea to keep the investors "updated" regularly.... with the rigs it is obvious risk but it's still quite suspicious to hear him say it all of a sudden :D fingers crossed we get some positive update soon.... renewable energy is the trend these days it seems like, but I hope we won't spend any bucks on that until block XX is making some decent cash
Hm I personally have enough of all the wildcats (not sure if I have seen at least one work out during my 5 years+ on AIM) I actually hope they will develop block XX fully before Velociraptor etc… good time to get some $$ in with Brent on 80+
The Company is also tendering for the acquisition of a 3D seismic survey to complete the 3D coverage across the entire Exploitation Area. The c.200km2 survey may be recorded this winter or next, depending on crew availability, ongoing cross border Covid-19 restrictions and pricing. The locations chosen for drilling in 2022 are within the footprint of the existing high quality 3D seismic over the northern portion of the Exploitation Area, so the exact timing on the new 3D survey is not critical.
I hope they decide to go for it this winter, could be another catalyst before the drill bit starts
decent volume today, hopefully we will start to move to some sensible levels.... placing price of 3.5p would be a good start. It's true that drill won't start for another 6 months but we are ridiculously undervalued... also have a look at JOG it went from £1 to £1.85 on nothing, RKH going up too in recent days.... I also remember 88E few years ago when it risen like 70% in October (they were drilling in April following year too) so anything can happen really... for me 5p this year would be fair value
yep hopefully the bottom is in and people waiting on the sidelines will join in soon.... the real fun will begin near the placing price of 3.5p though, since there is a big gap between 3.7-5p that will attract a lot of traders and will get filled quick imo.....I would also expect some operational update end of Oct/Nov with news on rigs and Petrochina
what he meant was that we have 194mil resource with about 33-60 MMbo recoverable, which is not bad at all for onshore resource (very cheap drills vs offshore) and a company with 24mil mcap and 10.5$ mil cash with brent on 83$ market will catch up eventually
You have been here long enough Manro I reckon, why haven’t you sold some few months ago when it was almost 8p with no programme and no funds? It was obvious there will be a placing, although not so low, that’s true… maybe you wouldn’t be so bitter then :D gl in PTAL though, maybe you will put some of the profits back here next year
well interesting price movement, looks like the mms dropped it right in the morning and I still don't see any big sells, maybe they will pop up few days later.... otherwise I'm curious myself where the bottom is and I wonder who the hell keeps selling at these prices :D