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I’d like to think that they’ll wait until testing results, signing mou before contemplating a raise. Share price will jump on discovery confirmation and it would be pretty stupid to raise just before that and suppress the share price needlessly. We don’t want more dilution than necessary.
Looks like, I also like 7.16: Ireland has no operating gas storage facilities. The South-West Kinsale reservoir, a
satellite of the Kinsale gas field, has previously been used for seasonal storage and is the
most likely candidate for offshore gas storage. Its daily delivery rate was relatively low at
29 GWh/day. PSE historically operated the storage at South-West Kinsale with a working
gas: cushion gas ratio of around 0:2. It is possible that this ratio could be increased,
however injected gas above a certain critical volume may risk escape to the main Kinsale
Head reservoir. Reservoir and infrastructure modelling work would be required to
demonstrate feasibility.
7.20 The Kinsale fields have also been identified in some consultation responses as potential
enablers for the development of Ireland’s hydrogen market. - I assume this would be PRD with PG's Green Hydrogen hat on?
7.21 The pipelines offshore for the Kinsale gas fields have now been decommissioned which
included displacing with seawater, although the onshore pipeline connecting the shore to
the gas network has not been decommissioned yet. - Less positive, but depends on actions to be re-comissioned.
Well done Edark. Can't you find the results for the other drills in there too? Maybe next weeks lottery results? Quite how a 2020 presentation would have porosity details for a drill that was done in 2021 I do not know.
Goodbye then. I assume this is you leaving us for good finally? I’m still slightly confused and disappointed by what was said but even a 30p return per share is a good return. Hopefully they will see the confusion caused and set the record straight.
Note it doesn’t say we are full funded, and it doesn’t say we’re not. Says:
Forward Plan – timing and costs being worked on
? Rigless test MOU-1
? Deepen and test MOU-2
? Drill MOU-A location to potentially prove up additional gas
Hopefully PG will answer the questions Keith posed about funding and we’ll get some indication. Might be rigless test MOU1, announce discovery, get $1m, get a loan do no further dilution.
So if this is the rig site why does the historical imagery only show a change to the site since 21 Nov. On 24 Oct we were told that the access roads had been upgraded and well pad construction was complete. So if this link is the well pad with a drill, why were we previously given false information?
Taking rubbish. It never got to 18p on 6 July. I know because I was watching closely to see the reaction and it had a slow start, then dropped quickly. Looking at the history shows:
- Open 14.1p
- High 14.875p
- Low 8.24p
- Close 8.24p
Not sure why you have to make things up, would be a lot nicer if people were just honest.
No chance. 15.7million shares gone to Novum and we always get stagnation after it, as they get flipped for 10-20%. Same going to happen here, but on the bright side it brings but opportunities for those of us who are after a bit more of a return.
Mixed emotions reading that RNS. On the one hand great progress, but the excitement of PG and Lonny buying in dealt a blow when realised that they're only exercising because Novum gave them the money for them. Frustrating, but looks like great upside and a quick switch onto MOU3. Seems as though next 12months is going to be outstanding. Only frustration is that we always seem to do placings as we the share price moves up.
Not bad wording. Read whole paragraph. It’s talking about concurrent activity in a pre-move for the drill whilst they build the roads and well pad. My reading is that they moved the drill to the holding site whilst they do the works which are now complete. Now they can do the final move of the drill to MOU2. All looks good.
They did in the presentation.
Well pad construction in sep - completed although might be slightly late.
Drill mobilised 2nd half of oct - drill has been mobilised.
Drill mid oct to mid Nov - ongoing and can still be completed on schedule.
Basically all is fine and as per the presentation in sep. no need to talk specific dates as we know it’s going to happen with spud within a few weeks.
For those complaining about delays we need to look at what the presentation said.
Rig mobilised 2nd half of Oct
Drill 2nd half of oct and first half of Nov
Just because they haven’t announced well pad construction starting doesn’t mean it hasn’t started. They could release an rns tomorrow and say the drill has been mobilised and we’d still be on track.
If we’re fully funded then we don’t really need to worry about short term share price as successful drill will see us rocket.
Let’s be a little bit patient and see what happens. I’m hoping they start drilling soon, but at the moment they haven’t announced a delay and timelines haven’t been missed.
Thanks for this breakdown. I was sure well pad construction was announced last time. Hopefully we're very much in the gap between well pad construction to start immediately, and drill mobilised. Maybe this time they haven't announced well pad construction as they said it was about to start, and the next news may be rig mobilised. Presentation said mobilised from mid Oct, so with the slight permit delay we might get that soon if they announce it this time. Might mean we're getting some news next week.
Actually lots of news due.
- Well pad construction
- Drill mobilisation
- Drilling mou2
- Testing mou1 and 2
- Results
Some within a couple of weeks, all within the next 3 months.
Plus you have Ireland and T&T, something from them could come at any point.
I've tried looking for the satellite imagery of the MOU2 well site, but couldn't find it. If anyone has a link can they share? Interested to understand if the well pad construction has started as that's going to be our first indication of activity. According to the presentation they'll start building it in Sep ready for drilling in Oct. I believe last time it took a couple of weeks to build so a mid Oct drill should see us starting construction pretty soon?
The thing that annoys me is that once again they go with Novum, instead of allowing existing shareholders to take part.
I'm glad it's done now so they can focus on fully funded drill and test, just hope they get on with it. No more delays, get it done Sep/Oct results a month later and hopefully something else to celebrate for christmas.