Member Info for gregpeck7

I don’t answer to you. Jesus. You were calling the moon a few weeks ago and you expect me to tell you what brokerage services I use. It’s called. None of your business!

You would need to follow me on twitter and telegram... P10 group are well aware of my bear case.. I don't need to make it here....

Currently researching my next "dog" stock.

So if you follow me , you will get that as soon as I publish.

Err i have not created any accounts. I am on ADVFN - Gregpeck7, Twitter as Gregpeck7 and here as ... Gregpeck7!

I use all 3 sites, nothing to do with PXEN ROFL...

Dave - like it or not - I don't post a lot here, in the last 30 days I have made 8 posts, so I am hardly spending day after day here de ramping.

I was merely correcting a post that was wrong.

I still think this will hit around the 4p level and that is my target. Simple as that.

So for me personally - I don't think i waste or spend much time here at all, but I am a bear on PXEN.

https://twitter.com/Gregpeck_07/status/1640270231980621827

https://www.ft.com/content/913db0ed-ccb6-4cde-8d39-f1f78b1240f5

Will hopefully help the Maria transaction get over the line. Windfall tax looks like it’s being modified / tapered.

Plenty in there and if you have not deffo listen to it.

https://youtu.be/M9J1uqnmQfE

Key points if you have not listened

Produced prior to latest ash ‘gusher’
Brian refers to the ‘insanely’ cheap share price
A lot more chatter on Jamaica than I remembered hearing at the time.
Lots of Egypt updates. Peter clearly stating the receivables were flowing again and the situation was improving.

World bank have just sent them 7 billion multi year investment

https://www.reuters.com/world/africa/world-bank-agrees-7-bln-framework-with-egypt-2023-03-22/

Interestingly as they have asked for usd payments from EGPC, they are in a better place financially, as if they did take the payments in egyptian pounds they would get 20 percent more… also state that capex costs are coming in lower because of the cheaper pound. So there are 2 sides to the story.

Jamaica clearly a huge focus in h1 .

Be stunning if we do wake up to a Jamaica rns.

All in all it reinforces the investment case here. Which is like all companies, you can point to issues and problems where ever you look.

But at 7m mkt cap. Which is where this is again now. Are these issues overly priced in? I think for me the answer is a resounding yes.

Brian thinks the asset ( Egypt) may be worth more than 16m now. Which is what they paid for it after 3 years production. Be interesting to see the next reserves figures. 2021 they did increase. So Egypt alone is probably worth at least twice the mkt cap of the company.

Hopefully see a bit of buying internet this week. The wider market has deffo not helped recently.

But huge political risk. Been in and out of genl over the years. This is not good news but hopefully another KRG storm in the team cup for holders. Genl were shafted over the gas a year ago ( miran ) is this part of a wider strategy of some sort?

Luckily not in any KRG oilers currently. Good luck to all here. Who knows which way this goes.

You are welcome to find me on the UOG thread if you diversify.

Genuinely hope this ends ok for holders as this is not deserved.

Plenty in there and if you have not deffo listen to it.

https://youtu.be/M9J1uqnmQfE

Key points if you have not listened

Produced prior to latest ash ‘gusher’
Brian refers to the ‘insanely’ cheap share price
A lot more chatter on Jamaica than I remembered hearing at the time.
Lots of Egypt updates. Peter clearly stating the receivables were flowing again and the situation was improving.

World bank have just sent them 7 billion multi year investment

https://www.reuters.com/world/africa/world-bank-agrees-7-bln-framework-with-egypt-2023-03-22/

Interestingly as they have asked for usd payments from EGPC, they are in a better place financially, as if they did take the payments in egyptian pounds they would get 20 percent more… also state that capex costs are coming in lower because of the cheaper pound. So there are 2 sides to the story.

Jamaica clearly a huge focus in h1 .

Be stunning if we do wake up to a Jamaica rns.

All in all it reinforces the investment case here. Which is like all companies, you can point to issues and problems where ever you look.

But at 7m mkt cap. Which is where this is again now. Are these issues overly priced in? I think for me the answer is a resounding yes.

Brian thinks the asset ( Egypt) may be worth more than 16m now. Which is what they paid for it after 3 years production. Be interesting to see the next reserves figures. 2021 they did increase. So Egypt alone is probably worth at least twice the mkt cap of the company.

Hopefully see a bit of buying internet this week. The wider market has deffo not helped recently.

Just dreadful mgmt. so much cash and so few ideas. Other than invest in dodgy areas of the globe.

This will not be good as per below.

Different link. They need to get out of the KRG with the revenue they get

https://www.reuters.com/business/energy/iraq-halts-northern-crude-exports-after-winning-arbitration-case-against-turkey-2023-03-25/

Plenty in there and if you have not deffo listen to it.

https://youtu.be/M9J1uqnmQfE

Key points if you have not listened

Produced prior to latest ash ‘gusher’
Brian refers to the ‘insanely’ cheap share price
A lot more chatter on Jamaica than I remembered hearing at the time.
Lots of Egypt updates. Peter clearly stating the receivables were flowing again and the situation was improving.

World bank have just sent them 7 billion multi year investment

https://www.reuters.com/world/africa/world-bank-agrees-7-bln-framework-with-egypt-2023-03-22/

Interestingly as they have asked for usd payments from EGPC, they are in a better place financially, as if they did take the payments in egyptian pounds they would get 20 percent more… also state that capex costs are coming in lower because of the cheaper pound. So there are 2 sides to the story.

Jamaica clearly a huge focus in h1 .

Be stunning if we do wake up to a Jamaica rns.

All in all it reinforces the investment case here. Which is like all companies, you can point to issues and problems where ever you look.

But at 7m mkt cap. Which is where this is again now. Are these issues overly priced in? I think for me the answer is a resounding yes.

Brian thinks the asset ( Egypt) may be worth more than 16m now. Which is what they paid for it after 3 years production. Be interesting to see the next reserves figures. 2021 they did increase. So Egypt alone is probably worth at least twice the mkt cap of the company.

Hopefully see a bit of buying internet this week. The wider market has deffo not helped recently.

Has been having difficulties with foreign currency for a year. They have devalued the pound 3 times in the last twelve months. They are also risky rates. Almost all developing evolves are struggling with the more expensive dollar. Oil and gas is a big foreign exchange earner for Egypt, especially gas where they produce more than they need. So they are trying to raise production and lower demand. Clearly this is going to be difficult if they don’t pay operators. They have a pretty good deal on their psc’s so imo although turbulence we will be ok. They are not ‘not paying’ either it’s just more difficult getting usd based payments. The situation is meant to be slowly improving.

But this is just the way it is . Uog need wi just keep running the business. Pay off the debt and then look to the future. Egypt is a key us ally and they will sort them out one way or another.

Jono

You really need to stop lying

From the latest update

"Cash, Net Debt and Receivables

The company entered 2022 with a cash balance of circa $0.4m and Net Debt of $5.5 million. The cash balance as at 31 December 2022 was circa $1.4 million with Net Debt reduced to circa $1.5 million. The current BP facility is expected to be fully repaid in the year."

1.5 million in December.

You are literally almost doubling the amount of debt they have

Just see Jono for what he is. A liar.
Since then 3 more payments made.

9 x

https://twitter.com/Gregpeck_07/status/1638462160912228352

Looking for more next week or so while I can keep building at these levels.

Been considering this.

When they acquired the 22% of AS from Rockhopper they took on almost 10m of debt and enlarged the capital base - they only time they have really done this - note (at 3p) so almost 200% higher.

Since then that debt has been steadily paid off to almost nothing, production levels were actually similar to where they are now, and the world oil price was lower.

If that does not tell you how cheap this now is, then I don't know what does

GP

Agree sniffer and would surprise me if ASD3 spuds next week.

Last year after 2 success’s they had - few bad results. If we could have a trouble free year in Egypt that would be huge. On top of that 8 workovers to be accounted for which I am positive about.

Yep you are correct, I am starting to think we will get a partner, but all will be revealed soon!

Realistically DOG I think we will give up probably 60 to 80 % of the license for a free carry on a well, we may also get a few million cash.

That's still transformational, but that's where I think the deal will come in.. If there is one.

I fully expect we would give up the operator rights.

Or anyone else thinks, ive done my research here. The value is there for all to see. If "vistaman" does not like whats on offer pull out your capital and put it to work on a better opportunity.

Im yet to see anyone suggest a better sub 10m mkt cap op than this.

Because its so low though , it can move very quick..

Its annoying seeing it languish - it annoys me!

But just have to be patient..

Still some sellers - just need volume to work them out... Once they are gone uptrend is there for all to see.

Wider market does not help but Im happy to continue adding at these levels. This is so de risked and I trust Brian, this will come good from here.

Just imagine if PANR had got their well going at 7000 boepd, they would be looking at half a billion cap at least lol...

This is a gem.. All it needs is attention, nothing to hide here.. Just needs more eyes.