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You will know when the placing shares are gone when there is nothing to buy over 12p that appears to be where they start selling. Nothing to buy just now because they want to make a decent profit.

You

Chesh

they cannot get debt funding without a confirmed resource which htey need a flow test for so they could not explore debt options.

Right I am leaving this chat I have work to do and I am not learning anything new. I have my views on this and know what I am doing regards my money invested here nothing said so far ahs changed it.

Repelling a bid based on MOU 1 would not have been hard I suggest even if one came. Paul did very well repelling lowball offers when he opened the data room lately to get bids. I assume he did get unofficial offers as there was no actual RNS of a bid as he did insinuate there had been approaches and I expect there were.

Bids are easier to repel when you hold a lot of equity which Paul now has a lot less off though. I dont think a hostile bid for a CNG development of MOU1 was going to happen personally.

If the numbers for the gas that is in the ground are anywhere near the estimates suggested any debt would be paid of rapidly as it is we have dilution and our shares are worth less now as a consequence. Even if the numbers are proven up we will have a smaller part of the pie. Look at the dilution Paul has taken, why do that if there is definitely commercial gas there? To me it makes no sense never has.

By not showing their hand we have had massive dilution. If they still wanted to dilute the SP instead of debt fund the SP would have been higher so less dilution. The logic of a 'Royal Flush' does not make sense from any angle.

The ceramics industry is desperate for gas they constantly harass Lonnie and Paul for when they can get cheap Moroccan gas, remember Paul said they will sell it at a fair and sustainable rate so the buyers will provide funding happily. Add in the simple fact if you have gas to sell a loan from a bank is very easy. Once gas is proven debt funding is possible. The question I would ask is why did we not get debt funding earlier by proving up the gas.

You will need shares in PRD to receive any benefit from the royalties. Money will be paid to PRD as an annual fee based on how much gas is produced possibly or could be another metric, whatever the metric is it will be converted to an annual income. PRD will decide what to do with the cash e.g. give as a dividend to shareholders, reinvest in another venture etc.

Shell are onshore, and offshore, T&T and make life difficult for any other operator there from what I can see, they may buy out PRD if they develop the asset but I cant see it being a good price. T&T really is a banana republic and I cannot see the value personally, try reading elsewhere about the epic time its taken TXP just to hook up a gas pipeline. I will not be hanging about here after Morocco I don't need the grief.

Having been invested with TXP in T&T for a couple of years I would say forget about T&T for at least 5 years, progress there is hampered by with politics and workers both off which seem to be so slow that progress seems to go backwards daily. The delay in T&T for PRD was because ' completion of the transaction was conditional on consent of the Trinidadian Ministry of Energy and Energy Industries ("MEEI")' so already you can see the issue.

The politics are borderline communist where they local politicians expect companies to give most of what they make to the authorities who duly squander it on their own little pointless projects. It should also be noted brown envelopes are popular purchases in stationary outlets.

Apart from that its great.

Flippers wont flip at a loss they are not that desperate they will sell on the bounce. Others are selling. That's the confusing bit.

A share always tends back to the raise price before rising again. Some mentioned that when the raise happened and they were proven true. My reason for buying today was to try and catch the bottom but it seems soft so did not go full bore. Its like gaps in SP charts they have an odd habit of filling no matter how far a SP goes away from it up or down.

Can you guarantee all who bought that wanted to sell at 11p are out? Seems to me you are guessing. As I said any that want to sell will not be selling just now.

If the flippers are out why no rise? Baffled why its sticking at this level would have expected those that wanted to buy at 11p would be piling in now. I bought a few this morning but reticent about buying more as it could drift more.

Not sure I agree the churn is over. Anyone who bought in the 11p fund raise and still has some will not be selling at these levels they will wait for price to rise. They bought to make a profit after all.

So more dilution then.

The shares were sold and proceeds were loaned on the basis that the shares sold would be returned. Those shares need to be created or bought.

So part of the fundraise includes the new shares for them?

Not drill flow test results need my coffee.

Anyone have an idea when the 18 million shares that are owed to Lonny and Paul are going to be bought, or even have the money raised to buy them? Would have been an opportune time at 11p fundraise I suggest since they were sold at 10.5p it would save a lot of cash. Seems to have been forgotten in the rush to raise for testing and if the share price rises as expected on successful drill results that could be expensive.