Member Info for oilboy2001

Well done for predicting the move on your chart Swazers. However, the truth is you go looking for trouble with posts like this. If self gratification on LSE BBs does it for you then fair enough.

Ah. Now I understand why you're so bitter. It's all about timing chap. Better luck next time!

No RNS today then. Given the PVE update I was expecting one.

RNS tomorrow

Would expect to see a few more position around now though? Not much going on... yet.

Only people selling and making money here are legacy holders or converted CLNs @ 4.25p?

I mean up to 9 months.

According to the new presentation looks like timeline for permit has changed to up to end of Q4 2024. I compared to previous presentation that said Q1 2024. This seems to be different to the operator. Nonetheless a delay of hopefully no more than 6 months will be insignificant in the long run.

Doesn't even move on this great news. It does have one thinking what am I missing. Maybe something is wrong after all. People worried still that he'll raise for a new asset? Permits in Italy not going to be forthcoming? Any volume just gets sold into.

Maybe it'll be double the market cap when it's sold

Yes, very good news!

"The permit process is hopefully going to be completed by at least the year end, if not a bit before"

09:00 onwards

https://audioboom.com/posts/8478910-midweek-takeaway-with-mark-routh-ceo-of-prospex-energy-aim-pxen-pxen

Allegedly CA is going to publish his article in May so I conclude that this will be the start of the rerate with the news to follow. Also KB has hinted at this.

Yes but it's going to be end of Q2

Yes. Or we will very quickly have debt again.

In this current market the strongest message is to have debt free and fully funded.

I have heard from several people permits will land in June.

Hopefully the management team can sit on their hands for a few months.

I do hope the company uses the funds to drill the next Selva wells to allow the SP to rerate before embarking on any new investments

There's a few spouting rubbish about needing a raise etc even though that was clarified in January by the company. Just goes to show they got plenty of cash.

The main problem with PXEN though is all the CLN shares. Whilst they funded the drilling the register is now massively diluted with the millions of new shares. Hence the low price.

Exactly and economies of scale are going to kick in big time here once the other Selva wells are permitted and drilled.

Even without the other assets on the table this is an attractive proposition. I feel like the drills probably may not happen this year but if you're happy to hold it's a great time to buy.

I am expecting it to get to 4.5pish before it picks up in run up to permitting which is going to be Q2. Probably May.