mario that very possible that Paul is playing the two against each other....shall we do normal with explosive....or shall we do sandjet........who is offering the biggest discount ??
let them fight it out whilst Paul allegedly "sorts" the MOU........ |
Much of Paul's time will have been taken up sorting out Trinidad and we knew it was on the cards. Now it is done. MOU for offtake cannot be that difficult compared to the legals from Trinidad so I would expect MOU's to be nearing completion and RNS'ed shortly.
Don't be too surprised if we will be on a whole new schedule of sandjet testing only. The French testers probably pleaded with PG (US pressure) to reschedule the entire thing. It is cheaper and probably makes commercial sense avoiding conflict with the French team. |
The force is strong here.
A few straws being grabbed today.
Nothing has changed.
Or has it?
Until the RNS yesterday testing was near completion.
Until the RNS yesterday there was either 1.8 Tcf or 5.4 Tcf or 19 Tcf or 90 Tcf to be valued.
Until the RNS yesterday there were multiple major oil companies and concert parties lining up to pay billions of dollars for the company.
Until the RNS yesterday it was simply a matter of whether shareholders wanted it all upfront or a special dividend.
Until the RNS yesterday the company wasn't going to spend most of the next few years having to scramble about trying to get dribbles of oil out of the ground in Trinidad to help pay for inevitable future cash raises.
Now I'm not too sure.
I was a £42 person.
Until the RNS yesterday.
I've lost £41.94.
That's what being inbred does for you.
Be careful. |
In July Paul raised GBP 10 million from investors including my small contribution with the promise of a comprehensive rigless testing programme. Immediately. Wish he had informed that a mere MOU will delay that testing .Not to mention the rns of 5 weeks back that testing was starting by the 16th of Oct |
Yes I think it is appalling he did not update on 16/10 about that |
Yes...but what it means is simply that the moment the flow test is good, the MOU already agrees the commercial side and everything moves forward asap.
If they flow test today, but have to offtake agreement.........whats the point ? Cannot produce, cannot sell............
So whats wrong with getting the commercial agreement via an MOU in place first.....then go ahead and test and then move straight forward.
From a long term shareholders point of view...........it makes no difference.
I have been in PRD since Jan 2020 times when it was kicking the floor at 1.8p levels on the Covid crash......I am used to Paul chopping and changing his mind.
Those who sold out and moaned of no testing in 2021 at 5p - missed the rise to 20p in 2023.
Think about that....they missed a 4 bagger in 24 months. Where can you get 400% return in 24 months elsewhere.
Trust in Paul.........he delivers.......but expect things to chop and change all the time. |
How can you have a commercial agreement until you have a MOU?As you need the agreement in place to then produce the gas!The MOU would say agree to buy IF you can deliver!PRD are very confident they can deliver but the other party needs that to be fact not belief and then it becomes a commercial agreement |
Buffman, you said it better than I did.And Pro the latest excuse is NOT a "commercial agreement " but an MOU for one. There is a big difference between the."One final element in relation to our business development strategy for Morocco is the execution of a potential Memorandum of Understanding for gas sales. "As a long term shareholder am now beginning to doubt anything Paul promises. |
'Paul' is obviously paranoid about day traders and investors in general, and his outlook is totally alien to what a free market is all about! |
Are you OK Helpfull? |
For everyone whinging here… If you saw the presentations… PG said trust in the management.
If you see a buy of the Moroccan assets or the Irish assets or even the T and T assets at some point…. The price will not be set by traders or the market… It will be set by asset value…. All depends on what your investment timescale is… |
The force is strong here.
"but doubtless the NEDs will have noted another sharp drop in the share price"
It is interesting to note the coincidence that the NEDs were issued with share options on 16th October 2023.
The same date that testing was supposed to start:
"Rigless testing MOU-3 using conventional perforating guns is currently forecast to begin on or before 16 October 2023, assuming that the wireline logging unit is released from its present contract on or before 10 October 2023. The Company will provide an update if there is any change to this date"
Be careful. |
Pro, you are ducking the point about shareholder trust. PIs were led to assume that testing would have started by 16 October. PG didn't correct this assumption until early November.
Testing is postponed again and again, different reasons each time. Is this sinister?
I'd give him the benefit of the doubt on this, but doubtless the NEDs will have noted another sharp drop in the share price. |
On the flip side Paul has repeatedly said all situations are fluid and can change all the time, anytime.
He has also said he will do what is best for long term shareholders. He aint interested in spread betters and day traders.
What comes ahead should now be the Commercial agreement first....then testing.......
Fine by me....I dont mind waiting. |
What's happening now with PRD is that more and investors are losing trust in Paul. I can understand as last night I went through several rns and interviews he did over the last few months.Trust in the ceo's words and plans is very important for any company |
Chewing gum and string outfit! |
i see no logical reason to delay testing unless onhym have pg in a headlock
'A memorandum of understanding (MOU) is a cooperative agreement between two parties that can include general terms and goals and is not intended to be legally binding' |
 The force is strong here.
And finally a (decisive?) break out of those tight Bollies.
Only in not the direction first thought by many:
free stock charts from uk.advfn.com
The lower Bollie Band and the downward trendline are breached. Expect further weakness and compounding falls in the next few days for confirmation. A higher volume today.
The share price dropped down through the 45 day and 15 day moving averages and the lower downward trendline. All three averages (15, 45 and 100 day) are turning lower and a death cross is being formed:
free stock charts from uk.advfn.com
The share has gone from a multi-Tcf company to a "100 to 200 bopd" company, in a matter of days.
Not what shareholders signed up to.
What is the need for dribbles of oil to:
"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"
if the company is going to be sold for billions?
It seems Predator might be being waylaid by events in the Middle East.
It might be waylaid for a very long time, if true.
Some thought this share might be worth many pounds. One fool was a £42 person.
5p-6p might need to be visited first.
Be careful. |
Today’s RNS has been disappointing as reflected in the share price.
Definitive RNS needed urgently about testing.
Funds raised to test and $1m gone elsewhere. Company brokers should be policing this. Perhaps more news to come.
I am sure PG knows what he is doing but all we know is what we are fed and if there is something good they can say it ought to come out. ONHYM may need comfort so must be a way of giving that so testing can commence.
Quite sure there is nothing “iffy” however. |
He's sailing close to the wind, he's becalmed.
You couldn't make this up, I have to admit I sold up when it spiked last summer but I had wondered if I wasn't too hasty. Then I remembered the first drill and thanked my lucky stars I got out. Where has the 1m come from, the testing kitty? Is this why he wants to sell the gas before he's tested to see if it's really there?
At least he's a T-Rex fan! |
you can't assume anything with these guys, but i took this as a small comfort - 'Everything is in place and all approvals have been received to commence testing'
'everything' inc testing team? |
I agree purple. All very flaky imo. I've just read through comments on the other site and seems even previously loyal shareholders with millions of shares (allegedly) are becoming increasingly frustrated and distrustful of anything PG says. I don't understand how he say in black and white he's raised millions of pounds for testing, give dates etc and then issue a totally unrelated RNS about yet another jam tomorrow project with a para tagged on the end re Morocco testing. Surely he's sailing a bit close to the wind? Something smells not right to me here. |
john henry
its just a delay tactic .mou being pushed down the road because it will highly likely be a failure.
this company is very dodgy imo.i dont believe a word the wee man says |
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