Member Info for InJamesweTrust

Keith

Don't expect daily figures- also don't expect a call with CEO but perioidc updates are a good discipline as it maintains focus.

This is something that has been severely lacking from what I can see by management here to date.

Keith

For the LevFin transactions, we'd have frequent calls with CFO and CEO on performance metrics. Management should be all over it and if they become a producer, it is fairly standard to provide quarterly updates on flow and sale price.

I'm looking at an equity investment in a Series C/D funding round just now for a premium revenue company and prescribing what future reporting should be so I can measure performance to base case.

So yes, if we are producing the level of production at the end of a reporting period and the cashflow generated are significant and important reporting metrics.

Is there any actual standard around deadlines or monetary reporting you would hold PG/the company to?

It's been far too lacksadaisical for too long and why we burned through bulk fo the £10m raised with nothing to show for it.

Keith

For the LevFin transactions, we'd have frequent calls with CFO and CEO on performance metrics. Management should be all over it and if they become a producer, it is fairly

Footandmouth

I think your jungle drums are slower than the Anglo Saxon beacons used centuries ago.

bold

it is based odd what footandmouth posted yesterday about drilling and hohoho.

hohoholy **** it's the slowest rocket ever.

keith - you can't rns one date then say you don't need to inform the.market the date has changed to 8 months later.

i agree on flow rates about stabilising them both for mou-3 and jacobin but if it isn't producing the income stated it should be advised why.

there has been far too little info sharing and dissemination of it to a jolly few instead of by rns is now how markets and companies are intended to operate.

Well, no RNS this morning so a Xmas drill not likely to be under way. Hopefully GRH isn't too far wide of the mark and activity is imminent.

Feel with the permit extension requirement looming, I'd like to see the rig contract very soon and spud before the call on the 23rd Jan.

Hope people are enjoying some downtime over the festive period.

INtheGo

The rig contract predates spud which predates drill which are material company (possibly company making events). It is also a material expenditure for the company and subject to RNS to investors for that reason.

Androcles - can see your point but for me it comes down more to the substance of the post and if it makes any sense.

Not really fussed about people with multiple identities, it's as silly as referring to yourself in 3rd person, or coining your own alias.

Speaking of such foolishness, I don't know many that have said Griffiths won't drill MOU-5, merely pointing out validly he failed to live up to the RNS promising to do so by May 31st 2024.

Interesting if our resident sage is in the know and it is a Xmas drill in which case an RNS would land tomorrow.

Guess time will tell but no sign of rig contract which would be a material announcement in itself.

Merry Christmas to the Board.

Ibiza

Wouldn't get your hopes up for a 10 bagger or anything in the next 12 months.

If swabbing works then MOU-3 might realise 30-70p a share if sold depending on costs and validity of testing.

For MOU-5 will take much appraisal drilling to prove 5.9TCF - the work in Q1 won't do this on its own (I don't think). A positive drill and flow test might be worth 50-100p though.

Just my estimations.

Interesting posts as always Keith, certainly would not be one of the ones who suggests you're always wrong. Timing is fiendishly difficult to call, there has of course been research and developing ideas but there have also been some inevitable delays.

I'm keen that we don't bump up against the Permit expiry date in executing the drill.

A drill in Q1'25 is a clear target and one we can all be excited by the prospect of. I genuinely hope the company succeeds in its aims.

I was out watching it in a bar in town and what a night.

Ah so it's that YNWA, being from Scottish parentage and a Man Utd fan I try to block out the 6 European Cups!

Good luck in the semis I'd rather see Liverpool win over City's financial doping and good to see them leading in the Prem.

Eurochamps

Is there a reason you're looking forward to London in January? Probably nice to get out of Glesgae for whatever reason if what Andrew Neil says about it recently is anything to go by.

You seem to take issue with my post, do you think licence extensions have been pain free in the past? Or you don't have an issue waiting until after April '25 for activity?

Just looking back at a couple of historical RNS announcements.

The importance of being well advanced for MOU-5 is important by the time of call in 23rd January as the licence runs to 6 April 2015.

With the experience off previous extensions am sure all of the investors and PG would say strongly it should be drilled and tested materially in advance of this date.

Still no announcement on contract for a rig though.

Or the Orange basin is considered a more substantial target.

F&M

He said in July last year his unwanted bid detector was running red and it was doing so for a reason.

That's the longest red light ever encountered.

Juat about as long as an elephants gestation period.

Perhaps it is an elephant field and that's why.

Hopefully we are successful, don't wish other players ill fortune but want to see success where I happen to be invested.

Ninja

Not for me to suggest if you should average down, it's for each investor to make their own choice.

I called it a Sell when SP was 60% above current level so you could have reduced your average then.

For now I'd imagine the SP will bounce around a 5-6p range until the call but absence of an RNS on drilling contract might see a slight drift lower.

Risk vs reward has to be aligned to your own investment horizon and portfolio allocation.

We all want good results here but the difference is willingness to wait interminably versus expecting the BoD to perform their obligations.

FootandMouth

You clearly haven't a clue about commercial imperative and deliverables.

Keith is generally much more sensible and has indicated his own frustrations with deliverables.

This is the problem when a company doesn't have a properly empowered Board of Directors.

Keith

If you are referring to my post the question around how money has been spent and to what effect since the £10m raised is entirely legitimate.

It suggests incompetence not fraud and calls in to question how a bonus could be justified.

By all means state what is defamatory as the questions are legitimate ones around management performance.

The suggestion that if he cannot drill MOU-5 and swab MOU-3 by 30 Jine 2025 is in my mind a generous timeline for him to then consider himself a busted flush.

Read back as I haven't even mentioned the failure to produce the revenue from T&T in a timely fashion.

It is not my actions or those of anyone on here that drives the price down, it is the forward selling of a blatantly obvious placing to anyone with eyes and that was executed by PG and made necessary because money and time have been wasted.

Look at the substantive cause (the BoD) not shooting the messenger who mentioned a placing was imminent and called it a sell in the hours and days before it happened.

If he can't produce results by end H1'25 then he should be removed.