Member Info for Footandmouth

GRH. .. .. .. The overarching reason

Investors in E&P

LOSE MONEY...

They back outfits

Exploring in

THE WRONG PLACES

Sorry...it really is that brutal💯

GRH. .. .. The sector is brutal

As I posted in 2011

'Red in tooth and claw'

FALSE NEGATIVES

Don't drill

So miss hydrocarbons

But don't lose money👍

FALSE POSITIVES

Explore

Lose money💩. Thus, it can be seen that false positives

Are to be avoided ‼️

#PRD

Are superb in so doing

GRH. .. .. Many E&Ps

Hold licences

Devoid of ACTIVE hydrocarbons

At the other end of the scale sits

#PRD

🇲🇦 🇮🇪 🇹🇹

YES...ACTIVE😇

GRH. .. .. .. MOU3

LOWER strata ...

Pressures were measured

And quoted by #PRD

Yes...

DESPITE the clagging and back pressure🤣🤣🤣

THAT is why we are having to be VERY cautious

You're welcome

GRH. .. . With acknowledgement

To the inimitable 'Seabright' on LSE

'Focus not on the frequency of correctness

but on the MAGNITUDE of correctness.

DYOR'

#PRD

A reminder...Today 05:30

PRD is far from a one-trick pony. Cash has been raised and allocated for projects this year:

Morocco

🦖Drill, lwd, perforate & flow test MOU-5 and evaluate helium potential. Expect SV-101 on pad this week.

🛰️Regional satellite helium survey.

💥Swab & flow test MOU-3.

💥Perforate MOU-3 shallow sands.

💥Drill MOU-6, additional well in shallow sands.

🧑‍🤝‍🧑Finalise agreement with Afriquia Gaz for CNG with 2 producer wells.

Trinidad

🛢️Workover & dewaxing treatment for Jacobin-1 & Snowcap-1, initial oil sales.

🛢️Drill & dewaxing treatment for 2 development wells.

🛢️Drill Snowcap-3.

🛢️Workover & enhance production from Bonasse field, initial oil sales.

🛢️Workover & enhance production from ex-CEG fields after deal completion.

Ireland

🧑‍🤝‍🧑Execute farmout/sale immediately upon grant of Successor Authorisation.

💰A further £3.8M may become available from warrant exercise.

References - RNS's: 04 Nov 2024, 05 Feb 2025.

🎯🎯🎯I cannot believe that the considerable potential of the MOU-1, -2 & -4 prospects will not be followed up.

That's a lot of exciting emojis.

GRH. .. .. Based on MUCH evidence

Over MANY decades‼️

The FREEHOLD OWNER/S of Guercif

Would grant exploration/appraisal licences

To the finest geologist/explorer

Since Max Steineke and Adnan Samarrai🙏

PG was CHOSEN for this

How do you think the licences were awarded‼️

#PRD

GRH. .. .. .. On LSE I used to talk re Ghawar

IE Guercif is NOT Ghawar

Nothing else is‼️

But I expected Guercif APPRAISAL

😇LIKE GHAWAR'S APPRAISAL😇

To take much time

Yes...

Shareholders living through THAT period😇

#PRD

GRH. .. .. MOU 1...2...3...4

All = appraisal drilling

Yes...successful APPRAISAL💯

Including MOU2

PARDON🤣

#PRD

GRH. .. .. MOU4

Intersection with Jurassic‼️

Downdip ‼️

Edge of beach‼️

You're welcome😇

GRH. .. .. #PRD = cautious with money

Cemented well completions = very costly

MOU1 =

Edge of 'beach'

Not an isolated 'sand lens'😇

Cemented completion😇

JASPER on X. .. . Post successful MOU5 drill delivering >5TCF? EV price? 😳🍷💰📈

GRH. .. .. #PRD

Current 'Enterprise Value'

Approx £25m

Yes...you read that right🦕

GRH. .. .. Been asked

Q...

Why PG didn't go straight for the Jurassic❓'

A...

He didn't KNOW when we started

That it should prove hydrocarbon bearing

We only confirmed that via MOU4...

Initial focus was on the Fan system...

It was a HIGHLY iterative process‼️

GRH. on X —..—Dave

The so called 'market' has no idea

Participants befuddled by the messages

Re MOU1 - MOU4

🇲🇦 Paul is operating under very clear 'guidance' 🇲🇦

Sure...irreducible risk remains

But this is bloody big 🦕

GRH .. .. .. We are now a few days away

From spudding the most valuable

Bang/buck

Exploration drill🦕

In my investing lifetime

Truly remarkable‼️

#PRD

I quite understand your concerns Ibiza but it’s only fair to recognise that previously and possibly in the near future there can be a need for internal and perhaps external technical advice before an accurate assessment can be communicated. Overlaying all this is the fact that the Moroccan authorities will be central. If we do get an early positive announcement then I’d suspect it’s a pretty big deal. 👍

GRH. .. . .. Today...

I didn't buy any

A friend of mine ...another large shareholder

Did buy

#PRD

😇

Hmatt - Couldn’t agree more. Given our conservative expenditure , modest success in TT guarantees time and space for other projects to succeed. If you wanted to take advantage of a distressed PRED then the last thing you wish to see is TT payback. Hopefully it will not be required following imminent Moroccan progress but it demonstrates PG’s disciplined and prudent strategy to bring home the really big rewards.

GRH. .. .. .. Some folk might wish to consider

(Some might not)

The effects on the BALANCE SHEET

Of commercial oil sales in TT

Just saying😇

#PRD