Member Info for InJamesweTrust

Pareto

Calling people thick is hardly an adult level of communication. Perhaps as I've suggested to HBob have a look at performance versus promises and honestly ask yourself if PG has done a good job.

It isn't just PG, the Chairman and remuneration committee have questions to answer as far as I'm concerned.

Tell you what Bob, put your thinking cap on and name one materially positive thing the company has done on time and to budget in the last 2.5 years. For a quick clue go to the preso he did last March and see what was proposed then and where it is now.

Or say how much gas has been declared commercial and extractable to date.

Bob

What game.

He hasnt proven anything in years. Has failed to flow test repeatedly despite raising money to do so. Hasn't swabbed.

Even GRH that has decent City experience and wondered about such games aloud has sold a chunk due to concerns.

This is not very likely a conspiracy by super majors more the last rites for a reluctant to leave CEO.

Actually Bob he is fully entitled to do this if PG is reneging on making repayments which are due. Even without that he is entitled to anyway but it certainly gives him reasonable cause.

Think GRH might be able to get back in at 1.5p soon if the CEO continues.

I've posted many times he is a belligerent fool and still sees this as his company with little regard to duty to shareholders.

NickNorth

Perhaps because Sound have an a dual cornerstone shreholder taking them to production rather than a CEO who doesn't know the difference between cornerstone and bucketshop it seems.

Pareto

I'm guessing that is quite an aged response and not reflective of PGs repeated failures and the geology not playing ball.

Keith

It's a desk top study and he will.pribably do it.himself and pay himself a consultancy fee for the trouble. See .y previous comment about having no shame.

Farm out will be onerous as PRD can't fund it and usually when he says funded for near term activities a raise is on the cards.

I'm sure he wants to fluff the SP a bit beforehand but I'd envisage a raise in Q2/Q3 - maybe he will call the new prospect Titanosaurus cubed

for anyone who cares to look at the mgmt preso last march or any before that.

first oil t&t was forecast h1 2024 with gross revenues of $1.6bn to come.

first gas sales were targeted for now.

to have the gall to say he is focused on cash generation to fund activity after stuffing the market with 200m+ shares with no regard about selling to bucket shops and cratering the sp by 85% as a result seems the only benefit of cash generation is he still gets a salary. very generous too given the market cap and value destruction he has overseen.

note grh still hasn't come clean about how far down he has sold here but let's be clear his multi £ targets and cove++ returns will not happen for prd.

they cannot generate the cash for mou-5 organically so need to farm out and as such will get the **** end of the stick in a deal as the weak party.

all that money and still no successful testing or even the timeline for mou-3 seemingly just a medium term discretionary commitment.

odds on an apology or a mea culpa from the belligerent old fart, no not likely as he has no shame.

have sold down most of my free ride having shouted sell to all at 9p but grh was the messiah for you here.

don't wish anyone ill and hope they can get mou-3 to work but please look over the past targets and intentions before putting too much trust in pg to keep leading the ship. he has been an abject failure and i'd struggle to point to material success in the time i've been a shareholder despite burning through >$10m

Pareto

If you're going to publicly slate people and pronounce with no caveats this will achieve Cove type returns. While also trumpeting about holding 2% i think he should be upfront about what he still holds.

Alas many trusted him but geology can give anyone a bloody nose.

The CEO conduct is shameful this last week

With any luck the seismic interpretation can be reprocessed with better understanding now the salt layer is know and 3D can better capture reservoir/potential traps.

If there is a targeted area then hopefully acquisition of this can be quick but even in these terms I doubt it will be drilled again this year.

Alas I know there is speculation about oil but it seems they cut the drill short and there may be signs from cuttings oil has migrated through but don't think it's a gusher. I'm fairly sure people have previously suggested oil would be lower, however it is working off 2D which is imperfect (as is 3D but less so) and so it may be oil is there.

I think if it was they'd have tested the bopd flow rate unless perhaps kit wasn't on site for this.

All in all, looks like it is back to the drawing board for several months to retrench and consider options.

PG should avoid a raise if he can get T&T producing, alas it should have been producing almost a year ago so there is a chunk of income missed already and no clear timeline.

I don't understand the absence of narrative around MOU-3 which was to be worked on when MOU-5 was being done.

I know many disagree but there are just too many missed targets, poor comma from PG and don't think he has performed well at all. What odds ge will still take a bonus and pay himself a consulting fee for the desk top study on MOU-5.

Practices which in any organisation with a degree of governance would not stand.

Worked well last week Obadhia!

I don't expect it will get there but 6p is fine by me as I'll keep buying as funds permit. The lower the better while Im doing so as it gives me more return come the turn of the drill(s)

PGs favourite word - potential

Releasing funds for producing assets what about bloody MOU3 and getting it to flow and starting the CNG with AG.

The guy is deluded

Alan2000

Good luck to you - I called this a sell at 9p and traded out to hold a reduced amount on a free carry. Stated it here at the time.

Hope it turns around but far too many have been blinkered to the issues and just seen possible pound signs from those that have pushed their agenda.

Fwiw I'd imagine he has covered his position and is now GRH 0.5%

Perhaps clarity would give you all confidence.

This is nothing to do with MMs it is a share the CEO had diluted repeatedly to pay for work that isn't carried out and fund missed deadlines and an egregious salary and consulting fees.

I hope he can get the geology right and in time limit the losses for people. The RNS is ambiguous hopefully positively so rather than the misleading RNS around Sandjet ops having commenced.

Fwiw I'd imagine he has covered his position and is now GRH

Fwiw I'd imagine he has covered his position and is now GRH

What is nasty about it F&M pray tell?

Interesting that he has sold with little in terms of a mea culpa for people who have held or for his support of PG and his tubthumping arrogance.

I hope the resistivity and petrophysical analysis prove up a positive results here for those heavily invested. It is no fun to watch a stocks value dwindle.

FootandMouth

He has raised £14m in the last 18 months and managed to do Sandjetting and 1 drill in that time. How long does it take to line ducks up, he should maybe ask the nice people at the Peabody hotel they can manage it alot faster than Paul G.