The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
At last, sensible, balanced comment. Thank you HMatt
Patience is all that is required, TIMING IS KEY.
I have held these shares for 4 1/2 years, another day or week matters not a jot.
I strongly suspect the next RNS will layout our future plans, payments and yes we can then join the dots etc
1m buys vs 96,000 sells - the narrative is about to change
MEM
I suspect the deal whenever it is announced will be far more complex/far reaching than some might assume.
There is the gas, how much gas ??
Different pricing structures for CNG, G2P, G2 EUR, have we found 8Tcf, 19Tcf or 30Tcf ??
Will the new owners of our license be interested in the OIL ?
Stub equity/time frames etc
Defining every possible contingency/combination will take time to negotiate back and forth with the corporate Lawyers.
Complex !!
Interesting that Malcy states PG said they were testing, yet we found out via RNS they were not testing….. smoke and mirrors.
Patience will be rewarded
Has changed to GRH2 - I am pretty sure that is 2% ie GRH now holds 2% of issued stock or approx 11m shares. Jolly nice number to own.
Well done
I would add after successful testing, a much larger off-take deal for G2P and G2EUR, with possible outline of payments, not too detailed on the exact payments due commercial sensitivities, but enough to get a sense of what we will achieve as SH’s, tied in with a very detailed Stub equity partnership, timescales, payment triggers on reaching certain goals.
Further planned timescales for drilling of MOU - 5 and possibly MOU - 6, plus the first detailed plans re the oil on our license.
The above might all come prior to Xmas, in separate RNS.
Wait and see, but we are very close to journeys end, however the real story in unfolding day by day, right in front of us.
Interesting article re big oil
Now might be an opportune time to respectfully point interested parties back to my non linear valuation I posted sometime ago, and adjust the figures for the new total number of shares and warrants.
Keith, as ever, thank you for your contributions.
Have a peaceful weekend everybody.
Sandy, nothing more on topic than Remembrance Day
Have a SAFE & PEACEFUL weekend
MEM
Jimmy, good morning, but surely we must test to correlate exactly what we have across our drills.
Why put off testing ?
MOU 2 re-entry ?
The equipment to test will be required elsewhere soon !! Or will cost us more cash than necessary to keep idle
TEST !
Point 2, bigger boys arrived, our gas/oil is ever more valuable as a strategic asset, anyone expected to pay top dollar for any part of our Moroccan license will want assurances or a clause in the HoT agreement re testing, ie pay so much now (a good will deposit) and the far larger balance/with stub equity after testing when we have proven quantities, flow rates etc.
That would make sense, a detailed RNS with these details would restore confidence.
If this is being discussed, I can understand yesterdays RNS
MEM
If you want the industry to take seriously, if you want suitors lined up to buy the gas, if you want the banks to come onboard, if you want the capital markets to fully understand what you have found, use the cash you raised from your SH and TEST.
A lot of broken promises, I have followed and invested in good faith.
PG & Lonny, step forward out of the shadows and TEST TEST TEST
Mk111, I am not sulking, I am raising some important issues.
Trust, transparency, communication are key drivers of any business.
I am worried PG’s brilliance as a geologist is blinding his abilities as a businessman.
Blind faith by SH often leads to disaster.
Questioning something is healthy debate.
I was reminded of JP/SOU this morning, I am not suggesting for one second that is what we have here, but it made me question myself for a few minutes.
Please put your rose tinted glasses back on, stick your head in the sand and block me :)
Vanman, your question, why hold back on testing ???
That is the biggest question
Bang for your buck, test, test, test. Prove up what we have, sell at a premium.
Why have we still not tested, first sand jet, now this ?
Remind me when MOU 1 testing was promulgated to begin - which we raised cash for……
PG had better come good after all this smoke and mirrors, otherwise his hoped for swan song will just be dust in the desert…….
There you have GRH’s view re Morocco, some folk are inbreeding on LSE, lord is that the sum of his thoughts.
The end does not justify the way SH are repeatedly treated.
PG’s fiefdom requires balance from you sir.
It is clear PG is a great geologist - sadly what is also crystal clear is PG is starting to treat his loyal SH in an arrogant manner.
I cannot speak for others, but this appalling behaviour towards SH must cease.
Please do not try and placate us with ‘commercial reasons, NDA’s etc.
What has just occurred is clearly wrong. You have a responsibility to reign in PG’s worst excesses.
Thank you.
MEM
I now expect another RNS stating agreement/HoT reached re off take agreement at $x amount, this will provide full clarity re a long term commercial contract.
CM I suspect is massive
As for the way PG conducts himself towards his loyal SH, yet again, we were left to assume.
The few of you voicing caution, we’re yet again correct.
You can never assume with PG until an RNS is published with something cast iron……
Ibiza if you check back through my posts you will see I have allowed for a non linear valuation depending upon how many Tcf we find.
Why ??? Because PRD or whomever buys us out cannot expect the same price per Bcf from a local end user vs G2P or G2EUR, volumes create discounts.
No one will be disappointed with the end valuation :)
Please find my previous post and adjust for the new total number of shares and warrants.
MEM
Old slow, not so quick to talk down values please, you are suggesting RF of 5% to 10% only, that would be hugely disingenuous, anywhere from 50% to 75-80% is more likely, given what know so far.
Any values people attach for the gas, you can double due to the vast quantities of oil on our acreage. If you allow $4-$7 per barrel valuation in the ground with modern day RF of circa 60%, you can start to see how value crystallisation will occur over the next few years.
MEM
Ps don’t forget PG statement that there are 9 similar targets across our license area that he knows of, plus the oil.
How many additional targets might a major discover ??
Known unknowns!
Hi Lancygeo, correct I have said 19Tcf for 2+ years, however recently I suggested in my latest forecast, we could and should start to think 30 Tcf was achievable, plus a corresponding amount of oil, but it would take more time to prove up, hence the reason stub equity in any sale is vital.
GRH has yet to come out publicly and spell out in clear language (not clouded in riddles) what figure he expects to reveal for gas or oil. Be brave GRH and give us an unambiguous figure.
What I do know is very few people are following the story in depth and detail, when the real story does the rounds I expect to see 5p increases per day in the SP, then 10-15p increases, all in about 2 weeks of the RNS that spells out flow rates and total amounts.
We are very very close
MEM