RE: Mumbo Jumbo23 Mar 2023 16:57
Mumbo Jumbo
You ask what point I was making...
please allow me to explain:
my point is very simple...it is in two parts:
A...
you tell us that you have recently bought shares here
and yet …you constantly complain about lack of information
I can tell you... that in all my investing career ...
spanning over 50 years in total
and over 14 in small E&Ps...with some 'reasonable' successes…
I have never seen a tiny company provide quite SO much information to small shareholders
Frankly, your whole approach...looking at your posting history...
indicates that you are a short term trader...
that may be wrong of course
but it reflects merely what you yourself have posted
B...
were you to have been a shareholder for longer ,
you would be well aware that I am very keen for PRD not to issue too many new shares...
(indeed, about 14 years ago, I coined the phrase' issuing shares like confetti' that applies to a huge swathe of the small E&P sector…
my technical post dated 20 DEC 2011 later referred… in part… to that same point)
As a direct result of PG being 'very careful' re new equity issuance...
PRD has full 75% field equity at Guercif…with no debt
But with VERY considerable contingent resources
All located in a benign commercial and fiscal environment
It is a considerable achievement
and frankly one that none of the keyboard warriors could have emulated
However …many were the posters shouting for PRD to farm down some years ago…
many suggested reducing to 50% field equity
I argued forcefully against that
Had PRD done so…
it is most likely that my own shares would be worth considerably less in the near future
If in doubt…al my previous posts are available via the search function
Some folk have observed that I am consistent in my views…I am
And for VERY good reason
You were very assertive...without caveats...
that a placing would have taken place at 4p...
Sorry…but that was MILES out
You failed to provide your credentials for stating such price…
IE your relevant experience in pricing of ‘book runs’
(Drop me a PM on twitter
and I will show you WHAT a $7.6BN 'book run' looks like)
But… were you to have been correct,
it would have greatly advantaged PLACEES
and increased the total numbers of shares in issue BY an extra 13.6 million
I regard that as a considerable number and a considerable error on your part
I wish you well with your ‘activities’
Regards
GRH
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