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Good progress has been made on opening discussions for the offtake of gas on a larger scale than was previously envisaged by the "Proof of CNG Pilot Concept" strategy.

Financing options are being crystallised which will allow funds to be re-purposed for further appraisal drilling activity and value accretion through drilling success."

What's not to like here :)

GRH post on x:

'Interesting' development in the

BP/ADNOC acquisition of equity in Leviathan

Leviathan :

Sub sea

Thus expensive to abstract

High tax jurisdiction

Not aware of any tax holiday there?

I want to see MOU3 shallow/parallel

and MOU5 Jurassic drilled

I am not the only one

https://twitter.com/GrahamHengland/status/1708821803278250217?t=Hfcjg2W7BVp-VtmJ7ws8aA&s=19

Message to self, check post before posting 😕

Should read,

Upon reading and digesting that, perhaps it would be much more important for us if we were to drill the MOU-5 Jurassic prospect first, as also alluded to by GRH just now on x, to be followed by all the testing if required...

Hi Keith,

As regards your comment this morning:

"@ Others - I am not so hung up on the importance of flow testing as some on here are. Overpressured reservoirs tens of metres thick will flow adequately - to an acquiror, volume is all-important. If considered important, such issues can be addressed by conditional performance clauses in a contract - this is absolutely standard."

Upon reading and digesting that, perhaps it would be important for us if we were to drill the MOU-5 Jurassic prospect, as also alluded to by GRH just now, to be followed by all the testing if required...

Yes I would agree with your comments, we have a strong hand in these negotiations (not confirmed but reading between the lines, hints as such) with being fully funded and PG knows how these large corporations work tactics wise (as he has commented on in a previous investor presentation) as he was a part of such as per his CV.

Brilliantly put together post Donalb, and said individual scuttles back under his/her rock...

Back from my daily walk and luckily still dry, Inbetween showers🙂

Continuing from the Report & Interims:

Bank Guarantee:

(Under) Going Concern

A successful negotiation with ONHYM has taken place that allows the US$1,500,000 Bank Guarantee in favour of ONHYM to be rolled over to the First Extension Period of the Guercif Petroleum Agreement thereby saving US$2,146,000 for the Bank Guarantee required to enter the First Extension Period.

And

(Under) 2 Segmental analysis

(i) The Company's subsidiary, Predator Gas Ventures Limited, on 19 March 2019, provided a bank guarantee of US$1.5 million to Office National des Hydrocarbures et des Mines, who act for the Moroccan State, as a condition of being granted the Guercif exploration licence. Predator Gas Ventures Limited was required to lodge a security deposit of US$1.5 million with Barclays Bank Plc to secure the guarantee facility. ONHYM have agreed that the US$1,500,000 bank guarantee for the Initial Exploration Period be rolled over to the First Extension Period to replace the requirement for an increased US$3,646,000 bank guarantee.

The restricted access cash balance of GBP1,188.863 represents the aforesaid security deposit and is denominated in US Dollars. These funds are refundable on the completion of the Minimum Work Programme set out in the terms of the Guercif Petroleum Agreement and Association Contract. All other receivables are denominated in Pound Sterling.

In the Report & Interims, it's good to know PRD now have a free reign in their choice of any future drilling locations within the next 2 years, which is very good news indeed (as copied and pasted below):

Summary

Licensing arrangements for Guercif have been renegotiated such that all firm drilling commitments for the next two years will have been satisfied and further drilling will only be at the Company's discretion.

Apparently the SS Facebook page has been deleted

Eye Radio

South Sudan inks deal with U.S. based firm to acquire Petronas shares:

https://www.eyeradio.org/south-sudan-inks-deal-with-u-s-firm-to-acquire-petronas-shares/

:(

Office of the President - Republic of South Sudan, Facebook page.

https://www.facebook.com/100018542066050/posts/1369539927007396/?mibextid=rS40aB7S9Ucbxw6v

Maybe even Jurassic Park😆

That will be a number 21 bus to Hanley bus station from your location (if I remember correctly), followed by a National Express coach to Cape Town 🤫

Good to have you back here RR

and thanks for all your very informative posts...

You may have a good point there CYB, so I think it is worth mentioning the dates of the upcoming African Energy Week (AEW) 2023 conference, which is taking place from 16–20 October in Cape Town.

(My apologies if dates have already been posted).

There has been a lot of very informative posts of late and would like to add my Thanks to all for sharing.

With Thanks to Croasdalelfc from the other side:

Bloomberg

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South Sudan Walks Back Plan to Take Over Oil Fields by 2027

By Okech Francis

11 September 2023 at 12:37 BST

South Sudan needs more investment before it can take over oil fields from private operators and should renew contracts with the companies that expire in 2027, according to a national planning body.

State-owned Nile Petroleum Corp. “is still a small entity” and requires funding to reach the capability of companies such as China National Petroleum Corp. and Petroliam Nasional Bhd., from which it had planned to take over licenses as it expands operations, South Sudan’s National Economic Conference said in a summary of recommendations. Officials met for six days through...

Not a subscriber

hTTps://www.bloomberg.com/news/articles/2023-09-11/south-sudan-walks-back-plan-to-take-over-oil-fields-by-2027

Longshorttrade, copied from my notes, with some unknowns:

Blocks 3 & 7 PSC,

South Sudan Blocks 3 & 7 production sharing agreements are due to expire by 2027:

https://www.zawya.com/en/markets/commodities/south-sudan-offers-14-oil-blocks-to-increase-output-oyrmdjdv

Block 1, 2 & 4 PSC (expiry date ?).

Block 5A PSC (expiry date ?).

My thoughts are also with the Moroccan people, after that awful earthquake event.

Wishing a speedy rescue and sadly recovery of all affected people.

With Thanks to Keith and BRV, for their continuing contributions (again, in a good way I hasten to add) to this board , I/we will always be in your debt.

I think owe you a drink apiece (at the very least), BRV a pint of Yorkshire best (I have this uncanny feeling you are from Yorkshire?), now what will it be Keith seeing as you are a teetotaler, Builders tea🍵 or strong coffee ☕...

Thank you

Interesting article regarding Ireland's gas role in the energy transition:

Europa Oil and Gas CEO has written an op-ed for @eolasmagazine’s Future of Gas Report, in which he emphasises the pivotal role gas will play in the energy transition, as well as the potential of #EOG’s FEL 4/19 licence to help reduce Ireland’s dependence on costly, carbon-intensive gas imports.

https://twitter.com/Europaoilandgas/status/1697513940542992611?t=u0_Fq4wM87ry5hC-ZiRGYg&s=19

And to add to your post (no timescale though, but subject to long lead items and that includes a new well head I would have thought that are on order):

"Subject to rigless testing results, an initial Compressed Natural Gas development can potentially be funded by a debt instrument linked to production thereby freeing up existing cash resources for more high impact drilling."