Member Info for InJamesweTrust

Bold

The spend through to end H1'24 included ph.1 testing as well as order for long lead items.

Previous RNS' have stated there is a significant stock of drill equipment warehouse at Guercif.

Actual G&A is I think around $150k a month.

So the 3 months from end June would be $450k G&A plus probably $100-150k a week for Sandjet from start of August (12 weeks from tomorrow) and 4 weeks of Zenith.

If the SJ had not perforated I'm sure the kit and team would have moved to MOU-4- them still being at MOU-3 indicates (to me) there is something to test.

How long does flow take? 4 weeks was mentioned to get a settled flow but Zenith would need time to get on site and read logs/data after appt so probably another 10-14 days beyond Thur should yield answers.

With this are there funds for MOU-5 - it is probably tight but demonstrating potential of MOU-3 and getting a declaration of commerciality may well trigger payment enough to drill several holes across the MOU-5 structure in Q1'25.

If we aren't within those timelines my concern would be heightened.

Marvin

That is a most interesting descriptor for one's self!!

Condolences to the family of whoever this may be and hope the passing was as comfortable as this unfortunate inevitability can be.

Https://www.google.co.uk/search?q=cng+tanker+capacity&sca_esv=987a2e6060705a91&source=hp&ei=DlISZ_b-Gbe5hbIP-4fygA8&oq=cngbtanker+&gs_lp=EhFtb2JpbGUtZ3dzLXdpei1ocCILY25nYnRhbmtlciAqAggBMgcQABiABBgNMgcQABiABBgNMgcQABiABBgNMgcQABiABBgNMgkQABiABBgKGA0yBxAAGIAEGA0yBhAAGA0YHjIIEAAYCBgNGB5IiSxQgAhYhB5wAXgAkAEAmAG_AaAB4QuqAQQwLjExuAEByAEA-AEBmAIMoALJDKgCD8ICEBAAGAMY5QIY6gIYjAMYjwHCAhAQLhgDGOUCGOoCGIwDGI8BwgIOEC4YgAQYsQMYgwEYigXCAgUQLhiABMICDhAAGIAEGLEDGIMBGIoFwgILEAAYgAQYsQMYgwHCAg4QLhiABBixAxjRAxjHAcICCxAuGIAEGLEDGIMBwgIREC4YgAQYsQMY0QMYgwEYxwHCAggQABiABBixA8ICDhAuGIAEGLEDGMcBGK8BwgIREC4YgAQYsQMYxwEYjgUYrwHCAgsQLhiABBjHARivAcICBRAAGIAEwgIHEAAYgAQYCsICDRAuGIAEGMcBGA0YrwHCAggQABiABBiiBJgDC5IHBDEuMTGgB8tG&sclient=mobile-gws-wiz-hp

Keith

Probably less than 5 mins in that case.

That does rather beg the question where does the gas go as I'd hope some has been flowing these past 10-11 weeks.

That's what I'm here to see the results of.

Timing wise with this being the 4th week of Zenith activities one would hope there should be news soon.

I'm sure 4 weeks was mentioned to stabilise flow.....

Hi Keith,

I'd googled and seen tankers could be 4,800m3.

Doesn't need a fleet as some say but not sure this would be the solution. Would you build up.in a tank locally on site and flare within say a container at times considered appropriate with flare stack concealed in a 40ft TEU or something.

You mentioned in pics there is not a big enough flare stack that is visible.

The more technical stuff is clearly not my meter but I'd be surprised when setting up to test if PRD and Baker Hughes hadn't considered what would be done with gas flows in event SJ was successful and the reservoir flows.

Don't know what the solution is mind.

I'm not sure what 300mmcf of gas looks like but I'd say it is pretty significant in terms of storage requirement.

Would also suggest that if wishing not to flare that PRD has a solutuon in place for any gas that is coming to the surface. Not technical enough to say what it is but with shipping container units and other equipment I'm sure it would be easy to contain.

The volume is around 40% of what the Advisors were given for the shares they requested. Haven't been many such block sales so my money is on them or Lonny unless someone else is offloading.

Clearly PG would need to RNS and likely is in a closed period as he has inside info on testing progress. Lonny is probably still an insider as there has not been a testing announcement.

If taking shares as an advisor makes sense to secure some of the value and perhaps leave some for speculative uplift.

Olderandwiser

Not suggesting they shouldn't make sure the field readings are accurate before announcing.

Just saying reading in to the silence is perhaps erroneous as PG is not historically forthcoming even when it's a clusterf@£k

Indeed, when Ph.1 perforation didn't work he said it was only intended to measure minimum extent of formation damage for a phase 2. Quite different from saying before that perforation guns should access some formations.

I paraphrase but as comms go he is belligerent and they would not be accepted at bigger firms.

bold

don't think anyone has ever suggested it is being compressed in to cng bottles. perhaps delivered by truck to industrial partners. who will store on site in volume - if there is gas to deliver.

two credible options as to the compressor(s) being on site - built in redundancy for the sj would be my thoughts given cost of a compressor and cost of unused staff (which we have borne once, possibly several times already). a failed compressor would be a baker hughes cost though and they are sensible enough to have contingency and.not waste money on sj staff cost/drill options going on unused people.

the chatter around lack of info being due to ohnym embargo - the lack of info has been ongoing for years. how long did it take to say testing didn't happen when supposed to, or to tell us about the customs delay after the june sj commencement rns.

same old **** comms

Lancey

Interconnected alone won't solve Ireland's energy issue. They're expensive and rely on a surplus elsewhere to transmit power from one country to another. Inevitably there are surplus power supplies but not enough to sustain Ireland and to build enough interconnects and attached long duration storage (BESS) would be pretty expensive and take several years.

These types of assets will assist in reducing the surplus base load countries need and allow a greater renewables mix to form a substantial part of the gridsupply but it isn't an overnight solution.

Lancey

Interconnected alone won't solve Irel

Also Bob - any thoughts on another 13 months delay?

Bob

My definition of apologetic would be more to be a bit more circumspect in terms of bonus and eagerness to pay themselves for prep of reports when the day job isn't being done properly.

Bob

Just a quick hypothetical, PG originally said SJ ops would be completed Sept '23. We are now at Oct '24 and do not yet have results.

Would you be happy to see another 13 months go by without any results?

Timescales are an important part of business.

It is a bit like the 🚀🚀🚀 that some post, it is more like PG is Driving Miss Daisy sometimes.

We have all been more than patient, alas PG hasn't really been apologetic, willing to explain but remains instead belligerent around timings and the running schedule.

He has posted that it was highly probable there would be 2024 M&A and that it would be Cove++

(back before the June delays in SJ)

Reckon 10/11 weeks left in 2024 so a simple question I'd say.

Not sure anyone else on the positive side has posted anything so definitive.

F&M

I'm focused on this and having made pronouncements publicly just curious if those are something they still stand by.

You seem to have the hotline after all.

Mothers Milk - didn't have you down as a Red Hot Chilli Peppers fan.

Footandmouth

Be great if someone would define soon.

GRH I note has stated 2024 is a surety for monetisation/M&A - wonder if he still considers this the likely timeline.

From prognostications he seems to have been a net buyer in 2024......

Bold

For commercial purposes, if the gas is flowing and management wish to stablise and confirm whatfow rates can be sustained in order for a CNG to be supported that is reasonable.

Only if the market in the shares becomes distorted because news is leaking do their hands become tied and the need to disclose would be more pressing.

Hence as much as I would like to know now and detest the delays we have encountered there is a degree of discretion afforded to management of a business about timing of disclosure.

Lots of arguments again!

For me, it seems Lonny was pushed rather than jumped, then it comes down to why.

For me, it is probably the delays and once the Sandjet was reaching a conclusion and assurance was needed that didn't require Lonny, PG has pulled the trigger.

My own take is they have flowed gas and it is or is close to being commercial for CNG. They are looking to use Zenith to get assurance for 3rd parties and optimise the flow.

KeithOz gave an idea of timelines back in August and indicated 5-6 weeks if I recall. We are close to around 10 weeks with 3 of those being with Zenith on board.

I'd mentioned hoping for news end of October/early Nov on progress and taking a video on the mood music at that point. That would be 6 weeks for testing and 6 weeks for further testing/optimisation/assurance.