Member Info for Jimmy23

Tritore, live I hope.

Do you really want predator to taken on another project in another country.

J

I hope they just focus on Morocco, it’s been demanding enough for such a small team to get wells sand jet flow tested without another project to focus their attention on.

I hope this is not a Bait and Switch as they say in USA.

Jimmy

Boris,

It would be great if they had flow tested successfully, but I suspect not, as they previously stated that they would update the market when all consents and approvals for sand jet peroration are in place , which has yet to happen.

J

It would be great if mou 4 was flow tested so that we know what’s been found for certain.

Drilling up dip at mou 5 is highly likely to find gas. The questions is how much of the jurrasic carbonates are of reservoir quality and their lateral extent.

I am expecting predator to drill mou 5 , equity fundraise on the results and then sand jet perforation.

I would prefer if it was the other way round, others will have different opinions which is fine.

Jimmy

The size of the flow rate at dartois will be mostly dependant on the thickness of the net gas bearing reservoirs. Other wells in the area encountered circa 2 to 4 meters which flowed at around 5 mmcf per day, which is what auctus previously based its flow rates. Chariot found a gross reservoir of 70 meters, we do not know the net reservoir yet as the logs need interpretation , but this is likely to be a lot bigger than the market is expecting.

Jimmy

Brv,

You will note that the £5 million of liabilities are classified as current liabilities in the audited accounts , so it must be predators intention to discharge those liabilities in 2024.

They will be best place to discharge those liabilities after successful drilling mou 5 and sand jet flow testing.

I just hope that sand jet perforation does not get postponed again in favour of more drilling.

Jimmy

Hi surfit,

The ten year tax free period starts from first production of each production concession licence. So it’s likely each onshore prospect is a separate production licence if successful.

Great summary Brv.

I would just add that there are £5 million of current liabilities on the balance sheet as at 31 dec 23 as detailed in note 15 in the accounts. In addition, the annual report indicates that it is planned to acquire 200 km 2 of 3D seismic in q4 2024.

I expect prd will be looking for a great result from mou5 to secure additional funding for such requirements.

Jimmy

Fernan,

Great comparison work.

The fact that chariot did not announce the net thickness of the gas sands indicates they had not completed the log analysis work. Since this was announced in the moroccon press, a positive sign, they were forced to release the initial rns.

It’s particularly important that they noted that no water was found in the well.

Expect a further rns with more positive details.

Jimmy

Dickienichols,

Can you explain what additional information you have regarding the jurrasic prospect that was not known to the independent technical reporter.

J

Micktrick.

The $16 mcf is the gross price of gas in the retail market that chariots partner vivo will sell into, not the net back.

J

Harry.

If you go to the predator website and look through old presentations you will see the very attractive economics of compressed natural gas, the capex for chariot will be funded by vivo, in exchange for a lower gas price which is currently $16 mcf in morroco at the moment.

Jimmy

Nigel,

I think the unconventional gas was an old prd reference to the presence of biogenic source rocks in mou 1 well, since then they have found biogenic gas in shallow reservoirs in mou 3 and mou 4 but have yet to flow test them.

J

Harry,

The analysis you quote is seriously flawed and wrong.

Jimmy

Keith,

Thank you for your clarification of your comments.

With regard to information from chariot that could be of use to predator, I noted that chariot used a slimline drilling hole which was not only cheaper and quicker than standard well bore but it also appears to reduce the problem of mud weight invasion of reservoirs.

Perhaps that’s something for prd to think about.

Jimmy

Despite the share price the gas discovery news is far better than expected.

Chariot had expected 5 mmcf per day from each of two prospects .

The average flow rate onshore in the rharb basin is 1.1 mmcf per day per meter, so approximately 4.5 meters of reservoir were expected.

For comparison see page 14 of the corporate presentation which shows the flow rate of 40. Mmmcf per day from 33 meters of net pay.

Chariot reported 70 meters of gross reservoir and the average net to gross is 60% so let’s say 50% results in 35 meters of reservoir, being 7.7x bigger than expected..

Strong buy on technical fundamentals value.

Jimmy

Lesley,

There was clearly a leek , so the move from Thursday to the last price to day at 9.5 p is nearly 20%, a good start on the long road to the brokers valuation of 50p.

Jimmy

Sefton,

I am an investor in both chariot and prd.

I would not like to see the companies merge as they have very different overall strategies.

Despite comments by others I see no reason for chariot to undermine prd as there is plenty of room in the gas pipeline for all parties drilling for gas in Morocco.

Jimmy

Production tubing cemented in place and Christmas tree installed.

That’s a discovery.

Jimmy

Should read, the onshore gas retail buyer, vivo,

J