Member Info for InJamesweTrust

Hi Gruv

Interesting link and good to see progress. Might try to get a copy of the presentation.

Seeing the timing of 3b/4b and the aim for the second well to be an appraisal well shows the degree of confidence in the prospect with all the information available.

Getting traction for Guyana will be a big lift as between the two one had to suspect there will be some material value for shareholders.

Thanks for posting

Keith

I'dexpect a tweet and an RNS, again disappointing if the date is missed after already being moved. However, With so much prep done it surely can't be materially delayed. Unless Star Valley throw toys out and don't send the rig which is highly unlikely, it's about as likely as PG answering the difficult questions previously posed!!

In all seriousness I don't expect much of a delay if any and still 4 days until 3rd.

Bold

Your turn to share first, you show me yours and will show you mine!!

Bold

Didn't note a response to the 10-20p rationale??

Hampshirlass

There used to be a chap called AdUK or AdoubleUK on the Hurricane board. He stopped posting abruptly around 3.5 yrs ago and his posts can still be seen.

Sorry for your loss I'm sure it must be hard and hope that time helps to heal.

Bold

It's a top of head calc not exact science but here is some substance:

T&T options are based on 750bopd I think so $35 a barrel is c. $9m p.a.

CNG @ 2mmcf/d is $16-24k daily based on $8-12 per mcf which has say a 60% margin. That's $3.4-5.1m p.a.

So that gives you probably $12-15m p.a. bottom line if the production bears fruit. Only takes a 5x rating to get to $75m+ or c.10p and figures aren't overly ambitious if wax treatment is a success and what Tingas says is true.

Bold

It's a top of head calc not exact science but here is some substance:

T&T options are based on 750bopd I think so $35 a barrel is c. $9m p.a.

CNG @ 2mmcf/d is $16-24k daily based on $8-12 per mcf which has say a 60% margin. That's $3.4-5.1m p.a.

So that gives you probably $12-15m p.a. bottom line if the production bears fruit. Only takes a 5x rating to get to 70p and figures aren't overly ambitious if wax treatment is a success and what Tingas says is true.

There are probably lots of views on both sides. PG is adamant that there has been success in earlier drills and the info derived is useful despite mud challenges.

The consultant (Dr Tingas) suggests MOU-3 will flow but to what extent we don't know but enough for probably a couple of million scuffs a day plus some income from T&T if the wax treatment works.

The lower scale CNG (which may be upgraded) and T&T are prob worth 15-20p a share towards year end so scared stories of 1p if MOU-5 fails are wide of the mark in my view but PG needs a good story to tell if it doesn't go to plan.

Drill should start turning within the week and perhaps 2-3 weeks subsequent should begin to have an idea of what MOU-5 has to offer.

So why give a flying fig about so called trolls then Pareto

Just an addendum

The SP is where it is because of repeated dilutive discounted placings from a CEO who has failed in executing deliverables. Not because of anything said on here. It's fantasy to presume otherwise as if it was based on the BB narrative - Grahams rockets would have everyone in the world buying and running us up into the £'s already.

Treasures

Blind faith serves nobody well and you're confusing the words negative with reality.

Happy to be out right though if you want to post anything I've said which is inaccurate.

Fwiw at this level I will purchase more this week as it increases upside without really impacting the downside greatly.

Well Euros

I did publicly suggest selling at 9.5p and within a few days you could buy for 5.5p and say it was a placing that was churning but go ahead and hold blindly.

Ibiza

I wouldn't for a minute think PG is considering the shareholders and keeping them informed.

In his own words "It's my company ans I'll not apologise to anyone" so into that it is simple to read he will do as he pleases until removed.

In this situation, he does though need to have care as announcing a gas find without it being calibrated would likely contravene market regs.

They have said 12 days for results if memory serves so around 3 weeks to wait what with the drill being delayed (you could have knocked me down with a feather.....not)!

None of us get it right all the time.

The board would be a better place if GRH, Seabright, Caterham posted regularly. Their views are not bullet proof but add useful information to the debate for consideration.

GRH himself isn't averse to slinging the odd childish insult ao ought not be driven from the board because of that but personal attacks have no place in the discourse.

Just interesting timing F&M.

My bigger concern is the dilution

PG who is paid above the rate of a CEO for a business this size has recently if memory serves awarded

PG has been 'awarded' 30m shares while overseeing repeated raises where the targets have failed to be met. Those raises equate to 180m shares so that is one third of the company.

It ia very difficult to see how a sane remuneration committee could realistically make these awards if considering performance metrics.

Also makes the Chairmans part of this highly questionable in my view.

Guessing F&M is trying to do a DonalB and see if there is ongoing activity.

Would hate to think it was to seek drilling info ahead of the market announcement though.

Tmhsdx6

He has presided over the collapse on the share price in the last 2 years. A good deal of it a reault if his inefficient management

These targets should all have been delivered by now under his own timelines previously published so any award is insulting and to do at just above multi year lows is a joke in terms of the option price.

Breathtaking arrogance after the failure and delays to award himself 3% of the company.

There is quite simply no reasonable justification for the award of these shares.

T&T should have been producing income a year ago, MOU-3 should have been tested and MOU-5 was meant to be drilled last May.

But he doesn't treat it as a lifestyle company.

I'd love to know the justification from the remuneration committee.

Wallact

Perhaps reduced by 5 years not too 5 years, I'd think?

They're fighting hard to increase their share of the oil so must be happy.

Think payback is

HighlandMatt

Don't mistake revenue with profitability. Of course maybe the wax treatment makes these assets more efficient but currently costs are higher then revenues. That has to be reversed for T&T.

There is another small cap oil and gas that is producing great cashflow but is constantly drilling so hasn't related. It has a few million in reserves too.