The Future.....3 Jun 2024 11:20
I posted this at the weekend in the hope it would focus everyone's thoughts as to what is in play and at stake for both Predator and the Kingdom of Morocco. It deals with facts, not conjecture, and its statements are from individuals directly involved in the Moroccan programs. Add to this Lonny re-surfacing on X yesterday and you may start to see some of the dots now being joined together. We are at a huge inflection point in proceedings and I think we will very shortly be told the next stage of valuation creation.
I think we can all agree that Morocco oil and gas exploration has now become a very political hot spot, with various companies at the table seeking their pounds worth of the action. Much focus and debate on this board has featured Chariot and particularly Anchois, rightly so, as it has been a core focus for ONHYM over the past few years. Let me give you some statements shared with me which may or may not prove to bare any credence, but nonetheless may get you thinking when considering what is now at play and stake.
- delays have not been caused by operational (other than lead times) or GEOLOGICAL, they are POLITICAL. (Predator)
- ONHYM have invested a lot of PR in Anchois over the past 2 years. (Chariot)
- it should have been flow tested before being classed as commercial. ONHYM did not agree. (Chariot)
- Energean deal then announced and a new well drilled to flow test before FID. (Chariot)
- can't use the two wells as producers. (Chariot)
- separate gas reservoirs were confirmed and need to be tested individually. (Chariot)
- operational and geological risk for next wells. (Chariot)
- pushes out development to first gas by many years. (Chariot)
- ONHYM 'egg on face' (Chariot)
- only near term gas development play (Predator)
- all regulatory leeway being put in place to allow immediate application for Exploitation Concession after testing (Predator)
- Afriquia Gas MOU game changing as part of a group owned by the Prime Minster (Predator)
- all eyes on making sure this doesn't repeat the Anchois PR disaster. (Predator)
So perhaps when you read all the FUD and scaremongering being discussed, just perhaps bear in mind some of the above. For Morocco this isn't just about a few BCF of gas here and there, this is about them as a nation becoming a global provider on the world's hydrocarbon stage. We are talking billions of $'s at stake, there is no room now to mess this up. PG has to now play the cards of his lifetimes work. He will be spinning many plates for sure. Why? Because he knows as do the ONHYM that Predator are sat on so much gas/oil they almost don't know what to do with it. Sure there is risk, and yes it has to flow. Watch this space next few months, I think it could be transformational.