The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
With c. $90m of available liquidity and further RBL capacity ... then on a good production deal this is a huge op at this equity price.
C. £10m of equity could easily be doubled or tripled over night.
Interestingly they mentioned japex "secondees" in Norway office... obvious what they are doing there!! Have no doubts they are working on something pretty big.
Has any one noticed just how ma shared the MMs will take off your hands the last few weeks .. gone from being barely able to place a £1k to £20k+ ... definitely cooking some big news up. I've added a lot sub 20p to bring av down. Confident we see positive news here relatively soon.
I have cast my votes to replace the Board.
The only 'success' so far was Victory. Arguably this only got done because of the 91% effective capital allowances and war in Ukraine changing future gas price curve. Lucky, not execution of strategy.
Parta, Wick, Colter, California all abject failures.
SS remuneration £700k+ pa is ridiculous. Bonuses being paid while value is destroyed and share price declines.
Now bullied into distributing £4m ... which actually seems negligent given stated strategy of buying 'stranded' assets that require funding.
WN - admitted they screwed up the drills. V v expensive mistake.
They are not oil men, they are numbers men who unfortunstely aren't very good with numbers (fairytale npvs quoted for all assets to date).
In summary they have failed to date, their strategy is in a mess with complete dependence on WN and they can't be trusted to invest in more assets ... and they are incredibly expensive.
Best they are kicked out imo.
All still to prove.
I have a large holding in uog but v disappointed with the number of shares they had to issue to acquire RKH assets.
Fact is... so far through debt and equity the board have raised significantly more cash than the mcap of the company.
No news on Benin or Jamaica.... or Colter.
Lot to prove, which i hope starts with the Ash-2 flow rates and fast track to production and cash flow followed by positive news on Jamaica.
Interesting....
Trinidad still expecting first oil by end june... hopefully operational update after site meeting next week. Get the impression that its a bit slower than PG wants... and any significant cf will be H2.
Ireland clearly trying to sell but nothing imminent.
Overall he's v focused.... no bs... in my opinion a v good, strong management to be invested in.
At current mcap £6.8m scope for appreciation is huge.
JB...you stated eor was unproven...its a well used/known technique.... we'll find out soon if works on inniss field geology....no one i know has said it's nailed on...if it were sp would be multiples.
Ceo shares clearly dont mean diddly squat.... he put in c.£1.2m of his own money... now worth c.£3m.... he has more interest than anyone in making it a success..... unlike a lot of smaller companies.
You completely miss the point.... companies go public for funding reasons...company raisdd £1.2m at listing.. will raise more at later date/higher sp to accelerate growth...not easy if private
Nothing guaranteed here obviously... but lot of potential...across assets/geographies.... news soon... heavily invested management acting like owners
Last time i feel a need to reply to your inaccuracies.
Joebop ... last time you posted you thought no evidence that eor could work....looks like you learned something....now it works but is delayed?! Prd always said H1 for first cash... check the calender!
If eor gives the results expected I'll lend prd the money myself!!!
Ireland is slow admittedly... but huge.
Morrocco vvvv exciting
Trinidad has potential to provide all cash requirements... or yes they might raise for fast track... at 15 to 20p post positive eor
Clns are perfectly reasonable, especially when provider in for long term
3 to consider:-
I3e.. 3 n.sea drills this summer.. 1 is dev for production 20k bopd in 2020... 200mm brls if appraisal successful
Rbd.. production underway in US, west newton appraisal just spudded in uk... othet drills to come
Prd... trinidad co2 eor, morocco and ireland..any of which worth multiples of current £9m mcap imo.
Pls DYOR.
Jbop
Why dont you read the company presentation on the website.... then you might understand the relevance of the 2 test wells...and the plans to scale rapidly on success/good economics..... the company are refreshingly open about the possible technical issues and risks.... clearly stated.
If you don't own any shares i suggest you do something more useful w your time than post here.
Not long to wait for news on Trin now.
It clearly doesnt mean 'Jack diddly squat'... it shows co2 eor is a proven technique and can generate multiples of current bopd production with v low capex requirements
Its being tested on 2 innis wells... and prd have the supply to execute rollout to 30+ wells if successful... you like RNSs... lets see what an update on testing brings
joebop ... oh dear....
lots of examples of CO2 EOR in the US. Only issues are the amounts of CO2 available and the economics. PRD already have secured the volumes - current testing will evaluate how much is required for stimulation of flow rates and the costs...
https://hub.globalccsinstitute.com/publications/what-happens-when-co2-stored-underground-qa-ieaghg-weyburn-midale-co2-monitoring-and-storage-project/8-what-co2-eor
'The Weyburn oilfield was producing only 8,000 barrels of oil per day by 1990. CO2 began to be injected in 2000, and within 5 years oil production had grown to nearly 30,000 barrels per day'
If CO2 EOR is successful for the two test wells the Innis oilfield will be a company maker for PRD based on on the rapid scaleability through the field and the potential to roll out the technique to other Trinidad oilfields....