Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Good to see:
https://www.londonstockexchange.com/news-article/PRD/ratification-of-guercif-petroleum-agreement/16448809
BW
An RNS notable for what is not said as much as what is.
Isnt that typical of Griffiths
“ preparations for the Sandjet rigless testing programme can now be progressed as planned.”
From that sentence , do we assume that we have or have not even planned as yet for the transportation, importation / mobilisation of the spreads ?
The CTU and SJ spread will all be temp import equipment , the only permanent import will be the abrasive material .. I’m not sure we have even started the transport and importation process, tbh, that sentence looks like we were not committing any costs until we had this licence in place which it finally is now, If this is the case we could be 2-3 months before we get the kit in and ready to proceed with jetting. It would be good to have some clarification here !
Judging by some of the comments on here, trolls have been caught cold this morning.
Didn’t Paul mention in the last presentation that CTU and sand would be in place by the end of April?
“preparations for the Sandjet rigless testing programme can now be progressed as planned.”
If the kit were here as he stated , should the verbiage not be,… “ The Sandjet rigless testing programme can now be progressed as planned.”
Clarification should be sought if our kit is actually in situ in Morocco …
You mention “if the kit were here” the bold.
Where are you?
Careful now you might give yourself up along with your friends/colleagues.
🤫
The Bold…. Mate, you are really testing patience on here.
Ha ha, you think I’m in Morocco, well I can assure with 100% certainty I’m not. , never ever been there, never will…..
I meant here as in our here ie it’s all out here isn’t it ? Where the operations will be.
Thebold….. I’d be very surprised if you held a single PRD share.
I hold over 200k actually, not that it’s any of your business.
Oh so now “where the operations WILL BE”
Jog on sunshine, there’s a good lad.
Nice update this morning and good of the management to confirm things.
Onwards and upwards.
Hi Fordie,
Not about me, it’s about our operations.
If we get confirmation our kit is in situ , then all systems go, however I don’t like the word preparation being used as that intimates to me we have not as yet prepared anything until we got the licence sign off today. Does preparation also encompass transportation and bringing into country etc ? I just do not know mate, do you ?
Jimmy/TheBold
Management I'm.pretty sure indicated coiled tubing was available mid April and other kit would take a couple of weeks. Suggestions of months from now for Sandjetting are I would think wide of the mark.
I doubt the approval process is a closed box with no comms back and forth to PRD from the various regulatory bodies in country. We should hopefully see further info in due course
In the last presentation from 12.40 CTU will be coming in from Italy, expected mid April.
It’s also worth looking at the slides on screen which gives the dates for previous extension where PG goes on to explain that they couldn’t organise the SJ testing within the 2 months available.
Hopefully this will mean that everything is now in place and we should get a start date very soon.
Hi IJWT,
You are aware I’m sure the SJ spread is a completely separate specialised pumping spread to the CTU which is a coiled tubing unit and allows the pumping and abrasive to get to the blocked areas with a flexible tubing on a large spoiler ( without using a rig and drill pipe ) One spread cannot work without the other in SJ operations. The SJ spread we were advised needed to be mobbed in from France I believe.
Listen mate, I’m just opining a concern , I don’t like the word preparation as it basically could cover the entire planning of the operation from the very start, or it could cover a lot less and kit was mobbed in awaiting the licence award, however we do not know, do we ?
If the SJ and CTU kits were in situ or will be imminently (few days, a couple weeks) surely that news would have been bolted on to the licence award, that again is IMO. However all we got was the word “ Preparation “
I dont agree with much of what MEM says, but he posted spot on , we need " meat on bones"
Bold
I mention CTU because it seems to be the most scarce element of kit required for Sandjet testing.
While I've been critical on messaging I think management will have been planning for the approval and procuring kit in timely fashion
The only thing that will be procured for the SJ ops ( purchased) is the abrasent and some chemicals, being the only tangible permanent import required for SJ operations. I doubt we would get those on consignment.
Everything else needed are under rental spreads covered on service orders or service contracts coming in on temporary import , which financial commitments would need to be entered into as soon as shipping commenced from delivery location to our custodianship in Morocco.
So all I am asking is , did we enter into these service agreement's before we were issued the license that we received today and we committed to costs , or were we waiting for the licence we received today to enter into these service agreements and then commit costs. The 2 different scenarios actually mean very different timescales to potential commencement of operations.
The only word we have is “ we now commence preparation”
You seem to be reasonably knowledgeable regarding equipment etc.
What is your line of work?
You also seem to be able to comment on such things with a degree of certainty.
The bold,
much as it pains me to agree with you, esp. where comms is concerned (stale slice), does anyone know of the current location of the legendary sandjet kit/ coiled tubing unit? ( filling) which we are now assured is being “ prepared” , (extra stale filling). Anyone?
Today’s message from the bod, while not quite the bumper dream -pumper we have all been clawing for, provides immense hope of something happening, somewhere, soon hopefully in Predator’s 50 ticks prospective acreage of N Morocco. it expect it also helps prepare a better price for the second tranche of bonus shares awarded to the bod last Christmas not yet took.
Meanwhile, a nifty 10+% today for the daily posters. Well worth taking off the table imo.
DYOR.
GLA
Oh, Fordie will not like that , he will now have you down as a rancid cheese on blue mouldy bread sandwich !
I will be delighted if sandjet perforation starts in three weeks as Keith suggested and the only basis for my estimate of a couple of months is past performance on meeting timelines.
Not doing the company down, just trying to be realistic.
Jimmy
@Jimmy - I'm delighted that our views on timing are at least converging - just 2½ hours ago you were at 'a few months', now it's 'a couple of months'.