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Apart from the obvious increase in SP, it means there will be a flurry of news re further plans for drilling in Morocco for starters.
PG will have very carefully crafted a plan, on the success case of MOU - 1 (remember he is very very very confident, this statement from a man not given to over exuberance’s!!!)
There is probably a deal already pencilled in with CP, but there may well be other E&P Co watching and waiting, remember the Fiscal terms, the Gas (oil) prices, tax regime, it all adds up to a massive win if we find Gas/Condensates, it also unlocks Morocco as a HUGE future project.
I have placed a considerable sum of money in to PRD, not just because of Morocco, but because of the spread of projects and the team that PG has put together.
Good luck everyone, I have July 5th to 9th as possible dates for initial drill results.
Is that not a little early to complete the drill and some initial testing? I don't know how long that is expected to take to be honest.
As I understand it.... 20 days for drilling and wireline logs. Then a RNS from the log results a few days after. What we will not get - updates during drilling.. From the different sheets we're targeting.. Ref "tight hole"
The short term timing doesn't matter one jot to well researched investors. All this talk about CoS will have been considered by them a long, long time ago.
Relaxed, confident and yet excited at the same time.
A few days here or there only matters to jumpy traders.
I think it's quite easy to spot them on here.
ATB
My estimate is taken from the below RNS
RNS Number : 9105A
Predator Oil & Gas Holdings PLC
04 June 2021
FOR IMMEDIATE RELEASE
4 June 2021
Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas
LEI 213800L7QXFURBFLDS54
Predator Oil & Gas Holdings Plc
("Predator" or the "Company" and together with its subsidiaries "the Group")
Operational highlights (MOU-1 drilling) and Placing to raise £1.5 million
Operational highlights
• MOU-1 estimated spud date between 15 - 27 June 2021
• Drilling estimated to take 14 to 20 days
————————-
Yesterday’s RNS states UP TO 20 days, so I am stating 14 -20 days, for initial results. I am presuming they will be utilising live results from the mud logs to indicate initial gas shows, as an early indicator in the success case.
My dates correlate across both RNS’s, PG stating UP TO 20 days is his usual under promise and over deliver. Lastly do not forget there is more than one zone.
In line with you, MEM!
How does the wire line logging take? Is that a largely instant result or something that is conducted over a period of x days? 4 July is the period from when the drilling may be finished, its the gap after that for testing I dont really have a frame of reference for at the moment.
Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco and Ireland is pleased to announce that the MOU-1 well was spudded at 0100 hours on Sunday 20th June 2021 with drilling ahead in progress to the first planned 133/8" casing point.
The well is forecast to take up to 20 days to drill and to run wireline logs.
MOU-1 has been given a "tight hole" status and therefore, unless circumstances dictate otherwise, there will be no more information released until wireline logs have been evaluated.
You can do wire logging as you go. The RNS wording implies that is happening, drill and wire log evaluation in 14 to 20 days. My guess for news would therfore be 12th July.
Oh! Of course, I completely missed the "and" there. I'd been thinking back to the earlier RNS of 14-20 day drilling estimate. Okay well that really is coming soon then, exciting times!
I guess it also depends upon whether or not they choose to release any associated news depending upon the result. In the event of a positive result there could be numerous scenario's in play. Time will tell and they will release only when they are ready, perhaps to either maximise the positive or attempt damage limitation on a poor result