Member Info for Cephalo

My winnings will be converted into 2.8 tickets this Tuesday coming.

Ireland is all that interests me, when they cash in on Morocco they are best off out of it anyway. Taking on board Ross’s description of doing business there.

Call options. At the current share price, who needs them? Obviously you have the chance to buy in lower at the moment and they won’t expire. I won on the euromillions last night. It’s a sign.

Delineation in order to sell or farm out individual lots? It still appears to require a lot of work to delineate further, and meanwhile it would be good to monetise the assets Mou3 at least. That’s if delineation is what they have been doing, and how would you know that? Can’t think of evidence for or against beyond that.

Hi donalb, I hope you’re doing well. I have no doubt he is a credible person, I checked the other day because I am aware of him from the old gkp bulletin ii board. I am just pointing out that he can mislead by talking in riddles, and people hang on his every word, perhaps without reading his sources of information. That influences peoples’ trades. It’s a bit of a double edged sword, hence my last comment. As you rightly notice, very recently in here so it’s the old acronym, wtfdik. Logp holder in most of the time since 2010! Anyway I take your point and it’s clear there are some very helpful people here, thanks for pointing them out.

GRH,

Re. "'Someone' said that Guercif will yield abundant Gas/condensate/light oil"

Someone was you? Okay. Let's hope your crystal ball was working, and does the crystal ball still show this? If so I will top up on the strength of it ;-)

The other problem with AI is that it will trawl through bulletin boards and rehash chat. It's only as good as the information out there, it's a recipe for self destruct as it also compiles garbage. The more garbage written, the worse it will get.

@Keith, thanks for that background

Well, actually no I don't find it interesting. What's the point of being so cryptic? If this conversation took place over 4 years ago, what's the context? Why mention it now, and what's the source? Adnan Samarrai is dead. These GRH posts are just designed to generate trades and quite frankly it's misleading for everyone who hangs on his words. GRH has never been able to foresee anything.

Adnan Samarrai (deceased 2021) - GRH talking about something to do with GKP, not PRD by the sounds of it

@JH, it's only 12 days old and anyway, I can't remember seeing anyone pick up on this topic until today, unless it was drowned in the sea of garbage posted on this bb.

I might be wrong then, if instead of Kinsale plans are now to link this with Corrib

https://www.linkedin.com/pulse/ireland-approves-fsru-based-strategic-gas-emergency-reserve-wilk-ddqde/

Https://www.linkedin.com/pulse/ireland-approves-fsru-based-strategic-gas-emergency-reserve-wilk-ddqde/

If the Mag Mell project has been given the go ahead, the LNG project would specifically re-purpose existing infrastructure at Kinsale. Delaying the decommissioning of the Kinsale Head existing pipeline, which is only a couple of miles from Barryroe. Dots connecting here I wonder?

https://wp-predatoroilandgas-2024.s3.eu-west-2.amazonaws.com/media/2024/09/Mag-Mell-white-paper-on-reuse-of-Kinsale-infrastructure-for-LNG-23.05.22.pdf

Source

https://wp-predatoroilandgas-2024.s3.eu-west-2.amazonaws.com/media/2024/09/Mag-Mell-white-paper-on-reuse-of-Kinsale-infrastructure-for-LNG-23.05.22.pdf

That's VERY interesting.

"Given the tremendous pressures countries throughout Europe are facing to find alternative LNG sources, the

Mag Mell project offers Ireland a distinct competitive advantage. Irish policy makers and regulators have

already acknowledged the need to employ LNG in achieving our climate action targets and strengthening

security of supply. In a smart and efficient manner, the Mag Mell project takes advantage of infrastructure

already in place, providing Ireland it’s very own ready-made LNG solution.

However, there is one wrinkle. The Kinsale Head Gas Field Pipeline is currently scheduled for decommissioning.

Very shortly, Ireland could lose this significant advantage should this go ahead. We will then be on the back

foot seeking solutions which ultimately will be more complex, take longer to develop and will cost considerably

more than what Mag Mell is proposing....

...Mag Mell Energy Ireland Ltd is seeking to create an ambitious floating LNG storage and regasification project in the Celtic Sea close to the now depleted Kinsale Head Gas Field off the south coast of Ireland.

The project is also designed to be capable of including, if required, strategic gas storage capacity for regasification of LNG by making use of an existing offshore gas reservoir at Ram Head 40 kilometres to the east of the proposed Mag Mell project."

And from Wiki (AI) ""Ram Head" refers to a prospect within the larger Barryroe oil and gas field, which is located offshore Ireland in the Celtic Sea. The Ram Head prospect was originally identified and drilled by Marathon in 1984, discovering dry gas. It's located about 40km east of the Kinsale gas field and the associated pipeline, according to KeyfactsEnergy. The Barryroe field itself is an undeveloped oil and gas field, with Providence Resources (through its subsidiary Exola) currently holding 80% ownership and Lansdowne Oil and Gas (via Lansdowne Celtic Sea) holding 20%.

@Keith, at that point of the video he makes reference to the discovery of an unexpected salt layer. i don't know if I would describe that as a glaring omission. The subtle difference he refers to seems to reference the fact that 2D seismic is prone to misinterpret depths when calibrated to detect specific things such as oil or gas.

@findme- re Liner hanger - did you note one near the MOU5 well head?

"They create a seal between the liner and the previous casing string, preventing fluid or pressure transfer between the two"

Sounds interesting

I seem to remember this GRH from the ii bulletin board when everyone hung on his every word regarding GKP, as if he was one step ahead. People traded based on his statements. Is it the same one? Same cryptic one sentence one paragraph format I see. Ultimately, none of his predictions were revelations, nor were they insider knowledge, though they were written to make you question that.

Satellite imagery clearly indicates large accumulations of hydrocarbons over an area, but ultimately seismic science and drilling are still required to get to the nitty gritty. It's always best to read and rely on RNSs and when there's something missing, it is omitted either because something isn't there, or it maybe there but needs further investigation or analysis.

I am in PRD (modestly compared to some here) recently, and it's not specifically for the assets in Morocco, it's for the whole portfolio. I actually wouldn't care if they sold off the assets in Morocco for a small fraction of their worth to fund the other projects, perhaps retaining an overall royalty for the unexplored parts of the license.

I watched the interview again with PG from a couple of weeks back. Apart from looking like he'd either not slept or had a bad hangover, he came across perfectly coherently. He specifically insinuated that this is not his baby, as some here would accuse him, and would willingly do a deal to offload the company or it's assets if the price was right.

Good luck all

LOGP's 20% share has a current projected value of around 100 million euros for it's contingent oil from Cretaceous reservoirs alone. A lot more if they dip into the high pressure upper Jurassic sands. They also have 9% interest in Helvick discovery, probably worth around £2million if they ever get round to producing from it.

Obviously Keith, it's anyone's guess but it's not an inconceivable to make an arrangement with all or part of PRD. But don't worry, it's just a thought.

From their website, appraisal well, 48/24 – 10z in 2011/2012

"This well found a Basal Wealden sandstone sequence, around 100 ft thick. A shallower gas-bearing sandstone (C Sandstone) is separated from a deeper oil-bearing sandstone (A Sand), by an intervening siltstone sequence.

The A Sandstone was tested and flowed at a rate of 3,514 barrels of oil per day and 2.93 million standard cubic feet per day of gas (combined giving a total rate of c. 4,000 barrels of oil equivalent per day). The oil is light, 43 degrees API, with a wax content of 17%.

Following the successful testing of the A Sandstone, the C Sandstone was also perforated, and a combined test was run over both zones.

This second test flowed at a restricted rate of 7 million standard cubic feet per day of gas, and 1,350 barrels of oil per day (2,516 barrels of oil equivalent per day).

The C Sandstone proved to be highly productive and modelling of the pressure data indicated that a co-mingled flow rate of 17 million standard cubic feet per day and 3,350 barrels of oil per day (6,183 barrels of oil equivalent per day), should be achievable from the 10z well at a flowing well head pressure of 500 pounds per sq. inch.

Following acquisition and interpretation of the 2011 3D seismic data, together with the subsequent drilling and testing of the 48/24-10z Barryroe appraisal well in 2012, Providence retained the services of Netherland Sewell & Associates Inc. (NSAI) to carry out a third party contingent resource audit (CPR) of the in-place hydrocarbon and recoverable resources for the Basal Wealden oil reservoir. NSAI reported that the Basal Wealden oil reservoir has 2C in-place gross on-block volume of 761 MMBO with recoverable resources of 266 MMBO and 187 BCF of associated gas, based on a 35% oil recovery factor. A third party (CPR) audit of the overlying Middle Wealden, which was carried out by RPS Energy (RPS) in 2011, reported a 2C in-place gross on-block volume of 287 MMBO with technically recoverable resources of 45 MMBO and 21 BCF of associated gas, based on a 16% oil recovery factor.

The total combined audited gross on block 2C recoverable resources at Barryroe therefore amount to 346 MMBOE, comprising 311 MMBO and 207 BCF. The following table summarises the range of total gross audited on-block Barryroe oil resources:

Politics in Ireland is leaning towards development of home grown resources, it makes perfect sense to join forces. If both entities ended up developing just the Irish assets, with finance from production or assets sales, then great. Barryroe can quickly become a producer through a phased development program. I imagine a valuation would also be determined by strategies concerning development or part sale of assets in Morocco and TT in the shorter term.