Member Info for Jonmo91

The market needs the drill and an RNS stating a commercial discovery. At the moment it’s just another E and P in iffy market times. It should continue to rise on speculation of a positive result but won’t re rate properly up or down until drilling and testing compete.

Any corporate transaction will not reflect the whole potential of the licence but you wouldn’t be waiting years to prove it up.

Not too shabby. Could be a very good New Year.

With todays RNS he’s well out with those timeframes and no mention of the jorc or cobalt.

Would we need a JV partner/more finance for that drilling? I’m guessing it wouldn’t wait for any CNG gas sales. I thought, and I may be wrong, that we were good for this drill and the testing of MOU 1 and 2.

What would be the reason for no drilling date if the well pad construction is completed and the rig contract signed and at a holding location?

Nothing to do with nay saying. Delays happen, but should PG have so much slippage so close to a predicted timeline. If people on here know what they are doing and saying it’s expected, shouldn’t he know better and be able to be a bit more accurate.

I’m not trolling. I’ve been here two years. Perhaps when you’ve been here more than five minutes you’ll know what you’re taking about

I’m not sure I’ve come across a CEO who misses quoted timelines as much as PG. He needs to get a grip or someone needs to get a grip of him and what he says. The latest estimate was such a short time ago it’s hard to see how he’s wrong again already.
If it’s become too much for two people, get more people. It’s becoming farcical now.

It’s 10-20 % more than you could have got in and enough of a rise you’ve been dripping ever since.
This is just a patience game now. The closer to spud the more it will rise.

Absolutely like it was absolutely going down to the placing price, and having gone up instead you’ve been slating it ever since. That kind of absolutely?

Maybe but they haven’t been that aggressive so far. Nearly a million dropped very quickly.

Someone is dumping a load

I know PRD have relatively low shares in issue. Pointing at other companies and saying we are not as bad as them isn’t really a reason to invest. I am only interested in what PRD do and how it affects my investment. I’ve been here long enough to take PG time frames with a pinch of salt.
That being said, if the gas is there value will out in some form. I am confident the drilling and testing will take place even if later than expected.
In the next three months we should know if Morocco is a goer or not.

I am invested and have been for two years. I’m not trading it. My point is that PG continual slippages has an affect on the markets confidence in him to deliver, which is reflected in the share price. He has done a couple of poorly timed and priced placings which has increased the dilution. That has more of an effect on an investor than a trader.
Let’s hope drilling and testing is this year.

If PG releases news that the well pad is being or has been built the price will rise. That news could come at any time. Barring any surprising poor news, buying in the 7’s is probably as good a deal as you’re going to get pre drill and results.

The current drill and testing is financed. That is it. I wouldn’t rule out another funding. Yes PG says CNG will be self financing but he says a lot.
Still needs to get the CNG up and running, should they confirm a commercial discovery. If the terms are not favourable he may go back to the markets again.

Slippages happen but they only released the presentation in July. Nothing PG says ever happens on time. Very little chance gas sales in the next 6 months which he stated in one of the recent interviews.
I realise they are a two man band but surely it’s got to the point they need to start employing more people.
PG continually slipping on time frames affects the share price which ultimately leads to more dilution with poorly priced placings.

It never reached £70. Your charts are not taking into effect the horrendous dilution.
Hopefully it won’t follow the GKP trajectory whereby anyone who didn’t get out on the spike got wiped out.

Any future gas sales estimate or farm outs are subject to slippage etc.
Having definitive drilling and testing this year is a positive. Should be exciting times leading up to Christmas.