Firering Strategic Minerals: From explorer to producer. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Nothing has changed, market over reacted and shareholders reacted of course negatively but the negativity especially on here is going over the top.
Everyone knew they were doing this rigless testing and sand jetting will follow after, so why constantly post negative comments because you’re stuck at 10p-14p and are angry/upset/trolling.
PRD share price rose steadily from December 2023 same price we are at now 8p to 13p in less then 3 months. All we did was go back to that 8p price can easily reverse back on sand jetting results.
If the news was so bad and catastrophic like some here state, we would be back to 1p-4p area, but we are not.
The whole rise happened because anticipation for all these catalysts in 2024, so it can easily rise back again next few days, weeks or months
The company tweeted the share price fall and highlights knowing the backlash. It’s like at school you needed a black pen but lost it, instead you were forced to use a pencil. So now PRD will start using the black pen with no issues (Still funded for operations).
Phase 1 Rigless Testing Update:
- Formation damage confirmed
- Confidence in Sandjet to establish gas flow
- Analysis of gas samples confirms up to 99.57% methane suitable for CNG development
- MOU-5 Jurassic well planning on track
Future potential and well researched comments last few months are still valid and should be respected because apart from these people no one else gave research or information.
Sand Jetting just needs to show gas flow and this rises back up. Right now and until results nothing to worry about, either you stay long and strong like investment you believe this will be, or sell simple as that.
Sold 10 million Bought 16 million how is his down.
Ra11adw2 : that's a great summary ( thanks ). If this far from a simple process & my personal thoughts is that this is a massive over reaction from the market . I'm happy to have small top up and see where this lands .
After reading the today's rns again I decided to reduce my holding . Not because of geology but poor management the main reason that's all this rns says to me. Never been a massive fan of pg but the constant delays look to have caught up with him and backed into a corner used unsuitable kit to keep hold of the licence. Wasting cash in the process. Waited along time for mou1 testing and still dont know if gas is their. No sandjet testing on the horizon either . I fear the geology may be better than management
Anyone that has read the RNS and thinks nothing has changed should not be investing in these types of stocks. The RNS is quite clear on what has changed. They were expecting 8" of formation damage, they have perforated 12" and are still encountering reservoir damage. That's a minimum of 50% increase a clearly significant change and they have still not found the exact extent. There are possible sections to badly damaged even for sandjetting as these were the best candidates for the perforating guns.
Risk and uncertainty has increased whether posters want to believe or not, hence the fall. It's not an over reaction or the nasty trolls, it's as straightforward as that.
Gudin, the following part of the RNS should be considered:
"Conventional larger 27/8" perforating guns are modelled by a third party to penetrate 25 - 28" into a formation, beyond the zone of formation damage. Sandjet design parameters will be modelled to achieve this minimum objective."
Taking one section out of context is not helpful.
Some of these reports make me laugh..lol. But there is some truth in there…
https://bnnbreaking.com/finance-nav/predator-oil-gas-faces-setback-in-trinidad-drilling-yet-remains-optimistic-amid-share-plunge
It's not taking one section out of context. The increase in formation damage to what was expected is a change, the post claimed nothing had changed. If the best candidates have damage in excess of 12" then it's possible the areas with more damage are too badly damaged to test. I do not know if this is the case, but neither do management as they do not know the extent of the damage. Hence increased risk and uncertainty.
Being on the right continent normally helps.
PRD stated Phase 2 could commence as soon as early February, but getting Guercif Petroleum Agreement Amendment #4 was a prerequisite. So that suggests PG thought they could get the extension tacked onto #3. That clearly hasn’t happened, with no indication in today’s epistle as to when it would be forthcoming. I just hope Management hasn’t peed off ONHYM.
all seems a bit of a **** up - again