Member Info for highlandmatt

PageofCups - Really? First bullet of last RNS. Mou4 completed for rigless testing.

Porosity is shown on the strip log for Mou2, which is published on the PRD website. Hardly hiding it. Mou1 data has been released in presentations. I'm at work, so haven't time, but if you are that worried, suggest you search all the presentations for the Mou1 logs (usually in an appendix at the back). I'm not aware of it being released for Mou3 yet, but I was in the Alps when those results came out.

Need to plan the testing in light of Mou4. That takes time. Then the provider has to quote. There might then be some refinement. Then the ministry needs to agree.

Is release of porosity usual? Other companies I hold just seem to release depth, thickness of sands, net pay, then flow rates / API when available.

Early, SpArmada - some data takes time to achieve (see Mou1). PRD already published a lot more technical info than other companies (I.e. well logs). The company cannot give info to one shareholder only, just because they request it, as that is an unfair advantage - everyone needs to be told at the same time.

The pipeline is sized for 200 mmcfd.

So, as a rough guide, multiply the CPR by 2.5 as a conservative estimate. This is more than the doubling that Mou3 indicated. We are now looking at some very large structures.

Sorry, 'last time, not 'previously'. As an excuse, I'm on my phone.

Are you judging an RNS on the SP reaction or the news it contains? When you say 'previously', do mean Mou1, which proved up hundreds of bcf of contingent resources?

1. Chariot is targeting a New licence with small volumes of gas. This rules out Guercif.

2. PRD cannot afford to get involved in Anchois and has no need.

3. PRD has its hands full with Guercif.

4. The only link I can see is PRD is trailblazing and CHAR wants to copy, but the metrics are not as good (as PG snaffled the prime acreage).

Hi Jimmy, I joined Chariot after Anchois 2, so might have missed some of the exploration detail. I'm not aware of Anchois being flow tested, but were samples taken? I ask as CHAR seems to have received multiple offers without flow testing. The value of those offers is another matter however. As we've said, the more info / data / evidence the better for the negotiation.

I'm sure Graham and others have more experience of this than I, but my approach to any negotiation (or sell decision), is that preparation, research and analysis are key. You want as much info as possible, to be better prepared than the other party, with options and no room for doubts. An updated CPR gives us that.

Hi Graham, I think folk had trouble believing that a broker couldn't get a price to sell PRD, and therefore categorised it as FUD. Of course, the broker could have a technical issue.

Is that a name drop or a 'mike' drop?!

Hi Master82. Short answer - No. PRD only raises what it immediately needs, so has enough to drill and test. CNG production would be another few million. It is anticipated that there will be some form of deal / corporate transaction after testing but before production.

Https://media.moneyam.com/a/2023/07/4-Touchstone-Exploration.pdf

Just think, some of us were buying TXP when it was producing twice that (1600bopd) and a mcap of £15m!

Coincidentally, I watched Deepwater Horizon again last night and thought of Piper Alpha. A reminder of the dangers of high pressure gas, that I'm and happy for PRD to take their time and do the job safely.

"Royston taking their time as 2,000 ft of sands to test on extended testing, they want to get it right rather than please the market for quick news."

Absolutely Corpse. I've just finished watching Deepwater Horizon again. Happy for TXP to take the time to do the job safely.

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