Member Info for Jimmy23

The statement in the Itr of the 3D seismic licence commitment, “to be replaced by two wells” .

Has that actually occurred yet.

Just a question of fact.

J

Statement of fact gkp did not drill five wells instead of acid application five times.

So sad you can’t argue the facts.

J

Did not drill five more wells

Interesting telling of the gkp story.

They had to apply acid 5 times to get a flow, note they did drill five more wells to try to get a flow.

Jimmy

Keith.

As has been posted here many times, the licence is onshore and in relatively close proximity to a major pipeline and is located in a country which imports nearly all its gas at present. So the commercial risk in my opinion is relatively low, it’s the risk that will the reservoirs flow commercial quantities of gas. To date there have been three seperately perforation using three different perforation tools covering multiple reservoir intervals and none have worked, so far.

In the recent presentation, I believe pg explained that conventional log analysis does not show hydrocarbons due to the thin reservoir intervals and the mineralogy of the rocks around the reservoirs, which makes conventional log analysis a challenge. Pg is relying on the nuetech analysis of the logs. A previous ITR reported that nuetech state that the log analysis is probably gas and is subject to validation by flow testing.

So far no gas has flowed, hence that is why in my opinion this is still very much exploration risk and why the share price does not reflect a major gas discovery.

Could that also be the reason that Directors have not been buying shares in the market?

Jimmy

Page 11 of the last presentation states

Net 2C contingent resources 411 bcf, but it also states it’s a 25 % chance of success.

So similar to exploration risk.

J

Yes, it’s a resource, a prospective resource, so it’s exploration risk.

J

I have reviewed the pg presentation and have the following observations.

1. There are 26 pages in the main part of the presentation , plus a series of technical appendices. There is one page of the 26 devoted to Morocco.

2. No update on swabbing mou3 or indeed the pressure buildup in mou3 shallow sands.

3. No update on mou4 particularly after raising funds to flow test it, no mention of when or if.

4. Mou fan reservoir still list contingent resources, but now ascribes a 25% chance of success.

5. Triassic potential described, but no Triassic reservoir encountered previously in the licence and hence reservoir in the licence not known. The presence of salt will require that 3D seismic to map correctly. Previous technical report stated that source rock was from the younger jurrasic , usually above the Triassic, so migration into Triassic will be challenging.

6. The introduction of new potential licence in South America may indicate another pivot.

7. The shallow gas potential in mou6 was stated at 25 mmcf per day, I would have thought that the presentation would have heavily focused on that.

I expect another fundraise before mou6 , “to strengthen the balance sheet”.

Jimmy

F &M

Why is that long term holders like you do not correct do not correct posts that are blatantly factually false such as mou5 being a gas discovery, no comment, no correction despite an Rns saying no natural gas was found.

Full credit to DonalB for politely printing out that such a post was based on a false Ai analysis that gas was found in mou5.

Try and play the ball.

J

My main problem. Is that prd raise funds for specified purposes but then do not proceed as indicated, eg, swabb mou 3, test mou 4, etc.

J

Interesting that anchois is mentioned.

https://en.7news.ma/morocco-bets-big-on-natural-gas-as-a-strategic-power-play/?amp=1

Jimmy

F&m

Maybe you should have listened to Lonny when he posted “where is the gas “

I did and managed to sell nearly all my shares at over 9p

J

Surfit,

Great analysis.

I would add that when repsol withdrew from anchois all those years ago, that Morocco was importing gas from Algeria at circa $2 mcf so developing a medium sized offshore discovery in Morocco was not viable at that time.

The end user price for moroccon gas is now $17 mcf, and lng gas imported from Spain is probably at circa $12 mcf, which should make anchois economical.

J

Hi Keith.

Thank you for your comments regarding the Triassic potential of the guercif licence area.

Pg has stated that 3D is needed because of the salt zone unexpectedly discovered in mou5.

However, additional Triassic information was included in the independant technical report of January 2024 as follows.

1. Triassic reservoir potential is in the south east of the licence only, page 17,

2.a prospect near taffrata is shown on page 40, but only has three seismic lines of coverage.

3. The Triassic Tagi sands are only expected on the basin flanks where sands have potential preserved porosity ( porosity lost during deep burial in the basin centre ) page51.

4. The Triassic prospects are dependant on lateral charge from younger Jurassic source rocks juxtaposed across large basin bounding faults which formed during rifting prior to development of the main Miocene basin.

J

Dsam55

The interim results published on 25 sept 2025 states

“ Gas chromatograph data and wireline logs do not show evidence of the presence of hydrocarbons. The helium chromatographic registered a show at the base of the mobilised salt at a potential fault plane based on post-well seismic interpretation.”

I think you may not be up to date.

J

Ddsam55

I have just re read the preliminary results for mou5 and I cannot find any mention of high resistivity in the logs.

Furthermore the final mou5 results published in the interim report did not report any natural gas shows in the well or logged high resistivity.

Can you kindly provide the official source of your information.

Thank you

J

If the mou 1 to 5 wells were drilled to fail , as per the hypothesis, then surely the directors would now be purchasing shares in the market.

Indeed when was the last time pg bought shares in the market?

Have pg and Lonny been repaid their loan at 10% interest , to be repaid at a time when Morocco gas flows or Trinidad exceeds a daily production threshold. ?

In my view such loan repayments will be financed by way of a further equity raise.

J

Wouldn’t it have been better if mou1 had been flow tested and then they would have found out if there was an overweight drilling mud problem before drilling a further four wells none of which flowed gas.

J

The issue for barryroe oil is that it has a high wax point so that it goes solid at ambient temprature and so it either needs chemical or heat treatment to stay liquid for transportation. However it also has a high gas saturations which will exolve as it nears the surface and would be a good source of gas if they could get it to shore.

The reservoir are thin sands below seismic resolution in an inverted basin, the seven heads gas field above suffered from compartmentalisation. Pg will be familiar with all that.

J

At long last that’s an official boom of a close.

J