Member Info for NigelHaemoglobin

Highland surely it is dependent on a discovery at MOU-5? Then appraisal wells can follow on. In that event the mcap will blow the doors off and fundraising will be easy with little or no dilution.

Another option would be further appraisals of existing 'discoveries'.

What PRD cannot do though is to keep an inactive rig during FDP and FEED. Well that is unless they own the rig I suppose? How they crew the rig is for genuine oilies to post about, I have no idea.

You can talk up a 1 in 8 all day long, nothing matters more in calculating a bet than accurate statistics!

Highland, from the June 6 RNS.

'As a result the Company has started the process of sourcing a rig with related well services from overseas to bring to Morocco to enable it to have the flexibility under its sole control and discretion to progress a potential Titanosaurus step-out drilling campaign and further appraisal drilling of gas targets within and adjacent to the Moulouya structure'.

So do you have a view re timing and discount for a potential placing?

A good test result could triple the sp easily but capital dilution ought to be avoided.

Interesting game of strategy and basic maths.

Fair point James, I have always been open that my placing calls are speculative and that it is enjoyable to observe what is a complex game and comment on it.

Do they wait for testing results though? Why not place while uncertainty exists rather than waiting for proof?

It's a hard call for PG and an equally hard call for speculators.

How to weight or vary investment (bet). 12% GCOS is the, if you will, peer reviewed stat but PG reckons 'about 50 mate'. I would go for 1 in 8...

Helium? Good idea, observed occasionally in gas reservoirs but there is a threshold concentration for commercial viability.

80/20? Placing rns guesstimate within two months. To acquire a rig, mobilise it, operate it, demobilise it and ship it back to Europe costs?? Hard one, 5 million? Algeria is unlikely to permit rig transit through their country so MENA based rigs are probably not an option.

It's been interesting to play virtual chess with PG but he's winning at the moment with the Helium tactic, there are a LOT of excitable punters out there, look at HE-1!

So place for the rig, contingency and further testing options post Sandjet ie EWT. I would go for a 9-10 million placing at 35-40% discount.

Pure speculation! All in fun.

Any conjecture regarding the...Titanosaurus well? Why was the rig not available as planned? How long will it take to import (and fund) an alternative rig?

Given the inflated mcap if prd dilute again the well might be worth a punt, watching closely.

On another note the IM yoghurt knitters and their lefty lawyers should congratulate themselves on...

JEOPARDISING the jobs of good BELFAST folk.

Permanently on this one. Investing was a moronic decision to the 'N'th degree. I was perhaps correct in that they could win contracts and they did! My A star blunders were to not cut and run as debt increased, to think that IM could succeed and that a banking facility underwritten by UKEF had a good chance of success.

What a berk!

Wouldn't bother with UK stuff, Kier Star-lin is temporarily in control. The farm out will launch this one imvho.

If he/she/they recognises the value of free speech and relents from the relentless delusions that myself, the Bold and others are not in collusion will he or she apologise for the never ending nonsense that we know each other? I have NO idea who the Bold is but he has total freedom to express himself! Apologies, I'm assuming that The Bold is male but it's impossible with Sefton due endless raving.

Same Bill but I'm holding off from spaffing yet more money into my ISA's, SIPP etc so I would have to sell equities to buy more EOG.

Will stop raving on but Blair, Brown etc are trained to appear normal: observe what they have done to our sociology! No more rabid posts from me.

Everyone is entitled to an opinion Bill, I went to college in Brizzle, 1980's. We had some fun provoking the numerous reds and spartists who seem to infest what otherwise is a jolly nice city. Some of my friends were at Colston Hall hoho.

As for Starmer I know someone who was at Middle Temple with him, a midwit even then who failed to disguise his radicalism. By the way, he struggled but the magical idea of being a human rights lawyer saved his education as a barrister...

1.10 on the bid now.

Good post Dai but my punt is mainly on EG with Inishkea as a double bet but the foundation of having actual revenue is great. Permitting for further exploration/appraisal from even the existing Wressle pad is worrying. The last government were fairly average but bailed most of us out through Covid then stabilised the economy. Now we have a truly horrible mix of raving Marxists, wackjobs and the sub-literate and innumerate. As for Matd, classic example of LTH misery. All I would have done (if interested) is pile in after the penultimate or final placing but bale out 80% if in decent profit.

Back to EOG let's hope the free float continues to be consumed, full ask being paid so a strong finish is possible.

Dai

Not very talented, I only just break even but allowing for inflation in the red. As for PRD calling all those placings was pure speculation: informed by the estimated cash burn and somewhat 'interesting' logistics. Didn't trade on it. Found the herd claptrap amusing along with quite hilarious over optimism on SP, time to first gas etc (already out by nearly two years).

It's licence transactions ie farm ins/ takeovers etc where you can make a ton of money. Waiting for production mostly a waste of time, Wressle didn't exactly blow anyone's trousers off!

CCC

Not really worth engaging with you but personally I find claims of CNG projects in the frame nearly two years ago rather unfair. The management of the apparently endless testing program and the slippage of the bizarrely named 'Titanosaurus' has to be fair game for debate.

Well I've been horribly wrong more than once, HARL, nightmare as a patriot as well. Rescue is possible with UKEF backing.

EOG though could five bag with a farm in at either offshore location then multi-bag again on discovery.

Less risk than usual as well!

From the various presentations what was the date estimate for first CNG and how many years/months was that estimate out by?

Indeed, going up like a teflon coated suppository!

Gardener, de facto closed period, particularly if the data room is open.