Member Info for Footandmouth

Very possible staffy. Thought the comments on legal dispute in TT were interesting. The TT authorities may well be forcing a resolution so as to clear the decks for their very ambitious plans which PRD are going to be very involved in. I can’t be the only contented shareholder surely :))

PG and Lonny would be fully aware of expectation and likely reaction to a necessary house keeping RNS. This may well not be cubes anticipated announcement. Plenty they will be unable to say and loads of real work demanding attention. TT was a very pleasant surprise. More concerned if two or more of our projects click at the same time. Chances of that have definitely increased imo. Will add today or tomorrow.

A busy year as usual for PRD as Morocco continues to offer exciting prospects in one of the world’s highest demand areas for natural gas and most attractive fiscal policy. In Ireland what might eventually be a huge project is moving way faster than people may have expected and of course the company are still in C02 sequestration in Trinidad with previously announced legals under way

Long lead for us but perhaps not for our prospective partner ?

Great find Wacky. Many thanks

From I think the best poster on CHAR BB. “We know for certain there is an audited 361 bcf of proven gas in the A and B sands worth $900 million net to chariot , that’s the starting point , and then we have extra gas proven gas from anchois 2 well.
We are trading at a fraction of the audited proven gas volumes which chariot reported at $900 so if logic prevails the only way is up.
Jimmy “. Even with a recent pullback CHAR has over 7 times our MC. Our projected development costs are a fraction of theirs which if we can do it ,goes straight to our bottom line. Risk/Reward as ever an absolute personal responsibility. GLA.

UAE energy. ???

First meeting of the Negev Forum steering committee met today in Bahrain, convening top officials from the foreign ministries OF Bahrain, Israel, the UAE, Egypt, Morocco and the US. (Photo credit: Israeli Foreign Ministry)

Rabat - Butane gas distributors in Morocco have decided to postpone their strike, saying that the decision is part of an ongoing dialogue with the government to find solutions to their demands.
The Association of Wholesalers of Liquefied Petroleum Gas issued a new press release on Saturday, emphasizing that dialogue with authorities is underway to find “effective solutions” that could save the sector from the crisis.
The association’s statement, however, does not rule out a new date for its postponed strike.
Earlier this month, the association announced a two-day strike scheduled for June 29-30 to protest hiked prices of gas and the authorities’ inaction to meet their demands.
The issues could lead to bankruptcy of wholesale gas distributors amid the absence of resolutions to the challenges facing the industry.
One of the most critical challenges the distributors condemned recently is “the enormous increases experienced by energy materials in Morocco recently, particularly diesel,” the association noted in its previous communique.
The association further argued that it is “impossible” for the distributors to continue the distribution activity amid the current circumstances.
The distributors also complained about the government’s inaction amid the current energy crisis, warning that their potential strike could be extended to more than just two days.
Like many countries, Morocco is facing an energy crisis resulting from both COVID-19 impacts and the Ukrainian-Russia conflict.
The government has been vowing to do “what it can” to resolve the challenges, including the increases in food commodities and energy prices.
Fuel prices experienced alarming increases, ranging between MAD 18 and 16, weighing down the purchasing power of citizens with low and average income.
The government recently announced that it will sign its first purchase contract for liquefied natural gas to meet energy demands, particularly electricity consumption needs.
Morocco’s electricity supply requires half a million cubic meters of natural gas per year. Meanwhile, the country’s overall storage capacity for petroleum products is 1.8 million tons, covering 57 days of national consumption, according to the most recent statistics from the government.

Trifle - Any particular reason for that date that occurs to you ? Busy period - potentially :)).

Pinched from CHAR BB — -
https://www.reuters.com/world/europe/italys-draghi-backs-large-investments-gas-infrastructure-developing-countries-2022-06-26/

Courtesy of M—- —“ Pioneer CEO: Oil will likely stay above $100/bbl for 5+ years

Sheffield says inventories will be the key to the next cycle of merger activity in the industry.. “ Great for small oilers but doubly true for GAS. !

60p plus by end of August:))

LOL :)). I have to say Keith he’s a remarkably healthy looking patient !!

Bob if you run out of vegetables there’s more on here :))

One trade for 100k recently noted as a sell which it most certainly was not. No doubt a good reason for this which perhaps others can explain :))

I think there have been many criticisms from knowledgeable posters regarding that company’s previous approach notably from your good self ,which I have no doubt are well placed . In many ways a cautionary tale . For me the read across is regarding options for our own funding in Morocco. A relatively modest amount required and several options available. I think the bank in question has strong links with the Moroccan Royal Family ?

SOU Professional News
Sound Energy progresses financing in Morocco for Tendrara concession

Thu, 23rd Jun 2022 08:50
(Alliance News) - Sound Energy PLC on Thursday said it has made strides towards financing its production concession in eastern Morocco.

The Morocco-focused upstream gas company has entered into an arrangement and mandate letter with Attijariwafa bank of Morocco for debt financing of the company's Tendrara production concession.

Shares in Sound Energy were up 8.0% to 1.75 pence each in London on Thursday morning.

The bank will also be offered eight months of exclusivity to provide the firm with a long-term senior debt facility, with a term of no more than 12 years for up to MAD2.25 billion, around USD250 million. This would partly finance the estimated MAD3.00 billion cost of the Tendrara production concession.

For the remaining amount, the company said it is advancing potential vendor financing, secondary subordinated debt and partial asset disposal options.

"This mandate is a significant step towards reaching final investment decision unlocking further the value of Tendrara Concession to Sound Energy shareholders, that can aid the provision of economical and secure gas supply for the local Moroccan power production and domestic markets," said Executive Chair Graham Lyon.

From an excellent poster on CHAR - - Gas pricesWed 17:39
The forward price of gas for winter 24, when chariot expect first production is $18.5 mcf, for gas exported to Europe.
Jimmy

Kas that would be end of July at latest which would make arithmetical sense !! Fascinating to see what develops .