Member Info for GRH...

'SOLELY'

Regards
GRH

Tritoretire

I know it was not aimed at me
But just to irritate the dwarfs

My deal number is on my twitter account

It totals well over $22BN
At historic values

Present value... about $40BN
Strange but true

The deal with King Abdullah of Saudi Arabia was on Saudi TV...see my pinned tweet photo

We have all done things in our lives

Mine happened to be a bit 'different'

BTW
I have bought some more

Regards
GRH

BTW

Wouldn't it be terrific
if the presentation ...in LONDON...
on 8 SEPT

featured BOTH PG and Lonny!!

As I have said

GRAB the creaming curve

and grab it big

People thought is was potty when I bought in bulk here at 1.5p...they shouted on this BB!

Similar folk shouted at me when I massively loaded up on GKP way prior to Shaikan1 drill

Similar folk shouted at me when I called DOWN Sound

Yes...I might be wrong this time...of course
E&P is NOT for the faint hearted

Regards
GRH

Regards
GRH

Morning

I am not going to go through it all again...

but folk might want to read

CPR issued earlier this year
Novum research note issued earlier this year (based on CPR)
Michael Caine...March 2021 (it references /specifies several company RNSs)

Bear in mind...in CPR 75% risking was applied!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

But then read latest RNS...

in that...PG/LB spell out as clearly as they can (and as I have banged on about consistently)...

that 75% risking is NOT relevant

as our route to market is NOT as per specified in the 2022 CPR

Now look again at the numbers!

Also... you might want to look at Mr Caine...up to you
that post was written at a time of very difference market pricing !
and it assumed the end numbers would be halved!

but...right now, we are proceeding ...as I always wanted...with full fat 75% field equity

Yes...it might not work
(I have this risked at 85/15%)

but in E&P this really is the biggest (enterprise value/upside) thing for well over ten years

Please DYOR...don't trust anyone...including me

Despite allegations from the dwarfs...

please understand that I really don't care if you decide to stay or go...no skin off my nose
I consider that I am going to make a lot of money whatever YOU decide to do

Regards
GRH

I have mentioned before...

Folk need to understand the energy return on energy invested

In the case of wind and solar, the return is below 1 unit out ...per 1 unit in

IE pouring money into those false prophets

will reverse society by several hundred years

The return on hydrocarbons is about 30/1

Nuclear...about 100/1
Small reactors up to maybe 150/1

Regards
GRH

I think there is a level of caution required re shouting very loudly....

others did shout and it did not end well for them

We are guests in Morocco of course

If ever there was a Creaming Curve
Within a Creaming Curve
Within a traditional Boston Box...shooting star!!!

It's gas and it's imminent

I really consider that several folk on here have no idea re the prize here

And that is perfectly ok...
As...
In order for a few to make big money, it requires many to make very little

Most will give up en route

I had covered this whole area of market dynamics many months ago

Regards
GRH

Hi Keith

You are on the ball as always...

I think the sdx announcement was highly misleading...to what purpose I do not speculate

Clearly though, as they are using the old ONHYM rig,
it opens up an entirely new world for PRD

Re what happens after the next drill and twin testing...and I do expect twin testing

I am not going to spell it out in detail on here ... as it would upset the dwarfs...
And I really would not want to do that:)

But I think there could be major impact re our timing

And funding...sales

Feels bootstrap-able

ATB
GRH

Morning...

Forgive me ...
but I suspect this BB might have jumped to an incorrect conclusion

Several folk had noted ...in SDX's RNS today ...
that the rig they are using is going to another operator

then going back to SDX by the end of the year.

Everyone had assumed this rig was to go to PRD for that short intervening period

WHAT IF...

Its not!?

Blimey

I am very sure we would not use that rig ...due to our own standards

What if ...
SDX is drilling with an old ONHYM piece of kit?

I suspect we will use the Star Valley rig...from Canada...as used at MOU1

I keep droning on about this drill being non trivial

But it REALLY is quite something

Folk might want to think about the subsequent timing/testing/drilling implications

Of course ...as ever...my usual caveats apply:

That I might be wrong

And yes...tomorrow might be Sunday

I suspect tickets for the 8 Sept will be white hot

Regards
GRH

Keith
That is correct

It is my VERY firm belief that ...

1...Lonny was ...is...totally on top of such issue ...totally
2...His knowledge of contractual matters in country is second to none
3...WE are really not dealing in small puddles...so the supply side ability of PRD would be highly sought after...in country and wider

Regards
GRH

I did mention it before months ago
but lost in the noise

Has anyone any interest in what happens to contingent resources once proven by flowing gas?

Has anyone any interest in what then happens to those resources if the economic and market forces exist to convert into paid for gas?

Yup...you guessed it...

It all moves up to another different category

Something called RESERVES

I wonder how fast we can drill.test.prove.class as reserves!

Reserves are sort of interesting...as they can act as collateral for borrowing

Add in some dare I say it LEASE finance...for production facilities

Anyone see where this is going??

Regards
GRH

TRY

GRH!

Evening

I have been castigated on here for expressing my views strongly and backing up my views by quoting relevant experience...

it has offended several dwarfs on here

Blimey...folk need to get out more!

But here is a point that is non debatable

I have met Paul...one on one ( with a young broker in tow)

I have met Lonny...one on one...

I would put my money on either of them

But to have the opportunity to back the pair!
That doesn't happen very often with men of their calibre

Some will say my judgement is flaky...it's bound to be a riposte

But my old guts have served me pretty well over the decades
I won't derail the BB with stories

but folk would be a bit surprised to hear some of them

I am here in bulk...happy to take more

Of course...have I ever mentioned the geology and lithology!!!

Regards
TRY

Bear in mind that the recent Nu Tech rock sample results were truly astounding

I suspect that changed things...a lot

IE we realised we could go it alone without much dilution

Obviously we do not know
but it was Peterhouse 's job to come up with JV...within parameters

Whether they did that or not...we do not know...

but in either event we then decided the price was too great in terms of field equity

Regards
GRH

Someone on here mentioned the share placing prior to the Shaikan 1 drill/ results...

and the resultant SP movement

It is a very good observation...

VERY good indeed imo

If anyone would like to know the possible values here...
why not pop back to Michael Caine...it's easy enough

Adjust for shares in issue of course

Adjust for value of gas...it's up a bit since MC!!

Adjust for recent changes to assumed level of field equity at 75%

Remind yourself what is at stake

Then...find another like it!

Regards
GRH

THIS is the biggest thing in E&P
(Bang per buck)

Anyone doubt me...please check the maths!!!!

But now we are in sight of ACTION

I am like a dog with two dicks

Regards
GRH

A good friend has just said to me

that he considers that Paul and Lonny have just reduced dilution at a stroke

I agree 100%

This is what hydrocarbon exploration is about...

Grab the Creaming Curve

Grab it big

Things do not come bigger than this

Morning

My take is really simple

Timing was dragging on re farm type deal...

Thus,we ran the risk of losing drill window ...and long lead items!!!

We have recently received data that has knocked socks off ...
re quality of permeability and porosity...

So why on earth would we choose to farm out until we prove what we have!

Or even farm out at all!!!!

Once the drilling is done, the world of negotiation changes ...massively...

If we want to still farm out...at all!!!!

I have always wanted to drill this with full field equity of 75% nett of ONHYM

Sure I don't like the price...it's completely crazy bearing in mind what we are sitting on...

but I want to drill asap ...

with 75%

BTW...company should ask Keith to draft RNS...

BTW...please read the line about RISKED value!!!!

It's what I have been droning on about...

the actual figure is staggeringly large...
IE...remove the 75% risking...

It's largely commercial risking

Could it be...could it possibly be

That we can bootstrap the whole project via initial production...

we even saw a photo of the location for initial facilities

Regards
GRH

Hi Oily Fred

Guercif, TT and Ireland

Are not mutually exclusive

Regards
GRH