Member Info for highlandmatt

Confidence seems to be back.

HappySparrow - PRD will always listen to an offer, but has been clear that it wants to develop a service business.

Without having attended the AGM, but reviewed the presentation, I think that was included to show why the OneDyas deal collapsed / BOD walked away.

I think you need to draw a distinction between ramping and having a strong belief, backed up by evidence. Whether that individual has drawn the right conclusion or taken account of all risks is another question.

Remember last time PG did a presentation/ interview on certain elements of the business, the reason was, that was what he wanted to talk about in the time available. Doesn't mean the other strands of the business don't exist. If Ford did a presentation on its European operations, would we say America didn't exist? Nothing to see here.

Never mind dilution, what would 25% of Ruvuma revenues be worth? AEX is quoting $40m net per annum, which gives £300m mcap. Being diluted by 80% is not a problem is the market cap goes up 100fold+. Using WEN as a comparison in a market slump is a sly trick.

Was the same on my PC last night.

It's another step on the road to production.

Sell them at some point?

No idea MT, but surely the state of the market is irrelevant? The agreement is to provide cash in exchange for shares (or cash). I would put it in the accounts as a liability, and Prolific as a creditor.

Think of it as a share buy back at the market low. Great move by the BOD! In all seriousness, the BOD has been telling us it doesn't take a salary, only shares (maybe they could transfer some to Prolific, and record as a director loan?), that WEN is providing loan funding for Ruvuma cash calls, that G&A expenses are minimised, that EAG is self funding, so what's the problem with paying cash?

https://www.malcysblog.com/2022/08/oil-price-touchstone-scirocco-orcadian-gkp-block-and-finally/

It would have helped the BOD's case if it had stated in writing before now, the fact that WEN would be liable for costs from the Effective date, and that the Consideration would be increased by that amount. Do we know what has been spent so far this year, and therefore what cash SCIR will be due back at this stage?

Surely selling before the RNS would be insider dealing? We've been advised by Lonny there are only certain times he can tweet, and by PG that shares can only be traded once information known to the company 'is sanitised by RNS'.

Hi LV. The problem is surprises. TXP thought linking in to Shell would be quick, but Shell has been slow in terms of governance. TXP is getting positive signals from the minister and NGC re developing Cascade, but the environmental bods are delaying things. TXP thought it would have cashflow from Coho and Royston to restart drilling, but the tool got stuck in Royston. Bad planning, bad comms with stakeholders, bad luck, or a combination of all three? Paul's role is to be positive, we would slate him if he did an interview and was negative about things. I think he's now only going to announce things which are definite e.g. when Coho commissioned.

Yep, we'll soon have the chartists and TA types picking up on moving averages and the like. As soon as this ticks up, it will be 'green candles' etc.

Production and sales are not necessarily the same thing, as has been alluded to already. Storing that production has its own challenges.

I expect the company to be grinding forward with the plans. I bet they are as frustrated as we are.

Thanks 44RJ and AA. Yeah, I am ascribing nil value to Kiliwani. The seismic is a part line only, as part of an adjacent scan.

Oh come on Redbox, that was an amusing story. Helps pass the time while we wait.