Member Info for Jonmo91

MMs will take it where the volume is. They are not second guessing RNS. They don’t need to.

The market is so bent it could just as easily be good news. Regardless of price movement/ramping/deramping, let’s wait to see what the results bring.

You may want to check that maths.

Yeah, can see through them. Most have disappeared now the price has settled funny enough. They’ll be back when we are in the TD window for MOU4.

CNG can only be worth so much due to the market and how much gas they can absorb. PG had stated several times he has no appetite for gas to power. Any potential acquirer will know that and have to fork out for the infrastructure. That’s if PRD hit the numbers. Can they hit the type of numbers from three wells that would warrant a £2.5billion sale. Highly likely they’d need more wells. Given the pace PG is going at a sale looks likely before they’ll have the chance to drill that many wells. When you say talk the price down, do you mean from todays price or £5?

I’d be more than happy if it went for that, can’t see it in the time they are seemingly looking to offload.

Should know more in a few weeks.

At £5 it wouldn’t be hostile!

that’s my take at the moment. however, if the offer isn’t what he wants, he’ll do the testing.

i don’t think pg will be greedy, but he won’t be had over being the largest shareholder.

this is with all other things being equal, onhym may be playing a part here. something or someone gave paul a kick up the **** after mou2.

You can only prove up so much before you need to start producing. I have no doubt they could finance the CNG facility. Single digit $millions would not be difficult to finance if the numbers come in. It’s a lot of work to that point. If PG gets the option of a royalty in exchange for advice and contacts via the subsidiary without ever putting his hands in his pockets again in Morocco, he’ll probably take it, he said as much on the Roast.

If he sells before flow testing he’ll get less as there’s more risk but the deal will be quicker. We don’t know what he has lined up.

Best long term deal would be a cash generative CNG business with cash flow to drill as many as they wanted.

The worst would have been selling to one of the chance enquiries he mentioned. He will likely settle (assuming the results are successful) somewhere in between. The sweetener will be the royalty, or stub equity that has been mentioned, initially a while ago, by GRH if I recall.

PG has stated that testing will take place on several occasions by the end of…… Given PG changes strategy and plans frequently, you can only evaluate his actions. It looks like something happened at MOU3 that made him think he will get more bang for his buck by going straight onto MOU4 than testing MOU1 and 3 with those funds or timeframes.

They might need funding for the testing which might be tidier to raise after MOU4. I know they said it was previously funded but funds have been moved to speed up the drilling by the looks of it.

PG also mentioned on the Roast that testing wasn’t as important as people thought. He might have a deal lined up that gets what he wants after initial results from Nutech.

They can’t go hostile for just one aspect of the company unless they are in ONHYMs ear and pressure is applied. If it goes in a hostile takeover T and T and Ireland will go with it, which currently the market attributes little or nothing.

Talk of hostility and special dividends, see what the logs come back with and the updated CPR. Then there’s the flow testing, and CNG modelling, if we get that far.

As you say it’s being absorbed pretty well. I expected a TR1 this week. I can’t see it all being PI taking the load.

What is the penalty for not declaring, loss of voting rights?

I know foreign investors have longer to declare and it doesn’t really matter as results will drive this. Just a discussion point while it’s quiet.

Won’t PRD need 10’s of more drills to prove up anywhere near those numbers? It might well turn out to be huge but I’m not sure PRD will be there to see it. Maybe in the form of the royalty PG mentioned.

Anyone know how deep the star valley rig is rated to?

Sefton, I was initially worried that PG could retain most for T and T and Ireland and a decision would need to be made whether or when to sell. The indications are any Morocco deal will be too big to keep on the book so the likelihood is enough will come back to shareholders in some form. Happy days if it comes off.

Something changed PG’s speed from tortoise to hare in the last few months. Maybe ONHYM have had a word.

Paul’s comment on the Roast about testing not being as important as people think. Is it possible if the logging is sufficient to get a deal in the timeframe he wants, he may forgo the testing and we could see a deal quicker than we think?

He also said he would like to get the financial modelling done for CNG in which case he would do the testing. The further he takes it the more he’ll get. How far will he take it? Best value would be to get CNG at production with free cash flow to carry on drilling. I don’t think he has the appetite for that with time and cost. Exciting times whatever happens.

It’ll be carnage. Everyone will sell down to the threshold just before the deadline kicks in.

Could they change what’s already in there or only new deposits?