Member Info for Proquo

Certainly a real vote of confidence getting such 'safe' credit. Should've risen more than it did on that news. Doing my background here and tempted to weigh in. Does anyone have when in November the permitting hearing is scheduled for?

Having had an chastening experience over at Petro Matad wrt permitting - it took years for the exploitation licence to be issued - I'm a bit twitchy about it here. How much of a formality do people think it will be? Obviously there's a world of difference from Mongolia.

I think the great, and unexpected, result at Gazelle might well have changed the dynamics of the farm-out process. Certainly it allows us to play a bit of hardball in negotiations. H2 is now a bonus ball if it comes in - Gazelle has taken the pressure off to a large extent. Even if they deem it non-commercial it can still get put to good use as an injector well to help H1 and future wells in terms of maintaining pressure. I'd call that a win-win.

I'm not sure this could justify £100 mill MCAP just yet, but for sure £8mill is way under.

Buck said Gazelle would be completed by the end of this month. Looking good for the update anytime from now.

If/when the Exploitation Licence is sorted, this should really fly. Also, I hope he's actively looking for a JV partner. It's clearly what this project needs. He sort of said so himself. Certainly the company would look more tempting to bigger fish once the EL is sorted.

This looks undervalued especially after last week's update.

I made my feelings known to the company about the last raise in no uncertain terms but it is becoming clear that every penny raised is being put to accretive purposes at Heron, Gazelle and Sunsteppe. Our share count is still manageable for such a company at this point in its development and tbh the sudden drop to sub .8p allowed me to average down in a big way. As Malcy said at the time, the raise was at a horrible price but it kept us in the game. Gazelle was the first reward for this pain. I expect more to follow. GLA.

Great and important find, Gadgie. Many thanks for sharing that.

Agreed Thorn. The Gazelle result changed the whole dynamics of this share. H2 is now just a big fat bonus if it comes in but is not absolutely crucial. Moreover, the flow rates and enthusiasm of the Gazeloe 1 well simply must have impacted the farm-out talks. When the talks started they were negotiating around one proven well at 150-160 bopd. Now it's two wells minimum. That puts much more oomph into our negotiating position as we have shown we can walk away and develop even in a low POO environment. If there's a windfall from Sunsteppe with more in the pipeline then this really will fly. Imagine if our running costs are covered by Sunsteppe-related income and all oil revenues become pure profit!

I agree re a nice bit of FOMO this afternoon. Very high chance of a RNS relating to Gazelle and H2 dropping early next week. Somewill take their profits from this week for sure, many others will buy in looking for a big surge Monday morning. We'll see.

Keeping an eye on Brent, just pushed passed $66. Worth remembering that each dollar on the price represents $60k per year based on our current 150-160bopd.

No idea why my last post lost its capitals!

and i totally agree about sunsteppe. it seems to be moving at a great pace. a nice windfall from there during the winter sometime would keep the ****les warm!

No idea why anyone thinks I've topsliced. I'm in good profit here but it's chicken-feed compared to what might be coming our way. I've said for a while that little is priced in at these levels so I'm happy to wait for it to play out.

Just a bit of idle speculation in the hiatus between updates, but I'm just wondering aloud whether the fantastic and unexpected results from Gazelle flipped the farm out talks on their head, especially if H2 comes in with a bit of enthusiasm too. Three pumping wells proves the field beyond doubt, and the whole play is largely de-risked so I wonder if a sale of Heron suddenly hoves into view. Or maybe another of the three original entities came back to the table once they saw the update re Gazelle? Certainly the sudden and unexpected advent of a 'gusher' must have changed the dynamics of any discussions considerably. So a sale maybe? I'm just recalling Buck's very positive answer to a question in a presentation about a sale when he said 'Sure, if the price is right'. Again, that Gazelle result must've have some effect on those looking to weigh in.

Hahaha

Agreed and hopefully we follow a similar trajectory!

Brent pushing on to $66.

Yep, Brent up to near 65 bucks.