Member Info for Gudin

If the permit expires on the 5/6/24 as per the presentation then a few weeks late will matter as the spud will not occur until a new permit is issued. Lets hope they are discussing a longer date for the permit.

Pauls timelines have been so accurate how can anyone doubt them?

Chars wells are being drilled to a similar depth as SDX wells that take 20 days, it's the 4th April and they have not started yet. Mid May before Char is finished, then Sound next. Thebold was been optimistic imo.

Should be Q1

Keithoz has again overlooked CHAR signed contract preceding PRD to drill two wells planned before end Q3 and Sound claiming they are next in line.

Cannot see how two (possible) three wells will be drilled and the rig moved before the exploration permit expires on the 5/6/24. Paul thinks it's on plan, CHAR thinks it's on their plan who is right?

The latest presentation had larger perforating guns as the next choice if sand jetting does not work. They provided a similar well in northern Morocco with comparable mud weight used and these were successful in that case. After that it will be sidetrack probably.

IJT

Paul has said that many things over the years it's hard to take any serious. Off takers to fund cng. Partial sale and now PE. Still maintain PE is the worst option as they are not renowned for their generous offers. Adding an extra layer to any deal is going to reduce profits as PE are going to want their pound of flesh.

Keep hearing about how profitable CNG is (figures over a billion bandied about) why not bank debt of what has happened to T and T funding from a few months ago. Strategy is all over the place it seems like different options are floated every time he speaks.

Should probably stick with your original opinion. All PE is going to do is introduce another party who will take a slice of the profits before they sell onto the only entities that can develop this, the oil and gas companies. A placing or debt would be a less dilutive route for current shareholders.

If they had been open about the testing aims then the share price would still have fallen and would also not have reached 13p in anticipation. The end result would have been a share price similar to what it is now. The market wants to see flow test results and the valuation will reflect this until they are achieved.

Moaning about trading is pointless when the management themselves are providing the trading opportunities. Allowing the share price to increase whilst failing to inform the market in a timely fashion that testing has not started is creating these situations. The same with CEG example, yes it's a great farm-in but drilling is not happening until maybe 2027 a lifetime away in the current markets and hence the muted response.

The Ber Bahr licence which is also positively mentioned was handed back. Just for balance.

I bought into GKP a few weeks before the SH1 discovery and read the ii board most days which was the most popular at the time. I can recall BBBS and Gramacho who seemed to have fantastic sector knowledge and spidermonkeys infamous nav calculator. GRH not so much. Maybe it's my bad memory, is there any record of these posts?

No idea who this is and do not really care. But to come on here and post about abuse on social media and target someone on twitter is hypocrisy of the highest order. Shame on you Graham, showing your true colours imo.

Keithoz will not need me to remind him of the operator who after they finished using a rig instead of releasing it to HE1 where he was a shareholder decided to activate an option and kept the rig onsite rather than release it. The rig was stored and not used for some months. A recent example of operators retaining equipment in a situation when equipment use is competitive.

Maybe the operator just wanted to ensure their operations ran smoothly and any possible delays in PRD using it did not impact their operations.

"MOU-5 is expected to be drilled between 1 April to 31 May 2024"

Expected as has been pointed out numerous times now. CHAR are drilling two wells starting before Q1 and sound seems to think they are next in line after that. There is no start date because to be blunt they do not know when the rig will be available as CHAR have deepened their well plans since the 5th Feb. All drill rigs are slots which depend on the timing of the previous drills finishing.

It has been pointed out before, others are using it first. The date was "expected". The rig is in high demand, CHAR made no secret of their plans for Q1. Maybe the question should be why after having the cash since 1st August did they not use it earlier? As far as I know the rig from Mou 4 in July to now has drilled one well for SDX in September.

You still going tonight MEM?

James

Char has signed a contract for the rig due to start before the end of Q1 it has been released in rns. Sound did a presentation mentioning they are using the same rig after the current operator has finished expected end of March.

https://www.lse.co.uk/rns/CHAR/operational-update-a0dzgsggufflt2i.html

https://www.youtube.com/watch?v=GWR68wCx06E&t=282s from 4m 30sec.

Two wells for char and one for Sound planned for the rig first, which has yet to start. If the permit expiry is 5/6/24 then it's going to need to start those wells soon or it's going to be tight.

The conspiracy from ROB is cringeworthy. ROB has previously threatened legal action for damaging his reputation, can he sue himself?

There needs to be some management experience added to the board in the form of a chairman. Paul down to CEO, a COO appointed and Lonny off the board to Morocco manager. It's getting painful watching them flounder out of their depth.

Permit has been awarded according to page 4 timeline. Stage 1 testing does not make good reading, could not get sandjet or the bigger guns but continued anyway. T and t delayed until 2nd half, no date for mou 5 as expected. Management unable to complete current projects so looking to farm out Jurassic is fair enough until they then say they looking at West Africa projects now as well. Lack of focus apparent throughout resulting in delay after delay.

They have issued that many timelines is anyone actually going to give any credence to the latest rendition. The boy who cried wolf etc

https://www.youtube.com/watch?v=KThbNtVCFs4

It's a 3% royalty and 30% corporation tax. It's also under the purview of the ministry of minerals.

Best to actually know the facts before stating incorrect ones.

Watched the May presentation again over the weekend and they can basically recycle this and change the dates by a year.

https://www.youtube.com/watch?v=QdHMex84Utw

Since the completion of Mou 4 in July they have completed one failed testing program, signed a MOU and had T and T approved.

Time to start delivering some shareholder value. Time to start delivering on timescales.