Member Info for Jonmo91

GRH thanks for the explanation. There would have been a lot of that at play, but the inference from the previous RNS was that the prospectus/CPR was due next. The question on many peoples mind is why raise, including over the minimum, before the prospectus was released which is in its final stages, assuming of course it leads to an uplift in price.

We won’t know until it all plays out.

It’s done now and money in the bank which gives PG options.

Zebra has been here for a long time.

Placings are necessary, people take exception to the unnecessary dilution. PRD have a history of poorly priced and timed raises, anyone here long enough will know that.

PG and Lonny did loan and sell their shares but they are being paid a decent amount of interest to do so. Had they released a prospectus after the first time he did it, they wouldn’t have needed to the last two times. This way they earn interest on shares that otherwise would have been dead money unless they sold.

It wasn’t a good deal at 11p. It was for £7m minimum. They got £10m and it was still over subscribed, that tells you it was done too cheap.

Finally, the strategy for PRD is to prove up and sell on, hopefully with a special dividend. That amount whether you’re in profit or not will be reduced with the dilution.

Since MOU1 in 2021.

PRD have been much changed this year since MOU2. They are flying and I am positive. Should be able to discuss things on here but get stupid replies from the normal crew. Laters.

Read previous RNS in relation to testing.

It’s a genuine question you bell end. Clearly they need to test or PG would have sold prior as stated in the Roast interview. Now he has raised £10m and the tweet suggests MOU5 drill.

Are they testing the other wells before or at the same time?

Helpful bob. Jimmy is the most unbiased person on this board and he said the same.

Get back to your turnips or whatever you do.

These initial results must be known to get the ‘institutional investor’ on board. Can PG hold these results back until the prospectus? Maybe if it was released quickly after the placing but it’s getting on a bit now.

If you’re in for the results dipping to low 11’s seems more a drama for the flippers. It’ll pass, it always does.

Awful news. Sorry for your and your family’s loss

I was more concerned at previous placings. The speed he’s going at now it’s not so much the price as the price action before hand which was disgusting, which ultimately contributed to the 11p.

A poster used an analogy of ripping the band aid off. It’s done now and we have a large amount of money.

The mention of institutional investor on board, fox Davies dealt with them and Novum the rest as flippers?

Decent advice on corporate activity wouldn’t go a miss though.

I wouldn’t disagree with any of that Keith. Also the £10m on the books, regardless of how’s it due to be allocated would certainly keep the wolves from the door with breathing space.

I’m on holiday with iffy signal so can’t check the RNS’s but just under 550ish million shares in issue when everything is square wouldn’t be too far out.

To use your analogy, it’s like opening your present at Christmas to find a PS5, but someone paid a grand for it.

They will be created when the prospectus is signed off.

I don’t know what you mean. 200million headroom was voted for at the last agm. They’ve used 90 odd on this fund raise. There’s ample to make PG and Lonny good.

They don’t need buying back, they will be issued from the new headroom provided when the prospectus is signed off.

It needs to be more comprehensive than that. It’s not the first time they’ve raised for testing. Yes they jumped from MOU3 to MOU4 but I would expect it to be covered in more detail given the amount.

Sounds like a flippers problem.

Extra cash could be for the upcoming T and T commitment and working capital without sailing so close to the edge?

All hinges on the testing results now. Certainly wouldn’t expect another raise prior to those results. If they are positive they can raise the drilling costs at a much higher rate.