Member Info for ericnat17

The Company remains well positioned for the second half of 2019 with a 30 June 2019 cash balance of £11.1 million.

The company had 11 million in the bank in July. And no operational outgoings.
This story is BS

If JP is undertaking a placing it is will be concerning RGM or NOUG.
Maybe he is getting involved with EUA....

What a load of BS.
They have no debt due until 2021
They have plenty on cash in the bank.
They have a cornerstone investor with deep pockets.
They have basically zero operational outgoings.

PS

If sound goes back to 6p on the signing of the deal, which I think is a given. Then that is a 100% rise ergo significant.

Crude

That’s only 1 rise every 2 months or so. I think even at my age I can manage that. The erection of the well targeting the oil field may cause a gusher.

Ps
IMO I can see a rise when the deal is complete
A rise when GSA signed
A rise when we announce the new exploration campaign with high COS
A rise with each well result
A rise at first gas
A rise at first dividend

Let’s wait and see....

Good point green dragon.Forgot that part. But if they did kick the bond down the road, or did something fancy with Sidi. That could still give us the 2.5 p dividend. I am pretty sure the pension funds behind OGIF will be very keen to get something relatively soon.

Great find a Ducati

The recently found gas in Tendrara in eastern Morocco would cover up to 30% of Morocco’s gas needs, said Energy Minister Abdelaziz Rebbah.

Full steam ahead

That can get paid out of the initial $112 million with ease. And that still leaves $80 million left over.

Now I am not going to say that they will distribute all of that in a dividend but if they even distributed $30 million. That is a dividend of 2.5 p per share after costs.

Ok

Sidi - my guess is we will farm out. Hopefully covering the small area of seismic and one well. Therefore zero outlay. We may end up with a 30% share for that.

EM. We will have to pay 23% of the well costs. Each well is approx $7 million, so our share is $1.75 million. We may undertake 2 a year, so that is 1 tenth of the revenue.

Also remember that we are carried to first gas
Pipeline
Wells
Processing facilities
Tie ins
Legal costs
Everything
Also there maybe cash left over for some initial exploration wells.

Hope that helps

Sounds good for real shareholders who are looking for some sort of potential return on the investment. But I completely understand that it could be seen as Less than Perfect for people who are looking for £££ per share, or people looking to demand the head of JP, or .....

I would assume We have the Moroccan investment fund, royal family, government and the worlds largest oil and gas service company backing the asset and the deal.

The deal provides early monetisation of a substantial part of our established gas resources( $112 million) and retains upside for real shareholders through both future gas production and further exploration drilling.

So big chunk of cash , followed by approx $30 million a year for at least 10 years (25 year production concession) and the further exploration upside drilling at EM and Sidi.

Let’s see the details of the deal, then make a judgement. The 2 biggest institutions are now in the chairman and CEO role. JP has bugger all shares compared to them.

Yeah right. You guys are even more desperate than I could have ever imagined. Needy does not even come close.

I would imagine that a if anyone wants to be part of the group all they have to do is email trellis. They could if they wanted, make up the amount of shares they own.

Does that sound familiar. That's why the SAG is only at 4%. And how many are real shareholders. No one knows. Maybe half, who knows, maybe less.

Yawn

Maldini

You could change that to “WE reap what THEY sow”

Trellis, can you answer Jez question. Did you demand the head of Parsons?

Completely understand if you are not willing to say on this BB and you prefer other mechanism for getting the message out.

M

Just like government Leaks....

I have already guessed what the next steps are..

All very convenient

Jez you “ respect Tom and his views.”

OK good look with that, you have looked at his history and what he has done in the past.

We have the Moroccan investment fund, royal family, government and the worlds largest oil and gas service company backing the asset. and we have Tom W and his new mates on the opposing side.

Have a look at Tom W Wikipedia page, would not want or be associated with that character. But hay you make choices and now you will be for ever linked to Tom.