Member Info for highlandmatt

Not necessarily. Helium can exist without methane gas. See Helium One's Itumbula well.

No, I don't think so Chesh. Maybe playing the game as directed by ONHYM? The alternative is that it's head scratching time and back to the drawing board, but that doesn't tally with 80m of good sands (maybe 20m net pay?). I think it continues the pattern utilising lab data to the maximum before making decisions. Whatever has been found, PG thinks it is of sufficient interest for a farminee.

We know PG doesn't rate the SP, a corporate action will determine the value received, and will be talking to ONHYM. I believe even if he wanted to say something now, he probably isn't allowed to without approval. There is also the price action on Friday, which was going well, and not the typical derisking pre results. What caused that buying pressure? Why not let that continue? I further wonder if he has been told to keep something under his hat, hence the communicated shift of focus to T&T to avert attention? I know that is just conjecture, but it does seem strange to issue an RNS stating that nothing will be released until full analysis of data, and then just put out a very brief holding statement. PG seems to have suddenly decided that 3D is now required, having previously disavowed it. Mou6 long lead items were ordered, but no mention of that in the immediate plan now. Something might be afoot.

Good point Hiscus. Notification received yesterday. EVA took 20m of the 4p placing, then bought some more (6.7m) up to 18 Feb around 4.3p. Looks like they sold the extras on Friday, for a small profit and kept 20m. PG maybe didn't want the disposal to be the only news, so put out a holding RNS with just the bare minimum. That might explain the market's disappointing reaction.

PG cannot say much at this stage. Best to wait for the data to be analysed first.

I think we have our answer for the share price weakness. EVA has sold 7m shares, up to Friday. Is that the 'profit taking' referred to this morning?

The comment mossma refers to.

Author @ZaksTradersCafe

PRD said “The results of the MOU-5 drilling programme have unlocked a new Jurassic play-opening trend never before tested in the Guercif Basin. A helium show has provided the impetus to further assess the helium potential of the MOU-5 structure. Confirmation of our pre-drill play concept and seismic inversion modelling work based on limited 2D seismic data allows for the acquisition of more focussed additional seismic data to clarify the updip potential.”

Comment: One can understand the frustration that PRD may have had with its share price of late, as the market these days does not have a grain of salt’s worth of being forward looking. As MOU-5 is further revealed one would expect this situation to be reversed very positively in the company’s favour.

Well drilled on time, on budget, no mechanical issues. Good quality logs secured. Well suspended for future re-entry (so certainly not the duster some suggest, as that would be plugged and abandoned). We await more detailed analysis while PG goes off to talk to interest parties.

Find a large gas deposit, price goes down 25%. More cheap shares for me 😆

80m gross interval over a large area. That's a good result in my book. We seem to have traded some potential reservoir height for a better seal.

I'm taking that as a good sign. Hopefully that means an safe, successful drill with no mechanical issues.

Not sure it will take quite that long, but possible. Wireline logging, release initial results, then a period of analysis? Then testing once the intervals to be perforated are agreed.

Equally we wouldn't be at lows without 2 recent placings at 5p and 4p.

I can't take credit, just copied it from the Predator board.

Anchois mentioned, so not dead....?

https://www.zawya.com/en/projects/oil-and-gas/morocco-to-launch-6bln-tender-for-natural-gas-infrastructure-wq7bg3z7

Thank you for that great discussion. I have pondered something Paul Baay at Touchstone said on a recent interview, along the lines of 'after developing and selling two companies in Canada (from 1k to 20k bopd), I took some time out to consider the next venture'. He settled on Trinidad due to proximity to Venezuela/Guyana, existing industry, and opportunity to bring modern techniques for drilling deeper for gas that was previously found but not developed decades earlier.

PG, with 40+ years of experience across various regions, could have taken his funds, knowledge and contacts anywhere, but has settled on Guercif. Why? Proximity to large fields in Algeria, a history of previous production but lack of previous exploration deeper, an opportunity to bring modern tools and techniques, scale of prize. He could have retired a wealthy man, but has chosen to pursue this opportunity. He's not chasing puddles or deer, he's elephant hunting.

I don't think I have ever filtered anyone as quick as I just have. Pancakes in the green bin.

The important thing is that He1 will soon be a producing company with income. Any future dilution then is for specific projects, not G&A.

Like that 300k purchase when you said it was difficult to sell?

12-Mar-25 16:26:28 3.989 299,281 Sell* 3.90 4.10 11.94k O

Sells were going through at 3.90 previously.

Would think the MMs would be needing more shares to replenish?

Hi Ibiza, either you misunderstood me or I didn't explain myself very well. It wasn't a criticism, just an observation. Folk throw rocks at PG for changing a plan, but shouldn't be surprised by his 'operational flexibility '.