The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
II on board prior to drilling news - encouraging
multiple statement on 'successful deepening'
1.1m + 13,000 inventory = total 2.2m there or about in stock/cash
natural decline - expected but boy this well better do over 500BOPD.
Management seem confident to self fund - if funding is not a concern, there must be a reason behind this.
All to play for.
What we don't know is the flow rate from the well before the LCM was identified......if the flow rate is higher than 500 but is suffering from LCM, this can turn around. PH should have at least told us the flow rates or give us something to hang on too! Something is fishy!
So the facts are, oil and gas recovered to surface but require a cleanup! PH, if you did this before the Ops update, we would not be here but a blue day! The second well is identified! JK with a side track and cheaper. Money is tight but if Block are pleased with the update, surely they know the flow rates of oil and gas before the blockage? Thoughts anyone! 1.90p Share Price as we speak!
I'm only going based on the RNS released. Interim results state Block IXB wells have improved due to BH services. Well 16a has improved flow rates. WRBA yet to be reported. PH if you want to give us an update on the Q3 report, just say so. No need to give us a jigsaw puzzle for the faint hearted. SP is declining by the day!
How long do we have to wait? Surely, if the results are positive we would get a sniff of the flow results? If the results are not as expected as per the previous leading on RNS's with 'increased hydrocarbons', the party waiting on the sidelines will take a snatch of PH seat