With many, many thanks to the CEO’s from Zephyr Energy, Power Metal Resources, Scirocco Energy and SpectrumX who entertained and informed us at last night’s investor event. To see their video presentations view here.
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Thank you for a very informative post.
However, I say this as someone who is now not only over invested here but also sitting in a 50% hole, and is becoming ever more fearful of the daily SP drops, and therefor increasingly resigned to a bitter/happy end!
Unfortunately the grammar in that post is so appallingly dreadful it makes, (for me at least given my lack of understanding in this field) the entire post almost incomprehensible.
So more worryingly I'm not convinced that the person that penned that note could possibly have the professional history as claimed by the same.
Or am I being completely paranoid now???
Nige, when someone with only 5% of their portfolio here and 95% elsewhere then spends 95% of their time here and the other 5% at Share Basher HQ getting seminars on how to be a troll, the dots dont add up. You are a classic troll. And you should take your £14.50 investement out of your other 'safe' shares because no shares are 'safe'. There are degrees of risk, no safe havens. But after that, please do stick around as you are entertaining if nothing else. I kinda like you. Its going to be a difficult choice who to feed first
Well I don't know about happily... But yes if facts change and the overall prospects significantly worsen, then I'd re-evaluate. They haven't yet though I agree.
I'll happily change my mind about prd if the facts change. Show me some facts, otherwise you just sound like a bitter ex holder, or someone after some cheap shares.
Yeah, its a real nightmare being only 58% up after 12 month.
What you on about Mick, are you having nightmares on what you could have had if you had only sold, I’m all in on this one. 300k @ 2.9p average. I’m keeping hold of mine until the (not so) bitter end. Gla,....... Bit of a nightmare
I guess you’d have to ask the company directly. Anything else would be speculation.
Kasjnaton we know about GKP as GRH goes on about it enough but why had pilbeam sold out and Paul Griffiths been so quite about HIS SUCCESS OF MOU1 something not quite right imo.
of course, I do not KNOW the answer but I can tell you that the GKP images that I possess are, in their scale AND intensity, quite unlike others I have relating to several other oilfields of other companies So...let's just say that, purely personally, I regard BBBS's numbers as being rather conservative... sorry BBBS...I hope you don't mind Here are the images (links removed due to dropbox bandwidth problems. Please see links in the header) PLEASE do your own research , use your own judgement and ignore as much 'noise' as possible... Good luck as ever to all holders I really am now signing off for Christmas Regards GRH1
MEAT OK...so what...you ask? Well, we have persuaded the scientists to allow us to post in public...for the first time... satellite OIL images of Shaikan and part of Ber Bahr.... I am also posting a purely topographical MAP of three of the blocks... obtained from a space shuttle programme but with the block boundaries super-imposed for your ease of reference Please understand that the OIL images are NOT in any way to be compared with the interpretation maps you see in various presentations... IE they are not the product of a chap with a pencil or two but massively important 'live' images... There need to be a few conditions please ...but only a few... As to Ber Bahr... it will be 'only' the south eastern block on the BB licenced acreage...showing the drill location for BB1 in the view of the scientists,that BB drill appears to be located sub optimally (it is not dissimilar perhaps in relative placement to SH1 really within the Shaikan structure ...and look what happened there) BUT...the scientists told me that they feel that BB1 should contain oil reservoirs... although the technology cannot predict porosity/permeability depths of the accumulations... and frankly ...if BB1 comes good ... then one needs to look carefully at the rest of that southern structural map to see the upside there ... it appears QUITE GOOD and that EXCLUDES all the rest of the BB acreage and structures... please bear in mind that for obvious reasons of commerciality, I AM ONLY POSTING VERY LOW GRADE/SMALL SCALE/HIGH LEVEL IMAGES... as the very detailed stuff still has great commercial value to me and my colleagues but I can tell you that black is thought to be 'good'... and we do see rather a lot of deep black here I must also say that I am not able to answer questions ... partly as I simply do not have time to engage in MUCH debate... and partly for reasons of commercial sensitivity...I hope that you will understand It is possible that my colleague in this venture will be prepared to talk with people...within commercial confines/on a limited basis... probably over at the other place However...I do very much hope that some here might appreciate the images.. and the work that has gone into them...it has been considerable I am 'full' on GKP stock... now you know why... and, hence, I now have no issue with letting others here...who might be interested... see ...at least low resolution versions of... what sits on my office wall... I post these without charge... in the hope that they might help put some of the thousands of excellent posts into a clear visual context... AND/OR OF COURSE WITHOUT WARRANTY, IMPLIED OR OTHERWISE ... in choosing to view such images, you automatically accept such conditions... if you are not prepared to accept such conditions ...please do NOT view the images How much oil do we own?
ie it is surely sensible to throw better quality seismic...over much reduced areas of GREAT interest... rather that using it as a primary oil finding technique Of course...many here know that seismic cannot positively identify the PRESENCE of hydrocarbons....per se... but rather the types and forms of the sub surface structures that MIGHT contain hydrocarbons I consider that such point goes to the heart of the CoS issue The satellite-enabled technology I describe provides a totally DIRECT indication of hydrocarbons... thus very different to traditional techniques The marketing has taken much time...and continues... and it is early days and these drills also take time... not least of which is time expended in the licencing arrangements... but we are hoping to see some 'live firing' drilling in 2012 on several locations... 'live firing' meaning that... in the success case... we make money out of each such success via the business model (not as investors) It has been entirely up to the client or partner companies to decide if they wish to actually go public with the fact that they have signed satellite contracts... and my view overall is that they might be advised to keep quiet about it for OBVIOUS commercial reasons... one Company though has made such information public... --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Obviously ...in addition to our BUSINESS activities as noted above we have also been using such technology to better inform our own INVESTMENT decisions yes...HOW I wish that I had met these guys back in 2008 and I have personally witnessed quite startling successes... to the extent that,whilst the Company and its scientists will claim a somewhat lower CoS ... I can tell you that , in respect of the most recent 25 predictions/analyses, over 85% have been correct it has been a good run Of course,,,we have audit trails of things such as telling quoted companies in advance that their drill would be a duster (among others...a high profile drill in Kurdistan ignored our data...hugely to the cost of the shareholders in that company)... and analysing an un-related duster that cost me (it was before I met the satellite guys!) a large amount of money as recently as the Mayfair Hotel presentation by GKP I showed a satellite oil map of Shaikan to a person from GKP.. and I told him that, in our opinion, SH4 would be EXTREMELY good... he emailed me some while later ...AFTER the first RNS about the preliminary results from that drill.... to ask me HOW I had been so confident as to give him an ADVANCE prediction re SH4 that was SO accurate.... Continued...
...than seismic ALONE Please understand that I am not knocking seismic...I am a great fan of it...but used for the correct purpose I postulated a theory to another poster that the US had probably developed ...or at least used... oil mapping from aircraft... Through countless meetings and contacts, I eventually met with long term and very senior oil exploration people (one such was a GM in BP's International & Frontiers E&P Division and country Vice Pesident Exploration of various BP operations) who had,many years before, developed ...jointly with a group of Russian scientists ...just the technology I was postulating... albeit utilising satellite rather than aircraft-gathered images (vast numbers of such images need to be interrogated for the all important evidence of live hydrocarbons to emerge... such evaluation is a truly mammoth task) The technology works by examining physical changes at surface level... changes in the manner in which vegetation performs when subjected to the constant barrage of chemical 'soup' emanating from the upward migration of hydrocarbons (MICRO seepage...NOT please to be confused with seeps that are visible to the naked eye)... and the effects upon the cementation of rocks where no such vegetation exists (I am told by a senior geologist that such phenomenon is well recognised within the minerals mining sector) They had achieved startling techical success and, whilst they had achieved wealth for themselves... that degree of wealth IMO did not correctly reflect the sheer immensity of what they have I put that down to two main factors... Resistance from the extant E&P community ...the closed shop approach... ie resistance to change,bearing in mind that seismic was around at the time when many senior oil executives were learning their trade... (imagine the initial conversation were seimic to be invented today...'shall we bang the ground and see what we can infer') and a business model that revolved around a pure 'service ' approach So...a colleague and I ...he is well known over at the other place.... having considered MANY business models,entered into an International alliance with them... whereby we would change the business approach...and the nature and scale of the revenue stream For almost a year (it is not a fast process for reasons I have partly outlined above) we have been signing up E&P companies to our model...(I dislike the term ' E&P' as, surely, what is of great interest to investors is 'D' for Discovery) which essentially reduces the up-front costs for the client companies and we believe greatly improves their chances of drilling success... whilst enabling us to enjoy financial success ...via participatory rights...in various exploration activities As far as I am concerned, it represents the creation of a 'virtual' oil company We never ...or at least very rarely... suggest that drilling take place without relevant seismic... but the key word is 'relevant'... continued...
Posting GRH's iii post again (so I can reference in header): All Longer term holders may recall a fairly impromptu ...but very senior level ...ceremony at the SH1 well site... it was upon the first discovery of oil and it has been all but lost in the sea of noise that sometimes dominates this board That is a pity... as, at that ceremony... it was suggested that the oil was 'unmeasure-able'... perhaps some newer holders might even be unaware of that statement I hope to show you WHAT 'unmeasurable' actually looks like -------------------------------------------------------------------------------- My apologies for the slightly lengthy post... especially as I said that I would post no more ...on Wifely orders pre Christmas But...I have permission for JUST this final one ... For those who are not interested in the 'PRE-AMBLE'... and who could blame you? may I suggest that you skip straight to the 'MEAT' section I have thought long and hard about putting a pre-amble in here at all... but... were I to merely put out the second part of this post, there would be more questions than there might be with this longer version... The following represents my personal opinion only... so here goes PRE -AMBLE In all of the post below, I bow to the MUCH greater knowledge of several posters here... some of whom have held very senior and successful positions within the oil industry... I recognise that,as a non scientist and as a mere businessman and investor, what I know about this industry can be written on the head of a pin or two but I speak as I find etc.... As some here will know, I have been investing in oil shares since very late in 2008... and in volume since 2009... and, like many here, I have had my winners and a few losers... I hold GKP... somewhat later in this post you are going to see WHY Now....leaving aside GKP as a rather special case ... I regard the E&P sector per se as a very tough place for investors to make real money... (yes, of course GKP is tough also...but for rather different reasons) and IMO that is greatly due to the 'success' rates on drilling wildcats on seismic alone... My research indicates that about 1 in 12 wildcats become commercial successes... some people like to quote 1 in 5 or so... but I do not believe that to be correct as it appears to reflect the re-categorisation of poor drilling results This poor rate of success leads DIRECTLY to many companies in this sector issuing a seemingly endless number of new shares... thus diluting the existing equity holders....often at lower and lower prices... we have all seen many instances of that effect... to my simple mind...dilution appears as a drug within this sector a couple of years ago, I coined the phrase....'issuing shares like confetti' the phenomenon was more recently described to me by a very senior Nomad... as the 'waterfall' effect When I came into this sector, I did much research... and soon developed a view that there must be better ways of finding hydrocarbons...continued..
Several people posting on these boards have not just been dismissing GRH's information that he has kindly provided, not only claiming that he is a paid ramper but also ignoring his track record.
So what can we determine about GRH's position from what he has written?
1) He holds a significant number of shares in PRD
2) He holds those shares on the research that he has done
3) He understands the risks associated with the business
4) Some of the information that he has based his research on is in the public domain and the rest is private research
5) It is from his public and private research that he holds PRD shares
i) Documentation that is publicly available of course includes CPR's, RNS's and presentations
ii) Private documentation that he has access to? Well maybe that is the same information that led him to post so positively about GKP?
6) PRD is a small E&P company, and yet GRH claims to very rarely hold any shares in these types of buisnesses
7) GRH's calculations, kindly provided to the BB, are generated from figures fond in RNS'
8) He told investors in GKP when he sold
Last but by no means least, he does not hide behind an anonymous avatar.
So what about the bashers?
1) No evidence, or at least not willing to provide any evidence of past track record and success
2) Have not at any point countered GRH's calculated value for the potential worth of Morocco
3) Making assumptions about the reason for RP's share sales
4) Interrupt discussions and post negatively without any facts to back up there negative perspective
So, what about GRH's track record?
He claims to have warned people about SOU, well that is true, not just me but other's on this BB who were invested in SOU at the time can confirm that GRH did indeed warn people when the share price was at 40pps+.
His other claim re GKP?
Well I have posted the entirety of that post that he made back in 2011, the link for the original post can be found below:
The 2011 post is quite lengthy so will appear in separate posts here.
1/ You are raving, possibly deluded
2/ All that we need to know about PRD type gambling weaners are what the C.O.S, how much money they have in the bank, when and how much the next expensive well or CT/3D ops are and when/how destructive will the next placing be.
3/ All theories about gas kitchens are irrelevant without trap/seal/reservoir.
4/ I am an E and P gambler as a game and distraction from chaos, 95% of my investments are safe.
5/ Most here are deluded and think that PRD and their ilk are an investment.
6/ Have a nice weekend.
Nigel, lots of people much smarter than you have done the hard work in the past and currently, complied data and drilled wells and are now analysing that data. If they wish to test the well then there will be a good reason for it; they have seen something in that data to support and build on historical evaulations and current ground work. The play is potentially huge. You sound as bitter as Excelcior. You could just go do one, but then there would be no clown for us to smile at while we pass the time waiting for the inevitable CPR update and further news on Ireland and Trinidad. Enjoy your time in the limelight now while you feel special, but you will melt away like an ice tu*rd when the sun shines.
Anyway, some interesting bits and bobs from Pathfinders SLR CPR. Read together with the data PRD have released it does make you wonder what they have seen or now know
Oil drilling commenced in 1972 when Elf drilled GRF-1 followed by Phillips who drilled TAF-1X in 1979.
A re-examination of the wireline logs by TransAtlantic in wells with Miocene and Upper Jurassic sands suggested that several gas sands may have been missed in these wells
Pge 10 – 11
TransAtlantic flew an aero gravity and magnetics survey (10,000 km) over the area in 2006and carried out geochemical sampling coincident with surface and subsurface structures. Two micro-seepage surveys were carried out by Geo-Microbial Technologies in 2006 and2007. A total of 32 traverses were carried out over a 2500km2area and 731 soil samples were analysed in 2006 and 2007
The results of the 2006-07 surveys(Geo-Microbial Technologies Inc, March/April 2007)identify several hydrocarbon types in the Guercif basin: thermogenic dry gas and some condensate around the GRF-1 well; oil and gas/condensate around the MSD-1 well, over the Jezira anticline and in southwest; and oil in all other anomalies. Particularly interesting is the abundant seepage in a large area around theTAF-1X well which appears to be oil rather than gas. The anomalies cover a larger area and have higher oil concentrations than the anomalies elsewhere. These surveys confirm there is an active hydrocarbon source system in the basin
… In addition, it believed that two of the four wells drilled appeared to have missed pay opportunities
Detailed mapping in the south and southwest parts of the Guercif basin(R. Gelati, 2000) has yielded important information of the sedimentology of the sequence. In particular the work has demonstrated the widespread occurrence of marine turbiditic sands in the upper half of the Tortonian sequence (see Figure 6). These sands should form the main target for the Neogene biogenic gas play
Page 14 & 15
…In summary, the Guercif basin contains deeply buried rich source rocks similar to those seen in the Middle Atlas Mountains that have been buried deeper than in the mountain area. This deeper burial may provide a better opportunity for hydrocarbon maturation and entrapment.