The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Looks like this move by Char explains the rush by PG to get drilling asap at MOU-4. I'm pretty sure the bush telegraph works very well in a small O&G community in Morocco. It's turning into quite a race to develop the first sizeable onshore CNG operation.
No price on A J Bell to sell.
Cj62, you mean 4 months after the end of P1a, surely.
Super impressive analysis, @Keith.
So even getting to a base 10mmcfgd CNG operation, there is upside to 23p. Makes you wonder why Mr Market is still leaving so much on the plate for low hanging fruit.
Now, my question to you, Keith, is, how much of that potential upside, to £5/sh, would a well-financed large acquisitor allow PRD to retain from a G2P and G2EU major investment project?
Good evening Jimmy,
I'm no O&G specialist, unlike you or @Keith, but can you please explain how Prd can't access Rbl type borrowing to progress a 10mmcfpd CNG operation, without 3D seismic, but with strong flow testing numbers and a revised CPR? That was @Keith's opinion, I believe.
That would be one of the biggest pay-offs for blackmailers in corporate history.
Another suspicious character for the filter button. Life is too short to waste on garrulous nonentities.
As I sit here watching Channel 4 News leading story about how AI is changing our entire world, is this a tool that PRD uses already? If not, are PG and Lonny considering it?
Hi Mick,
It's not the number per se, although rarely do UK-listed minnows go up near 100 times in a full move (Gkp excepted!). It's the mindset that goes with it, duplicated many times on a BB before any firm reserve or flow data have been produced.
Been there, done that, a few times before. Char in the last pre-GFC O&G boom, Eco in Guyana pre-spud, i3e with Serenity in the NS.....
One left field event I think PRD should dodge in Morocco is water shortage and environmental permitting. Feel sorry for patient shareholders of Emmerson yesterday.
https://www.lse.co.uk/rns/EML/q2-update-0hygvaqv11mh42c.html
One of the surest signs that PI sentiment is running way ahead of reality is when crazy buyout numbers are being actively discussed. Can't stop free speech, but if something went awry here......
Everyone should understand fully his/her own level of risk for left field events. Hope I'm wrong, I really do.
I still day 20p on re-listing, if it ever does get re-listed. The news simply does not get any better as each day goes by, with July 31st far approaching.
Just looked at two of the minnows you are pumping, RRR and KAV.
One thing is for sure, you have absolutely no eye for quality on the long side. These two p.o.s. have had a rather chequered history, to say the least, and now have a combined MC of £12mn, no more. That says it all.
If you really want a resource stock that is going places, look no further than Predator Oil, PRD.
But if you want a game changing UK-listed biotech, then I urge you to look beyond your nose that only thinks about one thing, funding, and discover the essence of the fundamental story here, which undoubtedly will endure far longer and greater than your tinpot long names.
Otherwise, you are a waste of space, sir, and filtered accordingly.
I'd rather they came out now than into news of signing the DFC deal on another news spike.
A shame Livermore committed suicide.
At some stage in the next 50 days, $1mn to pay Challenger on completion of the CM transfer, then another $1mn six months after that.
And the Tanzanian regulatory authorities continue with their hands tied spirit of business.
Taking a step back from the shock news about the dividend cut, I note the following:
1. " Despite the downtime, the Company's approved capital programme is forecast to deliver production growth of up to 3% on a year over year basis (adjusting for planned turnarounds, curtailments and downtime associated with the wildfires, i3's 2023 revised production forecast would have been expected to deliver approximately 7% year-over-year growth)."
So i3e can no longer regarded as a safe GROWTH mid-cap Canadian O&G company. Despite the posts about the fabulous reserves and land ownership, 3% total growth is just treading water. How does that happen, with the previous capex plan and mouth-watering acreage?
2. I assume that the conservative, straight-line debt amortisation now in place is an expense item to be deducted from the NOI before calculation of the available cash to be distributed under the 1/3rd rule. This explains the dividend halving. The upside, for longer term shareholders, is that with a fair wind in terms of oil and gas pricing, and some modest growth in production from existing land, the ability to pay an increased dividend will possibility as we get closer to full repayment of the loan. The market will start to discount that 3-year debt window.
3. With forecasts of rising oil and gas prices into this Winter season made by many, not just here but with the Canadian expert (?) Nuttall, there is some room to expect that the current dividend rate is a floor, not a ceiling, going forward.
At 12.7p, that is a forward looking 8% gross yield, where we were a year ago and most of us were happy at that.
So I'm holding my position on that basis. Any upside corporate transaction would be a bonus but I'm not counting on it.
Jive_t, PL75, excellent.
It does really seem that AV6000 is just a waiting game, even at this early stage of the CT regulatory process. There may be other chemicals out there, at various stages of being tested without compelling evidence so far that they may become a new overnight SOC, so the value recognition should come progressively, as P1b gets underway.
But a licensing deal in the meantime would surely help with the funding predicament, especially if there is a C7 DE phase stretching into 2024.
GRH, one big difference between Shaikan then, and Guercif now, is that no longer do you have a company-making or breaking difference of opinion with management and key shareholders.