GRH - for those serious investors7 Jul 2021 10:06
There has been a lot of mud slinging over the past 24 hours, since yesterdays RNS. Some of this has been directed at GRH, which if anyone had bothered to read his posts and do some due diligence, they may actually learn something.
I have known GRH for over 10 years, we both went through the GKP journey and when I say he called it spot on, he absolutely did. His knowledge, experience and contacts in E&P are second to none and he is one of the only posters to share his thoughts and articulate with proper research. Coupled with the fact he is a genuinely decent chap.
I have been slightly later to the PRD journey, but nonetheless have built up a 6 figure holding and took the opportunity to buy more yesterday. GRH has strongly suggested to everyone to read the 60 page CPR, most wont because guess what they want others to do so and quite simply cant be bothered. There are more clues in here as to what appears to be going on.
GRH and I discussed this yesterday. Here is an extract (for free) from the CPR - "A re-examination of the wireline logs by TransAtlantic in wells with Miocene and UpperJurassic sands suggested that several gas sands may have been missed in these wells."
Now put two and two together yes it makes 4. What if MOU1 has now encountered these sands? Encountered them in such a way that drilling MOU2 would seem a bit pointless, and in fact it makes sense to just go straight for MOU4. MOU4 then targets the 'mother load' of pay.
You have to read between the lines and make judgements about yesterdays announcement. There is a reason why MOU4 was mentioned as the next target, and I am sure that PG will now want to fast track matters, because they know more than they are saying.
The market hasn't got this and for anyone quoting the words duster, I suggest they read up on the E&P terminology, because MOU1 was simply not.
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