Member Info for Jimmy23

Sefton,

You are so wrong.

It appears that other views of predator , both good and bad , you find unwelcome.

Pity, as a these boards are to exchange information and views.

J

MEM.

I certainly hope that your 19 tcf target is reached, although I believe the recent gas volumes are for gas in place and not recoverable gas.

If the ambition is to find big gas volumes, it’s important that derisking should occur as the independant expert assessment of the mou5 chance of success was 12% compared to predators near50% chance of success. Perhaps this has to do with the fact that there are only 6 seismic lines over the structure.

Predator are in a unique situation in having reported 2 meters of high porosity carbonate reservoir in mou4 , a successful flow test of that reservoir would validate source, migration , top seal , for the structure and reservoir permeability for the mou4 well area.

The flow testing of mou4 was previously planned, but I did not see it mentioned in the update , is the plan to just drill mou5 ?

Jimmy

Minnie fox,

I will debate chariot on the chariot LSE board.

Anchois two found 150 meters of reservoir and has been audited and not flow tested, yet.

J

I sold down most of my prd investment for the following reasons. I do not day trade and I respect other investors decision to continue to hold or invest, so these are my reasons.

1. Ceo resigning at a time of potentially transformative flow testing, it’s hard to believe he would have left if everything was going well.

2. Further delays in flow testing results and appointment of expert advisors, indicate to me there are problems and they are looking at potential solutions. As this is the second flow test attempt it increases chance of an equity dilution to drill again.

3. Predator are valued at £51 million , so this already includes a valuation for small cng, so hard to see upside without flow testing mou4 in the carbonates.

4. Prd seem to be focusing on the next big discovery at mou 5 to be drilled. Prd has frequently equity diluted before drilling.

The balance of risk at this time has moved to higher risk and I feel more comfortable investing again after a good flow test at mou4 carbonates.

I wish you all a successful investment and hope your dreams come true.

Jimmy

Old and slow.

The $1 million payment occurs when the production licence gets issued, not a problem at the moment.

I have sold most of my shares , at a small profit, and will buy back in after a successful flow rate of the carbonates at mou 4.

Good luck to all the long term holders.

Jimmy

Zahrab,

Correction.

The rns stated the well has been plugged and abandoned, so my speculation regarding ongoing sampling was incorrect.

It certainly seems strange the rig is still onsite. , I can only speculate that they are thinking of another well.

Jimmy

Hi Zahrab.

It’s certainly unusual for the rig to be on location 7 days later.

There could be a number of explanations.

1. The rig is not booked for its next customer till November.

2. When chariot drilled A2 they took about 10 days to extensively log and sample the well, so that could still be ongoing, remember the results are the initial interpretation.

3. Energean have an option on the rig to drill a second well, so they could be analysing the well and seismic data to decide what to do.

4. Energean may want a gas price guarantee before progressing and waiting on moroccon govt decision.

All speculation on my behalf.

Jimmy

Zahrab.

The contingent well was a precautionary move just in case it’s needed, typically if information from first well indicates an opportunity to drill a second well.

I can only speculate like everybody else.

What we do know is that the anchois east well found gas in the B sands and that the C and M sands were deeper than expected and hence below the gas water contact.

That information will be used to re assess the rest of the prospects.

Jimmy

Stena forth still on location, why?

Surety,

I don’t know energean plans.

Anchois 2 was very extensively sampled , I would think it would make sense to still flow test A2, but they might want to re evaluate all the data before doing that.

Jimmy

Risky business.

Can you reference where the ceo of energean said we are out , as all I heard was we are going to evaluate all the technical data and then review. He also said the gas volumes are less than they expected and that development depends on the gas price that the moroccon govt will guarantee.

Jimmy

Hi Norseman,

The $85 milllion carry covered the licence and they will have spent a very small amount to date.

What we do now know is that fault bound prospects are higher risk, most likely due to basin inversion.

In addition, we now know that seismic Avo cannot distinguish residual gas volumes in reservoirs from reservoir gas.

It appears that four way dip anticlines appear to work such as in the B sands.

The whole licence needs to be remapped to learn where the big gas is now. Energean will not walk away from the licence without doing this.

Jimmy

Zehra,

I estimate reserves at circa 450 bcf now.

A sand gas bearing anchois 1 and 2

B sand anchois 1,2, 3 gas bearing

C and m sands anchois 2 gas bearing

If the gas price is right it might still work.

Jimmy

What did GRH say on x

Shagged,

The rns of the 7th august says the rigless testing had commenced .

Any delays occurred before that date.

J

Legalwolf.

I read the rns as saying that the B sands are gas bearing, I did not see where they said the b sands came in lower than prognosis, and if they did come in lower , we know they are gas bearing, as it’s in the rns, so that’s good news either way.

Jimmy

Zahrab.

I did not read the enog comments the way you interpreted. I believe the A 3 being less than expected referenced the O sand footwall as being water wet .

Hi bold,

The sands are turbidite sands so usually high porosity and permeability, but yes, the final proof is in the flow testing, which I believe will exceed investors expectations.

Jimmy

Ok, just for reference the gross sand thickness for the B sands in anchois 2 was 105 meters with a net reservoir of approx 54 meters , some of which had water. So as we should be updip from anchois 2 so should all be gas and if there are 200 gross meters , as reported , and the ratio is approximately the same then we could have nearly double the reservoir thickness and its gas bearing. All back of the envelope if that 200 meters report is correct, might make up for the O sand footwall being in water.

Jimmy

Hi bold.

I read the article and it does say 200 meters gross, and at that time the well had only drilled the b sands . I need to check the last anchois well results for b sand gross and net thickness,

We know there are three B. Sands so I suspect it may be better, but not sure yet. The good news is that chariot report them as gas bearing so we are still good for a development in my opinion.

Jimmy