SCALE and TIME3 May 2023 11:10
Morning
Following on from the helpful Cenkos note…
someone has asked me WHY gas supplies to the Moroccan industrial sector had declined YoY
I referred them to SDX
(I had mentioned such on my Twitter feed...)
As some know…
I have long banged on about the sheer scale of the Guercif asset and the levels of ENERGETIC HYDROCARBONS (E) therein
My old mantra …
E = PERMEABILITY x POROSITY X CHARGE
One only has to consider the level of CONTINGENT resources …already certified by SLR re MOU1…
to realise that PRD is dealing with something very large and remarkable
To put such ALREADY CERTIFIED volumes in an on land context …
(sub sea assets are very different due to both costs and time scales…
I was an investor in COVE…where the purchaser took well over a decade to build out)
I wonder if …for some readers… it might be helpful if I pasted this from SDX RNS of November 2022
<<
In Morocco, the Company announces two discoveries from the recently completed SAK-1 and KSR-20 wells.
The SAK-1 well has already been connected to the Company's infrastructure and testing results indicate that in place volumes will be on the higher side of the pre-drill P50 estimate of 0.44 bcf.
Crucially, the well opens a new production area to the north-west of the Company's historical producing area, with several other follow-on prospects identified within the SAK cluster.
The KSR-20 well has also discovered gas in this well-known area and is currently undergoing a pressure build up test.
The well will be put on production as soon as permitting and tie in are completed and an announcement on anticipated in place volumes will be made in due course.
Following these successes, and the identification of further similar drillable prospects, the Company plans to expand its drilling operations in 2023.
To date, over 70 prospects have been identified on the portion of Moroccan acreage that is covered by high-quality 3D seismic, of which 25 have been high-graded and total around 20 bcf P50 EUR unrisked.
>>
Did anyone notice anything?
‘will be on the higher side of the pre-drill P50 estimate of 0.44 bcf.’
‘of which 25 have been high-graded and total around 20 bcf P50 EUR unrisked.’
I often say ‘funny old World’
Regards
GRH
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