Member Info for Ibiza28

Is that good news not sure.

I have a question that has been sitting with me for somewhile but really came home in my mind whilst walking round the golf course trying to hit a golf ball.

Is the find split 3/1 (ie 75 / 25) from the beginning

or

Do Morocco have the first call on any gas until their daily requirement is dealt with.

Or

Does Morocco have first call and then after that the rest of any find is split 3/1

As i see it there would be big differences on what would constitute a commercial find.

No i would beg to differ this is not 50/50 yes Morocco might be 50/50 but then there is Trinidad and also ireland. One is already producing and will find out more later and Ireland well lets just say that at some point the chicken is going to come home to roost as regards the Irish governments energy policies and to be honest i doubt if even Irish government knows what is going to happen there. But winter is arriving and someone over there will have to make a decision and we are one of the few players still at the table. Personally i think Trinidad could cover the current market cap of £60m in its own right with the next year or so and if that is right then this share is more of a free ;play at the current price.

Yes but if that gas is sold on at a ;price to AG then the sum is finite and not left to the guess work of the MMs and then what if PG is true to his word and decides to monetize the share by issuing a dividend. The SP would have to go up as everyone would want a dividend with the SP at 10p 25p or 60p. But does depend on deal with AG being made and the amount will depend on the flow rate over and above what Morocco needs on a daily rate.

I think PG knows that everyone will want to de risk ahead of testing Mou 4 & 5 that could be done by everyone selling part of their holding probably a major part of it to de risk but the other way would be issue a dividend from the sale of the gas there by everyone pretty well completely de risks but still maintains their holding.

I would agree 5th week is beginning now and we do not need an up date until all testing is complete and all results are known and then i want one clear concise RNS detailing what we have and what we are doing with what we have. When we start testing Mou 4 and then Mou 5 and a statement re funding if necessary. No results before beginning of October would not go amiss at this. Happy to wait.

Fundraise or no fundraise

I think it is straight forward. If we hit at Mou 3 and perforate the damaged formation chamber and flow gas then we will not raise as we would sell on to AG and use that money to fund Mou 5 or certainly drill testing all of it.

If we do not hit at Mou 3 then we will raise and probably at 3p unless we do a farm in deal or something through a debt raise. Management would have to start thinking outside the box then.

But for now i am confident that we will hit at Mou 3. If the gas is pressuring from the otherside as suggested then it should not take much from a powerful water jet to get through the casing (I would have thought). But powerful well directed Waterjet can do incredible things in relatively quick time. This might take a bit longer but i think will go in time.. GLA

Do not forget that alot of papers like this are advertising papers that are really only there to promote those businesses prepared to pay to promote. we are not paying to promote because PG does not feel the need to promote. the gas will do the talking.

From what i can see this is a Spanish / Morocco paper so maybe it is just concentrating on the European / Spanish news. I am pretty sure we are testing by now we will find out soon.

Cybertron

I do not believe he is a troll i know him from another website believe he is for real.

I would however suggest that you look back some of the RNS's and also some of the posts on here from people who really do know their onions.

But a few things to note

1) This is not a deep sea drill test but a relatively shallow land test

2) Much of the infrastructure ie gas pipe lines are already in place.

80p per TCF i would hope that this is out by a factor of about 5. I think that 6TCF could see this share reach about £15 per share but first we have get the CNG gas flowing. The demands for local market are not that high (yet) i think that will increase significantly once gas is found and provided cheaply to the people. The over spill is as i understand 75% ours at a proper market rate. Depending on the flow rates. Personally i would hope for at least 50p per share on this.

There is a long way to go and no guarantees but in this business this is the best bet i have seen for some time. Personally i still have skin in MATD but i think this is a far better bet.

IJWT

I am beginning to get the impression that had we started flow testing last Autumn as indicated we would have found only a fraction (I hope) of what is truely there. Every time we get an RNS we are getting bigger fields and more gas. now are are talking 6TCF net to PRD this is much bigger than expected. I am tending to go along with K Oz on his theory that shere has been an interruption in our planning from outside. I would say that to change plan now the evidence would have to be very compelling, very compelling indeed.

Would i have preferred this back last year not kidding i would but also the idea of missing out on what this might be would be a bit annoying for the sake of a few months. There is no free ride here so if we miss out it will be annoying. But at the moment we can still dream.

PV72

I think this sounds great but will we not have to put the infra-structure in place to get this to the market and that would cost umpteen millions i would think so i think it would take time and money up front. My money would be on a sale as i think it would be too big for us to handle and PG has stated he wants to monetize this quickly i think rather than leave it to the markets to work out a proper value per share.

Yes agree we are fully funded.

But even if we are not there are effectively three scenarios.

1) PG has stated he wants to monetize this share as soon as possible. So option 1 is we prove up Mou 3 i think it is for CNG market in Morocco and the overspill we sell on. By sounds of it we do not need much of a flow rate to achieve CNG levels so the left over is effectively ours. Sell this on to AG under already agreed agreement.

If required use some of that money to assist drill testing in Mou 5 (effectively de risked) Then hopefully dividend issued with remainder.

Alternatively: Prove up Mou 3 SP will go up significantly once we have a proven find then have a small raise based on that rather than the umpteen million shares usually issued.

Alternatively yes there is another raised (possibly) if the whole project tanks. We find no gas no oil no helium no nothing. Then SP drops from 10p to 5p and raise comes at 1-2p and this whole thing becomes a complete mess so almost irrelevant.

IMO there will be no raise because of option 1 &2 above.

Please do not feed the bears.

Applies Yosemite Nationsal Park

London Zoo

or on a LSE BB.

Take your pick. but heed the notice.

Yes and hopefully the people that be will find a way of expediting things so that it can get through to the people quickly it looks as if they need it.. Must admit my gas bills need it too but not as badly as they do.

I would be surprised if ISA's are capped or taxed. Not much point in having an ISA if they are going to taxed. As to £100k limit the isa was brought in 1999 by Gordon Brown so that is 25 years ago almost everyone with an ISa that old is going to be in excess of £100k. May max it out at £1m though but even then i think it would bring in that much and just antagonize the people Labour were trying to appease.

Let us not forget that Lonny used to work for Exxon and this is a pretty small industry where i get the impression everyone knows what everyone else is doing. I am pretty sure that there is someone at Exxon who is keeping a pretty close eye on what is happening over at Prd and someone will have our number very close by when the time comes. With Lonny's remark about the Tail and Exxon maybe someone has just touched base so to speak. So personally i would not be surprised if Exxon were there for there abouts when the bell tolls.

I cannot see 5.916tcf in here although that is only at quick glance. Must admit it is one hell of precise figure. Not 6 and it is not 5.9 it is rounded to nearest three decimal place. You could not make this up so i am assuming it must be mentioned somewhere by Scorpion but where, that report in January, i got the impression, was heavily redacted as to not resemble much that we know.

I think this might be part of the reason for the delay. I get the impression on what i read that every time they sent down a drill they came back with bigger and better looking results. The problem is that there are (if you excuse the metaphors) two separate matches going on here in two separate competitions.

1) An FA cup match and if we win that we will a sponsor (already lined up) in AG for the CNG to Morocco

Also if we win that we more or less progress straight though to playing with big boys in the European Cup Final or representing England at the World cup. If we win that the Sponsorship would be far far bigger than AG would be able to afford (IMO and with all due respect to AG),

In order to prepare ourselves properly we had to prepare properly and in this case that entails working out to far better detail how much Gas and Oil we have down there.

I am rather glad they have delayed because it means i am now on board otherwise i think i would have missed this but that beside the point. I think a few years ago this share might have gone to £3 per share but now just a few years on i think it would be closer to £13 per share and probably before we even think about the oil. So what do you want £3 a share three years ago with the new management team (ie a major) saying in a press announcement that the Gercif license had revealed no just 1.TCF but now showing at least 5.9k TCF plus an equivalent of oil. ~What would you be saying then.

Now i am really getting confused. The Rig 101 decommissioned from Sound which i think was or is the Sand Jet testing is the one that Lonny posted all those pretty pictures of back in early August almost ready to go (at that point) unless that is another rig Confused.com

I know PG has said he will wait till everything is over before declaring results but i think he will see that as per contract signing. For me Get the CNG gas flowing and confirmed. Sign the Mou with AG and announce. I think this may be what PG is referring to as M&A and divestment opportunities i think it was in last RNS.

Getting down to the Formation Damage chamber should not be too difficult unless they need to come in at a completely different angle as a hole was drilled a few months back. The question is how thick is the Formation Damage and how difficult is the mud/ clay ./ composite that we are having to fight our way through..If it is like my old Piggy bank then a matter of minutes but if as thick and strong as the gold vaults at Fort Knox then substantially longer. Having seen what high jet water did to my teeth some years back I would reckon it can get through anything. I b88888y well hope so.