Member Info for highlandmatt

3D is a licence condition. Given the salt it is very sensible. Given the share price, farming out the expense is the best way of funding that 3D survey without massive dilution. We can argue about the whys and wherefores of cashflow, but how long have we had a farm in proposal for Corrib that would have given a boost? CO2 was providing income in T&T until CEG had a fit. We are where we are and need to move forward.

Https://x.com/Share_Talk/status/1904105630308167896

Https://www.share-talk.com/rns-hotlist-with-zak-mir-panr-arb-gmet-he1-cel-svml-thx-plsr-ensi-hree-insg-prd-ecr-wg/

Comment: PRD moves along swiftly from the mixed MOU-5 result, and is clearly to wanting to aim and illustrate why it deserves the latest Oak Securities 148p price target. It would appear that those regarding PRD as a one trick pony will be disappointed.

Now, if we scale that up to 180 bopd (inc CEG fields) = $1m a year profit.

If jacobin and snowcap can do 360bopd between them, that's another $2m.

Dear oh dear.

Bold - WTI @$68, minus 12.5% royalty = $59.5.

Then apply 30% = $17.85 per barrel.

Times 16 barrels = $285.6 per day.

Now, that is pure profit. No opex. No tax as we have acquired losses. x30 days = $8.5k a month = $102k a year.

So, Bonasse is predicted to get to double this, so $200k profit for the year. Minus a bit for our in country manager, but not bad for outlay of $170k purchase price.

No, if we scale that up for the CEG fields....then Cory Moruga....

Read the RNS - no opex.

· Under the PAFSMA, The Company will receive 30% of gross sales receipts at the sales point, after 12.5% government royalty ("revenues"). All investment costs and field operating costs will be solely for the NABI account.

A couple of interesting snippets from that news article:-

1. "The discovery of additional gas-bearing intervals and an unexpected sandstone reservoir below the Domerian carbonate highlights the potential for further hydrocarbon resources within the basin". Notice intervals plural. So, more than one helium show or something else? "Sandstone reservoir". Not sandstone layer - reservoir implies liquid or gas. Water, methane or oil?

2. "Encouraging data from wireline logs show a 50-metre carbonate section with strong resistivity and sonic responses, supporting the presence of hydrocarbons." 'Strong' implies an amplitude that isn't low. High resistivity is usually associated with hydrocarbons. Water gives low resistivity.

Now, is something being lost in translation of the RNS or is there some extra info out there from somewhere? Or am I reading too much in to this?

So, a field that was producing 9bopd is now up to 16 with a couple of workovers, and more to come. Interesting operating contract so we have no operating costs.

Jeez. It's Sunday. Give it a rest and go and enjoy the day with family or friends.

'suspended' not 'Plugged and Abandoned', which involves poring concrete down the hole.

Come on Bold. Try not to state something so easily disproved with Google:

A plugged and abandoned wellhead refers to the process of permanently sealing and removing the wellhead (the top part of the well) and associated equipment from an oil or gas well that is no longer productive, ensuring it's safe and environmentally sound.

Here's a more detailed explanation:

Why Plug and Abandon?

An oil or gas well is plugged and abandoned when it reaches the end of its useful life or becomes economically unviable.

The Process:

Sealing: The wellbore is sealed with cement plugs to prevent fluid flow and isolate the reservoir from other formations, including freshwater aquifers.

Wellhead Removal: The wellhead, which is the equipment at the top of the well, is removed, and the associated flowlines are excavated.

Because obviously you put a wellhead on a duster for re-entry.

£100k+ is a lot of money for a PI, and there was an awful lot of uncertainty that day. Now the extra clues have came out from PRD via X, there are more positive indications. He still has a large holding.

I'm not so sure. EVA might just have been taking advantage of the rise on Friday to bank a profit and derisk ahead of results. This and the vague RNS was then seized upon by the doom brigade to drive the price down.

Https://x.com/PredatorOilGas/status/1902662956757799298

Upgrade of facilities at Bonasse oil field completed – stored oil to be sold shortly

Workover programme going better than predicted #PRD

Rather hoping that revenue from T&T keeps that prospect at bay for a bit until other triggers materialise.

Let's hope that continues over the coming days and weeks. I know my posts regarding potential RNSs the morning after were a joke / fantasy, there was an element of truth to each possibility. There really are a lot of potential positive triggers to come.

Yes he has.

Bit more buying pressure.....I am encouraged by the apparent success of the workover programme. That implies more than just Bonasse. Jacobin was targeting 100bopd, so if that has been exceeded, that is good news indeed.

Domerian is early Jurassic, so would expect that to be at the bottom of Jurassic strata. However, maybe the Triassic has something (can be either source or reservoirs)?

Yep. There's a lot of imagery we are not used to seeing. It feels like PRD are dropping hints without saying anything. Still under embargo pending approval from the technical committee, which is awaiting the analysis of the 50m section?