Member Info for Jimmy23

That’s a good point surfit,

The anchois is most likely profitable at the market forward price for 2027. The key issue to unlock the project finance is to have a guaranteed offtake price during the project payback period of 2 to 3 years. This is where a state guarantee could work and save Morocco a lot of money from building an lng regassification plant, save on balance of payments and have a reliable domestic supply.

J

Sygmaa.

Unfortunately in this part of morroco, the source rocks are above the jurrasic, so very challenging to get oil to migrate downwards.

J

F&m

Perhaps you should post those comments on the chariot board.

For a correct comparison , how much has pg spent on exploration since 2007, and how much of his own money has he invested compared to the salary and fees he has received.

J

Before you go into negotiation, make sure that all licences obligations have been satisfied or been waived by the authorities, otherwise a farm in party waits for a licence to pass its extension date and apply for the licence themselves.

Licence data then becomes non confidential after two years after licence lapse.

All data has a value but the more certainty the higher value. A gas discovery, such as that declared by onhym has more value than a prospect.

J

Obadiah,

I hold shares but sold most after Lonny tweeted “where is the gas” so my shares fortunately have a net cost of nil, which I hold as in case prd get lucky with mou6.

Mou6 is to verify if the shallow zones in mou3 which reported a high gas kick during drilling, were not wireline logged and failed to flow gas after recent perforation, does in fact contain moveable gas. Mou6 is exploration risk drilling in my view and my shareholding reflect that.

It’s deeply disappointing that your approach to prd requesting clarification of the Morocco licence extension expiry date was not answered. There is no mention of the Morocco licence situation in the last presentation and the website is inconsistent with the annual report . There are investors on this board who genuinely believe that the licence expiry is 6november 2026 and others who believe it’s 6th March 2026. In my view ,this inconsistency warrants clarification by prd and a failure to promptly clarify this situation may create a false market in the company shares, for which Directors have a personal responsibility to avoid false markets.

J

Obadiah,

You forgot to also quote from the annual report issued on 15 April

“ Depending on the results of mou5 well, the group may seek an extension of the First Extension Period by 8 months to 5th November 2026 to provide additional time to submit a possible application for an Exploitation Concession over the area tested by mou1,2, 3 and 4”

No gas has flowed so any contingent gas is not yet proven so there is no basis to get an Exploitation Concession.

Now 7 months since the annual report and no news on a licence extension.

J

Old and slow,

The difference between the gas discoveries mentioned by Keith and the guercif wells is that typically other gas discoveries are validated by conventional wireline log interpretation and frequently supported by extensive gas pressure readings and sampling and sidewall cores . Those techniques were not reported as being used at guercif.

That’s why the farm out will be more challenging than some think.

J

Hi dickienicholls,

Based on what prd have explained the reasons the wellheads were left on were as follows.

1. Mou 1, to flow test by way of sand jet perforation, no flowing has occurred.

2. Mou2 , initially left in place in order to complete the drilling and logging of the well to its original target depth with a new mud system that would not react with the reservoir rocks. Still not done.

3. Mou3 , to allow for flow testing, two attempts made , no flow achieved. Currently well shut in to allow pressure build up , no pressure build yet reported after several months.

4. Mou4 , suspended with well head to allow for testing of two meters of jurrasic carbonates. Has not occurred and was not included in last work plan.

5. Mou5, well suspended to allow for deepening of well to test a deeper Triassic prospect at a later date. Triassic prospect not yet mapped and may need 3D seismic due to the presence of salt which distorts prospect mapping.

The last presentation was interesting because it now references the nuetech interpreted logs . But theses logs were referenced in the ITr as being probable gas subject to validation by flow testing. At about 48 minutes into the pg presentation he explains that conventional wireline log analysis did not identify gas but the nuetech log analysis did.

So which log analysis is correct?

Jimmy

PP,

Do you not consider it reasonable to raise a question regarding the licence extension expiry date in early March 2026, particularly since prd has not met the licence obligation to shoot 3D seismic ?

Is this why prd are looking to pivot to South America?

J or Jimmy

Ibiza

Will you apologise then if the share price is not greater than 25 p by 1st June 2025.

Still no reply from the super rampers about licence extension date of March 2025.

I wonder why ?

J

So donal, do you believe the licence extension is to March 2026 or not.

J

Paretoprinciple.

Seems like you can’t play the ball

If you have a comment on chariot post on the chariot board.

Looks like I am right

J

Burin,

Perhaps GRH or F&m or Keith can advise based on their detailed study of prd when does the licence extension period expire?

Their silence speaks volumes.

Jimmy

Teardrop

What I believe happened is that the annual report was prepared months earlier when the table you referenced was correct and then subsequent t events were listed in chronological order but the table did not get updated for the revised shorter licence extension period as per the last statement on the matter in the annual report.

This could happen in a one man company.

J

Teardrop.

I agree with you that the annual report is inconsistent and confusing, but the chronology of the licence events concludes with the statement I quoted.

As it’s the last statement on the matter I believe that 5th March 2026 date is the relevant date.

A company that’s got a full list on the London stock exchange should have greater clarity on the matter.

Perhaps you should ask the company pr firm to confirm what the current licence extension expiry date is?

J

Teardrop

Yes at one stage the licence was extended to November 2026 but was then reduced to March 2026 as confirmed in the last sentence I quoted from the annual report issued in April 2025 .

Jimmy

Teardrop.

Thank you for explaining your thinking on the licence extension expiry date.

However, the last sentence in the annual report issued on 15 April 2025 states.

“Depending on the results of the proposed mou5 well the Group may seek an extension of the First Extension Period by 8 months to November 2026 to provide additional time to submit a possible application for an Exploitation Concession over the area tested by mou1,mou2, mou3 mou4.”

Mou 5 was a dry hole and no gas has flowed from the other wells. There has been no announcement of an extension to the 5th March licence date.

I do feel that prd should urgently update its website so that investors are not misled.

Jimmy

F&m

Pity you can’t play the ball .

I must have said something that’s correct so.

J

Teardrop.

The annual report was issued on 15 April 2025 and since then there has been no rns updating the licence extension date to 5th March 2026, please advise of the date of such an announcement as I could not find it.

Jimmy

Teardrop.

The website is not up to date.

The nov date was reduced to 5th March as per page 26 of the 2024 annual report.

Jimmy