London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
You will only have one login account. Registering with multiple accounts is not allowed. Any user found to have more than one account on this site will have all, and any future accounts suspended permanently.
Your email and password must only be used by you. If a post is made under your account, it will be considered that it was posted by yourself.
Your account nickname must not be the same, or contain, listed company names or board members' names.
While debating and discussion is fine, we will not tolerate; rudeness, swearing, insulting posts, personal attacks, or posts which are invasive of another's privacy.
You will not;
discuss illegal or criminal activities.
post any confidential or price sensitive information or that is not public knowledge.
post misleading or false statements regarding the share price and performance. Such posts are deemed as market abuse, and may be reported to the appropriate authorities.
post any private communication, or part thereof, from any other person, including from a member of the board of directors of a listed company. Such posts cannot be verified as true and could be deemed to be misleading.
post any personal details (e.g. email address or phone number).
post live price or level 2 updates.
publish content that is not your original work, or infringes the copyright or other rights of any third party.
post non-constructive, meaningless, one word (or short) non-sense posts.
post links to, or otherwise publish any content containing any form of advertising, promotion for goods and services, spam, or other unsolicited communication.
post any affiliate or referral links, or post anything asking for a referral.
post or otherwise publish any content unrelated to the board or the board's topic.
re-post premium share chat posts on regular share chat.
restrict or inhibit any other user from using the boards.
impersonate any person or entity, including any of our employees or representatives.
post or transmit any content that contains software viruses, files or code designed to interrupt, destroy or limit the functionality of this website or any computer software or equipment.
If you are going to post non-English, please also post an English translation of your post.
If you are going to post non-English, please also post an English translation of your post.
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium and Verified Members
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
For the removal of doubt for newbies - SLR stating COS at 34% is set purposely low to safeguard SLR’s reputation, in case the drill is a duster, stops possible Litigation as well.
Rarely will you find a COS much higher on a maiden drill. PRD management think the COS is much higher.
The slight pullback in the SP is a little profit taking, remember some people have been invested since 1.5p, so they have a 10 bagger, happy to sell all or part of their SHolding. 3 steps forward, 1 step back.
This allows other people to enter or top up, creating a solid base. I just added to my position with another sizable top up at a smidge over 17.1p.
Well summarized kalinit. Few points/corrections IMO.
Firstly, PRD is not AIM listed. It's standard listed with JE incorporated possibly the reason why there's no stamp duty on share purchase.
Morocco - we have 6 reservoir targets but the COS might have to be classed independent and dependent I.e. Probabilities. SLR as a third party have only given a cos no. For One reservoir target of 34% while rest are management estimates. This has been a bit of confusion for me that if SLR updated CPR in 2020 why they didn't include these other targets that PG included in the ppt in July 20? Don't think anyone here knows the reason for it? So the probabilities might need to be taken on the 4 zones and given that we'd be drilling one well, probabilities might have to be classed as dependent rather than independent events? And sou/char are getting their gas projects off the ground so export pipeline capacity might be limited. And given Morocco pays top price for the gas, they'd expect that local supply from sou,char and other potential prospects/developments like PRDs will actually get the high local gas prices down in line with other countries.
T&t - is best co2 EOR project in the world? Co2 EOR is upcoming but common globally but trin is where the opportunity lies for PRD. Scaling is where the hard work lies as every contract value would be dependent on the service fee and any potential profit sharing that the producer might want to share with the service provider rather than the actual bopd a given field produces? Green credentials of course should help us get traction with green investor cohort but might be dependent on how each contract might be framed. Given that heritage might be short on cash they'd want developments like TXPs to boost revenues along side EOR. Project economics are obviously dependent on the most important factor IMO which is cost of co2 injected.
IE is definitely a wild card until further news confirmed. Pvr reg. experience has left a bad taste for current and potential IE E&Ps IMO.
Corrections to above points welcome from serious contributors?
The potential value in PRD is immense, we just need PG and team to derisk the prospects so the word "potential" is dropped off and our mcap grows substantially and sustainably.
I did, in fact I studied this presentation a long time ago and made an expectations road map against which I am plotting the course of Paul's actions/progress. There were times when I doubted his intentions - my theory was CO2-EOR was just a side show to get advantage in the politically charged Ireland (Having the 'Green' CO2-EOR badge makes it easy to sell). While this still could be the case, COVID could have changed his plans and now he can monetise each of these units separately.
Morocco is also very very interesting, specially how he ended up getting that licence, the speed with which he disposed off the convertible loan… Read a lot of published research on the Basin and its potential for Gas discovery – very interesting!
Btw, I am one of those many who monitors this BB regularly but do not comment as I have nothing new to offer. I was in early, put the maximum I ever wated to invest in PRD then, not a fan of averaging up as one mostly loses money, sitting on 4+ bags now, have enough safety room to weather the lows, if they ever come our way.
Btw, congrats on your first of many £Millions from this investment!!
Greetings to all, especially GRH and the Wackmeister whose posts I have enjoyed. I feel the exceptional nature of this share, at this point in time, is worth reminding ourselves of.
Morocco Who else has got a 4 stacked play with a COS of (1 or more strikes out of 4) of 90.5% in the best gas post code in the world???? If you take out the chance (16.1%) of the worse single strike happening on its own i.e. hitting just 1+1a at P90 of 19bcf (which may not be commercial) we still have a COS of a commercial gas find of 90.5% - 16.1% = 74.4%. Who has ever backed a field opening well with that kind of COS???? Gas Price - $11/mcf Taxation – none for first10 years I believe PG has outlined I think 4 ways of making this commercial, very very easily:- 1. Put in into the nearby pipeline which is linked to Europe 2. Build a gas power station as the well lies on the national grid 3. Truck it to power hungry Morocco industry as LNG 4. Send it to Ireland, non fracked and guess who has plans for a regasification terminal to feed a country where the lights might go out next winter. This kind of joined up thinking is the province of a Major not a Minnow.
T+T Arguably the best CO2 EOR project in the world – 99% pure CO2, 40km from wells already drilled. Most other projects have impure CO2, hundreds of miles from well heads which makes it cost prohibative/marginal at best Successful pilot Simply needs up scaling and selling Carbon Credits could add further value when it comes to sell.
Ireland PG probably the man with the greatest chance of getting a gas project done in Ireland. Political headwinds seem to have turned in our favour. Again – if PG lands this fish, it would be worth many multiples of the current SP
Company itself Management have huge skin in the game 3 serious projects - not just a 1 trick pony – stunning for such a small MCAP Possibly the AIM O+G minnow with the most green credentials – something becoming increasingly important. As our MCAP grows and we get to a size that institutions might look at, that becomes even more important, as many funds are actively seeking greener companies. If they start using their buying power, the sp would rocket. Seems to have a very small but effective team – low operating costs with high output of progress. So many companies we back have large boards and do little except come to us for money!
Beware At any time all our plans could fail due to a market crash and sentiment turning negative, producing conditions where the best companies sp is trashed. Summary:- I think GRH you have said a number of times how special this company is. Since you saying that, all 3 projects have got better/closer to spud/comerciality. My experience goes back only 15 years, but I have never seen anything like this as a whole package in a Minnow O+G AIM company before.
Good luck to all and correction of any errors in the above much appreciated. It is my own opinion and done as a aide memoir fo
I am not at all sure that many listened to this...see my post of yesterday
rather than talk about SP up/down /sideways...do PLEASE look at what the CEO said about EOR/CCS
it is an eye opener and will surely raise big questions as to values the BoD are creating/have created !
Oddly an investing friend of mine emailed me just after I posted yesterday to say that the best bit for him was just after 22mins
I agree with him...there are some VERY good bits of information in there
Do please DYOR...and if you have not watched it...give it a try
BTW...I am just a tad short of a milestone £ here... that was all through massive due diligence and a LOT of research/backing my own guts/not listening to bullsh*t from folk who have not the faintest idea what they are doing It can be done...but only by following your own path Try it...you might enjoy it
I wish the best of good fortune to all genuine investors here...several of whom were in before me