Member Info for Footandmouth

GRH - - - - “ I wonder what happened to the old GRF-1 well

#PRD. “ “ Back in 1978?? “

GRH - — - “ To be clear...

#PRD

Is to

1...

Develop its CNG business in Morocco...

With sales to in country industrial users...

Large scale and accessible market

ASAP”. PLUS

2.

They will utilise the GME pipeline ...
only 3 miles from site of MOU2 ...

To place (very substantial) excess gas
into the highly lucrative European export market. 3.

That's correct...

They really are doing both

PRONTO PRONTO

I hardly dare mention phrases such as

corporate action

or M&A “

WWP - - “ Which would make it per year
3 x is $477m
5 x is $759m “. Ignoring the rest of Morocco , Ireland , TT and assuming let’s say 15 years of steady production , what would be the valuation for outright purchase alone ??

Coulrophobia Keith. Apparently very common. Would certainly rule out a career in politics :)))

“ Significant progress in Trinidad to resolve historical issues to allow CO2 EOR to be re-launched “ - - - - - - - - - More than curious. Compensation in cash or kind ???? Very positive.

“ A few questions with regard to
PRDs outstanding RN today.

Who made contact ?

Can you supply the EU with Winter Gas ?

We are interested in your gas prospects near Corrib !

The Major CO2 EOR project in Trinidad is on !

energy.gov.tt/wp-content/upl…

Don’t take much to work out ! “

GRH - - - - - - - - “ 1.
#PRD didn’t have headroom shares

2.
PG/LB gave option money to company

3.
Had to be done
as they want to move straight onto MOU-3

4.
Long lead times are getting even crazier

5.
Lots of things moving
many interested parties
in all 3 assets.‘

So Keith an approximate net annual profit to PRD of $800m ? Every year ?

That is an astonishing figure Keith. !!

GRH. - - - “ I suspect...

1.
Star Valley rig is fully inspected...good to go.

2.
They are now getting all materials there

2B.
Vessel changes and route changes
are the way of the World at the moment

3.
It's on track

4.
Bloody incredible for a tiny team

#PRD “

GRH - - “See RNS of 8 November

The room for a corporate deal is beyond measure

Not only due to possibility of
hitting...or exceeding...high end CPR numbers

But I believe there are at least FOUR locations
within the licences that could prove gas

Of scale

#PRD “

https://www.bloomberg.com/news/articles/2022-11-21/global-lng-supplies-are-sold-out-for-years-top-importer-warns

GRH “ Have folk looked at nett to gross ratio assumed re MOU2

Its shown as about 13%

From memory ...MOU1 is about twice that

Other relevant drills yield far higher %s

I am not saying it will...yet!

But could have non marginal effect on resources and flows...

and capital values “. Every % yield improvement will multiply additional capital value. PGs conservative valuation approach increases chances of a surprise to the already healthy upside.

GRH - - - “ I am not saying it is...not yet

But ... is it possible that #PRD has identified a co****ning-upward megasequence ? “

GRH - - - “ Do we have 'E' ?

And do we have it across a wide area?

Frankly, it's the answers to those questions that will deliver wealth

Anyone remember???

Energy = Permeability X Porosity X Charge

A random old boy has been droning on about that

For years

#PRD “

Ian Cassel - - - - “ Which microcaps (sub $500m market cap) you own had the most interesting Q3 report and why?

interesting = inflection, transformation, acceleration, things boiling under the surface of the financials, catalysts mentioned on earnings call not being appreciated by the market “. Suggestion’s ??

GRH - - - “ FWIW

Special dividends are the return of excess capital to equity holders

It is very possible and proper
to structure any such SD

so that it is charged to CGT “. Excellent news for ISA holders of PRD !!!!!

Wacky on Twitter- - - - “ If Minister Ryan loses the energy portfolio on December 15th ?

A New Minister may be more inline with the need for gas security ?

I wonder what will happen to the SP ?

A sizeable re rate before the results of MOU1 & 2 are even announced ?

Envious Eyes ? “

Keith - Less than enthused. GRH - Rather enthused. Beyond my pay grade but generally when two people whose opinions I greatly value, disagree on an issue, I generally learn a great deal from the debate. :))).

GRH - - “ Q...

Several folk have asked me

WHAT will I do re my shares

A...

My position remains as previously stated ...

I will sell mine WHEN PG sells his

It should soon become evident WHY “. - - As a far less savvy investor I’m rather hoping PG will sell mine for me :)).