Member Info for Ibiza28

AGD62

I do not fully agree with but generally take your point. The woman baking her bread to feed her family and selling it through the corner shop in Marakesh is never going to be deemed the same as a big company chasing 1.8bntcf of gas, consequently i think that the "mourning"/contemplation time for us is different as it would be perceived differently and a lot of this when in another country is down to perception and playing the local politics. So i think the time would be shortly after a suitable period of time. Just my opinion and i think that PG seems to fully understand these perceptions and whilst they are still uncovering bodies and by sounds of it a lot of bodies in areas they have not yet reached i fear this tragic incident is going to be going on for a few more days yet. My guess is we will get an RNS around the 25th of this month ie Monday week.

I think this was a little of MB giving the process a little kick up the back side. The buying of land or exchange for new land has started. Some and very possibly most have agreed and settled but i would reckon there are some who are dragging their feet and the local government is not pushing too hard. so i think this little interview was to let everyone know there is no alternative the rules are not about to change so concentrate on the game otherwise liable to get left behind. It is not done and dusted yet but MB feels it is very close hence the go ahead for the interview.

You are right and i fully get that and i assumed that no mention meant (to me ) that after an appropriate time we would start work. What is an appropriate time that is how long is a piece of string. In this case it is when they have stopped digging unfortunate dead bodies out of the rubble i would reckon.

Was that RNS

1) We send condolences to Moroccan people

2) We send condolences to Moroccan people but we will be continuing to plan and press forward as it is not in our area.

3) We send condolences to Moroccan people and out of respect we will delaying our drilling till that is over.

Very difficult to tell.

Hopefully we are not far from news. If that interview was the one held about a week ago then it is already a week out of date and wonder why it was held back either on MB request or by design from Bloomberg. I have a feeling that news is not far away. It seems to take about a periodic quarter to get anything sorted March o June to get first part of Special Permit then July through September to get the province sorted. Hopefully this is the last hurdle but i would not be surprised if there was another one to come.

Whilst i do not disagree that MB should go i certainly do not think now is the time. Let's get producing then try but to be honest i do not think you have much hope unless Petrovis go along, because with Petrovis and MB's 11m shares then i cannot see much hope of him being ousted.

Keith

Is yours just a typo or have you miscalculated. The number of shares in issue (i believe) is 562.5 and not 526.5. Can you confirm.

With the news of the Australian strike going on this would be a good time to realize the potential we do have in any shape or form. As i see it this could be genuinely transformational for us and for Morocco and something with which to rebuild some of the ruined buildings.

I agree with DIringer that MB may have found the oil but is not the right man to lead us forward. But not right now. There is a real danger we try and oust MB now and we would throw out the baby with the bath water and we would be back to square one. Wait and you will be rewarded. Get rid of CEO we might lose the government backing and we might just discover new obstacles in the way. On top of which the sP would tank short term. Sit patiently and hopefully it will come in next couple of weeks. This is not the time to be changing skipper.

I do not agree a lot with what Master82 says and i think he has a bit of hang up about what MB did in Mongolia 5 years ago. But he has raised today some very good questions one of which for the first time i checked out of google. And if he is right that MB is spending most of his time in Singapore and it would be good to know for sure then we need a new CEO, I had not realised that Mongolia is 5180km from Singapore and is 9hr 35 minute flight if direct but most need a change. Until now it never crossed my mind how far away it was. The other questions as to why locals are so against us when PC are drilling and messing up everything around them and why the government are not being more directly assertive over this issue. I think these are good questions that need to be answered and i really would like to know how much time MB does spend in Mongolia and it would be nice to know how much of the language he can speak and understand. when he is not there i am assuming that Petrovis are the point people and i would like to know how much of an active part they play and are playing in all of this. If MB is flying back and forth to Singapore then i think we deserve to know who is running or managing the shop in his absence.

Oil refinery 1st stage 92.4% complete and here i was thinking all the money for the refinery had been siphoned off, pilfered, stolen and that nothing had been done. Silly me.

I have taken your projections per share to see what happened elsewhere over history in terms Gas finds and buy out prices and find it all very conceivable. I am not saying it will happen just saying the SP when multiplied by the number of shares give Market Cap Values of 2.4bn at the bottom end to a £15.5bn. It does sound like fantasy but then we do have very few shares in comparison so almost anything could happen. I think the middle and top end would mean a buy out. for certain IMV. The bottom end possibly not but then who knows.

You obviously know who they are must admit i have not seen any real rampers on here. I place my bet on the RNS's i have read both and the posts i have read here and else where and have decided that it is worth a punt so it is my money my choice. The question who or what do i listen to those who seem to supply information from factual information or those who just say wrong or rubbish with no support.

In the days when i took over departments or companies one of the first questions i always asked why do you do this this way. When someone said because we have always done it this way was not an answer it was just an excuse. And this is what i am reading now. I would really like something to form a better balanced opinion and i might be able to get out without losing too much but at the moment i have no evidence to the contrary. At the end when this share tanks i will come and say yep maybe i should have listened to you although you would give no evidence.

Dissipline.

I am new on here and i read this piece that is all put together from the various RNS's and the piece on Reddit saying something very similar. Now unless it is the same person and i do not know. If you think this is all a pure ramp what is your belief and what do you not believe. If you do not believe PG and the RNS's what is your evidence to the contrary.

It is not fair to others on here to just say a load of rubbish which is effectively what you are saying without coming up with your calculated opinion of the share price otherwise you are just trying to talk the share down which is the same as trying to ramp the share in reverse. The difference is this ramp has a lot of evidence to support it. Yes i am sure there are one or two assumptions in there but from this angle nothing i can see that makes complete nonsense. Please give your considered calculations. Down side, up side and middle values would be much appreciated from all of us.

Researchandhold - Battle weary

Yes you are probably right a bit battle weary but also i hope a realist and pragmatist. Will we pump oil yes we will and hopefully by the end of October. But not for a minute do i feel that this skirmish in the Eastern province is done and dusted. It is fairly obvious that we are not really welcome by the locals who perceive us like the Chinese as being callous and un respectful of the land they are working.

Now the work we have put in with the local community will and probably already has paid dividends interms of the good will it hopefully has brought us. But MB is not going to be on site through the drilling he has far more important things to do than site supervise and i really hope he has a strong minded Mongolian (preferably Eastern Province) Mongolian to site supervise. Our drilling will probably be DQE, DQE are a chinese company and their workers are probably Chinese and the disregard they have for other peoples property as seen by my post of what they have done to the Great Wall I think is systematic of their nature. So i would hope a strong site manager will put stop to the kind of abuse to the land that PC seem to have done to it. Otherwise we will get tarred by the same brush and the complaints will double up in volume (Look what the white man has done). At some point this will probably come to a head and then we will see exactly how supportive the main government. Hopefully they will be a friend and stick by us the law changes hold up or they just allow Eastern Province to governence its own region. Ie they have helped so far but now down to us.

This challenge will come (almost as certain as night follows day) just a matter of when and to a degree that will be down to our site management. If we do it properly the complaints should fall on deaf ears but if we do not then this could get ugly.

If that is battle weary then yes i am but still a pragmatist. Will i get what i need out of this share i believe so, will it make my fortune probably not as i think too much rests in hands of Chinese workers who seem to have too much of a care free attitude to other peoples property even their own country's national monuments.

Hmm

This share has been played like a yo yo or by some good enough here a Stradivarius. And it will continue to be played like one for a while once the LP is finally sorted.

This has taken sooooo long to get through all the various channels no one is really going to believe until the first oil is out of the ground, on the back of a lorry and delivered to a Chinese refinery and the money banked and even then it is not really going to be believed until the first real test comes from the activists or even the local politicians still opposed to us. That will happen when or how i do not know that but this will be the real litmus test to see if the MG is really prepared to back us then this will move. Sorry but that is how i see it. The proof will be in the pudding and not the glazed gloss exterior.

Many thainks for this Bob very informative. Not a given by any means but close to one. I am gambled in and very hopeful.

I would hope for an RNS on Monday at latest saying drilling started Saturday.

If we do not have an RNS by the end of next week at latest my conspiracy theory mind would think there was something brewing on the back burner that is quickly being brought to the font. GLA

The other attraction that may have been mentioned before and that is possibility of a Dividend. After all we only have negative reserves of £10.20m plus the drill and other direct costs plus the overheads for this year or so to make up and that will almost certainly be done with almost any find we get out of Mou1 especially if we sell on the find and with only 562.5m shares in issue this could become very attractive. I see no reason why this cannot have a dividend of 10p + per share ie some where near our SP,

Very good question where does this go from here and one i was pondering this afternoon. My feeling and i would like to get feed back from those who have done the maths more often than me is that a 20 bagger is not out of the question.would be market cap of around £1.4bn which if we have the amount of gas i believe we have then this does not seem out of the question or $1.8bn. Judging by what other gas finds have sold at what we may go beyond. It will depend on the RNS's but good luck all

Are you sure no oil this year. My understanding is that although we can explore for oil during the winter we can exploit. I am assuming that this is because the hole is already there all you need to do unplug it and drop the pipe down. Maybe a bit of an over simplification but otherwise you would be right too cold to do anything. I am sure someone can confirm this.