PVR's drop yesterday was due to Iolar23 Aug 2019 13:37
being a duster. LOGP dropped in sympathy as did EOG, but it doesn't actually affect us as we have no Atlantic Margin assets. If anything it makes Barryroe even more crucial to Irish energy policy.
Well I guess they never anticipated the money would take so long to clear and decided to risk it by not raising cash for running costs. At some point they will have to pull the trigger and do what I said if the money still hasn't arrived. The later they leave it the harder it will be so I'd get on with it if it were me. 3-4% dilution is nothing so even if Chinese funding does then clear before the third week of Septemeber it's no big deal. Better safe than sorry.
I'm thinking that the best course of action would be for PVR to raise $1.9M to cover 12 months running costs and then wait for the Chinese money to clear. Given that the market cap is £44M they should have no trouble raising such a paltry sum at 6-7p. Perhaps TOR is waiting on the Iolar result for a possible spike in SP to do precisely that. LOGP is fully funded for almost 12 months so if PVR do the raise then we have plenty of time to wait for the funds to clear.
Yes BadA, plenty of dusters, however they were all high risk exploration wildcats. Now they are drilling what are effectively high COS appraisal wells and one exploration well. Best drilling lineup they've ever had IMO.
Huge resource, very high COS, NPV orders of magnitude greater then current enterprise value and drill already turning. From the SP action you would never know.
Looks like Admiral Adama's hit the FTL hyperjump button on Battlestar TSX once again as the price leaps instantly to the next galaxy. Feels like blatant price manipulation.
Itsyou, sorry for the off topic but do you have an opinion on I3E? The fundamentals look very good with a very low risk three well campaign with significant upside, yet the SP action has been very muted so far. Am I missing something? You're input is always appreciated. Phoebus.
Folks are more than happy to buy the dips because they can see the huge upside once payment completes. Could well be one of the best performing shares of 2019.