London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Chill BDT, take the dogs for long walk this will come good, trust the board to deliver.
T & T - CEG going under, we could soon have our hands on a producing field. News end of December..
Morocco- Haven't heard to the contrary, assuming SDX drill going to plan unless anyone knows otherwise? We rose nicely in the couple of weeks run up to the mou-1 drill. Only a few more weeks to wait..
Ireland- desperate for a reliable source of fuel to burn in the new gas fired power stations, we have proven reserves. Maybe we will also get the FRSU gig , maybe NFE get the gig but would like to tap Paul's forty years worth of knowledge and experience in o & g, dealing with Irish politicans and civil service bureaucracy..
Keep the Faith- I had £0.5 million worth of PRD shares for a few hours when we hit 22p, I now have £150,000 but I'm still very happy because I will be a millionaire with a year or two.
.
This, not the :')
Just a wee dose of reality here. The sp was the price 7 days gone by.
Paul, we know what we are doing... patience is needed..
Easy tigers
Love an stuff
Hbob
Hi Taff,
It’s only a worry if you’re thinking of cashing up ;-)
Mick
Make that 5.4.....unfortunately my little fingers cant keep up with sells..
Hiya Porters, so i shouldn't be unduly worried about sells outnumbering buys by approximately 14:1 and Prd going from a recent (post July6th) high of 7.6 to 5.45 at time of posting....that's good to know..........
In an illiquid stock (as PRD is), it is very easy for small trades to move the SP.
Especially on the sell side (so that usually moves the SP to the negative).
PRD is illiquid for 2 very good reasons: i) the founding shareholder (PG) holds close on 20% and ii) what would appear to be a strong coterie of PI's, many of whom seem to really know what they are doing, hold what could be as much as another 40%.
So, there is an embedded base - which is a great thing for any small company.
That is very unusual in a minnow stock (it is currently a minnow - I would not be here if I did not think it could very likely be a whale).
But that does mean that the amplitude on any given trade - sell or buy - is exaggerated and not necessarily reflective of what could be the true VALUE.
I would make the observation that it would appear that the big players here would seem not to have exited.
That it is a much more important indicator than a couple of relatively small sells here and there that move the SP either way on any given day.
It is all weather.
What matters is the destination.
If one is confident in the destination, the weather (whether good or bad) is just a passing phase.
If I did not believe that about this company, I would have sold out along the way.
Have not sold a single share since I started buying in nearly 2 years ago.
And I bought some in the 17p range (in retropsect, my timing on that could have been better, given that a spectularly bad RNS and a spectacularly bad placing within the next few days, the SP was down in the 6p range!).
Bad timing notwithstanding, I still think that purchase was good relative to what I believe this stock is ultimately worth.
Time will tell whether I be right or wrong.
FWIW Blackdog it takes very little shares to tick the price down I have been selling since last week and noticed this
I would actually go further and say that PRD sits on three geo-politically important but stable assets in the TRANSITION ENERGY space.
Assuming execution capability to plan (the basis on which I invested and which I have seen no reason to doubt), that combination should be extraordinarily attractive.
Maybe even more than extraordinarily attractive.
A most unusual company and a most unusual opportunity.
I have been around the markets for quite some years (decades, actually) and I have seldom seen anything quite like this.
Time will tell.
And I don't think it is likely too far off before the good ship PRD comes in sight of port.
Hi Keith
I was basing my assumption on the December 2020 update being called ‘End of year update’
Here’s hoping . . .
I too would have preferred the SP to have been a bit stronger but, given I was always in here on a research-driven basis, I have seen nothing on that front that would have caused me to change my view (which is positive) on the VALUE.
So, for me, then it becomes perfectly logical to stay in - as far as I am aware, the company-specific facts haven't changed .
Only the SP has been a bit around the houses.
If one is confident in one's assesment of the quality of the company's assets (which includes management and the shareholder base - at least several of whom seem to know what they re doing), then I would observe that the last couple months on the non company-specific front (ie geo-political), have only added significant VALUE to the mix.
Russia is, obviously, throwing its weight around, affecting western European gas prices (and indeed supply). Any kick-off in Ukraine will likely make that worse.
Iran is causing trouble again which could affect oil supplies coming through Suez. That affects not only Europe but the US, especially since the Biden administration abandoned Trump's policy of energy independence.
That makes Trinidad more valuable to the US because it is stable and pro-US, unlike Venezuela, and because it is relatively close to the US eastern seaboard with open-water access (no canal involved).
Moroccoa has open water access to the UK and Spain, so no throttle point (canal) there.
And, with all that stuff going on, energy prices are rising hard. Ireland is going to have to do something about that, irrespective of the political sensitivities that bedevil that beautiful island.
Rising energy prices globally and PRD sitting on three high quality assets in three different jurisdictions (Morocco, Trinidad, Ireland) but all of which are stable and all of which have open-water access to the key markets seems to me to have added significant value to PRD as a company.
Even if not, as yet, to the SP.
I take the view that the SP will sort itself out.
Until then, I am happy to wait it out.
Bottom line
Bottom line
Just to remind everyone how precarious Ireland's energy situation is. Short term, the quicker the new gas power stations are built and the quicker they approve PRD's and NFE's FRSU LNG solutions the better. Medium term, let us get on with drilling Ram's Head and Corrib South
https://www.thejournal.ie/power-stations-trip-eirgrid-5610594-Nov2021/
Ps. Whitegate wasn't due to be operational until 3rd December. I'd read in an energy industry journal that I can no longer find, that testing firing it up may well have caused Dublin Bay to trip.
Meanwhile
Gas prices rise further as Norwegian field cuts output
Sticking with energy troubles, natural gas prices have risen further this morning after one of Europe's largest fields cut output due to a fault.
Shipments from Norway are expected to slump by almost 13pc after the Troll field suffered an unplanned outage.
Benchmark Dutch gas prices rose as much as 9.6pc. The UK equivalent is up 9.2pc .
The outage piles further pressure on prices at a time when supplies are already tight. Worries have been growing over winter supplies from Russia as tensions with the US mount over a potential invasion of Ukraine.
Tom Marzec-Manser, an oil analyst, told Bloomberg: "Given the outage length is uncertain, this has added yet more risk to the benchmark price."
I was not aware that there was a history of year-end updates from PRD. It would not be sensible to release an update unless there was actually anything to update upon. In Morocco, although it is highly likely that a gentlemen's agreement has been in place for a long time, a large number of political and financial moving parts would need to be in a fixed position before a definitive RNS could be released. In T&T, a licence has been applied for, but the result is unlikely to be known until next year. For Ireland, nothing will happen until there is some political agreement manifested other than in vague and often conflicting statements, and their particular god is the only one who has any idea how long that will take.
I also would like to see something other than the chipping away at the share price referred to earlier, but have little options other than trust the management or sell. I will choose the former.
Totally agree mem and if you can’t do that then why would you be here ? We are all waiting for that game changing Moroccan agreement they are working towards. My amateurish expectation was an equity raise by now for the shopping list followed by the comprehensive settlement timed with aim move to create a new significantly higher trading range. Time enough to do that but they haven’t done it yet. I find that intriguing.
Remember PG's last words on the latest interview 'TRUST THE MANAGEMENT TO DELIVER'
That is what I intend to do, exactly that
The last year end ops update was on the 7th December 2020 and I would expect similar, any time now.
It may be the very recent 'landscape' changes holding it up while every item covered, is as up to date as possible.
BDT,
It is getting increasingly frustrating. From the September presentations my takeaway was that in Q4 21 we should be expecting updates on:
Funding for MOU4 & 5 drill
Funding fro Rigless testing MOU1,4,5
EIA approval for MOU4 and 5
Ordering Long lead drilling inventory
2D reprocessing model for MOU-4 fan
Evaluation of new gas opportunities
I have faith that they are working hard to realise the potential, but the lack of news is frustrating. it's been over 2 months since the last update on future plans (Oct 28 RNS was all past activity). I just hope that something is released in the next 3.5 weeks to give greater clarity of the plan for the new year.
Yup....really nice and quiet on all fronts, t&t, morocco, ireland and obviously from Prd Hq.....so the chipping away at sp continues....whoop whoop ( sarcasm)
And it looks like a sell, lol! I wish I knew about predator a couple of months ago.
GLA
Showing one trade so far, might have to give it some company.
Is rather lovely, whilst we await news. I cannot state with any clarity or conviction when a RNS will drop, but there will be an RNS, hopefully soon.
Au revoir for now
MEM