Member Info for GRH...

Afternoon

I have addressed this matter before
but I feel it important to restate it now:

Were any of the big deals to come off ...
They would be huge in their own right ...see Twitter right now...

but of course truly gargantuan when compared with the current equity M/Cap (or ATH) of PRD

As such, it is very possible that PRD will (in advance of relevant RNSs)
seek a temporary suspension in dealing in the shares...

The London Stock Exchange is generally reluctant to grant suspension
as it disenfranchises shareholders albeit for short periods of time

However in the case of PRD, I think the Exchange will /would grant suspension
As the scale of the ‘disorderly market’ ...were RNS to drop ...would be of great scale (euphemisms R Us)

I should point out the obvious...
IE anyone who is ‘out’ at the time of suspension is exactly that

Upon reopening...
There would be a ‘squeeze’ worthy of its name

All IMO

Yes of course...
I recognise that I may have less relevant experience than some who will post on here...

If so, it would help my own understanding
if counter arguments were to be objective
and accompanied by relevant CVs/cases etc
Thanks

Regards
GRH

If there is no interconnecting pipeline to the countries concerned, the EU could not offer offtake gas from reciprocal storage to be established/built across EU members...thus EU could not demand Ireland 'builds' storage!

It is a DIS-benefit for Ireland as they cannot draw from other EU capacity...so the crunch beckons even clearer

Regards
GRH

Hi Tesla

Yes...I agree

Ireland clearly cannot 'benefit'from whatever the EU cobbles together...
so they have to come up with their own solution...

Time is not on their side

Mag Mell is

Regards
GRH

Hi Tesla

I had heard of this idea recently...

I think I might have tweeted about it

but...I had read it differently to you ...

I had thought it was a derogation against ...having to join/pay for/benefit from ...
the compulsory gas sharing regime across other EU 'states' (formerly known as Countries!!!!)

The old legal adage of 'with the benefit goes the liability' clearly applies

as Ireland simply does not have the connectivity to join that 'plan' (plan?...give me strength!!)

So Ireland has a big...problem

Even if there is some teaming and lading to be done in so called EU, they cannot take advantage of it.

Winter is still Winter

The populace still gets very cold...
Hypothermia beckons for the old and the impoverished

Clearly, this is an extremely serious societal danger... and I am putting it mildly

The old adage that ' society is only two meals away from anarchy ' still holds true

Data centres (I wrote extensively about such ages ago) still need massive juice and ...

HEADROOM/RESILIENCE!

or they will clear off and the tax take will plummet

What Minister Ryan is thinking, I have no idea

But I do hope the politicians see sense...not merely for my own sake ...but much wider

The Irish dream hangs by a thread...IMO

Regards
GRH

Afternoon

I just want to thank Billy...

Very good stuff ...

and it's great to have you on the case

Thanks!

Regards
GRH

I own shares in PRD

I choose NOT to own shares in most companies...

CHAR being one

Each to their own of course

I wrote a piece re respective costs ages ago

Regards
GRH

Afternoon
Just popping in amidst a sea of peeled grapes and TLC...I have had a good time

I just want to say a big 'thank you' to those who went to all the trouble of sending cards
and wonderful goodies
I might even get to some before my Wife beats me to it

The other day, another poster asked a question about (maybe) limitations of ‘our’ rig

I am very certain that our locations are NOT picked due to limitations of the rig.

Offset well data from both offshore and onshore is used in determining rig specs.

And ...as far as I know...

there is no offset data in the region indicating that we will need a 10,000 psi rig.

As many know...
Star Valley rig 101 is specified with a 5000psi BOP system
which with safety margins of 25%
is sufficient to drill this part of the basin.

https://starvalleydrilling.ca/wp-content/uploads/2020/11/Rig-Specifications-101-.pdf

Regards
GRH

Morning...

I just logged in...
blimey...
very good of folk to send good wishes...great Stevie Wonder song too...thank you to all

I am no longer remotely rock and roll...if I ever was
but always love this one

https://www.youtube.com/watch?v=L-Ds-FXGGQg

Regards
The Old Boy

Daibark

Good morning to you...I trust you are well

I bought in 7 figures bulk at 1.5p

In order for me to realise the mythical 1000 bagger

I would need a TOTAL CASH RETURN of £15 per share

That is a different measure to a simple SP of £15 ...

Folk need to be in this to win this...IMO

but each to their own
and everyone needs to manage their money as they see fit...

IE what % ...if any...of their own nett wealth to invest

And they really MUST DYOR...

I have read of some coming here 'on a punt' ...

I find that disturbingly naive...

sorry to hector

Regards
GRH

Morning...

Aha.
The excellent Seabright...thank you

In great truth, I still don't think that many current shareholders have a real grasp of the order of magnitude of the prize ...

Yes some talk about it but they still think some of the figures I quote MUST be wrong...several have said so

It is beyond anything I have ever seen...and I have seen more than a few...

But very rarely do I put my money down

With a bit of good fortune...one always needs a bit of that in life...
I stand a real chance of the mythical 1000 bagger from my entry price

DYOR...you owe it to yourselves

Regards
GRH

Silverfoil...

Welcome to the PRD chat board

I would point out that Dana was an accumulator of assets ...
a LOT of money was paid to acquire such assets...stitch it together

Yes...Tom Cross did well to sell for reasonable money

PRD is not remotely like Dana

neither re modus operandi nor re possible £££

it is better on an order of magnitude scale that is hard to comprehend

All IMO view of course

but check out posting histories of some good posters on here
and/or look at Reddit

Regards
GRH

Morning

As the BB is quiet

pro tem

A short story (tune out at will, of course):

Many moons ago, I bought (in my main market listed company) an estate agency chain...7 outlets ...

We built it up to a much larger chain...22 outlets in a form of JV

I then sold the whole thing to a large insurance company ...

((it was at a time when insurers and others were keen to buy estate agencies
to try to cross sell their mortgage products

BUT ...here is the THING:

at the same time as I sold the main business, we formed a new JV
With the insurance company providing all future funding for very large expansion...driven by me and my team

In the sale and new JV deal, I negotiated a PUT option

Whereby ...at a predetermined date in the then future...
I was able to PUT the equity stake that I held in the new JV back onto the insurance company
at a predetermined price formula...
with the all important RATCHETS

It turned out very well...materially aided my ‘retirement’

Obviously, I am not going to go into many details on here ...
in case anyone should try to draw parallels
Regards
GRH

Afternoon

My eureka moment...FWIW

Several people on this BB and elsewhere post highly personal and offensive stuff ...ad hominen...
about other BB posters and the Directors of PRD...

often quite disgusting personal slights

They also post FUD about the very considerable assets
with scant knowledge ...ZERO mastery ...or even understanding ...of their subject

I have asked myself WHY do they do that?
WHY??
WHY BOTHER??????????

Sometimes ...it seems to be folk working for troll outfits...to try to manipulate the SP...
more recently disgracefully aided by some on here

Other times... it seems to be folk who are lonely and want to engage in social interaction ...
albeit of an electronic and vicarious nature

BUT if you look at the language often used...another truth jumps out

I think that several are folk who have done badly...been burned...in E&P ...due to lousy previous decisions...

and who cannot judge PRD on an objective basis...
so consumed are they by their own past experiences and stupidity

Those experiences tending to ensure they cannot now see the forest(s) for the trees

Just my thought
Do with it what you will

Off for lunch in the garden (per Twitter)

Regards
GRH

BTW

I absolutely do not consider a deal to be the be all and end all

NOR do I think a placing is the alternative

The way things might shape up VERY soon
might give rise to another funding source

Apologies ...but I will not speculate in public WHAT that might be

but it could come with a lot of sizzle

Sorry to sound vague
but it is for the best!!

Regards
GRH

Afternoon

Vegas

and we do of course KNOW the target deal parameters...

We were told only yesterday

I would just mention that , in all my time ...
I have never before seen deal parameters put out in RNS...in advance of a deal

PERHAPS ONE CAN BE QUIETLY HOPEFUL (see what I did there!!!)

that the shortlisted companies have already agreed to such parameters

BTW...

might it be an interesting exercise for some here to work out the likely size of short listed companies

The likely scale of this asset ...and thus likely price...is already public knowledge

Bear in mind also that ...in doing deals ...

both sides will wish to feel they got a GOOD deal

Totally unrelated to that (!)

Does anyone recall the extraordinary levels of contingency padding in the CPR and Novum docs?

IMO they were insufficiently commented upon at the time...
but perhaps one can now understand some possible benefits?

Regards
GRH

Vegas

to try to answer your questions:

1 ...
Q...When Exclusivity is granted do you expect other conditions to apply to the granting of Exclusivity?
A...Yes... extremely likely

2...
Q...If so, what ? Is there a general rule of thumb ?
A...There really isn't a rule of thumb

BUT I would hope to see provisions ...inter alia...re
best/reasonable endeavours
proof /dedication of funds available
Maybe escrow arrangements
Draft of likely contract that would apply in the event of success
Could be done so that ,if terms are agreed during the exclusivity period, the Parties 'automatically' move to contract stage
Committed deal team
Dedicated deal 'war room'
Publicity provisions
Maybe break/walk away fee

but every deal really is different
and ...to a surprising extent ...it can depend on which lawyers used...
all major Firms have their own pecking orders/lists of demands

Sorry I cannot be more helpful ...

at this point in time!

Regards
GRH

BTW (as if!!!)

The LSE will do so in a heartbeat...to ensure 'an orderly market'

To say there could be a disorderly market without it

is a bit like saying the VW/Porsche 'squeeze'

was merely a blip!!

We are travelling in interesting times...

Regards
GRH

Hi...

I have popped in and seen a lot of drivel posted by some folk

Folk who have never delivered a commercial deal in their lives...
merely wanting to manipulate the SP to their own end

I tell you this...
in the event of a SP DIAL MOVING deal being struck
and ...if I was running PRD (MANY congratulations Lonny!!!!!!!!!!)...

I would ask the LSE (The Stock Exchange ) to suspend trading ...
(they are sometimes reluctant to do so as suspensions disenfranchise equity holders ...even if pro tem)

Once trading has been suspended...PRD releases relevant RNS
Or indeed as I suspect...RNSs in the plural

Once the so called market has digested the information in RNS/s ...
the share suspension is lifted

The resultant activity ...especially in a poorly supplied market...would be extraordinary

BTW1...

to structure a PUT OPTION is do-able of course...done a few
but the terms of the PUT have to be crystal clear...incl ...inter alia ...pricing /RATCHET provisions/etc

The fact that PRD is ‘even ‘ mentioning such a PUT today is of itself incredible

BTW2...

Has anyone of the pants wetting brigade ever :

Structured /delivered any BIG deal?
If so...please spell out details

as it will sound like bullsh&t if you don’t

Acted as anything other than armchair Chief of the 'MGS'?

Facilitated a series of share suspensions /etc ...all for highly beneficial reasons?

I look fwd to reading of lights previously hidden under copious bushels

Regards
G

'equivalent to approximately 60 North Sea blocks'

Regards
GRH

Morning

As I said just the other day ...

I would never say 'I told you so'..

Merely limit myself to 'QED'

If anyone cannot ...or CHOOSES not to ...read between the lines...
They need Specsavers' more powerful brother...a veritable microscope in their case

In PRD's case?

A space telescope will just about do the job

As is becoming really clear, I have not been spoofing on anything ...to the contrary!

That is perhaps now becoming clear to even some of the SHOUTISTS...

Who are supremely poorly researched

As always...
Please DYOR

Regards
GRH