The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Im in ..
Not sure why anyone would come up with a statement that consoldation will somehow relate to a SP fall - the Mkt CAP stays the same .. make no difference at all other than it looks better than billions of shares @ 0.15p on the requster. its a good thing. Also Whist there is signicant risk on a wildcat you have to base that risk v market cap not SP. Chevon have put that risk based value on One licence at many multiples than the current Market Cap, and now we have Intitutions getting in on at premium.. Whether Uraguay is the next Nambia remains to be seem , but if you want to get involved CEG is worth a fraction of what other much more knowledgable world leading oiler are ready to invest. These boards are full of Desperate gamblers and Fools IMO
F.Y.I
Valaris D17 Drillship is moving down towards Falklands offshore Argentina arriving tomorrow to start drilling. Targeting 1 billion barrels.
Equinor in April will begin drilling the Argerich-1 exploration well in the CAN 100 block in the North Argentinian basin, offshore Argentina.
The well will be drilled 315 km from the port of Mar del Plata by the Valaris DS-17 drillship in 1,527 m water depth. It will be the first to be drilled in the country in ultra-deep waters. The well is expected to reach about 2,500 m in depth and 106 cm in diameter at the sediment surface. Drilling work is estimated to take 55-65 days.
If the presence of oil is confirmed, Equinor and partners are expected to carry out an appraisal campaign in 2025 to gather technical data including field size and potential productivity.
The Argerich project is operated by Equinor with 35% interest. Partners are YPF (35%) and Shell plc (30%).
Morning - Cant really see how anyone could put a negative spin on that - always look at the details with these kind of thing, but on review looks a very clever piece of funding and a very good deal for shareholder - once again the strengh of this underpins the SP and demostrates the institutional "want" to get involved. Great deal
Morning
I wont get involved in the ramping / troll debate .. boring and who really cares ?
A snippet of information below - udated shipping info for the expected arrival of the Equinor CAN-100 Drill..
https://antaresshipping.com/news/april-10th-argentina-offshore-prospecting-can-100-area/
Hi All - See attached link
Explains the correlation between our block and the CAN C100 Block being drilled sonn by EQUINOR. S&P artical directly mention OFF-1 when discussing Equinors prospects in relation to Namibia.
https://www.spglobal.com/commodityinsights/en/ci/research-analysis/why-is-a-discovery-in-namibia-good-for-uruguay-and-argentina.html
Morning
Anyone know the details of the drill that's due to start in April southern to us in arg ? Would like to educate myself on the relationship it has this source rock that forms so much of the hype around Uraguay
Agree - That 40% carry is values at next to nothing at the moment - Once the Gov sign off the Chev Deal - which is not really in any doubt - at the current SP 40% of off 1 and 100% of OFF 3 is worth about £4m at the current SP!! Chevron think 60% of OFF-1 is worth punting at least $40 upto a total of $140million under this farmout, carrying almost all the cost burdern (100% 3D + 80% of a £100milion max first ) This certainly is one for the drawer . and will be a fun ride once those basin drill bits start going to the south
That presentation is well worth watching
26 mins 50sec - They have enough cash to see then thruogh to completion uraguay gov approval - 2-4 months . He will turn himself inside out before looking to ask SH for funds (or words to that effect)
VIdeo of the presentation peeps - Enjoy
https://www.google.com/search?sca_esv=5fddc3dd36c4976b&sca_upv=1&rlz=1C1ONGR_en-GBGB1053GB1053&sxsrf=ACQVn08-3E9sikkJLBW-fQJoQAPYqFVtEA:1710945610557&q=challenger+energy&tbm=vid&source=lnms&prmd=invmbtz&sa=X&ved=2ahUKEwjNj-OKiYOFAxUkQUEAHSZvADgQ0pQJegQIFhAB&biw=2400&bih=1138&dpr=0.8#fpstate=ive&vld=cid:beaa0814,vid:C85bB9ynH18,st:0
Hi All - I must admit its hard to work out how much cash CEG are has / using at the moment - discontinued operations, sale proceeds etc - current operations and$ 0.5 million retained as restricted cash collateral for the OFF-1 performance bond - (which could well be on its way back to CEG) ? I think at worst there may be a need for a small bridging loan
Hi Interestking
Good post - I think its an unbelivieably good deal for CEG - on top of paying 100% of 3D's Chevron are effectively covering 80% of the drill costs upto a max drill project cost of $100 million - 60/(40 -50%). so a $50 mill Drill CEG would have to stump up $10 million. All that and retaining 40% upto drill bit point makes this a huge gift IMO..Chevrom willing to chuck that much at it for 60% im amazed to is still at these levels TBH
Apologies - put that post on by accident - ponit was - CEG have $12.3 and a free carry only needing to pay 25% of drill costs.
Whereas Chevron will ha ve to spend a total of $110 million for thier 60% to the same point of progress on first drill. I think it shows how keen they are to get thier hand on OOF 1 with OFF 3 still to come. This is much cheaper at 17p today , than it was at 12p yesterday. That big mark up was justified big not quite bought into yet ... Think this will rerate quite a bit ..
Hi All
So chevron will willing to commit upto vvv miliion
US$12.5 million cash on completion of the Transaction
Upto $37 million on 3D campaign - up $21 Million for thier share and US$15 million net of CEG 40%.
Upto $60 Million Should Chevron drill will carry 50% of CEG Uruguay's share of costs associated with that well, up to a maximum of US$20 million net to CEG Uruguay.
I like this bit
'Sondrel solved a problem that others could not, and that was necessary for the finished product, so it played a pretty significant role,' the insider told MailOnline.
Redx and Jazz have a longstanding collaborative relationship: prior targeted oncology deals cover JZP815, a precision pan-RAF inhibitor now in Phase I, and a MAPK pathway collaboration. Under these three deals, Redx could be eligible for remaining potential milestones of up to c $1.2bn. Separately, Redx has a fibrosis partnership with AstraZeneca.
Here you go
https://www.trinitydelta.org/research-notes/up-to-870m-kras-deal-marks-third-jazz-collaboration/
Summary of trniity update today
Trinity Delta view: The Jazz KRAS deal covers an under the radar programme only recently disclosed by Redx, further underscoring the strength of its medicinal chemistry expertise in discovering differentiated small molecules that address hard to drug targets in oncology and fibrosis. Business development activities also contribute non-dilutive funding, in this case extending the cash runway into 2025, beyond 2024 catalysts, thus allowing optionality around value creation from the highly attractive ROCK portfolio. Key H124 catalysts include: (1) zelasudil Phase IIa idiopathic pulmonary fibrosis data, and potential lift of the FDA partial clinical hold; (2) initiation of the first RXC008 Phase I fibrostenotic Crohn’s disease trial; and (3) topline Phase II PORCUPINE and PORCUPINE2 data for RXC004 in combination with checkpoint inhibitors in Wnt-ligand dependent cancers. Our last published valuation was £367m/$441m, or 94p per share, which does not include this latest KRAS deal with Jazz.
Hi - New to FUM, just researching - good point about amazon 4k+ sold each month now on amazon alone.
I think its far to early to call on both Cirt and certainly PSE- anyone kicking off about PSE Sales clearly has no idea.. 40-50 IN Dec month isnt bad for a soft launch, meaningful numbers will come from deals with insurers and charities etc.. Barriers are completely different to CIRT which is in the middle of a life or death process..
Its interesting to note how the SP has reacted over the last year - back in August CIRT numbers we presented and SP didnt move a jot - Announcement of the the PSE test (which holders were fully aware was coming) and the SP went mental with AIM Punters alone- follow up to the dissapointing numbers (which i also felt a little tricked by) and suddently cirt and PSE doesnt work , needs more trials, going bankbupt etc etc .. it does make you wonder who buys these shares and the power the AIM moronic herd have over the SP - 50%+ Held by institutions and they havent done anything notifible post results. I think the result exposed Jon shortcomings as a CEO, Alot has lead has been executed very well - PSE Developement, Coding , BUPA, LAB ..Thes are impressive on the ops front , Anyone who held and AIM bio know you can sit around for year waiting for Medicare code.. and beaten thier own targets .. but weve seen that Jon's style is to show us what he wants and obscure what he doesnt - He didnt lie, but he chooses to skip over data - for example at the time of placing he gave a additional figure for the numbers of tests completed - now we can see that it included July, but he didnt provide the specific date.. If he had that metality with SD etc he wont last to the. Unlike most AIMs of this Cap well have big holders who effectively form the majotiy shareholding .. so if he p=sses them about with Bull then he out of a job - or will get a pay cut , they have to vote for it.. what we say is irrelevant.. but TBH nothing fundamental has changed from 10p-50p and todays 15p price.. Other than the RNS PSE, MEDICARE CODE, BUPA DEAL and LAB cert -Q2 Funding has been stated very clearly.. no smoke and mirrors there