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Nigel
Why is that an educated remark. He said it could be this price by this time next year. Yes it could be but there again it might not be. It is his opinion and must admit i tend to agree with it. It could well be but personally i think this is an all or nothing share so i doubt if we will see £4-£5 we will either see 8p or maybe even £8. Depends on whether we get things to flow. If they flow this share could go anywhere.
£4-£5!?
What an astonishingly uneducated remark!
Has it been that long?….
Well why didn’t you say so!!
Keith.
I believe Sou had a major tax disagreement with Morocco which has only recently been resolved and now they get their licence updated.
When lonny worked for SDX in Morocco, they were abele to flow test numerous wells within a couple of months of completing such wells. It’s nearly three years since mou 1 found gas and still no sand jet flow testing , hence my frustration at such delays, as I invested on the basis of promised sand jet perforation and early cng production which I am patiently waiting on.
Jimmy
Bold, as you well know they will not tell me, unless its in the public domain !!
Interesting context KeithOz
MEM,
I’m sure our IR team would answer your concerns ? Have you emailed ?
I think we should all have a little wager , we are all gamblers anyway right, or we would not be here.
Who wants to bet SV101 will be going to us first before Char and who wants to bet SV101 will be going to Char first before us .
I know where it’s going after SDX completion.
I have frequently become downhearted at lack of Comms, never more so than right new.
1. PAA No 4 ? Yes or No, if No, what is the issue
2. Depending on answer to Qu 1, what is the new timing for SJ and Tubing to commence testing
3. Drill rig ? Any knock on to Qu 2 that impacts drill rig timing, and do we have a likely date for the rig ?
PG controls a large % of planning, I expect if PRD can no longer meet the guidance PG himself set, he should update the market.
This is transparent business Comms.
MEM
"prd seems to have a poor history of getting timely regulatory approvals in Morocco."
I suggest a more accurate rendering is that "exploration companies in Morocco seem to have a poor history of getting timely regulatory approvals in Morocco." If you take a look at the SOU RNS this morning, you will see that they applied for an 18-month extension to their exploration permit in December 2022. 16 months later, they have approval - of sorts - but still awaiting Ministry sign-off with only 2 months of the 18 left to run. To be fair, they have also arranged a further extension with ONHYM, but again, this still does not have official ministerial sign off.
To intimate that these delays are the sole fault of PRD management is clearly misleading.
Jimmy,
The echos in your house must drive your other half up the wall. 🦜
IJT
The rns stated the timinung of sand jet was as follows.
“ Mobilisation of the Sandjet crew and equipment will occur shortly after Petroleum Agreement Amendment #4 has been ratified and all necessary regulatory approvals for Sandjet rigless testing have been received. The time framework for the Phase 2 rigless testing programme will at that time be updated.”
The licence amendment no 4 was submitted on 23rd January 2024.
If the relationship with onhym was as good as many investors think then the licence amendment should have been completed by now. Unfortunately, prd seems to have a poor history of getting timely regulatory approvals in Morocco.
Jimmy
Pv72
I hope (and expect) PG is pushing size of PRD resource to prove up versus Chariot and suggesting to OHNYM we should be head of queue.
Mentioned last week I think Sandjet is imminent as this delivery seemed contractually definitive in the comms.
Appreciate that drills can be a challenge due to kit my frustration is, if we have allowed ourselves to fall to back of queue when it has been planned for sometime.
Char has signed a contract to drill two wells, this contract does not include a "window". PRD have signed a one well contract that does not include a "window". Both CHAR and PRD gave expected times for drilling, but in simple terms they have a slot in the running order for the rig with no fixed dates, only estimates. SDX has overrun pushing all drills back.
The bold, i'm not saying anything I'm just following the rns's.
You've put forward a timeline that I'm just trying to understand as it's not independantly verifiable
How do you know they don't have a drilling licence by the way?
People on here want a running commentarty (daily update) yet experiance shows PRD will NEVER give that.
You seem to be negative because an RNS hasn't been released (no drilling license) yet ignore the ones that contradict your prefered narrative, why is that?
Reminder..for some… https://wp-predatoroilandgas-2020.s3.eu-west-2.amazonaws.com/media/2024/03/Final-Proactive-Presentation-14-March-2024.pdf
I hear Chariots offshore well delayed a month.
Not that it will worry PRD
So are you saying that the rig SV101 is coming to our Titanasaurus next , even though we as yet have no licence to drill ?
Hi the Bold
Can you explain please how you arrive at your time line?
Looking at RNS's Char's window has past with no confirmation of drilling (?) "by end of Q1" PRD's window is to the end of May and Sou's window is from June.
PV72: Thanks for that .... i was thinking along the same lines.
Lol. Well done Fordy. The old ones are the best!
@IJWT - I share your frustration to an extent on timescales, as im sure we all do. But I suspect there is no news because negotiations are still ongoing on the running order for rig use with the other interested parties. If I was PG and thought I'd be at the back of a v long queue, I'd be on a charm offensive to try and push myself to the front of it.....as for sand jet, it wouldn't surprise me if that kicked off in a couple of weeks, or they slightly delay it to align with the drill rig work. All just guess work for us but just wanted to offer other potential explanations for the delays in comms. Not all delays are bad.
Pardon?
Usual mushroom treatment from PG.
At the Proactive event Sandjet equipment was due to start arriving from mid-April with testing commencing end-April.
Note the Financial statement contains a note saying the contract is signed for SV rig but not timeline.
I do hope given how long it has been mooted that they have ducked in before Chariot/Sound but the silence is currently deafening.
AV, I wouldn’t disagree with you for once. So many outside influences affect the share price. The one thing in the Bods gift is to set a time scale, stick to it or update us if it changes. We are all aware what we potentially have as we are aware that testing is required to find out. Let’s hope we hear something before the end of May or it’s going to be a long summer.
Well that would be fantastic…..still hoping.