Member Info for middleEastMoney

The evidence is gathering about what our license could/should hold both Gas and Oil. Gas in parts under very high pressure.

You only have to look at what has been found in the same geology to realise we probably are sitting on something substantial, possibly a sweet spot.

Someone pointed out the recent massive gas field offshore Israel of 22 Tcf to stop and think what is possible in PRD.

But much lower costs!!

You can read it here

https://www.thisismoney.co.uk/money/markets/article-6355935/amp/Builder-wife-hit-38m-jackpot-making-slick-gamble-North-Sea-oil-firm.html

Good chance one or two holders might exceed that here

Hi A, that is a fair, balanced viewpoint, but hopefully anyone conducting their DD will have looked at the Co history, background, date of listing on the LSE etc.

Where we are right now is the culmination of many years work, in some ways PG’s destiny was written long before he started PRD, what we are witnessing is the creation of PG’s legacy.

We are all benefiting from the vast wealth of knowledge that PG and LB bring, different skill sets working in harmony.

I am expecting a rather large windfall in the next 2 weeks, it will be used to purchase many more PRD shares.

Patience is required to extract maximum returns.

MEM

If the Co are not ready to release the accounts next week, I would expect a RNS with further guidance

£30m M/cap = 8.25p SP

£1.3 billion M/cap = 333p SP

A great opportunity for SP enhancement

But here’s the vital thing, the TIMESCALE is minuscule

Unheard of return vs time (delta) VALUE ENHANCEMENT

Not sure why anyone is selling, I just added a few more last week. There are so many catalysts to increase the SP, over short, medium timescales.

MEM

I am going to suggest our license might hold 3 billion barrels OIP, no one knows if that might be true, but no one can discount that figure.

Now think how much gas we might have, some under very high pressure……

All to play for, maximise your value by playing the long game

From previous research
https://www.researchgate.net/publication/46603074_The_Neogene_Taza-Guercif_Basin

Allowing for the extra shares in issue, I would like to see a positive projection of 0.2p increase in the SP per trading day.

40 days from today would equal an 8p rise, bringing us towards 17/18p, equivalent to the old 22/23p we reached last year. This should tie in to a pre testing phase and approx 115% increase from todays SP.

Great short term play, but the real money will be made off the back of a successful MOU-2 test, detailing the size of the structure and flow rates plus the possibility of a 1,000ft structure.

With that knowledge, preparation for the CNG business case will move forward.

SP after MOU-2 testing in a successful case could be anywhere from 30-80p.

Ladies and Gentlemen I like where we sit right now, I would love to see 0.2p increase per day.

Everything falling in to place.

MEM

Nm

My understanding is restoration of trading can take a variable amount of time, depending on circumstances and a proactive Mia culpa to the LSE/FCA.

I think our suspension will be over fairly quickly, days not weeks.

Not daft, but are there any payments for CCS ? Maybe Lonny can input.

Great idea

Hi Kieth, an excellent piece of Math !

With respect please allow me to add a few ideas.

When you reference 1 billion barrels of oil and 330p, I would suggest we have in all likelihood much more oil, so I would say for EVERY billion barrels of oil = 330p (a subtle difference)

To attach some sort of valuation to this oil and assuming PRD are left with just 20% of the license and we become non operators, purely looking for an income.

Let us assume my calculations are per 1 billion barrels of oil

A very simple RF of 20%, I would expect this to improve over time, but lets be realistic.

A exchange rate of 1.35 GBP over the life of the field

Average POO $85 gross, $55 net

A point of interest is how long it will take to pump the field of all the oil, allowing for non additional EOR. Let us assume 150,000 daily production

1 billion barrels with a RF of 20% = 200,000,000 bls therefore time = 1,333 days

3 billion barrels with a RF of 20% = 600,000,000 = 4,000 days

Plus added down time for snags and maintenance

Let us assume 150,000 bpd x $55 net = $8.25m per day or $3.011 billion pa

PRD share 20% = $602m attributed to PRD shareholders

Let us assume $602m income and 400m shares in issue = $1..50 per share or 111p possible divi per annum per 1 share.

HOW MANY SHARES DO YOU OWN ?

You can Adjust total number of bls, RF, daily production, exchange rate etc.

Obviously if you doubled production you would in theory double the dividend, but half the payment time.

RF will very likely increase over time due more oil being discovered and new technology in extraction methods.

So someone who owns 250,000 shares might see a annual divi of £277,500 before tax, for a period of time TBD depending on various circumstances.

The above is not a perfect piece of Math, lots of assumptions, but I think you can hopefully see the potential.

MEM

Good afternoon Seabright, thanks very much for you clearing up my ‘guess work’

Basically huge numbers :)

Did someone quite recently post some figures re the above, was it 5 to 1 ie 5 times more gas than oil.

Can you please correct my ramblings

Thanks

MEM

My guess but I suspect last nights presentation will light the blue touch paper, galvanizing the SP due the following

1. Confidence in PG & LB

2. Spud not far away

3. Lots of news flow due

4. Testing

5. With positive testing, CNG plant

6. SALES

7. (IRL) At some stage Minister Ryan will have to cease his huffing and puffing, or he will blow his candle out, the only source of light in his office after the blackouts begin. IRL is running out of time…….

Thanks everyone for your feedback

MEM

I would bend the knee to you Ma’am

RIP

Anyone live close by ? If so, do you fancy driving by their HQ at say 9pm see if the lights are on and how many cars in the staff car park?

Thanks if you can report back

There has been some great posts recently, lots of good info, my only concern is the timescales various people attach to their thinking.

In general people think this is all going to happen much quicker than the reality.

Yes PG has just published his latest timelines for Morocco, it is important to reign in peoples expectations, I do not think we have met one previous timeline, not everything can be controlled by PG and LB.

I believe very much in the nuts and bolts, but not hanging my hat on any timeline.

History tells us that is pure folly.

MEM

RNS on August 30th (Tuesday) re working on accounts, to be published in a matter of weeks.

The remainder of the week from August 30th

This week

With luck we should hope to get an RNS re publication of accounts next week………