Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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We have two persons only working full time on three active operations, on three different continents.
Ludicrous. A poorly structured company that demands an impossible workload from these two and in turn incurs delays in timetables and errors in procedure.
PRD have a chairman that additionally takes on the role of CEO/FD, a sole supremo who, by his own admission couldn’t make a scheduled trip to Morocco due to work processing regulatory paperwork, annual report, financial statements. He is now there, late.
Is this situation acceptable after 5+ years, growth to a £50m+ company with a world class asset in the making? Would it not be sensible, and certainly affordable at this stage, to employ at the very least a middle manager to progress chase and oversee company administrative requirements? PG/LB with their Moroccan connections especially must know of several ideal candidates.
The company continuing in this present highly limited and unattractive structure imo is a disservice to the common shareholder and for some a big negative in attracting new investment.
To quote the obvious, as time elapses current funding collapses.
Obadhia,
I've said similar about our 2 man band spinning 3 plates in 3 continents. It doesn't stack up whatsoever and IMO dilutes the attention ( and the bank funds!) that should 100% be focused on Moroccan assets.
Squad is out again spreading negatives. Please sell up and move on if you own shares that is
Day after day night after night, tiresome!!
Agreed
Obadhia is just a tiresome troll peddling 💩
Into the bin he goes.....
Pv72,
You told everyone on this forum you binned me a few weeks back. You are a liar.
Never trust a liar!
Please make sure you do it this time.
Pv 72 posted........ Agreed,
Obadhia is just a tiresome troll peddling 💩
Into the bin he goes.....
Anti V then posted......Pv72,
You told everyone on this forum you binned me a few weeks back. You are a liar.
Never trust a liar!
Please make sure you do it this time.
Conclusion, either Obadhia is also Anti V.
Or Anti V can't read too well, probably why he struggles with understanding company announcements or educated and informed posts.
End of the day a embarrassment for the hitman group.
Hi CCC
Always nice to know when you're living in a useless trolls head rent free.🤣🤣🤣
I can assure all AV is in the bin and will stay there for the foreseeable. I'm firmly of the opinion that you can't polish a 💩, and even if he tried to roll it in glitter, it would still be a steaming 💩.
Have a great evening all and I reckon the wait will be worthwhile for all genuine holders. GLA
Pv72, CCC., Andydaw
None of you are worth the time engaging so I'll make this short.
I raised a genuine concern regarding an area of business that I believe affects rate of progress, a viewpoint on which you could sensibly interreact.
Instead of any attempt to discuss you automatically label me as a troll, first time I've heard that accusation in 12 years posting here. As a PRD investor into my 4th year here holding well into a 7 figure holding I find your attitudes insulting, childish in the extreme and alien to a well-conducted board. The sooner you come to your senses by recognising alternative views could be good for discussion the better.
That's it from me, try having a calm day.
Hi Obadhia, I agree, PG has done a great job to get us this far, but the Co is growing, PG needs to relax his grip on his fiefdom and allow a small middle management structure to be carefully crafted to enhance the logistics/management of the Co.
After PG’s mea culpa/taking his eye off the ball, PRD are approaching a vital crossroads of testing, drilling MOU-5 and testing, everything needs to run like a Swiss watch.
It is remarkable 2 blokes in a small office have achieved so much, driving the Co forward through many hurdles inc Covid, but now would seem the correct time and prudent to add a couple of skilled logistics experts, leaving PG and Lonny more time to execute our corporate plan, on time and on budget.
MEM
Hi MEM
I prefer inflection point ... not crossroads :-p
Currently bored in airport lounge thought I'd drop in here hoping for some intellectual stimulus alas now anaesthetised ... suppose a BM or two worth trying 🤔
I stand corrected ‘inflection point’ is more accurate :)
I have not always agreed with Obadhia but I think that his contributions have always been reasonable and well argued (and always polite and not hysterical).
And thus valuable.
We do have some resident trolls/Klingons but they are usually fairly easily identifiable and thus easily ignored.
I would hope the leadership team at PRD do read some of the posts on here that are not negative but suggest that there might be some areas that could be improved.
And I think Obadhia has raised some of those issues - and I think they are well worth the leadership team considering.
It can be quite easy to get into "the Emperor has no clothes scenario", when no opinion or question is tolerated.
We should avoid that and I certainly will continue to read Obadhia's posts.,
Morning Obadhia.
I believe you have misunderstood my post, i was highlighting that Anti V had posted that he was not blocked by PV72 after PV had posted he blocked you, therefore implying that AV was your goodself. ( hope you follow )
I also indicated that AV doesn't fully comprehend written comments too well.
My apologies if my post was not clear enough and was taken the wrong way.
There is a clear distinction from a reasonable counter argument to those who just want to cause disruption.
Afternoon Obadhia and all,
Just a few of my thoughts on our current management team…
Although on paper it may look as though PRD is just Paul and Lonny, I do think it’s worth recalling the very relevant skill-set of our non-exec team, and I’m sure that all the NEDs will be making an invaluable contribution during this vital stage in the company’s journey.
Moyra Scott is the Drilling Manager in Morocco and NED (although not stated as such on the PRD website) and is strongly aligned with shareholders via 3 million options (exercisable at 10p) [as per the RNS 29/3/23]. Her experience is considerable and she’ll undoubtedly be working closely with Lonny on all operational matters on the ground:
https://polaris.brighterir.com/public/predator_oil_and_gas/news/rns/story/x5zgq0x/export
“Moyra Scott has an MSc in Petroleum Geology from Heriot Watt University Edinburgh with 32 years of experience in the oil industry. She is a highly experienced Senior Drilling Engineer and Well Delivery Project Manager in Europe and Africa. Previously she has worked with BP, Tullow Oil and Lundin Petroleum amongst others.
From 2021 Moyra has been responsible for executing two drilling programmes for the Company in the Guercif Licence onshore Morocco and is currently planning the next phases of drilling for 2023.
Moyra is expected to lead the Company's operational well planning for Trinidad too...”
In addition, both Alistair Jury and Carl Kindinger bring a lot of experience, and Paul and Carl appear to go back a long way (to at least 2006).
https://www.predatoroilandgas.com/about/directors/
Carl’s experience is likely to be particularly invaluable over the coming months:
“His experience has been gained in small and medium sized companies in Africa, the Middle East, Ireland and Romania. He has participated both at executive committee and board level in strategic decision making. His major achievements include identifying, evaluating and promoting major investment projects, raising finance in difficult circumstances, a tax saving-led equity and debt restructuring, and mergers and acquisitions. He is seasoned at high level negotiations with JV partners, suppliers and principals. He has considerable experience in Stock Exchange and IFRS reporting, IPO requirements, business plans and performance evaluation.”
Clearly, the near-term focus will be on Morocco and I don’t think either Ireland or T&T will be a distraction. In particular, the workovers in T&T can be undertaken without Paul or Lonny needing to be in-country, as per the RNS 26/1/24:
“Cory Moruga planning work is being progressed in Trinidad this week to put in place a small operations teams to implement the proposed workover operations after planning is complete and environmental approvals have been received.”
(cont... 1/2)
(cont... 2/2)
The other issue to consider - and I’m thinking very positively here – is that, should upcoming operations proceed successfully, then sometime in H2 this year we may find ourselves the operator of only one project i.e. Cory Moruga. PGVL may well be sold leaving us with non-operator stub equity in Morocco, and Vermilion (presumably) will take over operatorship of Corrib South should the SA be granted (and the other Irish assets require minimal oversight at present).
So I realise that PRD looks like a 2-person team but it’s really (up to) a 5-person team (as required) and a team with significant experience in relevant sectors all of whom I’m sure will be positively contributing to the company’s activities during this busy time.
Finally, a comparison between CHAR and PRD has often been made on various metrics and I feel that the difference in sizes of the respective boards and management teams (and therefore salaries / expenses etc) is also noteworthy. Importantly, I certainly don’t consider that CHAR’s higher head-count has in any way resulted in improved outcomes or adherence to stated time-frames:
https://chariotenergygroup.com/about/board-of-directors/
Others clearly have different views on this and I respect that but, ultimately, this issue, IMO, comes down to trusting Paul’s judgement with regard to him deciding if additional personnel would add value; at this time, he clearly thinks that this would not be in the best interests of the company and shareholders.
All IMO, of course.