Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
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Does anyone happen to know what we are due from our CCS EOR activities in T & T?
If I recall correctly, with our assistance, a retired,no longer producing well was resurrected Lazarus style and began to flow at somewhere between 40-56 bopd. As we haven't been told anything to the contrary, I'm hoping it is still flowing and we are owed a decent whack for our expertise.
It doesn’t have debt or much in the way of cash
So how much will it need to raise via rights issue to drill another well?
Does anyone have an idea?
Of cause PRD has no debt, micro caps at this stage of their development cant raise capital through the debt market.
silly thread title to be honest.
It brings a little smile to my face every time the question is asked of Nige, due to it reminding me of one of my favourite films as a relative youngster.
'Dodge, duck, dip, dive and dodge' which are of course the five D's of Dodgeball as explained by Patches O'Houlihan.
Unfortunately an answer will never appear simply because an answer just doesn't exist.
Hey Nige/Tim/whoever, this is STRAIGHT out of the Bashers Handbook! Well done, you clever little sausage.
Now if you ignore the fact that the RNSs clearly point out that what we have in Morocco is astounding, then you would ALMOST be correct , but for Ireland and T&T. But that is beside the point, what we really want to know is the answer to GRH’s question of the 3rd of July, and he’s not asking for a CV or even a resumé, he just wants to know the following:
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...
—————
So come on old bean don’t be a stick-in-the-mud, let’s have the answer.
Totally misleading GRH, PRD has no assets in Morocco, only rented exploration acreage which may have commercial potential 'in italics now' provided that we carry on raising funds and using the proceeds for expensive operations ie wells/3D etc etc.
I use the word misleading because there is no possibility of raising debt finance with the exception of junk bonds IF we have a discovery, which we do not.
You could argue that Ram Head is an asset but with just one well in a licence which is stranded for political reasons! Everyone knows that Ireland is a truly awful place for the Oil and Gas industry...
True words GRH. No debt significantly reduces the risks of (a) cash burn to service debt, and (b) having to do something unpalatable to deleverage/repay the debt. At this MCap, you are getting the upside of Morocco drilling acreage and the Ireland assets for free. If I could afford to buy more, I would. As long as it is sub £50m, I'll keep buying and accumulating.
Evening all
roll that headline around in your head...
NO Debt
Zero
Nada
Zilch
then take a hard look at HOW small shareholders in some other E&Ps
have seen riches (created under their watchful eye) almost surgically removed from them
it has often been by the simple expedient of debt (often bond) holders
being able to march in when value is created
and dilute ordinary shareholders...
Dilution ...sometimes to practical oblivion (100/1 )
It is WHY I implore folk
to PLEASE look deeply at the Enterprise Value of companies in which they invest
The capital structure of a company is right up there in importance ...
alongside assets/value
I repeat
PRD has NO Debt
I have never ever seen this done before by a micro outfit
especially one engaged in value creating projects in three safe havens
NO DEBT
Get it?
I am a decent sized shareholder here
I RARELY invest in micro E&P outfits
Regards
GRH