Member Info for affc21

Very logically deduced post regarding MOU-4, Wacky.

From your post:

"I have always thought that it is being kept to one side for appraisal of the Titanosaurus Field using Offset TAF-1X Well in conjunction with MOU4."

That probably makes a lot of sense to me (coming from a non expert here), the only proviso would be the condition of the 44 year old TAF-1X well (which was drilled in 1979) ?

Caterham7, having read your previous very informed postings (Thank you for sharing) on this forum, which has been of assistance in my decision to invest in PRD.

May I also wish you a full recovery from your accident and a healthy future.

All the best

It is not a placing...

Read the RNS

Just to emphasize it is a loan to Via Novum, and not a sale of shares to the market.

That is fantastic news for shareholders, but perhaps not if anyone was expecting to buy in on a fund raise.

🙂

That was a forgone conclusion with VRS , totally different company here.

With no news (so far), looking more likely of positive outcome here, will find out next week it would now seem...

Anyone else got any finger nails remaining 🙂

Mud extent, see page 10 of 14

https://wp-predatoroilandgas-2020.s3.eu-west-2.amazonaws.com/media/2023/01/Drilling-Update-MOU-2-01-February-2023-final-29012023.2317pm.pdf

Bought in here over the last 2 days,

 

Reasons:

Low market cap (£3.5m), especially in relation to cash on the books (GBP2,300,000) from the very recent fund raise (dated 16.05.23).

Whereby Jeremy Asher, Chairman and CEO, has entered into a subscription agreement to subscribe for 100,000,000 new Placing Shares in the Placing for GBP 50,000 (his own money).

Funding was raised at 0.05p per share and share price now sits a little over 0.04p (almost at a 20% discount).

Directors haven't taken a salary, instead relying on share warrants (exercisable at much higher share prices), showing their commitment in the company (not a lifestyle company).

And then we have the upcoming drill NJOM-3 (classed as an infill drill) on the Cameroon license, which should lead to production at some point (Q4 2024 as per company video interviews, but may lead into 2025?).

Issues to overcome short term, Bank finance/partnership, drilling rig... Which are not insurmountable (and when sorted should speed up the license extension in due course) and could land anytime, patience may also be required...

ATB

💰

💰💰

💰💰💰

Don't you just love emojis 🤫

He got the directors first name wrong, goes to show how well informed he is (not)... filtered

Gross 4mm cfg/day generates PRD net US$7.8 million pa after tax.

(SLR consulting CPR Jan 2022).

Gross 34mm cfg/day generates PRD net US$66.1 million pa after tax.

Page 16

Corporate Presentation May 2023

https://wp-predatoroilandgas-2020.s3.eu-west-2.amazonaws.com/media/2023/05/Proactive-Presentation-18-May-2023-FINAL.pdf

............

So at

Gross 20mm cfg/day generates PRD net US$39 (£30.5m) million pa after tax.

(Exchange rate 1US dollar to 0.78 GBP)

Market cap at 8.5p per share = £36.25m

(issued share capital consists of 426,403,418 Ordinary Shares).

More twists and turns:

Cameroon freezes purchase agreement between national oil company and Savannah Energy PLC - government statement

Tue, 13th Jun 2023 21:26

Thomson Reuters

DAKAR, June 13 (Reuters) - Cameroon's government has frozen a purchase agreement between its national oil company and Savannah Energy PLC, it said in a statement on Tuesday.

Savannah signed a shared purchase agreement with Cameroon's national oil company, SNH, on April 19.

The statement did not provide a reason for the government's decision to freeze the sale.

https://www.lse.co.uk/news/cameroon-freezes-purchase-agreement-between-national-oil-company-and-savannah-energy-plc-government-statement-zewcvjiwx5i8c84.html

Chad recalled its ambassador to neighbouring Cameroon days after the agreement, the latest escalation of a dispute over the sale by Exxon Mobil of its oil assets in both countries to Savannah Energy. (Reporting by Joel Honore Kouame; Writing by Sofia Christensen; Editing by Jonathan Oatis)

Thanks for the correction, just going through the calculation again and realised I am mixing up my Billions with Trillions, although big difference in reality...

The correct figure should be 11.5BCF

As per your post

Hi KeithOz,

Just gone through your maths and I think you were correct first time:

"326.7M x 35.3 = 11.5 TCF (for same thickness across the whole reservoir)"

The you followed up with:

"Right, I'm out by a factor of 10 - it's 1.15TCF (ONLY!!!) - too many digits for my calculator!"

All the best

The only thing I can think of is a containment area in case of oil spillage?

Quite possibly wrong though...

Nice news to wake upto this morning :)

BCF billion cubic feet

Just to mention that MOU-A drill location as per the presentation (Dicko80 post) has since been renamed MOU-3

(Joking by the way, I don't believe for one minute that you are snowed in:)