Member Info for Jonmo91

No one invested should be worried about placings or raises. They need to do it to get value for shareholders. They can’t raise without a new prospectus, and as you’ve quoted, CPR should be released at the same time. PG has not been hanging about since the turn of the year. Long may it continue.

I hope it is. It would mean the prospectus is coming and we are moving forward.

He said volume for industry, testing for retail.

Probably why he keeps bumping testing for more drills.

PG stated in the Sunday Roast they would be good to do a deal after MOU3, if that was bigger than expected that should only affect the price. Next news could just as easily be a deal with a prospectus with it or closely behind. He’ll need it to get his shares back to benefit from any deal.

No one’s worried. It’s a discussion board and I was replying to someone who mentioned testing next stated on the July RNS. What’s your point?

Indeed the situation is fluid, however, any more money required through a raise will require PG be made whole again with his shares as there’s little headroom now. That requires a prospectus.

Whatever next is coming as soon as they can make it happen, given the recent pace of events.

PG has previously stated prospectus/CPR before testing.

To roll it all onto one of the next projects where the risk goes up again wouldn’t be great. Assuming they can get a deal away for Morocco, return what they can to shareholders and then move on to T and T and Ireland.

It’s humbling that someone with no financial interest would take the time to give free portfolio management advice. It’s always welcome to be reminded when you’re 5+ bagging that things are not as rosey as they seem.

Irrelevant what the reasons are, PG has stated testing MOU1 on several occasions.

PG has stated testing MOU1 and 3 on more than one occasion this year.

PG said re enter MOU2 whatever it takes.

We are now on MOU4 without testing.

PG said JV.

PG said no JV.

PG said take business to CNG with free cash flow.

PG said exit Morocco by the end of summer no due diligence on whole block.

PG said FID on CNG.

Those decisions are his to make, but he has pretty much said he’ll do everything even if it’s contradictory.

This is a discussion board for this stock.

Given what he has said all we are left with is what we’ll think he’ll do.

If he is looking to exit this year, and given the comments about testing vs volumes for purchasers, is his next move after the prospectus/CPR the next drill or the testing. He might be tempted for that next sweet spot, perhaps long lead items for another drill might hamper that option.

He said he’s looking for a Morocco exit this year. Using the subsidiary, PRD keep a working interest whereby he can be a consultant for that royalty. He mentioned that role. I don’t see him wanting to get the CNG up and running.

Wasn’t our original JV interest from Israel?

I don’t see how they do a raise involving issuing or selling of loaned shares before a prospectus is issued. PG and needs making whole first on the previous ones.

That’s not to say something else might not come into the fold.

That being said, the pace they are currently going at, I’m not sure any reasonable investor would begrudge them any financing they see fit at this stage.

Some of our residents have been caught out trying to trade placings. Each to their own.

I’ve not got into valuations just the plan for the company, as stated, which appears you haven’t read.

PG voting rights are diminished until they are returned. That and they may need a raise (nothing wrong with that). The CPR and prospectus should see an uplift with shares returned to Paul and Lonny.

I think there’s half a chance they’ll move onto the next drill after the MOU4 information before testing. We shall see.

As soon as people start talking about PrD prospects and figures you/Louis10 turn up to cause an argument again. The discussion then gets turned into a spat and any decent discussion gets pushed off the page while everyone argues personalities.

All eyes on the prospectus I’d imagine. As BRV said this morning, that needs sorting to restore the shares and headroom.

With the information constantly changing from the drills the strategy is likely changing with it.

Logically you’re looking at prospectus/cpr, testing, next drill from the MOU4 information, but Paul G could switch that up given what he’s learnt and what’s left in the pot.

Paul will either sell and exit Morocco after testing (as he’s previously said) or if he’s in for the long haul of more drilling and testing for the whole licence areas, beyond the next couple, that will be funded by the CNG revenue. CNG upfront was quoted initially at around $5 million. That would likely be another form of finance.

It won’t be a constant raise and drill over the next few years through raises and placings.

“It is anticipated that the Company will complete and publish a Prospectus in the coming weeks to, amongst other things, enable the return of all shares due to Paul Griffiths and Lonny Baumgardner (including those loaned previously) before the rigless well testing programme commences in Guercif. Additional working capital will be required in the future to help accelerate a potential Compressed Natural Gas development.

An updated Competent Person's Report will be produced at the time of a Prospectus.”

RNS says prospectus and CPR before testing. I’d imagine that will get the price up a bit.