PYX Resources: Achieving volume and diversification milestones. Watch the video here.
I honestly believe we are now set. I appreciate there's been dillution in the last year, along with a well that's under delivered and one that's not deliverd at all. But we are also surving this horrible virus which with gods speed by easter we should be finally beating and are generating more than enough to keep the lights with wages being paid in cash. There's a hell of a team being built to deal with the increased acreage, the story is only just unfolding. I believe the share price will rise in baby steps for most of next year but by late Q3/Q4 we should finally see some traction as the low level fruit comes on board and the longer term plan is clarified.
Boffer I note your concerns and appreciate your frustrated with the dilution but to say the CEO has delivered nothing is blinkered. Do you think Shlumb would of transferred their assest and million bucks worth of oil if they shared your view. I'd say quite the opposite, he's been intergral to the deal and the plans to move the compnay forward will of been carefully disccused (don't forget 30% means a big say).
What am I missing here? I still don’t know why there’s this do or die gas connection by close of play Q4 or why the CEO’s head rolls or gets cemented if it happens or not. It’s already been stated that the Block ground staff are doing what they to assist Bago. Why is nobody having a go at Bago.....
So you haven’t got your pay day with 3 trading days to go before Christmas. Boohoo. The difference it’s going to make to the capex is negligible. Compare the profits to one well in a five well campaign producing 1100 per day at $65 per barrel.
Whoever just took 5% isn’t going to flip this side of the new year gas connection or not. Hold.
Sea, I think the obsession that numerious posters seem to have with gas sales by the end of the year is they want their money out. Whether its DEC/JAN/FEB it isn't going to make much difference to the market cap. As you rightly point out its two wells phase 1 and 4 phase 2 sucessfully drilled and all hooked up that will drive the price forward. Happy to be proved wrong but I but really care about the short term price.
I don’t know who’s laughing at who scamp but hopefully in a few we’ll all be laughing. Glass half empty/full. At £1.5m per sidetrack we don’t want another 51Z. If this fella can give the old wells tlc and the outcome is a productive field then he pays for himself many many times over. Half full you see. I did find Feeders comments of interest, it’s always great to share.
If you look at the acreage they have just got hold of even retaining some Shlumb staff could they manage develop that with the existing team? Remember they are having to outsource historical data for analysis, there’s so much of it. It’s a massive percentage increase, and they’ve employed a wise head to help manage it. Just simple economies of scale.
That's fair enough Feeder, this is AIM so can't rule anything out after all. I just can't see the appointment being hostile to the current board by the content and tone of the RNS. The next few months will indeed be interesting depending on news floor, lots going on gas sales alone isn't going to push it much higher I reckons.
Yeah feeders comments are interesting but the RNS states external agency was used to propose candidates. There’d have to be some real dirty shenanigans going on behind the scenes with Jocks involved for this to be approved if there was a takeover on the cheap happening. Can’t see it myself, especially with Dimmocks comments.
Shlumb wouldn’t of sold an asset of this size to Block and taken a position if the latter was winging it. Cost v revenue = raise now with profit for Phase 2. It will of been an exhaustive process with input from from our Northern pals. No doubt there’s other opportunities for bigger fish that haven’t been finalised as yet, who knows where they are in that process but I’d be surprised if there have been no talks.
Boffer, how long do you think a farm will take to set up and drill. These are high risk new drills. It doesn’t simply happen overnight. Are you content to limp along at sub 500 barrels for the foreseable until somebody is prepared to take a punt? They’ve looked at the data, identified low risk, quick ROI wells which will prove what’s achievable and they have funded it with the backing of a massive partner in Schulmb who will of signed off on the project of works. Like I said last night really happy they are cracking on with it.