Member Info for GRH...

Now ...as a complete aside...
Off topic...

Talking of Aberdeen..

I happen to 'know'the chap who financed the massive rebuilding of His Majesty's Theatre, Aberdeen ( a far cry from the smaller project recently)

John Taylor was the Chamberlain I recall...very nice bloke

Despite it being the Granite City, folk were most hospitable

A colleague and I were due to fly back to London one Friday evening...last flight out

A big snowstorm was coming in fast...so we could have become snowed in

The pilot announced this as we were taxiing for take off...
With just 8 passengers on board plus small crew ( not dwarves)

He announced he was going to 'stand the plane on end'to miss the big dark snow clouds at end of runway

We thought he was joking of course

But it was a BAC1-11...

Bloody Nora...

Surreal for a passenger jet

Regards
GRH

I am a long way beyond mildly excited…

sorry but at my age, that is uncommon

Well done Porters!!!!!!!!

That chap has probably forgotten more about this subject than I can ever now learn

Clearly…
He knows this stuff backwards etc!!

At coffee this morning, my Wife asked WHY I was so excited

I explained…re analogues
she was VERY interested

Then I told her about THE thing!!

THE THING:

When trying to describe to an incredulous bunch of shareholders…
the sheer scale of our licences…

WHY did Paul not choose say the Maranon Basin etc…(about which I know a bit) ?

Or why not any other great on land provinces?

WHY did he come straight out with it…
‘our licences are equivalent to SIXTY North Sea blocks’

YES…
It’s been hiding in the plainest of plain sight

I think we are now starting to understand how far ahead of us are Paul and Lonny

I am going to really upset the micro dwarves/traders

But I will say here and now that the Michael Caine post

REALLY failed to do justice to what we have

The men in white coats can come and get me…but right now…I really don’t care :)

Cue the micro dwarves/traders
Confected outrage etc

Regards
GRH

Morning
I have doing 'research' into the slumped mud at MOU2...

Trying to find true comparables...to work out the scale of what we have on our hands

TBF...I cannot find anything in Morocco of such scale and composition

I am not going to post HTML links ...
((As many now realise...
I think it preferable if folk here actually research ... find out for themselves))

There appears to be a very strong analogue re Guercif

I refer to the North Sea...as I have previously mentioned a few times...

Yes..
I know it bores some readers!

But...in particular ...it looks as if the Captain fairway is very similar to the Rifian Corridor ...it might help explain the sheer scale of the mud slump

It seems that quite a few non trivial fields have been discovered at Captain...
(Similar to Rifian ..multiple zones of sandy turbidites that flowed along a very substantial trough )

I am aware there are folk on here who know this stuff backwards ..
so I readily defer to them of course

But if the Captain and Rifian troughs are as similar as it appears...(yes...I could be wrong)...
There are going to be some smiling faces around

BTW1...
I am VERY confident that our management is aware of these similarities

BTW2...

The Captain fairway represents one of the UK’s most prolific petroleum systems...
Very many ££££ Billions have emanated from it

Regards
GRH

Fred

Vital to understand the extreme distinction between DILUTION

and ACCRETIVE activity

Regards
GRH

Fred...

Vital to understand the effects of debt!!

Regards
GRH

Fred

It was indeed in a tricky position ...initially

As they tried to farm out 50% of Shaikan but there were no takers...

That was due to there being no obvious closure on the Western edge of what seemed a four way dip closure...the lack of closure meant that would be farminees thought the oil could have escaped to the west...into another block called Sheik Adi

So GKP had to drill on sole risk

The market maestros hated that...thus the shares were Very cheap...
I recall a chap saying they were priced purely as call option money...no idea who that was!??

But of course Shaikan was successful ...after major intervention by Adnan Samarrai!

The field was and is hugely prolific

The lack of closure of course was a reverse slip fault into Sheik Adi

...Shaikan remained full to spills!!!

My evaluation and post re SH4 well was important ...
according to the company itself

The reason the shares motored smartly backwards ( I do not recall they were ever 1p as you say) was that GKP incurred massive DEBT....!!!!!

In the shape of a bond...
They broke many of the covenants in that bond and the holders swooped...
Literally leaving equity holders only 1% of their previous value!!

It is in part why I shout quite so loudly against companies having debt!!!!!!!

...I have long counselled folk to only ever consider enterprise value...not simple m/ cap...but few seem to understand the point

The role of the KRG was central...
As gkp had to sell their output to krg who then on-sold it to market

When krg failed to pay gkp, the bond writing was on the wall...

sure enough, defaulting on the bond was a killer to equity holders

ISIS then arrived...in Iraq!!!

Regards
GRH

older...of course

I was talking in public about GKP at length ...and buying ...at 4.5p

Several folk thought I was bonkers ...

and they didn't hesitate to tell me

I was the largest PI at 1%...it was a few £

That was when I first came across the totally wonderful Adnan Samarrai
who became a good and trusted friend/partner in eating strong curries
He even represented me in meeting with another company CEO

I am still a good friend of another of their then very senior executives...we chat weekly

Someone kindly suggested that my knowledge of every single well at Shaikan ...and far wider afield...was non trivial

I also posted twice when I sold down
so folk who followed my lead did OK
I am still friends with several

Then there was recently the case of SOU when I took the very opposite views to their exploration team
the score there ?

SOU 0 GRH 4
I called a reverse 100 bagger...
they ran 102 p down to 1p

There have been several other companies where I have been 'not incorrect'

they include
Sangaw North by SEY
heavily liked by many...hugely expensive drill...biggest investor rumoured to have lost $300m...of course I now know him :)
I called a duster
Result?
Most expensive on land duster ...or so I was told

Then BB1 at Behr Bahr ...
drilled by Tony Haywood when he ran Genel (after his BP media trashing upon Gulf of Mexico disaster

COVE was sort of ok

Funny old World

of course ...

I might be wrong this time re Guercif
Caveat emptor
Risk has been greatly reduced but it CANNOT be reduced to zero
DYOR

Regards
GRH

Mumbo...

GKP
see my post of 20 DEC 2011

Regards
GRH

Thanks mumbo jumbo

I recall that old iii feature very well indeed...the current version of iii is a poor substitute imo

I think I am correct in saying that I still hold the record for number of upticks...

565 Upticks...when I checked it

LSE could be improved in several ways imo

Regards
GRH

The following point has now been made to me by several senior investors who know their stuff

and who I have known for many years...

It is blindingly obvious that some micro dwarves are intent on ensuring that useful informative content is demoted from the first page of BB

Thus ensuring that would be investors don't see decent info on BB...merely the rantings of those in the employ of others

What a malodorous way to try to earn a few bob

Regards
GRH

Morning

Thanks Keith

Really interesting Paper...even if I didn't understand a bit more than 1% of it (!!!)

Whilst I might be on the right track re culprit... the key part of that Paper..at least for me...was the emphasis on conducting lab testing before deploying solutions in the field

Another thing that stood out was the effects brought about by high pressures!

Regards
GRH

Afternoon

Amidst the very deliberate SP manipulation ...
via endless incorrect statements and lies and drivel from the usual suspects...

I am slightly surprised that more detailed speculation has not been made on here re the technical nature of the slump at MOU2

And what chemicals might be required to alleviate the reactivity issue

From my limited research ability ...
I wonder if Montmorillonite is playing a key role in the problem?

I am aware that there are some on here who know this stuff backwards...

so any commentary about likely technical mud components would be well received

As would commentary re how such mud issues have been resolved elsewhere...

As I understand they have in prolific areas of the North Sea

Thanks

Regards
GRH

Earlier...(and in my very amateur and fumbling way)...
I was mulling over what we have heard recently from our Directors...

Among many truly terrific bits of information...

the following excerpt jumped off the page.....

"As a result of this the MOU-1 perforating and testing programme will be more focussed and extensive in the principal zone of interest

to determine potential connectivity with the seismically defined area of the Moulouya Fan between MOU-1 and MOU-2 that is interpreted as potentially gas bearing"

If...and yes it's an if...

If the area BETWEEN MOU1 and MOU2 is indeed gas bearing

And knowing what we know about the LEVELS of charge...

Plus
The extraordinary porosity and permeability at deposition.....which will not have been materially reduced over time...

((Thanks to Nutech et al!))

I can safely say that ...

This is every bit as pregnant as I first concluded it was

One of my investing friends has suggested to me...
That it might be extraordinary

If the same ,purely amateur, investor 'discovered' both the oil field that is Shaikan (biggest in world in last twenty years?)

and the gas field that is Guercif

I couldn't possibly comment

BTW...
Get those industrial manufacturers working Keith...

I like your 'bath' analogy...

Coincidentally ... that was how Shaikan was described

((I will look up later exactly HOW I first described it in public))

Yes ...it was ..and is ... a mere 281 sq Kms:)

Regards
GRH

Thanks Wacky

That is indeed the one!

I will allow folk to absorb it's extraordinary content
Before I might post later in the day

Pity that Australia is soon going to sleep...

as their manufacturing industry might need to work shifts

Mainly on making bigger pudding basins

Regards
GRH

How big is that graben?

Approx 750 sq Kms

I am not making this up

Regards
GRH

Morning...

As some know, I have long considered it a real possibility

that the entirety of the Guercif graben is gas charged

Wacky did a truly excellent post a while ago covering all holes drilled in the vicinity ...it's also on Reddit

I would like please to request him to repost it on here...thanks

Regards
GRH

Morning

Indeed...I was able to buy good seven figures at 1.5p...sensational opportunity/ timing

I posted several times when I did so...all in my post history...

Several folk thought they were being very clever by denigrating the purchases!

Mind you, the risk /reward ratio then was VERY different to now
PRD still had the convertible loan note outstanding...

and of course drilling had not then taken place ...
so empirical data from MOU1 did not exist!

The current price being very much better risking than when I bought bulk holding

Yes...I did further increase my holding on the recent pull back...

again, I tweeted about it
So folk cannot say they were not told

Hope that helps

Regards
GRH

Oilyfred

The activity today makes that vanishingly unlikely

If you want to contact me on twitter, I can explain how a 'book' or 'ladder' works

I have referred to such matter before

Regards
GRH

Aha

The old
'Kweli, ilinifanya nitabasamu hata hivyo' gambit

My first attempt at discovering wtf it meant...made me think it meant...

'There aren't any matches for your search'

Then I started to smile...

In fact...

I haven't smiled quite so much
Since I first sat down with my theodolites and ice packs...to study Guercif

My cries of 'Geronimo' were heard back then all over the house...
scared the living daylights out of the flatties

Regards
GRH...
AKA
Eric

Some might suggest they are becoming fiesty...

but then the Swahili dictionary is only now gaining in popularity

With apologies to that french footballer and his trawler:)

And to good folk on here who might be bemused by such private humour

Regards
GRH