Member Info for KeithOz

May I add my condolences to your loss, the circumstances must be particularly distressing. I am aware through PMs from other members, that they have also recently experienced a death in the close family - a reminder to all of us that there are more important things than money, and also that you should try not to be unpleasant to folks here that you do not know, you have no idea what they are going through, and an unkind word could be the last straw.

@Fordy - the original idea was to test just sufficient intervals to demonstrate commerciality, which you can take as 5 - 10mmcfg/d. You are quite correct this is very much an expansion from that. I would expect that if you are doing that amount of testing, it makes sense to test all the intervals suggested by Nutech - there will be a large element of fixed costs just having the CTU, sandjet equipment & specialist team all available, so if you now have the extra funds, it makes sense to go for the lot. You then have good data for additional customers who will wish to avail themselves of the remaining 200+ mmcfg/d that I am expecting.

@Cattleman - I said yesterday "34mmcfg/d at $10 profit per mcf = $120M (£96M) profit per year. So a forward P/E of less than 1. Just for this one moderate-sized project." That is assuming an industry (very likely ceramics) customer. For a G2P customer, who are more likely to be able to utilise a large volume of gas, think $7 profit per mcf, which gives $87M (£67M), which is still comfortably more than the current £53M market cap.

Paul may not get everything right, but he is no-one's fool. Remember he is also a large shareholder, even if currently he is unable to do anything with his loaned shares until after the issue of a Prospectus, he is still affected by dilution. He would only agree to a raise now, rather than in say 2-3 weeks' time after CPR/Prospectus, if there was a very important reason to do so.

The last RNSs suggested to me that there is a contract with a single purchaser of 34mmcfg/d (a curiously precise number) all ready to go, but as I said yesterday, because of take-or-pay & supply-or-pay clauses, no one is going to sign it until that flow rate is proven from at least two, preferably three, wells.

In order to prevent an opportunistic hostile bid (which I still consider to have been a reality before this raise) it would be opportune to have CPR, flow test results & gas sales agreement all released about the same time. This raise enables two of those issues to be addressed in short order, coinciding with CPR/Prospectus approval later this month.

I would assume that the additional £3M will be used for other urgent issues, that includes £1M for Cory Moruga by the end of the month. Further drilling - of the MOU-Fan as previously intimated, and of JUR-1, can wait for a month, since they will likely be financed from cash coming in as a pre-purchase of gas, RBL, or another raise at a very substantially higher share price. Further drilling is not on the critical path for either moving towards revenue, nor for defence.

I'm sure others will have a different interpretation, but I see a very busy August ahead.

There are none so blind as those who will not see.

There are some on here who owe GRH an apology after their veiled accusations over the last few days. Of course, nothing will be forthcoming, since it is those same people who are exactly part of the problem.

Anyway, looking forward, at least 30M shares traded in the first two hours. With a proportion of the placing hopefully in firm hands, the supply of cheap shares should run out shortly, and we can start to return to normality, with plenty of transformative news over the next two months.

@Knowles. I don't think you quite understand the process. Paul & Lonny sold the shares, and the proceeds was used to fund MOU-4, so they have done you a big favour. The agreement is that they just get the shares back - no money changes hands. The only thing stinking is your false allegation of underhand dealing.

@Fart123. With 5 negative posts in less than an hour, can you confirm that either 1/ You have decided to sell your entire HE1 holding, or 2/ You don't have any shares, and are trying to talk the price down in order to get back in.

@Edark, if you really were a HNWI, you would know how to be on the list. Clue - it's not by emailing the Company's PR outfit.

Exactly why I suggested JUR- it's the target formation, also connotations of Jurassic Park, so still dinosauric.

Things that I would like to see -

* TR1 from a decent II

* Interview with Paul detailing how the cash will be spent

* Details on an offtake agreement

* Some timetable

* JUR-1 (my suggested name, TIT-1 could be offensive to some) to be drilled with the extra £3M.

£10M is pretty good, will get a lot of stuff done with that, shame about the price. No mention of who the new II's might be.

I've woken up, digested the RNS & read everyone's comments. May I add my thoughts?

* The poor start price for the auction process, and the share price manipulation over the preceding days, is a reflection on the way the London market works, not on Predator or Paul. Hardly surprising that fewer and fewer companies are choosing to list in London. Other exchanges suspend trading, then start negotiations for a capital raise, thus benefitting all shareholders, not just a small group of wealthy individuals. In short, imo London is bent.

* Novum is joint broker with Fox-Davies. Novum is a bucket shop, but FDC are definitely not, hopefully the auction price and volume to be announced (presumably at 7.00am on Tuesday) will not be just £7M at 11p.

* Paul is obviously in a hurry. I understand Prospectus approval can take time, but why not issue the CPR in advance of the placing in order to minimise dilution?

* There is not one single buyer of the placing shares - read the RNS properly, there is one single buyer of 34mmcfg/d.

* Presumably this gas buyer is the one Paul has previously mentioned, which is the same ceramics company whose premises appeared in the Moroccan video about Predator a month ago. I expect that contracts are sitting ready to sign, but include both 'take or pay' and 'supply or pay' clauses - this means both sides have to be 100% sure of likely flow rates, hence the now urgent need for more comprehensive flow testing.

* An 'extended' testing programme is being carried out - this will be necessary to fully evaluate the most cost-effective way to flow the larger 34mm figure - recall that previously PRD had talked about testing to underline a commercial operation, which would only be 5 - 10mmcfg/d. More horizons from all three producer wells will be tested - this will cost a lot more than originally envisaged.

* 34mmcfg/d at $10 profit per mcf = $120M (£96M) profit per year. So a forward P/E of less than 1. Just for this one moderate-sized project.

* No mention of further drilling of MOU-NE, so presumably the plan is to focus on starting cashflow from the immediate opportunity presented by purchase of output from the MOU-Fan wells asap, after that, all things become possible. imo this is a sensible strategy- escape the need for bent London cash raises and gain full control of your operation.

* A return to a share price more representative of the actual prospects will result once the CPR, flow testing, and gas sales agreement are all released - I assume this will all be finalised by the end of September (less than 9 weeks away) or perhaps sooner.

* Yes, a pita if you had just bought at 21p, or a trader on the wrong side of the fence, but the upside is still the same, and things are continuing to progress towards that at impressive speed.

So, he clearly has no qualifications, and very limited experience, certainly none of working in a listed company. Why would anyone in their right mind trust such a person with their money. I guess the 'one born every minute' applies.

@Kasjnaton - I stand corrected re. Sound, only went back through 5 years of announcements. OK, we need to test asap, since judging by Sound's example we will have to wait a further seven years before a flow test results in a commercial agreement.

Interesting though, that one of the folks on here who has been most strident about testing, has also stated that he was happy with his holding in CHAR. I am quite certain that neither of their wells has ever been tested.

If we are to believe some on here, immediate flow testing is absolutely vital in order to prove any chance of commerciality, and the failure to have already done so is a clear indicator of absence of commercial gas on the Guercif licence. This is despite that Predator management, and many here, have clearly stated the reasons why they have not yet done so.

I can't help but notice that our Morocco cousins, Sound & Chariot, have both announced infrastructure investment and gas offtake agreements.

Neither have performed flow testing.

May I repeat the message from Paul to these 'armchair geologists' : "If you haven't got 40 years in the industry, haven't got 27 years experience drilling wells, and haven't got 16 years experience in Moroccan subsurface, how the hell can you compete with us in understanding what is there? Please don't, because it's insulting to management, insulting to the people who have spent a huge amount of time getting these wells drilled quickly & efficiently".

Not sure why lse reformatted all my capitals to lower case. Also deleted my link which is oilmanjim$blogspot$com forward slash p forward slash about-me$html. where $ is a dot.

a few years back i noticed that the uk investment trust international biotechnology trust was making most of its money by investing in small biotech companies a few weeks to months before they were due to release important clinical trial results, and then selling out before those results were published. although they missed out on the occasional blockbuster announcement, they consistently made money on the ramp up in share prices ahead of results, whether they ended up being (occasionally) winners or (frequently) losers. at the time, pre-crypto mania, there was plenty of loose speculative money looking for the next sure thing. suppose the same strategy could be applied to the o & g industry, another binary outcomes scenario?

i could have set up a newsletter, calling myself something like greasemonkeyjoe, put a picture of a well-known film star on the front page, and recommended small, volatile oilers with upcoming drills. of course, i would invest first for myself, then get all the numpties on board to help ramp up the price. i would then sell out just before announcement date, then advise the numpties to do the same the next day. everybody would make money - me more so than my subscribers of course, plus i would rake in subscriptions. i would add credibility by writing up an uncheckable biography, including vague phrases such as "i studied at university in london and, since then, i've been all over the world" (which university?

what course? did you even get a qualification? all over the world doing what?) and "i have been a director of several oil and gas companies" (really? - why not name them? did they actually do any exploration? what did they achieve?) and "i am very familiar with the process of acquiring seismic, then drilling, completing and placing into production oil and gas wells" (what actual experience do you have of this, or is it just that you can use google?) and "i have thousands of subscribers". sounds like unbelievable rubbish - of course, see:

http://**********************/p/about-me.html

then when times get tough, with no cheap money sloshing around, the idea stops working - there are no pre-results runups, and i have to get help from some real or imaginary friends to go on the chat boards and bolster up my ramping / de-ramping activity in order to create some share price movement upon which my scheme depends. that is where we are today. is it legal? maybe, but maybe fraudulent. i'm sure the fca could look at the pattern of recommendations and personal trading. is it moral? - certainly not. what can you do about it? start by filtering all the greasemonkeyjoe real and imaginary friends. this is not stifling free debate, as they claim - the key distinguishing common features of all their posts is that they provide no factual information, no positive insights into a company or its operations, and are insulting and offensive towards all those who see through their scheme.

do not be misled.

Https://www.atalayar.com/en/articulo/economy-and-business/possible-gas-fired-power-conversion-project-in-morocco/20230724122902188647.amp.html

They erroneously state that the Moulouya project is offshore, despite showing a picture of the location without a wave in sight - probably just a translation issue.

Meant to add that just because one particular subject is being discussed under a CDA does not make one an 'insider'. Not even sure by what MEM means by that - presumably someone who has full knowledge of the workings of the company, which would normally be only the Board of Directors, membership of which is required to be disclosed.

Jeez, what tawdry reading this makes for over breakfast, I can't believe you are still discussing who is or isn't in the closet.

Suppose I entered into discussions with PGVM to supply the drilling crew with frozen dinosaur popsicles, a highly competitive business, since I have data to prove that their regular consumption increases drilling efficiency. We would sign a confidentiality (non-disclosure) agreement, as happens for ALL private commercial discussions. Every such agreement I have ever signed contains a clause with wording similar to this "Neither KeithOz Pty Ltd nor PGVM will disclose to third parties that these discussions are ongoing, except as required by law". There will also be a time period, usually five years, for which the matters discussed must remain confidential.

Quite apart from any legal issue, it is absolutely none of your f-ing business as to what agreements someone posting on this board has or has not entered into. If you feel such disclosure is so important, why are you not asking all the trolls to disclose their employment arrangements?