Member Info for Gudin

The standard fallback for a ramper caught out lying, revert to insults. It has been tedious watching you lie and posting misleading information without anything to back it up.

Will refer you to page 20 again. The share is the operator 70% and Ceg Bonasse 30%, if as you are trying to claim it is a royalty payment direct to the parent company then this would be 30% to Trex. The parent company for Ceg bonasse as clearly laid out on page 25 is Steeldrum. The revenue is then split by the percentage ownership of Steeldrum which is 51%/49%. There is no need to email PRD it seems you are the only person struggling to grasp this.

WIEGL are still liable for the costs associated with owning the leases such as the annual $50k lease costs and $50k rent for bonasse. If these are replicated in the three other licences then WIEGL are due to pay $200k whilst receiving no revenue from production. A most generous company.

You have still provided zero evidence of your claims that WIEGL have waived their share in exchange for equipment etc.

The parent level is Steeldrum which they own a 51% stake made clear on page 25. All revenue flows into Steeldrum and is then distributed to Trex it cannot be any more clear.

Still waiting for you to provide evidence of WIEGL waving their 49% revenue share.

It’s an Al response that is incorrect not sure why you are defending this so vehemently.

This will add around 30 bpd to PRD until the costs are recovered and 60bpd after than unspecified timeframe. A welcome addition but more steady growth than empire building.

" WIEGL's return is via services and equipment provided to the JVf and potentially a Change of Control payout"

Link to this please. WIEGL and Nabi are two distinct separate companies. Nabi is providing all the services and equipment.

Page 25 of the October presentation provides the make up of the T&T companies structure

https://wp-predatoroilandgas-2024.s3.eu-west-2.amazonaws.com/media/2025/10/New-corporate-presentation-14-10-2025.pdf

Page 20

"Negotiated with third party operator in March 2025 to manage all operational aspects under a revenue sharing agreement with operator share 70% and CEG Bonasse (PRD) 30% of revenue" WIEGL cannot be classed as a third party if they are a licence holder. Out of interest Bonasse has lease fees of $50k who is paying these?

PRD bought a 51% stake in CEG Bonasse and other than your claims there has been nothing to indicate that the holder of the 49% stake has waived their claim to a share of the revenue. Hence the 7.5% to 15%.

Try to make this simple as you are not getting it.

Steeldrum own the four companies that hold the leases. All revenue has to pass through the lease holder company, this is not negotiable it is a legal requirement. Steeldrum is split 51%/ 49%. PRD cannot funnel all 30% of the revenue into themselves without WIEGL giving up their 49% and no one is daft enough to claim they are going to give up a couple of million revenue for nothing are they?

WIEGL are not the operator, Nabi are. WIEGL are entitled to 49% of revenue as part of the Steeldrum deal. They would not give this up even if they were operator as it will likely be worth a couple of million a year.

The tax losses are in Steeldrum, so for the tax losses to be applied the revenues have to be feed through Steeldrum. This is not an opinion it is a fact, why not explain why this wrong.

PRD bought a 51% stake in bonasse and struck a deal with Nabi for a 70 / 30 share of revenue. WIEGL own the other 49% it is extremely generous of them to give up their 49% share for nothing as you are claiming.

All revenue has to be processed through the lease holder, say in the instance of Inniss-Trinity this has to go through Inniss- Trinity limited which is owned by Steeldrum which has a 51%/ 49% split. PRD cannot simple over ride this and transfer all revenue to Trex their holding company. It is not how business works. I

So just to clarify you are saying that WIEGL has taken on $4m in liabilities for zero return? Sounds plausible.

Trex is PRDs holding company and for the bonasse field it bought a 51% stake in CRL which owns the bonasse field, so it is impossible to get the full 30% as they only own half of the company ie they get 15% to 7.5% of revenue. The company has clearly stated that the CEG fields are under the same terms as the Bonasse concession. The tax loss are held by Steeldrum ( formerly Caribbean Rex ) for the bonasse and former CEG fields and not by Trex, so unsure how tax losses can be used if the revenues are not going into Steeldrum first, which PRD hold a 51% stake. Hence the 15% to 7.5% is correct.

You need to stop using AL as it has thrown up two bits of misinformation in two days and start doing your own research.

Snowcap 3 is not a discretionary well it is part of a three year agreed work program and has to be drilled before November 2026. Looks like they could not wait any longer for Morocco sale as would be cutting fine to complete. Has PG chosen to go it alone or has Nabi declined the opportunity. PG spoke about sharing the risk, maybe Nabi are not interested in the risk. They seem to happy enough with producing fields with revenue where they can recoup sunk costs. CM is unproven with limited short term flow tests, does not fit the current deal framework with Nabi.

Well lonny's wife set up a company and the only client was PRD as far as I can see, so you are probably on the right track IJWT. For a large shareholder PG does not seem overly concerned with getting a return on his share holding. A nice safe salary, getting paid for producing reports and a track record of awarding contracts to family members such as lonnys wife suggest he and others are doing ok so far.

What happened to these the placing price is steadily decreasing? Is PG unable to provide value to shareholders and grow the company? What growth or shareholders returns have the previous multiple placings achieved? Is PG actually capable of delivering shareholder returns?

A few posters are MIA today who have been quite vocal over the past few days. Is the £1 plus still on the horizon? Someone wake the lad up in India or has he done his job? Yuri is the 8 plus figure payment still due? Shameless organised ramping before a placing again from the usual group on here and on twitter.

Great detective work Marceen, why do posters such as yourself find the need to slur others just because they employ a less than total ramping posting stance. Can you remember when you asked why I posted if I didn’t believe in the company seconds after I had posted a target price of between 6 to 10p. You went awfully quiet after that.

Was anything about the NABI explanation incorrect? Instead of making up stuff, when are you going to contribute some research to the board? All you have done thus far is attempt to confront other posters.

It is staggering after all this time that posters still do not understand the NABI deal, it is not 30% when the costs the have been recovered to PRD (a situation that will never occur because work overs and new wells will be required constantly to offset decline rates).

NABI gets 70% of revenue rising to 85% until costs are recovered.

PRD through Steeldrum the company that owns bonasse and the three CEG fields, receive 30% falling to 15% until costs are repaid.

PRD owns 51% of Steeldrum so effectively PRD receive 15% falling to 7.5% until costs are recovered.

A decent person would have acknowledged Matts calm explanation of how your repeated T&T forecasts are way out. Instead you have decided to engage in another foul mouthed rant. This anger cannot be helping your blood pressure someone has to fly your spitfire so be careful.

This is a discussion board to share views but for some reason posters seem unable to accept the views of others if they are negative. PRD is trading at 4p because of both positives such as finding gas and negatives such as being unable to flow said gas in a commercial volume. Both views are perfectly acceptable to discuss, it is not a board limited to positive views only. There are posters on here that only ever post positive views, yet they are not labelled the same as those that only post negatives, nor do they have posters urging others to green box them. Why the double standards? PRD faces issues and challenges going forward, these are ok to discuss yes? It has been assumed for example that the 1000bpd target in T&T is guaranteed, there has been zero discussion on the still large hurdles that are faced to hit this. CM 500bpd assumed, yet as Yuri pointed out PG talked about NABI taking on the risk. What risks are those? These risks are never mentioned in the assumed 500bpd figures but management seem to think they are relevant enough to mitigate exposure.

You freely offered up your (positive)trades in PRD, asking if your overall position is in profit is not illegal claiming so is rather dramatic though. You also still have not answered despite posting all your other profitable trades without being asked.

Tried to release you back into the wild yesterday but you came back again raiding the bins like a raccoon.

My apologies oldslow, my intention was some gently ribbing on your selective trades posting and I was unaware that you were in such a fragile mental state. Please seek help or maybe take a break from the board, your posts are not coming across very well. I would not want to further impact your clear mental health issues further by enabling your wild claims in light of the clear red flags. Best of luck with the future and please get some help.

Sheephatch this is a discussion board not an English test and autocorrect has a lot to answer for as well. It is not too much to expect posts from someone claiming to a world championship car driver in England to produce a post in a legible format.

Aye sheephatch it is entirely comparably to the massive paragraphs with poor spelling, lack of punctuation and inability to start sentences with a capital letter. Our friend is doubtless googling hard in India for a credible explanation of his style of writing. Dyslexia excuse incoming in 5 4 3……

Well yuri when posters are claiming a 500+ well is coming on line, highlighting the fact that is not funded or will come in with a much lower rate due to a planned service agreement seems reasonable. Misleading information should not be ignored just because it’s positive imo.

Well done you are truly amazing. When people talk up their past achievements and then move on to a new bumper pay day, so others can be as successful as them. It had a name in the past, boiler room scam.

Yuri

If the same agreement is reached for snow cap 3, then the bulk of 500+ a day will go to the contractor, how much will PRD receive in this case? $7m TXP well cost, that is a lot of cost recovery even taking into account CM wells are slightly shallower.

You seem to have been very successful does Warren have you on speed dial or are you too busy in your head hunted role at one of the large investment banks. You seem to rival GRH in only ever having correct calls, well done. Obviously the 12.5p buy was not mentioned or the 9p and the top ups of higher, all of which you posted when funny enough the share price was higher than those purchases. It's almost like you only mention positive trades. I notice you did not disclose your actual average or whether your holding was in profit. Most people with those returns would be enjoying the fruits of their labour, you seem to spend most days on here trying to ramp the share price. Odd.

This new well producing 500+ what is the cost? I have spent today watching txp latest presentation which included the cost for comparison. PRD does not have the funds for this well.