Member Info for Ibiza28

What exactly have Flagstaff said and when as i cannot find anything more recent than February and that of course is now ancient history.

Highlandmatt

I think PG went over ONHYM head on this as he had too as the sale of shares by EVA would have dictated something being said. Hence we got this wishy washy RNS that was completely equivacal in an attempt to stave off a potentential major problem.

I have two things running round my mind that i struggle with reconciling

1) Why did Morocco announce on pretty well the day we finished testing the building of major gas terminal. It would have been months in the planning development stage. But they would not build unless they were certain they had gas. Mou 3 would not have been swabbed so it could only be Mou 5, They could have jumped the gun assuming we had struck but then why would they be so cautious about announcing a discovery.

2) We are a week beyond when we stopped testing so i would assume if it was a duster we would already know..So i am assuming there is gas there and i believe the RNS inidicates as much. The question is is this particular part of the well viable or does and more to point can it stand on its own two feet because of the He,

3) I tend agree the RNS was rushed out because of EVA deciding to cash in some of the dirt cheap shares they got. Personally i am not convinced that they were not given a nod and a wink in he right direction that the findings appeared to be equivical.

YEs i think so. They are taking a step back to re assess the next move probably with a farm in option.

Remember they suspended this well two days early without going further down. I think with seal caught them by surpise and this needs to be added or subtracted from what they know or think.

When the next news comes out this share could easily open at 10p or nose dive to well below 3p.

There is very probably a lot going on in the background. that we will probably never hear of.

As always with Pred the comminication skills are zero. I really hoped that the appointment back in June last year would do something and for one RNS it worked but they seem to have been ditched and we are back to what we have.

I have now re read that RNS and firstly i was positive from it and still remain that way although i can understand why there might be such a negative sentiment.

Firstly it is the use of the language well suspended is used when a well is a duster but then goes on to say for further drilling.

SV101 has been taken down but remains on site.

The jurasic (IMO) has not been drilled yet.

But then you need to read the other parts of this.

A) Preliminary Results - Very early and not fully analysed. In many businesses it takes time evaluate all findings.

B) Newly found 30 metres play with Helium above expectations.

C) New Jurassic Project being put together.

D) PG i(I agree) is gagged by ONHYM from saying any more until verified. And that could still be another week away.

E) Indications are we found another 30 metres of gas seal plays that PG was not expecting.

Conclusion

Far too early to speculate. Share continues to be a Traders dream. For the LTH this is still a hold. Nothing to indicate Mou 5 is a duster. Every bit to indicate we have a new seal. I will admit Mou 5 maybe slightly smaller than originally thought but may be replaced by something else either equally as important and maybe even add to the CoS of Mou 5.

As always with PG the communication skills on paper are minimal but this reads a lot different from many i have read that are complete dusters.

If you really think that £18m market ca[p is over o[ptimistc on this share leave and quite frankly take your losses and move on to something else. But if you think £18m is way less than what TT becomes and that is producing. Plus what Ireland may or may not come up with but it takes time to change round policies of previous governments

Personally i have always felt that TT is a very important part of the whole Pred Strategy but it is taking a bit longer than planned to get there.

Having spent yesterday on the golf course mulling over the previous days RNS and its implications and being slightly negative i am now a bit more hopeful..

One thing is for sure do not be paniced im making your next move. Do not be swayed by anyone on here everyone and i mean everyone has their own agenda. I am sitting and waiting. If i am right about new plays then the next RNS will be a week or two away. If this turns out to be another Red Herring another RNS on Friday will give you that bad news.

This RNS is rushed and because of that (partly because of that) the messaging is unclear. I think PG wanted to keep this test results quiet until the full results were in but this was never going to be possible because there were too many people on site and with sattelite passes and people watching round every corner this was neigh on impossible.

One needs to read this as you would. Some are reading this as a glass half empty personally i reading this as glass half full. I have been in for while now so i might as well stay for a bit longer.

It is your money it is your choice. I am not going to tell people what to do nor should they be telling me what to do. If you are in the short term gains then this is still a perfect trading stock for you. But at some point soon this will start to become an investment share.

All i reckon is that if this was a duster they would have known long before end of the drill and announced on Friday late evening. I reckon two further RNS very possibly this week. One with more extensive information on test results and let us hope a better communications of what has been found and then one of the Farminee. Then i am hoping for a 3rd RNS announcing a special dividend if at all possible. But that is just my dreaming but dreams can come true.

Well cannot be more wrong will not be many sellers i would think.

It says results need confirmation but there is gas plus some Helium. Not an end result but very promising. My thinking we open at 10p.

Dickie

I hope it will be much sooner than end of June. As much as any agreements MA or otherwise might take as long os June I would expect news of any find/discovery to come earlier than that. I think once ONYHM have given their nod i would think something will leak over a 3 month delay.

From what I gather that technically any announcement has to have ONHYM and as they have been stung before by prescient announcement I think if it a decent then we may not hear anything for a week possibly longer.

Next week is the week

Part of me hopes so and the other part of me hopes not.

IF my view is right that the more we have found the longer it will take for us to get the news as it will need to go through ONHYM and be verified and who knows there maybe people sitting in the wings. And all of that will take a bit of time.

However if we have found something but maybe not anything massive then it is very possible we will get news next week. And of course if bad the RNS we should have fot Friday will arrive Monday morning.

My view (and it is only my opinion) is not to be surprised if we do not get news till the last week of March or even 1st week of April. I think there are going to a lot of i's to dotted and a lot of t's be crossed before we hear anything.

Of course if PG extended the drill as indicated by some then we are probably not at TD. However we would by now know of gas. So my guess assuming no major leaks in 10 days and if so it could be big. VERY BIG. GLA

That should read nettt to Prd not better.

That should read nettt to Prd not better.

And I think PG said the 6tcf was better to Prd and not gross.

Thank you and Wow.

I think Scorpion were using 12usd per mcf or their calculation of £1.48 per share. On any decent find that 12 would come down significantly with economies of scale but still would 2bn usd per tcf at an estimate. A lot of money.

MEM

19TCF is that what you think will come out of Mou 5 or all of the Mou;s and the rest of the field yet to be uncovered. What is your figure for Mou 5 the 6 TCF that is being quoted by Paul or higher still. Sometimes i think PG like many people when confident can err of the side of caution knowing that even the bottom number would be good.

Which ever way we are closing in on the end of the Mou 5 drilling. We do not know yet about Mou 3

If Mou 5 is a duster which i doubt then we should get results this week as drilling should be very near to completion.

IF Mou 5 has gas but non in the massive quantiities as described on here then I think we will hear next week.

IMO the problem comes with the last one. If we do find the 6TCF and a whole lot else besides. He might not be able to release this till he has complete independent corroboration. The difficultly will be keeping this quiet. As you talk about something the likely hood it is that it would get leaked out. So i would expect a leak and if this is too credible and a fairly quick RNS shortlyy