The Nador Port article states that it is currently being developed for LNG, coal, & oil IMPORT. Not sure of the economics of trucking compressed gas from Guercif, then liquifying it at the new Nador facility for transport elsewhere in Morocco.
Very high pressure systems (10K PSI+) are invariably caused by thrust faulting - faults with a predominantly horizontal rather than vertical plane. This is the case at Kela-2, where gas is derived from underlying coal beds, trapped in a sandstone anticline (dome) sealed by a thick layer of salt, and squeezed by thrust faulting from the sides. So GRH's memory is fully functioning on this one, the geology is quite different.
However, I am more than happy to exchange our lower pressure for a resource the size of Leviathan, which is twice the size of Kela-2, which is itself by far the largest discovered resource in China. I am sure you all know that China is a much bigger country than Morocco!
Renergen is listed on the ASX as well as the JSX, so I have been following it for a while. I find it difficult to believe a lot of what they say, and find it very curious that no real detail has ever been released of either the size or composition of the resource. They are capitalised at about AU$300M, but need a multiple of that for upfront capital. My view: high risk (much higher than HE1) until verifiable detailed information (to internationally accepted standards) is available, but your own research might lead you to a different view.
This is a fair summary:
We were asked for views on other Helium stocks. Frequent readers will know that I specialise in resource companies, because of my background. The only other Helium stock in which I am invested is Blue Star Helium ASX:BNL. I currently have holdings in only 11 resource stocks worldwide, so draw your own conclusions. BNL will be drilling shortly and have a good prospective holding in Colorado. You can look them up on Proactive Australia. I cannot comment on the US-listed companies mentioned here earlier - they may be OK, but I do not have the time to research everything on earth, and most importantly, I have given up owning North American stocks since their markets are only open when I am asleep!
Thank you Nic/Sheep. Interesting stuff, I don't know how such people can still be allowed to operate. There's a very true saying that the easiest way to spot a psychopath is by the trail of destruction they leave behind them. Nowadays such people are termed as suffering from SPD - Sociopathic Personality Disorder. I neither know this person, nor am qualified to diagnose such a condition, but the issues raised in the article, if true, would seem to point in that direction. I have met CEOs whom I suspected of such a condition, including one who was a UK Peer of the Realm, and there are currently several Heads of State who behave in the same manner.
Hi Vegas - I agree that this figure of $215M appears to be the NPV10 for the 25MMcfgd scenario which was RNS'd a while ago, presumably as an example of what a potential joint venturer might want to offtake (aka Michael Caine). About a month ago I made my first attempt to calculate the NPVs of the different production scenarios. The problem with this methodology is that the NPV & IRR are increased by pulling production forward, but also decreased by additional upfront costs and lower terminal value - that is highly dependant upon what assumptions you make on depletion rates.
Because of this range of unknowns, I decided to base the latest set of valuations on the potential volume of gas in place multiplied by the PRD-calculated NPV. I agree that just because you have twice as much gas you will not make twice as much profit, and that is partly reflected in my amateur calculations. Quite simply, we don't have nearly enough information to make an accurate forecast, but we do know enough to see that even in a very conservative case, PRD is currently significantly undervalued. We can revisit after the 3/4 flow tests!
Just being going through the meeting materials, and see in the latest MD & A this on Hungary:
"Falcon continues to maintain and safeguard its Hungarian wells and review its operations in Hungary, evaluating all
options available to the Group to deliver shareholder value. The Group maintains its 100% interest in the Máko
All very well, except absolutely nothing has happened since 2007!
"Between 2005 and 2007, Falcon acquired 1,100 km2 of 3D seismic data and executed a six-well drilling programme
on the Deep Makó Trough. Each well encountered thick sequences of hydrocarbon bearing rocks, and tests flowed
hydrocarbons from each tested horizon. Several wells flowed gas on test and one well, Magyarcsanád-1, tested light
oil. The Makó-7 results demonstrated the presence of a very large column of hydrocarbons in the well-bore."
So what is the $450K per quarter administrative costs being spent on? Mostly director remuneration and fees, plus an additional $180K on share-related bonuses. I hope that shareholders are intending to ask questions of the board, and vote accordingly.
Ella - I don't think we are going to hear from Mike Moles or Hillary Gumbo. BT said that we 'might' hear from them when the new geophysical models were presented. Instead, those models were presented largely by Jeremy Brett in the video embedded in that odd out-of-hours RNS. I assume that this was done as part of the window dressing presented in that RNS, showing that new blood had arrived, and those new appointees were expert in the interpretation of the KSZ. Jeremy had in fact developed one of the geophysics models, and he presented that as an overlay to Hillary's previous model. I was encouraged that the two models were in such close agreement. It is my assumption that going forward we will here a lot more from the new management team, and less from the old guys.
Nic - I think you might have misconstrued my comment. I don't wish the misfortune of a colder than normal winter on anyone, except perhaps on us here in the tropics, where it's too bl88dy hot all year round. Particularly not to the detriment of my Irish friends - when I worked in Dublin, I was made more welcome than anywhere else I have ever been, unfortunately I cannot relate the best stories for fear of being banned.
Quick reply to some of the comments of the last 2 days.
1. Who bought all the shares post June 6th RNS? - lots of us did, and have stated so here. I am sure I am not alone in holding today pretty much the same value of PRD as at the start of June - i.e. 3x the number of shares. My guess is that just on this BB there are several very firm holders close to the 3% declarable level, and 10 - 15 with around 1%. Together with the insiders that makes for a big chunk of the shares in issue. There is also an outside possibility that foreign interests have built up stakes for which they do not believe they need to declare by TR-1.
2. Share price going up on increased volume, always a good sign. With over half the market cap in very sticky hands, this will continue, and likely accelerate on the issue of expected news.
3. Move to AIM will increase likelihood of IIs coming on board, many will not invest in companies with PRD's current listing level.
4. Considering PRD's market positioning, and reactions to comments hoping for a severe winter, Predator is rather an unfortunate name. I understand this is likely to change on AIM admission, any chance of speeding that up? How about a competition for a new name? Fiftyshadesofgreen is sexy and nods to Ireland and away from CO2, but is a bit too long - come on, I know you can do better!
JP - I'm hoping that they will do a full suite of tests including DHEM on every hole they can, this will enable them to build up as complete a picture as possible, even though I am sure they know to within a couple of metres where B1 conductor is.
On this current hole, (in my opinion only, not stated by KAV) both sets of geophysical models were in close agreement and suggested to me this may be a feeder zone. I am hoping to see the Karoo and Proterozoic gabbros actually in contact at quite a shallow level - perhaps 450-500m. The B1 conductor close to this hole, which of course we are testing next, is actually quite small physically, and unlikely to account for the whole of the strong magnetic anomaly. I am therefore hoping that we will hit a considerable thickness of altered Proterozoic gabbro as in A2, but possibly also with disseminated sulphides. DHEM would help to understand the extent & thickness of any such mineralisation. I stress, this is an educated guess only, maybe I'm just being too optimistic, we'll have to be patient!
ijr1. For now , will assume this is a genuine , although rather worrying, question. Since you have posted here, you must have an internet connection, so try this:
Just to try and improve the sour atmosphere... Mark Twain was also a very successful private investor. One of my favourites from him, the definition of a mine: "a hole in the ground with a liar standing next to it"