Member Info for NigelHaemoglobin

GRH after my initial natural scepticism I now accept that this is a unique and almost once in a lifetime opportunity for a PI, why? it’s too good to be pumped by the usual tribe working for or colluding with the gambling ie spreadbet/CFD outfits.

Those operations LOVE the usual dire wildcats and hopeless jurisdictions ie Bahamas BPC, Outer Mongolia MATD, North Slope Alaska even. Did anyone else follow the ECO tale of trauma? Two discoveries in Aug/mid Sep 2019 then rns mid Nov that the finds were heavy and sour oil? >150p down to 25p today!!!

As GRH notes though there is of course some risk.

I expect to HOLD Muckle but will stay flexible if clear over-buying happens. My holding cost beans on average and is discretionary money.

If I had done something psychotic like punting a pension fund on a mini cap oiler I would have taken 80-90% off the table by spud day.

Good point GRH, an oil rim in this case would be the cherry, on the icing, on the cake.

We don't even need the gunk! Methane/Ethane is perfect but NGL products ie Butane and Propane are super easy to commercialise onshore as we both know...Quick Q Graham, what happens with Pentane? Not in my knowledge base.

Good point Muckle but is there any doubt that PRD is undervalued with respect to a risked prospect/appraisal value? On spud day and after I expect some Northwards momentum all being well.

To hold the entire tranche to well results RNS? tbc....

Bfooked go and see your GP

Is the sluggish SP performance due to the nature of the target? Most numpty PI's are obsessed by oil, perhaps missing the colossal value of a large onshore gas discovery in this region.

Good luck all.

Not best practise, in the event of a discovery time should be taken to evaluate results, commission 3D seismology, get some real investors onboard with actual money and I mean 20 million sheets, contract and import a dedicated appraisal rig for a multi-well program. That said there is the possibility of early CNG production here.

In order mitigate drill bit risk on our acreage do we agree that a three well program, pre-funded, would be a more intelligent option?

I would be far far happier at a share price of 10 pence but with real money in the bank...MOU-1 IS A GREAT WELL though, best prospect invested in for years mostly related to ease of commercialisation.

I suppose that PRD have raised as much as possible for the listing type? Beyond my knowledge.

Indeed my tiny witty wee foal

from the only PI who correctly called the placing. Do you remember the era when chaps from the 'right' school were replaced with men and women who could think and act and became the majority at a certain college?

ABSOLUTELY trust Paul G but he ABSOLUTELY understands that this is a high risk business.

We can trust that he is reasonably competent, bit of an 'independent' spirit though?

https://www.legislation.gov.uk/ukpga/1983/20/contents

Suitable voluntary section in this document...

If I were in PG's shoes £7 mil approx cash balance would be the aim, sufficient for three onshore wells with contingency for respuds, BOP issues, pressure inversions and so on with circa £2 mil minimum reserved for M&A, other projects etc.

No need to gamble on one well, the acreage is first class...

Ah I see, wasn't aware of that. Thanks Indiscipline.

Downgrading to AIM? No real surprise, all minnow E and P's perform like AIM stocks anyway from a PI POV: renders placings etc simpler to execute, from what I have observed.

Good Luck all re MOU-1

I rest my case, correct speculation but didn't expect it today necessarily. The two downsides, quite a low placing price and somewhat regrettable that we existing private investors were not offered the opportunity to fund our company. I would have been happy to buy shares at 18p possibly more.

Good Luck and Seffo, have a nice lie down old boy...

Black ops? absolutely barking Seffo!

Astonished that the alleged business gurus on here do not agree that the balance sheet requires radically strengthening in order to fund multiple expo wells. It may be that PG is sitting on a EOR or ROI deal which could fund a decent Guercif campaign.

Relying on a discovery at MOU-1 is not ideal E and P practise or for that matter a wise investing tactic for we the shareholders.

Huygens formula rules...

A window of opportunity is now available to fund what the colossal licence area needs and what Predator cannot afford (unless they gamble on MOU-1 well results). It is now feasible to fundraise, with certain constraints due main market listing, to invest in 3D seismic and three further exploration wells.

No S82 there are not three of us...hic...burp etc.

Specsavers job (again) apologies.

77969 buy not printed yet...dark pool?

Thats the broom cupboard, no seriously for yet another micro weanie oiler the rns was outlandishly over complicated. Typical for an outfit with two nodding donkeys and a shed.

Calling the inflexion point, missed the sweet spot myself but that's investing. It is imo now the case that we would be very unlucky if no substantial contract wins are announced over the next 2-3 months given the recent RNS and 'mood music' in the non released presentation...added substantial qty today.

Uncertainty though still exists!