Member Info for Proquo

Agreed Investor. It seems like better 3D seismic is a must now.

No surprise PetroChina trying to screw us again with spurious contractual tweaks. I ask again, what has Buck been doing since last October 'cos I'm buggered if I can work it out.

You're right Horsers - money has already been raised for Gobi specifically.,

The question has to be asked - what exactly has Buck been doing for the last eight months? It's basically where we were last October. No wonder they put this out after the deadline for questions to the AGM.

No idea what you're talking about Krok. My average here is 1.1p. My average in MAFL is 7.5p.

Reading age still in single figures Krok? You've just embarrassed yourself my old china. Again.

She might have previously sold off another holding in her ISA and used that cash perhaps? I live overseas and tbh I almost miss being able to trade tax-free in my ISA more than I miss my family!

Moreover, the company has told numerous interlocutors via replies to direct enquiries that they have a policy of radio silence whilst negotiations are ongoing both in order to enhance negotiation positioning and as just the professional way to behave. These emails have been reposted several times.

Exactly Velo. All this doom-mongering about having a wait for news is just FUD. Have a look at MAFL to get a bit of perspective. Apart from director dealings and results notifications there hasn't been a meaningful RNS there for over a year that I can recall - nothing on new investments, disposals etc. The CEO doesn't feel the need to tell us holders much, the occasional Proactive interview. Nobody really bothers with the AGM. Now look at MAFL's recent price action. I've held for ten years and it's finally come good and £1.50p is pretty much nailed on in the next 3-5 years. My average is 7.5p. Investors there just really let the CEO crack on and months and years pass without much news. Numpties here trying to say a few months' silence must signal an impending catastrophe are naive at best and utterly dishonest at worst. Most are the latter.

Endless updates on sharedealings, consolidation, financial stuff but not much on what they're actually doing to progress the projects on the ground, so to speak.

Endless updates on sharedealings, consolidation, financial stuff but not much on what they're actually doing to progress the projects on the ground, so to speak.

All we know is that the farm-out negotiations are ongoing as we haven't been told otherwise. The lack of any update of any kind for the last few months point to this being the case also. The company have told us many times that they have a policy of radio silence during these negotiations. Given that such discussions would clearly revolve around H2, Gobi, Gazelle etc then it is no surprise that we have had n info on these. Nothing is sorted until everything is sorted.

Unfortunately the numerous trolls love a vacuum and seek to fill it with meaningless verbiage, disinformation, scare posts and general FUD. Shameful behaviour but shamelessness is the real pandemic in the world now.

Anyway, we should get a bit of clarity tomorrow if only to tell us that the negotiations are ongoing. I'll be fine with that.

Only if you see producing some AI generated pictures as progress. Not much more there.

Agreed Abzzba. If nothing else the threat to counterparties that we can go it alone given the huge increases in PoO must have concentrated a few minds in the negotiations. As you say, quite easy to see two or more wells onstream this season from existing funds, notwithstanding any cash windfall from Sunsteppe and at what point would RBL come in to play then? Best position to be in, in any negotiation, is to be able to walk away. Exciting times ahead in my view.

Lovely.

Done walking for the day, one more day to Finisterra - the end of the Earth!

Last WN updates was over three months ago. Let's have an update as to where we're at now that all the finance etc is sorted - timelines, key milestones to look out for, contracts signed etc. Come on, get on with it.

Come on, get on with it!,

Thanks Gadgie. I'm still walking, from Santiago to Finisterra now. Just stopped for my breakfast! Getting warm especially in the afternoons but probably a bit cooler than in Blighty or France, as Galicia tends to be. No idea why anyone would go to southern Spain now. Northern Spain is absolutely stunning.

The lack of info about anything can only mean that the farm-out is still being worked through. I cannot see any other explanation that fits. If the talks had ended without a deal we would have heard already and the company would've been able to issue an operational update as it has done regularly even through winter. The lack of anything, radio silence as I put it, clearly points to only certain possible conclusions therefore. Imo it either means that other bidders came in late in the game, or a sell-off is being worked through or, most likely, that the war starting in February absolutely changed the dynamics of everything and gave Buck more chips to play with. He may well have put the price up. Moreover, these things always take a great deal of time and one suspects it's all complicated by having to deal with the Mongolian authorities who have proved themselves to be floundering on occasions.

I reiterate my main point, which I believe is incontrovertible; the lack of any news about anything at all can only really be credibly explained by the ongoing nature of negotiations which, actually, is what the company has said repeatedly in response to requests for info from various interlocutors. In short, the lack of news can only realistically point to one conclusion.

Long way to go for Malcy to get his £5 target, moving by a penny here or there at a time! Looks like a consolidation has screwed this, as they always seem to.

Totally - these little resource outfits spend all their energy raising cash and then take forever to actually progress anything tangible. In the meantime the cash mysteriously dwindles and drains into the sand. Rinse and repeat. They have talked the talk here big time, so let's see them walking the walk - pronto.

Then crack on with getting the extension. They raised big money to progress WN so crack on with whatever they've got in mind to spend the money on to progress the company. I'm sure our big, high-profile investors are expecting things to start happening.