Member Info for cmcc4395

Sounds like waiting for Tain FID as expected...
Next 12 months anticipated NOI slightly above WHI's prediction last week which is positive

None of us know, and I for one certainly hope it’s one of the more benevolent explanations. But let’s be honest there are definitely less benevolent reasons for director sells after a drill and you’d have to be stupid not be considering those. Plus it’s hardly unreasonable or not pertinent to speculate about these on a bulletin board about the company and its share price.

He makes some reasonable arguements which may or may not be correct but certainly can and should be argued on the evidence, rather than attacking him for making them. We don’t know the reason for Ron’s sales and in the absence of an explanation they are clearly and reasonably a worry. The SP has fallen drastically since the first RNS (I know, I didn’t get in at 2c or 5c like everyone else seems to boast of and am totally underwater) and the fact is that the market clearly still doesn’t consider the drill a success and PG chose to dilute himself by raising prior to convincing the market otherwise. I really want to hope for the best interpretation of it all but I wish PG would do an interview and lay things out more clearly, if there is indeed a positive case to sell.

Anyone able to cut and paste the rest of the article?

PG really needs to do a market calming interview stat…

Interesting theory (there was a slightly odd run of almost daily RNSs). If they’d waited another few days the 14 day average would have been a good sight higher though!

YoyoMa why would you expect them to drag us below the (apparently oversubscribed) placing price?

Ps Be interested to hear Doc’s views on the acquisition generally.

Already closed?! So they gave retail investors like 45 mins with no warning?? That’s a bit of a stitch up isn’t it. I tried to buy some with a minute left but my bank didn’t accept the payment.

Just picked up more. If you assume the drop is not due to a leak of bad news (which the fairly light volume supports) then this is a good buying opp in my view. Lower than the recent placing price.

Many thanks, Doc, both for your research and also your calming influence when this was inconceivably drifting lower and lower after the divi announcement. You were dead right.

Responding to me I think. Thanks, they (the MMs) really do seem to play games!

Can’t buy anything on HL…

“Tariff negotiations with EDM, whilst taking longer than the agreed timetable, remain positive. We have received approval from EDM and other relevant parties to conduct further work on an optimised transmission integration solution that is expected to further reduce costs. This work is not expected to impact the negotiations and will continue in parallel with them.”

Sounds overall like the outlook remains positive, but equally the outcome not as close as we would all like.

Does CoS denote finding any gas at all, or finding a commercial amount (or something else)?

Probably 4.5 hours for the trip might be a trifle optimistic at that pace / those roads ;-p
Great to see it on the move and am appreciating the company keeping up the updates allowing shareholders to feel like they are along for the ride

(Responding to Nige’s comment re PRD being a mini conglomerate there)

This is very true and does give me a lot of comfort to hold everything into the drill. Even if MOU-1 is by a stroke of very bad luck a total duster, provided that you have a reasonable investment time horizon the chances of AT LEAST regaining the current market cap / SP via progress on one or more of the myriad other projects / drills seems to me to be very good.

Hopefully next placing we get some supportive instos on board who aren’t going to churn.
Probably now there is also a fair bit of (understandable) top slicing / derisking going on among those lucky few who got in at 4p or similar though as well.
Ps god there are going to be some sleepless nights amongst this BB prior to the first drill RNS landing…gets my pulse up just thinking about it

It’s a bit cryptic but I read the reference to “different shareholders” as a possible future carve-out and separate listing of one of the two business lines, with an in-specie distribution to existing SHs. But this would imply that they will hold onto their interest in the power project though which others think is unlikely

That’s helpful and interesting, thanks Sefton. I suppose the contracted CO2 arrangement with Massy also helps to provide “stickiness” and prevent contractors who build up the “secret sauce” expertise working for us striking off on their own. Although more pragmatically it sounds like there may be more opportunities coming up in T&T than we could foreseeable manage anyway..
Holding as much PRD into the drill as I can manage whilst also stilll being able to sleep through the night atm, and then a bit more. And I still have the urge to add! GLA all.

Morning all. One thing I noticed in the Annual Report was that PRD has no employees, only service providers (ie consultants/contractors I assume). I understand that there are all sorts of reasons for this approach and also that the value creation in the identification, scoping and initial advancement of oil and gas projects like in Morocco and Ireland can be undertake by a limited team of skilled and experienced management along with expert third party consultants, however in respect to building up the T&T EOR business for eventual sale, won’t Predator need to establish a significant boots on the ground operation, given that it will largely be practical expertise and delivery (as well as the contractual rights to CO2 etc) where the value lies, rather than (for instance) a derisked / appraised licence area as in Morocco? Does anyone know how many “service providers” we have in T&T, I couldn’t find this in the report? Maybe some of the placing cash will go to hiring and building up the operation in Trinidad? Sefton or others with deeper EOR knowledge please correct me on this if I’ve misunderstood where the value lies in T&T.
Ps Like others i was pleasantly surprised with the quality and thoroughness of the AR. Perhaps, as some have mused in respect to certain RNSs, the excellent level of detail was aimed at potential acquirers of the various projects more than PIs…