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Nametrade …. Every 5 minutes? 2 fundamental points. 1.Why has Mou-2 location changed and 2. why the sudden CHANGE in strategy drilling for Oil (mou-3)

I have just a few shares in PRD so I only look in occasionally. But I’m a little confused. Where did the focus on Oil suddenly come about? Now designated as Mou-3 and the next drill after Mou-2. Oil was played down only a month or so ago and looking to eventually farmout in the future. IMO the bod should just focus on bringing Mou-2 home. Also the mou-2 location has moved, almost last minute it seems.
IMO PG is causing confusion which is a concern because PIs are wondering if a placing is on the way to fund Mou-3. An ideal placing timeline would be in the run up to Mou-2 drill. It’s probably the reason the SP hasn’t made ground today or it could be Lonny selling into a placing!! lol
PG needs another interview to clarify why any focus Mou-3 now and why had Mou-2 location changed.

So It seems Mou2 has changed location? But no reason stated for the move and how far away from the original Mou2 location?

The other point I should make is that when the RNS was released stating “successful completion of permitting and survey requirements” for Mou1, the spud was 4-5 weeks later.

I assume the delay is because of a problem with the Permit for Mou2. We don’t have any confirmation that it has been approved. I don’t have clue what the issue could be though. Any thoughts anyone?

Numpty is a stupid or ineffectual person.
"confused numpties who have little idea of what they're talking about"
That’s hilarious from the “you don’t want to be out over the weekend” man

Extra Polished Rose-tinted glasses.

Alcapone … I’ve said it before and I’ll say it again this is the safest O&G penny share to make money from this SP point. It’s just a painful long journey and waiting game and my SP expectations for the CH-1 drill is slightly lower than some others.
On the 18 Oct 2016 prior to NT-2 December spud the SP was 1.8p but we did get 3-4 RNSs prior to the spud detailing rig mobilisation.

It’s Tanzania they can do what they want. Like claim illegal taxation to Aminex over Kiliwani gas sales. They can suddenly decide to apply a sales tax to Aminex in the farmout process to ARA.

PoC … yes even worse deal for SCIR but TPDC may want to come back to the table. I’m just being the devils advocate. I’ve lost my rose tinted glasses unlike some, but I have found that it helps with my investments.

What happens if the Tanz Gov hasn’t approved the deal and ARA drill CH-1 and strike 200m column of gas PLUS another 50m of oil?
How would that initial $3m upfront deal look.

CPerkin … Exactly it’s a loan until approved by the Tanz government

Scirocco expects to complete the deal before end of year in a previous RNS. IMO that needs to be completed before the Spud as any drill results may void the deals T&Cs. I doubt ARA will Spud until the ink is dry on the paper and probably using this fact to get the Tanz gov moving on the approval.

Rojo … if that was the case, then it would seem that TPDC are better informed than AEX, as their boss stated recently to media that the spud would be early 2023. That would be a real concern with regards to comms.

Tanzania calm down. I doubt the 3D Seismics are giving reduced resources. What’s happening with the SP is that investors are expecting some news ie Spud date and confirmation of CH-1 location. It would be nice to hear who the rig contractor is and the status of the rig. As always lack of news and the SP stalls or starts to drift down.

2018 17th Oct
2019 10th Oct
2020 13th Oct
2021 21st Oct
2022 ?

Wasn’t the 18th the day of Reckoning?

Perhaps he can tell us progress (or not) on the mou2 wellsite.

SQ …TPDC do all that donkey work which they have already started. Ie looking at land ownership , land negotiations, etc.
TPDC are looking for investors to build the pipeline, so ARA just have to pay for it.
IMO ARA will sit back a while and see if any other investors come forward. If not they will use it as a negotiating tool so they can sell gas directly.

If ARA build the pipeline they’ll get more money for the gas, so over the long term a better option. Like Wentworth.
It also may give then the option to sell direct rather than a price at the wellhead.