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On these Bulletin Boards, one always has to exercise some caution.
There are both rampers and de-rampers.
Some are paid to take whichever position (usually to create trading volatility – they do not care at all about the ultimate outcome, they just need the SP to move up and down as per their dog-owner’s instruction).
And then there are true quality posters who really contribute very high quality information and insights that would be close to impossible to find anywhere else.
Then there are very strange ones, where one comes to think that this could be some kind of agent provocateur situation.
Or a sleeper cell.
I used to regard Jimmy23 highly.
He was measured, often had good technical insight, was cautious but without being hysterically negative (Little Nige, Porters and that crowd), so I saw it a being a useful stress-test on the investment case for PRD.
I have, regrettably, come to the conclusion that Jimmy23 is some kind of paid troll.
Totally agree Sefton82
Sefton, has your butler been slipping common sense tablets into your Brandy and port old boy?
Sef has now admitted to cognitive dysfunction: how on earth did he arrive at the conclusion that Jimmy23 is a troll? In fact Jimmy is the most coherent and honest poster here.
You see, he has balanced viewpoints, a good example is that he is clear that the, ok, let's call them discoveries have compartmentalisation risks that have NOT been disproved. Until PRD can provide an analysis of flow rates and volumes this remains the case.
Nigel - Ofcourse it needs to flow.... The same is for CHAR too... They tried to ape PRD except but unfortunately for them, dont have PG going through the seismic interpretation. CHAR better hit something worth flow testing in their second drill or the funding for Anchois is going to see lot of dilution...... The Energean deal carries a bill for CHAR. Either you are wilfully ignorant of this fact or just side stepping it. Have you and Jimmy demonstrated this "coherent honesty" over at CHAR or its just reserved for PRD?
Anchois was drilled after 3D analysis
Risk exists for well #2
PG's third company pecking around in Morocco
Jimmy's knowledge is professional, I'm just a PI.
Try not to be delusional? It's fine to be in any or all companies.
Don't restrict yourself to one nation or region, too risky.
Bored with you now
Little Nige and the crew always turn up in numbers to post when one of their own (Jimmy23), gets rumbled for being a troll.
Or an agent provocateur.
Or both.
Just an observation....
Sefton,
You are so very wrong.
J
Nigel - CHAR has a particular skill in finding dusters from 3D analysis. Indeed you should take up your own advice about not being delusional. Or If you are going to apply the fine tooth comb then do so elsewhere too and not selectively with PRD. I am not wedded to PRD, who knows I may even invest in CHAR if they can put a good set of results from their drills.
I am more of an investor in Biotechs where my own area of exterior lies. Though PRD is one of my largest holdings in O&G, I am well aware of the pitfalls and slip time lines etc.... it's nothing new for the investors here. At some point, all hands will have to be revealed and at that point, it will either make me lots of money or lose lots of it. This is the nature of thegame.
It's hilarious Jimmy, I suspect that Sef1882 is a made up character...so like 'Major Misunderstanding' in Viz haha!
Well done Jumbo, you are correct. That is you were correct until they made an almost certainly commercial discovery.
As usual I will be one of the ten percent in any given O and G to make money. You see chaps like you, seff etc arrive at the party way too early.
I’d guess Sefton82 relates to the famous Household Cavalry Regiment horse terribly injured in the dreadful bombing by the IRA in Hyde Park during 1982. Sefton recovered, whereas four unfortunate members of Blues and Royals died, together with several horses.
Hey Nige
Give us your pearls of wisdom as you are in the 10% who are going to make money in O&G.
Where should I be investing?
Davwal,
Yep, Sefton82 is a homage to the Blues and Royals horse who survived that terrible day.
I was not Household Cav myself.
But Sefton was actually an Irish horse.
Thank God we have peace in Northern Ireland today.
It's relatively peaceful but far from perfect in n.ire,and unlikely to be for quite a few years to come.
Ok, feel free to chuckle and allow 12 months. Firstly, not great timing to wade into the majors, that was during the early recovery post OP collapse. BP was a good earner, should have held it for longer.
Char, Jse, Rkh and long odds punt on Eog, Bor. Possibly PRD but investing now is a high risk punt on non compartmentalisation.
Avoids? Everything else but especially PANR and 88e.
Feel free to call me an A* turkey in 12 months and I will accept it!
Nigel.
Compartmentalisation is a major problem when the cost of drilling is so high, pg will know this from his days at seven heads gas field.
However, onshore when the cost of drilling is relatively low , it does not cost a lot extra to drill different compartments if there is compartmentalisation.
The key issue is what are the flow rates of each the reservoirs that have been found and if the pressures between wells and reservoirs can be correlated as being in communication. That’s the start. If further infill drilling required that’s fine as long as it’s financed from production cashflow, there’s no ongoing equity dilution.
The ongoing silence regarding sand jet perforation is unsettling.
Jimmy
Offshore high cost of drilling
Hiya,
Why is it unsettling?
Let’s say we don’t test for another two months and then drill mou5.
Ok short term the market and traders might not like it but why would it unsettle investors.
Ok we may need more money but we will need money at some stage in future. Admittedly not as much as say chariot for their offshore project.
Paul is the biggest shareholder so any dilution affects him and I believe he will always minimise this even if it’s not popular with regards to waiting.
Always Remember what was said from day 1…
Absolutely Jimmy, to quote The Eurythmics who am I to disagree? However, more wells mean more bureaucracy, palms to grease, lower margins, more logistical complexity.
Regarding SandJet I expect there some 'interesting' discussions going on. They want top dollar (who doesn't) not thin margin standby fees. I'm still calling an evens bet on if MOU-5 will be drilled this year.
No doubt seff thinks we are a 'sleeper cell'. Rather than threatening me he ought to take himself over the water where the perpetrator of that bloody awful day in Hyde Park lives as free as a bird thanks to the Blair government's non prosecution letters.
Nige. I’m not going to wait 12 months I’m just going to call you a Turkey now. 😉
Okidoke I'm a turkey then. Your O&G calls are? Fire away.
Grh was a GKP fan but it was geological complexity, toxic regional politics and the OP collapse which lined up to stuff the original holders, every single unhedged one diluted to oblivion.
Ford.
It’s unsettling because as a pre revenue company, time is money , time for g and a costs as well as the extra interest payable to pg on loan which I believe is repayable after flow testing.
Thereby increasing risk of pre testing equity dilution.
Jimmy