Member Info for Jonmo91

Shares in issue are nearly double when I first invested. I don’t recall ever seeing a TR1.

No reason. How about the managing director tweeting like a lunatic while we are waiting for a JV outcome to get the price up only for PG to sell into the rise then announce no JV and a 5p placing. There are many other governance issues too.
Skin in the game is PG only credibility here. And in the long run it could all have been worth it.
This could still go either way. If it explodes the signs were obvious, likewise if it goes bent, in hindsight the signs were obvious.
The only thing sorting this out is the drilling and a clear RNS afterwards what we have. That is now within reach.
This is PGs work to manage and any payout we get will be down to him, but if you go to the markets to fund it, as a ceo, you can expect to be scrutinised. PG may be a very good geologist but as a ceo, not so much, to date anyway.

Ford, your posts are so sycophantic and one sided it’s untrue. People can read. PG’s governance is moody at best. The only reason I remain invested is because of his holding. If his holding was like many other CEO and had no skin in the game I wouldn’t touch it with a barge pole. Having some balance isn’t a bad thing.
One way or another we should know what we have in January. And I hope, as anyone long, that GRH is correct. I followed GRH on iii back in the day regarding GKP, and he was spot on there.

Blackdogtaff, quite correct, my mistake.

I was going to ask the same. It was an oil prospect in July. What could have changed it to gas in such a short period of time without drilling?

Contingency planning wise it is a smart move if testing of MOU1 and 2 isn’t what they hoped.
They have effectively got a placing away at 8p to drill MOU3 and support the other projects. If MOU 1 and 2 testing is bad then they would have got another placing away at the square root of FA so gives them another bite at a better price than the last 5p one but not as good if MOU 1 and 2 are positive.
Hopefully that’s a by product and it’s moves for a corporate structure and we all get paid at some point next year.

*the former!

Yes I fully understood the RNS, and in isolation I’m not saying it’s a bad thing. My point was not in the price action afterwards, it’s in the fact that PG never sticks to what he says in an RNS. It was fully funded a month ago. Now another placing. At some point it may come back to bite him that the market won’t take any RNS at face value.
On the other hand it may be ducks lining up for next months results. We won’t know until next month when either the price goes ballistic with a corporate structure or PG releases another RNS with more questions than answers. Obviously I hold for the latter.
MOU3 ordering now for long lead times, we are still waiting for MOU 2 to be drilled because of the same thing, why would another 6 weeks matter if they could raise after the testing of MOU1 and 2?

We were fully funded at the last RNS a few weeks ago.
The market is getting to the stage it doesn’t believe anything PG says. Just get the drilling done Dec and MOU1 and 2 tested with a straight forward RNS stating the results.

Near on 400 million shares now. Let’s hope it’s the last one until at least MOU1 and 2 tested after the drill or it will just become another listed company administering shares to fund directories lifestyle.
They are saying all the right things but if MoU1 and 2 have what they say they could have raised at a much higher rate in just 6 weeks time. Bearing in mind mou1 still isn’t tested from a drill well over a year ago, why the rush?

Even I didn’t think he’d manage to get another placing in before the drill, what with all the fully funded stuff repeatedly stated on here. Sounded like Mou3 had moved up the list off the last RNS compared to presentation comments. We’ll see how it plays out. Still should know what Morocco has by end Jan.

In the investor presentation it felt like oil would be in the future with a farm out or JV of some description. That seems like it’s moved up the pecking order from the latest RNS. Something changed in the last couple of months? Maybe I miss read the investor presentation. How it seemed to me though.

He won’t hear you with the tin foil hat on.

Possible special dividend. PG has stated he would prove up and sell on. As PRD have Ireland, TT and Morocco, the aim was to sell projects at a certain stage and pay a dividend. Whether he can split Morocco I don’t know.
Full company sale would be capital gains.

It will be if Russell tries to get to 30% on the open market like he stated.

When he releases production starting it will fly. If he can follow up with the cobalt drill to keep the momentum it should go again.

It reached 21p intra day pre spud last time.

Offering 18.50 to take holding

If the CNG is a goer and has short term cash flow wouldn’t it be the same principle as now of not farming out before we know what we have. If CNG pays short term why not pay for our own drill and farm
out afterwards on better terms, should it be there?

Yes they are loaned shares and will have no effect as just repaid. It is the second time he has needed to do it though. You’d think after the first time he’d got the headroom needed, especially after most on here was saying a JV before a drill would see our trousers pulled down and a raise keeping field equity was the way to go. PG did learn though as this time he charged interest.
It’s all looking good at the moment leading into the new year but governance issues with PG do crop up. It’s not all roses if you take the glasses off. That being said, there’s a lot worse governed companies out there, but PG is not as perfect as some make out.