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Hi GRH
Thanks
MEM
Afternoon MMM
Don't want to discuss commercial terms on board...but it is incredible bang per buck!
it would possibly be a limited survey fee plus success bonuses...IE 100% alignment of objective
As we are talking about it...I have met MANY CEOs...
not one...not a single one ... understands probabilities in maths...or gets close
remarkable!
I will post a simple example a bit later to illustrate my point of WHY probabilities are SO vital
it is WHY
casino owners are wealthy
most PIs lose money
AIM outfits 'issue shares like confetti'...I coined that phrase about 12 years ago
the upstream sector spent $7.6TRILLION from 2005/2015 and failed to replace conventional reserves
I could go on but you get the drift
ATB
Hello +1,
Paul’s team of geologists have never let him down so they know their stuff .
Out of curiosity how much would it cost roughly to do your work on our Morocco target ?
Thanks
BE DONE...not become!
MEM
If the request was made (to survey the whole of the land mass of Trinidad... remotely by rsdd-h)
I am confident that not only could it become...but the accuracy would far surpass anything from seismic 2D ..
or 3D
Or FTG
or geo Chem. analyses
Both reflective seismic and tensor gradiometry evaluate the sub surface strata...
Interesting of course in terms of structural closures/size etc..
but neither tech can answer the exam question ...
Which is simply ' can you please identify locations of abundant hydrocarbon ENERGY?'
It is why Sound is trading at 2p share price...
When it should have been £3 or more IMO
ATB
It's nice to know Paul wants to go down the service route scaling up is made so much quicker! No upfront costs for fields, no drilling new well ect. The next step will be ensuring the project runs correctly and then approaching the Trinidad goverment and somehow getting then to shorten the length of time it takes for legal documentation. Still have checks if course but probably just an environmental check none of this waiting for months for replies! I do think as the operation gets bigger the goverment will probably have it's own department to deal with it! We are the go too for all C02 end of run on the island
Hi MMM, thanks for the historical background info re Trinidad.
I would like to make a few observations.
Trinidad is approx 5,100 sq kms in area.
There has been 2D and 3D shot over a relatively small area compared to the total land mass (just talking onshore at the moment) Obviously 3D is better, latest advances in 3D imaging technology have good results, the costs have fallen. (GRH can add to this thought process)
So given the large area yet to be surveyed by 3D
Both shallow and deep area's (deep area's, ie below 5,000 feet, might hold Billions of barrels)
Then there are offshore area's possibly holding vast amounts of yet to be found O&G
We all know how close we are to Venezuela, nothing should be discounted.
Plus all the old Legacy fields.
What I am trying to say is PRD has a fabulous future in Trinidad, with untold billions of oil that we know is in the ground and CCS EOR can help to bring this oil to the surface.
As future fields are discovered, primary and secondary oil extraction is utilised, then PRD can step forward and offer their expert knowledge of CCS EOR.
Trinidad can once again become a major oil producer, probably approaching 250,000 bpd, at a steady peak production, all the while sequestrating huge quantities of CO2.
There is 150+ years of EOR work on the known resources, add in what has yet to be found, your Grand Children's grand children can still benefit from this one island.
Then there are the other area's we are becoming involved in.
In my opinion PRD Trinidads business model justifies its own LSE Main Listing as a spin off business with 250 years future earnings growth. CCS EOR is going to be HUGE and growing year on year.
Yes I know, don't take my eye off the Morocco and Ireland ball.
I initially invested for the Irish story, but I honestly think the Trinidad CCS EOR business will dwarf both Morocco and Ireland.
This small, yet highly focussed business, lead by a far sighted CEO and his Team will prove to be an exceptional investment.
DYOR
Thanks to MMM and GRH in particular, plus the other regular contributors.
Expert analysis making this a great BB
DYOR and have a great day.
Note - Eastern block outline in green (it’s huge) also I hope our first Co2 EOR is on the Aloha Trend Line because thy looks like a hot spot
ATB
http://www.searchanddiscovery.com/documents/2020/11293moonan/ndx_moonan.pdf