Member Info for middleEastMoney

BTW $150m net 50% to PRD =approx 8p on the SP

My own thoughts are maybe $150m with additional contingent payments based on performance and pricing.

Makeabundle, I am not converting 1 TCF of gas to oil.

I am saying the rule of thumb is for every 1 TCF of gas you find means you should discover approximately 1 billion barrels of oil

I bought a small amount as the X photos published

Nothing untoward

I think he said he had sold PART of his large holding - too busy to go and look at what he said.

He, like everyone else, GRH has to protect his investment.

If it is proven that we have found oil and approx 30m thick (100 foot) that is a very good result, but we need to figure out the area/thickness to calculate possible volume and apply a RF.

The SP recovered somewhat as PG published those rather telling images.

If the Gas is up dip (Normally where there is oil there is gas not far away, this adds to the evidence that there should be gas, remember approx 1 Tcf willl mean approx 1 billion bls of oil)

Yes this is taking a long time to prove up, if IRL SA is announced and close to initial flow rates from T&T I can see a strong bounce to 20p+

Add a full meat on the bones technical update re MOU-5, then PG finds a partner and I can see 30p+ with all to play for.

TIME as always is the unknown.

Someone asked if I am still in, YES but not to the same exposure.

Is a very random system, GRH intimated he had access to HSSI, making an investment based solely on 2D is not the way forward.

Most here will have made investment decisions because of PG’s KNOWLEDGE AND EXPERIENCE.

To move forward the cuttings will have to have been sent to NuTech in the USA, this will take time.

We must all wait for a RNS detailing exactly what we have found, it is entirely possible we have found a thick column of oil.

We might have to drill again to find the gas/MOU-6

Let’s all wait for that next RNS, in the meantime we have our maiden income from T&T plus update and IRL news, both will support/boost M/Cap

All to play for

Yes i have bought some at 18p, lost another fortune

Smacks of panic.

I strongly believe some (not all) of the current situation could have been avoided. If the price of doing business with Morocco is the imploding SP, that cost is too high and leaves PRD vulnerable to a takeover, and leaves long term, loyal SH massively out of pocket.

Lonny’s departure still worries me, I suspect a clash of personalities

Final word, just look at a 5 year graph of SP or M/Cap, the SP has been eroded year after year, still waiting for testing on various drills, still waiting for MOU-2 update. Who is responsible ?

Mondays RNS stated drilled/completed MOU-5 on budget, 4 days later, MOU-5 drilled under budget…….with emphasis/focus on increasing production in T&T.

I am out until such time as we the very long suffering SH actually get full disclosure on just what is going on.

IF we have in fact found vast reserves of gas there will be ample opportunity to buy back in, yes at a higher price, but I would rather do that than be exposed to the current situation, which has been ongoing for almost 6 years.

Good luck to SH with more patience than myself.

Some useful, some vitriolic bile, can I respectfully suggest we all wait for another MOU-5 RNS where we should obtain NuTech analysis and only then will we be in a position to take a balanced/measured view.

A robust positive RNS giving gas/Helium results, possible GIP etc is what I want to see.

Until then we know very little.

Good luck LTH.

As for GRH, like everyone else on here, we should all make decisions to our own personal position, after our own DD.

Good luck to GRH, he may well buy back once we get that next RNS…..

MEM

Agreed

That could be our Ozzie friends dumping more

Principal i respectfully suggest you please wait for further analysis from NuTech

PG’s hand forced

Doubters might ask why would Paul set himself up by mentioning a Farm in? I suspect he already knows he has this up his wizards sleeve.

Let’s wait for NuTech analysis re Gas and Helium, I suspect a series of positive RNS’s and an interview where PG might elaborate on the icing on the cake which is Helium, hugely valuable.

A Corporate deal will define the values, then we will see the SP react in a positive way.

Perhaps the question we should ponder is how much say 250 km sq will 3D cost vs how much of the license area or part of MOU 5 area, we will have to handover.

All to play for

I respectfully suggest we all wait for NuTechs interpretation and the exact details

I’m unable to copy it, but talk of a Casablanca listing for SOU & PRD.

I’ve always wondered if we might pursue a NY Listing as both Morocco and T&T would be a good fit.

Interesting times

Dicko80 you missed out the other piece of the jigsaw…. PG has 8 similar targets across our license

Yup 8, now imagine say 1,500 sq km average 200 m thick, do the math, the POSSIBLE gas in place COULD be gigantic, off the scale and PRD own 75% with zero debt.

Plus POSSIBLE helium and oil.

Has anyone looked at our license with a view on Phosphate extraction, I know Morocco has a vast amount?

Good morning BRV, THANKS for the very useful info/reminder.

If one assumes we might have 6Tcf of Gas and therefore possibly up to 6 billion barrels of oil (RF say 70%) and assume $5 per barrel in the ground valuation, assuming 700m shares in issue, that equates to 2300p value per share.

Please note the words ‘might’ & ‘possibly’ used.

That excludes the value in the gas !

As the pieces of the jigsaw fall in to place with each drill/RNS sooner or later people will wake up to the gigantic possibility that what PG has known for many years is playing out in real time and slowly revealing itself.

GRH might prove to be too pessimistic in his 1000 bagger, it might be substantially more :)

DYOR GLA

Thanks again BRV, GRH & Seabright and all the other great posters

MEM