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The Trinidadians have said EOR will be used across the vast multitude of their sites. This is after the results from the well PRD drilled.
When attempting a troll do it a while after, that way people don't immediately recall the RNS's and the Government statements.
PG stated JV should cover finances. If a placing occurs there are enough billions of gas reserves in just the single 100 square km gas kitchen to cover the costs and leaves us with multiples and multiples and multiples of profit.
Then we can deliver the other number of areas, which will be seismically tested ground to extract more profit.
There are further licenses that will be exploited and with a gas EOR system that does work( as one can see from the RNS and the fact Trinidad intend to use it on there sites) to ensure actual shareholders make very very healthy returns in Trinidad and beyond.
Got to say Nigel Hemorrhoids and his little brigade used to troll far better than this...
All that matters is PG getting that drill in the ground. If gas gets hit in the numbers we believe from the recent RNS's everything else takes care of itself. Trinidad being expedited more quickly than before is a very nice bonus.
As we all know in oil and gas every penny is at risk. The upside here means you do not need to invest a huge percentage of your portfolio to have very strong exposure to an exciting upside.
We will hear about JV funding most likely around November early December.
MEM
OK, no probs... lets see.
If mou1 data is convincing then a jv is not impossible although personally I think chances are low as I think significant risk remains that a jv partner would want reducing via an appraisal well result.
Trinidad oil flow results have obviously disappointed but again its still possible to move the process to a new field... Griffiths has said many times he has NDAs signed and deals lined up.... I doubt it without proof of concept from Inniss-T, but its not impossible.
I genuinely hope I am wrong ... will sign off until further news.
GL.
Tom58,
you complain that you bought into PRD without doing any research. What about doing some research now? You don’t seem to realise what this company offers (or maybe don’t want to…)
I am just peed off because i am at a total loss of 65% after getting taken in by the likes of MEM and GRH and a few others, SP quoted upto £15. As i understand, Prd don't have anything in Trinidad now, So to the poster who said 3 assets, I think you can now say its 2.
My only hope that their is a JV or otherwise it wont be the directors paying the price of dilution, It will be mugs like us
Not to have a go at the bears but can you actually tell me why your all still in this share? Or if your not in this share why you are still hear?
There comes a time in a person's life when they must realise if it's for the good of others and they aren't listening best to move on.
Thing is tho you won't because you have alteriar motives in this case you probably realise the mcap is that low and the shares in issue are that small that this will boom on success!
Proven gas play! CEO who doesn't seemed to fussed about finance! 3 assets still! Yeh I'm gonna be happy sitting on this till the end
I can argue with you all day…
T&T very likely CEG do not have any substantial cash to pay PRD the money they owe us.
Morocco, I think you need to wash your ears out, PG suggested a JV, lets give him a couple of months to come good on that.
As for NED, agreed it does not look good at first glance, but I suspect Paul is completely engrossed in his presentation, and simply lost track of time and or he was there to fill Lonnys seat. We don’t know if Lonny was going to present….
Please take your negative views away and re-visit in 12 months and then we can discuss MOU 4,5,6 NE, 7,8 &9 all fully financed through a JV.
MEM
When BPC took over CERP they didn't like the production share on FRAM.
They didn't like the offer we made to fully acquire it either.
They have not complied with the terms of the existing IPSC, or it would seem HSE and environmental requirements if PRD's presentation is to be taken at face value.
It is misleading to suggest the the current situation in relation to the project is all down to PRD.
A response putting their side of the story is needed from CEG, where is it?
MEM
I'm afraid it isn't "tosh" though is it.
Trinidad is miss after miss after miss after miss... just read old presentations, listen to old interviews.... its dead...CEG had enough , told them to pack up their kit and go. You don't think they did that if it was producing much needed revenue do you??
Morocco.... if you think they aren't going to need an equity raise you're delusional. First gas now h1 2023....again ....look back what Griffiths has said in the past.... makes it up as he goes along...."be patient trust me, we will deliver"...so the board can take money off you to pay themselves for another 2 years.
Anyone know why NED Louis Castro was sat there and said not a word? Is it just Paul loves the sound of his own voice??
My suggestion to Tommy boy is realise your loss and reinvest it somewhere else before the equity raise.
NMine,
You are just talking utter tosh as usual, I cannot be bothered to engage point by point, all I will say is good bye and good riddance !!
More Boys back in town.
Tom, please be specific around who these "rampers" who are in a "group" and who "act together" and provide evidence to back up those accusations.
And whose supposed behaviour has supposedly cost you 65% of your investment.
Sorry Tom.
Mine was advice. If you believe dilution is imminent, cut your losses.
I, too, am down but holding.
Given that we know CO2 EOR works, and is now government policy, I think it is more likely that PRD asked for its share of the increased production, which wasn't forthcoming. This has then caused the bust up.
Are you reading from a script Tom ?
Amazing 3 posters within a minute, Looks like you guys are working together , Its noted that anything that is negative is shunted to the bottom.
I know that i won't be the only one who is down in this stock, Many others will be too
"i cannot afford to sell" If you believe the price will go down, you cannot afford o hold.
Tom
If you feel that strongly about it then i would get out whilst you can, 65% down wow, imagine if you went 70% down we would never hear the last of it. If your mad enough to listened to your so called rampers and not do the relevant research before hand then sorry you get what you deserve! Taxi!
GLA
Nickelmine raises some good points, I thought Castro was the presenter, Had nothing positive to say and that says a lot.
Personally i am down 65% after listening to the ramper's in this group chat working together and yes, I should have done my own research.
My biggest fear is more dilution in the near future and i am at a stage that i cannot afford to sell or to average down.
Worst mistake that i have made buying into this company and listening to the ramper's in this chat.
i would say good luck , We need more than luck to get out of this hole
Nickelmine, you forgot to add your target price. 4p? 3p? Top trolling.
I might well have misheard/misunderstood this, but has PG changed the strategy for obtaining drill funding from a Moroccan downstream industrial gas user to a JV/farm-in with another O&G company?
Real shame we couldn't hear from Lonny, was really looking forward to that. Hopefully we get to hear from him on another forum soon. His presence is a massive vote of confidence for me, especially considering Pilbeam's exit (does sound a bit like he didn't have much faith in the MOU-1 results, or at least the early results).
I think that if (obviously it is an if and we would all be crazy not to be a little bit worried about further placings) PG can obtain drill funding this will fly, not least because it will demonstrate that someone else (presumably knowledgeable) really buys the story based on MOU-1 and seismic etc. Not sure what will be the catalyst before that though.
Observations on that presentation.... I'm concerned.
How good was the NED chairman?
Says something about Griffiths that he didn't introduce Castro properly or let him say a word, not one word....
Trinidad .... its obvious why there's been a bust up... after several years of promises prd have delivered no extra oil production hence CEG have lost patience and kicked them out. Prd will not get their costs back and I suspect a lot of capital costs will have to be written off.
More importantly.... it provides no funding.
Ireland
Political quagmire. No tangible progress.
Morocco.
If mou1 was as good as Griffiths says he would show CP the data and they would take a stake.
Company needs funding and a lot if it.... I'm afraid there is a lot of dilution coming.
I had to curtail my original post regarding CEG as felt it unfair on a company I have never wanted to invest in or unfair on their shareholders. But I do believe they are on ‘borrowed time’ with a lot of their ventures. I do wish them well on cutting their losses and recovering at some time in the future as don’t wish any company to fail. But I do see a benefit for PRD in the current situation in T&T
Yes, without doubt Lancy. CEG have only been on.tne manor a couple of years as a result of taking over CERP. They have an awful reputation for over promising but delivering jack over 20 years as BPC in both the Bahamas and T & T. Everyone remember, 2, 500 bopd in T & T alone was faithfully promised by end of 2021 by former CEO, Simon Potter.
Why should Heritage or Minister Young trust them rather than PRD and Massey.?
‘The Company designed, developed and successfully executed Trinidad's first CO2 EOR project in the last 25 years and has engaged with the Ministry of Energy and Energy Industries over 5 years to help develop the case for CO2 EOR in Trinidad's mature producing fields.’
Strong relationships have been built in Trinidad in those 5 years, PRD have earned their excellent reputation with all stakeholders and those who might wish to work with Paul & team in the near future. I expect a favourable outcome for Inniss Trinity :)
Vegas, I'm almost sure that what you say re Challenger's challenging behaviour is spot on. Attack the best form of defence so expect them to behave like a wounded badger.
Maybe Paul was was a little concerned/extremely worried re their finances and wanted to get in early or maybe he just wanted to force them to show their hand.???
Either way, they have shown their true colours, that's why their investors are sitting on a 95% loss in 12 months and we are sitting on a 20% gain. I said a few weeks ago , they owe the Bahamian government a big wedge of dosh, it's a rich nation.lith access to great lawyers, I don't want us to be behind them.in the queue for reparations if CEG go under (or rather WHEN CEG go under)
I would bait Chesh, but believe it gives me bad karma (),::
Still have a niggle .... no not that niggle .... that PRD requested they receive what they are due and perhaps also repayment of the loan. CEG behaved like a desperado would and threw a hairy fit. CEG are in dire straits and unlikely to be in a financial position to meet the request. Going concern... mmm ???
Their shareholders deserve better.
ATB,
Vegas