Member Info for Cephalo

Wouldn't have had a placing without an unexpected expansion of the work program I guess. Seems reasonable

Tightest I’ve seen it

Does the fate of Predator now rest with one small perforation explosion? I hope they are careful. Gives a new meaning to boom or bust.

PRD hold 75% of the license and they will never retain this beyond a certain point. Ramping up to the next stage of exploration and development requires funding. So, a deal by now is all but inevitable. It's a matter of what percentage have PRD had to relinquish to finance the current work plan. With all the activity, it would seem things are going beyond the Mou3 testing.

I don't think people should expect a dividend, but a significant payment to bolster the company reserves would underpin a share price in the 25-30p range. I am very keen to see what royalty/ free carry percentage can be retained. That is the key to an explosion in value.

Eventually the Moroccan government will want the whole license, but it would be a coup to get 2-5% long term free carry on the rest of the project because the share price would achieve value beyond £1.48, either by virtue of long term dividend payments ad infinitum, or a buyout . The longer it is left to buy out PRD and their retained interest, the more valuable it will become, as initially it is only the perception of a sleeping giant. Interested parties with very deep pockets could be multiple kinds of investors. The more time that passes, the more is proved up. The government and other parties and PRD know this. PRD will not be holding Moroccan assets for very long in the above circumstances.

It's easy to find, but for the spoon feeders.

https://www.reddit.com/r/PredatorOilandGasPRD/comments/xqaeza/prd_the_sleeping_giant/

I thought the debris flow was to sticky to get through, but curious as to what the well revealed if that's what GRH says

Looks like friends and family buying in Morocco, great to have had that post from -Jasper (?)

49416 is mine

With the slightly unexpected salt cap skewing the measurements in mou5, and the need for further seismic to accurately delineate the entire structure I get the impression that PG is as methodical as some have pointed out. Then of course there's the new 30 m Jurassic interval + the helium discovery! I get the impression that since GRF-1 in 1972 that wherever you stick the drill in the region you find thermogenic or biogenic gas. I think I understand why it's important to delineate the findings , to find the optimum well locations where you can access the whole lot with the precise number of wells, rather than blanketing the area with many.

Interesting. It's one big connected mass, one producing well can eventually access the lot. Then mou5 can concentrate on helium.

It makes sense for PG to play cool over any farmin deal for mou3. Seems no accident commenting that market conditions haven’t been great, and the fact there is infrastructure being built over the same timeframe he anticipates first gas. Both things suggest he is not under time pressure locally. He doesn’t need to accept a low ball offer if the company has no debt and that meanwhile he is making a show of setting up TT for revenue generation within the next 1.5 years. That said, nothing to say a good deal may not be slipped in much earlier than end 2026

Interesting thoughts. It's likely the payout in the case of successful legal action would be a dividend for shareholders who would only be eligible if they were holding pre-share suspension. If this is the case holders would lose this by selling in advance of any outcome. Therefore, a commitment to legal action or positive signals that the LU will be re-instated will create solid support to whatever the share price upon re-admission. Significantly a huge % of shares were already firmly held.

“ Trinidad and Tobago’s newly appointed Energy Minister, Roodal Moonilal, on Wednesday said the government will launch a national symposium aimed at streamlining the country’s energy project approval process, in one of the first policy initiatives of the new administration in the sector”

And it seems from Malcy reporting on both PRD and Challenger that both sides are willing and waiting.

It would appear nothing untoward in the handover apart from the slight delay.

Its probably only a matter of time, and I suspect the discussions on general policy and regulatory framework have been going on ever since O'Brien replaced Eamonn Ryan as Minister for Transport and Minister for Climate, Energy and the Environment in Jan 2025.

The policy has been that no new licenses are to be granted for exploration but existing licenses are supposedly being honoured. I know this isn't exactly the case with PRD as far as exploration, but seems everything is on hold. This policy was always treated with contempt and cynicism by Ryan who washappy to extend existing wildcat licenses - for the fees I guess - but when it came to actual discoveries entering into production, he would magically find a way to cancel the license so no oil and gas could actually be extracted. (Noting the Barryroe saga here).

It isn't surprising that farminees are skeptical and I suspect they all want the new minister to clarify the latest position so that companies can move forward. I know Swizz has an ear for these developments and it would be interesting to hear his latest take too.

Flombo10 posted the article yesterday on EOG, it pertains to Inishkea West.

The email said the Geoscience Regulation Office (GSRO) was meeting with Europa “to discuss progress on their exploration license” on May 22.

“As such, the GSRO does not see the need for the company to meet separately with the minister on their specific licence, as they have requested,” an internal email sent from a principal officer in the GSRO, said.

“If any meeting was to go ahead the focus should be on general policy / regulatory framework rather than specific licences,” the official added.

It might well create greater urgency for a deal, and while Griffith previously stated this investment was not for the majors like in the hey day of OandG deal making, that might just change. He had suggested any farm out deal might be an internal deal with a company doesn’t have such deep pockets of 100s of millions, and may require private equity backing. If there’s already an interested party making a deal concerning mou3, perhaps the farm out of 3D seismic, or other, may just become a sooner prospect if other parties come into play.

Don't get too stressed Flombo, all will become apparent. The rest is discussion and speculation. Cheers

Flombo, there’s a subtle difference. They are not raising money to purchase an asset. They are doing a reverse takeover. Raising funds is separate, which is why your first statement was written to appear as factual but is in fact misleading.

Flombo, where does it say it needs to raise funds specifically for a purchase of an asset? It says the following-

“ The Company is focused on progressing to the next phase, which involves successfully completing the planned reverse takeover and achieving admission to AIM. The Directors are confident that the project envisaged post-completion will not only enhance shareholder value but also significantly strengthen the Company's overall position”

Litigation funders were discussed, did you get mixed up?

I would expect the claim to go way beyond 100 million due to the opportunity losses. The figure only accounts for the value of the current contingent resources, and excludes the rest of the licence’s exploration potential, such as the extremely pressurised deep Jurassic. The reverse takeover ought to be of LG’s Barryroe entity company, that way they could capitalise on the ECT legislation, and prove they always have had the resources to find finance for Barryroe.