Member Info for Gusto1

Stiffy... You're getting desperate, and sound very very frustrated. Your were lied to by the famous 5.

Your comment on the TG group.

"Lack of momentum is bringing out Sellers recovering some of their money"

Ship sinking? You know what's happening but refuse to believe it.

Stay safe.

Unfortunately I can only see further dilution.

3p cln acts like an anchor right now £66m shares approx

What price will the next raise be?... Hhhmmmm

Stay safe

Yay... This is great news..is it?

Develop the Poland field with what cash? Needed to raise cash to afford the Italy seismic, what about here?

Stuffy is selling his clns, crafty man.

How many total cln left to sell? I'll let you guys do the maths.

Stay safe

Matt Eden..... You are wrong!

I don't want a cheaper entry. The share price is here for a reason.

All the evidence is here...

Over and Out.!

Only benefit is people don't get trapped...

Don't fall for the I've added on the TG group....

Stay safe.

Just stay safe all....

Nelson,

I was interested in early March, then the CLN raise and its terms became clearer, and I reassessed. That’s what rational investors do when the risk/reward shifts.

Instead of actually engaging with the points, you’ve gone digging through my post history to invent a motive that suits you. If anything I’ve said is wrong, challenge it. If not, this kind of speculation just looks like deflection.

I’m not going to outline my position for your benefit. Everyone here should be capable of making their own decisions without trying to second-guess strangers on a forum.

And no, pointing out risks isn’t “running down the price” — it’s called having a balanced view. Not everyone is here to blindly cheerlead.

GL

You wrote this Oilbuy2001.. You've answered your own question

RE: OUT OF MONEY4 Mar 2026 16:37

I think it's a lopsided view and far too bullish.

PXEN operates with a very tight balance sheet.

Any cash buffer disappears rapidly with operational issues as we've seen. Hence the CLNs that bridge the gap and also placings before.

You are demonstrating blue sky scenario and there's never been any blue sky at PXEN.

There will probably be many more potential delays based upon companies past history therefore I fully expect more cheeky equity raises to keep the lights on whilst PXEN waits for permits and whatnot to arrive.

Stiffy... You. Didn't answer my question about where is all the cash?

£1.2m admin costs per year..... Seems kinda high.

What are the operating costs? Say around £1M that's being conservative.

Viura needs funding this year again....( Watch this space)

So I ask again.... Where is all this cash you keep talking about?

My past posts are correct....

HNWI you mean rollover et al?

Seems like he ramped you in.. Now your stuck!

Shame.

Stay safe

Stiffy... You took the cln it seems like. So you need the share price to go up. Or you can choose the payments loan to be repaid in 3 tranches with 12% interest.

What makes you think they can afford to pay you back?

"the company is earning money via Italy and via Spain although the Northern Spanish investment has the income accruing to a fund, but the investment will reap 3/4 the current income when that well is drilled."

Where was this income when the seismics needed to be paid? It was only £800k, so if the company is coining it where is all that cash?

Red Flags everywhere.!

You sound like a desperate ramper needing an exit strategy. You are part of the famous 5, or they roped you in.

I won't be your exit strategy.

Stay safe and AVOID this share.

This is NEVER eaching 8p again, Unfortunately

Stay safe

Rollover et al pumping hard again...

Stay safe.

So, the raises so far....

Aug 2024 6.0p

Jun 2025 4.5p

Mar 2026 3.0p even though this started in 2025.

The famous 5 large shareholders found out about another raise after the 4.5p one. So they all sold down to teach the CEO a lesson so he couldn't raise. This however backfired as he raised at 3p. They then sold down to 2p to put people off buying the 3p cln. They got rid of MR and now suddenly behind the 3p cln raise. They are the ones that have decimated the Share price.

They bought the 3p clns and then started to sell at 4p.

If I was a new person looking at this for an investment.. Move on. You'll get stuck and just become their liquidity.

So what's the next raise worth....

Stay safe

Just saying what I see...investingsquire.

I don't want innocent pi's getting trapped in here.

Don't be the liquidity they need to SELL Out.

Stay safe everyone.

More to the point stiffy.

DO YOU UNDERSTAND? what's happening here....

Its actually £800k for seismic

£200k needed to pay for virua for a June 2025 bill....

£300k needed for El Romeral.

Probably another few hundred K to pay for MR severance.

What's left of the £2m.....??

This

I understand that the 3p clns are selling off. ONE PERSON HAS CONVERTED AND SOLD THE 3P CLN. IT MAKES NO SENSE TO SELL NOW UNLESS YOU DESPERATELY NEED THE MONEY, IT CARRIES A 12% INTREST PAYMENT PER YEAR AND SO YOU CAN CONVERT AT ANYTIME. I TOOK THE CLN AND LIKE OTHERS WHO DID IF I WANTED SOME MONEY I WOULD SELL SHARES I OWNED RATHER THAN CONVERT THE Cln.

Thanks for clarifying that you would sell shares you already own rather than the cln. This is what's happening then.

Plus allegedly 1 rogue cln seller. Or more...

Is Viura producing? YESSTILL PRODUCING AND ADDING MONEY TO THE FUND FOR THE NEXT DRILL SO THIS.

Its producing nowhere near what is needed to self fund. Its going to need millions to drill further. Where is that coming from? Another raise? Last one was 6p then 4.5p then 3p...what's next 1.5p?

El rom not producing much if anything at all. EL ROM IS PRETTY MUCH DONE AS THE SINGLE WELL, ALL THE INFRASTUCTURE IS READY FOR THE 5 NEW WELLS, PERMITS ARE CLOSE BUT YES GOVERNMENT RED TAPE HOLDS UP A LOT OF THINGS, FARM OUT DEALS ARE BEING NEGIOTATED

You need permits for this.... Where are they?

again needs millions to drill.

Selva is the only one producing cash right now. They needed to raise pay for the seismic. SEISMICS DONE AND PAID I THINK IT WAS £700K FROM THE 1ST CLN. SELVA &EL ROM & VIURA are ALL PRODUCING RIGHT NOW. CAPEX COSTS ARE FAIRLY LOW. EL ROM IS NO LONGER ENOUGH THOUGH AS THE STREAM IS PROBABLY WEAKER

So where is all the cash? INCOME OF ABOUT £500K PER MONTH,

Delusional figures of £500k a month.

Stiffy I getting your want your investment to do well. But you have been duped by the famous 5 large shareholders.

Stay safe

Stiffy..... Sure...

I understand that the 3p clns are selling off.

Is Viura producing?

El rom not producing much if anything at all.

Selva is the only one producing cash right now. They needed to raise pay for the seismic.

So where is all the cash?

Seems like that £2m raised has already been spent.

Must admit this doesn't look good.

Stay safe

What about the original £1,346, 050? Cln raise they can sell those anytime. Oh wait, they have been selling.

That's around 44m extra shares.

Nobody in there right mind is buying now. All you're doing is providing liquidity for the 3p clns to sell out.

Stay safe