Member Info for Jonmo91

He didn’t say ‘ $150-200m per 40 BCF’. That’s what we want him to have meant. That’s opinion as what he said on the face if it was that amount plus 10% royalties for anything over. That could be cutting and running early to get money in the bank now. That seems premature for size of the resources that could be proved up from drilling MOU3 and testing 1 and 3 which are expected short term but it’s what he said hence the confusion.
PG will have to clarify on the 18th May, if not before.

Depends what he holds back, but $25m would give the $9m for T and T and $16m capital for T and T and Ireland. The remaining $125-175m is the 25-35p.

The effort to talk it up and down to scalp here and there cannot be worth it.
PG has stated, whether those believe it or not, that he’s exiting Morocco.
Still a decent return, should it come off. Not what some people on here were talking about though. We’ll know soon enough. Maybe those who shouted loudest would have exited before then.

GRH what do you mean do more homework? I never bought PANR. The Cube was having a spat on Twitter while near a pound and has proved to be wrong, to date anyway.

Cube was pumping Panr around a pound. Let’s not hang anything on what they say.

The logical plan was to get CNG up and running from the gas agreements/leasing etc that PG has mentioned several times. Once the money rolled in the drilling would be self financing. No more dilution. The further down the road PRD got the more they could sell it for. Maybe PG’s glacial pace isn’t want ONHYM want, especially if they have a major in their ear talking them up being centre of European energy security which came about after PRD were already there.
Suddenly dropping 75 % working interest to a 10 % royalty after a buy in for the first 40 BCF, without the need for conventional testing or MOU2 to complete sounds like state involvement, he may not have a choice.
PRD was always going to get squeezed if it was a large discovery, if that’s the case what was suggested Sunday wouldn’t be a bad result.
Alternatively he could have just been tempted by the next shiny thing in Trinidad and changed direction.

It was 150-200 and he also quoted that £2.67 value when referring to $1.2 billion for CNG.
Two months ago he said re enter MOU2 whatever it takes and now he doesn’t need to.
Im not saying a change of strategy or direction is wrong but clearly what he says can’t wholly be trusted. See what he delivers not what he says.

PG is cashing out early so he doesn’t have to do the work, that’s saves both time and money but isn’t worth as much. Whether he gets the figures of $150-200m and as much as 10% royalty over 40 BCF we’ll have to wait and see.
I am happy he’s going down the route of monetising early should he get near the above. I would however like a half decent special dividend from the sale and not roll the majority into T and T. He mentioned it wasn’t the easiest place to work. That book value could depreciate quickly which wouldn’t bother me as much if we already had a 25-30p dividend.

PG has always stated he wasn’t interested in gas to power. He was never going down that route for the capex reasons you state. He did say CNG was worth up to £2.67 per share, pre latest dilution. That would be from producing wells. Three wells with leased CNG facilities could have been financed and was achievable. He was never going to get £2.67 but to get anywhere near it would have required the up and running CNG business. Why he has suddenly said sell for $150-200m pre any CNG development I do not know. But he stated he wasn’t willing to give up 50% of $1.2b for a JV. We don’t know the details of that offer but if it included the costs paid by the partner, which he was looking for before the talks started, that may have been a better option.
Something has shifted his focus and it isn’t cng capex. Perhaps we’ll find out more on the 18th May, perhaps we’ll never find out why.
It could all change again anyway so until something is signed and binding it’s all speculation.

Keeping £20m back for the balance sheet to fund T and T and anything else would give shareholders 25-35p special dividend with the prospect of more through a royalty going forward. This could be achieved on one drill which is pencilled in for next month. I wouldn’t be unhappy with that.

I would expect clarity at the investor presentation on the 18th May. I did think it’s $150-200m for 40 BCF and 10 % royalties for the remainder of the licence without us being on hook for doing any of the work or cost, that would mean an exit from Morocco other than the royalty interest. That is not in keeping with MOU3 targeting all zones though as the CPR numbers are far greater than the 40 BCF.
I’m not sure what the purpose of yesterday was. He has announced a u turn on strategy but could have done that after the MOU3 drill.

It’s not just the message. It’s a different strategy to two months ago. Who’s to say he won’t come out with something different on the 18th investor presentation. Market won’t by into it.
However, it wont matter if he sells something from Morocco as the price will be the price and the market will correct then.
Hopefully all long lead items will be in place in May to complete MOU3.

That’s what I’m thinking. If Morocco can play a part in European energy security the big boys may have been in their ear saying you need us not a two man outfit. Would explain how they’ve run into needing a load of paperwork for testing that Lonny and PG appear to not been ahead of despite working in Morocco for years. Could also explain the change in strategy from the last interviews just a couple of months ago.
A 10 % royalty going forward of additional finds could be very lucrative and a thank you handshake to the work to date.
See what happens and not what he says. We should know more in a couple of months but we’ve all said that before.
Could easily be as has just been said, just an area wrapped up but sounded like a Moroccan exit to me.
Not sure of the ill health mentioned, was quick to shut down company being sold.

Either way it’s multiple of todays price if he pulls it off. I did say before that if this turns out to be a massive hydrocarbon discovery over the coming years will prd be the ones to realise the value.
PG stated before he didn’t want to give up 50% of a $1.2 billion play at this stage when discussing the JV opportunity. Is he not giving up 90% of anything over 40 BCF for 10 % royalty now?
PRD could have arranged and financed the CNG if the MOU1 and 3 numbers come in. Something has made him go for a quick $150-200 million with future royalties.
Let’s not forget a couple of months ago he said testing MOU1 by end of March and re enter MOU2 whatever it takes. Now it’s MOU2 not required and testing isn’t as important as people say. Yesterdays plan could change again by the end of MOU3. Something major has happened behind the scenes by the looks of it.
The other question would be how much of that $150-200 million would be returned to shareholders by special dividend and how much would be withheld for ongoing operations in T and T etc.
I thought on its own yesterdays podcast sounded decent and a route to monetise is welcome but taken together with what has previously been said it was another change in strategy. See what he does come the summer.

Yes black dog the list is not exhaustive but it certainly wasn’t long.

Not moaning, stating facts. There is no logical reasoning of people waiting to see the Sunday roast when everything he said on the last one he didn’t do. Fact.

I first invested Nov 20. Posted on this board 91 Jonmo. Deleted that account and posted under the similar one I do now. Explained that at the time. Was in at 3.5 p time. The only ones posting then was GRH, Sefton, Nico under a slightly different name, Zebra, maybe Private Tesla. Nigel came not long after, to the detriment of us all.
My point is the last minute traders like yourself are a joke.
Objectively, everything PG said at the last Sunday Roast hasn’t happened. Why would anyone put any weight on this one?
OG may well be doing it for the long run. We won’t know until it happens as what he says he doesn’t do. That is a fact. Three years in, one completed drill that remains untested. The hope is that all changes soon. We will all find out together if that is the case, hopefully soon.

I’ve been here a lot longer than you. The fact is everything he said on the last one, 4-6 weeks re entry MOU2 and MOU1 testing end of March has not happened. He has not even mentioned why.
My point is, if he hasn’t done anything from the last one, why put any weight into this one.
You are a third rate poster on here. When you’ve been an investor a bit longer have a more weighted opinion.

The end of the day everything said in the last one hasn’t happened. Why anyone puts any stock on this one is beyond me.
His actions may well be for the greater benefit of the company and shareholders, but he has proved anything said outside and RNS, and within for that matter, is worthless.
The risk is PG here. He doesn’t do anything he says within a time frame he says. Forget about the ramping on here, if he didn’t have a significant shareholding you wouldn’t touch this with a barge pole. He does have that shareholding though so tho hope is he does something that he says at some point. Time is your friend here. You need it to see it out to see any gain.

I’ll not tie the board up conversing with a drug addled crack head and will leave you to get back to your pathetic retirement.
I’ll be perfectly happy tomorrow and every other day without needing the chemicals to keep me going.
My last word on it.