Member Info for Mumbo_Jumbo

It's called experience..... Seen this type of pattern repeats itself many times

After today's RNS it's clear that they are waiting for results from Darwin 1 before they report on Clink bad news. Clink 1 is most probably a duster as they said they would announce if they found anything as they went along, and as of yet nothing has been announced. All now rests on the flow tests from Darwin1, which will decide the fate of the company. Will not be surprised if they do an equity raise before Darwin1 flow test if it also is a duster.

I think terms like " X compared to background" are meaningless unless we get some sort of indication of the percentages. Something that is extremely rare, being 200 X background does not necessarily mean its present in worthwhile quantities.

By their own admission in the RNS on 24th Oct:

"The Company will test multiple formations from the bottom of the hole upwards. If initial results of a perforation are positive the Company will report gas composition to the market and perform an extended well test on the interval before moving on to the next horizon."

So few weeks in, initial results aren't good and no extended testing. They would have reported it already.

Damned if you do and damned if you don't!! Very unenviable place to be in.

Literally law of the jungle in Mali it seems. Refused to pay bribes?

Gave them shares to cover their short?

Bowlesd - I am am very vocal about selling out after the tumbleweed at the drill sites that Donalb posted after almost 2 years of holding, and thankfully I did, saved myself a packet.

For you however, I hope you buy and buy and buy and hold for at least 6 months or so.

For everyone else - go over everything with a fine tooth comb. There are too many shysters on here with their own agendas to keep you hooked on for the ultimate prize. Isn't it strange that the authors of that famous reddit post hardly ever post here now. Maybe just maybe they all got their exit liquidity courtesy of mugs like me and many others over year or so back.

The Likes of DonalB (by his own admission) were quietly selling after visiting the drill sites whilst pretending to be satellite watching for others on the board here....

I am firmly of the conviction that PG will be gone in 6 months, PRD as a viable investment proposition is gone.

Mem- what clarity do you need? It's non commercial. How can you trust anything PG ever says.

6-8 months PG will have resigned by then most likely with mcap of sub £5 million....

The money in bank does not cover the work proposed for the next 6-8 months. It's there in the presentation.

Material sale by Kid to Chinese, so the tax is for KOD to pay not the other way round!! Unless the agreement was legally binding, the BOD has screwed KOD.

Not enough cash in the bank to cover the work commitments so has to be sooner rather than later.

Has the CEO come out of hiding yet?

Av- he saved me thousands so I cannot wish him ill will. I hope he gets a chance to atleast recoup his losses. But yes he is woefully ring about Prd now. This is headed for administration sooner than anyone thinks, the gas doesn’t flow.

He can't commercialise something thats not commercial. That should be obvious by now.

Gudin - there will be no testing of MOU1,3 or 4. It's been established that they don't flow. Its MOU5 or bust.

Highlandmatt - so thats the offset against the tax losses. Why not just say that with the inclusion of tax losses, netback will be roughly X per barrel of oil.

Omar the Anonymous out of hiding yet?

"3. completing the acquisition of a producing asset onshore Trinidad suitable for production enhancement to accelerate realisation of the value of the consolidated tax losses in T-Rex Resources Trinidad Limited, which for a 60 bopd well at WTI oil spot price US$69 per barrel is equivalent to an additional US$16.49 per barrel for oil produced and sold;"

What a convoluted way to say what exactly?

Is that netback of $16.49 at $69 spot price? Or what else is he referring to. Just seems like they rushed this out without thinking anything through.

Thebold - This now sadly reminds me of IOG and Beacon energy.... 6 months before it heads down to sub 1p.

MOU6?