Member Info for highlandmatt

I remember calculating future cashflow from Coho and Cascadura, and coming up with £1.50+ per share. That was prior to Casca deep and Chinook. So the current SP is a complete bargain.

https://www.revenue.ie/en/companies-and-charities/dividend-withholding-tax/who-should-withhold-dwt.aspx

BTW, I don't find GRH's potential valuations fantastical - they have solid workings underpinning them. I mean they might blow some minds and SEEM impossible. They are not impossible.

Thank GRH for setting out the possibilities. For those who find that a bit fantastical, here is a simple conservative valuation, using the example numbers from the RNS. (Which PG has PG has chosen for a reason).

£14m net profit per year at a p/e of 10 gives an mcap of £140m. That's more than 4x current. Without anything for Ireland or Trinidad.

I see that as very much an absolute minimum, but we'll know more in 6months. Hold on tight for whole the ride, folks.

Malbrad - I'm expecting something by the end of this month, with results then coming in over the following weeks as each zone is tested in turn. So yes, we should know a lot more come mid April. Exciting times.

There is no doubt that if Ireland comes in, with PRD a major grid energy supplier, then the SP will rocket off the scale. There are other options with Ireland too (e.g. CCS). However, that depends on politics.

The T&T EOR business (no longer a pilot in my view) underpins the current SP, giving a free shot at Morocco (as GRH has consistently highlighted).

PG is now talking about and planning a 5-6 well drilling program in Morocco. PRD doesn't have the cash for this currently, but PG has that confident smile at the moment that tells me he has something in motion. My hunch is some sort of agreement, conditional on the first well, which is now known to be end Jun. So by around end August we should know a lot more.

Boy is this going to be an exciting 6 months! :)

As highlighted by MEM, a number of enquiries re EOR, some NDAs signed so far, PRD will pick the most beneficial to work with. So we are in a position to turn away business. I'm really looking forward to the unveiling of the 'marquee signing' which has measured up to PGs criteria.

Yes, given the expected news flow over the next few weeks, these prices are so tempting I'm now trimming other holdings to top-up here.

Welcome. I'm sure you will find it a smart move.

Vegas - good info. So SDX have the rig Apr, May, June; PRD July, Aug; then SDX again in Sept.

https://www.proactiveinvestors.co.uk/companies/news/943700/predator-oil--gas-raises-1785mln-in-placing-943700.html

Just watched it. Good job. I believe that is the biggest challenge - finding the companies in the first place. I came to TXP through a tip from Mount Teide (thank you!) on Central Asia Metals. I can't remember where I found CAML from, I think reading an online review of commodity stocks. Predator has been a good find for me, and I think that was a Malcy review of small companies. I take these short lists, then do my own screening. How does everyone else find the hidden gems when they are microcaps?

Blackdog - re transferring to ISAs. I did the same with Touchstone. Had been using a trading account for years, with no intention of selling much, then had a realisation that if TXP was sold, then my CGT bill would be painful. I'm with Iweb, so opened an ISA with them. Worked out that if I sold £10k worth and the spread was 4%, that would cost me £400. So, what I have been doing is this (this might only work if you are comfortable the price is only going up):-

1. Put whatever spare cash you have in your ISA (let's say £1,000).
2. Buy PRD through the ISA, so you now have 'extra' shares that you didn't have previously. (let's say 7,500)
3. Wait for the sell price to equal or exceed what you bought at.
4. Sell the same value (£1,000) from your share account. This should be less than or equal to 7,500 shares.
5. You have now transferred one tranche, not lost any money, and hopefully even gained a few shares.
6. Repeat process. A word of warning, it gets harder to make inroads as the price goes up.

Isolating doesn't mean has tested positive. I work for the NHS and have been supporting care homes through the pandemic. We've seen lots of situations where one staff member testing positive takes out three or more 'close contacts' The ones that share accommodation, or transport to work, or have worked in the same room. Care homes that have outbreaks can have up to a third of a work force off initially, a tough couple of weeks, and then improves once the isolation period is over. It can take weeks to fully resolve, but at the moment the company states that operations are unaffected, so not a big issue at the moment.

Alligator - yes. This time next year we will have substantial production which drive valuation. If 10mmcfd from Coho = $6m per annum, then 100mmcfd from Casca (x2?) and Chinook = $60m. On a p/e of 10 would give a mcap of $600m or £450m. 50% up on today.

Or folks can't read, have unrealistic expectations, are impatient, or need to sell for another reason (e.g. closing IG position).

One other thing. The oil price has gone up! An extra $15 per barrel, even if we only get $10, @ 1400bopd = $14,000 / day. That is another $5m straight to the bottom line. That should be worth an extra £36m on the mcap.

I've read the RNS, and watched the discussion over the last couple of days. In summary:-
1. TXPs reserves have been confirmed for Coho and Cascadura, with a markedly higher NAV, higher than the SP. Confirmed by multiple broker notes.
2. A 'bonus' zone that we were unaware of and happened to 'sniff' while drilling zones above, proved to have oil shows, and points to a another location where this zone might be developed.
3. The zone above, which was actually targeted, is now being prepped for an Extended Well Test, which points towards commerciality.
4. Further test results on the 'world class' discoveries are due in the next 2-3 weeks.
5. The SP has fallen.

I've had another scrape around the sofa and topped up, again.

I think (i.e. my view) it is a little too early to be shouting from the rooftops. We have pilot in T&T, no confirmed resources through drill success in Morocco, and nothing concrete at present in Ireland. Lots of potential yes, but maybe nothing that PG wants to promote yet. Maybe that will change if Morocco hits, but in comparison to some shares I have, PRD/PG actually issues a decent number of detailed RNS's and gives plenty of interviews. I'm happy with the current approach. Everyone is entitled to their views, and I'm just putting my perspective, not trying to convince or 'shout down' anyone. I like this discussion board, there is good civil debate, which is healthy. Good luck all.

Expanding the team and bringing in one or more extra geologists to work under XM? Expanded drilling program?