Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hiya Andocles..
Just like playing with numbers, nothing exciting just my musings.Also better add its nothing to with well success/failure possibilities, sand porosity/permeability etc etc .
Oh and Gaz from Newport area...am living in Ferndale now :)
Gla
Taff
Bdt
91.8 :)
Copy /paste from Novum cpr 7th Mar 22...page 5
"Based on the re-mapping of the MOU-4 Fan, Predator has identified that the next step-out drilling location
will be the MOU-4 appraisal well"
Definitely "appraisal"
Gla
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Hiya Zeus, hope this copy /paste works
www.predatoroilandgas.com/cpr2022
Page 23
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Good evening everyone, hope everyone had a good Christmas. ( mine was crap, car breakdown with 8 hour recovery followed by lost wallet )
Welcome back Hulltiger.
Right, re spud etc..
Drill 101 is ready to drill, so expect it to do so very quickly.Exact dates are immaterial due to FACT that drill will take 10 to 15 days to tvd.....so start drilling on 31st say, you can't expect hard and fast news on 10th Jan, any delays, mess ups etc will obviously delay outcome...but no point in worrying about a few days here and there, we've been waiting a long, long time for this.(way too long) ..outcome not guaranteed but at least we will know....if you think its bad just waiting for spud news, what's it going to be like waiting for results Rns? Way too much infighting on this board recently, I may not totally agree with Charlotte's posts(some parts I do) but ridiculing someone for their share dropping remarkably is not nice, anyone remember when Prd dropped from 18p to 4p....I do and am sure a lot on here remember that gut churning feeling...
Anyhow, enough of bad point raising...tis nearly New Year, we will be drilling(imminently?) Got interest in our Irish assets(news before end of January?) also Dd to finish on our Tt asset by end of January, could be a hell of a month.
Back after results
Good luck all
Taff
Blackdogtaff
Oh and Happy and very prosperous New Year to ALL investors
Just reread the sale of cory moruga Rns again, and seen this which escaped my notice earlier..
"Predator intend to aggressively take the block forward to production, through a combination of new technical studies, CO2 enhanced oil recovery activities, and new well drilling."
Just wondering on timescales,as regards "aggressively take the block forward" as Morocco should be at forefront of Prd's mindset right now.
Have a good Christmas everyone, ( I refuse to use "holiday season")
Gla
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Blackdogtaff
https://www.touchstoneexploration.com/investors/presentations/
With thanks to Wackmeister on twitter.
https://www.yumpu.com/en/document/read/7178870/net-asset-value-nav-primera-energy-resources-limited/17
Pages 16/17
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Blackdogtaff
Hiya everyone, ....anyone got any idea when we relinquish 25% of licence? Looked through updates etc but can't seem to find the relevant item.Honestly thought it was this December... or has it been pushed back now..
Waiting to see what happens in Ceg tomorrow.
Gla
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Blackdogtaff
Hiya Jonmo/everyone, have read/re read numerous times today's Rns, few bits I agree with, some I don't.
I'm assuming that extras needed for mou1/2 testing are additional perforating charges etc..to target the extra layers now "found" after reassessment.
On to Jonmo...unless I've read it wrong (the rns) I can't see any mention of the drill actually being financed, only the equipment needed for it.
From Jonmo
"got a placing away at 8p to drill MOU3 "
Anyway, now heart rate has stabilised after today's headlong plunge, am now looking forward to mid December ....or later .
Gla
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Blackdogtaff
Just go reddit and "search" for Michaul Caine:)
2021-Apr-03 ???? [GRH] Michael Caine
Where is Michael Caine when you need him?...PART ONE
Afternoon all...
I said the other day that I would have a go at making the recent RNS a bit more ‘accessible’
Well....this is it...FWIW:
That RNS (18th March) is the FIRST time we have seen PRD give us more detailed information about what Guercif could really be worth to shareholders.
The RNS fills in many of the missing piece of the jigsaw for PRD/Morocco.
We knew how much gas the company is targeting and now we know the value to PRD of much smaller example volumes of gas.
NB: It is really important to stress that these are EXAMPLE volumes
If we put the two together, we get a giant sized clue ... And we can estimate the value of the type of large discoveries that PRD are actually expecting (remember Paul’s grin!).
The following is my own back of an envelope ‘try’ (timing?) at valuing Guercif using the PRD supplied data...
I hope it starts a conversation here ... as I am sure that others will be able to improve on this.
Here we go...
So, we start with the value to PRD of a smallish EXAMPLE gas volume
That would result in the extraction of 3.65 BCF per year over 10 years... again, that is an illustrative period
This value (nett of operating and capital costs ...Opex and Capex) is given as $19.7m per year and that is AFTER deducting ONHYM’s 25% share.
That is £14.17m per year (at FX: $1.39/£1).
You can express that as a figure of £3.88m for every ONE BCF (I am not making this stuff up)
That equates to 1.51 pence PER SHARE ...PER ONE BCF (with 257m shares in issue).
Now ...take the target figures we have been given as the estimates of ‘gross recoverable prospective resources’ in Guercif:
Low estimate ...279 BCF (RNS of 7th December 2020)
Best estimate ...819 BCF (RNS of 7th December 2020 and 20th January 2021)
High estimate ...1,823 BCF (RNS of 20th January 2021)
Now ...apply the 1.51 pence per share per BCF (which already has a deduction for ONHYM’s 25% share) and we get:
Low estimate discovery: £4.21 per share
Best estimate discovery: £12.37 per share
High estimate discovery: £27.52 per share
Decent figures ...but hang on
This is not the likely end valuation
Of course, downwards adjustments have to be made for:
* NPV (the time value of money...it takes several years to extract the gas)
* A super large find may mean some international exports where prices could be lower than Moroccan industrial gas prices. (the way things are going... post Biden... I am revising my gas price assumptions...upwards)
* The possibility that not all of the “recoverable resources” can be recovered during the licence period or extensions thereof.
* Tax in Morocco will have to be paid eventually.
* Cost of Reserves Based Lending ... (or a partnering/farm deal) to finance further wells.
* PRD will need to leave something worthwhile for the buyer.
But ... on the upside...
Wh
Good evening Jimmy, re timing of next drill, (within 6 months) can only go by page 12 of proactive presentation .
FORWARD PLAN
12
• MOU-2 well preparations and planning and complete permitting and site construction
• Drill MOU-2 and test MOU-1 and MOU-2
• Review results and finalise CNG pilot development plan
• Firm up pilot CNG development financing
• Drill second well within 6 months to target additional gas resources in the Jurassic and/or Tertiary
Gla
Taff
Blackdogtaff
Androclesb, just tap on any name on top left of chat message. Then screen will change to show all of his her messages...
Then tap on "profiles" screen will change again so you can input a screen name, normally you don't need all the letters,first 4/5 should suffice.
Gla
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Blackdogtaff
Just sent a test message to you sevendragons
Hiya Nick, just had a look...surely that's in area of where mou5 would/should be...? Weird track marks adjacent to highlighted area..to the west.re read the proactive presentation (page8) and area shown/indicated as mou2 is proposed cng plant site..perhaps labeled wrongly as mou2? Will find out soon enough.
Gla
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Bdt
Good afternoon everyone, getting bored waiting for 101 to start trundling so been having a gander at lse boards...if you want to see a really prolific poster, as in every few minutes....look at lse "CINE" ... poster goes by magmanus....I promise it won't take you long to find him/her....amazing!! Must spend all day on there!!
Oh and in response to jimmy23....haven't a clue about water/gas contact....but trying to figure out how Prd say that Rharb basin success rate continues into Guercif where their(sdx) traps are smaller than Guercif and not much drilling in Guercif to back this up...thoughts? One bonus for us on this drill, we don't "have to " upgrade hotel for the crew..
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Hiya Pt..had a quick squint, (soar sattelite)looks like a very old site....no tracks leading to it,also lots of vegetation....and what suspiciously looks like a well head ....so unless pg/lonny have run amok with planting, drilled and installed well head...I think it's not mou2. :( we'll find out soon enough....Nice try though, got a lot more patience than me to scour sat images.
Gla
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Bdt
Hiya Nicknorth, just had a look at the satellite link you posted earlier today, got to admit, for the life of me, I honestly can't see that being the pad for mou2...not arguing just can't see it as just cross referenced with page 9 of Sept 8 presentation...and going by that the mou fan images peter out within the distance from mou1 to satellite image...if that was the mou2 site, surely the figures for Mou2 (originally) would be null and void given the distance difference between the 2 sites, (mou2 as per presentation and mou2 site as maybe shown in sat image) just my musings after a long day, would be nice to get a confirmed site from lonny/pg though....anyways, things are moving along now, not at breakneck pace, but there is movement...guess its news heavy period from here on in..
Gla
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Before I forget, anyone running a book on see through speedos/sports bras...
Hiya Adon, just had a quick squint....looks like a 20 teu...shipping container...know it's no help but seeing as bb has tumbleweed running across it today, thought I would respond.
Gla
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