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Yes Trifle, I thought Rainbow wasn't great either. The Rainbow Warrior came a cropper, The Rainbow Nation isn't in great shape. I also see the LGBTQ+ rainbow flag has had it's day and been modified. Probably fed up with muppets apropriating it whilst clappping like circus sealions in support of the NHS.
Paul is Irish and will be plenty aware of the nation's acute sense of history so I think Mag Mell is a great name.
Naming is all political.
Project rainbow wasn’t a great name, issues with appropriating the rainbow flag from the gay crowd.
Mag Mell is not just the name of the project, it’s the name of the subsidiary - I think they’re trying to sugar coat for the greens.
Anyway - I see that Sound energy have announced something this morning with LNG deal in Morocco.
The Ireland FSRU project was called the 'Rainbow Project' until a few month's back. The fact that it is now the 'Mag Mell Project' (named after some Irish folklore) is telling in itself.
Good evening Nigel......yes i can be polite :) as you are to me when you reply......in reply to your just prior post
"Pre drill expectations.......early commercialisation study based on a 36.5 bcf find
I did just re read the Rns ....and did at first agree with you, but upon further (word by bloody word breakdown) reading of Rns...came up with this..
"Plan of Development submission based on a potential gas discovery"
Important word .....POTENTIAL....
I did mention in a post earlier this month after July 6 rns, that Mou 1 as stated in Prd reports etc was always intended to test the outer limit of proposed Mou4 drill not as a producing well and any large gas amounts(commercial size) would already have the "plan of development" ready and waiting.....
can't remember who got me to go through Rns's, reports etc word by word and not just skimming through them .....think it was Mem, or maybe cluelesstim? But that's the way i now read them, every bloody word gone through to try and find if its read in wrong context.....please believe i am not trying to argue with you and not wanting to get into tit for tat posts etc, but above reply is how i read the" plan of development " .....hopefully by now, you will be having a beer and relaxing .(you mentioned in earlier post this month you enjoyed one in evening) ..so i shall say "cheers" to you Nigel.
Gla
taff
Bdt
Good evening tt-t.....just got annoyed with people distributing remarks left right and centre, without actually READING the annual report, a lot of "complaints, moaning" about Prd is just taken off quick reading of Rns and deciding what bad points can be made out of it......and yes i have complained about make up of recent Rns's before anyone kicks off......believe me, no one wants a really good (well written) rns than me, had faeces last few weeks(Grh will vouch for that) but am still here, still holding, and yes i could have top sliced at 18 etc.... but there again, hindsight is a wonderful thing....if everyone who us telling us to sell/get out now are so good,surely they would have sold/gone by now or are they angels in disguise and have nothing to do during days now after their obvious success in share dealings and this is how they fill their day .....
Same as previous post, i don't give a flying canard about what anyone says......etc etc....
Gla
Bdt
TT-T...
Correct
Drop me a connection request if you want...
Or via twitter
@GrahamHengland
I enjoy the debate...Might be good to to chat...up to you of course
Have pathological dislike of those lacking in intellectual rigour...
ATB
Regards
GRH
Well done BDT. These people are the typical online trolls whose argument is resorting to saying "why don't you read a book sometime' despite being barely literate.
Good evening Nickel mine ..
Re
Niimckelmine
"But pre drill expectations weren't met were they..... Read the company presentation(s) pre drill, the annual report"
Prd annual report
"If warranted, rigless testing will be performed and, depending on
results, appraisal drilling may be approved for Q4 2021 in order to
fasttrack an early gas development in 2022 for the Compressed
Natural Gas market."
As far i understand, Prd are drilling in q4 2021.....
Nickelmine
"Annual report was v specific about Trinidad bopd increase as well "
Annual report.
"approval to move to the next stage of the pilot CO2 EOR project. This
involves at least 9 months of continuous CO2 injection to allow for
increasing reservoir pressure buildup to a level close to the prepilot
reservoir engineering maximum safe limits, subject to any operational
constraints that may or may not develop during continuous CO2
injection...."
Important words are "involves at least 9 months....we are now into "the next stage"
Albeit looking good on balance sheet , Paul also specifically stated in an interview that he had no interest in Bopd but if anyone wants, he would take his bucket to trinidad and measure same.....he is more interested in the adding of co2 eor contracts than quantity of oil produced ...
So Now i await scathing remarks about being blinkered, criminally insane,professional ramper and to be honest i don't give a flying Mallard....i'll never meet any of the whiners /naysayers of this bb and really wouldn't want to, and am quite happy with my pennies, albeit dropped in last few weeks ......i can wait
End of rant ...
Gla
Bdt
Hi GRH,
I did look, 53 connections if I found the right one? Your connections are hidden unless we connect though.
That said, not someone I think I have actually crossed paths with albeit the same world.
Leaving is one thing selling is another..... pilbeam knows where the business is on all its projects.
Its a big red flag.
Doesn't mean cant deliver but does suggest as far as pilbeam sees it t least, there's no definite route to delivery soon on any 1 project....
Highlandmatt,
Wouldn't have thought that it was outside the realms of possibility that RPs baby was the Ireland project. As can be seen in the RNS, one has gone and the other may not be far behind....would be enough for a quick departure if LB was streaming lining resources to focus on production and producing opportunities.
"An opportunity to capitalise on the progress made on the Mag Mell Kinsale FSRU project in Ireland through consolidation with a potential acquirer or acquirers of a producing gas asset in Ireland is also being pursued.
Board change
After some three years with the Company, Ronald Pilbeam is stepping down from the Board with immediate effect to pursue other interests"
Seems to me that they are concentrating on the other projects and it has put his nose out of joint.
A falling out? Maybe RP sold because he needed the money and PG called him an idiot. Maybe they disagreed about the interpretation of the data, or the future plans? Who knows, but it does happen. I once worked with someone that had a falling out with a business partner over whether an order was considered firm or not for cashflow planning purposes! Either way, it's all just speculation at the moment. I'm judging the company on its results and the risk/reward balance.
I'm afraid there is no good reason why a key team member sells most of his shares post mou1 result and pre placing.... and then gets "resigned" a few days later.
Be careful here given this stuff going on.
But pre drill expectations weren't met were they..... Read the company presentation(s) pre drill, the annual report.... its all nonsense in the rns. Pilbeam share sale and departure confirms big doubts at the very least.
Annual report was v specific about Trinidad bopd increase as well ... July was critical. What has covid (excuse) got to do with pressurisation and increasing bopd.
Prd may still be worth a punt ... but I hope no one has serious money in here still given recent news...and huge questions over governance, theseus, arato, funding, etc.
TT-T
If you take a look at my hardly used LinkedIn profile...you will find Edward Troup there
Great tax partner at Simmons and Simmons before ascending even loftier heights
Small world?
ATB
No worries. Didn’t pry just could see it wasn’t intended!
Thanks LochNez, realised immediately but took some fiddling annoyingly
I am a long time holder here and have added in the past week. The one thing that does bother me however is Ron Pilbeam selling, even though he still holds 2.5m shares which would give him a nice retirement if projections come in. I have thought of every reason why, but still can't come up with a reason. He better than most will know how things are shaping up and if so under what time scale, so why would he realise 200k when he could borrow that money for a year on cheap rates. Hopefully others here can suggest why so that future dog walks aren't ruined mulling this over...
Sorry wrong link
https://www.dropbox.com/s/294fflc0hc81dof/cpr-report-pathfinder.pdf?dl=0
T&T, get that link down ASAP, it gives access to documents I don’t think you want to share with us
I can’t speak for him, but if I was GRH, I’d say that we’re all big boys and girls and if you’re swayed into buying or selling by anyone else, then you deserve everything you get. As many have noted on this board including GRH, you make money in this game by the courage of YOUR conviction, no one else’s.
GRH, what do you say to the people who bought after your ramping and bought on the way up to 22p and now sitting onna massive loss.
You seem to spend your life in this chat, the pay must be good
Understood BDT
Its gone.
Atb
Wacky.
GRH -I'm always keen to learn. Which bit of data is it that tells you that MOU has come in (pre testing)? Or is simply the statements that pre-drill expectations have been met and exceeded?
Nonsense.
What don't u understand about a director's share sales pre placing, post result followed by "resignation".