Haemo
As you well know...as I have referred to it before...
That was a JV that I stopped before it got going...the reason was well publicised by me at the time
The JV partner broke several confidentiality undertakings...by disclosing private conversations
.so I closed it immediately
Before it traded
I never tolerate people who breach confidences
I am sorry to say but I do think you need professional help
Regards
GRH
Androcles
Watch the guitar duels/solos...
I recall it was just over half way through the full video (you tube has it)
Atmospheric/epic
they all tried to stay with James Burton
They got close ...but not in the same league IMO
BTW...
we now have Haemo joining in
and saying this is a 10+ bagger from here
You couldn't make it up
Regards
GRH
Morning...
Obadhia...you have just raised the overall standard of this BB by 1000%!!
That is one great performance...one of my favourites!!
High on my list too is
Black and White Night with Roy Orbison...
simply staggering stuff...
the wonderful James Burton outclassing everyone but Roy...
they both leave others there looking on in awe...some GIANT names of course
What a line up...and they had a ball doing it
I used to do some early Orbison stuff when I was young...
(surprise...I wasn't always an old businessman/investor)
I still have a ticket stub when we out billed Rod Stewart...bigger font size
sounds mad of course
We really had some fun!!
BTW...I REALLY am here for Morocco...
Regards
GRH
MEM has alluded to PG being restricted as to what he can say
I don’t KNOW if that is correct ...or not
But it is very evident to anyone with a brain
that a couple of E&P outfits which were exploring in Morocco
did 'shout' loudly
and gained huge publicity as a result
publicity at odds with the results achieved
One only has to consider the TALSINT affair of some years ago ...WOW!!!!!
And more recently the publicity obtained by Sound ...
(a company where I called every drill individually /correctly... in advance...
both in Morocco and Italy/Badile
but where the licences remain 'pregnant' ...in areas beyond the TE5 Horst)
to appreciate that PG 'shouting from the basement' could well be the correct tactic
after all...PRD is a guest in a great Kingdom
The importance of ‘guest status’ is highlighted by today’s news at Genel re two PSCs
(of course my old friend Adnan Samarrai of the KRG/Ministry of Natural Resources
was the CHAIRMAN of almost all the operating committees of E&Ps operating in KRG territory)
Of course, the speaking softly approach
has disquieted many PIs ...
especially those whose share holding were simply not backed by RESEARCH
I hold more shares now than at any time
Yes...DYOR
I might be wrong
Etc etc
Regards
GRH
HeresHopin
I am sure there are some on here who are more bullish than I am ...but they keep quiet...
there are some bigger players holding high volumes now...I am in touch with several
as to timing...
the 'market' (usually just a bunch of ill informed folk, guessing)
can stay irrational for a while...we all know that
Its pretty clear that most folk just trade on headlines
and fail to read/understand what is put in front of them
So to move this appreciably...
does need news
and news in a FORMAT that the average 'investor' can easily understand
so it could be a while
or it could be a matter of hours
The secret of course is to spot those irrationalities and to take advantage
Its what I have done for over 50 years with some modest success
PRD though is IMO a real one off ...
when one considers the ratio of Enterprise Value /asset upsides
That is why I am bullish...
That and immodest amounts of 'research'
I wish you ATB
Regards
GRH
Morning all...
some good posts...
for which, my thanks go to the researchers and posters
Folk in the market (some on here )
generally seem not to understand that PRD is currently in the MIDST (**)
of one of THE biggest land based hydrocarbon exploration drills of the past 25 years
Yes...I am talking about MOU1 as a standalone entity...
I am not even referring to the wider activity re Guercif
(**) of course we have not seen an RNS re RESULTS of that drill
An investing friend observed to me a while ago something like...
" rather than shouting (like so many) from the rooftops
PG has shouted all right...
but from the basement"
Some folk might do well to re-read and study the RNS of 19 July
Another chap kindly let me have his word by word analysis of the entirety of that RNS...
IMO he spent his time very wisely
I have little doubt that MEM's post is on the right track
Yes...CALM here
Regards
GRH
Afternoon
just finished a couple of hours mowing on the old Wheelhorse
...very pleasant it was too
So...now popped in here
I see that all is very CALM again
so I will pop off to open a nice bottle
whilst seeing if my Wife and I will be able to import a street dog from Romania ...
to try to improve its lot
The watchword again today = CALM
Regards
GRH
Morning ...
as its calm again...
I wonder if this might be helpful
Some will know it all of course...
but maybe not everyone?
https://www.academia.edu/14824281/BASICS_1_1_1_TERMINOLOGY
You might need to copy/paste to your browser
Regards
GRH
Afternoon
Whilst it is calm here
I just want to make an observation if I may:
The other day, a poster said that he held several E&P stocks in his portfolio...
on the basis I assume of ‘spreading risk’
Forgive me...but that is 180 degrees different to my own approach
I VERY rarely buy an E&P stock...
and then I only have one at any one time...
the time gap between them can be several years
The reason is brutally simple:
In my experience...FWIW...
there are not many highly pregnant E&P stocks out there with all of the features I seek
Others will tell you differently ...and maybe they have evidence to back up their view...
But I do what has worked for me
It’s been /is a great run
As I mentioned...
CALM
Regards
GRH
Morning...
Bradley
I was not impressed by the content of that RNS
From my view...
the noteworthy thing is that the m/cap (NOT enterprise value) of the company
INCREASED
by almost £40m...this morning
Remind me please of the M/Cap of PRD...
and yes... the PRD EV is well below M/Cap
Regards
GRH
Wack
another epic piece of research...for which , many thanks!!!!!!!!!!
As to the fault line
as you ask..
when GKP got the Shaikan licence, they tried to farm it out...pre first drill...with BIG players
but they were unsuccessful in doing so...
Shaikan was thought to be a 4 way dip closure
but it had NO closure shown on seismic on the Western flank of the block
and it was assumed by Majors that the oil would have migrated West...
and that Shaikan itself could be a duffer (no chance!!!!!!!!)
so GKP drilled it sole risk (thankfully...as I owned full 1% then)
BUT...my wonderful associates (read my post of 20 DEC 2011) had assessed that there was a likelihood of a reverse slip fault (sort of zigzag in the rock) on the Western edge of Shaikan
So it proved to be!
Indeed not only was Shaikan 'full to spill' ,
it yielded an oil column of 3x height of The Shard
and went on to become one of THE greatest discoveries of the previous 25 years
The point was that the hydrocarbons filled Shaikan AND migrated West as well...
into Sheik Adi licence (in which GKP also participated)
it was so good that ...as I forecast in several private meetings...
SH4 would not only NOT be right on the edge of the structure
but it would prove to be the most over pressurised drill on Shaikan
ALL proved 100% correct (again covered in my note of 20 DEC 2011)
So if there is a similar fault at MOU ...it could be that energetic hydrocarbons are located on BOTH sides of that fault line...
IE it not proving an impermeable barrier at all
IF and yes it is an 'if' of course...
IF that is so...blimey!
I should not say any more
Regards
GRH
Morning
I have referred previously to the tectonic shifts and The Messinian Salinity Crisis
and how they greatly affected the depositional characteristics and volumes within the Guercif Basin
It was all a bit 'abstract' ...I realise that
so...last night I found this little animation (?) on Youtube
https://www.youtube.com/watch?v=vLdXUk3rwl8
Now...consider the sedimentary volumes involved and the overall thickness((es)) thereof ...
If anyone finds it helpful ...that would be great
you might want to watch it several times?
The tectonic and thus orogenic (mountain formation) effects
resulted ...with the salinity crisis... in not one but two major depositions of faeces...
one upon another...
the total thicknesses in places being very great
The weight of the 'overburden' thus created will be very great...
maybe someone else here might wish to consider the pressure regimes that might be involved?
as...you guessed it...couldn't resist it...
I am now off to the Kitchen
Regards
GRH
Thanks LochNez
I had read parts of that before but again I stopped short of the whole document
I might reapply myself
Of course, there is a fine balance re pressure regimes
too low and the well will lack lift energy
too extreme and the design implications can be considerable...as can the risks of major league blow outs
I would be really pleased if we see 8,000 psi ...
really in the sweet spot maybe
So
we are pretty sure now that we have
good porosity
good permeability
good charge
Whilst the 60sq kms referenced in the RNS is one hell of a scale for anyone
(and it is only part of our potential 'prize' )
I do wonder what interconnectivity exists from MOU1
I got the impression from the recent RNSs that what they found made them change the whole game
and ...almost certainly ...it will have required 'clearance' from ONHYM ... or even higher...as to publicity
MOU1 was not drilled 'tight hole' status for no reason
Whilst I am in a fortunate position ,even an hour spent studying the SLR CPR
will inform anyone who understands anything of the history and geology of the Rifian Corridor et al
(I am not being Penrith-ist about this)
as to the now pretty clear fact that there is much more to the areal extent than 60 sq kms
I am not here without reason
I hold more shares than ever before
Regards
GRH
Mick...I did indeed 'check out those figures' (albeit different play type to Guercif)
bl**dy hell...
up to 175million cu ft per day!
We will all be happy with a bit less than that I think!!
BTW...
Great Papers you referenced Mick...
for which many thanks
I am going through them again
Regards
GRH