Member Info for Obadhia

Surely the expectation must be that the T&T business ends up with Massy or a Massy/Heritage combine. Not only do they control the supply of CO2 but install and operate the delivery systems. The exclusivity of supply to PRD is relatively short and seems to operate on a 12 month extension deal making the whole business, in my mind, less attractive to any outside company when the most vital component is not owned outright by the seller.
Agree with stub equity likelihood.

Tim, I share your concerns, particularly the 'round trips' scenario of rags to riches to rags and so I should having been involved with BPC and losing £80K (now all retrieved thanks to PRD performance). Potter was totally convinced commercial quantities of oil existed off Bahamas, maybe they do but yet to be found. Equally PG is totally convinced our Morocco field has the best chance he's seen in 40 years odd of a successful find and, not to labour the point, my respect for his leadership far outweighs that of Potter.
Any investment, of course, is a gamble of varying degrees, I take heart in the fact that there are two hefty backstops present in the possibility of Moroccan disappointment and we all know the potential of the other two projects.
I will remain invested until the whole PRD story unfolds, I reckon MEM is not far off with his 18 months forecast.
GL with whatever you decide.

Mk111, do hope your wife doesn't get too upset when (actually if!) the Chiefs beat Leinster this weekend. Should be a great game.
Apologies to all non-rugby fans for off top., been a great week here for longs and so looking forward to imminent news on 1 or 3 fronts .... next week?

Thanks Androcles, a case of wine should help in forgetting my experience!

Useful to know Androcles. I've made a complete pig's ear of selling, transferring and re-buying thanks to HL not offering Bed & ISA and it's cost me just under 20,000 shares. Doubt whether I could have done all this in a worse manner.
But it's all done now and virtually all my holding now safe from nasty taxes. That's the positive thought I'll carry forward, together with the satisfaction of telling HL I'm transferring my ISA account to a competent, reliable broker that look after their clients interests.

HL are not offering bed & ISA this year due to claimed decreased staffing levels.

And yet they've a TV advertising campaign running at the moment to attract new clients.

Far from happy at the reduced level of service and may well change to another provider in the near future.

Bdt, especially for you ...

https://www.bbc.co.uk/news/av/uk-england-london-56375874

Bdt, just a random figure for one subsidiary monetised, as an example. As I said a pretty low figure from some posters' expectations. First to go according to PG supposedly T&T, but maybe he's fresh thoughts on that?

"Taxes on Dividend Reinvestment
Reinvesting dividends is the process of automatically using cash dividends to purchase additional stocks of the same company. If you choose to reinvest your dividends, you still have to pay taxes as though you actually received the cash."

The issue to consider with special dividends is that not everyone wants them due to tax reasons. They are taxed completely separate from CGT.
From April 2021 the personal allowance rises to £12570 but the dividend allowance stays at just £2,000. That could potentially result in some investors having to pay tax on their dividends on investments held outside of an ISA or SIPP wrapper.
As an example, say once you’ve filled up your ISA to the max £20K worth and you’re left with 100K in your share a/c. A 50p special dividend, deemed by many on here to be low ball, would result in £50K being added to your gross income and nudge you into higher rate tax band (40%) if you’re not already there.
Just imagine the problems of two special dividends paid in one FY! And as for PG with his 46 million no idea how he’ll get round this.
If there is a tax accountant following this thread would be more than grateful for their input.

BDT, I'm in the same boat as you and an awful lot of other folk planning on selling share a/c stock and transferring into ISA.
But I've no intention of adding to the bun fight we'll see on the 6th. when prices in all likelihood could be all over the place.
Why not wait a short while into the new FY and wait for calmer trading before selling and re-buying ?

Thanks for that link BDT, there's a lot of info on that site incl below ....

History of CO2 injection in Trinidad and Tobago

Trinidad and Tobago has been involved in the oil and gas industry for over a century. Our daily oil production has been declining since our peak in 1978 and our fields are now classified as mature. Many methods of Enhanced Oil Recovery have been attempted in Trinidad, including the injection of CO2. It was first tested in 1972 by Texaco in Guayaguayare and Brighton which then ramped up in 1974 in the Forest Reserve field. From 1975 to 2004, carbon dioxide was intermittently injected in the Upper Forest Formation and Upper Cruse Sands in the Forest Reserve field. From 1990 to 2000 CO2 was continuously injected in the Oropouche field. Approximately 1.26 million Metric Tons (24 Billion cubic feet) of CO2 were injected in both fields in total to recover 4 million barrels of oil, with a peak production of 812 bopd in Forest Reserve. A positive response to injection was observed in all projects within 6 months to 1 year of CO2 injection. (Mohammed-Singh , 2004) before Petrotrin permanently halted injection in 2004 after an explosion at the Point Lisas compressor station. In 2009, Krishna Persad and Associates (KPA) operated a small, 4 well, pilot CO2 project in the Barrackpore farmout, with quite modest results (Sinanan, B. 2016). Since the KPA pilot ended in 2010 no further CO2 injection occurred until May 2020 at a small pilot project operated by Columbus Energy in the Inniss-Trinity IPSC (Guayaguayare). As of December 2020, a positive response was observed while 70% of the 9 Metric tons/day of CO2 currently being continuously injected is forecast to be sequestered in the Herrera Sands. Future Inniss-Trinity expansion projects have the potential for additional recovery of up to 9 million barrels of oil. For more information on this project see: https://www.predatoroilandgas.com/operations/trinidad/#C02-Supply-Contract.

Since you deal in facts Bradleybear here's one for you.

It's a fact that you've just told no-one on here anything they didn't know already.

£20.1B Wacky's top whack, £8.1B applying to his lower estimate.

Referring back to thewackmiester's post 21/2 and his esteemed opinion that the MOU drill will prove up reserves of between 1640Bcf and 3733Bcf.
That, at US$10 per Mcf, and allowing for PRD's 75%, works out at £20.1Billion.
Mind boggling.

What a brilliant RNS, demonstrates yet again his utmost confidence in the future and superbly explained in detail many companies wouldn't explain in depth. And so soon after his last interview catching out those that sold yesterday, I hope.

Maybe RNS tomorrow re. new CO2 EOR Trinidad oil field?

Would add more than a little spice to Malcy's interview

Missing something here, PRD are would be gas suppliers and the ESB has announced they no longer are going ahead with 2 gas-fired power generators to address electricity shortage. Is that really good news for PRD or are we cheering because the decision just underlines the chronic need for Ireland to urgently address their energy needs?

Similar past history to me Nicodemus if I swap BLOE for BPC, all in PRD now for all the good reasons that are so well covered on this thread. The last 5 weeks have produced ...
+31.4%
+8.7%
+25.7%
+1.14%
+31.4%
and an incredibly fast return of the bulk of monies lost.
Proving yet again it never pays to sit in the middle of the road staring at headlights wondering what the hell happened and will it recover! PRD are most definitely in the fast lane.

Was once in a 700 bagger, ASC.
Bought 40K at 10p, sold at under £1, ten years later it touched £70.
Hard to forget that one!
Will see this one out to the end.