George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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As an aside,
Report commissioned a few years ago by SNP showed wood burning stoves using locally managed wood produced less Co2 per Kw output than fossil fuels and renewables.
What does the SNP do ? Ban them in new builds.
I can see an issue if poeple use poor quality stoves to burn unseasoned wood in town centres, but that should be handled by smoke control legislation, but in the middle of the Scottish Highlands .......?
Meanwhile Drax gets huge subsidies to burn imported hardwood pellets.
Lions led by donkeys it seems
Keith that is terrible news, such high emissions,get greta thunberg on the case straight away how can they spoil the inviroment with such HIGH emissions from importing gas from england, im trully disgusted, what they need is local gas, where they will find it i do not know.. p.s. ask greta if she knows how to spell predator? there is no arguing with the maths is there, home grown gas rules.... mr. biden has made a fortune for usa exporting cng to us and europe since the fu****g r uSSian cut off the gas to europe, but just think of all those emissons getting the overly priced gas from america.maybe someone can copy and paste to social media the high emissions caused by not using local gas,,,
Jimmy
The priority should be the successful flow test of mou 1,2,3 and 4.
The main fan prospect is mapped over 68 sq km sitting above a shale dominated sequence.
I have full confidence that predator will successfully flow test the Moulouya fan deposit.
A successful outcome will be transformative for the company and its shareholders.
In a success case we could be subjected to a possible takeover. After all we are explorers, prove up and sell.
Incidentally, the zelten platform is charged by the deep shale base.
However to use pv72 cake metaphor, the neogene fan sequence is the icing on the cake. The cake is the unexplored deep trough. We cannot allow any takeover without attempting to prove up resources.
The zelten platform varies in porosity up to 40%. It’s reasonable that the A high-graded area totalling 55 sq. km identified as potentially leached based could deliver similar porosity.
Of course like you, I would prefer to use the revenue generated from the CNG and drill out the Jurassic prospect. However, I fear we will not get the opportunity.
Time will tell.
All the best.
RNS 12 Jan 2024. "The Company is fully funded to execute the Phase 2 rigless testing programme."
RNS 05 Feb 2024. "The Company is fully-funded to drill MOU-5 using currently uncommitted, discretionary, cash on the Company's balance sheet."
Corporate Presentation 14 Mar 2024. p.3 "SandJet ready to mobilise in April 24" and "Coiled Tubing Unit availably by end-April 24"
It's AND not OR. Equipment (SV-101) delays with other in-country companies (yet again) looks likely to delay MOU-5 drilling until after the SandJet programme is completed. I'm happy & relaxed, expecting an operations update later this week or next week. I don't understand why others have vortices in their underwear - Paul Griffiths, 14 Mar 2024 09m10s "We have a path here to develop a world-class asset that will be very, very saleable, in a very benign tax regime"
@seabright, thank you for a deeply technical macro perspective. One I will research into a bit more in due course.
@Jimmy, I can see the logic behind your concern re priorities but I believe they want their cake and eat it. I.e. get both sandjet and mou5 drilled as soon as they possibly can to maximize value. I guess time will tell if they get this right or other delays manifest themselves for either option.
GLA patient holders
Seabright.
You have provided a good summary of the jurrasic prospect, and indeed I do like the prospect particularly as two periods of basin inversion are likely to help with fracture porosity. However, my concern is if prd are going to prioritise drilling the carbonate prospect which has an independent technical report chance of success at 12% or proceed first to sandjet perforation and flow testing, particularly as the total gas bearing reservoirs established to date are circa 175 meters in mou 1,2,3 and 4 which is likely to be greater than the porous reservoirs in mou 5 .
Perhaps I am missing something .
Jimmy
Great reading your post Seabright, very informative as always, Thanks for sharing your knowledge
Apologies, somehow LSE removed the capitals from each sentence
the guercif jurassic bank is about to become the next hydrocarbon property hotspot.
it’s a jurassic porous carbonate platform development area of approximately 177 sq. km. a high-graded area totalling 55 sq. km identified as potentially leached based.
in the september 2021 predator presentation, pg compared the jurassic bank to the prolific zelten carbonate platform in libya.
https://wp-predatoroilandgas-2020.s3.eu-west-2.amazonaws.com/media/2021/09/29105657/webinar-presentation-website-version-28092021-corrections-15.40pm.pdf
lets take a look…
all part of the central atlantic magmatic province (camp).
a phase related directly with central atlantic rifting.
rift basins that have undergone uplift, compressional, and strike-slip phases.
basin architecture with horst, graben and half-graben structures.
deep troughs with structural highs and deep depressions.
deep major syn-sedimentary and strict slip faults controlling the positions of the troughs and platforms.
thick paleozoic shale basements.
the opening of the tethyan sea…causing a huge influx of sediments.
marine and lagoon environments dominated.
filled with continental co**** clastic deposits, sandstones, lacustrine beds and the emplacement of tholeitic basalts of the central atlantic magmatic province (camp).
leading to the deposition of a thick evaporite carbonate platform and subjected to dolomitization and leaching by groundwater though porous zones.
the gravity data shows that guercif jurassic bank has similar structural high ridges and depth to the zeltan platform.
it should be noted that the extension period is anticipated to include a commitment to drill at least one well to 2750m to test the jurassic potential.
it is reasonable to believe that guercif basin, which has barely been explored, has enormous potential reserves still waiting to be discovered and up to now…
we are merely scratching the surface.
imho
dyor
A little FYI, a large Irish Green Party conference, ahead of upcoming local & European elections was held in Dublin at the weekend. I expect any O & G license updates could only be released afterwards :-)
https://www.gov.ie/en/publication/10d43-acreage-reports-and-concession-maps/
For the record, I am currently not, nor have I ever actually been a ninja.
TB
What am I missing here?
Taking things at face value, are you saying that someone who has a successful record in O&G investing being “All in” here is a negative ?
For claricatiob, I suspect that all in refers to the Speculative part of his investment portfolios, and not the family home or money borrowed off the Provy man
Wow!
You obviously haven’t been reading the board and researched the company and the people invested here as long as some of us The Bold!
Back to the drawing buddy.
Interesting quote:-
We are now in the process of progressing FEL 4/19 to drilling, which requires us to attract additional partners to this highly prospective licence."
GLA
An updated report for Europa on the CO2 intensity of Inishkea West gas vs. imported gas - remember Inishkea West is adjacent to Corrib, but on the opposite side to PRD's Corrib South, so we are likely to have very similar emissions.
https://www.londonstockexchange.com/news-article/EOG/updated-irish-licence-emissions-report/16432823
Hi Foot and mouth - Who are the named posters with “ significant commercial success “ in this field carrying so much weight as you day , do you care to name those posters ? …could you please name them and then name the considerable success they have had in calling successful and unsuccessful drilling and testing outcomes before the were drilled ..only.
Seems to me if these people have had so much wonderful success in the past then the main protagonist ( you know the one you quote word for word most times like someone has just pulled your string at the back ) being “All in “ as he says here , must either be not quite the success you claim or just very very greedy to keep his 100% success rate going ….im just so confused , . You hero worship someone who has had 100% success as you say in oil and gas investing , but this poster is now “all in” here at the twilight part of his wonderful successful life ? Is this the last great hoorah do you think ?
No
Have you had anything meaningful to contribute?
You won’t
Tmhsdx6,
Had any more wobbles recently?
You will...
Smart beds ( the irony of the name!)
Do keep up fella. Jimmy has already publicly declared his answer to your ridiculous question.
Has PG posted his photos 📸 he promised yet?
Anyone ???
Is institutional buying still happening in the background as stated by a few happy clappers on here?
Found myself reading today’s exchanges whilst sitting on the terrace where Mr Fitzgerald penned his opus The Great Gatsby. Questions of identity and integrity are clearly nothing new. Named posters particularly with significant commercial success in this field must for obvious reasons carry weight. How can it be other ? Fascinating few months ahead 👍
Jimmy
I've mentioned before there is potential for communication at drill points within a reservoir which can achieve similar ends to multiple drills around pressures indicating connection/single large accumulation.
If the pressure is there, the prove up drilling is likely to be benefit to stub equity and management likely to fry to sell sooner than hang around for 12-18 months to generate cash and then plan for more drilling.
Need to therefore crack on with the tests.
“Beware Shepherds who shear their own sheep”
Seconded.
Hi SmartBeds,
Its a baseless smear perpetuated by Graham and Bob, so implausible as to be embarrassing, imo.
FWIW i rate Jimmy as an outstanding contributor, one of the most polite, unassuming and informative poster ive encountered on LSE.
Hi smartbeds.
I have answered that questions previously, but will repeat.
I am not Jimmy Lea and I am not connected to chariot in any way, directly or indirectly.
In addition, I confirm I have no communication with chariot or its management or directors.
Yet some continue to imply otherwise.
Must be trump supporters.
Jimmy