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@gg
The placing is "complex" because we're main market listed and can't just issue shares like aim companies.
Mou3 drill in May and mou1 test before then. No information on mou2 is poor comms from Paul, again.
The only positives for me is mou3 is cheaper to drill and appears we do have existing funding for mou1/2 completion. 5.5p isn't a stupidly low price.
Maybe the recent bank runs have changed things and paul believes cash in the bank is best at this point.
I've emailed the company to express my views on lack of mou2 comms.
"Options for the implementation of the next stage of drilling operations in Guercif are in the process of being finalised but are unlikely to be completed before the rigless MOU-1 well testing commences."
Paul is reffering to mou 2. It's yet to finish drilling and so it makes sense it is the next drilling objective and they're waiting to finalise their re-entry plan. They have options and so mudwork should be complete in labs.
Both brokers have exercised warrants previously and forward sold. Probably those 500k block sells last week.
Like Keith said, they had to exercise the warrants or miss out on easy money as they would've expired.
It's 2mil shares only, no biggie.
People selling because a broker exercised some warrants really are weak hands.
Shame about PANR, I never bought into the story but it's never nice to see fellow investors lose out.
Compare the 2 companies rns. Paul has always provided all the technical data from the wells and explained it to us in a follow up interview. He didnt need, it goes to show his confidence in our data.
The plan was to test them together and prove up the linkage and predrill hypothesis on the field. Paul got what he wanted from mou1 to make him confident to go drill mou2. Now mou2 has a delay he has decided to test mou1 to unlock financing options whilst they wait on mou2. To me that appears logical, it wasn't the original plan but it's making best use of it.
You've interpreted it as mou1 is a duster, so paul depsite knowing this is chancing on mou2, mou2 is stuck and so now he has decided to test mou1 and prove up it's a duster. In the off chance it proves up commercial, Paul will take a break and not commercialise. He will also Ignore mou2 as well despite proving up mou1 is commercial.
I suppose balance is good
Mem
I have no interest in meeting you, I have better things to do with my time. It's ridulous you presumed I want to meet with you.
You're acting in your lone capacity. Many folks acting individually can have a collective affect. You're already aware of that so why am I telling you.
As a single person no. But joining the trolls when a delay rns is published helps drive fear in a tiny mcap and thinly traded stock. It only takes 30k shares for mms to move sp.
Everyone here has you figured out already. What's ridiculous is your lack of shame.
Jimmy if mou1 flows no one will care about funding.
Like Paul has said there will be plenty of options for funding after that.
In the unlikely scanerio it meant a placing that would be at a much higher sp. Paul is not going give away shares for cheap this close to the goal.
Mem
"A massive clay seal capping a larger area, deeper, under high pressure, possibly significant larger volume of gas across a greater area…."
That was already known last week when you called for a 3p Placing. The sp is up 40% since then as well.
At mumbo
'I am not sure what the rig booking situation is like, it may get sent elsewhere if we are not able to produce something in time"
Information is out there. Paul said we have it for months. Sdx has no short term plans. Rig stays in morroco.
Mumbo
You want to dilute yourself 25% to presumably overpay to try get there quicker or just incase something goes majorly wrong? Even though mou1 test results are next.
Sorry but that is ridiculous.
clearly not an investor.
Mumbo what if an earthquake happened and the well collapsed?
What if whilst you worry about what ifs the company successfully passes the seal and hits the target?
Mudwork isn't my expertise but if those experienced in the sector are not worried and buying, why are u so worried?
If a placing was carried out it would be a small amount at a higher sp. As you worry the sp has goen from 4p to 6p.