Member Info for Footandmouth

Great stuff Rob 👍

KEITH 🚀🚀

Trinidad.

Current annualised net income of $1.2M. At the average E&P UK and US-listed company price:earnings ratio of 12, that should be a market capitalisation of $14.4M for Trinidad alone. At 5 to 10 x this as quoted, that would give a market cap of $72 - $144M.

Morocco

* Now TWO interested parties for CNG/LNG.

* MOU-3 testing "validated the NuTech interpretation of gas saturations and gas shows seen whilst drilling before mud weight was increased to shut off gas inflow into the well. It provided the data necessary to ensure that appraisal/development wells can be programmed to mitigate against formation damage to ensure maximum possible stabilised gas flow rates from the NuTech-interpreted gas reservoirs".

* Licence Amendment to November 2026 has been submitted, which should give time for an Exploitation Concession for the LNG/CNG plant.

* ITR for January "likely to uplift gas resources for the MOU-1 and MOU-3 structure. Validation of the NuTech interpretation of gas saturations is also likely to significantly increase potential for prospective gas resources beyond the limits of the MOU-1 and MOU-3 structure in the interval down to 950 metres."

* "The purpose of the fully-funded desktop work during this period is to ensure that the Company and its shareholders get the best possible mutually acceptable terms in commercial negotiations to monetise the discovered gas with the existing entities agreeing to join the Company in a potential FID and development programme."

All looks good to me, coincidentally just going out to slightly belatedly celebrate our anniversary, might order a more expensive dish than usual :-)

TT is barrelling ahead and looks like being much more profitable than many genuine shareholders might have hoped for. Could it, on its own, represent in the near future , a complete vindication for investing in PRD ?. Remarkably the answer looks to be yes. Vision meets execution. Would take a brave fellow to bet against them in Morocco 👍

GRH. .. .. .. Hassi R Mel ❓

Before discovery

It was undiscovered

Guercif❓

Surface scratched

YOURE - apologies any resident pedants. You know who yis are 😅

Https://apple.news/APF5J0Os5TEeh6tnHZ-UKNw

Thank you Keith. Our thoughts are with you and all our Aussie family and friends this morning.

GRH. .. .. .. FAO LancyGeo

My apologies

I just saw your post

There are at least five basic structures that we could adopt...with each then subject to various sub structures

So, much as I have pet theories, they might be best left to sit dormant

Pro tem😂

Hope you understand

ATB

ALRT will go up along with the balloon .

Cheered me up. Hogmanay not quite the same without him 😄

The arse has fallen out of the BB 😄. ALRT will be fine. Kettle doesn’t boil faster if you shout at it for goodness sakes .

Courtesy of GRH . https://x.com/shanaka86/status/1998892335506346044?s=46 .

😂

Up almost 11% in HL. Hopefully a meaty RNS and on we go. If discretion exists I’d post tomorrow morning. GLA 👍

GRH. .. .. . #PRD

ROB often posted 'here for Guercif'

You're welcome😇😇😇

Keith. .. .. .. More on NuTech analysis

Conventional logs often show suppressed gas readings due to "formation damage" (where drilling mud invades the formation and masks the true readings), while NuTech analysis is able to look beyond this damage and indicate the true scale of the gas presence. This is done by employing proprietary algorithms to synthetically generate more advanced information. This approach allows for a more detailed characterization of reservoir properties, leading to revised resource estimates.

If you have too much time on your hands, the following 111-page study may be of interest. It looks at 110 European boreholes and compares the results of historic conventional wireline logs with re-evaluation by NuTech analysis.

https://www.ebn.nl/wp-content/uploads/2022/10/MSc-Thesis-Manuel-Bussmann-Identifying-overlooked-exploration-opportunities-and-Brabant-Formation-prospectivity-2014.pdf [This loads rather slowly, and some of the English is a little dodgy]

"Hydrocarbons can still be present, even if they are not, or poorly, recorded during drilling. Reasons for this may be drilling with heavy mud weights or mud cake formation in the borehole"

"NuTech modelling results are generally best in sand-prone formations, where abundant input logs are available and predominantly gas shows are found."

"Overall Insights from the Study: NuTech excels in sand/shale-gas prone formations NuTech's enhanced resolution (10–15 cm scale) uncovered stacked net pay in grabens missed by low-resolution vintage logs". [which would typically be 1m scale].

Guercif has:

* been drilled with heavy mud weights.

* mud cake formation in the boreholes

* sand/shale formations

* gas-prone rather than oil-prone intervals

* abundant conventional wireline log data available for re-analysis.

* drill cuttings & Rockwash analysis showing huge thicknesses of thin interleaved reservoir sands that are unlikely to be properly represented on conventional logs.

When these factors are taken into account, it would seem that Guercif has an excellent chance of NuTech demonstrating the full reservoir potential. This is particularly the case since the quoted study is ten years old - since then the NuTech process has been further refined, and the borehole database on which it is based has increased by an order of magnitude.

KEITH. .. .. .. "An upside way beyond our initial expectations"6 Dec 2025 06:55

The October presentation ran for 2½ hours, so I'm sure it was difficult to take everything in. I thought one section was of particular importance. Paul states that the now-proven formation damage has suppressed gas readings on the conventional logs. This resulted in only (!) 441 BCF of 2C resource net to Predator for MOU-1 to -4. The NuTech analysis is able to look beyond the formation damage and demonstrate the true scale of the opportunity. I have edited it slightly to improve clarity, and given the relevant timings:

48m26s - "In MOU-3, we can prove that a few psi, 20 or 25 psi, is enough to shut off the gas inflow into the well..."

49m37s - "[because of formation damage] so when these [conventional] logs were run... were interpreted time and time again,...everything that was in there was under-representing what was there...along came the NuTech logs...

50m12s - "our knowledge of the formation damage and how it's transformed our understanding of what MOU-3 and MOU-1 recovered. So we now have two separate fan systems that can be targeted in MOU-3 which we believe all are gas-bearing. We have not seen any water on the logs in these intervals and the attractive thing for us is - yes there's the proven gas , 2C gas - but there is now an upside way beyond our what initial expectations were, that we will address in the divestment process. We will update all that as part of that divestment process with an updated technical ITR/CPR designed for the incoming suitor. We will effectively put together everything we have achieved in the last five years." 51m10s.

Thanks to BDT for info.

Remember ........

Predator is targeting production growth from 280 bopd to 1,000 bopd over next 12 months

"Snowcap-3” is planned in the near-term intending to prove up the P90

resources case with an NPV @10% discount of £67 Million or 12 pence per share based on £159

million undiscounted post-tax profits for the Base Case of approximately 8.33MMbbl

recoverable using a 15 year production profile peaking at 3,500bopd which equates to c. 58.2%

of available 2C + P50 (Unrisked) Prospective Resources.

That's a very healthy return and the target is very achievable. It's also just a starting figure.

PRD is also targeting re-entry of several wells in Cory Moruga to provide IP and cashflow. The report goes on to say:

Based on the values

presented in Table 2, average flow where a single Herrera reservoir sand flowed on test is 264 bopd per

flowing unit. Peak sustained flows of 432 bopd have been measured from single sands in Rochard-1

yielding a combined flow of 1,321 bopd from the five intervals that flowed on test in the three wells

located in the main Snowcap structure.

what is interpreted to be H#2 sands, however elevated resistivity in H#1 sands indicates there may be

The aims of the initial development work programme being progressed by PRD are as follows:

SC-1

• Workover H#8 Sand only

• 200 bopd Initial Production (IP) declining to 130 bopd after 12 months

• Wax treatment and gas management critical to reduce decline rate

SC-2ST1

• Workover H#6, H#7 and H#8 Sand – subject to borehole condition

• 200 bopd IP declining to 130 bopd after 12 months (upside 300 to 400 bopd IP)

• Wax treatment and gas management critical to reduce decline rate

SC-3 (Proposed)

• Target H#1 - H#3 and H#6 - H#8 stacked sands in single well “Snowcap-3”

• Co-mingle Herrera H#1, H#2 and H#3 Sands for 1,000 bopd IP declining by 35% over 12 months

• Once H#1, H#2 and H#3 Sands are at equal pressure add H#6, H#7 and H#8 sands to production

for an additional 400 bopd Initial Production (IP) declining by an estimated 35% over the first 12 months.

There is a lot of oil still to be delivered in Trinidad.

With our expertise we will expect to see a vast improvement in our oil production and revenue.

We have set up risk free deals with the drilling operator and will utilise the tax breaks.

Courtesy of MRob. .. .. A post card from Trinidad.

· Predator are expanding their portfolio to produce assets in Trinidad in order to achieve economies of scale ;

· First oil revenues realised in Trinidad: £66,815 (2024: £0)

· A Production and Field Services Management Agreement was executed with NABI Construction (Trinidad and Tobago) Limited ("NABI") whereby the Company was relieved of the burden of funding field operating costs, workover and drilling costs in lieu of receiving 30% of gross sales revenues less tax and royalty and 20% of gross sales revenues less tax and royalty for infill drilling after recovery of NABI's drilling costs.

· NABI performed 6 light well workovers to restore the Bonasse Field to initial start-up production.

· Planning for up to 2 heavy workovers and one infill development well is progressing for execution later in 2025

Preparations for drilling Snowcap-1 Q1/Q2 2026 are progressing and a rig has been identified and inspected for reactivation

· 2C/2P of 1.4/12.91M barrels of oil resources for the Snowcap structure remain unchanged from the last Independent Technical Report dated January 2024

· Appraising and developing the Snowcap-1 discovery remains the core asset for the Company in Trinidad with the potential to deliver at initial production rates requiring a sales point with no capacity constraints and a sensible commercial handling fee.

The acquisitions announced in the period under review increases the Company's footprint and visibility in Trinidad, which in turn creates more options for establishing a sales point for the Cory Moruga oil

Predator’s Steeldrum Petroleum’s Trinidad operations running ahead of schedule. Bonasse field production up 170% as of Nov 4 as 2 additional wells restored to production following successful workovers. Infill drilling in Bonasse commencing next week on receipt of final approvals.

Looking at a 1000bopd production in one year!

We also have great tax breaks.

The beaches are also beautiful and I recommend the local rum!

Thank you Keith 👍 Do you have a view on the changes in ONHYM ?. Natural evolution or a strategic shift given the accumulation of Data and certainty of large scale exploitable resources ?