tpt; please, please wake up!, page-45

Fiendish, i disagree vehemently with a lot of the content of your post.

1) PVD chance of success is significantly higher
- What is your definition of significantly and then compare the COS for the two assets. I think you're being a little mischievous here.

2) PVD's Risked potential target is larger.
- Yes, however it is significantly higher risk because its an unproven oil system.
Why do you think Cairn and Genel are mainly targeting the Jurassic Carbonate structure around Tangiers petroleum?

3) Adjacent to multiple existing oil fields and pipelines producing from the same play types.
This is an outright fabrication. There is only ONE existing oil field in Morocco and that's Cap Juby adjacent to Tangiers permit not Pura Vida. It so happens that this discovery was in the Jurassic Carbonate structures that Cairn/Genel are targetting, and those very structures that TPT will be drilling through.

4) Larger joint venture funding package and cash re-imbursement.
- I agree with this, but is this worth an extra $50m in market size?
I doubt it

5) Joint venture company size and profile.
This is so far from the truth that i am gobsmacked
- Are you being serious?? Take a look at Galp vs Plains and tell me which is the bigger company!

6)PVD size and profile will give them more capacity to limit dilution in a pre spud placement. Management ability, financial interest in the company and track record is better.

Share structure and support.
- why do Pura Vida have debt? and they are burning through cash... where will the next round of funding come from? another placement more dilution?

Broker support
- So just imagine what will happen if the brokers get behind Tangiers? This is exactly where the upside lies. Pura Vida is such a well told and know story where will the upside come from?

7) 2nd projects are better imo.
- I'm not so sure on this. I don't think you can make that assertion so blatantly.