Member Info for rhwillcoll

It is superb to witness the speed with which PRD is progressing on all fronts, and also the excellent partnerships that they have in three different countries. I am a "newish" investor in PRD (less than a year), so what I am saying should perhaps be taken with a grain of salt.

My question, in relation to GRH's recent post (Cove ++), is it at all possible that one or more very large entities are interested in the purchase of the WHOLE of PRD, or indeed eg the WHOLE of its Moroccan assets, in the relatively near future?

PRD is on a super-fast mission of appraisal on all fronts. Either way for we investors, it is a "win-win" situation. But my question is: could this be in relation to the sale of the "whole works" or even "part works" rather than a steady roll-out?

It is quite clear to me, as a non-technical, that we have "astounding assets". Some very large entities would, perhaps, be looking carefully at what has already been discovered and have reached the same conclusion.

Either way, I am delighted to be invested here, and this company, imo, is in a league of its own.

I am greatly looking forward to the coming days, and weeks.

I do like the following statement from the recent PRD RNS:

"The discretionary drilling programme may have to be aligned with a requirement to further develop the CNG industrial gas market above the 50 mm cfgpd cap set in the Afriquia Gaz Collaboration Agreement". "Further "is interesting, imho.

Again, many thanks to the excellent posters, both here and on X, who really know about gas exploration, especially the geological aspects - but commercial ones as well.

I genuinely think that a deal (or deals) will occur in the first quarter, maybe even January.

Would prefer to see a "knock-out" price. I can hardly believe that AVCT, being such a "paradigm shift" in cancer therapy, is available at such a low price. Thank you for all the great research, including on X. This company, imho, is the real "big one" for 2024. If I as in charge of Novartis, I would simply "go for it".

HNY to all.

Jimmy,

Thank you for your great answer which is much appreciated. Kind regards.

My apologies for asking what is perhaps a very basic question. If the Morocco assets contain a number of Vugs, then what does that mean in relation to gas production? What do vugs indicate in relation to the gas kitchen? Many thanks.

Pleased to filter WarrenBurrett. But THANK YOU for the mainly excellent other posts on here!

Shakyerbooty, many thanks for your reply, much appreciated.

All the best.

Maybe this is a simple question, but why do we think that this gas deal is subject to a cap on deliveries? Does it suggest another buyer for the gas within Morocco?

"The deal is set to run for between 8 and 10 years, at a fixed purchase price. Increased deliveries will be subject to a cap of 1.4 million cubic metres per day".

"Difficult" call here: do I believe the Fox-Davies professional note giving 35p and its reasons, plus all those buys at present, or do I believe the trolls who really haven't a clue?

Well, I am believing the genuine expertise here: the company itself, the genuine expertise on this board, the massive amount of gas in this "kitchen" and a slight delay of a month - rather than the trolls who are not doing a good job at all.

Just a little more patience, and considering buying some more.

With best wishes to all genuine investors here.

Please see Keith's post of 16 October. I provide a synopsis below:

The CNG strategy involves PRD trucking relatively small amounts of gas to end users, who would be industrial users in various parts of Morocco. The pilot project was designed to minimise capital risk by starting small - up to 10mmcfgd in the first couple of years - then increasing production in line with growing demand - the industrial market requirements were thought to be a maximum of 50mmcfgd. PRD now have strong interest from a major buyer (or buyers) wishing to buy gas direct at the wellhead.

The previous testing strategy was to confirm sufficient gas flow to satisfy this relatively small requirement. The current testing is to ensure that sufficient gas can be produced to supply either Moroccan power stations (G2P) or European (G2EU) requirements. We are now talking about 250mmcfgd.

If the testing is successful PRD will be in a position to finalise contracts for the supply of between 5 times and 25 times the amount of gas per day than was envisaged only a couple of months ago.

That provides huge cashflow going forward, or alternatively a huge upfront payment for the acquisition by a third party of the producing assets.

My bit:

So, 250mmcfgd. How much is that worth? Apparently that will provide $600 mn post tax profit per year. Say conservative x8 P/E, that gives $4,800 per year, around £5 per share.

Then add on gas to power, pipelined gas to Europe, and probably at least 25TCF in the "gas kitchen".

To me, this looks massive. I am in agreement with Ibiza, unless the above can be contradicted factually.

My best wishes to all.

Nice to see those large delayed buys, eg 300k plus.

Not at all surprising, given the massive news quite soon. Sounds like MOU is in place and, from satellite imaging, that rigless testing on four wells has been underway for a while. I agree that this is a huge find, from all the research. I'm very excited, and my sincere thanks for all the expertise which has been generously shared with us.

Hi Cheshirelad,

You may be correct re GRH post today, but just to say that he has just re-posted it 15 minutes ago.

Anyway, Tempus Fugit either way, PRD is in the final furlong of this one-horse race.

I still go back to those recent share options, as others have wisely posted on here:

1. Fifty percent (50%) of the Options (1,500,000) will vest upon the release of an RNS in respect of the rigless testing results for the Guercif Licence.

2. Fifty percent upon the release of an RNS in respect of the completion of the acquisition of TRex Holdings Trinidad Limited and the Cory Moruga project.

They must have been really sure of an early outcome of both of the above. Obviously we have already had 2. above. I am anticipating 1. in the near future.

Hi Razorman. Interesting hypothesis. I guess an outright sale is possible, either way quite soon.

I am looking for £20 per share minimum re Morocco. I suspect even more. PG hasn't done all this for just 30p! The amount of gas here is absolutely massive. Looking at the facts and the sheer quantity of gas.

ATB, RW

Dear Guys, many thanks for your answers to my question. That is much appreciated.

Thank you for some great posts on here, and on X. Superb technical input by some trustworthy experts in the field. I am very positive about this company. I also agree: having plenty of cash in the bank means that PRD won't be messed around/taken advantage of. I was really impressed by the shrewd deal that PG did re Trinidad. I also think that we are about to see a massive deal re Morocco. I have loaded up at these great prices.

I have a query re the 7 Nov RNS excellent Trinidad deal. PG says:

"Cory Moruga will provide newsflow over the next 12 months but most significantly creates the opportunity for cash flow in 2024 to protect against difficult market conditions and negative investor sentiment caused by uncertainty generated by regional conflicts and poorer global economic performance"

Yes, I understand that the Trinidad deal will provide newsflow and cash flow over the next 12 months. That is great. What I don't understand is that re newsflow next year, Morocco wasn't mentioned. Maybe it was because this RNS was solely in relation to the Trinidad deal. But does it also indicate that PRD's Morocco assets will have been completely sold before then? That is, are we about to have a deal which totally buys out our stake in Morocco? Perhaps not. What do you guys think? A genuine question, and many thanks.

I have only invested here fairly recently. To be honest, I thought that today's RNS re the successful T and T deal was excellent. Paul's deal-making abilities seem to me to be superb, as seen by today's comments and share price on the CEG LSE message board. This was manifestly an excellent deal and full marks to the PRD team. There are an awful lot of posters here today with derisory comments. I would like to filter them all.

I don't think it will be at all long before we have a successful commercial deal in Morocco. These things take time, especially when dealing with multiple parties. Probably several Governments, let alone major companies.

This is just a random thought: does anyone think that the T and T deal and the Moroccan one could both be of interest to a third party? That is, they would like to buy out both? Just a thought, and probably way out.

No problem re presence of gas in Morocco: it is absolutely massive. Just look at recent interviews etc with PG, this year's RNSs and the data on the company website. It is all there. Also, the same with T and T. So, principally this is about making good deals and a matter of negotiations at a very high level, and not the presence of eg gas flows.

This is a great company with superb management. Thank you Mr Griffiths and team: I take my hat off to you.

Footandmouth has correctly posted what "CUBE" posted on twitter just nine hours ago. I am writing for the sake of truth and accuracy, and it is the direct opposite of what InJameswetrust has strongly implied in his 8.07 "Cubist Perspective".

#PRD

Perhaps I am the only one who feels PRDs recent placing was excellent.

No debt.

10m liquid in an illiquid market.

Full field equity (minus ONHYM)

Full control.

CPR due.

MOU5 pending.

160m sand+

Overpressured.

Fill your boots just above placing price?

*HUGE*

🦖

_CUBE_

Interesting, from 18 March 2021 RNS:

Paul Griffiths, CEO of Predator Oil & Gas Holdings Plc commented:

"The eagerly awaited receipt of the CNG scoping development design and capital and operating costs has demonstrated a simple path to early monetisation of gas from the Guercif area. It provides the input data necessary to help expedite a Plan of Development submission based on a potential gas discovery and required for the Environmental Impact Assessment. The development option is simple, easily managed and requires very low levels of capital to generate near-term gas revenues. Importing specialist haulage vehicles and trailers and storage capacity are the only significant long-lead items. The potential for early and material revenue generation and profits is very exciting. Successfully executing a pilot CNG project will de-risk scalability and drive the potential to add large numbers of new industrial customers where no realistic alternatives to imported fuel oil currently exist.

I like it!

Neil, a big thank you from myself as well. I entirely agree with Cymru229. Your posts are very well researched and are much appreciated.

With best wishes