Member Info for InJamesweTrust

Cubist

It's hard to tell as it's geology, my biggest concern is still the absence of the word commercial from the company. However, I think NuTech analysis was likely shared with some of the placement investors. I worry the sands end up like other Moroccan drills but following placement and the seeming confidence in the CNG route will be buying more likely this week, as on balance I think the prospects are good.

PV72

Absolutely my bad in that case as hadn't seen those posts from him (don't get time to trawl through 100+ per day!!).

He absolutely doesn't owe anything and indeed has proffered much info.

Good luck to him and all on here.

For me, I hope my posts are not insulting to anyone. Think these boards should be a broad church and if someone annoys then simply filter.

Life is definitely too short.

Hbob

Apart.from the unfounded allegations,.I've read little that should unsettle a veteran of the City as GRH is. Some of the chat/conduct there during the 80s/90s/00s far outstrips anything here, I don't impugn his reputation by saying he was part of it but he will have seen much worse than exists on here I'd have thought.

GRH

Lots here sad to see you depart, you have obviously contributed much.

Couple if weeks ago I did ask if your private actions matched your public pronouncements, you then went very quiet in the run up to the placement following most recent results and now 'retirement' following the placement.

While you don't owe anyone the info, its would be instructive to know if you sold before the placing, rebought to a bigger position or have now sold out.

It's easy to say your opinion remains the same but your holding and actions might be entirely different. Having provided alot of people with comfort on their investment intentionally or otherwise, on departure it might be polite to provide an update on your own actions doesn't need to be detailed.

Dissipline

The problem for me is we don't know they are proceeding at pace as there is little further info. However, they have attracted insti capital for some of the raise which should prove stickier but note there hasn't been any soothing words from management as there was in the RNS which discussed results of MOU-4 in much more detail when the first RNS had an underwhelming response.

They are potentially tied up with CPR etc but that alone could take weeks from now so there may be a bit of a wait. Depends how developed it was by MOU4 and how much there is to analyse from there.

Info and a timeline would be most helpful though as can't help but feel there is asymmetrical info between participants in the book build and PIs

For CNG then certain aspects need to be in place but from what other board posters have said the CapEx is lighter on the business than LNG by a significant margin.

If there is a single offtaker, depending on credit quality of the other party this could be done in a Project Finance type deal structure.

In addition to the offtaker there may be some parties who would pay upfront for the underlying profitability of such a CNG set up on am NPV basis.

In some cases you need to.show you can go it alone the flush interested parties out. Much of the info is still opaque though and it is the more frustrating as a result.

The timeline of events hasn't been quite what many would hope but it was clear a raise was coming. However, the BoD had intimated that a CPR was due, interested parties lined up etc. They may have been thrown a curve ball by request for Flow from CNG party - is this a follow on from NuTech analysis.....

The board had to raise quickly after MOU-3 to fund rigless testing and now this raise is for that also. Parsimony is good in terms of G&A but not when they can't get a handle on burn rate (even if it is more developments burning cash quicker than actual inability).

Having a presentation that states where they are, what they have and what the costed next steps are to prove up and exit would assuage concerns about cash management.

Having to constantly raise to cover costs already incurred takes control of timing away from the business and in to hands of creditors who can push.

Need to stay ahead of the train

Edark

It isn't about being in the cool boys club, it is the.timing versus the information hurdle needed to make an offer to PIs. IIs and some advisrd HNWIs are considered sophisticated investors who know the risk and thus accept an element of caveat emptor whereas.PIs have more protections and so an offer to the PI base would be subject to more reg scrutiny and take longer - time they don't want to wait for or possibly have.

Imagine the book build is done, I work at a different part of the credit spectrum but market appetite is strong and liquidity seems good (can be asset class selective though).

While the board look a little bit silly, ultimately these gyrations aren't what matter it is what may or may not lie beneath and the rewards if it does.

This uncertainty factor is why I'd banged on about it being unwise to be all in.

Hard to pick highs and lows so hopefully just one of the steps necessary to take it forward.

They overran on MOU-3 as well and I recall being shouted down for suggesting the CFO shouldn't really sail so close to the wind.

Having said we don't need flow rates to sell it and we have interested parties I'm afraid management look like plonkers now.

Strikes me a CPR usually takes a reasonable amount of time in analysis of results and conversion of data into a resource figure. Surprised if turned around so quickly to cause concern around a placing.

There are all sorts of games played in the small cap space though so who knows what comes next. If rumours of an underground dust bowl had come out though dare say it'd be dropping quicker than this. Se seems cap market related.

Seriously doubt GRH is inside for trading purposes but some companies meet shareholders and let more info spill than is advisable.

Be interested if he had trimmed his holding at all, that would be more pertinent in terms of belief in the story.

Even if he has although he may have shared doing so in them past he ultimately doesn't owe the board that info or anything else - all decisions are our own.

Bought some more on Thur taking a view the reward is worth the risk.

The shorting is certainly questionable. I'd be interested to know how long Farage had been in receipt of the dossier on him and how much he was baiting a trap for management.

He brought the story in to the public domain, the CEO merely commented as to the why of commercial grounds not releasing account details. Seems to me she was poorly briefed by Coutts and then the PR of it was done badly.

If he was proven to be in league then I wonder what may happen.

The sooner he is out of the news cycle never to be seen again the better, he is an odious individual.

Agree with Madman-Rob - there is good research out there (thanks to KeithOz as I forgot to note when posting link the other day) to indicate potential volumes. No guarantees but good research to show possibilities.

They also mention the API which @ 13° is heavier oil, however good reservoir characteristics and lighter crude from other wells mean it can easily be mixed. With Venezuelan issues and Russian stupidity there is a good.market for heavier oil.

I think the reaction is to the C7 water cut but management hasn't said this is no big deal in regards to the uplift in reserves. They still mention the reserves uplift in the RNS and it is more of a misread by some.

The news is good and clearly CN-2 and CN-3 are likely to be good producers taking us up to 3.5k plus

Airswift had $1.2bn turnover when taken private so was sizeable

Https://www.reddit.com/r/PredatorOilandGasPRD/comments/xqaeza/prd_the_sleeping_giant/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=3&utm_content=2

Some interesting research

Thanks all - yep believe they have alot to test hence timing. Ultimately likely positive. Expect news should be soon and probably see us rise to.....oh maybe 23p given sellers!