Hello All,
Firstly, when the share price previously dropped from 18p to 5p with no stated change to fundamentals, I saw it as an opportunity to purchase more shares and I would have liked that opportunity to have lasted longer than it did. So I see today's drop as another opportunity which I have taken advantage off.
Secondly, today seems to have been the result of nervousness mounting over the last few days due to a lack of communications from the Board. I'm in no doubt that everyone involved at PRD are working hard to make things happen here, but if nothing is noteworthy of an RNS be it good news or bad, then there is no reason to release an RNS. Twitter seems to have become the unofficial way of getting non RNSable info out to PIs and should be appreciated, but taken for what it is.
Regarding communications, I have previously been invested in a company, which went in for a lot of PI relationship building. It even won a market related award for best investor relationships. There were shareholder on location trips and glitzy shareholder presentations with razzmatazz. Regrettably razzmatazz is all it turned out to be. So from my point of view, no news is good news and silence is golden.
Next,I have previously been tempted to release funds from long held investments, which were relatively silent on their communications, and put those funds into other "exciting" stocks with near term prospects, only to find that (a) those anticipated near term prospects weren't as near term as I had thought and (b) the original investments price would suddenly surged before an RNS was released. Seems to be a fact of life that news gets out into the market before officially released. So in respect of chasing other opportunities, I have been there, done that and got the T-shirt, on the back of which should be the statement "Should have been patient. Could have had the suit".
Regarding PRD;
In Morocco, I am confident it will deliver, but as others have stated this is a business that can't be constrained by a rigid timeline, just where we are in a sequence of events.
Ireland I think should happen, although it may take some time as politicians need to have time to apply spin to make it appear they have gained a victory. Beat a politician in a game of chess and they are likely to try focus attention on the fact that they took your queen; which you probably had sacrificed. Hopefully they get their victory without feeling the need to impose some fiscal penalty on us.
So to sum up, unless there is news that the fundamentals have changed, or external forces have detrimentally come into play, I continue to hold and add. My thinking now is; When chasing a crown, avoid the distraction of Tearras.
Wishing all those who are here or who have left all the best.
AGD62
To Obadhia and others,
Apologies for my last message on Friday, in which my basic geography of Africa had gone completely to pot and rendered my message utter gibberish. My only defense is that I've been out of sorts of late and my mind must have been adversely affected.
ATB
AGD62
Hello Obadhia,
I have thought about that also and purely guessing, that it may possibly do with, amongst other things.
1) cementing stronger relations with their southern neighbour, by sharing access to the facilities Morocco wants to build
2) combined bargaining position for international trade. can't so easily be played off against each other
3) increased longevity of the supply and thereby the associated benefits to their own economy
4) Possible improve relationship with Algeria if it sees there are economic benefits joining with Morocco and Nigeria in an energy hub.
ATB
AGD 62
Hello GRH,
Thanks for your e-mail. Unfortunately I'm on the other island, Guernsey and only occasionally get over to Jersey. However if I do this year I will make a point of popping into La Capannina. I'll gladly undertake research to validate your recommendation. (Which I'm sure won't be a disappointed). As far as running goes, I'll leave that to more energetically inclined.
Regards
AGD62
Hello Keith Oz,
Thanks for your reply and I agree that it may not be of importance. However, as I happen to be in the Channel Islands and work with a company that has numerous businesses registered at our office as we administer those entities and this is common across the Channel islands (Jersey & Bailiwick of Guernsey) may I say that it is not a matter of just a name plate on a wall, although operations are elsewhere globally. Therefore for PRD, it will be a matter that it has physically relocated its administrative operations and this appears to be to a more predominant position, location wise. Now this is either nothing more than a change of scenery (Old office to small, or being revamped) or wishing to be more visible, with which I would read into it a growth in confidence. I'm just putting this out there as I have some knowledge of St Helier layout, which I suspect a number of board members don't share. Anyway I won't comment further on this.
ATB
AGD62
Hello BDT,
I was supposed to catch a ferry from Zeebrugge that day, and would have arrived about the time the HoFE sailed. However on a whim I decided to fly to Gatwick instead and then a coach up to Leeds.
No one had any idea about the deviation from plan and there was a family fluster until I contacted them later that night.
AGD 62
Hello All,
Just coming at this from an unconventional angle.
The situation with Russia has fired the starting gun on a sprint by the European Governments to secure a non Russian source of energy and the earlier movers will secure the best deals. ONHYM have a 25% stake in the various exploration companies in Morocco, furthermore Morocco has a vested domestic interest in the success of any exploration and more so than last week if it can secure an early energy supply contract to one or more of these European countries which in effect puts them into the race as well. Therefore if I were on the board of ONHYM I would be contacting all the exploration companies to see what could be offered to help facilitate early success. Likewise if I were on the board of one of the companies I would be contacting the ONHYM to see if some kind of funding deal couldn't be fast tracked for the joint mutual benefit. This keeps the funding in house with already vested parties. Within this framework there would be numerous options available to explore.
More to follow but guests have arrived
AGD62
Hello All,
In reply to queries this morning about Jersey tax. Jersey does not have Capital Gains Tax. It has personal Income tax of 20% and unless Jersey resident there is no Jersey income tax liability.
Therefore I would expect any distributions from PRD to be of a capital nature.
Happy to be corrected.
Hope this helps .
AGD62
Hello Scott126,
I don't post very much on any BB and I'm less inclined to be drawn into discussions.
Thank you for all your input on this board and especially for yesterday which clearly took a lot of considered effort and time.I considered it well worth the read.
Ignore those who are clearly out to bait you. (I'm filtering GS as I don't consider him worthy of engaging with, he wont be alone).
Wishing you all the best.
AGD62
Razorman,
Interesting that you say you are happy to sell out for 30-40p (which I think is a repeat of an earlier post) yet you then oscillate to talk about recovering previous big losses. So you have chased big hopes before and yet seem willing to let this potential huge one get away from you?
Hello Obadhia,
Should we ever receive an offer of £1, I firstly would hope that PG and the board would recommend that it be rejected and secondly if anyone were to consider this a good offer to sell their shares on the market, which undoubtedly would have overshot in expectation of a higher offer, without voting and thereby making their shares available to those who are inclined to support the recommendations of the board and the expectation of a much better offer.
Wish you the best with your investment decision.
AGD62
Hello All,
After reading todays' e-mails. I think it would be really helpful to this BB if people used what I call the Mark Twain defense and avoid arguing with a fool (Decide which one you are and keep it to yourself). This is also closely linked with what I refer to as "the last word" syndrome.
Please lets return to healthy dialogue.
AGD62
So very much tongue in cheek,
The Irish Greens valuing their principles over economic reality, refuse to import fossil fuels, fracked or otherwise. The Data centres give up and look for a new location... such as Morocco which suddenly has an abundance of gas, which not having to be transported or sold onto third parties makes it very attractive. Then the Morocan state realising that they will have to deal with carbon emissions approach a certain company already on the ground about dumping those the emissions back into the ground, and creating a loop all within the country.
Meanwhile the Irish data centre workers, being with requisite skills but no work, all migrate to Morocco thereby increasing the demand of gas for private consumption. This leaves Ireland no longer having such a demand on fossil fuels, which allows the Greens to feel that they can claim a victory and beheld up as an example of how to get global emissions down.
To paraphrase from the film "Oliver" ...I think they'd better think it through again.
AGD62