Firering Strategic Minerals: From explorer to producer. Watch the video here.
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My £5k BUY of 62,656 shares at 10:49:31 yesterday was recorded as a SELL. WTF!
I'm not at all happy that the LSE are constantly displaying incorrect trades and that they have got my recent transaction wrong.
Whilst I wouldn’t want Morocco to be sold off too cheaply….. I’m ready for some fireworks ! 💥
Agreed!
EC6
Can be funded by anyone with deep enough pockets and the appetite, knowledge.
IJwT
You certainly love the PE angle!
Enough said..
GLA
HMatt
The $1.56bn mentioned by PG is gross based on $13 per mscf. So over 120bcf it comes out at $1.56bn.
That's gross so you could take out a reasonable chunk depending on costs incurred/price at wellhead and then work out what PE need as a return and discount further to reflect.
If it flows well then the aim may be for more than 120bcf and fund through a PE deal for upfront cash and rev share or just straight cash in two stages, development then main chunk once taps are opened.
Is that after royalties, taxes etc? Although Morocco has a 10yr tax holiday.... it's almost like PG has worked all this out already....
How many well heads and mscf pd are needed to achieve the $150m net......
Also, Paul went out of his way to congratulate Eytan on the Chevron farm-in.
Assuming net revenue is $150m on a 10yr NPV12 it is $847.5m by my reckoning.
Assuming CNG runs for 10 years, what is $150m a year of revenue worth? $300m / £250m?
Suggesting a TSR is replete with potential for brickbats and ridicule but we are all in this for a return on investment from the current price label or we would have sold.
How much will that be - £15 would be great but is over time. J23 mentioned around 2.5 TCF if I recall in response to the 7 TCF and if I'm right MOU-5 looks bigger potentially.
So if they can prove up the CPR best estimate of 700bcf it is probably worth a couple of quid a share. With ratchets for proving up by further drilling this could easily see further payments down the line.
What would 5 TCF br worth?
So someone asked if MOU-5 might produce $14bn in gross revenues and Paul confirmed the potential. PRD as an early seller would be lucky to see 20% of this. That is a fiver a share.
For other areas Paul suggested 120 bcf under CNG would produce revenues of $1.56bn. Not sure od this but even at $1bn per TCF instead of 80bcf that is another $2.5bn taking costs out is maybe 60% so 1.5bn or another £3.
I'd reckon above is pretty blue-sky thinking for now but there is definite potential.
Suggesting a TSR is replete with potent
Thanks BRV - very interesting to note 300bpd is breakeven.
Morning all,
I’ve just been listening into Malcy’s interview with Eytan Uliel from CEG and there was a brief discussion on Trinidad which may be of some relevance to PRD:
https://youtu.be/1-h4CieFoV4?si=X78oR00TT5qj45nE
See from 27m41s
“Trinidad washes its face, it produces 300bopd, churns along day-in-day-out. IT’S NO LONGER CENTRAL TO ANYTHING, all the value here is in Uruguay.
We tried several iterations of how to improve the business in Trinidad, none of them worked. I’m the first to admit that we tried this, we drilled a well there and that didn’t work. We tried some EOR techniques, that didn’t work.
And really, the thing in Trinidad is that you need scale, you need to have a bigger production base given the fiscal terms, given the nature of production in that country. SO OUR ASSETS BELONG IN SOME STRUCTURE WHERE YOU HAVE GREATER SCALE.
And now that I’ve got the farm-out done with Chevron and that was taking 99% of my attention, the ATTENTION OVER THE NEXT FEW MONTHS [IS] WE NEED TO FIGURE OUT A SOLUTION FOR TRINIDAD. How do we grow that business, or GET IT IN WITH OTHER ASSETS, or do something where you can turn it from being a small production business that makes no money, but doesn’t lose money, to being something better than a small production business that makes a little bit of money.
AND THAT WILL HAPPEN OVER THE NEXT FEW MONTHS I HOPE.”
Of course, we don’t know precisely what Eytan has in mind...
But we do know from previous RNS’s (and as previously discussed on here) that PRD and CEG had “agreed to establish a collaboration in relation to CO2 EOR activities and projects in other areas in Trinidad” [PRD RNS 30/8/23] and that, according to the CEG RNS of the same date “the parties HAVE PROGRESSED DISCUSSIONS seeking to re-establish partnering arrangements in relation to OTHER ASSETS, including in particular a POTENTIAL JOINT-VENTURE OR ACQUISITION OF THE INNISS-TRINITY FIELD.”
[all emphasis my own]
So it’s clear that:
• PRD and CEG have been having discussions about the various CEG assets in Trinidad
• CEG considers its Trinidad assets to be non-core and so would presumably be open to an exit
• Eytan hopes to have a solution to Trinidad within the next few months
This is all speculation, of course, but might this be the perfect opportunity for Paul to re-establish our CO2 EOR operations in Trinidad via acquiring some or all of CEG’s assets? If so, it’s possible that we’ll have news on this fairly soon.
If £15 for share holder return is your target GRH, I would like to know when we will be getting dividends returning 200 the current share price?
TheBold,
You are hilarious. Invested here for 3 years?
You do realise we can see your posts… and on 17th March you said you’d first started buying shares here last week.
Get in the bin.
Hello Porters...please let me expand on the point
Do I feel we will see a £15 share price?
Of course not...
as I have posted several times...as many folk well know
I said that I was targeting a total shareholder return of £15 per share...a different thing
Yes...I see no reason at all to change my target TSR
No reason at all
Indeed ...to the contrary...
when I first mentioned that figure,
matters were far less advanced
and uncertainties much greater...
also pre Mr Putin ...Ukraine
I think the odds have now improved
They have done so quite dramatically
Thus, i believe the chances of achieving a high return are now much greater than at any time
My analyses of the geologies of my investment are what drives my views...
Together with my own meetings with many folk
Including Paul then Lonny
Good luck Bold with CHAR
ATB
G2
Of course you have - Bless ya….
I have been reading posts on here for years, I only felt need to join a few months ago . I have been investor here for 3 years now.
Thank you .
Bold if you had been around longer than 2 Months you would know exactly what GRH has posted over the past few years! There again you probably have been under a different name…..
GLA
Porters, did he call that ?
I was not going to post today, however I feel truly humbled and honoured to have received a direct reply from you Sir.
I am very aware Sir of SOU`s downfall under Mr parsnips, I was not one of those idiots investing at 40,50,60,70,80,90 100 pence.. I was/am a buyer and see value there however at 1 penny.
I see value here at current levels , which is why I am investor here.. i see more value in Char at current levels, I am an investor there as well . I do not listen to any ramping idiots on here talking about billions of revenue in next 18 months or so and more gas in place than many middle eastern countries. I see decent odds here of return on my investment at these levels and I think we will prove up some gas but nowhere near levels of the rampers and we will never be operators as we will sell it imo before any production starts.
You really are not proving anything to me sir , other than you feel a constant need to shout out either yourself or via your proxy F&M that you want to be recognised as a grand master in calling drilling success/ failures before results and have a foresight that is second to none , as such majority of people now go off every word you say as factual. I however do not.
Going to leave it here for now as the action all seems to be happening with CHAR atm and is likely to be that way for next few months as far as I can see. I am now parked here in holding pattern until news flow which imo will be not before mid June.
Have a nice day and hope we see a blue friday here .
Porters 🤭 that is a desperate little post
In case you ask...
I also called the Badile 1 well correctly
That was in a meeting in their Sevenoaks boardroom
My colleague even provided detailed guidance re how
they should deviate the drill in progress...
To hit a good reservoir
The advice was ignored
The result was inevitable
ATB
G2