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Disagree with your interpretation davwal.
Once testing has taken place the results would be out in the open and could attract unwelcome attention/bids. Most of us on here expect exemplary results from MOU1 & 2.
But if we are sitting on an agreed deal in the form of a MOU a supply contract could be officialised simultaneously with test results.
For those that have been here less than a few months and struggle to post anything less than vitriolic remarks to those considered to be posting constructive comment consider PG’s message to shareholders RNS 15/12/21.
‘The Company's view is that it does not wish to be burdened with operating in Trinidad at the expense of efficiently managing it's potentially valuable assets in Morocco and Ireland where the potential for high-impact returns for shareholders are substantially greater’
Now, I’d be the first to admit that priorities, opportunities, focus all are prone to re-evaluation but when you own rights to such an incredibly huge and valuable asset such as our Moroccan licence why oh why stretch manpower and resources dog-legging to a part of the world notorious in which to conduct business profitably. Having suffered in LGO/CERP/BPC for 12 years and seen the difficulties, disappointments, delays, tax changes everything might look golden when unveiling the opportunity, MEEI support transformed etc., but reality soon overtakes. Had hoped this deal with CEG would break down and what was lost written off, lessons learned. IWP followed by FDP three years likely going on five, no thanks and very very few on here will stay the course. Differing enormously Ireland, Corrib South remains a great hope as an outright sell at some point.
I sincerely hope PG and Lonnie take note of the strength of feeling shown here today regarding communications with their shareholders because it’s very obvious credibility and belief has taken a severe tumble today. If you’re going to make assurances, keep them.
Four cables, each 3,800km long, form the twin 1.8GW HVDC subsea cable systems that will follow the shallow water route from the Moroccan site to a grid location in Great Britain, passing Spain, Portugal, and France.
Another example of UK's closeness of ties with Morocco.
https://xlinks.co/morocco-uk-power-project/
Excellent Book of the Week by Ed Conway on BBC Sounds broken down into 5 episodes each 14 minutes in length.
'An epic journey through the six materials we rely upon to build our world'
Sand/Salt/Iron & Copper/Oil & Gas/Lithium
Well worth a listen, https://www.bbc.co.uk/sounds/series/m001qm3h
Highly encouraging to read Ryan actually quoting Kinsale as a potential LNG storage facility, at last just reward for PG/LB's lobbying? Finally we should see the energy security review declared in October.
Got a warm feel that our prospects for Irish business are about to turn genuinely real.
Many thanks PT for coverage, all shaping up for a mind-blowing Autumn.
Your turn now Trinidad!
Even if the earthquake's overall impact on PRD's Moroccan business is slight to negligible I would expect PG to issue comment on Mon/Tues, re present and future activities together with sympathetic message to the Moroccan people.
....(other than hoping that all the would be vigilantes that have emerged will stfu and learn to ignore/filter the trolls) ....
Do hope I'm wrong but I do find somewhat disconcerting brokers' continuing readiness to accept sizeable offloads.
To where and to whom is the stock intended for?
I do take into account Sefton's experienced view on hostile bids but cannot discount the possibility of an operating concert party avoiding any TR1 notice, and limelight, until 30% (?) attained and declaration required.
You maybe convinced that PG would willingly fight off any such approach on behalf of his 'loyal shareholders' but with his sizeable holding, near enough £25M for an opportunistic 50p offer (plus, or not, stub equity etc) and the fact that 5 years ago it was a true penny share, he may take the view, rightly, that he has already made his true followers wealthy as promised.
As said, I hope this thought turns out incorrect because I, like many, work on £1 for round numbers minimum valuation as long as Moroccan assets can run to conclusion. GLA with the exception of trader trash that purport to be true investors.
You're certainly not wrong Zebra. Of course tin pot companies can't afford FDs but PRD are rapidly changing from that description and hopefully the autocracy that is commonplace with a majority owning founder dealing in an area best left to a professional. Maybe with the success we're all expecting a fit for purpose board can be afforded.
It's always bugged me that virtually all the NEDs associated with PRD have a history of senior corporate finance and have played key roles in this and that deal and yet there's only one road they ever take and that leads to Novum and an end result that leaves a poor taste in the mouth, and pocket.
I hope PG takes the general reaction to this last fund raise to heart, there's no point in saluting 'loyal shareholders' if actions then damage sentiment. But, no point dwelling, this sorry episode will be over and largely forgotten if not forgiven by the end of September.