Member Info for Proquo

Agreed Abzzba, on all three counts. Pretty impressive that our very first well matches up to the best-performing wells on the neighbour's patch.

Still, they're more entertaining than your bog-standards trolls who have infested this board for ages; those I just block off.

I must admit I take a strange pleasure from reading the outraged comments of our Armchair CEO's on here. I always have a little chuckle at the pomposity of posters who do nothing but suggest how they would do things differently.

I agree. A good update, absolute fake news trying to make out that refurbishing a second hand bit of kit is a problem. Nice and steady, the market will catch up in its own time. I can wait as I'm not going anywhere. Today was just the first salvo in a news rich period.

Sunsteppe is progressing rapidly. That's the exciting bit for me, and always has been.

Yes, it's a solid update. Heron 1 seems rock-solid on bopd and the reservoir checks and testing seem reassuring. Excellent

Yes, why go to the trouble of refurbishing and installing a beam-pump if it was just for 640 barrels of fluids?

*explodes!!

Keep ticking over steadily at 150bopd, a good rate for the field and then the farm-in partner brings I the big guns to pepper the field with wells in short order. We then keep a chunk of the net income from each well, whilst moving on to explore the new block. Rinse and repeat. And then Sunsteppe explires!

Agreed Manx - the business model is just as you say, with both oil and renewables parts of the company. The very tough miles covered for Heron permitting, sales contracts, creating new regulatory frameworks fit for new production, smooth production and distribution logistics, all this work will really pay off as we explore new new fields. Heron is the pathfinder for all that follows.

Very much a sense of things starting to move - partnering, resolving the tax issue, hopefully new production coming onstream, Sunsteppe starting to make its presence felt. Going to be plenty of newsflow coming our way.

That withheld cash has built up to a tidy sum. It will be a cracking boost to our coffers once it arrives. Sounds like it's nearly resolved. Brilliant timing if it gets sorted to coincide with bringing new production onstream. The farm-in party will want to see it resolved before committing to anything.

BTW nice touch to mention that all H1 work crew are local Mongolian. Having seen the Chinese in action resource-stripping in Africa, I can say that they tend to import Chinese rather than local labour.

A lot of emphasis on how well Sunsteppe is doing too. Growing into something significant quite quickly.

Thanks Abzzba. Got to be a chance of bringing all 3 onstream!

*get their averages down.

I think part of the reason they are going back to Gobi and Gazelle is that they don't fully trust the results from first time around. They stated explicitly in the RNS that they would be supervising DQE's activities closely. I'm pleased about that as it addresses a concern I'd raised several times with the company, and Buck was asked about the issue of underhand tactics in the recent presentation. The main thing is that we have stable income and most importantly, no debt to service. Buck has trimmed costs, connecting to the grid raises our netbacks a bit. I think the company is in a position to grow by small increments until bigger developments come in such as partnering, RBL, sales from Sunsteppe. As Malcy said, there's plenty of upside to come from here. I've got my average down to 1.12p, so any good news should see me OK. I certainly hope all long-term holders have taken the opportunity to get there av

Thanks for the info Abzzba. Useful reading.

Malcy said the update from H2 didn't make good reading.

Well at least POO is going up nicely.

I'm not sure what is going on, it could be something to offset the paycut. Buck took a two thirds cut, roughly speaking and 13.5 million shares is pretty much exactly two thirds of his shareholding. Not precisely but uncomfortably close. There's something going on there. Outside of Petrovis who else has those sort of numbers of shares? My only other thought is that it might be part of some sort of complicated compensatory scheme for the paycut that I don't understand. Buck was very vague about how to offset the paycut in the presentation.