Member Info for Cephalo

However, I should have said in my prior post, that's in the case of a whole company buyout. If what's being inferred here that a deal gets theoretically done for Moroccan assets, the company is not bought out but a special dividend would have to be declared, leaving shareholders who buy after the date of announcement with just TT and Ireland.

Interesting thought, there are many cases like that where a deal sends the share price on a one way instant trip to the deal price, at which it hovers minus a tiny spread for those who trade out prior to closure, and at which point you missed the boat.

I suppose that's why someone just bought half a million shares ;-)

Jaebae, I’m afraid there’s no shares left, all sold out. Next on the book is £ 1.48

It could lead to a payout greater than Euros 100m, there's precedent I think for valuing the prospective resources opportunity losses, over and above contingent resources.. I forget the name of the Italian case, but didn't they?

True enough Foot&mouth, it's all possible, I wish we knew what is coming though ;-) Keeping an open mind.

Meant to say - the deal with Equiom doesn't mean they have latched themselves to a financial teet.

Wealth management is entirely separate from raising equity. Larger companies need sound corporate governance. PRD is large in that it is geographically widespread globally. Growth will make it financially large in terms of assets, capital and reserves. The company appears to be expanding or preparing for a deal, that requires sound governance. They have latched themselves to a financial teet.

It's got nothing to do with funding, it's about corporate governance.

Barryroe conveniently near cork too.

The sooner the Labour and conservative, green, Lib Dem’s, SDP, SNP etc are destroyed the better. Until that time we are at the mercy of eejits

Watching the Labour Party implode in response to the Reform conference in Birmingham was nothing short of a delight. They ought to be arrested , particularly Lammy that grifting criminal who spent more money on flights and dinners than all of our foreign secretaries put together. Deputy prime minister from one of the most corrupt continents in the world, not even English.

I suspect we may not need to wait for movement until MOU6 is drilled. Just a hunch but I sense there's a lot going on. And news flow will also likely come from Ireland in the near future. Revenue from TT may surprise as some have said - the company who sold it were saddled with liabitlties and debt, and we have none, and inherited none, furthermore I think we inherited the tax loss offsets (?)

The placing was done at 5p so this cannot be forward selling. I remember just before GKP took off it was frozen at 11/12p for months while the company they raised money on a debt 4 equity offloaded their 9/10p shares or whatever they'd paid, at 10-20% profit. That was a forward selling move. The share price is less than the 5p so it cannot be the case. i think the share price is however being 'managed', and there may be a multitude of reasons why including to allow parties to buy in at these levels without making it appear they are buying, and without destruction of the share price. Of course there could be a short in place as Swizz suggested.

Thanks for that donalb, very interesting to know, and for your thoughts on it O65. It will be an interesting month ahead. If the mud get cleared out and the well bore perforation charges didn’t damage the surrounding sands or fuse it all together into a big lump, then the well could possibly still be used to produce first gas from the shallow sands. Presumably they would otherwise make mou6 a dedicated well for the shallow A sands, using pre-perforated tubing and perfectly balanced mud.

“The MOU-3 well is currently the focus of rigless well testing activities following the perforation of the shallow "A" Sand and shut in of the well to observe for potential reservoir clean-up and pressure build-up over time”

“In September we will review the data for the perforated MOU-3 "A" Sand interval and prepare to plan for the next phase of operations."

Will that 8% overweight mud be pushed up? If so, where is it disposed? What pressures would it imply in the A-sands if it happens and the pores are unimpaired once more by repairing itself? If the well is shut in, they must leave room for displacement, right?

All good, but show us da monee now m'n!

Gudin - 'There is still the $4m of liabilities issue to sort out due in 12 months also'

- no, "Following Completion, the West Indian Energy Group Limited ("WIEGL") has assumed all previously represented liabilities, provisions and potential exposures of CEG Trinidad's business, assets and operations in Trinidad and Tobago (which for the purposes of the transaction were agreed to be US$4.25 million), with the effect that the Company has no residual exposure to CEG Trinidad's business and operations".

Deal means PRD automatically book the 2P/2C unrisked Contingent and Prospective oil resources of 14.31M barrels of oil. No company debt. There are few if not no other E&P companies currently in such an enviable position.

'The total purchase price is $2m including $1m already paid plus the future payments of $1m. Total $2m which will take 2 and a half years to recover the outlay with revenue of $800k it's not difficult.'

- If they owe $1m, it will take just over a year at $800,000 pa.

"as at completion, Challenger Energy Group Plc ("Challenger") has been paid US$0.5 million in cash from uncommitted funds in the Company's working capital forecast; and

Challenger will be paid a further US$0.5 million in deferred consideration on 31 August 2026, US$0.25 million on 31 December 2026; and US$0.25 million on 31 December 2027."

This clearly says there is $1m outstanding not $2m. Okay so, 500k is end of Aug 2026, then 250k eoy 2026 and 2027. Presumably the rest was in warrants, that's already accounted for.

In that period, I would expect the workovers to substantially increase the revenue based on their projections it could double it or more.

....If the annual revenue is $800,000 tax free, I shall leave it to you to do the math Gudin, but here's a clue - 11 months until they have to pay $250,000. Assuming a revenue of $800,000 pa, what is their total profit for that period, taking into account that payment?