Member Info for Jonmo91

The end of the day the CEO stated that timeline. You would expect questions to be asked if it passes with no update, whatever company it was.

The simplest explanation is they need more money and finance options are increased after successful MOU1 testing.

Had they not encountered the mud and hit TD they’d still be in the same situation now waiting to test. He must know when he states these timelines that it’s not achievable.

Seems overly convoluted. They must have known this process was in place before they started drilling MOU1. MOU 2 drilling appears no further forward than when he said 3-6 weeks six weeks ago. We’ll see but any movement on either front looks like months off. Not a surprise as PG slips on every time line he states. See you all in the summer.

He said testing of MOU1 by end of March.

Didn’t he say 3-6 weeks re entry? They suspended on the 22nd Jan. that was 6 weeks yesterday.

What’s laughable is both sides are at it and are as bad as each other.
The facts are it’s one completed untested drill
In Morocco in three years. As glacial the move is it MAY prove massive. You pay your money you make your choice.

The drilling suspended on the 22nd Jan. That is 6 weeks on Sunday. The CEO estimation was re entry 4-6 weeks. Unless they are taking the mud to Aberdeen on an ultra run you’d expect an update in the immediate future.
MOU1 update can be at anytime. Aiming for end of March has little relevance when the 4-6 week re entry hasn’t been met.
This is how PG operates. It is what it is.

Keith you are talking about S.5. S.4 doesn’t require a breath test. In any event if a breath test is required it only need to be administered by someone in uniform.
Powers of arrest differ if it’s an injury accident.
Nigel clearly didn’t arrest three people for it but what you’re saying isn’t strictly correct. Stick to the drilling!

I expect PG to test MoU1 before making a decision on funding. That could be in the next couple of weeks.
Not sure what all the cuffufle is about. We are no worse than last week when everyone was happier

They are not testing all the MOU1 zones as they had initially planned. Stated on the last interview.

I think PG knew he needed more to finish MOU2 as soon as they stopped drilling. Sending the mud off for analysis gives him time to get MOU1 tested. He must have known ball park almost straight away.
They play it safe now with 5% dilution or he waits for MOU1 results. After that it’s way above or way below todays price. PG seems confident it will flow.

They may be further down the road with the subsidiary idea to get funds than we think. He’s mentioned twice now and interested JV parties have already done DD previously. Perhaps the results kicks it all off. The initial plan was to test both but I’m sure if MOU1 flows well then something could be worked out relatively quickly.
Either way, MOU1 testing is funded, if they are confident there’s little reason to raise before releasing those results.

PG stated aim is to prove up and sell on. Provided shareholders get most of what he gets for Morocco , via special dividend for example, keep a little back to seed the next idea, he can do what he wants going forward. I wouldn’t like a significant amount held back to finance his next big idea though.

Yes. The market doesn’t know what to do at the moment. MOU1 will either be positive and opens up favourable funding or it won’t and it’s a placing at a lower level to get MOU2 done.
Also, as MOU1 testing is funded there’s little chance of a placing before results, which the market appeared to be pricing in, at least on the initial drop.
It should move up but the modern ‘investor’ can’t hold for 5 minutes let alone 5 weeks.

I understand the need to remove the uncertainly with being funded.
That’s twice now PG has mentioned someone coming in using a subsidiary to avoid regulatory delay.
He must be confident in MOU 1 unlocking the finance for MOU2 completion and then MOU A or he’d raise the minimum today to get MOU 2 finished.
Things should move quickly once the testing is completed. Whether positive or negative MOU2 will be re entered.

He has mentioned the Green Hydrogen previously. I am not a fan of the next shiny thing to get excited about while Morocco needs sorting, but yes, the inference is Morocco should be moved along sufficiently this year to move onto that.

The company never said it was a duster. If that was the case they’d raise today to get MOU2 completed.

Crude Trader, he said MOU1 testing by March, this will provide further funding options, next step MOU 2 re entry. I think he needs more money to complete MOU2 but doesn’t want to raise at these levels. All eyes on those results.

March is only three weeks away.
Re entry to MOU2 looks longer than the 4-6 weeks he said last week but it isn’t going anywhere.