Member Info for Mumbo_Jumbo

Inthego

Ahh those desktop studies, where he and his mates get the minerology or the geology wrong and bill the company for a kings ransom for the work. How long is a piece of string? I know the answer to that, till the money runs out.

Just because Ingles said it flows.... it should flow right? Well where is the proof? He came on board back in September or so right?... and the excuse was that the swabbing cleanup rig wasn't available back then. It was only meant to be a few days job to clean it up.... remember?

Some of us do have long memories and invested many tens of thousands if not hundreds of thousands at one point or another here. Please don't kid people like me by going down the "how the industry works" and NDAs rabbit hole. What does that have to do with anything now. The wells have been drilled already. Let us ignore Mou5 completely and also mou2 (which is incomplete and lets ignore that he was suppose to get the results from the lab and reenter and finish it), why isn't he flowing mou1,3 and 4? In fact why hasn't he done it already? Do you know what they done in Morocco for the whole of 2024? fraction of the work that was suppose to be done in q4 of 2023. Here we are almost in June 2025 nearly two years since mou3 was drilled and that work from September 2023 is still to be completed.... And yet here you are with your 40 extra people on site and lockdown NDAs. Whats that got to do with anything or is relevant to work he should be doing. If anything, what the hell is he doing having extra people on site when there is F all testing being done. I do not mean to belittle you but do you have any idea as to how foolish you sound when you come up with these type of statements.

I will give you two companies.... Beacon energy and IOG. Since you are in the industry, you should know that both had reserves that they could now flow and both went to the wall because of it. Technically, Beacon as the parent company didn't as the local subsidiary in Germany did. Thought I mention this, incase some wise guy pops out to say that Beacon is still trading. If thats what is happening at PRD then unfortunately thats the nature of the exploration game.

I will finish with this.... I would love for PRD to be a success.

Inthego - It is very simple. PRD needs to provide clarity and flow test. It's as simple as that.

Jimmy is correct, for those of who have been here for few years, this is pure bait and switch at play yet again and few here for reasons beyond my comprehension play along with this charade.

Ask yourself this question..... what exactly is PG busy with now? There is no firm commitment to anything. What is Zenith doing right now? Where is the swabbing rig or the sandjet crew. Has the permits for the explosives been applied for? Have they ordered the explosives yet? Are all the necessary long lead items at hand? These are all reasons he used one time or another for the delay in testing before.

You should be incessintly asking for clarity and testing!! You don't need someone telling the resource is this big blah blah.... we all invested on this premise at one time or another. We are beyond that stage now, the wells have been drilled and what is needed is for PG is to tell everyone:

1. It has gas/oil or not.

2. It flows or not.

3. If it does flow - what is the rate.

No excuse or BS, just give us the information for better or worse.

PS. I do not consider TT an asset, it is a complete liability and hence I didn't bother to bring it in above.

SandyBugler,

What is the use of playing dumb, surely you know that is the way he deliberately communicates. Bizarrely, if this was Aim, the NOMAD would have forced his hand to give the full truth. Basically pay the higher fee and do whatever you want on mains listing on LSE.... Have a look at GEX, been dragging their feet over their drill targets and permits and suddenly now its going to suspension as the annual report cannot be done on time.

When you have to look for outlandish scenarios to justify a bull case here then you know something is very wrong.

The only way PRD can recover is for it to prove that gas is there and it flows. They do not need TT or drill anymore wells. It is as simple as that.

Instead delivers a suspension of the stock.

Well done Hamilton.

Pv72 - may I remind you it was to be flow tested last July 2024 and then waiting on well clean up after Christmas, only a few days jobs apparently.... Here we are almost in June 2024... and you still believe PG about flow testing.

Has he even ordered the explosives yet? Don't worry, he will let you know that he has applied for a permit and awaiting sign off by local authorities.... and then he will order it....

Seen this all before. Truth is right there infront of you.

Ibiza28 - what's holding PG from doing flow tests and proving that gas flows and in good amounts?

The truth is right there staring at you, but you choose to ignore it - why?

Morroco

- 5 well drilled in 5 years with one out and out duster in Mou5.

- Not willing to flow test drilled wells.

- Reluctantly flow tested one (Mou3) twice and both times failed to flow gas.

- Promises to retest the well after cleanup but almost 10 months on, no test carried out despite raising money to do so.

Trinidad

- A cash hole that will require constant funding to drill new wells to keep up with the drop off rate.

PLC costs and Consultancy fees

- Nearly £1m a year

- He pays himself and others for work that frankly has proven to be wrong. No gas flowed to surface in Morocco and worst still - for the drilled wells, in his own admission he has either got the minerology or geology wrong. Where the simple solution would have been to flow test well after they were drilled so you know the issues and be prepared for the subsequent wells.

What are positive and negative aspecst of PRD

- Positives, no debt and has money in the bank from equity raises.

- Negatives, PG. You cannot trust anything he says or does. No hydrocarbons flowed to surface as of yet in Morocco. Deliberately confusing comms and raises capital for planned work which is then not carried out.

Does PRD merit current mcap

No. PG has proven himself to be a failure and an unlikeable, untrustworthy individual at that. The saga with ex managing director Lonny gave a glimpse to what is going on behind the scenes. No hydrocarbons have flowed to surface in Morocco and there is very little hope, if any of getting any meaningful positive cashflow from TT. Therefore, after 5 years of trying in Morocco, PRD has no real valuable asset at all, just a list of liabilities that need more cash throwing at, for the chance that something might give something back. Would you give PG any more money?

What is likely to happen in near future

- He will promote TT, the fortress of clapped out old fields as the cash cow. Infact, it has only swallowed up money and not delivered any positive cash flow.

- The money in bank will be run down in consultancy fees and other experimental practices to get hydrocarbons to surface.

- The stuck shareholders will keep beating the drum louder and louder in the hope that enough mugs can be enticed to buy here so they can make an exit.

The reason PRD is not dead already

- As mentioned already, it has no debt and has money in bank from the cash raised for work that has not been done and nor will be.

- It will come when PG has to resort to debt for capital to keep the show on the road.

Footnmouth - its a valid question to ask. There has been nothing from the company lately to suggest that the positive sentiment is justified.

Have been saying this for quite a while and it's never been more important.

3 months on from the results and nothing has been forthcoming. What has he been doing during this time?

Sheephatch - When is the drilling due to start?

A lesson PANR shareholders are learning the hard way. Despite what it says on well logs, unless it flows hydrocarbons, you have nothing.

It applies just a much, in fact even more so here. The real question here is why PG is so reluctant to test? Almost half through the year and no sign of testing of Mou3 or any of the other wells, which to me indicate that he is not serious about testing in Morocco. Basically playing for time and running down the money in the kitty.

What assets?... Do they even flow much? How much will it require for it flow for commercial quantities to justify the mcap it already has? What will the IRR be when the Capex is added.

Potential Oil to water.... Mergez has been a disaster for the reputation of this company.

Dvharrison - what exactly is the game changer Mako news?

DST shouldn't be taking this long, it's usually a short process and certainly does not take 2 weeks.

MarinM - Its being range traded by group of individuals. Have pointed out repeatedly. There is nothing from the company that merits a rise in the share price.

*worthless IP

Sandy - I say things that need to be said. Have said about companies that they had worthless at their peak, and then year or two proven to be right and the said company going into administration. If you have been here long enough you would know that I have been banging on about flow testing for years. It's a basic requirement for proving up a resource of any kind. If you don't have that, you have nothing to monetise. Its basics, I know everyone knows this, but remarkably, everyone here wants to avoid mentioning it.

By suggesting that all the failures for the last 5 years are all by design......

Some will say but wait... what about all the gas in the 4 out of 5 wells....

Well, I would say is, where is the flow test to prove that there is gas, it flows and is in commercial quantities. Not been able to prove that for 5 years, tried unsuccessfully twice at mou3 and no sign they will go back to it anytime soon.

Utterly bizzarre situation where the very obvious that the company publishes is being ignored over crazy theories. I understand, lot of people are under water barring very few but this is the exploration game, nothing ever is smooth sailing, failure is more common than success. Understand the nature of the high risk business that you invested in, and just because you invested in it, doesn't mean it has to be a success.

Some peeps should read up on IOG and BCE, and understand that until anything flows, it is not a success. Both these companies had gas and oil reserves but failed to flow them. IOG went into administration and luckily for BCE, the German subsidiary had no loan guarantees from the parent company and thus BCE the parent company managed to survive administration. It is currently a cash shell on AIM and soon to be struck off if they fail to make an investment.

PRD has some cash in the bank, but with inactivity, it gets depleted by the tune of £1m a year from PLC costs alone. The only saving grace for the company is that it has no debt, and it is also why PG can drag this until the cash has depleted with his and his mates "consultancy fees" without much exploration activity to show for it going forward in Morocco. For someone who has been continuously wrong about the geology and how much of a pain it has caused the company, should really be working for free and not charge any "consultancy" money going forward.

All very predictable. House always wins.

Keith. Stop. You are now embarrassing yourself.

Read the RNS. There is no natural gas at mou5 and he's now chasing phantom helium reserves. It ties in with what Lonny said about ... Natural gas to oil to helium to diamonds next... to paraphrase his tweets.

You do not suspend for sale to for though. Remember they have to put it through to shareholders. The suspension is for accounts and thereafter whilst in suspension if it goes into administration for waivers not getting extended and loans called in early.