Member Info for highlandmatt

CHAR is also off-shore. Anchois needs a lot of cash to bring on-stream. Like 100's of millions of dollars. We need $12m.

PG has already stated Mou2 will be completed "whatever it takes".

Yep, and who has drilled the most wells in Morocco? I'm guessing it's Lonny....if there is one person you would reckon to have a good opinion based on skills, knowledge and experience.... It's Lonny.

Porters - no-one can be sure, but Lonny's answer was he 'would be very surprised if it was not commercial'.

Steady buying, now at 0.27.

While looking for the answer to Jimmy's question, I found this in the old Pathfinder CPR. In relation to GRH's reference to GRF1 and updip:-

Pathfinder has proposed “an updip appraisal of the untested hydrocarbons in GRF-1” where some 39m of net gas pay are identified on logs. The seismic line through this well shows a number of strong amplitude events that may be gas sands. Postulated reserves are 10 to 200BCF.

Jimmy -
Not sure if this is sufficiently detailed for you, but...
page 6 of the 9 Sep 2021 presentation.
Page 21 of the 28 Sept 2021
There's also page 10 of the latest CPR
https://www.predatoroilandgas.com/investors/presentations/

Yep, topped up at 4p on the well news. Have enough in.

Yes, a great entry or topup point- just before a step change in production and revenues.

Kasjnaton - 'Don't throw those bloody spears at me!'

I suspect it might be a case of flowing Mou1, value of asset goes up, as does PRD shareprice, then maybe sell a tiny stake to finish and test Mou2. Then SP will really take off, and there will be lots of financing options.

Yes, it dilutes existing shareholders in terms of how much of the assets we own. At that point in time the cash goes on the balance sheet. As with a placing, you are selling equity stake in exchange for cash. The difference is you get more control of the price. If you currently value Morocco assets at $40m, selling 10% gets you $4m. The trick will be to retain as much as possible for as long as possible, as the asset value will increase with each confirmed discovery /test.

Green light to restart production.

I believe Romania has a reasonable amount of hydro power. It has the lower reaches of the Danube, plus run off from the Carpathian mountains. Free capex, renewable energy, cheap in country costs. PG seems good at identifying where factors come together e.g. T&T.

Conclusion - Paul and Lonny do know the best course of action, and that is to consult the lab before making any expensive purchases, especially ones which might make no difference or even possibly make things worse.

I know Paul has his flaws (everyone does), and these appear to be around financing and comms. But he seems to consistently make wise decisions, and is careful with our money.

I don't think 3p is used much in valuing?

Worst case scenario - budget for Mou2 already spent. Small raise ( $0.5-1m?)to fund additional drill costs?

Pros - geological risk reduced with excellent seal.

I suspect PG is running the numbers to see if he can tweak the testing program to free up budget to avoid a raise.

Thanks Keith. I understand the general picture, it was the specific interpretation of the slump / slide, with the different rock types, that I was trying to understand. Apologies if I didn't make that clear. Appreciate all the educating you do for us.

I meant in general. Raising $10-20m for a multi well campaign.

Porters - it's a time versus money equation. Reducing the time takes money we don't have. Without income, money equals placings equals dilution. PG is trying to generate income without diluting us all to hell. This takes time.