Member Info for middleEastMoney

Someone just emailed asking why I thought 85m thick pay of oil and not the company quoted 200m?

I was trying to limit everyone’s expectations, but hey, use 200m if you wish, it’s a BIG, no humongous amount of oil, someone used the term leviathan I believe.

Very shortly, the penny will drop here on what the possibilities really are, proven by good old drilling and testing, backed up by PG only using the best oil companies in the world like NuTech, he is slowly building an unassailable logical case of what we have.

Tick tock

MEM

MOU - 3 at last, things are developing. Oil and 35 sq km talked about, inc a CPR.

Do the math on a net zone of approx 85m thick lake of oil, impressive possible OIP No.

Things are getting very interesting, over a compressed timescale I suspect.

MEM

Hi Cube,

Do you feel like putting your neck on the line and indicate what you think we might/likely find on our license, Gas and Oil.

Happy Xmas to you too, by Xmas we should know a lot more.

MEM

Hi Trifle, in that case why would any rational CEO state a timeframe for delivery ?

Be far better to under promise and over deliver

Nm

Sbrons, have you studied the latest presentation???

You will find estimates of timelines there

I am being completely reasonable. DYOR and look at our Licenses and actual/probable assets… the devil is in the detail.

It’s all there in plain sight, join the dots

Someone suggested selling at £8.70 the other day, I would respectfully suggest that is far too early in the ‘creaming cycle’ if you wish to maximize gains.

Take a good hard look at our assets in Morocco and IRL, at £8.70 this equates to a M/Cap of under £4 billion, I am expecting our M/Cap to peak at a far higher figure.

For now, watch and wait.

RNS very very soon, hopefully tomorrow

MEM

MOU - 1 = current discovery.

However with imminent drilling and then testing of both MOU - 1 and 2/4 we are very close to big news.

I was hoping for an operational news update last week re Morocco, hopefully any day news is due, spud, drilling (quite quick drill timetable) and testing.

Let us see where this news takes us, on balance this seems a sensible step as we seek clarity on the accounts, mitigation of past mistakes and how to proceed now.

Still active when the bid reaches 7.5p vs placing price, whilst we await the allusive RNS of pad completion/rig mobilised.

MEM

Too little, too late. The ‘plan’ of pretending everything is golden in IRL will unravel with the first cold snap.

IRL politicians are disengaged from reality, its all about them, keeping their jobs, rather than what is good for IRL long term future.

The UKR war has brought forward what is wrong with IRL, but still they pretend everything is OK.

The writing has been on the wall for 3 years +

The penny will drop, but then what, nothing can or will happen overnight.

It would make a great scene for Fawlty Towers, if it were not so sad.

Placing flippers

For the love of God and Country just don’t do it !!!!!!!!!!!!

Stroke your whippet instead, whilst sitting fully clothed in your wellies drinking a cup of builders tea

Bob, I now need the services of a top flight Counsellor to remove the very nasty thought of you standing in your allotment, wearing just your flat cap, whilst eating your semi transparent speedos, for god sake DO NOT post a video.

MEM

This first ‘Teacup’ is probably over 1 Tcf, the bigger question is how many teacups are there……. In the smaller area of our license, and then the larger area

Good morning Keith, you are the perfect example of what I have been stating for years, we have to think like a CEO, proactivity in our thought process, what are we trying to achieve and options facing us in order to rationalise a decision.

I think you are spot on.

News this week, possibly more than some folk might be expecting.

We are on the very cusp

MEM

Given the likely OIP figure, talk of a 10% recovery factor seems incredibly low, given new and evolving technology. I suspect in time we will see a figure closer to 40% of circa 1.7 billion or 680 million barrels.

Ascribing $5-$8 per barrel in the ground for this new discovery calculates approx $4 billion.

Divided by circa 270m shares and utilizing an approx CX rate of $1.20 = 1 GBP

Approx SP just for the new find = approx £9

Give this time to move forward, prove up volumes by drilling and testing and by Easter we should be well on the way.

Porters ‘my agenda’

Are you another idiot that thinks my remarks can change the price !!!!

MK111 as in I am not going to justify my position anymore after that comment.

I am not going to bother replying to anyone else. A lot of you are like sheep, not much original thought.

MEM

Porters, I hold many millions of shares in PRD, for the last time, I am not going to justify my position to you or anyone else.

Could things have been done differently by PG, yes, have I voiced my concerns ? Yes.

But I still hold a significant share holding.

It is healthy to ask, challenge, seek others ideas and not simply sit like a lemon.

I want PRD to prosper, if I ask difficult questions….. that is healthy debate.

MEM