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Yes, 100bopd before Falcon 1 production.
Warrants at 0.15p should provide for next well in Champions license - Galaxie well. Around 65% of $750k (Falcon 1 cost)= $500k
So far last two warrants exercise rns: AUD320k which is around USD232.
$500k - $232k = $268k is left to exercise to cover next one - Galaxie well. And they have money still in bank. It looks like there is no need for placing for Galaxie well needed.
Once 0.15p warrants are exercised, then jump to 0.23p and above and so on...
Agree, It will be with Baja https://bajaoil.com/
They mentioned in RNS that Falcon is next to other producing wells. Has anyone came across those wells and flow rates of oil&gas from Frio sandstones?
Management best estimates are 50bopd net for Falcon and 35bopd net for Stanley 4. (page 12):
https://www.mosmanoilandgas.com/sites/default/files/14-8-20%20Final%20Pres%20-%20Monecor%20Webinar%20-%20August%202020.pdf
Oil at $40 makes Stanley, Falcon very profitable. Warrants excercise will make next drilling campaign happen with no dilution. Bod knows that and hence taken shares for at services, not just current year salaries. These new wells are all mid teens wells. Strategy refocus.
Another positive tick for potential Chinese JV partner reviewing 145 gas prospect:
https://www.santos.com/wp-content/uploads/2020/09/200915-Release-Santos-welcomes-Government-focus-on-gas-supply.pdf
Rock will go ahead with phase 3 drilling based on wording in the RNS. Said at least 3 times active systems at depth 380m plus etc... Assay results might give them good direction where is worth.
All imo.
I would go with what chairman DE said back in May's rns: ..once travel restrictions are lifted - gives us hope that a resolution may be achievable in the not very distant future... end.
And once we get a corporate update/news from that meeting between all parties (incl. funding partners), will review my exit plan again.
20% gain is good. Your choice.
It could be Novum clients' placing shares as sp allows that now in August/September... to take quick and nice profit before going somewhere else. New interest, CEO buying together with high volume help.
It looks like accumulation started at the beginning of August and I think CEO doesn't know the reason for it.
He wants to enter at these lower levels even though there are options at 1.5p available to exercise. I see his buys also as confirmation that Supreme Court decision has little impact on resolutions progress made so far, similar to what chairman mentioned at the last interview. CEO is at the end putting his own money for 2% of the company 3 months after Supreme Court ruling was made.
Continuity of accumulation will prove that there was something decided and that this will have an impact on PFP share price in a positive way. If it doesn't continue within next weeks, then it might be just market makers trying to rise share price for another placing. But at the last raise it was confirmed in rns that no placing until at least 2021.
thanks Ocelot for clarifying. when I was reading these posts here during webinar, i thought there is a JV discussion for exploitation as well. Which it makes now more sense as JV would only start when assay results are out and there are strong evidence of a viable commercial production in the future.