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People invest for various reasons, buying a house, a new car, preparing for marriage, or supplementing their retirement savings, etc.
I invest with a focus on securing my family’s and children’s future. When individuals engage in tactics solely to manipulate stock prices, they effectively steal money away from my children. In my view, such behaviour represents the lowest moral and ethical standards.
If you recognize this activity in yourself, take a long, hard look in the mirror. At the end of the day, genuine friends and close family are invaluable. All the money in the world won’t buy you long-term happiness if those things are absent.
MrGMan…. excellent post, reminded me of something Wacky posted last November… shown below. I remember reading his thinking in respect of ‘…. generational wealth’
‘Well, What a day,
Certainly a day to remember.
Today is the Day we should celebrate as we have retained the ownership of our Company and expanded our Influence.
I really dont give a Flying F*rt about all the whinging Ninnies on here moaning becausing they wont be Millionaires by Xmas.
Tough Luck.
But I do care about the fact that I still have 100% of my investment and I have a better Chance now than ever of actually securing Generational Wealth.
The day this company was closed down by CEG over Inniss Trinity was a very dark day indeed.
We were in a great position, a really great position, we were on the cusp of becoming self sufficient and then out of the blue we are kicked out of Inniss Trinity for NO REASON. IT HAS NEVER BEEN REVEALED.
So ask yourself WHY CEG PULLED THE PLUG ?.
Why would they shoot themselves in the foot, because they would have had an income from Inniss Trinity also.
Any Ideas ??,
Thought they could get one over on us??/ Outside Influence ??
The One big thing it did do was restrict our progress across all projects and put us in the position of relying on others !
The plan has always been.
Trinidad pays for Morocco.
Morocco pays for Ireland.
This game we are in is Dirty, Nasty and takes no prisoners, Billions of Ponds/Dollars are at stake and the opposition out there will stop at nothing to get there hands on our License in Morocco, to either upbuild themselves or make sure it does not come to Market.
Paul and the team have played a Blinder by closing the CM deal, we are now back in the position where we dont have to rely on the cr*p shops for every move we want to make. We will be generating our own cash in 2024.
Certainly a Day to Remember
We wont lose the Guercif License for a pittance, unlike Sirius Minerals, remember them ?, massive world class resource, promised millions to its Shareholders, leveraged to the Hilt with no income to eventually be bought out by Anglo American for 4p on the Pound.
Sh*t Happens but not today.
Not for PRD.
AIMHO of course.
Wacky.’
Lancygeo,
Thank you for posting whacky comments.
In the post it’s stated that
“This game we are in is Dirty, Nasty and takes no prisoners, Billions of Ponds/Dollars are at stake and the opposition out there will stop at nothing to get there hands on our License in Morocco, to either upbuild themselves or make sure it does not come to Market”
There have been a number of posters here who suggest there is some major underhand strategy by unnamed parties to deny prd its Morocco licence. Please provide evidence of this stating what’s been done.
Prd, did secure a heads of agreement to sell its cng to a company owned by the prime minister of Morocco. That indeed was a very smart move and it’s hard to believe any third parties could undermine prd s licence in Morocco in such circumstances.
The only party that I can see that could influence the ministry is onhym .
Perhaps they are as frustrated as some prd shareholders about the delay in sand jet perforation.
Jimmy
Hi Jimmy,
I don’t find it plausible that ONHYM will be frustrated by the delays in PRD initiating sandjet perforation considering such delays have been caused, at least in part, by the Moroccan government itself:
“On 8 November 2023 PGVL was informed by ONHYM of an unforeseen administrative regulatory issue as a consequence of which the Joint Ministerial Order approving the Guercif Petroleum Agreement Amendment No.3 had yet to be issued.” [RNS 30/11/23]
And from the Proactive presentation in March:
“And we’ve heard a lot about difficulties in Morocco, and there were difficulties toward the end of last year in terms of the regulatory process. That wasn’t intentional, it was just new people at the Ministry had to liaise with the ONHYM people, and that proved to be longer for them to understand the process...”
Indeed, Paul actually mentioned what appears to be an excellent working relationship with ONHYM:
“… and now that is all progressing smoothly. So we’re very happy with the regulatory process in Morocco.”
So I’m sure PRD and ONHYM will be both be pulling in the same direction to allow operations to commence as soon as is practicable.
We all know that most things in the O&G industry take longer than expected, particularly in the post-pandemic environment of supply chain disruptions, exacerbated by the RUS-UKR war.
Just look at CHAR as an example, a company I know you are very familiar with. Anchois was discovered way back in 2009 and Anchois-2 was drilled in January 2022. The CEO (AP) initially announced a target for achieving first gas by the end of 2024 and it’s now looking like it’ll be 2027 at the earliest before production starts. (I think it’s also noteworthy that costs to first gas have also escalated from $300M to at least $800M) Are you suggesting that ONHYM will be equally frustrated by the significant delays and missed timelines (and huge capex increases) at CHAR too?
Troll
Need to try harder with positing FUD
We see you!!
BRV.
The post by wacky is suggesting that third parties are trying to undermine prd s licence in Morocco, without mentioning who or what such third parties are doing.
I am assuming the relationship with the prime ministers company as gas offtaker is excellent and as you suggest the relationship with onhym is excellent , so no other parties can interfere with their licence relationship.
Hence my question as to who is responsible and what are they doing.
Personally I think that prd may have too small a team in Morocco and or the strategy of persuing the lowest cost option can result in operational delays as suppliers seek the best terms.
Jimmy
Jimmy
AA does not exactly have a squeaky clean record. Look him up on Wikipedia.
To quote Jimmy - "Personally I think that prd may have too small a team in Morocco and or the strategy of persuing the lowest cost option can result in operational delays as suppliers seek the best terms."
I think that PRD have a perfectly adequate sized team in Morocco and the strategy of pursuing the lowest cost option can result in operational efficiency with suppliers when they have less layers of people to go through.
Look at the CHAR board of directors (all 11 of them) on their website...how many do they need? - and PRD have interests not just in Morocco but also Ireland and Trinidad and Tobago - how many directors would CHAR need if they had their fingers in more pies?
Jimmy you're doing yourself no favours by trying to big up CHAR over PRD and people are now noticing this bias towards one over the other.
Mr G man
I am invested in both chariot and predator, and I see no conflict in being invested in both.
I discuss each of the companies separately on their LSE sites, each company have different strategies and I am happy to discuss chariot with you on the chariot LSE site.
With regard to prd, you might wish to consider the three fundraisings for sand jet perforation and it’s coming up to 3 years since mou 1 was drilled, I fail to see why you think it’s not appropriate to raise these facts as it’s the basis on which prd raised funds and which I invested.
Jimmy
Jimmy I'm just highlighting your concerns that PRED have too small a team to cope, and yet CHAR appear overly bloated.
After all think of that small fruit company started by just two men Steve Jobs and Steve Wozniak...and look where that ended up!
It just gets better, not only are we sitting on a new Ghawar supergiant in Guercif, we are now also drawing comparisons with our company to Apple, just wow ! … strong buy here
Jimmy.
I stand by every word of the post submitted again by Lancygeo.
Is there is an element of naivety in thinking to stop or slow down one’s competition to better their own agenda is a figment of the imagination ?.
I have experienced industrial espionage firsthand.
It is real and it is a constant threat.
In fact what goes on behind the scenes to protect a company and its secrets is quite the industry in itself.
Through training, Once you know what to look for, a Mole can reveal themself without realising they are actually doing so.
(Very Interesting)
With regard to the size of the Prd team.
Yes the team is small and rightly so.
There are fewer moving parts, it is a very controlled environment, some may say this is a disadvantage, but to who ?, not to ONHYM, they would not have awarded the license to Prd if they thought this small team would not be able to deliver the project, when they could have easily awarded the licence to the bottomless pockets of the Russians, (not that it would have gone down well with the USA) whom have wanted an entry into the Moroccan energy market for quite some time and still do so.
I have posted before with regard to the timing of the Guercif license award to Prd and Russian interest.
https://www.reuters.com/world/africa/nigeria-oil-minister-says-russia-interested-gas-pipeline-morocco-2022-05-03/
So, and on a Global scale, Wars are fought because of Energy dominance as we well know and experience.
Who would have thought this article published in 2012 would have such an impact today.
https://www.upi.com/Energy-News/2012/02/09/Israel-boosts-naval-forces-in-natural-gas-fields/17571328823296/
Do I think there are dirty tricks played at all levels.
Then Yes.
Do I think the competition know the games nearly up.
Then Yes.
Do I think Prd have discovered a Massive Hydrocarbon resource.
Then Yes.
Do I think there is the possibility of Super Majors wanting in on a deal once commerciality is announced.
Then Yes.
Do I think my Investment in PRD will provide generational wealth.
Then Yes.
Wacky.
Wacky,
Thank you for your considered reply.
I too am invested in prd and hope to make a good profit, which is why I am invested.
The examples you provided all refer to examples where substantial gas resources have been unequivocally established.
Prd is in the situation where its potential reservoirs have been described by nuetech as most likely, not certain and they require validation by flow testing. Which is where we are now.
It’s my view that valuations of oil and gas companies have changed in recent years, particularly for explorers and hope value is given little market value.
At some stage predator will need to raise additional equity finance and I believe that it’s best placed to be able to do that after successful flow testing, as indeed pg has indicated that log interpretations require validation by flow testing.
Lonny has successfully arranged flow testing in Morocco previously and it has not taken the years that prd are taking to sand jet perforate and flow. I don’t know why it’s taking so long and no evidence has been presented as to the cause of the delays or indeed if other unnamed parties are playing a role. Other companies in Morocco do not seem to have this problem.
Jimmy
GRH. .. .. .. Very fine post by the inimitable Wacky on LSE
A shining beacon
In an ocean of anonymous, self serving dross
Perpetuated by fools or crooks...
Sometimes both
#PRD
Why do conspiracy theorists consistently get higher upticks than even-handed, objective posters addressing known facts?
Funny old world.
I am not so convinced we will need another equity rise. I think the first well will test up and cover the CNG local market and still have a lot of gas left over. This will all get sold on to AG. This money should be more than enough to cover future testing around Guercif and still enough left over to cover any or all works in TT and the rest hopefully will get returned to us a shareholders in way of a Special Dividend. I see the SD as way of quickly monetizing this share without the markets taking charge of the SP and would mean that we have effectively De Risked this share without having to sell of any of our holdings.
Is there a risk involved damn right there is but that is why the SP in 9p with the potential to reach £9. Will it reach £9 again the answer is yes but only if we hit big if we do not it will come up short of that price. If it fails thought then yes it will need another equity rise. Unless we do a farm out by convincing a major there is gas there. Would this compromise end value yes it would but should ensure us with some value on our shares.
I do not take any of the figures quoted on here as anything like being quotes but estimates of their belief in the final end game. Also if we test up to a degree that this share reaches £9-£10 or even more then yes all the US Majors will be jumping all over us. If you want safety and security stick to the Post Office savings account.; If you want risk reward and can afford to wait it out and also possibly lose your money then stay here. It could be a very interesting second half of the year. GLA
AA = Askar Alshinbayev, major shareholder in both Chariot and Energean.
MrGman
You shouldn't blame derampers for the poor share price performance the past year.
The market has been expecting flow test results for a long time now. Delays can't be rewarded, quite the opposite.
When the wells flow, nothing anyone says on here will matter. Until then, my frustration is directed at the board.
I've been invested since 2018. This was my halo share, the one that was high risk but had the potential of generational wealth. That makes it all the more frustrating.
Don't know about comparison to Apple but don't end up like Ron Gerald Wayne. Sold out of Apple a bit too early to benefit.
Cheers Whacky. Always refreshing when you pop in.
Hope all is well with you.
Hi Zebra - I'm not per se blaming them for the share price simply the nature of what they try to do is morally reprehensible - personally I'm more than happy with what Pred are trying to do, I've done my own research over the last few years with help from the many respected posters on here (we all know who they are) so whichever way this goes it's my own call.
Micktrick - I had in mind Aziz Akhannouch - Moroccan PM