Member Info for Footandmouth

I don’t think the remaining investor base in PRED will reflect the broader market. I think it’s much more curated. Regarding markets they represent human behaviour on an enormous scale. Look at what people do not what they say is imo far more instructive.

The share price was powering ahead yesterday and the usual crew turned up. Not rocket science 🚀🚀

No expert here but right now the market seems to value PRED as an agile small producer in TT with less than £4 million net profit ??. Harsh to say the least. We wait in Ireland for news soon 🙏.Would someone buy the waiting ticket from us ? Is there a value in it before any government decision or even after a negative one ?? . I tend to think yes but no idea of how much. Then of course Morocco. With happily flowing gas in the primary fan the dandelion and burdock would be to the back of the cupboard with the blue nun and its premier cru all round. As for the wider license with success there it would/will be astonishing for whoever achieves it. The market I think in part reflects the massive and perhaps very premature expectations that many of us have placed on this share with our own personal timelines . There’s plenty still to come imo.

MOU 3 - - We drilled under balanced and lo and behold the gas flowed into the well. PG. 🚀

Rob timescales and for that matter mou5 results are anyone’s guess 🤷‍♂️. I’m genuinely sorry if that causes you any additional problems. Suspect you are not alone. Fairly soon we should know much more about Mou 5 / MOU 3 and of course Ireland. Fair chance there will be some good news amongst all that. I don’t think the share price is a reasonable reflection of what we have and where we are so I’m optimistic of eventual significant uptick. Any prospective purchaser/ JV player will obviously pour over all the technicals with many questions asked. Indeed AG are keen for bigger exposure than Paul wants to give. That may just be a negotiating tactic but it does imply confidence on both their parts. If outside parties thinks mou5 drill could have been adjusted to very great effect then they will see that as an opportunity to add quick value. I’d love to be the 75% owner when the doors are blown off but that will be dependent on the CNG deal. With success I think the figures for that alone will cheer us all up.

CHRIS ask's. .. . .. Hi Graham,

We know PG's always tried to do things as 'cost-efficiently' as possible, and it was always his view that cheap drilling was preferable to more studies (3D etc.).

But on this occasion, and in hindsight, has he been too frugal for his own good, perhaps?🤔

GRH. .. .. . Before measuring and relying on TWT in reflective seismic

Especially in complex geology

Advisable to validate the sub surface 'humps and bumps'

FTG can be helpful in that regard...IMHO

GRH. .. .. Factoid

GKP did not drill Behr Bahr 1

It was Genel

Under Tony Hayward (ex head of BP)

The post of 20 Dec 2011 was correct

In every respect

Yes...the BB1 drill was located sub optimally

As Tony found out

You're welcome

Agree Matt. Share price commands everyone ones attention. And yes it’s not easy 😄. Worth considering temporary changes vs fundamental ones. TT producing growing profits is a fundamental change. Any authorisation in Ireland would be a fundamental change. Looks very likely imo. Flowing commercial gas from MOU 3 will be a fundamental change. Worth watching the presentation again kindly posted by Keith. It’s actually much more positive than some might think. Paul is focused on the path ahead in Morocco with the wider licence. Ahead being key. Tide’s turn !!!

GRH. .. .. .. Several folk had asked

What I thought happened re mou5

Hence my posts...

Yes...clarity would be much appreciated

Rhwillcoll for clarity I post views from numerous contributors which i feel will assist the conversation. Obviously I lack the expertise , information and experience of almost all of these folks. In relation to ultimate success I’m drawn to the airlines model of a non punitive all encompassing approach to perceived problems. Result is a remarkably safe and thus successful industry. PRED has all the elements for ultimate large scale value creation imo thus I remain a loyal investor. No share sales. 👍

GRH. .. .. . Context...

Opportunities such as the Jurassic mou5

are as rare as hens teeth...on a global basis

Summary...

Thus, we wanted £ exposure to the most valuable

land based drill of 2025 🦕

We got exactly that

What I consider to be significant omissions 🤬

Affected the result

With a lack of definitive information people apply their own narrative often, unsurprisingly , a negative one. Paul and the board will need to see and consider all of the MOU 5 data . It may of course be far better than many presently would have you believe. If I was in PG’s position and felt that I hadn’t achieved what I expected pre drill then I would even if confident in my judgment bring in external parties to review all the information to date and critique my decisions. Confidential and no holds barred. Once Paul and the board have reached a decision on the way forward I would have a shareholders meeting and give a full presentation of how we got here and the way ahead. Any questions that can be answered should be. Needs an open approach and in Paul’s defence there’s often completely sensible reasons for particular choices that when explained restore confidence.

NIK asks on X. .. . Hi Graham. Looking forward, what can be done to rectify the situation? It seems as if the potential in Morocco hasn't changed but that a change in management is overdue. I would support a PI representive on the board. It has worked well at Panr so far. Interested?

GRH. .. .. .. As some know, I am very upset by

What I consider to be omissions

As I believe that The Prize was

Within our grasp

Regrettably, the issues re MOU3

and omissions re MOU5

Have changed things

GRH. .. .. I WISH TO APOLOGISE AGAIN

I had made the assumption

That, due to the much vaunted experience of the 'BoD'

Quite basic omissions re 'seismic interpretation'

Would NOT occur re MOU5

I now believe my assumption was wrong

Yes, I still own shares albeit reduced in numbers

GRH. .. .. .. For those commenting...

PLEASE PLEASE PLEASE

Study the work obligations

Per the licences

As previously set out by #prd

Thank you

Perfectly reasonable approach Fordy whilst we twiddle the thumbs. Investing Armageddon seems to have been avoided for now . 😅 . Going forward , up and down with lower highs and lower lows ??. Does US go for new international monetary settlement using tariffs to drive advantage ? Does President XI have a bash at Taiwan ?. Come on Paul throw us a lovely juicy bone 😄

Mick I made modest money in CTL then back in again and lost some. Overall slightly ahead. Down 5,4% from an already depressed level. I might take another punt but main focus is going to be mature solid companies and funds that don’t require constant watering. The whole investing world has changed. I recall at the covid collapse some of the smaller companies I was uninvested in but , but following, collapsing temporarily. Following on 4 and 5 baggers were not uncommon. . Could imagine CTL doing the business.

Just to add Matt that an additional advantage is that being invested as opposed to being in sterling means that you are insulated from a dreaded run on the pound. I’ve vague childhood memories of the IMF humiliation. I have my doubts surrounding our present chancellor and the BoE. Hopefully things settle down.