Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
by their standards 2 weeks is a long hiatus from twitter. As much as we want to know on oil and gas prices being paid domestically they aren't going to RNS without something else to say. Waiting for that reserves and update following full year end. Think they will merge into a fuller RNS may be picking up ops update. I think next update on Paraguay will be Feb earliest. Anyway let it run up a bit more from here before hopefully a good update by end of month
2p on the offer now. Not seen that for a while.
Had passed me by as well. Is that from the RNS? Oil price now higher so a greater incentive for the NOC. I did notice that on the President web site it says in discussions with a NOC then says third party. I hadn't picked up on the third party bit elsewhere
that would be a massive head turner for the market. Would be surprised. I always thought it would be either Patropar or Petrobras although they don't seem keen on Paraguay at present
what is L2 looking like? Who is on bid and offer? Where are our old friends JBER?
What is L2 looking like now? Where are our friends JBER?
I just over 1/5 of that 80% of which added since Nov. You just don't want MMs pulling back to normal market size if you're trying to get out.
I bet 2p is paid today
Looking very strong now. Started buying again since PL made his fireside chat on IFC and Berenberg. So pleased I did. Not selling a single share below 3p.
Angostura Bitters? Do you think Compañia General De Combustibles S.A is a holder or seller of its subscription shares? Don't recall there being a lock in condition. If they have retained then must be a sizeable shareholder now. They must be sat on a loss
50% for a two well cost would be more than acceptable to me. The $150m spent is not coming back any other way. Assistance in lieu of further investment on PPC's part with the potential of proving Paraguay is all win for PPC - obviously strike the best deal they can but if the deal is$10m or $20m investment for 50% then where do we sign. Remember the entire Mcap is only £32 - £36m
When looking at where the price is now, it is helpful to look back to pre PF/EV - Summer 2017 prior to group production was at best 1000 - 1100 bopd.
The PF/EV deal was announced on 21 Sep 2017. The day before the shares closed at 7.2p giving a market cap of £74m. At today's price the and allowing for the issue of new shares the MCap is £36m so down a tad more than half since then.
Yes this is a long time ago but prior to PV/EV deal there wasn't much to write home about and being generous group production was about 1100 boepd, oil price was not too far from where it is today - not sure about gas. Producing assets in US and Salta which was far from plain sailing. Obviously it still had its legacy assets such as Paraguay but there was little hope of anything speedy happening there. Yes we can rage about dilution but Mcap accounts for this and as you can see, the company is unrecognisable from pre PF/EV and yet it's value has halved.
A valuation is a difficult business but very broad brush and based on what we know now I cannot see why this shouldn't be valued at £72m rather than £36m
It does feel like the battle of buyers vs sellers is at a turning point. JBER have been in control of this price throughout the back end of 2020. If that changes then it could run higher without news
Would not be surprised if this 2p or over on the offer tomorrow. Would not be surprised if the lion's share of the Berenberg rump has now gone. If there is other positive news early 21 on reserves, Paraguay and operational update then it will take some holding back IMO. Resolved not to sell a share below 3p
IFC rump now cleared from their book?? That would be a fantastic out to 2020 for PPC
JBER still the shop then
anyone know where Berenberg are on L2?
Growing strength to Farm Out negotiations. Just rejoice at that news. If it comes off and plans proceed to drill, there will be no holding this back in the run up and a successful conclusion is game changing by an order of magnitude.
wasn't it just. How could he not grasp that rather basic point. He seemed to know PL well so one can assume has been involved in Oil and Gas previously. The curtain slipped slightly there and exposed a void. He should come on here to brush up his knowledge.
Oh you must be the brains of the operation