Member Info for Jonmo91

There’s virtually nothing baked in for Ireland or TT.
Market seems to think 4.5-5p is the area until anything breaks good or bad for Morocco. Eyes forward for Wednesdays Q and A.

If we are not raising at this level then it doesn’t matter as just waiting another couple of months for the results.
Working that hard on BB’s trying to make percentage gains every day must be exhausting, but if it’s your job maybe not.

Hello AGD62, I was responding to Porters post.
I was thinking if they find commercial gas at MOU1/2 there would be other funding options for further wells. Certainly wouldn’t place at these levels for anything forward planned.
Logically for me, after testing 1 and 2 the next thing to mention would be the gas sales mentioned in previous RNS but he didn’t and talked about MOU3 which I think has invited the question from Porters.

It’s worth saying though, if there is no placing coming and he’s doing it to reassure investors after the market wobble then fair play.

As CEO it’s his job to have financial contingencies for what happened. You really don’t want to go to the market for money when you need it having reacted to something. You’re raising off a drop from the initial news.
I was surprised when he mentioned MOU3. They could encounter the same problems and don’t have a solution to this one yet.
Clearly they need to get MOU2 to TD and if it’s a raise so be it. Would show poor financial planning though.
I know people are saying we have money but arranging the investor presentation in the middle of all this rings the alarm bells.

They should have raised enough for financial contingencies related to this drill and testing of MoU1 and MoU2. They may well have done. We’ll know by Friday latest I’d imagine.
It would matter if it was done now at a much lower price because of the unnecessary dilutive nature of it.
If’s and buts at the moment though.

I’m sure someone will ask a funding question on Wednesday. He could have specifically ruled it out for anything related to the current drill this morning. MOU3 always needed funding but unlikely to raise for that now at todays price.

The market is pricing one in. PG has a history of poorly timed and priced ones. It just wouldn’t surprise me. No cost near term might not mean no cost month -6 weeks.
That being said I added some Friday. I’ve not been in as long as yourself but won’t sell before the results as been here long enough to wait a little longer.
Even if a raise a positive find will blow 5p out of the water. No commercial find and it’s worth little raise or not. That was the case before the delay, so PG is quite right in that respect. Nothing has really changed, other than the seal being a good thing.
The selling might stop but people may wait on the sidelines until what is said Wednesday.

It dropped so much because of a possible raise imo. They didn’t directly ask him if it was fully funded. Yes he says nothing changed but he also said whatever it takes to get done. Mentioned MoU3 which definitely needs funding. Had previously mentioned contracts on results of MOU1 and 2 after this drill and testing but nothing on that today, maybe more or Wednesday.
Could do anything tomorrow.

Exact term was “Doesn’t cost us anything for it to sit there in the near future”

I thought he said something like immediate future no cost not the month to 6 weeks without cost.

Zebra thanks for the reply.
Yes everyone with experience is saying it’s a positive because of the seal. Jimmy mentioned that what they encountered on the way down was what they was expecting according to the CPR so no reason to think that it won’t be correct after getting through the next 250 meters.

The geologists and drillers on here know their stuff, the odd thing for me is

If it’s only a couple of days drilling with a solution which is not uncommon and we were not told the spud date, the last RNS stated next update would be TD, why issue the RNS if a delay. No one knew of a delay as we didn’t know when they started.

As long as there is a solution to the drilling, raise or not, that’s all that matters. I don’t see him rushing to tell investors he isn’t finishing the drill. Gut feeling is raise, but if that removes any problem the price will rise if they hit want they think. No one was expecting the last RNS. The time pi could sell the drop was over. Trying to trade it now if you were in for the results makes little sense.

Presentation is Wednesday but he’s doing an interview on Sunday roast tomorrow as well.

Yes he has time to issue Monday 0700. Tomorrows Sunday roast is certainly something to look forward to. I was half hoping for an out of hours RNS yesterday to cover off what he may have said tomorrow.

He’s on the Sunday roast tomorrow, can’t issue an RNS.

That would be the Carlsburg interview.
What we don’t need is plug mou2, raise for MOU whatever number location it is now in some future date, coming back to mou2 afterwards.
Two interviews the week after they stopped drilling after hitting a problem suggests raise. Whether there is or not, getting MOU2 done, dilution or not, is the priority. I can’t see him stopping 250 meters short, but he’s in a rush to say something.

Charlotte is the best hindsight trader I’ve seen on here and there’s some ****e on these boards.
Guarantee if this bounces next week s(he) bought in at 4.2p.

They are not going to stop with 250 meters to go.