Member Info for Adon30

Yes, would like to see a possible timescale for the follow up exploration drills and plans/ timescales for producing from the paradox. Think a new presentation would also be good.

Most things are down today and most industries.
One of the only sectors showing as up was Tobacco. Must be from all those needing a nicotine hit while the other markets drop

Egypt... That'll explain it.
Think borders are currently closed to Morocco until 31st Jan.

Keith I think they'd likely use star valley Rig 101 as it is the 'in country' rig for that area. Also a mighty quick drilling rig. Not as quick as the star valley one TXP have imported to T&T though as that's even bigger! But also has to go a lot deeper.

If SDX have spudded the next well does that mean Covid entry restrictions have now been lifted in Morocco?

They do it wherever they post. Same on Char, Bloe, here... at least they're consistent LOL
I think they are a glass 99.9% empty type of person. I've read things on other boards about them as well as the normal 'deramp' stuff. Just one to keep an eye on and always DYOR rather than relying on others.

It’s a pain that it has taken so long and the resultant sp drift. But a great buying opportunity at these levels.
If you go back and look at the 22nd November rns you will see what they are buying and what the expected payback will be. This however will act as the short term cash cow (ignoring the secured debt) to get the drilling program fast tracked in the cane creek which will ultimately lead to an even higher cash flow which will be achieved in a much shorter time.
They could ditch this deal, not that I’d want them to do as it is so good and the board have agreed excellent terms when the oil prices were much lower. If they did however it would be a slow March to get the paradox developed and we all know the ultimate plan for this company. Prove, develop and sell.
In the meantime however if you also cast your eyes back to the half year results they were already producing over 500 bopd from the current assets with more due to come online and flow rates improving.
So at roughly $60 barrel NET (May be slightly more now) they would have been taking $1m a month. So there is already a large cash flow coming in and that will be 4-5 times larger with the new asset and larger still with the cane creek.
So what I’m generally rambling about it is always worth looking back at what we have and what has been said in previous presentations and Rns as the forward picture is extremely bright.
Also don’t forget the carbon neutral aspect and the premium that attracts!

GLA

A lot of buys going in this afternoon.
Let’s hope for that Thursday Rns feeling. Will have been a month since last communication and that seems like an age in ZPHR terms.
However, regardless when it comes looking forward to another gem from CH and the Bod to progress this company further.

Well I can tell you that the rig still was not at Coora yesterday. Although the pad looks nearly ready for it.
No other 'eye in the sky' update though as a bit cloudy.

Yes debt financing is the preferred option and the bod has said that. But while it is still not confirmed it could be a reason for pinning the SP back.
The bod has always been confident and worked hard to keep their promises. So in the meantime we just have to wait and trust them.

The problem that we have is that they need to find a large amount of money to complete a purchase. This was supposed to be sorted before Christmas but is lingering on. While there is no news as to whether this will be funded by a debt or by another placing the share price lingers. As holders we all hope the former but no news does not help SP in the meantime.
The state 16-2 well is currently not producing either while they sort out gas off take to comply with esg that they have set. This is currently a huge amount of income that they could be taking but they need to get it right. The oil has been there for millions of years but the market is currently penalising for any delays.
The oil is there, the gas is there. It just needs a little patience whilst everything is joined together.
GLA

Buys still doubling the sells so looks like it is picking up with volume nearly matching yesterdays.... and still only mid morning....

1,874,495 v 966,168

I don't often look but double the number of buys yesterday compared to sells
1,919,043 v 904,908

Chariot have completed there Anchois drilling and evaluation. The General Director of ONHYM, Mrs Amina Benkhadra, has come out in full support of them "My congratulations to Chariot and ONHYM teams for the successful Anchois drilling operations. I also would like to thank the Moroccan authorities for their support and help in achieving the drilling operations efficiently despite the Covid-19 pandemic restrictions. We look forward to working with Chariot in order to quickly progress the gas development."

Let's hope for an equal support for PRD with an even faster route to Gas production Onshore.

Island Defender is down in the port of Agadir currently. It often pops off for more supplies

That was my other thought....

Island defender has been to Tangier and back in last day though

So far SD has moved 0.26nm which is about 500 meters

According to tracking Stena Don may be starting to move.... Island defender close by still.
Not sure how far it needs to move for next well as it is only a slight drift.

Try that again as I missed a bit....

"Further good news today as PRD announce that the CPR establishes gross Contingent Resources of 393 BCF following MOU-1, always a well that the management believed in. In addition, the document gives the company an Estimated Net Present Value (unrisked) for Predator’s 75% interest US$592 million which quite rightly pointed out by the CEO, demonstrates a huge imbalance between market cap and potential.

Readers know that I am a huge fan of Morocco where high gas prices and favourable fiscal terms offer the chance of significant growth for companies who trust their own judgement in building a portfolio in country and always with the help of ONHYM.

Finally it is interesting that CEO Paul Griffiths has opened the door for an ‘additional option’ of monetisation via reversal into ‘an entity wanting exposure to the Guercif opportunity’ by not discounting such a move. In my view PRD offers a number of ways of creating significantly more value and is open to offers of all types and is aware that it has a fantastic portfolio of assets in Morocco which is one of the best markets in the world right now. "

Comments:
"Readers know that I am a huge fan of Morocco where high gas prices and favourable fiscal terms offer the chance of significant growth for companies who trust their own judgement in building a portfolio in country and always with the help of ONHYM.

Finally it is interesting that CEO Paul Griffiths has opened the door for an ‘additional option’ of monetisation via reversal into ‘an entity wanting exposure to the Guercif opportunity’ by not discounting such a move. In my view PRD offers a number of ways of creating significantly more value and is open to offers of all types and is aware that it has a fantastic portfolio of assets in Morocco which is one of the best markets in the world right now. "

https://www.malcysblog.com/2022/01/oil-price-predator-pharos-uog-and-finally/

Hence why I posted on Char earlier this morning.
Char already have agreements in place for off takes. Now all those large companies and investors sitting on the fence will take notice of that and start looking at what else is available in the area or who they can cut a deal with and quickly before they are beaten to it by someone else. Big success story for Morocco.
Char still also have re-entry to anchors-1 to come as well so can see them making even further growth and sets them up nicely for their other projects.