The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Trek - I've been meaning to thank you for a while. I follow your posts closely and I picked up on TXP at around 28p back in March when you mentioned them glowingly on another board. Since then, this has been the only share in my investing portfolio that seems (so far!) to go up in a straight line! So thanks again and I hope you continue to prosper. All the best to all holders. Up the mighty TXP!
https://jamanetwork.com/journals/jama/fullarticle/2773057?guestAccessKey=fb7a00d4-4479-425a-ab7e-5775f4536328&utm_source=silverchair&utm_medium=email&utm_campaign=article_alert-jama&utm_content=olf&utm_term=111120
The link to this article was shared on Twitter tonight by Sir Jeremy Farrar, Director at the Wellcome Trust and member of SAGE. https://twitter.com/jeremyfarrar/status/1326659806636236801?s=21
1.99 paid. Can we break 2p today?
Another very decent RNS this morning. All looking positive.
Highlights
• Workover of first well, EV-x1 completed on time and ahead of budget
• Excellent preliminary gas flow and pressure tests
• Well now shut-in and workover rig will be moved off to next well in programme
• Five days of further testing will take place and well should be on line by end September
Verbatim snippet from Radio 4 at 0609h this morning:
"The Mail has an intriguing quote, apparently given by Boris Johnson, to an MP he was trying to reassure recently. The MP said 'he told us there was news coming of a new test that can tell you if you are Covid contagious or not. This will end the need for social distancing.' the times vision of that story is 'Routine mass testing hailed as route back to normal life'."
Not sure what time Matt Han**** is on. Usually they line up MPs just after 8am but we'll see.
Fireworks likely today. Good luck all.
Decent, measured RNS. I like the final para of Peter Levine's comments at the bottom of the release:
Peter Levine, Chairman, commented
"In our traditional business, progress continues on a multi layered basis to achieve growth and long term profitability.
"The new energy initiative is reflective of our times and it is a responsible direction to take with a view to future energy.
"Let us see what develops without making any promises at this stage, all the time remaining focused on our core hydrocarbon businesses and delivery of the ongoing workover and drilling projects
"As a result of the increased levels of activity in both the current and next quarters on a number of fronts, President expects a more intensive level of news flow during the rest of this year"
All looking very rosy again today. A steady rise in the last week, increasing volume and 2p tested (briefly!) for the first time since early June.
Happily holding these and looking forward to upcoming drills.
Recent placing at 17p should help limit the downside risk here I think. Directors continuing to buy at that price was also encouraging. News flow has been good, but I acknowledge SP action has been underwhelming, which is strange in a bullish phase for small cap pharmas. YGEN has been trading between 16 and 20 for several months and I've used the latest dip to add with confidence. If I were already heavily invested in this at a higher average then I could imagine being reluctant to average down. But I think the investment case remains strong and that YGEN will reward patient holders in time.
Nice early buys pushing us back up above the 50 day moving average this morning - hope we c can hold and finish above 1.65. Technical set up is looking good for PPC to rise from here, backed up by the expectation of increased newsflow in September.
GLA
Matt Hanc*ck being interviewed on Today programme right now.
Talking about the "best" tests coming on stream, being tested right now at Porton Down, ramping up over remainder of this year, self administered, using saliva rather than swab, and results in 10 mins.
Excitedly joining the dots...
GLA
RNS Number : 0709U
President Energy PLC
27 July 2020
27 July 2020
PRESIDENT ENERGY PLC
("President" or the "Company")
President exports oil from Argentina for the first time
Group production guidance for H2
President Energy (AIM: PPC), the energy company with a diverse portfolio of production and exploration assets focused primarily in Argentina provides an update on sales of oil from its Rio Negro fields in Argentina and guidance on H2 Average Group production.
Export of Oil
Since commencing production in Argentina, President has sold all its oil exclusively in the country at the prevailing domestic price. Now, for the first time, President is exporting some of its oil.
After receiving regulatory consents, President, with the assistance of Trafigura, will export approximately 18,000 barrels of oil by the end of July, with the balance of the Company's production being sold domestically. The value achieved for the exported quantity is projected to be in line with current ICE Brent pricing less US$6. The domestic price for President's Rio Negro July production is US$ 37.54 per barrel, not yet at the US$45 Government Decree level due to demand side factors in Argentina.
Having navigated regulatory mechanisms in relation to this first pathfinder export load, in the coming months further oil exports are expected to follow, always depending on demand factors, thus providing President with another string to its bow for sales of product to end markets.
Group production guidance
President is currently projecting Group average production for H2 2020 in the range 3,000-3,400 boepd, an increase of approximately 30% over the same period last year. The estimated increases in production from the two workovers scheduled to commence by end of August and two new wells scheduled to commence by end of September will only be felt in the latter part of this half year. Of the Group's average production in H2, it is currently anticipated that oil will compromise some 60% of the total.
Glossary
Boepd means barrels of oil equivalent
The Hydra Capital article is excellent. So much potential here. Very exciting and ready to leap up on a positive announcement, hopefully imminent. 34.4p already paid today, sentiment looking strong on what is a gloomy day for the rest of the market. Hold tight and good luck all.
Transcript:
[ID] Now, a new drug developed to treat COVID-19 patients is being trialled in Southampton. Let's find out more about it from the chief executive of Synairgen, Richard Marsden. Now Richard, your company has developed this. It uses a protein called interferon beta which our bodies produce when we get a viral infection. Now when do you expect to get the results from this?
[RM] So the trial is split into two parts and we get the first part results at the end of June this year.
[ID] And if it's all successful, what effect will it have and how quickly can you get it out there?
[RM] Yeah, so the first part of this trial is where we're giving the drug to people who are hospitalised and interferon beta is an absolutely critical protein - it's an antiviral protein that we all make when we get respiratory viruses. Normally we use it to combat common colds and flu infections. And the reason we're giving it to patients as a drug at all is that asthmatic and COPD patients (those are people with chronic bronchitis) have a really rough time in the winter because of these very common viruses. So we've been developing the drug to give it to these patients during the wintertime, and when coronavirus jumped onto the scene earlier this year, we realised that there was an opportunity to deliver it directly to the lungs of these patients when they're hospitalised. So what we want to try and achieve with this is to get people out of hospital sooner. And also prevent those people who are admitted to hospital from needing ventilation and an escalation to their treatment regimen. So the data from this part of the trial read out in June.
[ID] So if you get the good results in June, and then it has to be licenced to go through the NHS presumably - all the licencing procedures - how long does that take?
[RM] Well, normally it would take several years but we're seeing things go through quite quickly, as we've seen a company called Gilead, they've got a drug called Remdesovir via that's been accelerated through approvals by the FDA. It's absolutely critical that we get good data from this first part of the clinical trial and our first port of call will be the regulatory agencies that the EMA, the FDA and the MHRA in this country, we'll have a conversation with them about the data and map out a route from there.
[ID] Well, fingers crossed Richard, thank you very much indeed for joining us, that's Richard Marsden, the chief executive of Synairgen.
Not that I recall - I'll check back on the LBC radio player once the show is finished and see if I can post a transcript. He talked about the hospital trial, results in June, and confidence that the regulatory/licensing steps could be cleared quickly if the results are successful.
Haven't seen this posted elsewhere, so sorry if this is old news, but I heard Richard Marsden being interviewed by Iain Dale on LBC around 1955h tonight for about 5 mins. Synairgen was namechecked twice. More good work raising the profile. Not sure if the clip will be available somewhere. GLA