Member Info for Jonmo91

Zebra, I may be proved to be wrong but I think the MOU4 drill is time critical. From stuff Paul said on that Roast nightmare a deal is coming soon. He does the deal with or without that drill, he’s decided to go with it.

If we are still sitting here Christmas with no deal then fair enough.

I wouldn’t knock this latest raise. PG is in a rush to get as much drilled and tested. That says to me that a deal is highly likely relatively quickly after testing.

But there have been some shockingly timed placings along the way which have increased the dilution unnecessarily.

I do like the change in attitude and urgency in the last couple of months though.

As always time will tell.

GLA, as an aside, sorry to hear about your accident Caterham. I don’t fully understand the sand system and having someone top of that field remain invested can only be a positive thing.

“Once the MOU-4 drilling is complete, results from all the wells drilled in 2023 will be quickly assessed and compared and a comprehensive and expanded rigless testing programme will then commence during July."

We could get a spud RNS any day. Those shares will be churned through within days.

Would like to see a TR1. As far as I can remember there hasn’t been one other than management.

Literally every other message was about funding being needed. You can play the game like Nigel at 6p ish. He can buy back in today at a discounted 11.5p.

Drilling and testing was always going to be placings. I’d like to think anything to do with CNG, $5m or so would be dealt with a little more creatively.

Fully agree. A new prospectus and CPR isn’t to be overlooked either. Absolutely motoring along now. Funding sorted, MOU4 drilled followed by testing. I would like to have seen a bigger raise to get MOU2 finished but I think PG is looking to exit Morocco this year and maybe the juice isn’t worth the squeeze for the deal.

Those voting rights will change in a couple of weeks when the shares are issued 🙄

I suggest you read it again. A new prospectus will be issued in the coming weeks to allow the headroom for the additional 17.5 million shares. It’s a placing structured in a way to get around the current lack of headroom. The enlarged share capital is coming. This is not negative, you just don’t know what you’re taking about!

A raise was always coming and it was always going to be less than the current price. Almost double from a few weeks ago though but reduced risk. You pay your money you make your choice.

Those shares will be hitting the market at some point. It is a placing. A raise was always coming. After yesterdays price action it looked like 10p. Posters wanting to get in after the raise will save on yesterdays price but pay almost double from a few weeks ago.

Anything in double figures was a win. 10.5 p is great news.

Traders can’t see more than a day in front of them. PG has said he wants to sell Morocco. He is going from one drill to another. Value will be recognised when he sells it. There was always going to be a spike followed by a holding back pending finance. 20 years ago two months would be a short term hold, now it’s two days. If it sits here until testing so be it.

I’ve not seen institutional investors since I first bought. I am invested in another company where the raises have been at a premium to market price. What if new arrivals didn’t get their discount, albeit they could have bought in single figures a couple of weeks ago.

Agree with trifle!

Fully agree. They will have most if not all for mou4. I would raise $4m for testing, mou2, cng modelling and headroom. Had anyone said 4 wells drilled and tested by this summer with modelling for cng in place, under 500 million shares with the full 75% working interest, I’d have said no chance. To get to this position where PRD were at a year ago is remarkable.

I would raise enough for testing and nutting off MOU2. Even if MOU4 came up dry they’d then have three wells for the financial modelling for CNG.

It might not be a standard placing but given the timeframes I’d be surprised if it wasn’t. Relatively, it would not be a lot and would be value accretive.

If you get in early and wear the risks you get the rewards. In September people will wish they could have gotten in at 13p. Exciting times.

CNG they will. Drilling and testing within a month I see a standard placing. Nothing wrong with that. Anything double figures with the amount needed is a win.

PG is racing towards packaging something with a bow on for maximum price. I can’t see Morocco being on their books by Christmas.

They should have most of the money for mou4. Will need a raise for the remainder and testing. Fully expected and no one should complain about that. Thought I’d get in first before it becomes a negative angle on here.

Well happy with that. Thought they may go straight to MOU4 before testing. PRD are motoring along. Been a long time coming but I’m loving the direction and speed now.

I’d be happy just to know they hit TD after MOU2.