Member Info for InJamesweTrust

He (Rik Rule) is doing a symposium next week near where I'm staying currently. Not sure I'll get time to swing by and ask though.

Rob

Hope there is some good news on progress before you take the decision to sell-up/exit.

Haven't seen when PG is supposedly doing the interview in July but have not seen it on socials.

He should do a clear Q&A and do it in person not take the cowards approach of selecting softball questions he has an answer too.

The number of times he has missed self imposed targets he now needs to face the music via questions.

Good to see from Rhino, connectivity can be so important in step.out drilling and establishing the size of the field. Hopefully we can be undertaking similar activity ourselves in H1'27

Joblot

I have in mind some that could, there is no will as nothing is definitive.

The challenges with water cut and declining rates in T&T can be seen clearly at Arrow (AXL) where they are running to stand still despite 2 years of successful drilling.

Consequently, it really needs MOU6 to be a success and I guess the question is can it show (or is it expected to show) communication with other drills? Depends what testing may be done I suppose.

Dickie

He said less than 6 months to a deal last October.

He said 3 years ago a CNG deal was imminent

Now you are hoping for a deal by year end.

Sometimes one has to cut losses and consider other options, there are good ones out there that could recover people's holding from this to the 20p level (i.e. 6/7 bag) in 12 months.

If they can drill without a raise great if it can show and flow gas. If it can't then a raise is probably another 2-300m shares to raise £4m and you wonder if PG still pays himsmelf a bonus.

There should be a time limit beyond which investors stop giving him the benefit of the doubt.

He should have MOU6 drilled by end Sept with no raise based on his previous pronouncements - personally dont think he will achieve both of these objectives.

I've been vocal about selling down holding due to lack of trust in PG- hope it can still come good for those more heavily exposed.

Think there are large IOCs/super majors interested in Falklands but dont think Navitas are spreading themselves too thin. They have just taken on significant number of staff across their offices.

Should be an interesting 3 months this quarter and activitiy not just news ramping up in the following quarters.

Anyone taking pleasure in another person's possible loss or challenges faces is beyond the pale.

Dont wish losses on anyone here and hope for those who may be deeply invested there is some gas (i think there is) that can prove enough commeciality to get back into the teens at least and get most people above their average.

I'll likely buy again towards early August and see what comes.

Still hold a chunk.

Didnt say a penny, I said sub 2p. Might depend how much of a fee PG bungs them to underwrite it. If raising without news hard to see how it wouldn't be discounted by 30-50% from current levels.

On the plus side if he can raise and drill there is a reasonable chance of proving up enough value to put most SH's back in the black or provide some return.

Didnt say a penny, I said sub 2p. Might depend how much of a fee PG bungs them to underwrite it. If raising without news hard to see how it wouldn't be discounted by 30-50% from current levels.

Rob

You may call it FUD but have called and sold multiple times. Most recently in response to RNS. While I can now buy back 15%+ cheaper I think there will be an opportunity nearer to 2.5p without a raise and sub 2p if a raise is needed.

Reckon it is about 50:50 for whether PRD raises before drilling.

The next leg just needs drilling timelines not FIDs.

A positive FID would be a whole lot different.

Still buying for me and will be for a while yet.

Reckon news on Namiba or Guyana by Aug and hopefully both by end Q3.

threads are repeated all the time as every drop in sp and *******s rns is posited by many as being all part of pgs grand plan and the great delineation that will see gurcif be the envy of all and change euro/moroccan politics permanently.

not sure if this is before or after pg has taken on the speculators and spivs in london who are responsible for the share price.

Mirasol

Think you'll find if you look at Rockhopper, Navitas as partner have advanced funds as I understand it to assist with development costs. Additionally, depending on the terms in event of discovery a carry to production and then recoup costs through revenues is often written in.

I wouldn't be scare mongering about a raise and to be fair, if Eco has a multi hundred million barrel discivery in Falklands it would be raising from a position of an SP at multiples of today.

As I have also mentioned, when drilled there is a reasonable likelihood 3B/4B is sold (if a discovery) and gives Eco.all the capital they need. Equally, if FID is taken and we are carried in Guyana then we can also seek an RBL facility.

Many options.

he paid himself a bonus the year he booked sandjet equipment that sat idle because he hadnt registered or completed something administrative and wasted time and money just after the £10m raise. it has been a slippery slope for sp since and bonuses and options keep coming.

the rem co is doing a **** poor job in my view. if pg was so confident in the prospects i dont think he would be taking the cash comp he has over the years.

started out here by saying it wasnt kne to chuck your whole capital stack at and hope nonody/few have done so. also hope there is success and sooner than later but do not see it being at the level of projections jasper is forecasting.

execution risk would see higher discounts applied.

Thanks Eric

Never any guarantees and often in O&G things take longer than we hope. However, Guyana keen to see fields outside Stabroek succeed too and BP keen to book more reserves. So hopefully both bode well for Eco.

In O&G timelines often get extended but in return for the Orinduik licence I would expect the government to set the timetable and require activity sooner not later.

Orinduik - Jethro appraisal 160-200m net to Rco

Cretaceous exploration 150m net to Eco - proves play for additional 600m contingent barrels.

Namibia - get a sense of the size of other fields. Potentially drill Osprey at 200m barrels net to Eco.

PL001 - IOC interested in Johnson gas field and we see there are 15 targets with 450m barrels net to Eco. Some stacked targets where multiple drills can happen economically and subsea engineering to connect is more efficient too.

3B/4B - initial drill contingent on SA approvals but should happen. 42m barrels if a discovery and 200m barrels contingent.

So Eco could easily be sitting on 700m+ barrels of discovered oil in a year and be 2 years from production for some of it.

With 3B/4B able to be wrapped into a sale easily and Total likely keen to control the field there should be ample capital too if developing some discoveries.

The Osprey prospect is interesting, as note PEL97 is seismic reprocessing rather than seismic acquisition.

Depending on quality of info available, does this open up a drilling prospect shorter term in Namibia?

By shorter term I'm thinking 2027 weather window.

While £4 a share would leave me very tidily in profit with the resources of Jethro and Johnson which are referred to as discoveries already and the wider prospect pool of the licence, it is very much at the lower end of my target range of returns.

Yesterday Eco suggested initial leads on PL001 gave them 450m barrels of potential plus their share of the Johnson discovery.

Orinduik gives Eco the Jethro play 200m net and the prospects of wider field (another 800m-1bn barrels [negotiations permitting])

3B/4B gives them up to 240m barrels.

Thats before Block 1 or Namibia and the prospects in Namibia are big enough to generate the interest of BP.

I believe Jethro and Johnson alone are worth more than £4 as we move down the road of proving up (sometimes successfully sometimes not).