Member Info for highlandmatt

Can't believe I've got my monthly top-up at under 50p this morning. Surely the last month with everything ahead?

From 32mins.

The Contingent Resources are in the CPR. However, that was before the results from Mou3.

I'm a big fan of PRD (it's my second biggest holding), but I think we are a way off £5 a share territory at the moment. I'd love to believe that number, but unless the company announces a deal worth $3.5-4bn, the market will not believe it. Equally, until the test results are known, resources proven up, a new CPR done, I don't think a purchaser would contemplate that kind of money. Saying that, a ratchet deal might be a goer, with valuations climbing as resources are proved up might happen. Say $20m for costs incurred for exclusivity, $30m for a 10% share of the subsidiary company, then further amounts based on resources booked, with an option to purchase the whole Moroccan subsidiary after the next Jurassic drill? Then you might get your large number.

There was this tweet from Malcy on 26 Oct, implying testing had started ('next' being the key word) "Nope, no one although I messaged Paul to ask for a chat his reply was terse and to the point, he’s busy on the ground prepping the next test. @PredatorOilGas"

Always possible he got it slightly wrong, but interesting that the testing is more important to PG than meeting lots of industry folk. Does that imply he already has a partner and indicative offer he is happy with?

An RNS announcing a sale could land tomorrow. Unlikely, but possible. The 'for sale' sign is up for Morocco. Have a read of 'the sleeping giant' on the PRD Reddit. Multiple sands, some up to 50m thick, spread over tens of square kms, plus the Jurassic. 6,000 square km licence equivalent to 60+ North Sea blocks. The potential is massive.

There's a very good cashflow analysis spreadsheet on the discord channel. Credit to Luke.

Short of money, in a hurry, during a pandemic when prices and lead times were increased.

A contract is just the written record of whatever is agreed between the parties. If the parties wish there to be a payment upfront for exclusivity, and stage payments depending upon achievement of various metrics, that can be written up.

The lack of news about Morocco is understandably causing disquiet on the BB. Shareholders are anxious and the vacuum allows some to spread FUD. However, joining the dots is illuminating to see the general direction of travel. Paraphrasing, and I'm sure those with more time to trawl back can correct any of the below if time has affected my memory:

Mou1 - Overpressure.

Mou2 - great seal.

Mou3 - gas entered the well. Greater depths of sands which are connected. Unsolicited offers.

Mou4 - Jurassic likely gas. Greater volume of gas than thought. Negotiating selling at well head.

Now, it was commented that PG and Lonny were moving with great speed (when PRD had limited funds), but are now going slowly when when funded. That doesn't make sense, unless you think the RNSs are untrue. If you trust the company statements, then it seems we have a s#*tload of gas, folk want to buy it, and the horse trading is happening behind closed doors.

This SP is bonkers. Even if TXP does no more drilling, and Casca only produces at 48mcfd, $3m a month is £30m FCF a year. With 233m shares, they could pay a 10p dividend, which is a 20% yield! (Well it was early on Friday).

Bulletin boards are for sharing information and speculation. I was always taught that if you can't say anything nice, then you shouldn't say anything at all.

Yes, had a small topupthis morning with the loose change in my trading account, but if it can stay low until I get paid at the end of the month, that would be great thanks.

Just boredom. I disagree about Ireland - the government has just stated the solutions we have proposed are the right direction.

I suspect there would have to be a tender, unless the government states it is an emergency.

Ah, US inflation data is positive.

Any reason known?

Nothing from Royston at present.

Nope, it's not a replacement account, as you can click the profile name and see the date of account creation. Has gone from GRH, to GRH1, to GRH1+, to GRH2. The 2% theory is as good as any.

Could these be late reported trades from first thing this morning?