Member Info for Spiritefan

While the delay in Morocco is frustrating, the deal in T&T has been significantly enhanced. The money owed by cash-strapped CEG to the MEEI for licence fees was a potential dealbreaker. As we are not cash strapped, we were able to come up with a solution that CEG could not refuse, despite the loss of the buyback option. This has clearly taken a great deal of negotiation from our very small SMT. Hopefully, in the longer term, it will prove to be time well spent.

CEG shareholders referring to revised deal as good news for PRD. A lot of criticism that their Board has negotiated future earnings away. CEG shares down.

Or within 3 days...?

Apologies. Meant to type "unpredictable" not "unprofitable"!

Doc, fully agree. Everyone must remember that this is AIM, the Wild West of investment trading. However, given that we are attempting to do business in Mongolia, which is arguably more unprofitable than the Wild West, the risks should not be underestimated. However, the rewards should we succeed, will be spectacular.

....and confidence is growing. More and more people will get to hear about PRD and encouraged by the excellent research of key contributors will conclude 20p, 25p, 30p represents a huge opportunity to invest.

Credit Rating Aa3 Moody's

Full employment

Negligible external debt,

Low crime

Well funded public schools

Beautiful scenery

Extensive sports and recreational facilities

5G

Extensive air and sea services

Come and see....!

CG - Thanks for posting this. A very interesting read and recommended to anyone who is thinking of listening to TW

We need confirmation of the costed plan that will result in the oil flowing and income accruing. That will calm the nerves.

A week ago, there were 2 major unknowns. Would we get the LP to allow the proven reserves to be exploited at Heron, and what would be the outcome of the Velociraptor exploration drill. We now know the outcome of both. Heron can commence, cash is available and equipment in the country. An exploration well is just that - its exploration. I'm v pleased that if we had to choose between one of the two, we got the LP . Things will move on, the oil will start to flow and the sp will respond.

Perhaps news of this had leaked on Friday?

For almost 24 hours I could bask in the comfort of seeing my investment in the blue. Ah well, if was nice while it lasted......

What is the limit for Avacta's shareholding in the jv? If this is the second milestone is there likely to be a third?

CEG have just released (another) RNS announcing the opening of (another) data room! It is a repeat of their statements relating to the apparent interest when they were seeking a farm in partner in the Bahamas. We all know the outcome of that!

The above company was incorporated on the IoM by Crowe Trust on 18th May 2023, company number 020889V. This was as a result of the visit to IoM by MB and reps from Mongolian Gov. To embark upon a jv of this nature does not suggest that the relationship between PM and the Mon Gov is in difficulty- just the reverse. Patience is needed!

Hi Ibiza, it was an intriguing meeting. I live on IoM and know the Government Dept well. To register a company on IoM you either need a local director or an official agent to be your representative. This is Crowe, whose boss was at the meeting. Therefore the agenda must have included transactions that required now, or in the future, the filing of official documents. Crowe would file these on our behalf. What these transactions are we do not know, but could include:

1. The establishment of a new JV company.

2. The registration of a charge or lien over assets of the company.

3. The appointment of new officers of the company.

I would have thought that the majority of these require a vote in favour at an AGM or EGM. Neither has taken place recently.

So we are left with some form of pre-event discussions, which were important enough to require senior officials from Mongolian government to travel to IoM with MB to meet Crowe and DFE reps. Intriguing!

Given the recent upward momentum and speculation regarding potential news, it is getting to the stage where it will be incumbent on the company to make a statement, even if it's "We know of no reason for current increase in share price, etc etc..."

I used to work at the Dept for Enterprise (previously Dept of Economic Dev) on IoM. I can verify the photos are taken at St George's House, Douglas and that the attendees include Minister Tim Johnson MHK, Peter Greenhill MLC ( Member of DfE with respect for finance) and senior civil servant Simon Pickering. While not unusual for DfE to receive delegates from overseas govts, the presence of our CEO and the boss of Crowe Trust indicates there has to have been a company specific agenda . Excellent work Master!

JJ, absolutely right. Without news to confirm LP this will keep sliding...

Is everyone still asleep? Thanks to Keith for more informative opinion and exciting news from PG!