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My observation, from the outside, of PG's managerial style is of someone who is bombastic and like quite a few other PIs on here, wanting to say things to please the crowd, without fact or confirmation.
EG, the 7TCF number. Not in the ITR. Jimmy's post nails it.
Like the throwaway remark about selling up to PE. Er, what? Where did that one come from?
Like the "sell up by the end of Summer 2023" Roast chat throwaway comment. Why say it if you haven't got any reasonable chance of securing a good deal.
I'm afraid PG runs a very small ship, rather more like a boat actually, undermanned and undermanaged, and very vulnerable to the choppy seas and pirates lurking out there. That's my biggest worry about PRD.
Last question, whilst PG was referring to a 7Tcf prize, did he actually state that an amended drilling licence has been procured yet? Seems much more important in the sequence of matters here. No point in projections if someone else can claim the prize one day.
Just goes to show how overvalued and hyped up THX was back at its UK IPO. £130mn for an explorer/developer at that time?
So let's get this right.
A certain ROB thinks PG is being played by the "Big Boys".
We PIs have been played by PG, for placing after placing.
Quite a menage a trois.
And the T&T oil cash flows look back-ended in 2024 onwards now, so goodbye funding for MOU-5. Another placing by mid-year is the question that needs to be asked tonight, but which will be summarily dismissed.
Amendment #4 applied for on 23/1/24. Still not granted. Why not? What is holding it up?
Sorry, a mC of £25mn with 1.4bn shares o/s after this heavily diluting placing. Way, way over valued.
It's no wonder the Swedish PF are selling out. They can see the way funds have been frittered away by NvS and will continue to be. The numbers speak for themselves. At a £12mn MC this company is still way over valued.
Lol. Cashed up to spend on anything this bod likes, including fat cat salaries and perks. What a joke.
Surprised there hasn't been any officially released news from Predator before the presentation meeting tomorrow. Of course there is tomorrow to update timing of flow testing, rig availability and Amendment #4 being sanctioned, but all rather last minute in that case. I really can't see the purpose of the presentation, without new data confirming commerciality and scale.
Or should it be, which is your least preferred, from questionable leaders, each, judged by their past histories.
Both now offer an exploration play on the upcoming hot Cu prospective areas of NW Zambia. Both have links to AA who has expressed a desire to get back into Zambia, chasing large Cu deposits.
But....arguably is XTR better, with a £8mn MC vs £25mn, and an asset in Oz currently mothballed but potentially worth the current MC alone?
Both are cashed up for the initial Phase 1 drilling programs, at a minimum, with significant retained ownership.
Both are highly speculative, dependent on success with the drillbit and their geologists' knowledge, to make real wealth creation that way, and that way alone.
Let's hope that CM, at least, is proceeding on schedule so there is no push back in planned cash flows to fund more drilling at Guercif without more dilution. Somehow I am not expecting good news on that front next week, however it is dressed up.
DTEW, do you think your pleas for total focus on getting AV6k through CTs asap has the full backing of the bod?
Sieveco, with respect, I do believe you have acted emotionally, not objectively, in dumping your holding at this juncture, no matter how painful it is for shareholders.
The real acid test of Avacta's proprietary tech will show through in the data, and not through various phrases proposing excellence or ground breaking research.
So we wait. Meanwhile the sp will slumber until the data confirm the promise. That is what long term investing is all about.
Manica was a bad, bad investment by CB and I am sorry for all those PIs who invested money, time and psychological support for XTR during those years of watching, waiting, praying for a positive outcome. I was there part way along that journey but got disillusioned with the constant delays and weather blaming.
Honestly, I think the decision to sell up and get real cash out of the situation over the next 3 years (if all goes to plan) is the very best solution, especially if the drillbit in NW Zambia does its thing. I know it means pinning faith in CB and his geologist team again, but they didn't do too badly at BR, did they? True, not the big sale to AA that everyone hoped for, but for a while it looked like a strong chance of proving up enough Cu. Surely BR has residual value and with a stronger Cu price in the next global upswig, a cash sale can be concluded. A value support to the sp here, with all to play for on the upside, cashed up, in NW Zambia.
I'm back in.
Indeed. That little furry earlier this week does seem to have elicited more sideline sellers to come out of the woodwork. The distribution stage hasn't finished yet, it seems.
....and now we know who sold down.
"Different reserviors types but there is clearly a chance all three wells here are fubar, what percentage that is anybody's guess. The risk here has increased as perforating guns have failed and it's all eggs in the sand jet basket."
That's exactly my concern here, also, after the last testing failure. And no-one, no matter how clued up or experienced in the O&G sector, can deny the increased, non-trivial risk that sandjetting might not be the answer to Predator's down-hole issues at Guercif. I wish....
Another 10k bought, at 69.5p just now.
Jees, this sell-off is massacring folks, and needs some company explanation now, otherwise PIs will start to question the whole platform premise rather than just a bog standard placing reason.
Trust no-one or nothing except what comes from company RNSs.
Jimmy, do you know if SDX actually used sandjetting to overcome this problem? I'm trying to understand the COS factor with this tech approach. Management is confident, but not "very" confident that they can get through the drilling fluids thickness and flow test, but what if the thickness remains too thick even for sandjetting?
Kas/anyone,
I note the benefits below of using sandjet perforating technology to "offer a cost-efficient, safer and better-targeted alternative to hydraulic fracturing to bypassing deep near-wellbore damage."
Are the benefits a given, to test zones successfully, or is this only as good as the experience and quality of the O&G team using it, and so could still fail? As I see it, all depends now on this last piece of tech to demonstrate commerciality of a CNG operation, using existing funds at any rate. High high reward, but also higher risk than before, eh?