Member Info for InJamesweTrust

A fine football brain and very clever generally, much underestimated by the establishment. Keep meaning to watch The Damned United.

Good clip below of one of his players putting Viera and Cannovaro in their places as they look down their noses at him as did the odious Adrian Chiles

https://x.com/TheFootbaIlHub/status/1839244523114999912?s=08

I doubt Mr Boldy was inundated with offers and as far as independence goes I doubt he is a siren voice to curtail any of the treat the company as my own tendencies of PG.

PG also has quite a lot to gain from Corrib coming to fruition. Useful to see 1P/2P in the Guercif licence or at least a timeline for when we might see that.

Many of is could throw out names from our past and suggestively hint they are about to take a stake/buy out the CNG.

Handier if GRH attaches a degree of certainty to such outcomes. Confirms if intros have been made. He did mention not being privy to the testing results so is less likely to be inside regarding MNPI.

GRH mentioned Steve Denning a number of times back in March when many hoped testing was taking place and around the time PG said O&G valuations wete not rationally represented by the London markets.

Alas it has taken some time to get to a point where date may be available if testing has progressed successfully to allow confirmation of commerciality for the GSA and perhaps an outfit like Gen Atlantic may wish to take an equity participation in PRD to fund CNG and drilling/testing of MOU-5 or to take some/all of the GSA and contract with Afriquia Gaz for a consideration.

@keith

Their efforts at reporting and trying to get the right technical help in once Linde walked away were laughable. Banks signed up to it literally months before the invasion when Putin was already sabre rattling it was astonishing!

Between this and the Mozambique LNG beset by terrorism it was quite interesting writing Credit papers.

Good to look on the bright side of what it gave you though as always best to find the silver lining.

Keith

The AMUR plant is a huge undertaking, with sanctions also now a huge nightmare for many of the funders also. So many linked entities being sanctioned. The fire wasn't hugely damaging but this and loss of key contractors have caused alot of delays and headaches.

For the IM Gazprom was showing $25bn per year EBITDA - about the cost of the plant and pipeline.

I'm sure this would make for a Merry Christmas for many if it all goes to plan.

Would be useful to have an update sometime between now and 13 weeks away - I wonder if MOU-3 outcomes will be confirmed with interim and more meat on bones around next steps while the SV-101 may move to being working on MOU-5 and perhaps 1,2&4 also between now and then.

Mentioned last night the Lonny announcement may be as a result of some of the missed timescales for testing and challenges of steering the in country adminsitrative requirements. However, perhaps in light of other achievements PG while making a point is tha king Lonny for his contribution and making him a good leaver having made his point.

Seems PG has decided this is the next step for PRD and seems to be to independently validate flows and/or confirm how the field development plan for CNG and perhaps beyond would work as they look to monetize.

Fwiw my belief is lack of flow would have been known some weeks ago. Zenith seem to be coming in to prove commerciality and ratify next steps. Lonny isn't needed for this and he perhaps has taken the mis-steps alluded to above (although we don't know) so Paul has made a point with the two distinct RNS announcements.

If indeed this is the case then it is likely Zenith will confirm flow is sufficient to trigger a payment under the GSA that allows a couple of drills to be undertaken to prove up MOU-5 once flow testing is done at MOU-4.

Imagine interims will have some info depending how soon they are published and how quickly Zenith cam help OHNYM/AG get comfortable with testing results.

Just conjecture on my part but that is my read.

Thinking on the announcement, as country manager for Morocco there have been a few hiccups in the last year or so that the BoD has copped flak for.

Delayed extension, delays in licences and aligning samdjet with rig availability and increased customs timeframes extending testing windows.

Perhaps, as MOU-3 reaches a conclusion in testing and analysis it us a sensible time for Lonny to step aside.

I'd say failure to update on Sandjet for MOU-3 when interim are released would be highly questionable. That means with two weeks as RNS states interim to be released later this month.

Wonder if there is movement from MOU-3 to MOU-4 this week and Lonny wants results published as suggested by the RNS while PG wants to go to MOU-4.

It's hard to think how it spins positively.

I know PG likes the idea of not giving timelines and dislikes shorters but hard to think of this as part of his strategy against such.

From an RNS perspective think they need to provide some clarity.

Certain loud voices are conspicuously quiet.

That's what's Consetvative MPs used to say in the 80s and 90s after having a dabble with the nanny or pool boy.

There isn't a quote from Lonny so would suggest the new comms company hasn't done the bang up job many would hope for.

Interested to see how some might try to spin it but it is hard to see how it isn't negative.

If Lonny thinks something needs to be RNS'd then how does he get that out.

Certainly a surprise move and hard to think of anything positive that could be taken from such a move.

The interim confirmed as being published later this month and hard to imagine they can be published without confirmation of what has happened with testing.

I'd expect there to be more clarification before the interim though, even in course of today.

AV

Many here have looked at the drill results to date and the company presentations and invested or not accordingly. Most understand the risk reward and that for O&G some risks are present until you confirm flows. That is what they now seek to do.

You haven't suggested why you think the 17 zones targeted will not prove flow or given much of an argument to the contrary just shouted about the likelihood of losing money with little substance.

AV

Baker Hughes is a $33bn MCAP company sp think they know what is needed to.perform SJ.

If the kit works why try to redesign it I'm not interested in how it looks just if it performs the job required of it.

Agree they could be better but there is also the potential to make themselves a hostage to fortune.

Bold

The satellite makes regular passes for a few minutes once or twice a week so would be predictable and the signature could be avoided.

Porters

The wording of the 5th June is to state operations commencing (which given what we know now were weasel words to buy time but the 7th Aug RNS states Rigless Testing has commenced. So I think there is little doubt.

Porters

The RNS which is a regulated statement on 7th August clearly states Rigless Testing has commenced, not rigless testing ops but rigless testing.

For 17 zones if the SJ was being done and no flows then a day per zone would be sufficient one would think to realise it could not be perforated, hence this would have been known around 2.5-3 weeks ago depending on clean up of well.

The BoD stated they would confirm results only when MOU-3 testing I complete and not before.

The estate from KeithOz of 5 weeks takes us to interim which I'm sure the BoD was aware of too.

Think it would be fair to expect news next week or when interim are produced probably soon afterwards.

So I'd suggest at least some zones have been perforated and that gas shows from drilling have, or are being assessed for flows in line with parameters potential partners may have laid down.

There are more and more of these cropping up. Have one of those on construction as a deal I look after now - the Interconnector technology is interesting and cables are becoming capable of carrying more power.

Ibiza

Morocco will get 25% of the revenue from any commercial production of gas. They don't have a right to the gas but Ohnym would award production licences so we would work with our in-country partners.

There will be royalties payable too I'd think (not checking exact terms as on my phone.

So if we find 50mmcf/d then think c.37.5m net to PRD.

People gave posted on 19 Aug about values of flow rates net to PRD so this may give you an idea.