Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
@KLD - Surely if anyone is invested should be buying the story? Otherwise, you may as well not be invested.
Clearly undervalued and a perfect time to invest IMO and average down, Trafigura wont have come in to lose money.
Totally agree here DRichi ref the business. We are very well set to progress and im sure share trading will start to settle and head back up now the formalities are out of the way. Looking forward to see how the relationship with Trafigura progresses.
Whilst i sit here on a sizable loss, I'm invested in a solid company who despite the worlds problems right now with Oil and CV19 is still making money. The share price is crazy and I will be picking a few more up - wont be down here for long IMO.
that was end 2018 and I referred to the available facility. Below from the RNS
Following the completion of the Proposals:
(i) the Company's third-party financial debt (excluding amounts owed to IYA) will only be US$3.7 million of which US$2.3 million is repayable in 12 months;
(ii) The debt to IYA would be similarly reduced to a maximum of US$12.1 million, representing a 33% reduction since the start of the year.
So all third party debt (unflexible debt) will be extinguished and were left with unsecured Levine debt at a massively reduced level, a large proportion of which is at 10.5% (even if it was not, then a max of $4m is at the higher rate)
In any event, LIBOR has tanked to around 0.5% so any higher debt would be at 13% level not 15%.
According to the 2018 Annual Reports, $16.5m of this is 10.5% and the remaining $4m was at 12.5 over LIBOR (which I believe matched the bank lending rate)
I would expect he higher rate debt to have been paid down first.
Decent endorsement to have Trafigura as a substantial holder, they're no mugs.
Not come across Prime bid before.
perhaps this is whats left of JP Morgan, sold down to less than 3% in January but didnt disclose an amount remaining.
if its anyone else then its roughly 2% and that would probably trigger a notification of holdings.
I took the liberty of contacting the company last night when I read about all this, surprisingly, I got a response this morning. I am taking the risk of posting this despite the fact PL didnt say I could, response below;
---
Thanks for sending me the evening standard article
Whilst I don't comment on press speculation I will make an exception in relation to this article. I will answer short and to the point
1. We have no intention whatsoever to raise any money now or in the future for our exploration projects
2. We are not "struggling" to raise any money. We are a solid, profitable company as we have announced. This Company generated some $21.5 million of free cash from its operations last year and this continues so as to power our capex programme which because of the materially potential assets and strategic pipeline we acquired in December we intend to intensify particularly expanding our significant gas production and infrastructure
3. ‎It is well known that I am a substantial financial backer of this company and have every intention of continuing to be so
4. There are no doubts that are being and/or have been expressed to us at any time regarding our present reserve base, nor can there reasonably be
A. Our reserves are audited every year by a different independent reserves auditor according to Argentine law. This is not a rotation but each year someone new has to stress test, audit afresh and sign off
B. The latest report being as at 31 December 2018
C. All our reserves are in fields that are actually producing
5. Whilst I do not comment in advance on any share issue that may be made at any time what I will say is that any issue will be offered to ALL our shareholders on the same basis without favour and will in any event only be used to enhance/accelerate profitable production ‎/ make acquisitions
6. You finally asked about the holding of one of our disclosed shareholders‎ Michinoko. We monitor our shareholder register diligently and weekly and can say the holding of that entity remains on our register in the published amount and no sales whatsover are shown
As for the article I view it with contempt‎ , the motivation of which is questionable. It's deservedly today's fish and chip paper
Many thanks for your continued support‎
Or hold CTRL and Refresh browser, mine does this sometimes when it cache's an old page.
Its in the Media section on the PPC website.
They didnt, they bought into Jefferson Island and have Paraguay to go at!
Auditor has been plaguing the ADVFN board as Blackjade11 with rogue posts trying to find people to listen to his nonsense.
Some research shows he is a US individual based in New York, as Brasso points out a former Chairman of the failed Dahava Petroleum in Paraguay. When Joseph doesn’t get the required replies or indeed any replies at all he takes to trying to intimidate posters and then bombards them with messages.
The guy is a convicted felon, fraudster and has served time in the US for a $5m wire fraud. There are a number of articles online which make reference to INTERPOL warrants etc.
I had this, if you Ctrl + refresh your browser then it should clear the cache and reload.
I imagine in 38 years technology has developed and given a gas company have used it to store gas for 24 years things are alright.
@Max I get your point on time data room has been open but dont forget its been a turbulent time for oil and appetite after massive capital expenditure cuts might have been thin. I think now we see a more substantial oil price, budgets will be reviewed for 2019 and thus IMO improves the chances of someone having a bash.
whether or not that is true on actual drilling President managed to increase production from PF significantly by a major programme of workovers using a rig...that's clearly indicative of President's new in country management .
They clearly know what they’re doing, on time and on budget.
The big plus for me here is not only should it cover the cost of electricity (with some left over) it means that we are not tied to future power price increases or someone controlling out infrastructure. Cant be held to ransom if you operate your own utilities. This on top of the royalty free usage of the gas.
Isnt it next week?
Nice to see the company engaging with private holders, the video is useful and personally I think it displays the quality of the assets we have and the potential this company has to grow. Be good to hear the Q&A later.
Don't think the need a substantial oil find. They have 27m barrels of independently assessed reserves (not resources). Production is nigh on 3k boepd and throwing out around $1.5m a month profit, if not more.
With all that exploration prospect thrown in for nowt.
My view exactly max2, he has 30% of the company, if thats not shareholder alignment I dont know what is.