The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
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I see some comments have been added to the page
https://www.malcysblog.com/2024/04/the-bucket-list/
Looks like Malcy has gone cold on Morocco in general.
I seem to remember Malcy getting a terse response from PG last year.
I note the reply to a question in the comments box mentions the lack of testing. But Malcy has previously mentioned, if PRD can prove the gas is there and it flows it will be a real game changer.
I understand that malcy has previously acted as an advisor to Onhym so perhaps he has an insight into prd plans for flow testing
J
Best laugh for that post!!
Really?
Closet dood fully open now..
@ Jimmy23 Malcy got the short shrift from PG last year.
Why don’t you ask Malcy, sure you know him!
PG does not seem to have enamoured himself with analysts… is there anyone that PG has not given short shrift to ?
ONHYM
Malcy, when you’ve finished that pie would you provide us with strategic advice about the oil and gas industry in Morocco?
Sure, it’s a bit rubbish, no one can make anything fow.
Oh thanks, we’d better build some windmills.
No worries. You’d better excuse me. I need to to rewrite all the sports news by insert footy footy club nicknames.. The punters think that’s Brilliant journalism.
Burp
Chris knows. .. .. If Malcy is advising ONHYM....
... then we're all doomed!!!
🤣🤣🤣
That has to be one of the most hilariously ridiculous posts I've ever read on LSE! (And that's saying something...)🤣
Morning all,
While we wait patiently for an operations update, I thought I’d review all official communications (RNSs) from the company so far this calendar year and share what I thought were a few pertinent points relating to the upcoming work programme. We all have the option to listen to some of the unsubstantiated claims written on this bb if we so wish (many of which are becoming ridiculous to the point of hilarity, IMO) but, personally, I prefer to focus on what Paul (rather than Malcy) has to say...
Sandjet and CNG:
• The Company is fully funded to execute the Phase 2 rigless testing programme. [RNS 12/1/24]
• We are very confident that we can design the Sandjet testing parameters to extend beyond the zone of formation damage [RNS 20/2/24 – PG comments]
• For guidance only gas flow rates in the range 1 to 3 mm cfgpd from each of these wells in a success case would potentially be sufficient to support a future CNG pilot development option. [RNS 26/1/24]
• We have also encountered shallow higher pressure gas that was better protected from formation damage whilst drilling by the setting of a shallow casing string. This can also be perforated and tested now using Sandjet, even though it sits behind two casing strings. [RNS 10/4/24 – FY. Note: The A sands hold ~30Bcf of gas worth ~$150M net to PRD (see Proactive Presentation)]
• We are confident that potential gas flow rates using Sandjet will fulfil the potential 50 million cubic feet of gas per day profile facilitated by the Collaboration Agreement with Afriquia Gaz [RNS 10/4/24 – FY – PG comments]
• Funding the CNG development can be achieved using discretionary cash on the balance sheet combined with a leasing arrangement for CNG trailers and equipment. For this reason it has been important to develop the scale of potential CNG gas sales in Guercif, in a success case, to provide greater leverage to negotiate leasing agreements with greater materiality for potential service providers [RNS 12/1/24 – PG Comments]
MOU-5 / Jurassic (Titanosaurus):
• The Company is fully-funded to drill MOU-5 using currently uncommitted, discretionary, cash on the Company's balance sheet. [RNS 5/2/24]
• MOU-4 NE is forecast to take up to 12 days to drill. [RNS 12/1/24]
• MOU-5 is not expected to be drilled over-balanced with heavier drilling mud as the problematic mobile clay formations present in MOU-1, MOU-2 and MOU-3 are not expected to be developed at the MOU-5 well location. [RNS 5/2/24]
So, for the avoidance of doubt:
• We’re fully-funded for Phase 2 testing AND the initial CNG development AND drilling MOU-5 (Jurassic).
• Paul is confident that sand jet will penetrate beyond the formation damage in MOU-1, 3 and 4.
• It’s even more likely that the A sands will flow and these sands alone contain enough gas to easily exceed the low commerc
(sorry, last bit cut off...)
• It’s even more likely that the A sands will flow (due to a relative lack of formation damage at this level) and these sands alone contain enough gas to easily exceed the low commercial threshold for CNG.
It does make you wonder if Malcy has actually even bothered to read PRD’s RNSs…?
Notice the word discretionary cash for cng and mou5 or imo means one or the other. The maths simply do not add up to be funded for both. At best mou5 would be funded at a push but nothing left after so would need fund raise so most likely that would happen after testing or drilling depending on what operation the get round to doing first imo
Perhaps my cat could meow once for yes and twice for no,then we would all know if the gas is gonna flow we will know once news/rns lands unless there is a leak or tweet/x/face/or any other s.m platform news. wait my cat is scratching at the door ,i think that means sand jetting is delayed... sell sell quick,,,,,,,,,
jimmy - malcy has no insight, anymore than we do. he is probably ****ed at getting the cold shoulder from pg back in october/november if i recall.
i understand that malcy acted as a consultant to onhym briefly at the all morocco tagine eating championship.
@porters - I'd be interested in seeing your calculations to show your assertion that the maths does not add up?
Mumb jumbo and others, really showing your self in a good light by body/fat shaming an individual.. well done…
I took the trouble to do a search on Malcy+ONHYM. Nothing of course, but I was interested to see on his company website (HydroCarbon Capital) that their only client appears to be Dart Energy, who were delisted from the ASX in 2014. However, Malcy "is available as a non-executive director as and when required".
Only a bit of a fun Thebold, no malice intended. But I take your point, apologies to Malcy if he is offended.
While on the subject of character assassination ... I was having a look through the lse CHAR BB. Couldn't help noticing these posts (abridged) from different posters on the same day, addressed to the same person:
R. constant disruptive posts -
"last post to you today *** as your constant desire to argue/disrupt (and not just on here) is just boring......🤫
Perhaps you should take a step back and ask yourself why 🥱 Genuinely think you should seek help as I think there may be some unresolved issues troubling you 🤷♂️"
Re. repeated plagiarism -
"Nearly as embarrassing with posting a copy n paste n rewording it to sound like your own comment🤭🤭"
and with regard to using multiple account names...
"I actually feel sorry for you as every time you try to deny you are a reincarnation of the above, which most of us, if not all on here already know, you just make yourself look even more stoopid.......🤡"
Here's a clue, they have posted here seven times today.
Keith,yes he has been rumbled on a few occasions by various posters. He is without doubt Shareholderchar, threw all his toys out the pram a while ago because people expressed their diff opinion/views and also questioned his own agenda in what he tried to enforce on others. It was simply embarrassing reading his thread about why he was removing himself from the board,not to mention pathetic. Yet here he has appeared under a diff name. He calls this forum a "Cesspit " his words yet continues to post,jeez oh....
Mumbo - no great fan of Malcy but he has a very valid point about testing - why has there been no testing? no one has come up with a plausible reason
To fully maximize value creation for shareholders.
Good weekend all 😀
@keithOz, if you google Mrninjazx6 + ONHYM you would probably get better results, and I too am available as a non-executive director as and when required.
Hi Granit we had 6.5 million roughly at the start of the year minus:
Testing everything is 3.8 million from project allosaurus
Generous 6 month costs 3/4 million
Leaves 2 million roughly that does not fund a drill and initially cng project