Member Info for NigelHaemoglobin

So Mr injured horsey

You would rather take on financial, geopolitical and technical (read the SPE manual ffs) risk as a nano company with insufficient wonga for just one onshore well rather than trading ALL of that compound and complex risk for a circa 5% over riding royalty interest?

Hydrocarbon fields usually grow over time, 1Tcf may evolve into 5Tcf. I would suggest using your calculator occasionally ho ho...

If the BOD's estimate of positive EBITDA in 2022 plays out we can expect imminent increases in holdings by existing major shareholders and the entry of new institutions.

This will mostly be achieved by PI's baling on price spikes and the issue of more shares. Strong hold/increase.

Sefton you are partly correct, PRD could trade 100% of the Guercif licence for an ORRI agreement of around 5-8%.

In fact if the resource base discovered and appraised by the replacement evolved to 1 Tcf the returns to PRD holders would be colossal!!!

Ok, just for the 'hard of the thinking'.

How many wells can we drill and/or test with the cash available right now in the bank?

It's all clear to read in the interims: a figure quite close to myself and at least one other sceptical realist on this BB. Sefton NO haha, we do not know one another! Pimozide might help...

Selling down seems rational for the moment, it is my personal view that Griffiths is pinning his hopes on testing the distal edge of the fan system. If successful (no one knows what the c.o.s is) then there is an outside chance of forcing the SP up for a PLACING or even more unlikely: bringing in a partner on the back of the CT testing.

To be honest, with insufficient MONEY to drill MOU-4 it is a good enough 'plan'.

Always think CASH not GAS...

Indeed

Quite a scrap though: M1A1 Abrams V Algerias larger force of T-90's. It's more of a question of anti-tank and anti-aircraft capabilities: with very small airforces on both sides the most likely scenario would be an elongated classic armour/infantry conflict.

In that regard I expect the leaders to see the sense in not engaging: tacitly agreeing to snipe it out via the existing proxy war.

Serious complexity exists both in legal and geopolitical terms for the MEP. Politics destroyed GKP, they had no ability to survive the price crash having spent years pointlessly hoping for an oil and gas law to be passed.

I make Guercif four hours from the border by AFV with minimal opposition. Interesting scenario though: illustrating the overriding requirement to perform due diligence in geopolitical terms.

Third time for Griffiths over there, I wonder if he really believed that a hot tap into the MEP was ever feasible...

Well, PRD have enough money for minor and peripheral ops and for the odd decision to rigless test MOU-1 rather than aggressively targeting dwindling funds on MOU-4: PG , SS and Lonny need an unequivocal COMMERCIAL discovery...

They know this and so do a very few old-school E and P punters. As for the MEP geopolitics have come into play therefore is it being ignored in favour of running a modest gas bottle filling outfit?

I want to see more solid information about MOU-4 following drill results before committing more funds here, not just that but a forward looking plan to MASSIVELY monetise 400Bcf via the MEP.

Good luck fellow gamblers...

I would suggest taking a chill pill, allow the company to develop and institutions to take up significant holdings then accept the role of small yet hopefully very successful private investor?

Bowleven had an interesting little drama involving activist investors, the removal of the board and distribution of cash: this is a totally different scenario...a potentially very positive one indeed.

It was indeed: a high risk strategy though in terms of the timeline. Credit where it's due though, JW had the approvals process in full control, even the small delay was thoroughly, accurately and honestly explained.

Thank you all for adding detail to the evolving story, having called the inflexion point my view remains that we have a 20/25% risk of a placing. Accelerated final approval for I.M after the judicial review (if initiated) should negate placing risk.

Not least because our own engineers should be designing, manufacturing and commissioning most of the work! I sincerely hope that JW, Arun and the BOD insist on HW carrying the workload!!

Sorry 75:25, fat fingers...

Well, good points and hearty respect for your conviction. I have called HARL as a placing/dilution risk of 80:20 then 75:20 on the metric of major contract win or insti (toads) placing. The ML is NOT yet a contract and judicial review is almost certain.

On that basis I would not criticise a PI for taking something off the table...This IS a genuine company and NOT a smelly micro hydrocarbon E and P but significant risk exists....

Thanks Highland, the conferencing company told me 24-48 hours after the presentation.

Probably Griffiths on the phone to Pilbeam hoho etc etc.

There's more to come, the tiniest of retraces this morning after the bell tells its own story.

Now, JW has expressed a wish to increase the proportion of institutional shareholders but, none of those city krill are having any of mine!

Thats during construction then 200 permanent high quality roles. Now I understand that controversy and emotion levels are high locally but this is all about communities: being able to build a life locally, marry, own a home and raise children.

I was expecting my open offer contribution to temporarily sink buy having paid a years' salary for two young people to learn engineering makes me very happy indeed.

God bless the good ship Harland and Wolff and nuts to the twizzle haired Nordic Doom Goblin!

Suspended some of my normal icy scepticism for this one: absolutely delighted that young people are being apprenticed into this great range of engineering activities.

If crap outfits ie rkh/prd produce a return (very unlikely) then I will add more here.

Maybe not a punch bag, something else...

Exasperated not angry, Pete Brailey spotted and reported most of the issues here. TW even sent the bundle of toxic info to the FCA.

Those chaps are much more able than me, I have never managed more than 15 stocks concurrently: normally mid-term recovery plays which have been quite successful. E and P appeals purely due to the colourful selection of wannabes, dreamers and wackjobs to observe: a bit like that ludicrous reality show that had the premier wacktard of the planet George Galloway on it.

I find you interesting: clinically.

Twaddle sefton, go and munch on a hay bale.

No of course not you plank, it is the entire MENA area and the rest of Africa which is riddled with corruption.

Not Morocco though, completely honest and straightforwards to deal with: I have been there on business at least twelve times.

Conoco Phillips, absolutely first rate blue chip company: it is simply this, solid and reputable companies like Conoco Philips can do great things on the ESG front for countries in the developing phase.

Poor old Paul forgot his ESG graphic on the first post bilge rns presentation!!