The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Thanks The _Chain, but I have re-read the 25 August RNS which makes mention of the pipeline but does not indicate any permits being sought. You are usually accurate in your assertions and I would be grateful if you would tell me where exactly you came by the information.
And,by the way, I was also disappointed that there was no mention of any activity related to the larger bore Dominion pipeline. Go well.
Thanks Quadrum, but my intention was not "to list negatives" but to indicate the communications failuresof the company. Yes,the positives you mention wre good but they certainly haven't had a positive affect on the share price over the past year. The market will only take notice of ZPHR when it begins to pump and sell serious quantities of oill from Paradox. That they have manifestly failed to do over thepast year and a half .Allied to that we investors have received less communication. That's not good! And there I rest my case .
Ref. the 7 June RNS. :
1. It was 8 months ago and no worthwhile progress with selling oil from 16-2 has been made since then.
2. The crypto mining facility itmentions has never been built.
3. The amount of oil trucked to the refining facillity in Salt Lake City is scarcely more thamn a few days production from Paradox.
4. We still have no timescale for completion, (or even srart up), of the Dominion pipeline.
Not very impressive! It's time the company communicated in some recent detail with it's investors!
Your Saturday 19.30 post sums up the situation very well. By mid 2022 the company was well aware that the infrastructure to produce and sell oil from State 16-2 did not exist and that it would not be present before the middle of 2023,( at least), but CH never made that information available to the shareholders.
Like you I am heavily invested here, (still), but I am also very disappointed with the company's failure to communicate fully and, (in effect), truthfully. Now,as shareholders, we are surely entitled to a clear statement of the plans and the timescales for the Paradox wells.
Has anyone got a plausibile explanation for the almost 50% fall in this stock over the past couple of weeks despite the clear preponderance of buys over sells as reported bythe MM's.
And please don't say "It's the trraders" because that is not a credible explanation in this case.
Was it just heavily over valued and thus overpriced?
Thanks Stiffybristol, but it's a bit more subtle (or less so), than a sale of some of the 660K of the final tranche of the warrants. A few million shares have been traded this morning and there has hardly been a trade of over 100k. If one follows the logic of your supply and demand argument then the sp would have risen. Also there was hardly a trade above 100k, and have you noticed the number of trades for more or less the same number that were traded at almost the same time.
Two comments:
It isn't that the current Spanish government dislikes oil and gas. It is simply that Spain is a hyper bureaucratic country. So waiting on licences there is inevitably time consuming and nit picking.Which party is in power tends to be irrelevant.
Also I am a bit baffled as to why the sp here falls fairly massively despite a preponderance of buys.
to put a contrary point of view, Seekinvalue. But if you read the RNS for 8 December 2021 you will see that it attributes the rate constrained productioon on well 16-2 to "salt deposition in the well bore", which will be mitigated " when the wells completion equipment is installed". It also says that 2100boepd will "be possible" from the well.Apparently the second problem with producing from the well relates to the lack of an adequate pipeline to transport the gas from the well and to obviate the necessity for flaring as the well is being produced.
I have a great deal of sympathy for the point of view that suggests that over the past year the company has been less than satisfactory in keepinng to it's time lines.I'm solely interested in the sp and that has been hampered by the inability to pump oil from the company's own drilled wells, due to the factors listed above.
So there you have it. I have sympsthy for the irritation you express but I don't subscribe to your reasoning.