Member Info for Croxie

In the know about what?

Yawn off

GG - what bit of the RNS didn't you like?

I thing Paul and Lonny want to keep this off the radar as long as possible...thats not going to be easy!

And not starting the RNS with the words "Predator Oil and Gas are pleased to provide...."

The fact that the rig is still on site and costing money to stand still is clearly encouraging. not "plugged and abandoned".

None of us truly understand what that RNS is saying. But PG is prudent with the cash, so take the rig being on site still as a positive given the overall flavour of the RNS.

I am one of those Matt! sitting on an average of 38p, getting hammered by the shorters..could be fireworks if/when they need to close. Average here of 6.5p...looking forward to an interesting January!

GLA and a Happy New Year when it arrives

Read the RNS which sets out the reason for raising funds at 8p. I suspect part of the funds raised are to settle the $1m. PG normally one step ahead...so lets see how they propose to fund it

Although you are spreading the PRD "word" on Twitter hey Chesh...(all the best) ;)

The facts are, PG sold shares (indirectly) on the 17th July for 9p and the explanation was to avoid a conflict of interest with the development of PRD's "Green Energy" plans.

30 days later PRD raise £3.3m at 5.5p.

Early/mid July Lonny went on a couple of twitter rants which alluded to things and clarified some other points.

Now i am not suggesting any wrong doing, but what PRD need to do is conduct themselves better and stop leaving themselves open for the type of stuff going on in social media.

Stop leaving things to question. Don't tell me its because they are restricted to what can be said, if so, then Lonny should have his twitter account removed by PG!

Pretty relevant regarding lead times and costs:

Drilling operations at the Alkaid #2 horizontal well bore have now concluded, reaching a total measured depth of 14,300 feet ('ft') which includes a lateral length of 5,300 ft. A 5 ½ inch liner has been run, set, cemented at the bottom and tested for integrity. Pantheon, like all companies in the oil and gas industry, is experiencing significant inflationary cost and supply chain pressures at present, and hence is extremely pleased that drilling of the lateral section was accomplished smoothly and without incident.

"Furthermore, the loan of shares to the Company reduces the impact of pre-drill dilution for all our shareholders and allows all shareholders to benefit from a potential uplift of the value of the Company on announcing the drilling results"

So i assume PG will take his shares back after drilling results

As I have said previously, you leave yourself exposed to a fume date and this is what happens. A FR at a 30% discount to a share price already deflated.

Yes we retained the 75% but i can't recall a FR where PG has got it right. All his eggs in one basket for a JV/farm in which clearly hasn't happened so only option is to go to the market with a fume date looming and bingo! hammered.

Sorry that was £1.5m cash at 31/12/21 not 31/12/22

Lonnies shares vest on 31st July 22 - 7,855,486 shares @ 5.66p

£1.5m cash at 31/12/22
£1.0m placing 17/03/22
---------
£2.5m
(£1.5m) Annual overheads
---------
£1.0m Headroom available

Then we have $1.5m deposit with ONHYM refundable on delivery of minimal work commitment
and a loan due from FRAM for £590k (which is now in litigation)

This is how i see PRD's cash position:

£1.5m

Nick - Fume date is when the cash runs out. A fume date is real! and its a companies (with no income) worst nightmare. because you need cash, and your potential funders/investors know this and therefore you lose your bargaining power.

Yes you can always raise funds via a placing but at what cost? I said this before, but PG wants the best deal possible for shareholders (himself included), which is great. but don't be stood at a fume date with no funding or investment becasue then you are truly screwed. no doubt, I will get shot down for this but they need to come up with a funding route asap.

But also, PRD will run out of money. So why not wait until they are really desperate...Unless there are a number of potential investors/partners in the mix. I suspect the fume date is December at the latest.

Morning Sefton - my split is roughly the same as yours. holding at average of 40p in PANR and here at 6.5p.

EOG's RNS this morning is interesting. retained their licence in Ireland.