Member Info for GRH...

Afternoon

A couple of folk have kindly enquired as to my whereabouts...thank you

I have been busy of late
although have posted some random stuff on Twitter...
about the intricacies of certain fast cars...
some kind folk actually found it of interest

BTW
I have also seen some gas explo. stats that made my eyes water...
Sorry but I cannot post it as I do not own ...nor have rights to use... the copyright etc

Suffice to say I have not sold my shares :)

Regards
GRH

careful Sefton!

the crazy guy on Twitter...Investopia...

is now suggesting that I am you !

and MEM !
And Methodology!

There is a game afoot, methinks

Regards
Keith

oops!

Keith

good stuff again...thanks

coincidentally, I know the E Africa Rift quite well
having been able to forecast , among other locations, Ngamia 7 correctly!

The nature of the depositions and folds here at Guercif
I consider not dissimilar to parts of the Complex Thrusted Fold Belt of the Zagros

again...coincidentally ...
one of the acknowledged authorities on that area
was none other than my much missed ,deceased , friend Adnan Samarrai

The Godfather of Iraq Oil

It is not for nothing that I have mentioned PG as possibly being in the same echelon as Adnan

Regards
GRH

Good Post Keith

for which many thanks!

Yes...people are now talking about something different

to the oil I had originally referred to

The GAS is likely to keep folk here financially amused

For quite some time!!!!!!!!!!

Regards
GRH

Daibark

aha...you are EVEN OLDER than me...but only slightly :)

ATB

Regards
GRH

Morning

some crazy person on Twitter now asserting that Methodology is me

Blimey...I am almost 75

I wish!!!!!!!!!!!

Some agenda being played out, folks...

Regards
GRH

Evening...

and to think...

a few shoutists on here ...who shall be nameless...

suggested ...among other drivel ...

that I didn't know my stuff

Hmmmm....

MC!

Regards
GRH

As I am on the subject...and warming to the theme...

Another thing that folk might want to look out for is ‘skin in the game’ of FOUNDER management

With many outfits, the % of ACTUAL equity held by founders /driving force
is often surprisingly close to...or at... ZERO%

Often with those Directors feasting on share options in the success only case, of course

In my experience, there is nothing like having your own gonads ‘on the line’
to help focus on making wise decisions

Some on this BB have been discussing PANR of late...
and I have stated clearly that I do not own shares there

Please understand that I have nothing against PANR per se

Just that it gets nowhere close to my (admittedly hard) criteria overall

Yes, it has been successful of late on The North Slope
and bl**dy good luck to all there

But even in the case of PANR, it is noteworthy that ...
(at least last time I checked)
Mr Cheatham only OWNS 0.4% or so of the equity
With a further 1% or more made up by share options

Last time I looked, I think that PG owns about 15% hard equity in PRD?

Don’t even get me started on Director’s remuneration

Regards
GRH

FootandMouth

It is all about the BAGS...

always was...
always will be

The 'HOW' questions...
simple to ask ...
but hard to answer:

How many bags can a share deliver ?
Over what time frame?
With what probability of success

I was a founding member of an investing quad...

The Baggy Trousers

so called as we liked to BAG
and TROUSER the money

I very very rarely buy an E&P...
as most can get nowhere close to my... admittedly demanding... criteria

Major baggers come along incredibly rarely

Some folk like to have a 'little portfolio' of E&Ps

They are generally deluded ...

The secret?

ONLY EVER buy the great ones

I am not invested in PRD without reason

Regards
GRH

On 28 SEPT 2021 (!)

I tweeted this note:

((

I tuned in to the presentation

Several HUGE points

Guercif is shaping up to be EVERY BIT as big
as I had first seen...

100% accurate

The RNS wording re the scale of the DISCOVERY and implications had to be toned down

Worth watching

DYOR!
I do !
))

If anyone has not studied (inter alia) that presentation

then do yourself a favour and watch/listen...

its worth your time IMO

Regards
GRH

Morning

Sorry for OT...

please see my latest tweet...
@GrahamHengland

it is not about E&Ps

it is simply about doing the right thing to help people

Thanks

Regards
GRH

sorry Bob...

a typo

2021

Regards
GRH

Morning...

Any folk who have read my stuff here will be aware that I came out with some seemingly exalted numbers very early on

They will also be aware that I moved like lightning to grab a decent 7 figure shareholding at 1.5p...
That was the sale of the millennium
and I believe was caused by a distressed seller

But the Company itself has validated my views ...the RNS of 18 March 2020 was a game changer...thence Michael Caine

The numbers have changed slightly since then but matters are now more 'progressed'

Folk have also come round to accepting my views re oil...

but make no mistake, the immediate hard focus is on DRY gas and lots of it...the economics here are like nothing else you will ever see again

There is no value in me reiterating here the numbers on the upside...they are off almost any scale...you can all adjust column widths on your spreadsheets

I do not agree with all of MEM's individual numbers...
we have differing views...and information...that is not surprising

but I sure as hell agree with his conclusion

I said ages ago that the success case here can deliver my target

I believe I have line of sight...

Blurry in places...(that is potentially a good thing)

to the mythical 1000 bagger from 1.5p

Yes, I may be wrong...
And if you copy me you might lose your shirt

and the market disagrees with me right now

((The problem markets have is consensus view...
markets are often comprised of the ill researched ))

The biggest 'arbitrage' (credit to Sefton ) in the market right now???

In my view yes...all day long

If folk are investing in E&P ...
and are not fully loaded on PRD...
They need to see a shrink

Do your own stuff...
don't take my views at face value!

I am just another participant
In the same market as you!

I am old boy now
and my mental acuity might be diminished

Best of luck whatever you decide to do

Regards
GRH

FootandMouth

Please allow me to try to answer your question

You would do worse than to look up Wiki

Summary...

'It is notably one of the largest Super Giant oilfields discovered in the last 50 years'.

When doing so, you need to bear in mind that the whole basis for reserves auditing was changed...to focus only on the Jurassic reservoirs

You might also want to bear in mind that the whole Shaikan licence totals only 281 sq Kms!

I am not making this stuff up...

Really....281 sq Kms!

The company was saddled with vast piles of preferred debt...which worked hugely to the ultimate detriment of Equity holders

One of the reasons I am SO adamant
that small shareholders really should focus on ENTERPRISE value ...

And not Market CAP!!

Hope that helps

Regards
GRH

Re Lonny’s sheepdog tweet...

I suspect it was intended
as an amusing video to illustrate

' If you can't go through

and you have a job to get done...

then go over'

Regards
GRH

Morning

FYI

Lonny has very recently re-tweeted
one of my tweets...

It concluded with these words...

((Every 10 years or so, one of these comes along))

Regards
GRH

As many know, I am a 'fundamentals' investor...

Have been for over 50 years...

And I have no time for unproven trading theories...many akin to witchcraft

Often promulgated by those who have failed at investment per se...

so who decide to 'teach'

Give me a break??

But folk here...

when considering the recent SP movements..
and the relationships of those movements...

Might care to consider Fibonacci ratios

Regards
GRH

Morning ...

does anyone recall there being a LOT of chatter on here ages ago ...
about PRD needing to farm down/reduce its field equity %?

Conventional 'wisdom' has it that it is necessary to do that in order to limit risk...
IE share the downside with another outfit
PRIOR TO exploration activity

Hmm...
does anyone recall some old boy arguing on here
AGAINST that very idea!

...as ...not only does it limit the downside... but limits the upside
and quite frankly one only really needs to farm out early in the exploration period
if one is not knowledgeable enough/confident enough of the result

It should be lost on nobody here

that PG ignored the shoutists on here and elsewhere

and did what I asked on here...

and ...as a consequence PRD retains a full...absolute maximum allowed...level of field equity %

As a result of superb decision taking ...
PRD still has 75%

but of now...
an enormously valuable asset...

as asset that has been analysed by the finest in the business
(some you know of ...maybe some you don't)

and ...as a direct consequence of some of that work ...
has seen its very large asset base morph from PROSPECTIVE resources

to CONTINGENT RESOURCES

IE one level below RESERVES categorisation

BTW

an interesting math would be to look ...not only at the extremely high values now certified ...

but to consider the cost ratio of further drills vs m.cap

Many examples but taking the same basin

just look at CHAR vs PRD...

prepare to fall off your chairs!

Regards
GRH

The so called 'market'?

Give me a break!

See Twitter

Regards
GRH

Morning...

Keith...

You are correct I am sure
The shares transferred over just a few manic trading days last Summer were many in number...

I reckon the free float is eye wateringly small

Lancy...very good point

Money does enable freedoms...

Whether to spend time with loved ones
or ...dare I suggest...
to help others very much less fortunate.

At the risk of upsetting any here with a very high BMI, I first retired at 40...now almost 75...
The money made many impossible things possible...
For which I am grateful every single day

Folk on here are mainly trying to improve not just their own lot in life

but those of family members too

There are those with some really good motives on here (one or two exceptions who self identify ...usually rapidly...but sometimes more slowly)

Bloody good luck to the good folk I say...

Yes, there are risks...of course...
but great endeavours are never easy or without risk

I continue to like the odds...
more so today than at any previous time

BTW...porridge and muesli can assist BMI

Regards
GRH