Member Info for Ibiza28

Oh great get is sorted out in next month or so and give a xmas dividend.

Do not think i will be holding my breath and just watch the pigs fly by.

Through all of this is the fact no mention as to why the AGM was 5 months late. My opinion is there is news to come in very near future. He hoped it would come before AGM but not ready yet. Needs a bit more time. Any way that is my thinking.

My take

Ireland - Lawyers already been consulted and they suggested end of month date. Papers will be processed on the Monday morning assuming no response. Could take a year before any confirmed result.

Morocco - Divestment in process and Talks on going. If offer is at 15-30p as suggested ie $150m-$300m and was acceptable i reckon this will get done very quickly as i reckon it is a steal. $1bn ie £1 a share give or take is possible but delaying Mou 6 i see as a gamble. Paul must be very confident to leave an Ace in his hand and not play till the very end.

The dichotomy is the market wants gas to flow preferably at commercial before it realises it in the Share Price. Paul is wanting to keep this back for negotiation purposes. Basically as shareholders we have an option bail out now no trust in Paul to deliver and take our loss or trust in Paul and stay in and hopefully reap the whirlwind because that is what it will be.

The big question (I would say $64k question) is when except in this case it should be damn sight more than $64k is WHEN. 2026 is looking strong but i suppose when we start testing Mou 6.

It was a very confident performance by Paul the most confident i have heard him for a while. The markets will play this like made in between.

Basically in or out its your money your call.

I would reckon that a price tag of around 2$BN for the whole of Morocco would be about right.

The problem is we have not actually found any thing. We seem to have located it but because we have found nothing, yet, this share price is going no where. PG complains about no recognition of potential but if he put some jam on the table the markets might start to believe it.

But from what i can see is that all we are getting is Jam tomorrow. He is like a chef with a number of dishes on the go at the same time desperately trying to get them to land at the same time. If he gets this right,ala Michel Roux, then we get the £1 - £2 a share. You get it wrong ala my attempts at cooking then it will be a disaster.

Lastly regarding Ireland. My reading of this is that he has already contacted a "No Win, No Fee" lawyer and they have agreed this strategy end of month final deadline. I think this has been cleverly chosen. in that end of October is a Friday. It gives anyone involved a weekend to come up with a decent reply and we start to take action on Monday if no one replies.

Personally i am certain we have the gas we are just having a bit of trouble in either locating where it is or getting what we have found to flow.

Now either the seismic and the geology here is confusing but there are enough people on here who know their oats (so to speak) who i have learnt to respect for their straight forward delivery.

The problem we have is that every time PG opens his mouth or writes a word the share price goes down. A bit worrying.

There does appear to be a deliberate switch of attention to Trinidad. And this is where most of the company's time is likely to be in the future. But it still leaves a lot of un answered questions re Morocco. I think this is deliberate the move to focusing or trying to get our attention to focus on TT rather than Morocco.

Any plans for a sale i would reckon have been moved to next year now probably once we know result of Mou 6. I am disappointed that Mou 6 is only scheduled for second quarter of next year. I really would have thought a circa 900m well with known sands and geology would easily be drillable in a few in a few days could be done whilst Ital fluids and Schlumberger were all on site.

The shares are staying in the bottom shelf for a bit longer than i hoped they might. But i reckon there is news still to come.on Morocco and talks have either stalled or still on going and taking longer than anticipated.

You don't change man at top st this point unless you have someone better to takeover.

So let me ask who do think wants the job and the credentials to do it.

Agreed

The other thing that still intrigues me is why the AGM was delayed by 4/5 months. All our previous AGMs from what i can gather have been around the middle of May yet for some reason this one has been pushed back almost as far as it can go. So far no reason or explanation on that.

There has been a lot of speculation on here regarding this delay and PG cannot be unware of that. Maybe there was something afoot earlier that he thought might happen in time for a delayed RNS but obviously did not come through. Maybe that is now coming through. But then this presentation is only two days after the AGM.

But the AGM will only be Admin based stuff to tick all relevant boxes that is why in Jersey.

The presentation is the real thing but can only give anything new if we have an RNS stating it.

Watch this space this will probably climb gradually till 4.5p before presentation and will then go up significantly or does what normally happens after PG talks and that is fall back significantly till everyone digests fully what PG has said.

Everyone wants jam today. That i have learned is not likely to happen but it could be a very special if you are prepared to wait out. However time must have a finite date on it but for everyone that moment is different.

I agree i think is almost certainly going to be a RNS otherwise there will be nothing new.

If there is no RNS there will be nothing new therefore it will PG regurgitating the same old hot air.

The RNS i think will come on the Wednesday or Thursday and i agree could well precipitate something very positive re Morocco.

I am hoping for a re - rate in this share price before Xmas mind you with currently 3p share really is not setting that bar too high..

The first RNS said they were fully funded for all planned operations. Unless a new un planned operation has come up in the last two days then this should not be the case. It would be bit much after that statement four days earlier to be retracted so quickly.

What would this do to our share price.

I must admit I do wonder about the intelligence of some of these trolls. They come on here like latter day evangelists, saving our souls from all kinds of self destruction but obviously English is not their main subject.

Top of RNS it says clearly fully funded for all planned operations this year. So what operations are we planning that we are not fully funded. So i do not think that a raise is imminent.

No where did i read about water in the reservoirs. I would suggest they read the definition of reservoir especially the bit about storage of carbons.

So i was quietly optimistic about the Gas. I think the 83 TCF as mentioned is rather over the top and may be even the 19tcf as mentioned. But to say the reservoirs are full of water is unlikely because that PG can tell the difference between Water and Gas. I reckon that even i could.

There is however one thing that has not been raised and i think might be of concern and that is why this AGM is 4 months later than normal. I see nothing in this RNS (Post Balance Sheet Event wise) to say that it was of an abnormal situation. To me unless there is something exception happening you do not delay an AGM even if you are allowed to hold one with 18 months. It is a break with the norm and that is interesting IMO. Also that it is going to be held in Jersey. Wonder how many from here are intending to attend.

I will now wait till next year and take another look at my position

Goodness Saturday morning and this is full of Green boxes. Someone is in a very big shott position.

I do not think the Oil is just idol chit chat. As far we know there was oil found in this area about 100 years ago. One thing is for sure and that is extraction technology plus seismology would have improved over last 100 years. So i would reckon that size is easier to quantify. and easier to extract. Therefore likely

Spell check ruins everything 😒

I was thinking that is the pump fir the rinse as well. But now a bit obvious. Something needs to be leaked as well. Mind you I think Mou 6 is make or break here. Despite that caution I remain positive

No he just crashed motorbikes

Yes I have seen it implies we have found 5.9tcf rather than hoping to find and as you say a month. Not quite sure what to belief. I belief we are getting complete full story for reasons best known to PG and ONHYM but I think something has got lost in translation on this. But one thing I an sure is something is brewing.

We have got the acquisition out of the way and they always take up more time than you think and now bringing on Equiom who deal with "high networth individuals or companies. We are neither but then maybe we will be.

Tomorrow is the 15 September and if i am right we have to hold an AGM by the 15th November (the last one being 15th May 2024) as that would be the end of the 18 month period. That is 2 months or 61 days away. The notice period for public listed companies in Jersey is 21 days clear notice so that would bring it back to last week in October. About 5 weeks away from now. However that is as i understand it the longest date. There is no reason why the news would not much shorter a period than that..

Paul is generally very frugal with money sometimes a bit too careful so hiring a firm like Equiom who as i mentioned are unlikely to be cheap would be (IMO) for a very specific job and for as short a period of time as possible. I would not be at all surprised if we had some very tangible news before the end of September. GLA