Member Info for MozzaBezza

There are a few things really:

Joint Venture partner: The partner gets the benefit of our 25m USD tax losses. I am hoping that a JV partner would pay for some or all of our initial drill costs.

Asset Sales: prevents the need to dilute anymore than necessary and allows us to pay for the initial drills.

Using the proceeds from asset sales to fund possibly more acreage in the red cave formation (where you can get reserve based lending), in addition to the initial drills in the spring.

0.072 to buy right now, so I think this is positioning by the MMs. Once they're sorted we'll probably shift up again I reckon.

Looking through the trades, most of these are buys. It'll shift back up once the MMs either have repositioned themselves or (if there is one) any background selling has cleared through.

Feels at the moment more like the former, else the spread would be a lot narrower for the MM to then sell those shares back.

Yah, I would agree with that, 100%.

I think that the MMs were expecting a placing rather than a loan from a few large investors and the directors. Hence why we have shot back up on not a lot of volume (in cash value terms).

Looked very strong today. All fingers crossed thst we get some JV news soon as that will be what gets us going through the gears here.

JV with them up fronting costs for the first wells and I think we get 7-10m mcap, or 0.35p plus.

Lovely to see some positivity coming back here, both regarding sentiment and the price!

Any JV that funds the initial wells spend at Red Cave would have this at 7-10m MCAP, IMO.

Brilliant move up on Friday. Any JV news that sorts the funding for the initial wells prior to the Reserve Based Lending kicking in and this will absolutely rocket.

Clearly if the BOD have taken salaries in stock and options it suggests that they are confident that a good deal can be signed.

I don't know how much the U.S. closes down over Christmas, but it may well be that when (hopefully it actually happens) it actually completes falls after the Christmas period.

I think that we're at a stage in market cap terms where a good JV (particularly if it makes reference to funding initial drilling) would see us double in a day.

This will benefit very much from the conservative majority, IMO. Going forwards with Brexit CWD is the perfect high beta stock to be part of.

I'm in from the 4p level, but I think this goes a lot higher. 10-15p

And another director buy. Something is definitely going on here, IMO.

Director buy just in too.

There we go. II buying.

Big move up suddenly just before the close. Looks like something is going on here....

I only keep an eye on PQE due to the AOGL shares and warrants, but I think that they probably haven't stuck out a B/E Bopd figure due to the oil price volatility and just the fact that their cost base is probably pretty variable, or at leat has been.

I'm not saying their transparency couldn't improve, but I would imagine that would be the answer you would get if you asked them.

Certainly a ball park idea would help, I agree with you.

The current implications are that the BOD would like it to be from asset sales, but as ever with AIM, who knows!

"In line with re-postioning and the divestment of non-core assets, sales package prepared for Austin Field to monetise part of the NPV10 of US$7.6M assigned to proved and probable reserves by recent independent Reserve Report, covering all existing assets, being Austin, Zink Ranch and Fort Worth"

Yes, any of those options would be the ideal!

I agree with all of that EGTP, however in aid of balance I believe that regarding paying for the wells there was a question mark: "subject to funding".

Now, that being said, I would imagine that this is where the JV comes in, but I don't know that for certain.

Pretty painful looking.

Hopefully we get some JV news soon, but with Christmas coming up I wouldn't be surprised if we get nothing until the new year.

Hopefully, JV news can alleviate current concerns about funding the drilling programme.

I think that until the market can see cash on the balance sheet for us to work with, we will stay sub 0.1p

Very well may be them. I can't find anything about them from 2019, which is a bit weird, so perhaps they've run into issues and are looking to get rid of some of the 30000 acres they have.

There was talk perviously in one of those articles about their preferred plans being to farm in for the their Red Cave acres, so it may be that as operators there might be a tie up there for us, but I'm only guessing.

"Intangible Drilling Costs" - it's basically a tax break.

Helpful (regardless of what you think fo the guy) is right. So any JV partner will (presumably) end up being a current producer that is netting something reasonable, would be my guess.

JV, and us getting more acreage (hopefully paid for with asset sales elsewhere) should get us RB Lending and any JV partner would presumably put upfront cash too.

Hopefully (and I don't know how many times I've thought about this) that would kick off a quick run to bigger production for us and (one day) net profitability.