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Silverfoil
Completely agree with you this could be a double whammy for us PRD holders who live in uk. Not only do we a share that well could do anything but we might also start to see our gas bills come down in time to a level that is more akin to what we are used to.
WOS you might be able to answer a question for me regarding all these other activities we have going on
1) Why cannot we be told about PM Energy and the IoM meeting It has nothing to do with PM itself otherwise it would be just another field of work in our main portfolio.
2) Sun steepe another JV that is completely unrealated to PM's main field of activity ie Oil producer and explorer.
As i see it none of these are dependant on us getting the LP and even so the LP is now guaranteed the government have implied as much so wny cannot we be told of these other stories. Surely they should all add to balance sheet.
I think i know your answer but would be interested to hear your views. Why hold back on news.
I posted on here almost as a bit of joke that PG would give us an RNS after we have started testing but on reflection i am beginning to think that this is far more likely. PG likes loyalty to investors ie those who are on here for the long haul. Every time you get a piece of news it starts to get played by the market and although traders want that the investors like to stability in the price and a steady movement (preferably upwards). The traders want and are trying to sow discord and uncertainty. And the reason they are out on this share so hard is that PG is trying to avoid the plays up and down.
The investor looks at the market cap now against what the potential market cap will be.rather than just the share price. The market cap and what the company does is almost an irrelevance to the trader. obviously the more volatile the stock the better.
The investor studies the company the company product the quality of the management their record plus the market as a whole. The trader studies movement patterns and volatility and makes his decisions around that. What the product is and CoS is almost irrelevant.
Now IMO there is one way of almost getting rid of the trader completely from a share but would almost destroy wildcat drilling unless CoS's are high. That would be to start charging Stamp Duty on purchasing shares [plus of course charging per trade. Put one or both of these in place most traders woulld be out of here in a flash as there would little chance on making money on the swings.
So to try and create an element of certainty i think PG will announce testing has begun rather than tell us that testing will take place. He would hope through this to create an element of certainty and try and remove a wad of speculation with someone driving market up only for their to be a massive profit take and price to plunge again. Again why buyer is in place. The question is how long between testing happening and full results are tested. As far i understand it with oil have to send on to lab for examination and this takes time but with Gas i am wondering if this is different. So maybe full results and agreed contract
If there is going to be a sell off of Block XX and mayber Heron to PC i think we will find out sooner or later. After all we have been expecting this LP imminently for the last 6 months and known it was coming since about this time last year. So unless MB has been sitting around on his backside doing diddly squat i would suggest he might have been in talks with PC over the course of this period. And of course having a deal with DQE in his back pocket just in case. So as WOS would say RNS on take over / sell off IMMINENTLY!!!! GLA
WOS as always your logic is extremely logical but i would only say that there is a long way between logic and anything that seems to happen in Mongolia.
The question i have is would we be made an offer before we start to explore Heron or would we wait till we get the chance to explore that block. Would just sell block XX and keep rest and carry on or sell rights to Heron unexplored.
Once we get this LP it will be a very interesting period. The problem is how long is it going to take to get this LP. Hopefully this posting on FB is an indicator.
It occurred to me to day that so far on this PG has done very little by the book so rather than give a RNS that tells us when the equipment will arrive and testing will begin he might just give us an RNS telling us testing has begun.
I am beginning to wonder do they have electronic banking in Mongolia. How long does it take send a few bob down the line to Eastern Province or is on its way by Yak Express. When if finally arrives do we have another eternity to wait till the final signature is put to paper.
I am not even certain about this RNS regarding the shareholding. Whilst being true as of this moment i have no doubt but it does not include 4* 1.25m option rights at 12.5p which will almost certainly get taken up when we start testing and this share will almost open at that point 25% higher than now and move rapidly north from there.
This is our year 2024 I am sure of it. What the price will be i have absolutely no idea but in that pricing whenever we get news of the testing results hopefully toward back of February we need to factor in what ever CM might be plus not forgetting that anything could happen with Ireland. I know what i am hoping for but what i get may be something completely different. Happy new year to you all and i have a feeling it could be a very good one.
Oh i do like a good laugh especially at this time of year. Here we are Xmas is now on top of us and we are still waiting on the final signature on our Land Permit. Pushing it a bit to be by the end of the year. Now already we talking about being taken over by Petro China more like Petro - Moonex would be more likely.
I am more concerned about what happens if this current government loses the next general election it will not go unnoticed by the electorate that this government has presided over a massive fuel shortage when they are sitting on top of a massive oil fields and done remarkably little to push this forward. If they get kicked out they will have deserved it. So my view forget the idea of a takeover and more likely (in time) that PM becomes a major oil producer in Mongolia.
Personally set yourself a figure and get out around that figure before the General election starts. Governments presiding over fuel shortages and outages tend not to do too well. Happy Xmas everyone
Just thought i would take time out to wish everyone a happy xmas and let us hope that it will also roll in a very prosperous New year.
I am hoping that the delay in the RNS would be because PG cannot get the supply test equipment with a guaranteed date and hope that this gets resolved between now and January 2nd. I would hope that testing will start no later than middle end of January with results through by middle end of February and hopefully even some news on a sales agreement by end of February. But quite frankly i think i would find it all better if it slipped a few weeks. But sometime first quarter would be great.
I also have hopes for another share but that will not be any where near as big a deal as i am hoping this will be.
Have a great xmas and new year and finally GLA
Speaking personally i would just like to get out at a fair and reasonable price sooner rather than later. I do want to try and milk this for everything that it may have and the higher the amount the more i am likely to leave a few shares to see what else happens. I will settle for around the £100 a share mark.. Just kidding.
I struggle to understand why you would cut back on the testing unless you think there is not enough money for the testing. The selling price will depend on the testing otherwise we would have announced the sale already and we would all have a good xmas.
You cut back on testing if you think you are not going to be match the expected results. But even then it is down marginal returns v marginal costs,. Would the cost of testing an extra meter be exceeded by the return for testing that extra meter.
I agree the basic agreement is in place but the whole price will be decided on the testing. So i reckon the more we test the greater the price. IMO
It does say 2024 but this is a technical report and written back in October. I would expect something a lot sooner than December 24 for a new buy out of another business than 15 months later. I think just demonstrates i think how stretched PG and Lonny are at the moment that they cannot properly proof read their own RNS. maybe the meant 24th December but then that is a Sunday so not really on. So who knows Dec 2023 or Dec 2024. Take your pick my money is on an error and now being held back because he wants an definitive testing date to add into the RNS.