Member Info for Jonmo91

Nico I was having a discussion on a board for the company. I don’t know porters or anyone else on here. You however have been a prize t w a t on here since I’ve been reading the board the last three years. Back to your drugs and quiet down. There’s a good lad.

There have been no TR1 and if they started landing the price would rocket. There is a relatively low amount of shares in issue. I don’t think they’d get anywhere near 50 % on the open market. They’d have to declare before that anyway.

It looks like (to me) a potential purchaser tried it on at the JV stage and called PG bluff to get it done alone. If he can get to selling through CNG to finance any future exploration and appraisal without giving too much away then any leverage is lost.
There will be a crossover where they realise he is getting it done and that’s when an offer may come in before they have to pay fuller value. Probably why there has been a suggestion of someone going hostile or at least protecting against it.
I’m not sure hostile will work with how many shares PG has especially if he didn’t recommend any offer.
The only spanner would be the big boys trying a squeeze politically if the testing went big numbers.
I would be happy if MOU3 drilled, MOU2 completed drilling and all three tested and results released this calendar year.

I considered your reply as rude. If that was not the case I apologise.

My point to Ford, which I thought was pretty clear, is the £2.67 figure has reduced through dilution already and will reduce further to finance and get to production.
Ford said he wouldn’t take £2 in this moment in time, as in now. He then said in his opinion there was no chance PG would take £800 million. The current market cap is £30 million. Now you may not agree which what I said but not having a clue what I meant is pretty stupid on your part.

Maybe not with three producing wells and self financing to appraise the rest with no financial pressures but you say at this moment in time. No chance anyone is offering £800 million at this moment in time and if they did at PG’s age and the speed he works at I wouldn’t be putting it at no chance to accept.
Also, as I said, to get to three producing wells and cash positive to give the freedom to dictate terms PRD wont own 75 % or more dilution would have occurred. That £2.25 will be less and the leaving a bit for the next man etc.

PG needs to get producing with cash coming in to pay for any future drills to prove up what the acreage has, once that happens the dilution can stop. To get to that stage will take more dilution or selling a bit off through that subsidiary route he mentioned. Getting it all up and running will cost, nothing is free and I don’t think it will all come from future sales, RBL.
Also, no one is paying what it’s worth as they need to earn out of it too, the earlier someone buys it the more they have to finance to get it to production.
At this stage if someone offered £2 before any of that was done PG would likely rip their arms off.
It may well be that Morocco turns out to be a massive hydrocarbon discovery, whether PRD are anything to do with it by then will have to be seen.

All sounds positive and logical but if this was the plan a while ago with the long lead times it begs the question why PG stated a couple of months ago re entry to MoU2 4-6 weeks and MoU1 testing by end of March.

Lonny liked it

I’m still here because he may still deliver. I post because of all the one sided agenda driven board can do no wrong rubbish one here. I’ll sell when I want thanks. I’ll also post my opinion and if you don’t like it don’t read it.
Stating a fact that the bod haven’t done what they said is now whinging. You are an idiot.

Poor comms and missed self imposed timelines leads to poor placing prices and more dilution.
Shares in issue have increased 67% since I’ve been invested. For that I’ve seen one completed drill that remains untested.
Instead of the name calling perhaps step back and look at what has been released by PG and what has been accomplished to those stated goals over the last couple of years or more. The answer is not a lot.
There’s always excuses on here, you’d think the CEO would have a grasp of things when he says them.

Comms are shocking, have been since I’ve been here. The interviews were a breath of fresh air and within 6 weeks he’s missed the timelines he’s set and all the plans have changed, back to normal then.
Usual crew can see no wrong in anything PG does, that in itself should ring alarm bells.
No point having a running commentary from the bod as the sporadic commentary isn’t reliable.

I’m not buying anymore and I’m not selling until I know what’s in Morocco. The share price matters while placings are still the way of funding this company as a lower price equals more dilution.
Every time PG opens his mouth and doesn’t deliver on what he says the placing price is lower than it should have been.
Eventually we’ll find out what’s there and how much it’s worth to PRD shareholders.

Balance would be PRD could be sitting on the motherload but the Corporate governance and communications are an absolute shambles and may well be the barrier to monetising any of it for PRD shareholders.
I’ve not seen governance like it since Kozel at GKP. Literally nothing he says happens.
I remain invested as if it’s big enough even PG should get something out of it more than the current price.
We could be having the same conversations in two years with nothing done. As long as he’s earning interest on the shares he keeps lending out, at least someone’s doing ok.
The ramping crew on here will lose newbies more money than the doom monger traders ever will.
Getting a JV, brilliant, Lonney pumps the price on Twitter and PG sells out only to say no JV, ramping crew, it’s even better news didn’t want one anyway.
PG says he’ll get MOU2 whatever it takes, now it’s better news he’s forgotten MOU2 needs finishing.
18 months no MOU 1 testing, turns out Morocco is bureaucratic, PRD didn’t know that apparently, this would still be happening if they didn’t hit the mud for any testing.
Balance tells you the governanace isn’t right here, anyone who won’t admit that has zero balance.
Good luck any genuine investors, although I suspect there are few without an agenda.

Shouldn’t they have known what Morocco was like? Had there been no mud they’d have hit TD and be going through this debacle now trying to test two wells. Where’s the forward planning?

If they wanted the mud tested it would be done. It may be unique to that area but it won’t be unique to drilling worldwide. If it was just say that. No point making stuff up so it can be a positive. It’s either appealing comms or bad news. Every time you think he can’t kick the can any more he does it again. Blokes a liability.

The conclusion is they are either not testing anytime soon or they are not confident of the outcome.

What’s the point of an interview. Whatever he says is rubbish. Every interview he has given over the last two has proved to be wrong. Why believe the next one.

The problem is you can’t believe a world that comes out of PG’s mouth. The drop will pass and there will be some kind of rally into the next drill. I was always holding for results but unlikely to ever come. He gets distracted with the next shiny thing, doesn’t finish anything. Here 2.5 years. One competed and untested drill. The man shouldn’t be allowed to be a CEO.
I wonder what Lonny thinks about all this.

Complete shambles. If MoU2 is abandoned just say it. 4-6 weeks re entry whatever it takes. Radio silence, we are drilling another one in May. MoU1 testing done by the end of March?