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@Howarda. The failure of SandJet at the Beacon Energy SCHB-2 well has been mentioned here on several occasions. What is not mentioned is that this was an oil well, with different reservoir geology and different drilling fluid. The Guercif reservoirs are for the most part extremely friable, loosely compacted sands. While this makes them liable to intrusion by drilling fluids, it also means that the crumbly texture should easily be amenable to SandJet technology. The gas behind the occluded zone is at high pressure, and should flow more readily than oil, which is of course much more viscous.
It is these reservoir characteristics that have contributed to the delay in testing. Conventional explosive perforation was always going to be problematic, due both to potential lack of adequate penetration depth, and to the propensity for explosives to compact and plasticise friable reservoir material. Plan B is not to use deeper explosive perforation, this would most likely make matters worse.
I expect that they will not initially use SandJet for the very limited horizons where they have used explosive perforation, but will start with the large range of virgin horizons. I would be very surprised if this is unsuccessful, but if so, the next step would be to try chemical stimulation to dissolve through the intruded material. Finally, as you have suggested, a sidetrack would be used. This is not at all unusual practice, and is neither technically demanding nor expensive - involving re-entry of the existing well, then diverting the drill direction before the problematic horizon is reached.
If PRD reached that stage, I would expect that should a (small) fundraise be required, it would be done after MOU-NE has been drilled, and thus hopefully at a much higher share price. MOU-NE carbonate reservoirs are much less likely to exhibit the same problems. My preferred alternative to find the cash would be to divert it from the Cory-Moruga programme, where PRD management have already indicated that they have flexibility over timing and range of activities.
Roxi, MOU 3 is the priority, but they hope to progress all of Guercif, including MOU 5 by summer. This was mentioned in the latest presentation.
Have they announced a firm date yet for drilling the MO5, i seem to have end of April for drilling,
looking forward to the next few weeks , with plenty, from the presentation it was mentioned before the summer holidays?
i wouldn't want the Company sold until that's been drilled and tested!!!
While we wait for news, hopefully this week especially on Ireland, some recent observations about drill pads in Morocco.
All comes with the usual caveats due to the quality of the satellite images.
MOU3 – already reported that some kind of ground works have been done to the top right of the pad between the dates of 25th Jan to 28th Jan.
MOU2 – like MOU3, some kind of ground works have done to the top right of the pad between 29th Feb and 3rd Mar.
Yes, I know, this could just be the local farmer but why right next to each pad and in the same position? There are plenty of other locations around the pads that haven’t changed due to farmer activity!
MOU1 and MOU4 show no change.
MOU5 – still watching for signs of a new pad SE of MOU4. Some possible locations but none showing the same characteristics (colour mainly) as the current drill pads. Current suspicion appeared after 29th February and is here:
https://www.google.com/maps/place/34%C2%B016'37.5%22N+3%C2%B019'23.8%22W/@34.2764328,-3.3248579,641m/data=!3m1!1e3!4m4!3m3!8m2!3d34.27708!4d-3.32327?entry=ttu
https://browser.dataspace.copernicus.eu/?zoom=17&lat=34.27683&lng=-3.32335&themeId=DEFAULT-THEME&visualizationUrl=https%3A%2F%2Fsh.dataspace.copernicus.eu%2Fogc%2Fwms%2Fa91f72b5-f393-4320-bc0f-990129bd9e63&datasetId=S2_L2A_CDAS&fromTime=2024-03-23T00%3A00%3A00.000Z&toTime=2024-03-23T23%3A59%3A59.999Z&layerId=1_TRUE_COLOR&demSource3D=%22MAPZEN%22&cloudCoverage=30&dateMode=SINGLE
Road access shows on the google map image and similar to all other drill pads, there is a man-made water store very nearby.
The latest presentation had larger perforating guns as the next choice if sand jetting does not work. They provided a similar well in northern Morocco with comparable mud weight used and these were successful in that case. After that it will be sidetrack probably.
These are the questions that should have been asked at the presentation ?
What constitutes a rounding error I wonder?
1%?
10%?
0.5%?
😉
Thats the 6 million dollar question they don't know the extent of the formation damage.
If anything greater than 60" then its a redrill
Beacon Energy (BCE) has had to sidetrack the last 100m of its well after Sandjet failed to increase oil flow to the desired level. Conclusion was formation damage of approx 3m.
Please state where i have openly talked the company down, or is the fact that i do not ramp / uber ramp seen as talking the down company down ?
I hold shares and hope the company succeeds. I am a accountant so not in the industry. I wondered if someone knew any process available if sandjet doesn't work. I hope it does but is there a plan b? I heard re possibility of side tracking but is this a option albeit more money!! Thanks for replying. Howard
Bold - Expert observer of this BB - Been invested a few weeks and posts more than most…. Takes no notice of ramping but seems to talk the company down whilst wanting to make money! Mmm 🤔
GLA
GRH. . .. .
Various folk have criticised my research
Launched myriad tirades
If I have got anything wrong
Then I wish they would point it out
to contribute to the knowledge of Guercif
But... ask as I might so far...
⭐They have failed to correct anything
⭐Anything at all
The only opinion you need when investing is your own , if your basing investment decisions of by other opinions, more times than not , good bye to all or most of your capital. if your opinion is firm based on what you read and believe from the people you only want to read and believe, thats fine … I never asked you to listen to my opinion. I hold stock here and i hope to make money , however I do not ramp here and what I am seeing , the hyper-ramping via a proxy all ad verbatim like some guru type demi god , is one of the most bizarre things I have witnessed on a share forum.
They must think there is some gas, then 🙄
“ In the short term, it aims to support gas pipelines connecting domestic gas production basins to consumers, as well as the development of an LNG terminal at the port of Nador West Med and a new gas pipeline to connect the terminal to the Maghreb Gas Pipeline. Europe (GME).”
A strategic memorandum of understanding was signed yesterday Tuesday, March 26 in Rabat, between the ministries of the Interior, Finance, Equipment and that of Energy Transition for the launch of the road map gas infrastructure.
The program, which will extend over a period of several years, aims to provide the Kingdom with several entry points for the import of liquefied natural gas (LNG), as well as storage and transport infrastructure. natural gas.
Why do you find this bizarre? Do you know who Adnan Samarrai was? (Hint - Kirkuk, Shaikan, Sheik Adi, Ber Bahr among others). Are you aware that he reviewed the Guercif data and was very impressed? I think I will take his opinion over yours.
From the article posted by Bob:
"In the short term, the plan aims to support gas pipelines connecting domestic gas production basins to consumers, as well as the development of a LNG terminal at the port of Nador West Med and a new gas pipeline to connect the terminal to the Maghreb Europe Gas Pipeline. " (This will run alongside the Nador - Guercif highway currently under construction, right across the top of the MOU-NE Jurassic prospect, and connect to the MEG at Guercif).
and
"In 2022, Morocco’s gas subsidies reached unprecedented high levels, with the state subsidies fund covering 74% of the original price for a unit of a gas bottle, amounting to MAD 116 ($12.8)."
My assumptions were
1/. that the government will be falling over themselves to get the PRD CNG facility up and running in order to save money paid out in subsidies for expensive gas from Spain,
2/. Consumers will be delighted to have a secure supply of cheaper gas.
3/. It even gives the PM a reason for getting things moving quickly that isn't just in his self-interest.
4/. Whoever purchases the Guercif resource will have a ready distribution network for G2P & G2EU.
But...but... I read on this very board that there is no market for low cost CNG in Morocco, it will take years for the PRD CNG operation to reach breakeven, and furthermore bureaucracy will slow permitting and may even prevent transport of CNG by road tankers. At the very least, extra fire trucks and military escorts will be required. I also read here that the flow of the MEG cannot readily be reversed, and that the Spanish supply contract will prevent Guercif gas being transported through it. What am I to believe? - Nigel is always right, he tells us so all the time.
Yes I see our esteemed contributor did a Michael Jackson moonwalk backwards after his initial assumptions
Very much down stream, if you check a map https://www.nasdaq.com/articles/cove-point-lng-operator:-no-operational-impact-following-baltimore-bridge-collapse
The Bold
Best stick to Washing Machines….
GLA
Witnessing some of the most bizarre posting ever seen on a share forum !
————-
Do you mean people who’ve claimed to be LTH’s but then let slip they only “started “ buying last week
That sort of bizarre?