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GRH . . . . How interesting might it be
If the founder of Scorpion Geoscience
Was also highly experienced in FTG
(Full Tensor Gradiometry)
๐
CUBE .. .. .. An updated ITR, incorporating the 2023 MOU-3 and MOU-4 well results is currently being preparedย by Scorpion Geoscience Ltd. for the Guercif block [MOU1 -4]. *The Company will use its best endeavours to publish the ITR before the Phase 1 testing commences. < 25th January*
#PRD ๐
GRH .. .. .. Years ago, ROB
โญStudied Guercif...in infinite detail
โญThen bought shares in #PRD...7 figures
โญThen posted on LSE to alert other folk...that became known as the 'Michael Caine' post
โญThen bought more
Trolls derided the extraordinary numbers therein
Funny old World๐
GRH .. .. .. BB Folk have ignored
the Touchstone related part
Of the Cory Moruga RNS
It might be instructive just to jot down
The VERY early cash flows ...
(cash out and cash in)
of the CM deal
And yes...
ROB has checked the relevant Balance Sheet
#PRD
GRH .. .. .. ROB bought several businesses
A central characteristic
was that they were all
immediately self financing
Or became so
In ferociously quick time
#PRD
CUBE . . . . The more sanguine out there will NOW realise what has changed is an MOU with Afriquia Gaz has BEEN signed, and #PRD have completed the acquisition of a hugely value-accretive 83.8% of Cory Morgua licence in Trinidad.
Morgua CPR and Guercif Testing incoming.
Tick Tock.
๐ข๐$ PRD at its discretion can advance the timing of implementation and execution of ANY or ALL of the elements of its proposed amended FDP if warranted and subject to MEEI consent and regulatory approvals. MEEI &PRD: shared common goal of developing and realising new oil production
GRH . . . . Indeed
Hell of a good deal
I suspect folk will be shocked by the Cory Moruga CPR
ROB reckons there is a lot of E there ๐
It's busting to get out
'cheap as chips'?
In my World ,
The phrase I have used re #PRD Is...
'priced as Call Options'
CUBE. . . . Hold on to your 2024 hats, folks.
Technical/CPR for Cory Moruga + workover.
Flowtesting Guercif Superbasin.
Drilling Jurassic superstructure.
The data thus far points to only one outcome here:
ENORMOUS VOLUMES OF HIGHLY CHARGED ENERGETIC HYDROCARBONS.
๐ข๐๐ Said data has been collated from Orbit, from Air, from Surface, from Subsurface...
Folk will realise when its too late.
"Successful companies are first discovered by smart retail, then by small institutions, then by large institutions, and then finally by dumb retail."
๐ข๐
GRH . . . Folk wishing to understand
The faulting, uplifting and depositional characteristics of
the Guercif super basin
Might wish to read
And truly STUDY
LSE posts by 'Seabright'
Yes...
The super basin is real๐ฅ Some time ago...
There were brief discussions
Regarding North Sea analogues
Specifically, regarding the Captain Sandstone Fairway
ROB respectfully suggests that
Those discussions might be usefully restarted
Yes...this is really off the scale
GRH. . . .
On very modest oil sales assumptions
Cory Moruga fast generates
Annual FREE CASH FLOW
More than current m. cap
NB: EV is LOWER than m. cap๐
Due to nett cash/NO debt๐ ROB suspects that :
Senior management is IN Morocco right now
Then...
After Guercif testing kick off
Will be straight out to TT
To get the oil moving
Yep...these guys really must wear NB 577s!
ROB's view FWIW:
Lid has been kept on RNSs for political reasons
Delays HAVE BEEN, similarly, out of #PRD control
This is one of the greatest discoveries of modern times
โก๏ธ By all means...Ignore ROB's ramblings โฌ
๏ธ
GRH . . . . . . Hydrocarbons migrate
They do so predominantly vertically...
Hence
1 ...E = POR x PERM x Charge
2...The STAGGERING RNS RE MOU3
issued a few months ago...
Yes, all horizons should be full๐๐ฏ
But given sufficient ENERGY, they also do so more laterally
To reach substantial distances, they need
CARRIER BEDS
which they fill ...
Then continue migration/fill/migration
#PRD has these
In abundance ๐ I strongly suspect that
The prime movers at #PRD
Will be hard at work...again...tomorrow
Oh yes...
ROB almost forgot ๐๐ฏ
Again of little consequence
Soon enough to drill a very large Jurassic structure
Of yet more multiple TCFs
Yes...'T' as in TRILLION
Some might even recall ROB posting endlessly...
'Here for Morocco'
Oh, how they laughed
GRH . . . . . . . ROB is greatly invested
In a tiny company
Debt free
Soon to be awarded
Exploitation Concession
For one of the greatest gas finds in 20 years
A company ALSO about to generate
VERY large free cash flow from oil sales
Without raising ANY new funds
That's it ๐๐ฏ. Oh yes...
One more thing...
Of no consequence whatever ๐๐ฏ
It will then achieve P1 status
DOUBLE P1 status
In two Continents
Good evening ๐
GRH . . . . Until now...
folk on LSE have not paid much attention
to the Balance Sheet
They WILL ...they REALLY will
They will want to consider what will happen
upon successful testing and GSA
YES...
1P Reserves status
TOTALLY TRANSFORMS Balance Sheets KEITH . . . Reserves can be capitalized not just for Morocco, but also from T & T. I think my PWC manual is still current, S 2.3.1., p.14 is relevant: pwc.com/id/en/energy-uโฆ
ROB . . . Folk might want to study the RNS of 30 Nov.
In particular, the 'substitution' plan
It looks very much as if the Moulouya Fan interval ALONE
could provide both sufficient gas for the CNG project
AND be proven over substantial areal extent With all that implies re 'Resources'
There are at least TWO sets of doors
About to overtake Mr Musk's satellites๐ฅ๐
GRH .. .. ..
The drill crew performed miracles๐ฏ
I single out controlling the unexpected
highly overpressure and very shallow
11 metres at MOU3
It was a very big deal. That overpressured gas
validated shallow trap integrity...
Boy, did it๐ฏ
Of course...
(Many folk have lost sight of this)
It thus identified a VERY clear pathway
Re migration of deep gas into
the next SIX targets to be evaluated by MOU3
That is big news
GRH . . . . . Folk on LSE wasting their time debating old stuff
As Rob correctly pointed out whilst drilling...
MOU 3 changed #PRD
MOU 4 changed Morocco
And yes...
MOU 5 will change Europe
๐๐๐
ROB . . . If ROB was still running defence strategies
(see profile)
Would NOT want any wet powder
Defence HAS to have DRY POWDER
Preferably a LOT of it ๐ ROB is here for MULTI ยฃ...not pennies
๐ Does NOT want #PRD to disclose TOO much
๐ ALL test results must be publicised
๐ REAL danger of unwanted bid
๐ BEFORE the BIG one
๐ฅ๐ฏ
ROB posted ages ago that
#PRD would develop first mover advantage ...FMA...
Re volume gas in Morocco
ROB was WRONG ๐ฏ
It is not FMA
It is now OMA...IMHO
As in ONLY Mover Advantage