Member Info for Lancygeo

From ChatGPT.

A Regulatory News Service (RNS) announcement on releasing holdings is required to keep the market informed when there are changes in significant holdings of a company’s shares. In the UK, these disclosures are governed by the Disclosure Guidance and Transparency Rules (DTR), primarily managed by the Financial Conduct Authority (FCA). Key rules for RNS announcements on holdings include:

1. Threshold Disclosure Requirements: Shareholders must notify a company when their ownership crosses certain thresholds. In the UK, these thresholds typically begin at 3% and increase in increments of 1%, up to 100%. This applies to both increases and decreases in holdings.

2. Timeliness: Notifications of crossing these thresholds must be disclosed without delay—usually within two business days of the change.

3. Content of Disclosure: The RNS announcement should include:

• The percentage of voting rights held after the change

• The date of the transaction or threshold crossing

• The type of transaction (e.g., acquisition, disposal)

• The name of the shareholder and any related entities

4. Issuer Responsibilities: Once notified, the issuer (company) is required to make an RNS announcement to the market as soon as possible. This keeps all market participants informed about significant ownership changes that could impact stock price or company control.

5. Other Relevant Disclosures: For certain securities, such as derivatives, contracts for difference, and voting rights held indirectly, companies and investors may also be required to disclose changes in line with DTR regulations.

By ensuring prompt, clear, and complete disclosures of holdings, these RNS rules help maintain transparency and investor confidence in the market.

Just reading back through a few posts from our most respected posters and came across the one below from Keith. The post includes Keith’s thoughts following the recent placing…. well worth another read imho. 😊

‘ I have more productive things to do with my time than trawl through 10+ pages of negativity, so probably some of what I will write has already been covered by others. Here's my thoughts to ignore or laugh at:

❎I don't like discounted placings that dilute my holding, and I don't like Novum doing them.

✅I am happy that this has gone to a single institutional investor:

✳️ This is very likely to be a Moroccan entity who can open doors

✳️They will have done extensive due diligence before putting down their money, so they (who effectively have inside knowledge) believe in the project, unlike some here who do not believe, and have very little knowledge.

✳️The share price is not likely to continue declining due to placing flippers as often happens.

✳️ They have effectively bought a 12.5% stake at 6.5p, with £3.2M to come from options exercise.

✅Paul has not lied about finances, as some here have wrongly stated. Finishing the MOU-3 testing programme as previously announced, drilling MOU-5, and workovers for 2 C-M wells were all covered by existing funds.

✅The funds raised yesterday are for additional work - ffs read the bloody RNS before sounding off.

✳️The shallow, high pressure section of MOU-3 was not on the original testing programme - indeed it was clearly stated to be an additional, possibly standalone, CNG project - with extent of 58km²

✳️If you are going to be serious about finding He, it makes sense to use multiple exploration techniques.

✳️Also sensible to look at Jurassic carbonate structure further appraisal with MOU-6, so you can follow on quickly.

✳️Irish General Election likely to be called for Friday November 29th, Greens will not be part of government, an expedited Corrib South approval probable early Q1, so best to be prepared to move immediately.

✳️The T&T acquisition looks very cheap, and lays the foundation for expanding a profitable business that will not require much management time. It will be nice to have some money coming in for a change. Dissemination of the CO2 EOR work should help to drum up some extra business that can be run as a separate services operation.

✳️The opportunity in Tunisia could be very large. I would prefer PRD to get at least one operation sold off before spreading management time more thinly, but assume this outlay gets a foot in the door without the need for further expenditure or operations until at least the back end of 2025, so hopefully this will not be a problem.’

Https://x.com/GrahamHengland/status/1854799733337842087

When the celebrations were held at Shaikan

The oil was described as 'unmeasurable'

That was by Adnan Samarrai🙏

In his formal government position within KRG

ROB's revealing post then followed on 20 December

“Drill baby drill’

https://x.com/lonny1971/status/1854671113697055046

Chistlehurst…. thank you for getting back to the matter in hand… a good post too.

Suggest we all stay on topic and wait the return of our other quality posters. 😊

From ChatGPT.

A Regulatory News Service (RNS) announcement on releasing holdings is required to keep the market informed when there are changes in significant holdings of a company’s shares. In the UK, these disclosures are governed by the Disclosure Guidance and Transparency Rules (DTR), primarily managed by the Financial Conduct Authority (FCA). Key rules for RNS announcements on holdings include:

1. Threshold Disclosure Requirements: Shareholders must notify a company when their ownership crosses certain thresholds. In the UK, these thresholds typically begin at 3% and increase in increments of 1%, up to 100%. This applies to both increases and decreases in holdings.

2. Timeliness: Notifications of crossing these thresholds must be disclosed without delay—usually within two business days of the change.

3. Content of Disclosure: The RNS announcement should include:

• The percentage of voting rights held after the change

• The date of the transaction or threshold crossing

• The type of transaction (e.g., acquisition, disposal)

• The name of the shareholder and any related entities

4. Issuer Responsibilities: Once notified, the issuer (company) is required to make an RNS announcement to the market as soon as possible. This keeps all market participants informed about significant ownership changes that could impact stock price or company control.

5. Other Relevant Disclosures: For certain securities, such as derivatives, contracts for difference, and voting rights held indirectly, companies and investors may also be required to disclose changes in line with DTR regulations.

By ensuring prompt, clear, and complete disclosures of holdings, these RNS rules help maintain transparency and investor confidence in the market.

Https://x.com/GrahamHengland/status/1853539703703666878

What #PRD was fully funded for

Is not the same as per today's placing RNS

Gear change⚙️⚙️⚙️⚙️⚙️⚙️

Whilst we wait for further news on the swabbing unit I thought I would repost Keith’s excellent post from just a few days ago.

‘@HawaytheRRE gets the geology Professor Emeritus award for today. The only thing I would add is that there are two issues with MOU-3. One is formation damage, due to the interaction of the unusual strata with the wrong drilling mud. Paul was quite clear in the interview that his has been successfully overcome with Sandjet. The second (current) MOU-3 issue is water influx, together with fine mud particles. The pressure exerted by the weight of this 1.5km column of yuck is greater than the gas pressure in the reservoir strata. This is quite a common problem, with many wells requiring swabbing - the swabbing unit was described amusingly by a fellow shareholder as a bucket on a very long piece of string.

MOU-5 is a shallow drill, and is very unlikely to intersect the volcanic ash and expanding clay sequences seen in the other boreholes. The Jurassic is unusually close to the surface and overlain by a completely different rock type. I can't guarantee that a gas/water contact will not be intersected - that would allow water entry which would need to be removed by the same swabbing unit as for MOU-3. The other potential flow problem with carbonates is caused by a cement-like coating to the inside of the borehole caused by drill friction - this is usually readily resolved with an acid wash.

I would also expect that advice will be given by both John Tingas and Zenith on overall borehole design & engineering, drilling mud, etc. I repeat that my own intentions are not to sell any PRD shares until either PG sells them for me by corporate action, or until there are at least 4 holes poked into MOU-5. Of course, others will have different strategies.‘

It’s a hold all day from here imho …. simples 😊

Oldslow…. would that be £1.48 per tcf ? 😊

All the best Tesla for the future…. you will be sorely missed.

See what Keith makes of it 👍

GoldBlend….. excellent stuff …. Many thanks for the info. 😊

The outlook remains the same imho…. I will wait, in the meanwhile I will filter those who are not invested as they have nothing to offer of any value… nothing has changed imho… long and strong will win the day of that I am certain 😊

Bob…. best post of the day by a country mile 👍

Hampshireless….. I’m so sorry to hear your sad news.

May god bless you and all your loved ones. 🙏

Excellent summary Keith ….. many thanks 😊

As any lth would say… ‘I can wait’.

‘Irish wind’ ….. indeed

Https://x.com/EamonRyan/status/1846226555950796809

😂

Rambo… agreed, just filter them.

Tiresome.