Member Info for fiveeights

Errrrr.....The £3.5m raise has wiped or contributed to an erosion in market cap of what £20m.

it was the complete switch in narrative that caught everyone sideways. All the talk was of free cash flow, throwing off cash. Look at all this free cash we are generating....oh can we have some free cash from you?? Knuckle down now and get on with business. Stop issuing all these self congratulatory RNS announcements.

Hypothetical ....... PL himself discussed it on record in a pre arranged media presentation in 2018 as an option. Still don't understand why he put it on the table as a topic. He made it an issue. Huge credit to PPC for their operational performance since PF/EV deal. The share price is in part way beyond the control of BOD but they are directly responsible for what can only be described as an utter disaster of a raise. Failed to appreciate investor sentiment. Rushed in like an ill trained Spaniel. Rob Shepherd should, in my opinion, do the decent thing. As FD he comes out of this shambles very badly

PL’s point 5 implies they are raising money. For what god knows. If they are Raising then looks like there will be an open offer as well.

He writes a good email.

anyone have a link or copy of the coverage

If PL was thinking about it 3 months ago as is on record then he must be thinking even harder about it now with the price lower and the business further on. In reality I think the company would benefit from being out of the spotlight directed by a market listing. Given the shareholder structure I think it could be funded without too much stress. Given the price and history I think it could be done at 12.5p.

Between PL and current institutional investors they own approaching 75% of the stock.......how many more do you want to come on board!?

It would be an obvious one of interest. Like you I have noticed this on the presentation maps.

You make some very good points here

In Paraguay, PL is taking this company on a dangerous journey track in my opinion. Risking a very material amount of money for what; to save face from failed results in the past. If I was on the BoD, I would argue against it and try to rein in these high spirits. Use the $10m to pay down debt including the very high rates of interest paid to PL via IYA. Return it back to shareholders - that would be novel. Without a farm in/out Paraguay is a bridge too far for PPC in my humble opinion.

It was me and whilst this may be a very acceptable way to value NPV10, I am cautious of reading too much into 2P NPV10 figure in comparison to the present mcap

Using $68 to value NPV10 when they are not getting anything close to that seems cavalier to me. The reserves rearranging of deck chairs has been well flagged and who wasn't expecting the shift to EV/PF at the cost of PG. Market has already rewarded shareholders by the price not have fallen - that's a relative rally. Looming concerns and uncertainty with Macri in Arg and the October elections. Also my bugbear of related party loan agreements. All that said I remain long PPC

Sharp!? Look back at their holding history in PPC. They've been in PPC for ages and in a big size. They must have lost an absolute fortune.

PL lending to PPC at 12.5% over LIBOR is very much getting on with business and nice work if you can get it

What steps have been taken to determine whether the related party transaction of $4m loan by IYA at 12.5% above 3 month LIBOR is fair value. With a strengthened balance sheet and good cash generation, one would expect a lower rate even if unsecured.

Is the tide moving against him? I hope not but my anecdotal evidence suggests not as popular as before. Of course we have elections upcoming the result of which will be closely watched at PPC HQ.

I don't see the SP in that light. Look at the relative performance and this has outperformed LATAM oilers massively. The rally manifests itself in a share price that hasn't fallen 30%

think he said $51 or $52 in Rio Negro and lower in Salta Province

AParky - having listened to the call this morning that same point on discount to Brent put me out a bit as well. Seems to be tracking market prices down but didn't on the way up. I too thought that we were still getting in excess of Brent. Given the economic issues in Arg, inflation being chief amongst them so you can understand a desire to see prices fall fast