Member Info for highlandmatt

I'd vote for $150m up front and a 5% royalty. 20p special dividend now and future earnings.

I'm sure for securing a national asset, some funds can be found.

I've brought my average down from 5.5 to just under 5. Once this Lonny thing is out of the way, I'll buy some more.

Lonny is in the Caribbean...coincidence?

In that case, watch out for CEG dumping just before the stage payments are due.

So next RNS should be 'we note CEG shareholder approval to sell 3 producing oilfields to Carribean Rex, a JV which PRD has a 50% stake in. This brings oil production to 170bopd and revenues of $x per annum"?

From a contractual perspective, it is clear the original agreed repayment conditions have not been met. So PRD is correct to hold the line, unless that agreement was subsequently amended by the exit agreement.

Be greedy when others are fearful. Buy when there is blood on the streets, even if it is yours.

There's cash in the bank, producing assets, and resources that have been found yet to be successfully tested, plus the Corrib joker (I wish we knew the terms of the offered farm in). This company is not doomed.

Because the operator doesn't know where it is going next, and the site is reasonably secure. It sat at Tendrara for months.

Keith is the best person to answer this, but in layman's terms there is now more info to achieve success. In this case, PRD has found the Jurassic rock layer it was seeking.

Not sure I would support that Rob. Firstly, I'm not sure shareholders removing PG is the right move or message (should be the board). Secondly If the idea is to remove PG, then the BoD should be free to appoint whoever they think best. Is Lonny it? So maybe decouple the removal and appointment resolutions?

And those wells are still there.....I wonder if PG was operating on the basis of how things used to be. Drill a few wells, get some logs, and fight off the majors tripping over themselves to secure prospective acreage?

Am I misremembering or did the change of plan come after a meeting with Afriqua Gaz? My recollection at the time was thinking they had maybe indicated the shallow sands were sufficient and wanted to get on with it.

Funny, we have folks advocating concentrating on getting Trinidad up to provide an income s safety first, and folks advocating testing and redrilling wells in Morocco as a priority.

Going for the known gas is the lower risk and quickest option. Either it's a request from AG, ONHYM or a decision by PRD. There may be a line of thinking that says you want more than one well to produce from, so in a success case, there will be enough funds available to sink a new low cost well to target both sands again, with lessons learned regarding mineralogy and mud.

I think you need to check your numbers.

Or maybe PG as NED technical advisor?

GRH for CEO....PG as Chief Geologist?

There's a lot of technical knowledge there you would want to retain though.

Thanks James. Would get me back to breakeven. I am anticipating that the CEG assets, plus Ireland, plus Mou3 CNG will see me back in to a healthy profit. It shows the importance of early cashflow, which when I first invested was the CO2 EOR project.