RE: Twitter9 Sep 2021 10:24
Cut and paste slide 10:
PRD is fully funded for all its existing commitments
• AIM Admission costs are also fully funded
• MOU/Guercif Appraisal & Development project is a robust, transformational,
large-scale project underpinning an AIM Listing
• PRD will appoint a CFO and an additional NED for AIM to assist with the smooth
development of the MOU Core Area gas project
• PRD has a large undiluted equity in the MOU Core Area
• The project is an attractive near-term investment proposition for the larger
Moroccan industrial users to reduce energy costs. Improve ESG credentials
can attract foreign investment in their industries for post COVID expansion
• Sensible for PRD to be commercially aligned with end users seeking direct participation
in the project at licence level - provides sustainable/secure access to gas
• Low appraisal & development costs are manageable for the larger Moroccan energy
users – PRD will seek funding for the project in return for a degree of
exclusivity over its gas resources & a commercially attractive Gas Sales Agreement
• Early stage discussions initiated