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....how long it will take to make a decision over Paraguay. The RNS used the term "Suspended" which means that they are deciding whether to continue or abandon.
Whatever the decision is, I think it would make sense to reach it sooner rather than later, and waste as little time & resource as possible
What an incredible amount of Blue! The SP is ridiculously low right now, and it'll have to multi-bag many times over for LTH to break even, but all these Buys. Maybe they mean something, I really really do hope so.....
GLA............
Confirmation RNS saying it had successfully Spudded on 11th January, with approximately 45 days from then until it reaches the target depth. 45 days would be Sunday 25th.
Hopefully an RNS next Monday morning confirming it's all green and all engines go.....
1) Paraguay has spudded! 45 days before possible results. 2) Money coming in from Argentina. 3) Green House IPO approved.
Three pieces of really positive news. And no impact on the SP. Jeez this is an unloved share. I guess 1) and 3) are still jam tomorrow good news stories though. 17% chance in Paraguay. To paraphrase 'The Killers', are we investors, or are we chancers.....
In the New Year. Very unsurprising announcement. Wouldn't make sense to start work the week before Christmas and then have to pause it.
2024, the year Men goes back to work in Paraguay. Results probably beginning of March? Maybe this time it'll come good.......
Great news for President's Argentine business, that MEN sold to Peter Levine a month or so ago! Good news that the debt can be repaid. This is good news for MEN and the SP.
The cynic in me thinks that this has much the bigger impact for the Argentine Ops that Peter Levine has taken private which makes that deal a little bit worse for us shareholders.
Still, it is good news, so mustn't grumble too much....
Thanks AllinEol- I'd missed that. Think the original date was July, so hey ho, what's another week or two. If drilling normally takes 6-8 weeks before results, then maybe these delays are all a cunning plan by Molecular Energy to give us news of a gusher in December as a big Christmas present.
RNS on 31st August- "Commencement of drilling is now scheduled to take place at some stage in the second half of September."
RNS on 21st Sept, "The high impact exploration well is now expected to spud at or around the end this month or the first week of October."
No news since.
Pics of the mast being raised on twitter yesterday
https://twitter.com/MolecularEn/status/1702318747934142467
PL took Louisiana, and now he's getting Argentina. Leaves MEN with Paraguay and their new energy investments in Atome, Green House etc.
This is probably a very good move for Men. Hopefully the SP can go up and up from here. But yet, somehow I feel confused or at least misguided about Argentina, there is huge potential there, but I guess we say it didn't work out and move on.... Hmmm.....
Can't be delayed much more now, except how much is drilling for oil & gas like tennis and cricket, in as much as can rain stop play? I ask because the rainy season in Paraguay is in Oct & Nov, so if those months are a washout like a test match at Old Trafford then even if a victory looks within grasp it could get washed away. ......
Indeed.... Here's the FT's take on Argentina’s “Milei-Quake”, it says Aftershocks are coming....
https://www.ft.com/content/f4f46aaa-b777-409d-8766-d1cf8962d73d