Member Info for Obadhia

There's some interesting facts and figures in the latest Investment Times from HL.

Amongst their ISA clients millionaires apparently number 626, their average age is 74 and the most common three ages of millionaires are 76, 75 and, I'm delighted to read, 78. A bit late in life to become cash rich, but so be it.

I'd venture to suggest that by the end of this year there's every chance of a few more ISA millionaires on their books!

To any attendee, appreciate it if you could raise the following request with PG/LB:

Could you please RNS the MOU-3 spud date as and when it happens rather than leaving s/holders to guess if/when it occurred. Same goes for MOU-1 test ops.

Thanks to whoever raises the question.

A very confident step forward that promises real progression, exactly as needed.

Certainly a degree of clarity regarding future monetisation plans wouldn't go amiss this coming Thursday. Maybe they haven't changed that much other than deciding to prove up more of the licence prior to any deal but it would be good to be told and settle s/holders' confused thoughts.

Something has occurred denting confidence, my guess some privy to info highly likely destined for a Friday RNS.

The last placing announced on a Friday, 17/3, (@5.5p), rather that than say learning that MOU-1/ MOU-3 progress taken a hit. Whatever transpires Griffiths keen to get it out of the way prior to the 18th.

Have largely come to terms with what I believe PG said on the SR interview, ie he's distinctly talking about the sale of the Moroccan subsidiary, Predator Gas Ventures Ltd, and not simply the MOU sum total asset. That sounds to me to be conclusion of PRD's Moroccan adventure, total concentration from the point of sale switches to T&T and Ireland.

As to the special dividend, taking the middle ground on the figures PG quoted, £140m seems the target for 40BCF but whether say 60BCF would result in £210m is up for debate and should be clarified on the 18th (that is if the current goalposts remain in place!)

So working on £140m I'd suggest around £25m retained by the company for future working capital which effectively would result in declaring an approx 28.5pps special dividend. Some will be happy, others certainly not.

No surprise here, whether it's a written report or delivered orally you can virtually guarantee the end result is PG spreading a confused reaction amongst followers. The answer maybe would be to hand over future presentations to Lonny.

Hoping to hear, for curiosity sake at least, whether the MOU-2 sticky clay problem was solved by those clever lab chaps in Aberdeen. Wouldn't require a RNS so expect it to be discussed on the Sunday interview and investors made aware of the outcome and if they still plan to revisit MOU-2.

I'm as enthusiastic as the next bloke regarding Predator's success but there's no point whatsoever trading on false hopes and expectations.

In the last RNS, April 4th, PG clearly stated re. MOU-3 -

Completion of permitting and survey requirements are expected to be finalised shortly. Civil works are due to start on or before 10 April 2023 (OK 7th April) to facilitate the commencement of drilling activities prior to the end of May.
Prior to the END of May.

The exact timing of the start of drilling operations is dependent on transit times for the arrival of all outstanding long-lead well items from a number of different international locations. As this becomes defined then the drilling schedule can be amended accordingly.

So being realistic June will be the month we discover what's down there in MOU-3 whilst meantime MOU-1 test results and Trinidad action will keep the pot boiling.

If only HL worked as efficiently ....

Grateful thanks PT, when it comes to reportage of Irish energy news little escapes you, you're our number one reporter and much appreciated. One day Ireland, from our perspective, will deliver and reward PRD's persistence.

Thought long and hard before I persuaded myself to buy more this morning, fell to the temptation despite the 'here we go again' thought.
Do believe we'll see a company update on MOU-1 and 2 next week, today's RNS is an embarrassing new low for s/h comms.

Can anyone advise the CoS for MOU-3?

Perhaps we're nearing the moment Carl Kindinger comes to the fore, one of his many talents noted as 'raising finance in difficult circumstances'.
https://www.predatoroilandgas.com/about/directors/

Three months have now passed since we heard,

"Mag Mell Energy Ireland Ltd. presented its Mag Mell Floating Storage and Regasification Project to the Security of Supply, Markets and Retail Energy Division at a meeting that took place at the Department of the Environment, Climate and Communications offices at Adelaide Road, Dublin on 2 December 2022. The meeting was extremely constructive and allowed each respective party to be better informed ahead of a decision on various options that may or may not be adopted following the conclusion of the public consultation process on Ireland's security of supply review. The Company believes that these options may be clarified by the end of January 2023.

The Company wishes to sincerely thank the DECC for giving their time to review what the Mag Mell project potentially has to offer Ireland.

The Company expects to be able to update the market in the next few weeks on whether the party that has expressed an interest in the Predator Oil and Gas Ventures Ltd.'s application for a successor authorisation for Corrib South will proceed to the next stage or not following the completion of preliminary due diligence."

Rather hoping the current cold snap has focussed Minister Ryan's mind as to the increasing urgency to address his country's energy demands, has to happen at some stage and PRD's plans remain very valid.

Thinking if PRD experience a delay in MOU-1 testing team/equipment arriving, yet see the MOU-2 mud problem solved and supply/delivery expedited quicker than expected the time gap between the two operations commencing could be minimal. To maybe the extent that a desirable cost-effective back to back testing of 1 and 2 could take place - as originally planned.

Small funding raise probably necessary and worthwhile to get back on the track PG originally chose. Think we've hit the stage where an update wouldn't go amiss.

Redbox, tea intervened, I'll be brief, Prem rugby catch up beckons.

A fair reply albeit an investor cum trader is always in conflict regards action and advice, leading to suspect posts when made.
Judging from your character that won't bother you unduly but GL with your investment portion which in time and all likelihood could/should provide a net return that dwarfs trading profits. Meantime maybe a less antagonistic approach if you're covering long and short positions/outlook, you won't make sense to others when you're looking left and right at the same time.

Redbox,

Having posted this message 3 weeks ago . . . .

'Still holding in the Redbox house.

A setback of course, but personally not one that can't be fixed fairly swiftly. The shareprice will recover once drill depth is finally reached.

It has been at these levels many times and recovered. In my estimation we have NEVER been closer to the prize.

I am keeping the belief.'

. . . . what happened then to this belief? There's been no untoward news and no news was expected in this short timeframe so, be honest, why the 180 degree turn in such a short timeframe?
Perhaps you think that your input undermines investors' confidence improving your chance of a trading pot gain!?
No, you can't be that daft, surely not but you should certainly question what direction you're trying to follow if you're going public with your thoughts.

The Company is allocating GBP100,000 for outsourcing the preparation of a Data Room for legal, technical and commercial due diligence purposes for interested parties.
So have Theseus as equal partners contributed 50% of this cost?
I doubt it but if not, why not?

Seeing as we don't know the spud date how can we possibly judge what's quick news and what's delayed.

seabright, KeithOz posted an excellent breakdown of the different MOU locations entitled MOU-what? on 25/11 as it had become quite confusing.
MOU-NE did become MOU-3 before it was put on hold, instead MOU-5 as was became the new MOU-3
Keith outlined the changes admirably.