Member Info for highlandmatt

Agreed, Morocco is where the big win could be. However, for not very much PG has assembled a portfolio in T&T which he believes that can generate meaningful revenue for PRD by applying different techniques and showcase the CO2 EOR technology. It's another pillar that will create value.

Obviously there will be some costs with workovers and drilling the new Snowcap 3, say another couple of million dollars?

Bonasse was basically free, the three fields just announced are producing approx 120 bopd net to PRD and will mainly be paid for by shares and future revenues. If we take 1/12th of your calcs Gudin, then that should clear $1m a year profit. More than a return on the investment, even without any increase. It is Cory Moruga where the big expenditure was , and where we are looking for the greatest production.

All in, I would be very happy with 1400bopd net to PRD. That's about $30m of annual revenue. If PG can pull off that revenue for the costs of 1) free, 2) $250k plus shares plus a revenue share, 3) a couple of million and a credit from the EOR project, then he's done very well.

Either way, it's a positive. Expecting a rise from here as the churn gets bought.

Assuming that is accurate.

Or the disclosures relate to the two recent placings, rather than recent open market buying?

However, as GRH has pointed out, the Oak NAV is Risked already. So upside in a Morocco Jurassic success case is technically significantly higher.

Only if we get to 2700bopd in T&T. Given there is little in the SP for T&T (SP has reduced while T&T expanded), you could argue the entire map is based on Morocco. At a 148p success case, that implies a 1 in 6 chance, with Ireland and T&T for free. I was thinking more of the impact of any production increases e.g. 900 bopd might add £8m to mcap. However, the real value is having a base income, meaning cash burn is reduced or eliminated and any subsequent dilution should only be accretive.

For reference, 2700bopd was the production at Trinity when Lease Operators bid £26m. Coincidentally that is the current PRD mcap.

Ask being hit repeatedly again. Tick up or delayed big sell?

3 x 100k+ sells since 4pm. Churn continues?

Folk are ignoring the fact that PRD has been undertaking the prep work for testing of Mou3 for months.

Ask under pressure.

Eva Pacific increased holding.

Also, as it is Caribbean Rex making the acquisition , I am assuming WIEGL has input in to the deal and are contributing half the upfront consideration money.

Just been looking at the CEG interims Dec 2023. Revenue of $3.5m but costs of $4.1m (Cost of sales includes Trinidadian field staff costs and expenses, and depletion and depreciation of oil and gas assets of $540,000 (2023 half year: $632,000; 2023 full year: $1,193,000).

One would hope that WIEGL can achieve some efficiency savings on field staff, and PRD can achieve uplifts in production through technology (wax and CO2 EOR).

Deposit is shares, cash on completion is $250k plus shares. Further payments funded from revenue. Seems a minimal risk for potential to provide meaningful income, which is the name of the game. The 750bopd figure gives an idea of PGs view of potential production.

Sorry 51%.

It is Carribbean Rex buying, and we have 49%, so it's a JV.

I suspect the geology and oil properties are more a constraint than the theoretical capacity of the pumps.

Just for balance, it was already a producing field, albeit at 5bopd or something equally insignificant. We don't know what the production is currently.