Member Info for highlandmatt

The real ask is 6.10, so all the trades at 6.08, 6.09 are buys. The algorithm is just painting them red as below the midpoint of the stated bid/ask.

I give up. If you are not prepared to have a reasoned debate, then this is just a waste of my time. No, I'm not on the payroll, just a long term holder that is sometimes guilty of trusting folk and being optimistic in nature.

Hi GGG. You present one viewpoint. Here is another. Some of this is Devil's Advocate.

1. It takes two parties to sign a contract. The other party refuses to rule out higher bids, which is reasonable. Should have had a compensation clause though.

2. It seems no-one has ever experienced an FCA registered entity not putting up placing funds.

3. The bank insisted on the balance sheet being shored up if we wanted the RBL for CB. Alternative was a placing to fund acquisition.

4. Understandable when you have assurances that the funds are on the way and told it is just paperwork. Tricky, as soon as you tell the market you need to raise, the SP craters.

5. No comment.

6. Really? Schlumberger advise that you can use a different mud and save money. Sidetracks are normal. Tools/drill strings getting stuck happen.

7. We were in a tight spot with the bank covenants. I don’t think he had a choice.

8. Fees are the cost of doing business. You want a mortgage, you pay a fee. You want legal advice, you pay for the solicitor’s time.

So is your trigger for an EGM based on geology over a mile underground? Not sure how that is the CEOs fault.

GGG - you ask how we know Q3 results will be in the next couple of days. 2024 Q3 was 13 November.

A look inside the Aberdeen operation. https://www.youtube.com/watch?v=2ajC0MkTpcY

Optimisation like has happened at CB? Like a pump for Cas 3? Like the compressor? In my opinion the major issues have been with Cas4, fundraises and contracts. The CEO will be relying on his operations team, FD and legal team for advice and execution on those. Yes, the buck ultimately rests with PB, but without knowing the details, changing the CEO might not resolve the above issues. PB deserves some credit for building the business, the team, not overpaying for TRIN and acquiring CB.

And what would the plan be for this surgical team? Drill CB wells? Bring Cas 4 on line? Install a compressor? That is the current plan with the current team. CB has been acquired. The rig team has already been changed out. The fundraising has been done. Other than not liking PB, or seeking to punish for missteps, what are you hoping to achieve?

Could it be a sequencing of capital issue (as we would have to fund those reagents)? Or a capacity issue with the production of reagents?

If the ex-CEG fields can be doubled in output, then PRD should be receiving $1.4m annually, which covers the corporate overheads. Having seen the myriad of companies on the presentation, I wonder if there will be some rationalisation there?

I think we need to look at the mcap. CizBio was predicting sales of $30m in 3 years. They are 12months in? 10% gives $3m. Let's say £2m profit. Put that on a p/e of 10 = £20m or 5p. But that is just the start, and proves the model. As that ramps up, so does the income. Then there is UK to follow. Then other areas. These will follow quicker once the test is accredited and commercially available. However the real value will be when a larger fish decides it wants the tech and future revenues. An organisation that already has the labs and hospital contracts doesn't need to be a virtual model dependent on franchisees. It could take the whole operation in house. I was in Genmark when Roche decided it wanted it, for $1.8bn. $500m would be £1 a share. $100 is small change to big pharma but would still be 20p here.

He also said field valuations are based on production. So you want to sell once you have maximised the potential output. We are at least a year from that if you want to sell the lot, including Cory Moruga. But if someone came in and offered $1m for Bonasse, I would be tempted if it funds Mou6 organically.

Ah. I wonder if the 8bopd came from 50% of 16? 170% on 16 would give 43.2bopd, 21.6bopd net to PRD. If so, all going to plan.

Saw that PP. I seem to remember it being mentioned in a presentation that it was 6, 8 or 10 bopd when the wells were reopened, but can't find it.

It was 16bopd in March, following workovers. https://www.lse.co.uk/rns/PRD/operational-update-and-commencement-of-oil-sales-a0weyvgqnn1qkqb.html

But I think it was less at acquisition in Jan.

Can anyone find the original production at Bonasse? Trying to ascertain current production from the 170% increase.

Https://x.com/PredatorOilGas/status/1986475209470132467

Nick - not sure what the M62 traffic has to do with PRD? Link corrupted?

Directors talk.

I think it was last year the EU/EC fined France for not having enough renewables, despite it's CO2 emissions being much lower than Germany's, which was not fined. Germany shutting it's nuclear power stations and relying on dirty brown coal (not even anthracite) must rank as one of the worst decisions and most bizarre examples of green madness.