Member Info for highlandmatt

Compared to last week, we have had good news from the Karoo EWT and a 10% dilution. Yet SP is down 30%. Feels over done to me. I've bought back to shares I sold at 2p.

First question, what's the depth and time taken? Shallow wells are cheaper. If the location is close to services, mobilisation costs are lower. Third, multi well programs drive efficiencies in sharing costs.

The case for the acquisition is for $8m you get $2m a year back for 5 years, and a 50% stake in something that is making $4m. So the $8 stake is still worth $8m and gives a income of 25% per annum. It looks a good investment, just a shame it couldn't happen in a months time after the basement EWT results and a higher market cap.

Or you drill a second well to tap the other section. Standard practice with multiple horizons.

I was almost about to agree with you for once. Then you spoiled it with the second sentence.

There will be a day when the courage of men is rewarded, when the research will pay off, when the market recognises the value. But today is not that day!

*Credit Aragorn

LTH here just sharing a thought for those querying why some might sell. I have repeatedly averaged down on the placings, and sold a proportion subsequently. For example, I bought 80k shares at 0.53, and have just sold 30k of those at 1.98. A small profit and 50k free shares. I still have a core holding, and now cash in the account in case there is a surprise placing. I don't think there will be, I think they will wait until after the EWT results, but just in case, I sold 10%. Whatever happens I'm happy. If it goes up, fantastic, 90% upside still. If there is a placing, I congratulate myself on playing the trade and go again. Remember - pre revenue in Africa is high risk.

Look at the projected revenue growth and profit margins. Don't forget we get both sides of those projections. The royalties go to us, and we get 10% of the growth in Ciz Bio. So year 3, we receive $3m+ for royalties and Ciz Bio is making $30m, so has to be worth $150m (at least £10m to us). Also, do I remember there is a deal around the supply of reagents?

Ignore the share price. Concentrate on the market capitalisation. What do you think the world's largest primary helium resource will be worth?

Just need to wait. Only been 4 clear working days since 13th. I have the opposite - credited the shares, but the money is still in the account. Just takes time to work through.

....he's the main geezer...

Not really. Keeps their valuable asset at a secure location at no cost to them. Entirely understandable.

Anyone got their share allocation yet?

I think it's simpler than that. PRD is prioritising the most bang for their buck. A successful testing program will do more to advance the business than another drill. Even if Mou5 was a success, the skeptics would still be pointing out that nothing was proven definitively.

I think Nigel is after the recent follow up report detailing the Jurassic structure. As far as I am aware this hasn't been published yet.

Ibiza - we are doing 'rigless testing' at Mou3, so don't need a rig for this.

I think environmental clearance is for 10 Casca wells at the moment.

Or AV, you could consider it as working in partnership with the authorities and populace. Builds relationships.

Company has stated results will not be communicated until the Mou3 program is finished.

Thanks Nigel, I know that is what was said. What I was querying was your assertion that a rig would be mobilised for one drill only, then sent back. So, was that a huff, or is a larger drilling campaign planned?