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Just musings further to “What we need is Paul to hang on to all his shares and run the company as if it was a private business being prepared for sale”.
This is deeply unfashionable, and wouldn’t make much of a course at business school, but I think the nuances of running a plc often draw many people into becoming too clever for their own good, and failing to see the wood for trees.
I don’t want Paul to give a moments thought to timing an RNS to give a short term boost to the share price, or allow bed and isa transactions. I don’t want him to pay suppliers in shares, which would inevitably produce a larger camel designing committee. I don’t want him to worry about get ting to 50m capitalisation to encourage IIs, or engineer short term blips to get placing away.
I want him to hang to as many shares as possible, and create hugely profitable and compelling busineess streams that create maximum value for as few shareholders as possible. In short, success based on quality and talent, rather than froth and bull****.
I suspect this board could all start getting a bit silly.
What we need is Paul to hang on to all his shares and run the company as if it was a private business being prepared for sale.
Sound we all appreciate balance but let's not use balance as an excuse.
You claim to have recently bought a lot of shares, more than most on here at, at 15p plus.
So you have supposedly bought millions of shares at 15p. £300k plus?
And then talk this share down and imply the current sp, close to what u paid, is inflated and other buyers are dumb.
Okay then.
Just to add one more thought re my ‘Wild Card’ posting.
I was assuming that MOU-1 was a duster, then PG announces a Billion dollar deal, and I thought the SP would react with a brutal swing northbound, we could have a huge result off MOU-1, in which case any announcement along the lines I portrayed would lend me to believe an even bigger brutal northward SP trajectory !!
Just trying to give a balanced view.
BTW CLT, obviously I’m not stating fact, just my interpretation. I’ll be happy to stand corrected on the significance of that submission if anyone has the opportunity to spell it out for me. The intricacies of the approval process are still not clear to me...
Thanks Clueless
ATB
Hi CLT, it’s possibly splitting hairs and over analysing semantics from RNS, but might be worth highlighting that the specific 30 July deadline referenced in relation to Rainbow is only the submission in relation to the public consultation on ‘ Expanding Ireland’s Marine Protected Area Network’. I view this as an important but optional piece of stakeholder engagement from PRD that sits outside of their main regulatory consent/approvals process. It typifies what seems to be PG’s approach - high quality collaboration to help shape policy (also seen in T&T developments). Only mentioning it as I think it leaves the door open for a meaningful progress update for Ireland before July.
MEM - agree with IE potential. Definitely a wild card. Think project rainbow plan has submission deadline of June or July this year. Hence why said PRD has amazing potential and would feel more confident and comfortable with any rise on the back of PRD derisking the drills / prospects and then market recognizing it (as in was with TXP) than maybe other way round? Of course just IMO and others might have different opinion which is what makes a market. Day to day price movements and sp on a given day might be irrelevant to holders who have analyzed the PRD story differently than me. Hopefully the current sp momentum we have carries on for all of us holders as news crystalizes the value proposition that have been estimated here.
And of course everything I shared today could very well be rubbish analysis of PRD on my end, so everyone has to do their own research to gain their own risk adjusted conviction.
Zebra /GRH - apologies, might not have explained it well enough, I meant the %gain from 1p to 10p is same as gain from 10p to £1 irrespective of capital deployed - all obviously depends for us all on derisking of PRDs prospects. Every one has different analysis and different views on what mcap or value is fair, undervalued or otherwise based on with or without drill/other news.
All IMO and could be all wrong so always dyor
Great post mem.
PG is no fool, he's got his rather large holding to look after also.
Big skin in the game goes a long way.
MEM
Why on earth would you think I would disagree!
And why would that matter anyway!
In my view, you have at one stroke, elevated the average values of all posts this weekend...including my own...at least 100%
BB at it's finest
Enjoy Swaziland
ATB
Good evening, I have just sat down with a cup of tea and read through all the posts today, some great comments, differing positions etc.
CLTim has mentioned something, risk vs reward around our first drill in Morocco. Zeb04, also made some interesting comments.
I have titled this post (more ramblings from a chap sitting in Swaziland) Wild Card, why ? Please allow me to explain.
I know GRH does not agree with this argument, but please allow me to post this ‘idea’
Most SH in PRD would agree that PG is a very smart, astute, proactive CEO, a man of vision.
PG has a very large shareholding ‘skin in the game’
For me, it is inconceivable that PG does not have a plan, just in case we find zero gas in MOU - 1, something substantial up his wizards sleeve, to counter the negative news. If I was in Paul’s position, I would do all I can to have a fall back position, why would you risk your SP collapsing - if you could avoid that.
Hence Wild Card....
What could PG have in store ?
For me, it points to something big, something that would ignite the SP, a Hail Mary!!!
Now I would say think outside the Box. My theory is Ireland.
PRD have 2 Licenses offshore Ireland, Ram’s Head is classed as a Discovery (PG is on record of stating he thinks the field might be the biggest offshore discovery for ‘30 years’ - don’t quote me, but lets say substantial)
PG did say back in Nov he would soon be in a position to name our JV Partners, then nothing, even though he has now gone ‘Loud’ re Ireland. Added to this is our 50% Partner in both our Irish Offshore Licenses, we know very little about them.
So what would ignite the SP ?
My answer is simple, we announce planned re-entry in to Ram’s Head (the desk top study has been underway for a year)
You might think this is a stretch, however I do not. We have had confirmation that current offshore Licenses will be honored. We have an RNS from PG that he has lined up big Global Partners, we have a known Discovery, plans for LNG FSRU, a secretive partner.
Ireland are desperate for Gas, if they do not want to utilize an asset in their backyard, we can sell the LNG all over the world.
This makes a huge amount of sense to me, cover a poor drill result with a multi billion pound project, with huge global partners, massive global reach, the SP will have a brutal move northbound.
PRD are leading this project, we can probably engineer the news release/timing to help our position re news flow around Morocco.
This is why I am not selling a single share, I would rather be in than out.
PG is far too smart to let the SP fall away. It is his dream, ambition, final swan song, PG is too clever to bet against.
Think about the Logic, to me, this makes sense.
Obviously I might be wrong, but there is so much to gain, Billions, with or without Ireland. CLT, this is why I am in and in big, you just cannot out guess PG.
Tin hat on, standing by to be flayed.......