Member Info for FORD707

The complexity of what he is trying to do and obviously appeasing the powers that be do have some bearing on what he says and does imo.

We all know that Morocco etc have had false claims of discoveries etc in the past so this is understandable.

This is why when things haven’t gone according to plan some of us can ignore the time certain things have taken and move on quickly.

The tactics of getting Morocco to monetisation is so complicated and time consuming for so many reasons.

I believe that the tactics would and should be to prove as much as he can all at once.

So many reasons for this which in my mind is why certain things haven’t been done yet and makes sense to me.

People will always have different views but the constant repetitive 💩 is exactly why decent discussions cannot be had here.

Whether people then change their views or not is what it is but if people are in doubt or want constructive conversations I suggest a change of attitude would be beneficial.

What ever group people like to pigeon hole posters in is entirely up to them and most of us don’t really care tbh.

Paul has said in the past we’re not going to update the market when we’re just looking at a well site or whatever and that is fair enough.

However,

As I said I do think that we are entitled to expect a progress report before Xmas and that would be professional and the right thing to do.

If we do not get one then I won’t be throwing my toys out of my pram because that belief in value creation for my investment is still there.

Not far away from Christmas and I hope you all have some lovely family time planned.

I listened to Paul’s interview again and made some notes.

So it was the 24th which is 6 weeks ago today.

We have 100% of the well equipment plus top up allowed for, 80% we have or in our warehouse, remaining 20% imported in the next 6 weeks avoiding any delays.

So should be about now and that’s for the mou5 drill which the target is end of January.

We have 4.35 million as of June and we have 1.18 million held by onhym and some of that should be available after 5 is drilled.

Obviously he is saying mou5 should be successful so that’s positive.

We’ve been working in Trinidad for the last 6 weeks to start oil deliveries and should have that done by the end of November but certainly by year end.

He then says we’re fully funded for the two work overs we want to do and these should be completed by year end and production coming on stream.

That to me says they had been working on the sales side of things up until October 24th prior to the work overs which should technically be under way by now.

So work overs and production by year end and everything we need to drill mou5.

I done this to manage expectations and understand what he has set out and what should be going on.

Obviously the money at this moment in time should be mou5, drilling 6 and hopefully flowing 3 which we know won’t be until next year.

However, I do think he should update us before Xmas with the targets that he set out in October.

Whether or not Paul is confident with what he has and how he see things progressing I do think the company should update the shareholders and the market of how these things have or are progressing before Xmas imo.

If I were the institutional investor I wouldn’t have wanted to wait for the share price to be higher, would you?

I trust Paul and the companies assets and it seems that you don’t.

Fair enough but you’re bleating on.

Someone once said to me “you have two ears and one mouth so you should you listen twice as much as you talk”

Perhaps that is what the other 40 million shares are for?

If you were an institutional investor it would make sense wouldn’t it?

You aren’t going to build a pad until you know when you’re drilling.

Admittedly I would love to know of course and I do think it is not unreasonable to have an update before Xmas.

Fully funded for EXISTING commitments is totally different to being fully funded to complete the job!

The money means we can get on with things on all fronts and if mou5 is successful we could go straight into drilling 6 as we did with 4 after drilling 3.

Have any of the wells been abandoned?

Sounds like a date 😃

I wish you all the best for the weekend Sandy.

I always get goose bumps so I cannot imagine how it must feel to actually be a part of it.

Well done you 🫡

Do you know how much prd have spent so far in comparison Pareto?

I don’t think many realise what Paul has managed to achieve.

This will be met with nonsense of course but it’s worth people knowing I reckon.

What he has compared to net spend!

Amen Bob 👍🏼

I’ll wait for the sell buttons to be hit I think.

Tap away!

Although it won’t be anyone that has posted today, they have no shares.

Talking the nervous out of an investment they may never find again.

Jimmy,

I don’t believe I stated we have inexhaustible cash!

Did I?

The negatives in this industry are always much the same.

How much does it cost for an e+p from start to finish to monetise an asset.

So many variables to that of course and if we need more money for whatever reason then so be it.

I am not saying we do need more but it is clearly playing on peoples minds and seems to be a stumbling block for most to overcome.

The strategy was clearly revenue but ceg messed that up so move on and roll with it as Paul has had to do.

I really do not concern myself with what others choose to do with their investments.

I believe that eventually this company will monetise its assets and it’ll be significantly more than the current market cap.

It is very hard to read all of the posts every single day as there are a lot of people that talk for the sake of it but these things have all been discussed before.

Like what?

All the negative outcomes only really matter if you’re in a hurry.

There are hydrocarbons within our asset in Morocco so it’s only a matter of time.

Trinidad will generate income at some point so that is good for the future.

Ireland is only a matter of time before some value is unlocked there.

Negatives would be any sort of natural disaster which is beyond anyone’s control.

Ok if the wells currently drilled don’t flow then it’ll hurt short term but not all wells flow straight away, gkp has been mentioned before along with others.

Any fund raising I don’t necessarily see as a negative long term because Paul owns a decent chunk of the company and he’d only do it if he deemed necessary.

Most of us lth’s are still sitting on profits and since Paul started prd up the gains as we sit today are not to be sniffed at.

We have deals lined up with all three assets and I think the positives far out way the possible negatives.

It is impossible not to have some risk!

So perhaps colon if funding was required for Mou 5 it is possible that the entire drill could be funded by way of the company giving them shares?

All things possible here imo.

My families very best wishes to you, your friends and family Hampshirelass ❤️

I can’t imagine the loss you’re feeling at this moment in time and it really is a gift when you can love someone with all of your heart.

It is such a shame that anyone has to then feel the loss when it is physically gone.

I hope that you can all support each other and eventually celebrate and remember the good times x

The very best to you

Perhaps the people that set that budget didn’t their job properly?

Can’t really set a budget when you set a company up, drill into Mother Earth to find hydrocarbons, keep everybody happy whilst having your own neck and wealth on the line.

You seem to be a numbers guy so what’s the number?

So in your industry if you had someone completely on the outside and knowing very little about what you have to work with, knowing very little about your industry and having next to no experience comparatively you would welcome criticism?

Paul confessed to taking his eye off the ball in a certain instance, fair play.

In any managerial role at times you trust others and trust that things will run smoothly without micro managing, perhaps this happened and if it were the case a good leader does not throw people under the bus.

They fess up, take ownership, learn and move on.

How much has Paul spent so far?

Perforating was never going to work and the company knew that.

However, the company needed to ascertain the damage and carry out the perforation guns as a requirement in the allotted time!

If you blast the shyte out of it you could potential lose the ability to enter that entire interval in that well again.

Paperwork problem that was not the companies fault meant we had lost our time slot and having it all on standby would have meant we wouldn’t have the money we have now. I.e avoid wasted money which is your concern.

The customs delays which ran into months was an absolute joke and again beyond our but perhaps not others 🤔

What was the other gripe you had?

A few question marks in my previous post James.

Could you just answer one of them please?

How much has Paul spent to date on the company over the three assets we have?

Lse didn’t seem to like capital letters in the previous post, apologies.

let’s be hypothetical for a minute then.

at what cost would an e+p need starting from scratch need to lease, explore and test an area and then sell it for say 5 billion?

this includes absolutely everything from day dot.

how much has paul spent?

how much have other companies in the industry spent and produced absolutely nothing.

now when you get to an end value you can always look back and say you could or should have done this of course.

when paul set out with predator he may of thought he would have spent more, perhaps less but he has worked his **** off and he’ll get his rewards and recognition i hope.

along with all of those that have helped progress the company which very much includes lonny!

i am not sure you will find very many companies that have the net spend versus end value as we will have here.

if it takes another 8% or even another 16% with the spend versus end value it’s astonishing.

hypothetical as i say as this could take ten/twenty years to fully evaluate.

remember, big fields get bigger and this one seems to be very big as it is.

sell a bit, keep a load, sell a bit, keep a load.

who knows the plan or what will happen but i would like my share and i will play it out along with some other good people.

I have a busy day today Jimmy but if all of questions get answered will you disappear?

You’re sitting on a loss at the moment I believe so perhaps your emotions are getting the better of you?

Perhaps you aren’t invested at all 🤷🏻‍♂️

Rns states “leaving”

I was going to mention this but we all read things differently I suppose.