The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Hey Nlge/Excelcior/Tim/porters/wtfycy,
You have no credibility here until you answer the question, which is as follows (again):
you did claim relevant experience a while ago ...
and you were kindly going to set out for the BB what you have achieved
either in the markets
or of course within E&P itself
Despite a reminder having been posted, I don' t recall seeing your note on that...
BRV, if you knit together the PRD's New Business RNS of 12/3/21 and the 'News' section from the HGP site which reads,
Coming Soon:
Announcement of an exciting new decarbonisation project
congrats, you've come up with a great find.
BRV what achievements exactly? Familiar with the last two outfits inc one which magically transformed itself into a micro pharma?
Gas has been 'discovered' but is not yet a 'gas discovery'.
Turbid waters indeed....Pilbeam anybody?
BRV, hence forth AKA Sherlock Holmes. Brilliant supposition, follow the breadcrumbs indeed !
PG is positioning himself like Kasparov in 1985, so many pieces on the chess board, but moved by a Grand Master.
I have never been more relaxed with my 7 figure holding, just watch and let it play out.
MEM
BRV,
I think that a very, very interesting proposition.
As another very good poster on here has said before "Follow the breadcrumbs"....
PG may be even way smarter than even his biggest supporters on here think.
I may be reading too much into this but going back to slide 3, when discussing Paul’s background, it states:
“Founded H2Green Power Ltd – hydrogen start-up”
At first glance, from Paul’s long career and list of achievements, this seemed to me like a rather odd thing to mention in a PRD presentation as it doesn’t obviously appear to be directly related to PRD’s current business activities. So this begs the question... why mention it?? (as we know, Paul doesn’t do things without good reason!).
However, reviewing the RNS of 12/3/21, it states:
“New Business
Arising out of the success of the Pilot CO2 EOR Project in Trinidad, OPPORTUNITIES ARE BECOMING AVAILABLE IN THE GENERAL FIELD OF GREENER ENERGY SOLUTIONS AND CO2 SEQUESTRATION. The Company will explore these opportunities further and may invest in third party companies whose businesses could add value to the Company's existing projects.” (my emphasis)
The only company I can find online that fits the bill (though I can’t see it definitely stated that this is Paul’s company) is:
https://h2gp.co.uk/
Under the ‘Product’ tab, it states:
“HGP uses advanced technology to capture/remove waste CO2 from carbon intensive processes. HGP has developed an Integrated Hydrogen and Methanation solution to combine green hydrogen with waste CO2 to produce bio-methane which can be used to reduce fossil fuel use in existing industrial processes, to replace fuels used in the customer’s transport fleet or be sold to third parties”
So, in essence, it’s a company that will produce cheap H2 (40% cheaper than others) whilst simultaneously sequestering waste CO2 and so contribute to the green energy transition i.e. it certainly fits the bill as far as the ‘new business’ opportunities for PRD mentioned in the above RNS.
So is this why Paul has mentioned “H2 Green Power Ltd” in a PRD presentation? Is he hinting, perhaps, at a tie-up at some point? I presume the use of such technology, utilising wind and solar to produce H2 and then sequestering CO2, would certainly be of interest both in T&T and Morocco.
As I say, I might be jumping to conclusions here but it just intrigued me as to why Paul would mention this...
I have been buying again ,after reading the new Presentation you simply have to,What a Company PRD is ,3 ways of making money for Shareholders and the biggest shareholder is the main man PG
Hi HM,
Spin-off's are effectively an asset crystallisation - a sale really.
Sales crystallise VALUE.
QED about this stock.
Something truly special here.
Afternoon BRV,
A really brilliant analysis of the presentation.
Huge value-add to an already very valuable BB.
I am very enthused about this PRD situation.
Borderline excited.
BRV - that bit about consolidating the Irish assets and offering as an IPO caught my eye as well. What a good time to be floating such an offering. PG really is a master opportunist.
Correction...
Should be slide 14 (not 12)
Further point re slide 12: (Ireland)
"Seeking to merge Mag Mell & POGVL & evaluating a possible acquisition of an interest in the Corrib gas field to create material substance for an IPO spin-off"
IPO SPIN-OFF!! Clearly Paul thinks the ROI business is big enough to be its own separate entity!
As I suggested only last week, Ram's Head clearly displayed on the new presentation. Focus on RH will be of huge commercial/Value creation.
Paul is clearly charging forward.
Although RBL is being discussed, I still think a JV will progress matters much quicker. The fact that CP is 2 years behind us -
might be a strong indicator of their desire to step up with what would be pocket change for them and commit to a JV or Schlum might.
Or Massey, I imagine PG is not short of offers.
The new presentation is jammed-full of info… I think my head is about to explode trying to take it all in!
A few highlights from my first read-through (focussing mainly on Morocco)
Slide 1:
Lonny clearly has a VERY impressive CV with good connections to the Moroccan govt
Slide 7:
The IRR for Morocco is stated as >100%. If my memory serves me correctly, CHAR’s Anchois had a stated IRR of approx 30% and was commercial at these levels, so the financial metrics for developing CNG for PRD are clearly excellent.
Slide 8:
PRD will be first out of the blocks in Morocco for producing gas (by a good 12-18months at least)
Slide 11:
Capital for CNG (for 5mm cfgpd) is US$17M but this includes the costs of MOU-4 and -5, previously stated at $3.3M each. So excluding these drills, that’s initial capex of $10.4M. The scoping study of 18/3/21 stated the capex (admittedly for 10mmscfgd) of ~$15.5M, so that’s less cash required to reach ‘first gas’.
Capex + opex of $3.49M/Bcf. At realised gas prices of $11M/Bcf, the net backs are $7.51M/Bcf which is slightly higher than the figure stated in the RNS of 18/3/21.
Slide 12: Loads of running room! Now de-risked by MOU-1...
Slide 15 (Timeline):
Looks like a definite plan to drill MOU-NE in early Q2. Described as high-impact “Blue sky” drilling – Paul clearly thinks this is worth doing, presumably as he’s confident MOU-1, -4 and -5 will be ‘in the bag’ by then.
Confirmation that the CNG development will be funded by debt finance (there was some discussion on this after the Proactive presentation)
However, as per the RNS, the time to first gas has been pushed out into H1 23 (whereas only a couple of weeks ago it was end 2022) and no mention of 3D.
Interesting that M&A activity for T&T and Ireland is slated for Q4 21, so newsflow on this front could be imminent.
I’m sure there’s plenty more of nuggets that I’ve missed on first reading so apologies for any glaring omissions, but I’m sure more clarification and detail will come during this afternoon’s presentation.
Slide titled
“Building a Commercial Energy Transition Bridge for Industry and Consumers – Spotlight Morocco”
Graphic “Discover Gas” - ticked.
Nigel?
Reposting the link from below. Just finished first read of it, outstanding stuff.
https://wp-predatoroilandgas-2020.s3.eu-west-2.amazonaws.com/media/2021/09/28070152/Webinar-Presentation-website-Version-28092021.pdf