Member Info for Croxie

After this mornings RNS they are valued at £955m...not a drop of commercial oil extracted from the ground...

We are the Gas equivalent of PANR...Oh and we have oil too. remind me? what is our market cap?

One of my all time fav films GRH ... "Don't you, throw those, spears at me"

Whopper of an RNS

I think Lonny has been smoking the Moroccan black!

Incredibly cryptic but no doubt all will be clear soonish...

Ford - not negative, Comms from the management team have a history of being ambiguous and the need to read between the lines. We all know this. Just be clear! set expectation. "long lead times" - how long is long? are we gonna find out in August that we arent drilling this year because we can't source these items? tie previous annoucements to current ones. its about concise communication.

Ford - They could have said "POs for long lead items are being prepared and these items are expected to be received ahead of the planned drilling in August, but this date is subject to the rig being available"

TT - Its post balance sheet so should be as up to date as of today.

Ford - everything else was known already.

Exactly what i was thinking when i read it...."being prepared"...for long lead items....jeeeeeeeeeeeeeez

Love the update, but Challenger have a MC of c£11m. But i am sure there is a far bigger plan and nothing to do with recouping the £100m + from Challenger

Perhaps some of us will accept a dilution to get the projects moving forwards. He wants to raise money without dilution (he has stated this) - but perhaps the deal he wants just isn't possible. time will tell of course.

excuse my typos :)

I do question whether Paul is to conflicted in terms of being the largest shareholder. He needs to make decisions for the best interest of PRD, not himself and his shareholding. You can't always get the best deal, especially the game we are in given what we need to become business and not just a business potential.

Sometimes the best deal (in your eyes) is never gonna be an option...the real danger is no deal...which means no cash...no drilling...no business...

New might just be around the corner...but the next update can't be "Jam tomorrow" or "kicking the can down the road"...Raising funds is never easier, but over complicating it makes it harder. Bust raising money now with oil and gas prices at these levels must be easier than when oil was below $50 pb.

@matt - It needed to be asked. I had the saying "jam tomorrow" but words are just jam

yes Tesla - but they could have said that on the 8th March so clearly there has been significant development in the last 9 days

This from the RNS on the 8th March:

"The recent increased perception of the value of gas assets close to the European gas network has created additional financing opportunities for drilling and development that potentially reduce in the medium term or may even eliminate in the short term the requirement for significant shareholder dilution."

So what has changed in the last 8 days? I guess it depends on your definition of "significant" - but i suspect things are moving at pace and this £1m fundraise is just one of the steps towards the prize

Thanks Trifle - I was looking back through the investor preso's and what was said in September in terms of timelines

Surely if PRD are not going to deliver what they set out (and communicated) in Q1 then we either need to be told of the delays or just assume they will be delivered? I think we would have heard by now if the time table had slipped?

The key items being:

Admission to Aim
Drill Mou 4 and 5

retweeting my retweet of Elon Musk

Off twitter for 5 days now. this was a man who was engaged everyday. I suspect news on some front soon hence his decision to "distance" from investors

Clearly the SP slide this morning is to do with this mornings news...nothing to be with fundamentals - poo over $100 pb and gas price has jumped 41% this morning...all in PRD's favour