Member Info for Proquo

Great update Dan. Thanks

You beat me to it Mullins. $111 and climbing by the look of it. As I said, this elevated price has probably made the company decide to get H2 onstream at the earliest opportunity now. Even 30 or so bopd is more than enough to be commercial at this level of oil price.

Good luck with that. One guy on his own and the whole narrative around UK opening up its own resources has shifted dramatically, especially wrt gas production.

Thanks Dan. I wouldn't mind betting that the prospect of elevated POO for some time to come has made their mind up with Heron 2, hence the increasing activity you're seeing there. Even at only 30 bopd it becomes commercial at $100 POO, netting us around $60K a month clear. And they can get it onstream straightaway pretty much. No-brainer.

Excellent find Dan, thanks. Seemed for quite a while that Sunsteppe has got the wind in its sails.

Pre-Easter update nailed on for tomorrow, being a Thursday 'n all?

Stop embarrassing yourself Krok.

The longer the wait the bigger the deal. Meanwhile, we're trousering something like $20K per day and will continue to do so for the foreseeable.

Lovely

Chump, who dodged the Vietnam draft six times, tells others to be more courageous.

For a decimated country, they're still pretty good at bombing Dubai, Kuwait, Saudi etc. Chump's carer or key worker needs to confiscate his phone before he goes to bed, especially if he's been doped up on his Zopliclone to stop him hearing his missus banging the bodyguard. Late night rambling, dementia-addled, bitter texts about your ex allies is never good.

Flip flop, flop flip.

Yes, they put out that tweet about the Block XX meeting for a reason. And why use the word 'successfully' instead of 'held' or 'took place'? I took 'successfully' to mean that they got out of it what they wanted, with no objections or impasses cropping up.

Hi Kr. I'm a ramper because I post post positive messages about the company's prospects having invested a good wedge in this.

Weird, right? I'm also in profit at the current bid so what losses are you talking about?

Frontera, totally agree. If you engage with trolls like Hamm then you are doing exactly what they want. Greenbox and ignore. The farm-out is still being worked through as we haven't had an RNS telling us otherwise. It really is that simple. Anyone saying anything else is just trying to spread FUD.

Yes, one of the 'partners' we are currently negotiating with must be DQE who we need to get ready to do the work at Gobi ASAP. I assume this will go ahead with or without a farmout. I'm sure the counterparty will want to get straight to Gobi given that it's all ready to go. If not, we certainly have the funds to do it ourselves. If we are going it alone another 100bopd from Gobi would be very welcome. The money from the last raise was set aside specifically for Gobi. We've earned a lot of free cash since then, so I also agree that we've probably got enough money to get on to drill a Gazelle 2 or Heron 3. Add in a tidy windfall from Sunsteppe, which seems very possible, and we might certainly be in a position to go after RBL to develop the field further, especially if Buck gets a CPR to update our reserves numbers. Ideally, we get a great farm-out but for me there is a fall-back position which would probably extend timelines by year or so - just as we're getting close to the refinery being commissioned.

Lovely

Totally agree Bauch. I filtered it yesterday for posting what was clearly misinformation.

Morning. All sounds good from the email replies from the company. Certainly nothing negative can be read into them. H2 sounds pretty straightforward to bring onstream if they decide to, although of course that might well be a joint decision now. Presumably the farm-out partner would have looked at the data collected too. We're doing pretty well for cash given the price of oil for the last month and the decision to not interrupt H1 pumping for the de-wax tells us clearly that sales are still going ahead, presumably based on the 2025 agreement at full billing. That means we've made half a million bucks in March, in addition to the million in back payment from the start of the month. 2026 agreement being finalised as we know and the 2026 block XX meeting was 'successful'. Moreover, in my opinion the farm-out negotiations and planning must be ongoing, for the simple reasonn that if they weren't the company would clearly have to RNS this news.

Add in a Sunsteppe that is clearly starting to assert itself where the money is, and one can only conclude that the company is clearly in the best position it has ever been in.

Yup, I've just said a fervent prayer for 2p ASAP.

That's right I believe Tony, but the refinery is at least a year or more away from completion.

Yes, I also got no reply when I asked about netbacks with such an elevated POO. My other query was about the date for the AGM which they also haven't answered. My working assumption now will be that this will be finalised once the FO is settled one way or t'other. No chance of a merger here to create a new entity?

Anyway, bid ticking up a bit, currently 1.28p to buy.,