Member Info for Croxie

"Drilling operations will continue during March until all of the Company's pre-drill potential reservoir intervals have been penetrated.

No further announcements will be made until wireline logging has been successfully completed and the results have been fully interpreted following an independent petrophysical analysis."

I just don't understand why issue the RNS on the 17th given what was said in the RNS on the 4th? Is/was the news so compelling and price sensitive that it had to be released? Why is the rig and presumably drilling team still on site? whats next for the rig?

TheBold - do you hold PRD shares?

Topped up £5k at 2.64p

Just re-reading the RNS:

Commencement of MOU-5 drilling operations onshore Morocco

Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with near-term hydrocarbon operations and production activities focussed on Morocco and Trinidad is pleased to announce the commencement of drilling operations on 3 March 2025 in its Guercif licence onshore Morocco at the MOU-5 well site.

Drilling operations will continue during March until all of the Company's pre-drill potential reservoir intervals have been penetrated.

No further announcements will be made until wireline logging has been successfully completed and the results have been fully interpreted following an independent petrophysical analysis.

So "during March" and "No further announcements will be made until wireline logging has been successfully completed and the results have been fully interpreted following an independent petrophysical analysis." - So you have to expect results at some point in April.

Ambitious exercise price...

I also bumped in to Paul in Screwfix...he was buying a gas valve...presumably a bit of DIY over Christmas

With the short squeeze and heard arriving you might see more than that...we shall see

Some people don't always call it right...

To be far, Porter has a good point and echoes the post I made earlier. GO back through all the historic fund raise RNSs, look at what the funds were raised for, then see how many of those projects actually happened...

The people that won't listen to negative/balanced posts are the ones so balls deep in this they will do anything to hang on to PG's every word...PG has missed every deadline he ever set himself...Yeah, its all "fluid" and "moving at pace" but even a broken clock is right twice a day.

If we have investors climbing over each other to invest and we picked the "prized" investor - why the drop in SP and why raise at 5p?

I have a number of "favourite" lines in that RNS...but this takes the biscuit:

"The search has commenced for the next generation MOU-5 target onshore Africa. A new country entry is currently under consideration but it is too early to say if this will provide the materiality that the Company seeks when assessing new ventures." - How much jam can one be fed?!

Its one communication disaster after another...Spouting fully funded at every opportunity...and then a raise at 5p!...when the SP was touching 10p 4/6 weeks ago. The interview...absolute car crash...releasing price sensitive information (without a follow up RNS) on a 2 bit podcast.

Couldn't resist raising money at 5p at this stage to strength the balance sheet (but not forget diluting the hell out of investors) but somehow resisted at 10p!

I don't have the time but it would fascinating going back through all the old fundraise RNSs to see what he was raising the funds for to see how many of the actually happened or delivered anything.

The Fudsters haven't driven the price down! nor has it influenced sellers! The missing ever timescale and deadline he has set himself has driven the price down by people off loading shares and creating uncertainty in the market. I suspect PG would miss his own birthday and Christmas...being the only 2 certain days in his calendar.

Surely the interview follows the RNS and not vice versa (albeit we don't have an RNS!) - basic corporate governance for a listed company.

Simply, you saying something in an RNS (timing, planning, order of drilling etc) and then you back track in a interview is just not the way to run a listed business. you fall out with the market, or the market falls out with you then its hard yards to get back on side.

Maybe PG has a plan...but i've heard that before...and i have said that before...

"genuine investors" - behave!

The rampers and happy clappers are no better than the trolls.

As always it comes down to definitions. "Extensive operations at MOU-3 are anticipated to last for at least five weeks" - so the "extensive" work commences now or when preparing the site for sandjet testing.

We can look back and say we knew testing hadn't commenced but if you are honest, you didn't have a friggin clue!

From the 6th June RNS:

"Commencement of Sandjet rigless testing programme

The early stages of the Sandjet rigless testing programme have commenced with the arrival of some well services equipment at the MOU-3 well site and the preparation of the well for re-entry and perforating.

Extensive operations at MOU-3 are anticipated to last for at least five weeks before moving to the next well in the Sandjet testing programme."

It is ambiguous - Everyone, given what was said above assumed Sandjet testing had commenced. you could argue it "commenced" when work to ready the site started. The RNS should have said "Sandjet testing will commence once all the equipment to stat the work had cleared customs" or something along those lines. We all assumed, and yes all, that sandjet testing commenced 8 weeks ago.

Leaky ship...?

Anti_venom must be reading the RNS standing on his head. That RNS, is incredibly clear.

Try harder...that is a poor effort from you this morning

The board know the issues SH's have had with missing deadlines, set by them! I can't recall the last time they met one.

The presentation shows in the 1st half of Q2 - "Mou1, Mou3 and Mou4 rigless testing". its clearly in the 1st half of the Qtr as they have other items clearly indicated in the 2nd half of the qtr.

SP is drifting as always due to uncertainty on timelines.

That just about sums it up...