Member Info for Jimmy23

Sefton,

Your analysis of my comments are deeply flawed. I am invested here based on the sand jet perforation plan and cng production cashflow.

I saw that as a good plan to get to cashflow asap and avoid the small oil company cycle of pump and dump.

I am not connected with any other oil company either directly or indirectly and I post only my own views and I am not acting in concert with others.

It’s a pity you can’t see that a variety of views are important.

I don’t take any notice of the troll accusations, must be trump supporters in my view.

Jimmy

M.robb.

I invested based on contingent resources and nuetech analysis that seemed to support a plan to sand jet perforation leading to cng production to generate cashflow.

Early cashflow expectation is why I invested so that production cashflow would fund an ongoing exploration and appraisal which the area needs.

I further invested after mou 3 expecting a rapid route to sand jet perforation and flow testing. Which still has not happened.

The annual report summarises the well results and the striking thing I noticed was that each well suffered probable or possible reservoir damage.

I am concerned that sand jet will be postponed again , hence my frustration.

All the contingent resources require confirmation by flow testing so that’s where I see the fastest route to cashflow to avoid what will otherwise be ongoing equity dilution.

Jimmy

M.Robb,

I am about to go into a meeting, so will answer your question to night.

J

Madman rob.

On 13th July 2023 pg stated in an Rns.

“ Rigless testing of the Jurassic interval will be an important step in evaluating the significant Jurassic potential within our core area of interest."

Now, nearly a year later, after mou 4 completion, no rigless testing.

It’s not trolling to point this out, just expecting shareholders, of which I am one, to believe that what is stated as important will in fact occur in a timely manner.

Jimmy

Sandy,

The rns referenced below, stated that the sand jet time frame will be updated.

See.

https://www.lse.co.uk/rns/PRD/phase-1-rigless-testing-update-z1sbyy740kkwoad.html

Jimmy

Donal,

I am invested in both chariot and predator, who have very different styles of operation.

I believe in the geology of both areas.

With regard to the drilling of the chariot slim hole at circa half the cost of a standard well , it has found gas and has not reported any reservoir damage , unlike prd which has reported reservoir damage in each of its four wells.

I did point out the flow rate from a slim hole would be lower, but can be increased by drilling a second hole at the same overall cost as a standard well .

The point I have been making is that a 70 meter gross reservoir is blood good for the rharb basin .

Chariot say they will flow test in q3 , which is a few short months since drilling completion, as is common for the rharb basin, whereas predator are still looking to perforate successfully and flow test after about two years.

I believe it’s right to highlight if companies do not do what they say they will do in the timeframe they specify.

I am looking for success in both companies, one company is far better at communication with its shareholders.

Jimmy

Donal,

I don’t actually know the diameter of the dartois slim hole, I just know that it was drilled in about half the time originally expected, so without any evidence I am guessing it’s half the standard diameter.

I have not run the numbers as there are so many details I don’t have, I am guessing half the average flow rate of other wells, which can be doubled with a second cheap slim hole.

Jimmy

Micktrick,

Those are gross revenues , so 25% for onhym and 5%?royalty less opex , still a very nice earner.

J

Mk111,

I have become more concerned lately because prd is not doing what it said they would in the time frame they advised shareholders.

I invested because of the sand jet strategy and have suffered two fundraisers dilution and a delay of nearly two years, so I have been patient , and I worry about more delays and more dilution.

The licence extension issue is really importan. The original licence terms provided that the second stage of the licence would require the drilling of a well to the Jurassic and the acquisition of 200km2 of 3 d seismic. My reading of the situation is that the bank guarantee for such was maintained at $1.5 million, provided that the well to be drilled in stage 2 of the licence was drilled in stage 1 extension instead. If the licence extension expires to morrow, then this increases the risk of a higher bank guarantee to drill the stage 2 well obligation, which predator does not have, so increases the risk of an equity fundraise.

So yes, I am more anxious than previously because delays usually mean more money needed.

This is why it’s important to keep shareholders informed if previous rns announcements are no longer valid. Usually an experienced chairman knows that.

Jimmy

Https://www.lse.co.uk/rns/PRD/extension-of-2022-star-valley-rig-101-contract-puanjf7gj2af2wf.html

James,

Please the feb 24 rns which stated, rig contract extended and drilling to occur in April or may, now June and no update.!

That’s not a way to treat shareholders.

Jimmy

James,

Do you think that leaving commercial negotiations for a rig and or sand jet to the last minute is a good position to be in?

J

Mick,

Firstly the strong adverse reaction by some posters to my posts, I have been accused of being a paid deramper, when in fact I am just expecting prd to do what they told shareholders and investors they would do.

Finally, the comments by lonny regarding parties in Morocco interfering with their supply lines I interpret as being directed at chariot who secured a rig ahead of predator.

In addition, there are numerous posts about unnamed parties looking to adversley comment about predator .

I post as I see things, and I am not impressed by promises of sand jet perforation which has yet to occur after so long.

I respect detailed factual posts based on data .

The last information we had was that licence extension number four was to 5th June during which licence extension mou5 would be drilled and sandjet perforation would occur.

It does not look like either has happened or perhaps the licence extension was to a later date, but you would think it would be proper for prd to let its shareholders know what the current status is.

Company brokers should be advising prd on such matters.

J

Average flow rates per net meter in the rharb basin are detailed here.

https://www.reddit.com/r/PredatorOilandGasPRD/comments/t8ssg0/mou1_the_rharb_basin_net_pay_vs_well_flow_rate/?utm_source=share&utm_medium=web2x&context=3

Average flow rate at least 1.1 mmcf per day per meter.

Chariot recently reported 70 meters of gross sand reservoir in the last well.

Net to gross ratio at anchois is 60% and in mou 1 in predators acreage is 27 % so a range from 17 meters to 42 meters is likely for chariot.

Jimmy

The last news regarding the licence extension date was that it expired to morrow.

Will we get a company update to morrow?

J

Nick,

The lng terminal is to import lng and re gasify it for the local market.

Jimmy

Andy,

Predator has been waiting nearly three years to perform sand jet perforation to flow test its wells onshore.

I am invested in both predator and chariot for different reasons, but a lot of LSE predator posters seem to believe that chariot is undermining them. As usual no evidence presented , predator just needs to do what it says when it says.

Chariot seems to have overcome the risk of mud invasion of reservoirs by drilling a slim hole, predator need to demonstrate it can resolve its reservoir damage issues by sand jet perforation.

I like the predator sand jet idea which is why I invested , but deeply frustrated it’s taking so long.

Jimmy

Hi Brv,

I have previously posted that I expect mou5 to find gas, we just do not know how much.

With regard to drilling with overweight mud, it seems like the carbonates in mou 4 also encountered mud invasion as per the annual report, so the mud weight issue was encountered in four wells , so let’s hope they have learnt how to deal with it.

You are correct that they are funded for the drilling of mou 5 , but I expect the coffers will be nearly empty after such drilling, so it will be a matter of timing as to when an equity raise occurs, I am hoping that it will be post mou5 , but based on past performance pg likes to equity raise before drilling, so we will just have to wait and see.

There has be no news of sand jet peroration, still waiting like all investors.

Jimmy

Jasper,

I think what will be transformational if they drill mou 5 and find 240 meters of high porosity carbonate reservoirs which are gas bearing, and drilled without further equity dilution and reservoir damage which has occurred in each of the mou wells drilled to date.

Jimmy

Mr g,

It’s an old tradition on the chariot board to mark a 10% + day , it would be nice to see it on prd also, not sure if investors want to mark such events here.

J