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Well if that happens then nothing is happening in 2024.... let's just come to terms with that.
May as well throw in SDX need to side track as well, as advised in their last well RNS, they hoped to side track soon.. ,lets just hope its not SDX, CHAR,SOU,SDX,PRD ! Will be September /October for us if so ! bod needs to clarify exactly where were we for both SJ and drilling timelines !
So it appears the order for the rig is:
CHAR > Sou >PRD
Who thinks they will get Sandjet testing done before then? Not me. They probably have not started ringing around for the coiled tubing yet.
Well done PG and LB, you absolute unprofessional muppets for wasting almost a year of doing nothing except for halving the share price to raise money for work that was "imminent" towards the end of last year.
I agree with MickTrick.
I think PG is busy conducting an amazing symphony and not overly concerned about reporting back on the status of the 3rd triangle player's shoelaces.
I may be right, I may be wrong - this is a listed share after all.
If you think the whole thing is a disaster, then sell up and leave.
it is not exactly rocket science.
Easy Tigers
https://youtu.be/RdR6MN2jKYs?si=JXVkkvDGr_Syh_7d
To be honest I don't think PG is bothered by the SP. If the recent quote about the company being undervalued by the markets is anything to go by I think we're in play. I'd be quite happy with that to be honest.
The board know the issues SH's have had with missing deadlines, set by them! I can't recall the last time they met one.
The presentation shows in the 1st half of Q2 - "Mou1, Mou3 and Mou4 rigless testing". its clearly in the 1st half of the Qtr as they have other items clearly indicated in the 2nd half of the qtr.
SP is drifting as always due to uncertainty on timelines.
I hope they have mobilised sand jet equipment to morroco before the amendment was signed off. PG said he was happy the regulation situation was running smoothly so hopefully he backed that with getting things moving. Booking another slot is always going to lead to doubts if they could make it hapoen in another new timeslot. But Sandjet update is needed now I'm not fussed on mou5 until they test what they already have
Go on Find Me say your piece, and answer GRH's question.
There are several on here who like to call GRH and others, yet hide behind your keyboards, claiming you have industry experience, show yourselves and let us make our own judgement.
A bit of red and out they come.
Plonkers
Hello,,, grh posted at 7.30,you are posting at 9 am and still no reply as to what you think grh has posted that wasnt the truth or mis leading? he has politely asked for a reply,so are you just a TROLL or have you lost a few pennies on this share and cant afford some sweets for the weekend? the potential for this company to find hugh amounts of gas and or oil is known to all the genuine investers,thats why we are hear, not for a 10 or 15% profit by the end of the month. im looking for this to be many pounds for 1 share in the future,if its another 2 yrs so what the gas is there,lots of it,and its just not grh saying this,many of the more experienced guys can read the geology reports and see the underground caverns with a good top seal to keep the pressurized gas in,just incase you didnt know the gas is lighter than air so tries to go upwards and escape into the atmosphere,its had a few years to do this but rock and dense clay hold it back until one day a man comes along and drills holes down far enough to find it,hey presto over pressured gas,(almost broke the guage)so that means there is a lot of it.... as im sure you will know a gas can be repressured into a large strong metal box(on the back of a lorry) and transported in a liquid form at 458kg per m3 on average so you can work out how many mtr3 you would need on average to get to 1 mtr3 compressed. you start at 0.68kg per mtr3. the plan has always been to transport a few truck loads from the well heads,and no they dont need a police escort for a dangerous load at 0.4miles per hour as someone said a yr or 2 ago...
It is not and never has been a contracted drill date, the use of the word expected should have made this blinding obvious.
A rig with multiple users as in this case is given a slot in the running order. SDX, CHAR, SOU then PRD is the seeming order. When SDX finished it went to CHAR who expected it before the end of Q1 but it was delayed. Sound will get the rig when CHAR is finished they expect this to be June, but the actual date will be when it has completed the work at CHAR not before.
It is the same with the sandjet and coiling tube unit. Both these were expected to be available in April, hopefully these have also been delayed. If they became available when expected then PRD faced the decision of contracting them and paying the daily rate when the permit had not been issued or passing them up until the permit was issued and booking a new slot.
As I said, good prospects IF they drill or test, but as has been demostrated repeatedly in the past PRD are unlikely to ahere to any self-stated timeline. Total lack of clarity and communications will see this perhaps back in the 7s before long.
Certainly if no set timetable for sand jet perfortation will see confidence in delivery of any near term objectives at rock bottom. Near enough already is rock bottom.
Recall also the statements around Trinidad providing income for Morocco. This was said in numerous rns back in 2020. Trinidad was then mothballed (for numerous reasons). The narrative is now back to Trinidad providing income in recent communications.
I would be (and am) exercising maximum caution here.
Social Media commentators have been wildly far off the mark. In fact, many have been so far wide in terms of predictions that I am surprised they even continue to post at all. Many will swallow anything that supports their strongly held viewpoints, but reviewing PRD performance objectively it is only possible to see a company that has so far failed to deliver the primary objective which is gas flow, despite holes being drilled over 3 years ago. Suggesting that wells in trinidad be worked over to miraculously provide income some time after Q2 is as ludicrous as it sounded originally when printed. I predict we will hear nothing meaningful about Trinidad well in Q3 or Q4.
7p range is support. It seems very likely it will get there soon unless the directors give a firm date for testing.
Not invested currently.
Will consider at 7.5p if it arrives.
Closing below 9p would be very significant as indicator of near term direction.
CHAR have a 50-60 day campaign, 5 days in.. SOU now state the rig is going to them for setting completions after CHAR … So where does this put us ?
Griffiths needs to update shareholders on the contracted RIG drill between April 1st May 31st
As this clearly isnt the case.
CHAR started their 2 rig drill campaign on MAY 2nd therefore PRD are very unlikely to be drilling in MAY as per the rig contract.
Sorry FORD I do not know what you are talking about, maybe you have been reading too many posts from the Sage.
Top tip… when tsunami size sweeping statements are made that quite literally put our assets on par with the largest commercial hydrocarbon discoveries on the planet to date, then perhaps the use of the acronym IMO or IMHO should be inserted.. To many totally unbalanced statements bordering on absurd with facts that are known, coming from one place using perceived self importance and self value to attempt to draw in money here. This is very very clear. DYOR …… PS.. Ghawar took an entire nations expertise and research 12 years to discover fully, it comprises of 6 mega structures , Fazran, Ain Dar, Haradh, Uthmaniyah, Shedgum, and Hawiyah. which are all fully proven and the worlds largest supergiant hydro carbon field has proven recoverable resources of 58 billion barrels of crude oil. ( Equivilent to 362 tcf) i would like to know how ANY one with even half a brain could look at some of the statements posted by one poster on Ghawar’s comparison to Guercif ? with tracs report facts of 14bcf of 2C contingent and prospective resources currently in place.
TheBold: In regards to timeframes I posted some time ago that my expectation was the end of June for the possible results. This date I calculated from the RNS , as it never stated ( correct me if I wrong ) and actually amount of days from the license being granted. I've been fairly accurate with the time frames but that's because I have more knowledge on the global logistics i.e. since the Israeli invasion of Gaza , so many parts are now running 8 weeks behind . Anyway that's just my thoughts. If it's any sooner then I'd be a happy bunny :)
As soon as a post is made that needs reading someone comes along and starts a new thread to push it down the page.
🥱
So prominent poster/s on here advised SJ was all being mobilised and planned before we got the licence approval 10 or so days ago, as such ops would be starting with in a week or so from now . we have zero updates on SJ or CT ( both needed ) .. my question from 10 days ago , i will ask again… The verbiage “can now prepare for SJ “ As advised in RNS 10 days ago ….does this mean that only 10 days ago we started on the mobilisation, transport and import process for the equipment ? i was shot down when i raised this ….
FINDME,is that on purpose? hopefully you make it a habit? get lost................
Undiscovered ?? ,, from memory didnt one of the worlds largest diamonds lay undiscovered where the miners literally walked past it for a few days thinking someone was playing a joke... then one day when no one was about he simply dug it out with a small pick and took it in to the office to see if it was a fake planted for a joke as it was so effing huge it couldnt possibly be real.. IT WAS.
Hello findme
Why please are you so rude about me?
We have never met and , as far as I am aware, have not had contact
My views re Guercif seem to displease you...
but they are my views...
Reached after carrying out very substantial and detailed analyses
Folk shouted at me at 1.5p...when I bought in bulk...and you continue to shout
My twitter...X..address is @GrahamHengland
You are welcome to read my witterings there...I cover many things ...not just shares
I am now an old boy...with a decent enough track record
My personal details have been widely published.
I post under my real name
I had thought that publishing my research and thoughts might be viewed as helpful...
but doing so, seems to upset you greatly
I wish you well
But I am perplexed
Please show me anything I have posted that is wrong...I have wracked my brain and cannot recall anything
Please do so and I will be happy to issue a correction
Thank you
Graham Harrison
AKA GRH
Importantly...
I must again point out that irreducible risk remains ...
due to the nature of the enterprise
Lovely.
Enjoy the rest of your evening.