Member Info for NigelHaemoglobin

Danger_

Thank you for asking but I have never pretended to be an O and G professional or having been involved in running businesses, I am bearish on all mini oilers: the safest money to be made is to be found by exercising great patience in accumulating super major or major hydrocarbon shares.

As for Rockhopper the future will be determined by a first rate but moderately sized company. Will they reach FID? Probably but the decision will be made after receiving very complex guidance from economists specialising in natural resources.

Everything else is being very professionally dealt with inc FPSO selection etc.

Shortly after FID resources will be converted to reserves IAW the PRMS of 2018, at that point the PI investment carries risk but greatly mitigated.

Agree, odd. At the very least take up the warrants and sell for an immediate gain!! How many PI's make even modest profits?

Sandy, a very appropriate name...

Let us be thankful that no water shortages exist, for the moment, on our temporarily verdant island, hosepipe bans notwithstanding.

I recommend a desert survival course, fascinating.

There IS a water shortage in Guercif therefore probity is required in it's abstraction for gas and oil projects.

Although somewhat blinkered for the moment you are not on the M-ron list.

You have neither read or tried to understand my overview...sorry.

Firstly, I called a fundraise but my speculative timing was slightly out: bit dim sorry.

M-Rons.

No most of you are not, Bob is one. Here is some logic, how do we know that well operations and fund raises are value accretive (to use the words of the gracious one), we cannot know this! At best and appraised of all knowledge so far and including the MOU-3 ops update some risk has fallen away.

White Knights

While my call was in retrospect not a good one (in timing only, well ops are a de facto closed period) what is to prevent GRH and a couple of the wealthier investors offering a private loan with a reasonable rate of say 8%? Just an idea.

Trust

PRD overspent on diesel, interesting that one and worthy of analysis. In addition drilling fluids of various kinds were used at a greater rate than planned. Is the following correct? Star Valley now appear to require more money up front than we formerly did ie MOU-4 'forward costs'. Clearly the RNS strongly hints at further placings, there is still a funding gap for MOU-4.

MEG, Maghreb Europe Gas Pipeline.

Quietly ie no RNS (if I remember) dropped from Griffo's gloating when the Algerians finally threw the teddy out over a territorial dispute in Autumn 2021. Now, competitor outfit Sound plan to help in feeding two new and sizeable gas fired thermal power stations via a lengthy connection to the MEG, if PRD can get in on this act the future is rosy indeed, after all they are much closer to the pipeline.

Personally? I don't rate PRD's chances of building a ground up downstream CNG business. A ceramics company for example would be better remaining with gas oil or fuel oil given it's low and existing storage cost and the forthcoming tsunami of solar and PV energy in Morocco.

As a last thought, unconventional gas? What does this mean? Food for thought...

With no sign of a leak in terms of volume and price why did Griff feel the need to RNS? It read, we have found something (up went the SP) and that the drilling team had to proceed cautiously (which is what they are trained and paid to do).

Funding options appear limited but with a decent and deliverable find a farm in looks more than probable.

If further fund raises were feasible I would have actioned it by now, certainly issuing RNS's can cause the less sceptical investor to lose sight of the ball.

Quite an expensive well now...

Good post Hoppa but I would contend that patience should also be applied in entry timing and in the management of holdings ie executing trades in order to reduce the average cost of shares.

That said impatience or dynamism should be employed if opportunities, often provided by exogenous factors, present themselves.

Chessmaster most small oiler bb's are, as you will have observed, appear to attract individuals from a wide range of educational and post school backgrounds: if anything slewed towards Joe Normal. Nothing wrong with that of course but the rancour against your calm and rational posts has to be ignored if possible.

That said, why should serial daftness be tolerated? Fwiw I held and traded RKH before the 'cuck'down, even attending a couple of AGMs. During one AGM a fat sweaty bloke turned up an hour late and called the board f******g c***s!! Can't remember exactly when '18 or '19 but UKEF came up, the board didn't say much but the non verbal clues where all there.

Sold the whole pile in the low twenties while waiting for the lift haha! Bought them all back under about 10-12p, took the warrants and exercised them.

The future looks great now but there are many many PI's deeply underwater after the early days hyping. That might explain at least some of the angst if not the shouty nonsense.

Finally and just my opinion only it appears that punter and BOD interests are aligned, I initiated this idea some two weeks ago. That is a significant quantum of time given the recent burn of money.

Clearly there is something down there, indeed it was announced by Griff. Not a well announced as 'tight' so fair enough.

Remaining clear but open to the possibility of a long term investment at the optimal price point.

Well, since my call that EOG is investable it remains so. Egdon could have been more on the ball re Wressle permitting issues but that is all history now as EDR exit the wacko publicly traded mini oiler sector...FYI some of my modest 50% gains are now crystallised into real money but the core holding is retained. Is this logical? I think so but it is for each investor to decide.

Oily thanks for that although quite what a puffed up 20% on the SP will do for blobby old Bob's £25 in here is beyond me.

High corporate complexity exists which have already admitted is err, complex! Placing headroom has been exceeded but shrewdly and swiftly circumvented by PG, credit where it is due.

My view is, gamble on the drill bit (fair enough), junk bond, CLN, farm in or private loan from a wealthy individual (could be GRH, once closing a 20 billion plus deal!).

Either way, PRD need money and pronto. Anyone disagree and capable of posting an honest and accurate reply?

Agree Roxi but risk must always be allocated across multiple asset classes: many junior oiler Dopamine hunters have zero grasp of risk.

This looks like a radically different business model and ought not to be attempted. Those companies using gasoil (diesel) to generate electricity or fuel oil (mostly heat and some electricity generation) are going to be difficult to persuade to relinquish very high energy density and easy to store liquids.

Apart from two new significant base load natural gas power stations the energy future for Morocco lies in Solar and PV energy backed up by base load power and their pre-existing gasoil and fuel oil systems. Morocco is an excellent nation for solar as Chile is for wind. Northern Europe is fairly useless to average for Solar, PV and wind.

Well the Watermelons can only freeze their populations for two consecutive winters before they are removed. Good luck to all, or the few of you.

Oily thanks but I covered that in paragraph three of my short post about risk and funding. If they can raise funds then they should, regardless of the potential upside from MOU-3, PG is very shrewd and the continuing existence of the company is way way more important than a few dozen PI fixed odds gamblers getting a Dopamine rush from seeing a large on paper rise in their holdings. Few will have enough self control to take profits, always the same.

Tmh sorry but my offer to consider not posting for two months was on the basis of a bit of P and Q from the fundamentalist believers of prd/grh etc.

You broke the covenant.

Quite interesting now and more than welcome for intelligent input. MOU-2 was helpful to an extent in geological understanding but completely cost disproportionate in capturing that information: the idea was....to find gas!

Now, GRH et al in spite of never calling a placing have far more of a grasp of the prospectus, headroom for share issuance etc.

In the absence of funding news is one logical deduction accurate? In that PRD are throwing the dice for a solid gas find at MOU-3 and positive appraisal results at MOU-1? Nothing wrong with that as most punters in this type of investment love to take a chance on the drillbit. In the success case a fundraise at 25p is clearly a cracking result.

The only petite bijou problème is that businesses generally prefer to have a funding plan over a longer term...GLA and I will be the first to offer sincere congratulations to lucky punters.

" I have great faith in the new executive management team and intend to remain a loyal shareholder."

Not only the above but he bought a huge wedge after leaving! Added immediately, told you it would be a good week!

Sandy it is critical to ask questions when you are gambling with a greater chance of failure than success.

Secondary Modern was it? Really sorry...

Thank you very much indeed Androcles, as you may be aware MOU-2 was discontinued due sticky clay, referred to by Griff as a vegan mud smoothy. Probably. Thank you.

Good point Mamms but skim reading over a decade of RNS's it would appear that LOGP have had to cope with multiple changes of strategy, CEO's etc by the operator. I don't think they owe Providence, BEY etc FA in any sense.