Member Info for Proquo

That's about right Thorn.

That's pretty much my view Thorn. Also, Buck knows how the sale/JV talks are progressing or not and would have had an idea at the time of the AGM. The fact that he made that point about living within our means, as you highlight, suggests to me that he thinks that we could achieve a good outcome but that it will take time.

That's just my opinion of course. There are alternative views. But make your own mind up.

It is clear that Buck is doing all he can to avoid a raise otherwise it would've happened by now. The stockbashers have to agree with this point as they have been arguing for more than six months that raise wad imminent and inevitable. It's the only possible conclusion to their own premises. The fact that it hasn't happened in all this time of dire warnings has to indicate that Buck is trying all he can to avoid further dilution, bearing in mind that he would dilute his and Petrovis holdings, as well as all LTH's in doing so. He made a point at the AGM of recognising the patience and frustrations of the LTH's.

My view is that a raise will only happen once ALL other avenues and opportunities have been exhausted; so try to sell Heron first; then try to secure a JV on good terms with already interested parties; try to increase H1 BOPD; try to bring Gobi and Gazelle onstream at low cost and in short order; activate the Petrovis loan; if we increase bopd try to secure RBL. The company can tick over as things are without raising until the end of the year on current cash and bopd. A lot can happen before then. Again, I'll be amazed if the Chinese aren't in for a purchase so until we hear one way or another about this or JV then I'm not expecting a raise any time soon.

I have been forwarding defamatory statements from this board to the company for several months now although I've had no reply yet. A simple point of law - the human right to freedom of speech is not the same as being able to say whatever the hell you like. All rights are circumscribed by laws.

There was certainly more enthusiasm about the possibilities at Gobi in this last update.

I'm still leaning towards a sale - Mike Buck's 'only if the price is right' response to the question of a sale at the AGM suggested to me that the question had been asked by at least one 'entity'.

Yes, there's every possibility that the payment hitch is part of abit of gameplaying by the Chinese as part of wider JV negotiations.

The company has made the quantum leap from explorer to producer. Go and research the number of small oilers globally who never actually make that leap. I understand the frustration but it's really important to bear the actual facts and context in mind. The progress over the last eight months has been huge. This is undeniable. Blimey, you all need to remember the dark days of the video of the local police tearing down the perimeter fence around the H1 wellhead; then Covid; then the ongoing permit stalemate.

Frustration yes, but let's keep a historical perspective - this company has recently taken massive steps forward.

BTW, these results are only up to the end of March this year. Hence, the money from the Luca profit-taking would not yet be reflected in this latest quarterly, but should show up on the next one. Or am I missing something?

Yes, that's quite exciting. A sale at a good price could be massive for us.

Spot on Mullins. Don't react to the stockbashers' provocations and goading. They get pleasure from it. In the greenbox is the best way.

Yes, given that any one of a number of possible positive RNS could drop this week, then any ensuing bounce will be substantial. This is way overdone.

Investor, this probably explains, at least in part, why we have a particularly bad infestation of stockbashers here, and for so long too.

Worth looking at the Sunsteppe arm of the business too RealPro. They have confidentiality agreements in place with multiple potential investors and are involved on overseas intergovernmental trips. Also, the Mongolian government is pushing pretty hard on renewables at a policy level. Mike Buck sounded pretty enthused about it at the AGM.

Morning. Yes, the Gobi well is looking increasingly promising with planned works described as pretty low cost. One of the main reassuring factors here is that the company has got to production without any debt and with a manageable number of shares. Sure, a delay with payment but that's minor in the grand scheme. For me, it has its lowest risk-profile since I started following it about 8 years ago. Your choice of course RealPro and DYOR but for an AIM oiler it's pretty good. All IMO of course.

No point engaging with the brain-dead Velociraptor.

Or greenbox it. Even better. That human dung will enrich the compost no end. Ditto ADW. Will add acidity also.

Correct TBT. You've only lost money if you've sold although wrt that Doc character, I would treat every single word of every single post they make as a lie, a deception or an attempt to spread FUD. Best way.

Onwards!

Lovely.

Looks like you've been spot on in your analysis about Friday's 'liquidity event' Investor. Good work.