Yes I did attend the DD, the lakbhir high, excuse my spelling has a mid estimated volume of 400bcf which would take the Horst to over 1 TCF, SBK I'm sure has been revised upwards but can't remember the figures.
We all know SBK, TE2 were old drills looking for oil, but found gas, the company should of concentrated on these before heading towards the low cos high volume drilling campaign. If they weren't bothering with then why are we are in HOT talks?? Some companies must be interested in what we have.
You must be unaware of the change of pipeline ownership back to Morocco and the end of the gas contract with Algeria along with the need to be energy independent. Morocco also looking at a LNG terminal to satisfy the growing energy needs of a country that's wants to be the gateway to Africa.
As per the FSC the initial payment may be redistributed amongst share holders depending on company plans / how we are going to fund Sidi seismic and drilling campaign, production divis 2020 from tendrara.
A very rough guess on divis on production are around 2p per share per year for the horst only, depends on final deal / percentage etc also we have the surrounding high cos targets which we will explore hopefully first, still to be decided how we will benefit from any finds.
Fingers crossed the new exploration program will have a more cautious approach to add value. A poster a few days ago mentioned Neptune Energy as a possible suitor, be a good idea to review their website and portfolio.
Hindsight is great but after te7 we should of canned badile and used the money to explore high cos prospects nears the Horst, te2, sbk etc to add reserves whilst we went for te8 and then enter the long drawn out aero grad and seismic data accumulation.