Member Info for SneakySimon

Yawn - I heard all this at the start of the year "he won't place, HE WON'T PLACE" - then he placed. Weird, the people who came at me arguing he won't / we have lots of money / he will get a load etc etc didn't say much once it was done.

Its on the table, its a possibility and unless you are somehow in the know, you can't deny it could happen. I am not saying it will but PXEN have a lot of expensive drills coming and they need funding somehow. He has put, in the recent RNS the following:

" through a combination of farm-downs, debt-finance, internal resources and, as appropriate, equity funding. All financing options are being advanced "

So maybe DugWalker you have a better reason for why the SP is down 16% in the last month, chart looking awful and pointing towards going into the 2p's, be my guest?

PXEN recieves 14,47% of production income until its initial investment of £8m is repaid (+10% interest)

Last RNS confirmed the daily output:

Gross field output:

190,000 scm/day × 30 days ≈ 5.7 million scm/month (≈200 MMscf/month).

PXEN share:

27,100 scm/day × 30 days ≈ 813,000 scm/month (≈30 MMscf/month).

So 813,000 scm/month works out at @£243k per month.........so that will take a few years to payback.

In the August 2024 RNS, they estimated the cost of 2025 / 2026 would be £4.84. Same RNS they estimated that the production would knock £2.7m from that based on a 31 gas price. Obvioulsy dates have moved but also we have had several months of no production.

Then add that of the other 2 drills, one isn't producing and the money we were meant to be recieving from the insurance we are not getting and Po Valley is making good progress.

Major questions on funding.

Viura I suspect will be some kind of loan facility that Heyco will broker

Selva similarly Po Valley will broker some kind of debt facility

Tarba - I assume a farm out

But, until confirmed and with a cash burn of £100k per month and Mark's apparent not bothering about shareholders / share price who knows - I can't imagine all the above is cheap to push through (legal costs etc) - sit and wait but until clarity, the elephant in the room is how the costs are covered.

If he came out and sbasicially said no placing and all drills are funded, the SP would definatly rise but until that day, people will be cautious to buy.....

We win’t get the £8m back for some time, definately beyond the the time when they need the money.

All I can think is that Mark is not esp caring of shareholders and with the future drills funding not clarified, its risk off.

Also some time before any news released so chance to make money elsewhere?

But it dows baffle the SP movement - even those more in the know than me have called this wrong all year so who knows!

Let me know when the Santa Rally begins!

Best present would be a change of management who actually promote the business and give a fig about the shareholder.......

Agreed - by my reckoning we are getting per month:

- Viura £55k

- Selva: £270k

- El Rom: £28k

Obv El Rom has transformer issues but all in all, good income stream per month...........

I thought it read well until near the end he sticks the "through a combination of farm-downs, debt-finance, internal resources and, as appropriate, equity funding". Just like when he mentioned it at the start of 2025, it held people back from investing.

Until clarity, people ar to risk investing then losing potentially 20% when he does a placing! I know its an investment business and what AIM is for but Iand many others would rather get in at thlowest and not see another large drop!

I love the fact that as the volume increases today, the spread is slowly getting higher. Up to 21% from 14% earlier

The cherry on top of that RNS was that loans piece for Viura.....

How much did you buy them for if you don’t mind me asking? No trade has been over 3.25 yet today and a spread of 26% 😂

The rise isn’t real - if you look at the trades, people are buying at 3.20 and selling 3.10 so real SP is 3.15 which is actually a drop again.

The issue being that they have several million pounds worth of drills this year.

They are earning now between 0.5m and 1m per month, thoigh the Viura element is unclear is now much they are getting and how much is retained by Heyco

They spend £217k per month operations cost

Mid year 2025 they had £147k cash

I think the drills next year will cost at least £6m so that would give them a multi-million shortfall and as we have have seen twice this year, its not always straightforward.

I guess it comes down to the elephant in the room - the funding for the drills.

2025 hasn't been great - Viura down for several months

Tarba not fully functional due to a transformer and not even getting the funding for the

Large questions about funding. A lot of loud voices are saying it will be a farm out or buy in from another company. I would assume that is the case but lets face it, Mark is not always working in the shareholders interest and may see a placing as an 'easy way out' - many at the start of the year rejected the idea of a

Until he is clear about the drill funding (think Po Valley CEO clearly articulating current financial position and plans) then I think people will be wary to jump in to the share.......

Chart wise, looks like the bottom for this wave. Its a pretty neat downward trend - the next rise should go back up to 4.2 - if it drops again, looks like we could see 3p.

The SP was lower anyway, the fact you could buy below the share price and the spread at time was 17%.

SP down 53% in the year

Po Valley up 51% in the year

Time for Routh and the Chairmen to exit stage left

Wow, 12% down on IG - looks like we could be heading towards the 2p's at this rate.......

SP is going crazy 😂😂😂

Still more selling than buying - one day we may get to a decent price!!

I was pointing out that that money is ‘ring fenced’ from the wider PXEN money.

Agreed on what was said (though to be precise he suggested a number of ways the drill could be funded including the P one!).

Will have to wait and see - assets looking great, just the CEO can not always act in the shareholders interest always……

I do wish when PXEN say something such as the transformer issue the financial impact so you can quantify it!

Viura revenue is held by Heyco and is to be used for the drilling there…..