Mystic you are indeed going to need amazing results if you want 1p or more. Currently you have no idea of the size of the field in your area, no 3d the list goes on. You are also out of money again and will need to raise more money to keep the lights on, everyone will be aware of that. I think you are in a dream world if you think you are going up by 200%.
Bit cheeky of you Whoops to tell people to move on. I have a large investment here and have been holding it now for over 4 years. It's stating the obvious that there will be no drilling until the money is raised as they don't have enough, we are discussing regardless of the vender financing initiative if it's worth raising some money to drill this summer. It will not be long until we will need to raise money to pay the bills anyhow.
Onceabroker they are not brilliant at these webinars and we always get a hit afterwards to the SP. To much hopping around between presenters and too much in the weeds detail. Just needs one person presenting, to lead investors by the hand highlighting the important bits. The tech detail can be given separately to the retail investors and oil companies, the average AIM investor is just looking for the good bits in clear and simple language. Difficult to please everybody but as you stated 'Lead the market by the hand'.
Olderwiser I honestly get all that you say, but it has now been 2.5 years since we were last out at Kodiak where I believe we need to show we can get it out of the ground in good amounts. That concrete mistake has cost us dearly.
The BOD constantly bang on about being in the right location by the road and pipeline yet to me we do not seem to making the most of it. Raising 20M to have drilled this summer would have been easy and quite meaningless in terms of the number of shares in issue.
You raise good points Olderwiser but BOD need to explain in simple language what that all means to PI and they didn't. Great we have tons of oil in Kodiak, but then in the next breath no drilling this summer and drilling this winter waiting on finance. People on AIM are after the quick buck and all this is looking years away to them. Thus its important to keep things happening on the ground eg drills. The next reports due might produce a blip again if there is more oil. To be frank we have more than enough oil, that's not the problem. We need to prove we can get it out of the ground in large amounts and earn some money. We now have a load of people on the books who are doing what at the moment?
Yes I am frustrated, not with the SP as I am in for the long run, but we are inching forward when we have the ability to drill year round.
Nice one Mystic, just think though, all the money PANR are having to raise will be the same for you guys. Just the small difference that we have 1bn shares in issue and you have 25bn. You have enough shares in issue to give every man/woman/child in the world 3 88e shares. By the time you are ready to produce you will be up at 60bn shares. .
My own opinion is that I wish they got on and just did a raise, raise the money for the tap and another couple of drills and get the whole thing moving. Does not stop you seeking vendor finance but gets you front foot forward. Not drilling this summer means it will be over two years since we spud a well. The whole point of being next to the road and being able to drill in the summer is being wasted.
There is more than enough oil/gas to pay us all off very nicely so another 400M shares will only be a small dent.
If you have any sort of knowledge about investing in an AIM company then you absolutely had to know that a gain of over 30% was extremely unlikely to hold up. I am a long term holder (years) and even I sold some at 40p and then bought back this morning thus gaining some more shares. Traders were always going to bring this down after a 30% gain. Our shorter will in the near future have to start buying back its 14M shares so this will rise again. Cash needed over the next few years is 120M after that we will be self financing through selling oil. How they get that money is up for grabs but they are determined to not dilute us too much.
We will see in the next couple of months if they can put together the finance for the project. But to me its all icing on the top of the cake 1,2Bn barrels of producible oil, just in the one field will produce the $5 barrel in the ground. If you are wrong (which you mostly are) then the gas and CO2 storage will make PANR a very big company worth a lot of money.
Davidwk they need to do a great deal more than showing one well flowing. They will need to show the extent of the field eg more wells and loads more tech detail before anybody will buy. Having PANR on the same field will help but a lot more money to be spent.
Hopefully Sirmark although I am keeping my expectations low so as not to be disappointed if our amount of oil does not double etc. Expectation can get too high and then we all get miserable when they are not met. Seen it too many times.
Very interesting how gas could become a major financial factor for this company. Only a few months ago disposal of gas produced when producing oil was going to cost the company millions to reinject. Now with any luck we will be providing Alaska/Japan/Korea/China with gas, saving on reinjection and earning from selling the gas. If it's announced that a pipeline is going to be built, this SP will go bonkers. I will be very surprised if one of the big oil/gas companies does not make a substantial offer for us.