Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
It is no coincidence that the Progressive report is on the homepage. It isn't to fill pixels but rather to indirectly tell us what the minimum LE price is. So the baseline is circa 25p (especially considering the recent upgrade). Of course it is then all about JP's negotiating skills (those that he tells about) for the rest of the licence. He says that this is where he "comes into his own". I have a figure in mind for the rest of the license. It is only my guess and is no better or worse than anybody else's. But if the LE is for 50p or less, then I would say that JP has spectacularly failed to negotiate the best price for us.
"JP still calls TE10 a discovery"
He probably calls it a discovery..........because it is.
As the slides say....
Longwait, the level of understanding is astounding. It is a discovery.... because they discovered gas. And plenty of it. The problem, of course, is that it is (currently) non commercial. So it is a non commercial discovery.
Do those quotes suggest a LE of 10p? Of course not.
"I understand this feedback and please be assured we have a plan. None of us want to sell out too early or too cheap"- JP "It’s hard to comment on a specific share price. On an un-risked basis, brokers and analysts have a 19-27pps value for TE-5 and further upside from exploration. Today’s share price is substantially below that, of course." - JJ "This is an exciting time for the company and our shareholders, with a clear pathway to commercialisation." - JP "You are correct that TE-10 is a gas discovery. We have acquired data that will allow us or a subsequent party to evaluate the size and potential of this discovery. Given the recent termination of operations much of this work is ongoing. It is possible that a future operator may look at TE-10 as an appraisal opportunity." - BM "It is likely the first RNS would be that of a recommended transaction by the Board, not an offer being made or negotiations being underway," JP "For sure having a non commercial discovery is better than a dry well, if that is the question." JP "The plan is to sell the business and return cash to shareholders. We would hope to have the value of TE-11 an other prospects captured in the sales price." "Our job at this stage is to maximise value for all shareholders and we are entirely focused on that. We don’t see further potential in TE10." JP "We think now is the time to sell, and the ambition is to get the value for the shareholders from TE-11 via the share price." - JJ "am very disappointed with the TE10 outcome (actually that is a bit of an understatement!). We have worked really hard to unlock the basin potential but so far we have not done that with the drillbit. My commitment is to do better for my shareholders." - JP
Davey. I got a pen and paper to take notes, but the only thing I wrote was "idiot".
Good heavens. An awful lot of shouting at buses going on here. Staggering that most of it is being done by folk who don't even hold any shares. What a terrible waste of an existence.
Looking forward to the LE :-)
I can't work it out John. And I do trust you. So could you answer the question please John? Do you think AIM is rational? TIA.
Bravotwo. You and others really need to stop talking for PI's. There are about 4000 of us and very few bother to post on this bb. I am one of many PI's I am sure whose morale is not low.
whosthebaby and babysanchez prove my point wonderfully well.
Agree SO. I bet JP rues the day he decided to become PI centric. He underestimated just how astoundingly stupid PI's are. And just how much of an expectation nature they have about them such that they demand a return on their bet.
Moroccoknows changed his username to MoroccoDontKnow.?
Blimey. A non commercial (at the moment) well is likely to effect the LE price!!!! Who'd have thunk it???
Brian gave away his thoughts with the following reply:
"We have drilled three exploration wells and made one currently non-commercial gas discovery"
"currently".
"Unbelievable..total idiots..now we are not for sale ?"
I often wonder how folk on here manage to dress themselves in the morning. Or maybe not. Sundaysun is probably wearing his socks on his head.
Looks like all of the answers are going to be targeted at the acquirer(s).
Let's not forget that JP's "noon" could mean anytime between now and Christmas.
Ciao WWW.
Good question, but not sure what the intention of the question is. Certainly won't help us to understand the current situation. And what will make you feel better? If he says "no" or "yes"?