Member Info for euclid55

Yes correct, so they will have to pay out $7.5m circa.................so expect more funding required

PRD will buy FRAM & have to pay out $4.25m plus also buying CRH - total approx $7.5m According to page 43 of the admission doc they may buy FRAM ( FRAM Exploration (Trinidad) Ltd (which would cost them up to $4.25m in cash to the parent company. This tells me they may need to raise further sums? "Subject to agreeing and executing a share purchase agreement to acquire the entire issued share capital of FRAM, the Company would pay Steeldrum, FRAM�s immediate parent company, cash consideration of US$ 4.25 million. This sum is an indicative amount only, and is subject to a working capital adjustment to be made prior to fixing the final cash consideration for the Potential FRAM Acquisition. The Company is aware from its due diligence enquiries that FRAM has outstanding well obligations, the cost of which will be factored into the working capital adjustment to be made prior to fixing the final cash consideration for the Potential FRAM Acquisition, and may potentially reduce any such consideration from the indicative figure of US$ 4.25 million" https://www.predatoroilandgas.com/sites/www.predatoroilandgas.ventures/files/Prospectus.pdf

Boom, think the 47mmbls is prospective resources only so not 2C / 2P "Material asset identified by i3 which it will bid for in the UK's 30th Offshore Licensing Round, independently assessed by third party with Mid case recoverable Contingent Resources (2C Development Unclarified) of 22 MMBO and potential best estimate recoverable Prospective Resources of 47 MMBO" https://www.investegate.co.uk/i3-energy-plc--i3e-/rns/corporate-and-operational-update/201711031154115340V/

Boom, think the 47mmbls is prospective resources only so not 2C / 2P "Material asset identified by i3 which it will bid for in the UK's 30th Offshore Licensing Round, independently assessed by third party with Mid case recoverable Contingent Resources (2C Development Unclarified) of 22 MMBO and potential best estimate recoverable Prospective Resources of 47 MMBO" https://www.investegate.co.uk/i3-energy-plc--i3e-/rns/corporate-and-operational-update/201711031154115340V/

11mmbls = $328m 22mmbls for 2nd license round if won = $656m Total =$984m / �728m x 67% wi = �488m / 37m shs = �13.18p Pre tax NPV (assuming farm out 33% to cover funding of approx $200m )

From the last RNS: Note: reappraisal of existing fields - so potentially getting a / few marginal oil& Gas fields "The Upland Board believes that considerable potential exists in Sarawak for further discoveries and for the reappraisal of existing fields" Https://www.investegate.co.uk/upland-resources-ltd--upl-/rns/sarawak-memorandum-of-understanding/201804130922208513K/

KUALA LUMPUR (Reuters) - Malaysia�s Prime Minister Najib Razak announced on Monday that Saudi Arabia�s state oil company Saudi Aramco will invest $7 billion (5.6 billion pounds) into an oil refinery and petrochemical project in Malaysia�s southern state of Johor The Aramco funding will help move RAPID to fruition and the desire of Saudi and Malaysian leaders to maintain close links between the countries likely helped cement a deal, said Subramanya Bettadapura, an oil and gas analyst with consultants Frost & Sullivan based in Kuala Lumpur. �This investment confirmation would help bring the RAPID project to the commissioning stage,� said Subramanya. �It�s the goodwill of the Saudi king himself to invest and to maintain good ties with Malaysia, boost bilateral ties.� The RAPID project, located at Pengerang in Johor, is expected to begin operations in the first quarter of 2019. RAPID will contain a 300,000 barrel-per-day oil refinery and a petrochemical complex with a production capacity of 7.7 million metric tonnes. The complex will sit alongside an existing oil storage site at Pengerang. Besides the Petronas-Saudi Aramco deal to be signed on Tuesday, Malaysia and Saudi Arabia signed four other agreements dealing with bilateral trade, human resources, scientific and educational cooperation and a news-sharing agreement between the state news wires of both countries. Malaysia is the first stop in a rare month-long tour of Asia by the Saudis seeking to build ties and draw more investments to the oil-rich gulf nation. Https://uk.reuters.com/article/uk-petronas-aramco-idUKKBN1660Z7

See pages 19 - 21 & 32 for the below: Malaysia has 106 marginal fields, containing 580 million of barrels of oil  General definition is a field with less than 30 million barrels of oil or oil equivalent with a recovery factor of 20 to 30%  Special tax incentives given to these fields (tax, capital allowances, etc.)  Special procurement arrangement Opportunities � Attracting small operators (likes of Petrofac, ROC, Apache and Anadarko) � Marginal Fields � Alliances between local and MNC service companies � Developing local capabilities � Mature Fields � Cheap alternatives � slim platforms, MOPU Malaysia holds some of the most prolific hydrocarbon basins in the region  Cutting-edge technologies will be rolled out  Pro-business Malaysian government has a good road map in place and offer very attractive incentives  Formation of MPRC  Malaysia has a highly-skilled, professional, technical and multi-cultural workforce that are recognised all over the world Http://www.mida.gov.my/env3/uploads/events/InvestMalaysia2012/4-Oilngas_Halliburton.pdf

Malaysia's Sarawak Has More Oil & Gas Fields Not Monetized Yet Malaysia has more than 200 discovered oil and gas fields off the eastern state of Sarawak that have not been monetized, an official at state-owned firm Petroliam Nasional Bhd (PETRONAS) said Saturday at a company event, as reported by national news agency Bernama. "Additionally there are another 206 discovered fields which are yet to be monetized," he said. https://www.rigzone.com/news/oil_gas/a/141740/malaysias_sarawak_has_more_oil_gas_fields_not_monetized_yet/

Latino, It doesn't take 4 months to complete a placing Rns 21 Dec �..WG Partners is a specialist boutique that supports healthcare and life science companies

See pages 19 - 21 & 32 for the below: Malaysia has 106 marginal fields, containing 580 million of barrels of oil  General definition is a field with less than 30 million barrels of oil or oil equivalent with a recovery factor of 20 to 30%  Special tax incentives given to these fields (tax, capital allowances, etc.)  Special procurement arrangement Opportunities � Attracting small operators (likes of Petrofac, ROC, Apache and Anadarko) � Marginal Fields � Alliances between local and MNC service companies � Developing local capabilities � Mature Fields � Cheap alternatives � slim platforms, MOPU Malaysia holds some of the most prolific hydrocarbon basins in the region  Cutting-edge technologies will be rolled out  Pro-business Malaysian government has a good road map in place and offer very attractive incentives  Formation of MPRC  Malaysia has a highly-skilled, professional, technical and multi-cultural workforce that are recognised all over the world Http://www.mida.gov.my/env3/uploads/events/InvestMalaysia2012/4-Oilngas_Halliburton.pdf

Another good report for any technical people out there to read: Exploration history and petroleum systems of the onshore Baram Delta, northern Sarawak, Malaysia Page 25 The lowstand delta play, the lowstand turbidite play, the topset highstand delta shoreface play in the MiriAsam Paya Anticline area and the moundform stratigraphic play in the southern limb of the Badas Syncline are among the identified untested plays. The identified and assessed prospects and leads within the block suggests that the study area may contain a total undiscovered in-place resource of up to one billion barrel of oil equivalent (JX Nippon, 2015). In addition to above, the Miri Field presents a significant near field exploration opportunity with deeper untested fault compartments. The gas-condensate with some 120 m of hydrocarbon column discovered by Miri No. 604 deserves further appraisal. A development plan for Adong Kecil West is still outstanding. In case of future improving crude oil prices, more enticing exploration terms and additional 3D seismic data, we foresee a new revival of oil and gas exploration activities in the onshore Baram Delta area. Http://www.gsm.org.my/products/702001-101705-PDF.pdf

Does anyone know the time frame of this trial ? "The purpose of the programme is to trial the Company's technology with the full range of target users, allowing the Company to observe its performance in different operating environments and locations worldwide" https://www.investegate.co.uk/cronin-group-plc--cron-/rns/mous-signed-with-pioneers/201802060700029768D/

Wonder what their Contingency plans are if SNCP don't pay their 44% share of costs for drilling the TPL-103 well ? __ _____________________________________________________________________________ "With Anglo African yet to carry out a fundraising despite delays and moderations at TPL-103, some have speculated that it will soon need to raise cash to fund operations. Berwick said this is not necessarily the case because these matters have had little impact on costs. Indeed, it remains fully funded for its share of the well. Going forward, Berwick assured investors that they will not be sold short in any potential future fundraises: �As it stands, we are funded for our share of the well and for the work done at the other wells. We will ensure that all shareholders will have the opportunity to participate in anything we do going forward. We are not looking to upset any of our retail shareholders,� he said. What�s more, Berwick said the business already has contingency plans in place should there be a shortfall from SNCP in its contribution to TLP-103. He told us: �We have put in place various plans that we can activate when this position becomes clearer. As it stands in the current contract, SNCP is a paying partner of 44pc and we would expect them to pay their share of the well. We have scenarios in place to deal with any potential future changes or issues� http://www.valuethemarkets.com/index.php/2018/03/29/full-focus-drilling-tlp-103-vtm-talks-exclusively-anglo-africans-new-ceo-james-berwick-aaog/

From website at Cedex.com, 26,230,751 coins sold so far, out of 50m tokens https://cedex.com/?referrer=056a275db2&src=1&utm_source=google&utm_medium=Google%20adwords&utm_campaign=goog5&utm_term=CEDEX&gclid=EAIaIQobChMI9KqkwuGd2gIVzrvtCh1EUgtcEAAYASAAEgLKgfD_BwE

rest of his post below for any technical pi's here: From my perspective the oil is proven with six wells drilled into Barryroe, the issue was to identify compartment risk for the placing of the the right number of production wells to drain the field. These next wells and sidetracks will answer that question so I perceive a low risk to development. From a geological perspective the intra reservoir fault risk requires first the direct mapping of the reservoir which allows faults to be identified, this has now been done with the new seismic. The seven heads gas field above Barryroe was faulted with compartments. These faults are called flower faults which diminish with depth so there should be a lot less of them in the deeper Barryroe reservoir and now that the seismic sees the reservoir they can be mapped and production wells placed in the optimum location.

from Jimmy24 iii post, dated 30/03/2018 at 17:39pm A rough back of the envelope way to discount to present value is to take 50% of the undiscounted cash flow . The numbers would work out as follows using your assumptions. Oil price $70 per bbl, development and extraction costs $35 per bbl, pre tax profits $35 per bbl less corporation tax 25% = 26.25 dollars per bbl.at fox 1.40 = �18.75 per bbl. Discounted to net present value at 50% to �9.375 per bbl. So for Pvr with 40% of Barryroe less the 4% San Leon net profit interest is 36% is 118.8 million bbl net Less the reapayment of the Chinese loan of say 2 million bbl is 116 .8 million bbl at �9.375 per bbl is �1095million divided by 660 million fully diluted shares in issue is �1.65 per share. ___ ______________________________________________________________________ LOGP 10% wi = 34mmbls x �9.38 = �319m / 500m shs = NPV /share 64p Less Chinese loan, assuming PVR's 40% is 2mmbls x 25% for Logp's 10% wi = 500k mmbls

Yes £350m Npv value just for Logp 10% wi We are holding net 10% or 34mmbls, its in rns

Anyone calculated the Npv per share 34mmbls x £10 Igv £340m div 510m shs = 67p

Cedex release...raised $24m now...so $1m more abd pre sale completed to hitting $25m