Member Info for Stiffybristol

Nick, yes the company in this current year look set to make around £6M. This is based on the income from Spain at approx £2m profit plus about £5m from Italy based on the 1 well. Prospex are an investment company so the run costs are low approx £1m. the upside is another 14 wells can be drilled, one well has an estimate in excess of 10 times the current volume of Poder (1st It Well) Longevity of wells is also a bit unknown but 15 years seems the guesstimate. Three more drilled wells in both Italy and Spain (cap to triple) should take prospective earnings to £20m in the future based on current prices. So at 17M Mk cap you do the sums at P/E of 8 , £160,000 divided by 300m shares , equals 53p per share. They also have Tessorillo, which might be worth another 50p-£1 per share. At 5.5p currently they are only a quarter of what they were 7 months ago yet the company is better, stronger and has a cash position of about £4M by my adding up which increases about £10,000 every day.

Tip sheet today?

With Tesorillo we might get back to 7p!!!!

Serious undervalued but its only us buying.

Sadly whilst its good to convert from the companies point of view too many people look at the shares being worth 4.25p. The real truth we know. Prospex has never been better (albiet gas prices were higher). The company is stronger at todays 6.25p than when it hit 20p. Different people have criteria for how they invest, quite a lot love the Directors dealing in the market. A 100,000 buy/RNS shows to the world that THE DIRECTOR KNOWS that the shares are too cheap, obviously better if they can mop up more, great signals. It is the very best way to move the share price outside of 'special news'. Mark Routh said he preferred to buy giving the company money rather than another shareholder in the latest podcast. Understandable but I know if I had money hanging around I would be adding at this price and to be honest I have added £120,000 since the price drop believing that 12p was too much.11p was too much, etc etc.

None of those shares sold are from the CLN.

Fundamentals are: The company is in the best position it has ever been with pumping gas in two places. Prospects have not changed for the future and still rosey. The share price is a little more than a quarter it's high. DYOR.

Things working against the company are outside it's control. I think this share will be stale for a while, I think there will be multiple sellers selling into any rise. It will probably take a big hike one day with an incoming buyer looking at a sizeable buy. Astonished the directors have not bought in the market.

I reckon BOD will announce options at 8p

£80,000 run cost

Buy out price would obviously be a willing price that the two parties think is fair and accurate.

At the moment I think 25p based on known actuals of producers plus other permits/ Italy and Spain but zero for Tessorillo.

If the other Selva fields get started and production starts and increases volume then probably the real value is £1 so the bid might be around 50p when drilling starts and then are some more crystalised knowns..

If the permit gets the tick for Tessorillo you can add a £1. That would be worth £500M and Prospex can convert to 49.9 for I think £1.75M.

Prospex has good management and links with what was Warrego....Gina looks the ideal suitor but at these low levels I am surprised she has not made some market purchases.

That was all said last time and then another TR1 appeared. It was Aiden. He is now Under 3% and the selling has continued, who else has big volumes? Between 6 and 7 million shares in big blocks have been disposed of since he had 8.5M. Anyway how are your toys and pram?

Almost every holder above 200,000 shares is known in the Telegram group. Aidan has about a 1,500,000 left by my accounting and primarily is the only seller though former directors with options may have played a part earlier. The shares are cheap because of the 12 or so known assets with the fields in Italy and Spain that each can provide a measured £7M profit per year and a further potential of £25M per year. Tessorillo could produce £25M per year but is yet to be permitted and may not get the green light. So potentially a £20-£50M per year profit which conservatively should be worth a Mk cap of £100M - £250M but thats in the future perhaps 3 years time, add in solar too.

Looking at now and a 7M profit at a P/E of 10 ie 10% the company is worth 70M mk cp which equates to 25p per share without anything in the price for the other wells all of which have indications from QCP that they can deliver at multiple quantities of the current wells. So based on the above facts, above prospects plus in the bank circa £2M, I see the company in a very different light to you and very cheap at 8.5p to buy. I added around 800,000 shares on the fallback like many as I think the company is very safe, a producer, with cash. I don't understand your reason to short and suggest at 8.5p you won't get the much cheaper and are risking a 50% HIKE TO 12p which I think could happen fairly quickly that the big seller has a zero holding.

There have been zero director sales. They have to be disclosed. The TR1 was a private shareholder that a large holding but just need to raise cash for other commitments.

Strangely first gas is not price sensitive information. RNS disclosure has already updated the various positions. The position is 'any day'. I think the directors or anyone in close contact could now buy post final results. This may be happening already, I am not sure how many days they have to make public from their first buy.

Hope we see the Directors start to mop up the cheap stock now they allowed;

Directors buying is a strong signal to the world.

6 million divided by 12. There are 12 months in a year. They have the same sort of income from both producers. Yeah I am quite near Tessorillo at the moment.

Well I am committed to Prospex. I have been in for three years and added again this morning. I think they are half price at 10p so I like buying things at half price. I think if Tessorillo gets approved and the other wells in Spain and Italy get the permits (the main issues have already been met) then Prospex could be a £1 a share. However I would expect it to be bought out by another when its a producer with other permits. Prospex might go the other way and go after other companies with 'prospects', so might acquire, merge and become a mid size company by itself.

Prospex is in funds so there should be no need. The company will be generating around £500,000 profit per month as soon as Italy commences.

Well I said reckon. He still has around 4,000,000 to sell by my estimate. He has issued TR1s but no longer needs to inform anyone sub 3.% which he did with the last RNS where he decreased from 17M to about 8.5M, there has been big volume selling since last TR1. Most other big owners of shares are known within the Telegram group, so a 500,000 sale is likely to come from a known holder. With the good news and low price why would anyone be selling at half price. With that in mind Aiden has been selling because he has to support his other business, think he sdaid himself he did not want to get out of Prospex but needs must. I mightknownuffin though.

I reckon Aiden has a sell note out for a big block today, he might even take himself clean today. That is whats holding the price. Soon as these are gone the MM will have no cheap stock, it will just be the recent buyers that trade, should go to 12-13p before a stall.

He heard you and popped half a million out. I reckon he has a little over 5,000,000 now