Member Info for NigelHaemoglobin

It makes no sense to run MOU-3 all the way to TD, tool loss or slime encounter before giving careful consideration for the full funding, including contingency of MOU-4.

Therefore and purely due to a long term interest in speculation I call a placing imminently and by that I mean within a fortnight.

If it does not occur I pledge two months of no postings (unless gross impoliteness occurs).

Yes I do, it's called a 'rear view mirror'. Prospectuses remind the 'hard of thinking' of the huge field of risks. What they are offering is that some companies ought to be avoided by those with average incomes and the many who lack 'sophistication'.

Tbh I fall into the category of the above. Try and calm yourself, enjoy your punt and it's outcome. Cheerio.

It doesn't matter, this is a brutal numbers game as was the horrendous reality of the exponential factor which forced (rightly or wrongly) many many governments into lockdown ie enforced social distancing laws.

I agree that plenty of potential exists here though, simply stating the other side of the equation.

Equations are a useful tool in the deployment of capital in high risk investments. This is a high risk company by the way, it's all in the prospectus!

Well let's hope that the board have a defence strategy however with the prospect of an even more dismal government which will screw all decent, profitable oil and gas producers it may well be time to cut and run from UK companies.

What you are missing is not complex, a confluence of geological/technical risk and the very steep decline in cash reserves as two concurrent and very very expensive operations are executed.

It's really not even CSE level stuff tbh old chap.

My Strong Buy call (actioned) on Mar 1 is now starting to function. An mcap well below the fundamental valuation of a company is the sweet spot.

Only 5-10% of small cap oilers are even remotely investable...

PoC as you posted the RNS is clear 'Whilst competition for capital for greenfield oil developments is strong'.

Study what you posted after the results, you inverted the meaning! No offence intended.

It's your money kit cat.

GRH

Tick up for your post, my uncle was an army first aider on D-Day having lost his elder brother in the battle of El-Halifa (enemy engagement between the two battles of El-Alamein). My own Father served after the war but sustained a bullet wound in the knee scrapping with Greek nationalists, EOKA.

As G.K.Chesterton wrote, 'The true soldier fights not because he hates what is in front of him, but because he loves what is behind him'.

Who would charge even 50 metres on a Normandy beach today?

Not going to drone on but it would be illogical to run the company down to the last few hundred thousand before raising funds for MOU-4.

Not calling it yet...

With respect I would read the RNS again with reference to frontier hydrocarbons (greenfield).

Yes I know that as a shareholder, err bear you are really making me chuckle with your VIZ type Major Misunderstanding mindset haha.

Once again, wtf is a 'no foal no fee'. Barking!

Tony I agree and prefer EOG to PRD by far, they only have a licensing option but we have a long term Frontier Exploration Licence. BEY lost their LO at Barryroe but worth imo buying a few LOGP as a five year arbitrage type play.

Mamms

What is a 'no foal no fee' arrangement haha! Only joking but that was pure Python. Atb.

I think either a/ LOGP will win the case or b/ the issue will be settled in due course by negotiation.

However so much uncertainty exists for the moment I cannot offer speculative probabilities. Some time ago I posted on the PRD board (mostly sectionable) that too much complexity existed to call a placing but within 4-6 weeks I was able to share, in the interest of the enjoyment of investing, to call the placing: accurate to 8 days.

This situation is impossible to speculate on at the moment.

Have to love a good legal scrap, a lot of patience required though. Ryan is barking, importing oil and gas in some cases from many thousands of miles away and in some cases from tyrannies.

Gotta love Greens, most of their plastic windmills made in China, LNG from some dodgy places regassified by ourselves, child labour artisanal Cobalt mines, Lithium processing using millions of tons of decent drinking and irrigation water.

A reversal may occur eventually and there will not be enough CO2 to grow food!

Ran my slide rule over this somewhat complex and 'edgy' outfit a few years ago and that was it, nyet! Will it ever recover?

I would be very cautious about investing in what will be a private entity, RBD invested a fair amount in private companies. Worth looking at their company history.

PoC I do not call you out re the carry, you may have sources however Borders have a good reputation for not being leaky, that said of course leaks may occur from a counterparty. Also, it is welcome of course to see new major shareholders but there are professionally managed 'blue sky' high risk portfolios: why not? I have one albeit on a tiny scale compared to the Canadian fund manager and the HNW couple.

I sincerely hope that the first Argentine offshore well delivers but given that they are all large players we can be sure that full exploration strategies will be employed. It will not be like some outfits that scratch around in the desert calling for more cash every second tuesday...

Page don't worry, normal reaction for this somewhat emotionally febrile tribe. Darwin W is 81% gcos isn't it? Would have to check. Unconventional gas here which is what I effectively called and posted before the waffle, sorry presentation. Zebedee was a very high gcos expo well in principle but a de facto appraisal (from a senior board member over coffee).

No poc they have insufficient funds for MOU-4, that was implied in one of PG's answers on Proactive, he certainly 'proactively' managed his time slot haha!

On the positive side I was quite surprised to discover the operating safe max pressure of a CNG trailer although Moroccan regs may be different, I expect that armed security will be required for the transport.

High risk exists, with luck they will prove up volumes and flow rates, sell up and we can all forget about Morocco.

Back in!