Member Info for Ibiza28

I believe the ITR will uncover the connectivity between the basins.

I also believe that PG is ready to move on from Morocco. That presentation was to do two things.

1) Be patient it is coming but maybe not as fast as he originally thought or we might think.

2) The idea of a full sell out was indicated by talk of buying into Africa.

He knows he cannot handle Morocco just as it beginning to get really interesting and Ireland (either litigation or agreement negotiations plus expanding well in TT and throw in Africa as well especially at a time when jet fuel might be severally restricted.

For me the question is what is the bottom line price our share of Geurcif without having tested it to flow. I know what i would want bottom line for the whole lot. I am rather hoping that Paul's might be higher and i think there are many people here who want more. The ITR when we get it will be very informative.

Nothing in this company is said without reason. Most of the time PG is very careful with his words and also careful with his RNS's etc.

So Presentation why was that done. there really was no need for it. It sure spooked the markets thinking another raise was coming that never appeared.

Reason for presentation was to assure us that all was going along as expected and let Paul give us his subtle hints as to what was going on.

1) This is bigger than many people think (PG hint clearly stated)

2) It will be longer than anticipated ie 6 month deadline that was why the presentation was made to reassure us all.

3) Africa and other interests. Basically i think PG knows he cannot handle Africa, Morocco, Trinidad and Ireland all at the same time especially now with the current markets in turmoil and expecting to remain as such probably into the new year. This is PG speak for Pred starting to exit the whole of Morocco.

Not drilling Mou-6 (someone else will take that on at the moment)

I had picked up on Well Head and Mine Head but could not place why until GRH mentioned it. So just maybe there is a US major involved or at least a major with a US Geologist as Well Head is from what i can tell a US terminology among Geologists.

If there is it may be attracting even more attention given the current world situation and any major find or potential of major find could and should be attracting a lot of attention World Wide. And i have no doubt the whole Oil and Gas world will know about Guercif and what we have and have not discovered.

The Guercif region and what Pred have uncovered and not not uncovered is becoming more and more list Churchill's quote on Bikinis's "It is not what they show that is interesting but they hide". (same quote apply to statistics).

In this case it not the gas he has found and has failed to flow (yet) but the infrastructure that surrounds this whole gas field

84 Square KM if i am right of potentially saturated gas fields. (Nugent ITR report when it comes will be pivotal)

Good He discoveries at around 1.557PPM

Known Oil Reserves. ( from 1930's)

Major pipeline just needs updating almost on your doorstep.

And then out of nowhere DT comes long and blows the whole world's concept of Oil and Gas security right out of the water probably for ever.

And where is Morocco based on the Mediterranean (secure country or seems that way) just a few hundreds from the southern edge of Europe and easy access out into the Atlantic.

What was already big potential has become massive.

Question is how much is the potential now tilting the probable outcomes and what has been proven up over time with Mou 3.

I have a feeling we are going to find sooner or later.

At the top end my view is we are exiting Morocco in total possibly by end of the year. The question is what is our residual interest as i am certain would want to retain some interest and i am sure as shareholders we would as we

If PG wants to go and play in Mauritania, Somalia or else where in Africa he is welcome but please do not think we all want to be part of it. He should issue a prospectus with what he is expecting and or hoping to find etc. Personally i would like to see him fully divest Morocco either in full or with a bit of residuals before he even starts to consider looking else where.

I would want a special dividend at a decent level and then i would like to see a complete restructure of the company so that we can make our choices go forward. My thinking on this would be to buy back 9 shares for every ten hold.. After all our current shares got properly diluted driving Morocco forward so time reward shareholders for their patience. The assumption that all shareholders will want or like to be new ride would arrogant and wrong. I think PG knows this and might well think of this suggestion. It would at the right prices give us a decent return and if we want the residuals and Mauritania then we would still have a free ride and money to support. On my suggestion the revised capital of the company would around 98m shares..

Personally i would want out after Morocco and just maybe retain a few shares for any residuals that might come through and i would hope not to expect to chase a share price that would obviously fall and i reckon that i am not the only one that would want of this roller coaster ride after divestment.

I think the Fat lady has indeed woken up and is clearing her lungs ready for the finale however i think the encore might be even better than the performance.

I am beginning to think that there are far more than just one set of talks going on. My the current Geo political situation is moving things a long a bit quicker i do not know. But i there is one deal that is imminent. I am not sure but do not think (someone will know ) if Mou-6 was part of the original talks. I always reckoned that Mou 1 and Mou3 were in this and we would use the money from this to fund Mou-6 clean up and flow. If that is right then there are talks and deal done on Mou 6 as well.

With all this talk about other opportunities PG reckons that he (we) will be out Morocco by year end or even early 2027 other wise he would splitting his time just as Morocco is coming critical. He realises he cannot manage both and i think this is another not that subtle hint that progressing quicker i think even he anticipated.

What i say what would your price bottom line on exciting Morocco in full ( Gas not flowing yet). I know what my bottom line figure would be. i have my figure but would ideally want more and would be my starting point. Below i would not consider it. everybody would have theirs

Madman

I could not agree with you more. I am a relative newbie compared to your six years. I have been here just under 3 years. Averaged at around 8.5p and so well under water.

I agree with you do one job properly put some real value into it and then move on but let us share holders decide whether to join you on the next crusade. At the moment every time this should go up it goes down.

One easy way to do with would be with a special Dividend. I do not think that you and I are the only ones averaged over 5 or six pence and there down substantially on our holding. but a SD of around 20p would do the trick very nicely.

From that latest interview and i do wonder if PG is planning to stay in Morocco much longer and maybe someone has made him an offer he cannot refuse for the whole of Morocco. Mou 1 , 3 5 6 etc etc. The question is if this is the case what is the bottom line that Paul would consider as acceptable.

I have a feeling we are going to find out fairly shortly. Probably after easter now. In which case will not be a need to suspend the shares as the Easter holidays will do it for you.

Tincan i think you maybe out by 000's in your calculation

375 per MCF

375000 per MMCF

3.75m per BCF by my calculation

This and a few other things not related to this are puzzling me.

The others i will not bother you with but This was a good RNS not absolutely out of the ball park but pretty good i thought at least. the board shows we have had 3m buys to 1.3m sells and the SP falls 1.2%.

What does it need for this SP to follow any sustainable price movement.

Do we know from NABI what the total enhancement costs are because then workout how many barrels we need at 100usd to pay them off.

I see the Nars gas production plant has been attacked.

Just as matter of interest if everyone started to really work at getting things flowing around Mou 1 etc how long would it take get production up and running. I am not talking about usual timescales but fasttrack timescales because i am a bit suprised somethings are not moving quicker.

We beginning to reach the point where news should be coming in regarding Divestment of part of or all of the shallow sands gas. This should be a major re-rate for the share price (not before time).

I apologise for my last post where i allowed my enthusiasm get in the way common sense and i thank Sygmaa for pointing the obvious which i worked out for myself and realised it was all complete pie in the sky.

So i hope that what i now post is not pie in the sky. ATM we have 816m shares in issue and probably another 140m to come in Warrants Options etc. So working on a 960m share cap. I have had a few thoughts and will share those on here and any feedback would be useful.

1) I reckon the share will be suspended before the announcement.

2) The announcement should be either the 1st April or more likely just after Easter. it maybe the shares will get suspended just before the Easter holidays,

3) The shares will only be suspended if the expected up lift in price is significant. I will stick my head out again here and say that an up lift from 3.5p to 35p would not be read as being that significant a price. Anything from 60p upwards would be construed as significant.

The final price is going to depend on what Nugent have up lifted the reserves by.

So first of all the please all trolls the bottom price is zero because we cannot sell what we believe we have. Given the current Ge-political situation I would be staggered if this were the case as i think would most people on here.

So bottom price in my view is approx 150BCF in the shallow sands (C1 63 and C2 84BCF) as indicated on main web pages. It seems the and i stand to corrected the average price per MCF is around $3. Therefore by my thinking bottom price is around $450m or around £320m and 33p per share.

However i think the price that Paul will achieve is somewhere between $4.50 mcf to $7 mcf. This would obviously need to be discounted because as yet nothing has flowed.

However there are a number of things in our favour.

We are not 100 miles out at see and 1000's of feet below the sea bed,

We are on terra firma. We are within striking distance a major gas pipe line and it is not far below the surface. So a big premium on the price but discounted for the fact nothing has flowed yet.

My reckon at something near the top end would be around 200 mcf C1 and C2 ie about an up lift of around 1/3 over original estimates shown and using 5$

the upper price is 1Bn USD. This is around £750m and around 80p per share;

Those are my thoughts. GLA

I have mentioned this before but now think it looks even more atttractive as an option.

Prd build up TT and around about a year from now divest it self of about 80-90% of Trinidad and retail interest in around 10%.

We divest now Mou 1 Mou 3 etc around 80-90% and retain 10-20%

We then divest Mou 5 around 80-90% and retain the remainder.

Each one is divested with a different quarter end date. Residuals paid every quarter.

Therefore constant dividend flows every month.

This would attract almost every pension fund there is. A sure knowledge of income every month of the year.

Estimate number of shares after all options etc. 960m. 5p per share 48m dividend per month.

And that might fairly conservative. Is this out of the question. I not think so..

If this were to happen then i could see Prd becoming one of those must have shares. It will not be exciting but would be a considerable income for almost anyone.

A mere 100000 shares currently costing around £3500 would net you £5000 per month and if in an ISA that is complete retirement territory to most people.

Not exciting but by goodness could be very rewarding.

I do not think this is impossible.

Are you sure you are a believer because you sound like a trader who needs to cover their position.

Just be patient this is likely to be a long wait. There is no real finite date so my reckoning if we are to get the max out of this share you will need to be very patient

Now that is interesting. My guess is something has leaked. I said it would. Quite frankly it could not remain completely silent But we will see.

Oil and Gas is about to go through the roof.

We have both in Morocco. the oil we know is there because it was there 100 years ago. Extraction costs have probably dropped as a percentage of price of oil and are probably better now.

Gas we have and we have it fairly shallow depths so not too difficult to get to it. It is not flowing yet but this is a perfect opportunity to get in and get a large amount of your costs returned back very early.

Gas at shallow depths.

Ready made infra-structure in place by and large.

It would not take much to get this gas to the market if someone really put their mind to it.

If the current parties are dragging their feet if this war goes on as anticipated into the spring. Someone is going to be ringing PG almost off the hook and want our stuff almost sight unseen.

My advice to buyers do not drag your feet too long as you may miss out altogether and miss a very rapid (brief) pay back period.

One wants to be in and not out. Not right now.

Thank you keith what i suspected a far greater than 10% change in the payback period as the amount owed is static. Most of the price increase comes to us to pay off the costs.

Oil prices in particular have a habit of going up quickly and coming down slowly. So we could well see high oil prices for quite some while. At the moment it has only reached 78.32$ per barrel but could go much higher if they start attacking the refineries. Currently it i gather 10% I would assume we are would get to repaying NABI in 10% of the time if not quicker much quicker. Has anyone worked out how much quicker. Assuming production figures that we already know.

I rather hope the ITR we get next week is on Mou1 and Mou 3 up lift. I would ask Paul not to mix in Trinidad or any other assets. It just confuses the market place. As we already the market has the attention span of a 5 year and there are some members on here who probably have an attention span of even lower age than that. My apologies to all members who have children or grandchildren brighter than some of our members as i am sure most of them are. It would not be too difficult. So Paul put the ITR in words of one syllable and stick to one are at a time. I know it is more expensive but some people need their hand holding all the time. They still learning how to tie their own shoe laces.

I still strongly believe that Paul is gradually building up/ developing the assets in TT along with a potential new purchase. Mentioned in RNS for last raise (obliquely). I believe the intention is prove them and get them up and running properly and sell on the whole of TT debt free and 100% so there is no possible problem with on going partners and then sell on. Who knows maybe Shell maybe Exxon. TT because of the Geopolitical uncertainty else where in the region is suddenly looking like a good place to be.

Where are we. Good question. We are either at the heart of Aladins Cave or we are completely lost. I believe, i suppose because i have to now, that we are at the entrance of a very big cave. As we explore the chambers and we know they are there we will find some stagerring riches. Gas, Oil and Helium. the question can we get to it. We have a very good crew alongside us and i would like to think they believe as well.

There are talks going op at the moment and are supposed to be in an advanced stage by now. They have been as my wife would blah blahing now for best part of six months and meant to be coming to a conclusion around now Jan/Feb was mentioned. But as with a lot of things with Pred time means very little. If you are in this share for a quick kill you may get lucky but be prepared for a long run. I was only meant to be in for a year about 3 years and here i am still waiting. But a lot has been learnt in that time.

My view is (for what it is worth) PG is in divestment mode at the moment. Maybe he has been told by his wife it is time to stop playing sandcastles in Morocco ( although i am told it is not desert) and time to come home. So some time between now and the end of 2027 we will be out of Morocco and Trinidad and we should know about Ireland by then as well.

The talks should be on the final chapter possibly on the final page. I think we will news early next week as that now falls into March. It will be either that talks have broken down but then all this other news around ONHYM makes me think something is brewing and we are waiting to get all the ducks in line as far as the authorities go before making any announcement. So next week beginning of March we find that we have sold something or whether we have to sit and wait again.

One thing is for sure this share will re-rate. The odds are on upwards but i rule nothing out with Pred. I have my holdings here in many different pots. But with 10p I get the whole investment back with just two of those pots. With 20p I get the whole lot and more from just one of those pots. So i am waiting to see whether Paul is good to his word and sell. And hopefully a special dividend to de-risk the entire holding. GLA

My reckoning is the ITR and the divestment (in whatever form that takes) will come more or less together. Either at exactly the same time or maybe an after hours RNS followed by another one at 07.00 the next day.

Also i think if PG gets wind of that there is a leak I would not be at all surprised if the RNS is published and then the share suspended especially if a good deal.

Then hopefully a nice special dividend would be good. Very good/, I live in hope.