Member Info for highlandmatt

I'm going to report Rob's summary of my notes, as it has been buried under the squabbling this morning.

Snippets of info:

Mou6 being progressed. However, MOU6 pushed back due to preparation times. Design mud system, casings, then having to import.

Mou6 targeting 16 square km. Will prove additional resources. Believes shallow sands may now be bigger than thought. Talking 80m gross interval.

Divestment does not rely on Mou6. Let that sink in !

All wells prove the holistic value. Marketing a 20 year horizon.

Mou-3

nutech shows 80% gas concentrations.

Four different levels of gas in Mou3. Reservoir unconsolidated. Proved formation damage. Talking about sands giving 25mmcfd flow potential. Gas and helium samples from the well, including helium even with the over balanced mud.

Active drilling programme good for the divestment process.

6 month commercial process has already started. Someone is interested enough to start a commercial process with Predator even without finishing Mou-3 or starting Mou-6.

£1 a share next year while talking about NED share options.

Ireland

1 Nov, if no response from Ireland, going 'no win no fee' legal route.

Trinidad

Confirmation of 280 bopd production.

Looking at Snowcap 3 (shallow) being drilled as a shared venture with drilling contractor, so minimising outlay. Snowcap 4 is planned to be 100% PRD.

Have 3D seismic.

Snowcap 3 and 4 targeting initial 1,000bopd.

Snowcap 1 previously stable 200bopd. Can't produce all intervals, but offset wells in Cory Moruga West are about 300bopd.

Trinidad valuations are based on bopd.

Already had approaches to buy.

Not selling yet.

Thanks everyone for your input.

Let's test this shall we. Bought shares 5 years ago. Still hold those and more. So no, not a trader.

Let's flip it round, you spend an awful lot of time saying PRD is a dog and folk should sell. Occasionally I sell some. Now you criticise that approach?

Me thinks that at best there is either hypocrisy or duplicity on your part.

Anyway, moving on. For me the 2.5hr presentation last night was very revealing. You had to pay attention, but there were little snippets throughout. The strategy remains clear - keep costs low, build the business, sell at an optimum point.

Attempting to play the man again?

Yep. Core holding remains. Just buying back the ones I bought at 3p, sold at 6p. But I never sell all of them, just get the cash back. Free shares added to my holding and average lowered.

Couldn't resist a cheeky top up after that update last night.

Ibiza, incorrect to say we haven't found anything.

Yep. Differing views are one thing, but if you think that presentation contained nothing of value you are either not paying attention, thick, or deliberately being negative.

Can someone take over. I have a family call now.

Trinidad valuations are based on bopd. Already had approaches to buy. Not selling yet.

Snowcap 3 and 4 targeting initial 1,000bopd. Snowcap 1 stable 200bopd. Can't produce all intervals, but offset wells in Cory Moruga West are about 300bopd.

Trinidad - costs zero. Netback 30% after royalties. Will take 2-3 months to get cashflow model. Production increasing all the time. Profitable, and becoming more so. Reiterated target of 1,000bopd in 12 months.

Making the point that there was more formation damage than Schlumberger anticipated. So, that might underplay the gas composition if anything. Reckons now on top of the drilling challenges.

Talking about helium, volcanic source deep. Early stage, but looking attractive.

Mou2 still live. Up dip from Mou 3. 60 square km. 80% gas saturation per nutec. Helium potential there as well.

Yes. Just threw out a £1 a share next year while talking about NED share options.

Mou6 targeting 16 square km. Will prove additional resources. Believes shallow sands may now be bigger than thought. Talking 80m gross interval.

Mou6 being progressed. Active drilling programme good for the divestment process. Divestment does not rely on Mou6. All wells prove the holistic value. Marketing a 20 year horizon.

Mou5 - hit Jurassic but down dip. At TD, hit Triassic. 100km structure. No gas in Mou5, but some helium. Believes it is a whole new play. Helium sampled in Mou3, ignored it. 68 km structure for helium appraisal. Jurassic risk was top seal, but salt layer derisked that.

Cory Moruga needs a sales agreement and a sales point before production can be sold.

Apologies. Was referring to total licence as opposed to just Jurassic or Mou fan.