Member Info for Proquo

Maybe they've got to the point of talking cash?

Just a minor point - I think in today's RNS it's the first time that the company has used the term 'farm -in' for the type of partnering we're looking for. Is this significant? Maybe I'm wrong and it's not the first time or I'm reading something into nothing. But it's not a JV which is how it's often referred to on here.

Tbh RealPro, I've flipped a bit on the sale/JV scenarios. Initially I thought the sale was most likely but I think a JV is the most likely outcome. I'm ok with that as I think the asset will prove to be a great foundation long-term for the company whereas a sale now would be at a low-ball relative to actual value. We'll see. Imo Petrovis are in it for long-term assets too and I'm sure Buck is listening to them.

Anyone seen the 'imminent' raise the stockbashers have been scaremongering about for months now? Any of them turned up yet to admit they were just predicting it on the basis of nothing. In fact, looking back they've got everything wrong,wrong, wrong. They said the permit wouldn't come. They said we'd never get to production. They said the agreement with the Chinese would never come. They said we'd never get income. Above all, they said we had no cash left.

Literally, wrong on everything.

I thought it was a good line, Realpro! I always felt Doc and Adw were a very close tag team. I think we can call them the Chuckle Brothers from here on.

Actually, rereading and digesting the report a bit more, my general impression is of a highly professional outfit emerging; drills done on time and budget, no environmental or personnel accidents, a very high rating in these regards from the authorities, real investment in the local community including helping locals in the super freezing weather phenomenon, building play and sports facilities for local kids, employing local people where possible, establishing excellent working relationships with government and the Chinese, surrendering blocks with all necessary works completed to avoid further costs, securing block VII, described as their 'top-rated' block, Sunsteppe moving quickly and with a growing national and international profile, taking time with Gobi and H2 to establish clear data. Money in the bank, income and $1.5 million from Petrovis if we need it. Very impressive as far as I'm concerned.

Agreed Thorn. I'm here for the long run. I've said all along that it's reassuring we don't have any debt. The MM's will reverse the trend here eventually. Intriguing that it appears we've re-entered H2 and the chance of it producing seems to be a possibility. That would be great.

Anyway, looks ready to tick up a bit more.

Sounds about right.

Tbh anyone who actually sold on open because they read the RNS as negative, or more likely, got spooked by the sudden blizzard of stockbashers' posts, probably shouldn't be investing, certainly not on AIM.

Yes Investor. MM manipulation is as old as the hills. This morning was just a classic tree-shake, take out a few stops. It's exactly why I rarely use stops.

Yup. They always try to shake few out early doors on an RNS day, hence the initial tsunami of greenboxes. Nice to see a bit of blue anyway.

I suspect Adw and Doc are constantly having a mutual handshandy, maybe with a bit of rimming and butt-grubbing.

Ticking up. Bid at 1.326p

Yes Hamm, the numbers look quite good. I'm hoping the tax situation gets sorted soon. If they manage to get H2 onstream, even 50bopd would really help us.

Where's the bad news? Literally nothing we didn't know apart from the fact they are looking at H2 as a possible producer still. Oh, and our cash position is looking OK to me. Topped up with $810000 and with about $400k to come for May and June, plus about $250k held back. Not bad at all.

OVER 45000 barrels, to be accurate.

Other than that, nothing we didn't already know.

Yes, that stood out to me Abzzba. They haven't given up on H2. Ties in with Master's satellite images. Maybe it looked more promising on re-entry and we know it flowed at 30bopd first time around.

Where do you see it going, The-Lockie?