Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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?
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.
Naturally lots of different opinions re the above but I'd have preferred PG sticking to his message 15/12 last year, namely
'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. Maintaining an equity position in a dedicated CO2 EOR services company with a technical advisory role is the Company's preferred business strategy going forward into 2022, particularly as Trinidad is currently suffering a new COVID wave.'
Since then numerous mentions of Lease Operators stepping in, but still nothing firm. For essentially a two man outfit why venture deeper into troublesome territory that prompted a disposal intention two years ago (we know why that didn't happen) instead of pure concentrated effort towards Morocco and Ireland successes.
That was PG's thinking, it should remain the case. He's 69 on Jan 4, not old and not young, time to chase the winners not the maybes.
This unusual recession requires fresh thinking to protect the least well-off
by Cormac Lucey
Sunday September 04 2022, The Sunday Times
This article, an economic outlook for Ireland, included –
‘Paul Griffiths, chief executive of Mag Mell Energy Ireland, called on Eamon Ryan last week to explain his continued non-dialogue with energy companies offering solutions to ease pressure on supply. His company proposes to set up two low-footprint vessels — floating storage and regasification units — and establish a mooring point 50km off the Cork coast, linking to the Kinsale gas pipeline to store liquefied natural gas. But our minister for the environment, climate and communications — anything but energy — is too busy to meet. Griffiths also wants the renewal of existing licences that have not been deployed for exploration of gas, and for the decommissioning of the Kinsale gas pipeline to be taken off the table.’
(Courtesy of Flagstaff)
Everyone has in past life a story to tell, brushes, and that's all they are, with Names without which, of course, there's no story to relate.
Folk, especially the elderly which certainly includes myself, tend to backwards gaze and to an extent seek to impress total strangers. No real harm but, on a financial thread, no real point.
So I won't mention my meetings and conversations with the Bee Gees, Lulu, David Crosby, Slade, The Who, Rory Gallagher, 10cc, James Last, Pavarotti, Herbert von Karajan, Billy Connolly, Neil Sedaka - to name but a few..
All in the past.
My interest now is solely the success of Predator and a more secure retirement, ie the immediate future, I hope., for an awful lot of us.
PS. with apologies to Redbox.
It should be of interest to see who takes up and re-prints yesterday's Final Mag Mell press release and any resulting developments, pressures applied.
It sent an unequivocal message, there's our customised solution to helpfully assist Ireland's energy problem, take it or leave it, we're not spending any more time and money in the absence of firm government interest returned.
And so the ball remains very much in their court.
From Flagstaff:
I thought this press release issued in Ireland today might be of interest :
A major public inquiry may be required into the lack of Government engagement with viable options which could have prevented Ireland’s mounting energy crisis. That’s according to CEO of Mag Mell Energy Ireland, Paul Griffiths, who today (30.08.22) called on Minister Eamon Ryan TD to explain his continued non-dialogue with energy companies putting forward solutions to ease pressure on supply.
Key decisions Mag Mell Energy Ireland has been calling on the Minister to engage on include:
• The renewal of existing licences that have not been deployed for exploration of gas.
• Decommissioning of the Kinsale Gas Pipeline to be taken off the table.
• Approval for a gas storage project proposed for Ram Head, Co. Cork.
• Government buy-in to the offshore importation of non-fracked LNG via Kinsale.
The accompanying press release came as a PDF which, I'm sorry, I can't convert to here, timed obviously for today's appearance by Ryan before the Oireachtas Committee on Environmental issues.
Strongly critical as you'd expect, almost make or break for Mag Mell.
NH, out of the 7 dwarfs I'd put you as Dopey, me I'm definitely Sleepy and Redbox perfect as Grumpy.
Others can fight over the other four, Bashful, Happy?, Sneezy and ... is there a Doc in the house?
Him of total knowledge and perfection is of course for ever more Snow White.