Member Info for Ibiza28

I do not know what Equiom would charge but i am sure it would be a bit more than the fiver that Paul has hanging around in his back pocket.

So have Equiom been brought in to help find a partner or have they been brought on to facilitate and speed up a deal. I really cannot imagine that they would waste their time with a small O&G company like Predator if there was not something in the wind that would make them look good. Often i reckon these companies will just go where the money is and not be too worried. Bottom line is king. Maybe it is just a small retainer and a percentage of the action.

I do not think they are there to provide wall paper and nor do i reckon that Predator can afford them long term.

Something is brewing is my thinking.

Without being clarvoyant i would reckon another RNS on Monday and we are now about to hit a heavy news period. The admin and acquisition are now sorted now for either the build up or the big let down.

Either we get a RNS for AGM with no explanation of why it is late.

Or

We start getting news.

Mou 3 testing

Mou 6 when it is starting assuming it is.

Farm in partner re Mou 5

Possible sell on and exit from Morocco.

The last couple of RNS have been on a Monday and i would not be surprised if the next one is on Monday.

I am thinking a fund with a new listing at the same price the market seems to be working on that basis.

This appointment is positive i believe. Why would an O&G company go to the expense of having someone like Equiom on a retainer if we had come up dry it would be ridiculous. It will be interesting to see what Answer Keith gets because that could be very telling.

If it says " We are addressing this very shortly" then nothing is going on and this has been allowed to slip too long

But A No Reply or a statementto keep us at bay could well mean that things are going on in the background. Anyway just my musings. GLA

Thank you Keith it is a question that needs to be addressed fairly quickly. Must admit it never dawned on me that we might be missing a company secretary. Generally small businesss and Predator is after all still asmall business normally juust has its accountant double as the company secretary. Maybe things are looking up on other fronts ie a listing on another Excahnge or various internal corporate actions. hopefully the beginning of a series of RNS's hopefully positive for once although given PG's recent tenedencies i would not guarantee a good RNS means an increase in the SP.

But that is sept 24 not now surely.

I just had a thought and i will run it by here now to find out how ridiculous it is.

We know that borrowing to test drill is a no no as the cost of funding a risky project with no assets to support or guarantee the loan make the interest rates pernicious.

But what if TT were to borrow the money having proven that the Wax workovers work. There is a lot of STOIiP there which will have some value. This would keep the need for a raise down and if it succeeds we re pay TT back fairly quickly and if we fail then we have the raise.

Could that work after all we are one company (or group of companies) and drilling 950m down is not likely to take long or be prohibitively expensive.

This would save the raise (immediately) and leave us with the full amount per share on a successful test.

f we have all the knowledge that Paul says from the various mishaps and misfortunes on testing Mou 3 and we know there is gas there then we should know results almost instantly. We would need to check flow rates. But then the gauge on Mou 3 should be showing substantial movement (or lack) already so waiting for those results should not be that long as we would have some history already. There is an agreement with AG ready to go

Worst case scenario on successful test i could loan on TT repaid within a month or two max. But i would expect much quicker.

I was hoping for a bit more than a few multiples but probably right if we take on a partner we will probably have to give up a fair bit. The amount we give up i assume will depend on estimate cost of drilling. 950m down with detailed known knowledge of terrain and how we can convince them it is a cert which it is not. So yes success would be circa 10 -15p

My guess is because they are expecting a placement before any news. Personally I am sitting tight for moment.

Gudin i have looked

PRD Char

Shares in Issue 700m approx 1.5bh Approx

Debt Nil 0.4m down from 900m previous year

Market Cap 21.25m 22m

Using loans to try and find Oil or Gas is prohibitively expensive as there is no asset on which to pin the loan. Hence loan rates fro exploration is really not an option. Wisely PG has kept Prd away from it. Yes if you strike all of it belongs to shareholders as the loan just gets the loan back earlier. But if you do not strike then the worst case scenario is company goes out of business best case you end up massively diluted.

Has this take a long time. Yes it has. Mainly i suspect that ONHYM have played both sides against the middle. Allowed others to run ahead which they did.

Quietly Paul continued to build up the case for Predator as it went along. Yes it may have cost more in the short term. The long term is still unknown and at some point in near future we will find out if PG is the next Messiah or just another Paul has been. I know where my money is and it appears you know where your money is.

One last thing this horse is running in three races. We have already won one albeit a small point to point race but from little acorns big oaks can grow. I think TT could surprise us all possibly even Paul. The results of the other two we do not know but suspect we are likely to find out shortly.

I think this was asked but I may have missed the answer so I will repeat the question someone raised and I apologise for not remembering who.

1)Do we need to drill Mou 6 if we get Mou 3 to flow.

2) if PG has found some obe to farm m5 out too. That would come up with money to drill m6.

My demands from T&T are simple

1) T&T covers its own costs, Extraction, operating, Admin and final settlement of its purchase from CEG

2) In time to cover full admin costs of running PRD central overheads.

This is not going happen over night but with the new technique it is very possible. When it does it means what ever is left over testing and drilling else where.

Should prove to be a valuable asset that should under pin this SP going forward.

I agree a really good piece of work that will come much appreciated over time.

10 weeks by my reckoning and 6 weeks to notice. Could be very interesting 6 to 10 weeks.

Yes all of that accepted. The board however will put forward their recommended price and it will get voted upon at an EGM and the minority will just have to go along with majority. I am afraid that is the way of the world. My loan voice even if supported by a chorus from elsewhere has very little say in the matter. PG as probably the largest single shareholder or certainly so with his mates etc will effectively have control and it will be at the price PG think is fair given the current state of the company and where it is at in its testing programme.

So although Predator is not a private company it has always behaved and will continue to behave as a private company.

My view there is a party seriously interested and must be on roughly the same page as PG otherwise why hold up the AGM. If they were mile apart you would just hold the AGM and mention that talks are on going with an interested party..

What i am not quite sure of is who drives the need for an AGM. The LSE or Jersey Companies house. I am not sure how closely Jersey Co House follows English companies Act and even then you get fined if late for filing AGM papers but if informed in advance of potential developments i am pretty sure they would offer an extension to this period. Whether this extension is a one off or can be rolled forward I am not sure but at some point it just has to be called but i do not think we have reached that stage just yet.

I think the next week could be very telling. Now two months after date due of AGM notice.

It is a very quiet day to day. Personally i am expecting a RNS ear;y next week and not just on T&T but also on Morocco and the AGM.

I was lying in bed this morning surmising (to myself) why would you delay an AGM by almost two months if there was not a good reason.

So i thought what was a good reason. And decided that maybe someone had offered us a deal on buying out our share of Morocco altogether. and maybe it was close enough to make PG think twice.

So bearing in mind the potential of what we have across the whole of Morocco and I do use the word POTENTIAL what would be a price that PG would find acceptable . I am not saying what you would offer for the field or what someone should or would offer but just what you would find acceptable as one off complete buy out of Morocco. Working on 700m shares if you were PG and sitting on possibly being the man who found one of the great O&G discoveries of the 21stCentrury what is the price that would make you think twice about going on knowing the risks involved. What do you think is PG's price for out once and for all that would make PG think about delaying the AGM.

I came up with a figure of $2bn as a minimum to make PG think twice.

Yes the potential is far greater than this but at what cost to get to it and how long would it take. Now would someone be prepared to offer this I really do not know as i have no idea how compelling the data room may look or not look.

Just in case you have not worked it out $2bn for 75% of Morocco would be around £2.12 per share given 1.35 to the dollar and 700m shares.

It is the silly season so just a bit of fun. What is the price (assuming it is a price) that would make PG think twice and stay at a mythical bidding table.

If no one coming in at premium on current price why hold up an AGM so long. IMO you only hold up sn AGM for something significant otherwise it is just another event.

Maybe interested in 3d seismic project..

Yes I am sure but there is always around if absolutely necessary I would think. Someone at PRD has spoken to LSE and also Jersey equivalent of company house and told there is a delay. My reckoning they have been given an unofficial exemption and/or final filing date. Very possibly Monday 1 Septemver. Unusual yes I would agree very unusual but this might just be the exception.

AGM EGM I do not really mind but i do take your point about the difference between the two.

I am hoping one of two things is going happen:

We are going to be told what has happened and will be happening and i hope that for once the SP reacts positively and that is only going to happen when something or some even of substance occurs to re rate the SP from 3.5p I would hope to somewhere closer to the £1 mark

.

We are going to told of an offer for the company (Morocco) that PG would recommend. As PG and i would reckon a number of his family own quite a few shares it would be rather pointless him putting it to the company if he would not accept it as he would vote it down.

I am not sure if it will be tomorrow but more likely beginning of September.

Some years ago and may be even now newspapers during the silly season which was now in August used to have an internal competition between journalists as to who could write the most useless headline. The winner one year was "Small earthquake in Peru: Not many dead".

It seems that Prd is now having its own silly season. For some reason the rampers on this share woke up about a week ago and having been putting a concerted effort. They have stirred up their own littlle hornets nest as all the nasty little derampers have started reappearing the shape of green boxes. But this share hitting £41 per share really ought to get themselves committed now. This share is never going to reach £41 because if it does i will buy everyone on here a bottle of Champagne, because that is what 41bn USD would be in sterling, If we were to get anywhere near that someone would be stepping now and buying us out.

In the same way that someone buying up all our shares now 4.1p per shares is ridiculous this share reaching £41 per share is.

However something is brewing and i happen to think it will be fairly shortly. The reason (IMO) and has someone on here got reprimanded for not stating that everything was their own opinion I will state that all of this is IMO.

The catalyst for my believing this is going to be fairly shortly is because we are well past due our AGM. My thinking is that impending events is going the need or requirement for an AGM certainly as regards Morocco anyway.

If nothing is happening why the delay in news regarding Mou 5 ( the duster that was not a duster), Mou 3 gas flowing, Italfluids still being on site. Anyone would think you get involved in another test that did not flow you take your equipment and pack up and go and try and pretend you had nothing to do with it. By all accounts the equipment is still there and therefore i would assume the staff and still there. i doubt they would leave that valuable equipment lying around for anyone to pore over.

The problem here is no one has a clue and we all hope. Us with shares hope to make a bundle maybe not £41 a share and those without any shares are hoping to tell us "We told you so just you did not listen". Or the "PG is a crooked idiot and you all fell for it",

Personally i am not a blame game or I told you so game. I am a big boy and i make my own decisions.

I would just like to see this make a concerted move upwards but that is not going happen because i think the news is being surpressed.

Mou 5 is a perfect example of that and the swabbing non swabbing of Mou 3. Mou 5 aimed at uncovering 5.9TCF comes up with 20McM and a bit of He. and a whole load of salt that masked what we thought was there. Except it might still be there but below the salt. The cost of a 3d seismic is pretty prohibitive so we look for farm in partner.

For me the clue is in what has not been said said or as Sherlock Holmes said It is what the dog did not do in the nigh