Member Info for KeithOz

5th November. Then the UK shareholders can celebrate with fireworks.

@Tom58. How about you say your goodbye?

@69. The Sentinel passes over every two and a bit days, and can't always get a good view due to clouds, nigh time, etc. The last 4 passes were the September 25th, 27th, 30th & October 2nd. A new pass is due today. The Sept 25th & Oct 2nd passes were cloudy, nothing to be seen.

There is a discernible difference from 27th to 30th October. The field directly to the north of the A2 highway, immediately to the south of the MOU-2 site, appears to have had most of its SW quadrant scraped - showing as a darker colour. I suggest we wait to see what today's picture brings before we get too carried away with the negative sentiment.

27/9:
https://apps.sentinel-hub.com/sentinel-playground/?source=S2&lat=34.32173351009302&lng=-3.363545895408606&zoom=15&preset=CUSTOM&layers=B01,B02,B03&maxcc=96.395&gain=1.0&gamma=1.0&time=2022-03-01%7C2022-09-27&atmFilter=&showDates=false&evalscript=cmV0dXJuIFtCMDEqMi41LEIwMioyLjUsQjAzKjIuNV0%3D

30/9:
https://apps.sentinel-hub.com/sentinel-playground/?source=S2&lat=34.32173351009302&lng=-3.363545895408606&zoom=15&preset=CUSTOM&layers=B01,B02,B03&maxcc=96.395&gain=1.0&gamma=1.0&time=2022-03-01%7C2022-09-30&atmFilter=&showDates=false&evalscript=cmV0dXJuIFtCMDEqMi41LEIwMioyLjUsQjAzKjIuNV0%3D

There is a calendar at the top of the Sentinel frame, if a circle appears over a date, there is a picture - soon there should be a circle over today's date, click on that when it appears, hope there is a good view. Hope that helps - K

@Rosso. I admire your enthusiasm, but Sound's Tendrara prospect has contingent resources only, no reserves, but those resources are less than PRD has for just the one prospect being drilled shortly. The Tendrara geology is quite different to MOU-Fan, completely different strata and structure, with inferior characteristics. In particular, Tendrara permeability is very low, and will probably require intervention to achieve consistent commercial flow rates, whereas MOU-Fan is likely to be above 1 Darcy. Lastly, Tendrara is not just a few km 'down the road' - it's 120km away from main road, rail, and pipeline to Europe, all of which run right past PRD's lead prospect, and will cost SOU a bomb to develop the necessary commercial infrastructure. Those are just some of the reasons I am invested in PRD, but not in SOU.

Hang on a minute, @ ***. When I posted about Helium Ventures not being able to find anything worth investing in, I was not suggesting at all that HE1 wasn't worth investing in, I was pointing out that HV had failed in their objectives, which according to the admission document were "the Company will identify and invest in projects with identified helium resources and/or reserves. The Company will also focus on those opportunities which would provide the Company with an economic interest (by equity, royalty or debt participation) and a control interest (through board, technical committee and or management positions)".

What this means is that none of the potential investee companies wanted Neil Ritson telling them what to do, particularly HE1, since as you are presumably aware they got rid of Ritson & friends a couple of years back.

I'm not sure I understand the reasoning behind this thread. Why would current shareholders want new money to come in? So that they can be diluted? Are you proposing a placing?

Would make a lot more sense to conserve current funds, declare a discovery, and then either raise funds or enter a JV from a position of strength. Which is exactly the strategy that the management are following.

@Rinkidink - really? Are you based in Tonga?

@Layla - thanks, that was a prayer to St Jude, the patron saint of lost causes :-)

Fortunately went on a speed reading course a few years ago :-)

* PWC have signed off CEG on a going concern basis.
* No mention of PRD litigation by name, apart from:
"One of the Group companies, CEG Inniss-Trinity Trinidad Limited (formerly known as FRAM Exploration (Trinidad) Ltd), has been named as a defendant in an ongoing matter in the High Court of Trinidad and Tobago in place since 2019, and still ongoing at 31 December 2021. The Group's exposure, in the event of an unsuccessful defence of the claim, is estimated to be in the region of $0.7m to $0.9m, referable to the sums claimed, interest and legal costs. The Group has filed a counterclaim which, if successful, may either fully extinguish the Group's potential exposure or will substantially reduce the Group's exposure. The parties to the claims continue to be in the process of settlement discussions. The matter has not been concluded and its outcome cannot be reliably estimated at this stage. In accordance with International Accounting Standards (IASs) - 10 and 37, no provision has been made in these financial statements in relation to this matter.
* Therefore no impairment shown in accounts
* Claim to be pursuing CO2 EOR. Doesn't explain how, given that PRD has exclusivity.
* There is also a reference to a Trinidad Govt. loan impairment in "a Trinidad subsidiary".
* The two directors managed to pay themselves £1,065,000

Good place to start. High prospectivity. 90% ownership confirmed. sSuccess there should enable raising of funds to start on the Kanye licences, which by then will have become 100% PRD owned.

As I said on Wednesday " Perhaps now the whingers on here could back off and let the KAV team get on with the job."

It was a well drilled for water for a local rancher, with petrology & gas data used by BNL to validate their licence prospects. It is not suitable for producing helium, nor is it permitted to do so. The dodgy way this story was presented underlines why it is so important for investors to read the actual announcements all the way through, rather than just acting on a Proactiveinvestors story.

So far BNL have drilled one well as operator, which hit water, not gas. Another well operated by a partner in their JV entered the target formation a couple of weeks back. Despite having capability for wellhead gas analysis, so far there has been no information concerning gas flow or content. Rather than continue drilling the other 3 permitted wells on this JV prospect, the rig moved off elsewhere. A recent announcement of upgrade to Contingent resources for one of their prospects came up with a disappointingly small number.

In my view, these are at least yellow flags, potentially red.

Should have added that their original AU$ 400,000 investment is today worth exactly half that! They have also spent £516,000 of shareholders' funds, with nothing to show for it but their salaries & fees.

Final results for year to 30 April 2022 published today. Some interesting reading:

"The Company embarked on a comprehensive review of potential projects across North America, Europe and Africa. In total over 40 investment opportunities were reviewed in the USA, Canada, Europe, and in South and East Africa. An initial screening methodology has been used and where appropriate a thorough technical assessment was conducted. In one case commercial and legal due diligence was conducted, however, we have so far not identified a suitable project for the Company to get involved in."

and

"Given the continued lack of a suitable helium project which meets the investment criteria set out by the Company, the Board decided in early second quarter 2022 to consider a potential change in Investment Strategy and to review projects in industries outside the helium sector."

HEV has only one investment - in ASX-listed Blue Star Helium (BNL). I paid less than HEV for my holding, which I am currently selling down since the BNL progress has not met my expectations.

Towards the end of the video, Ben mentioned that they were also using an external consultant to help prioritise targets. This is likely to be either David Catterall or Thomas Rogers. Both have very substantial knowledge of sediment-hosted copper systems, particularly in the KCB where both have been involved in the discovery of significant deposits. Both have also recently worked as advisors to Cobre. Either of these guys would be able to provide the KAV in-house team with a valuable independent opinion.

KAV has a reliable history of double- and triple-checking all their data before releasing it or acting upon it. It would seem that this thorough approach, unusual for small exploration outfits, is continuing at the KCB.

What is wrong with them?

Short answer: Nothing.

Long answer: HE1's licences (and in particular the ones they have retained) are on flat, easily accessible land, in the middle of the rift valley. This means that you can easily do cost-effective geophysical & geochemical surveying, such as with seismic trucks, soil measurements, multispectral satellite imagery, and various electromagnetic techniques. The prospects are structurally defined, large and relatively cheap to drill.

Compare that with Noble, where the licences are either under water or on steep, rocky slopes. They justify this by claiming that they are targeting prospects that are laterally closed by basement, which gives a 'better' seal. HE1's seals look just fine to me. Anyway, the type of prospect they are targeting is likely to be smaller in area, has less exposure to migrating Helium (it can only come in from one side, not all around), are unlikely to be stacked plays, and will cost a lot more to drill. So Noble have to be pretty sure that each drill is going to hit something worthwhile, otherwise they are going to run out of cash pretty quickly.

How do you do that? You can't use several different exploration techniques and cross-correlate the results as HE1 have done - you can't drive a seismic truck underwater or on a 45° slope, you can't do EM underwater, nor utilise MSSI. So you have to rely on just one technique - old fashioned 3D seismic. Yes, it's a lot better than 2D, particularly if you have small prospects, but it's hideously expensive. Things can and still do go wrong when exploration relies exclusively on one technique.

I'll leave it to you to decide which company is following the more cost-effective strategy, I have already made my decision.

@Ella - quite correct, sorry, I was in a hurry! 3/10, should try harder! Let's do the 3rd paragraph again:

PL082/2018, while now firmly in KAV's grasp (90% of LVR JV), is a little further behind the Kanye licences in terms of exploration. AEM has been flown over PL082/2018 and Mamuno (Kanye, to be renamed Shongwe), but will need to be interpreted and integrated with the existing exploration results.

That's a very impressive list of targets. In area, it's not far off all the other companies' target areas put together. Ben said "If copper exists on our ground, I am confident that our highly experienced technical team will find it." I think he is correct.

Timing is noticeably absent from this announcement. I assume for the Kanye licences that is dependent upon completion of the deal and approval by the Botswana authorities. First step is the issue of a Prospectus by Kavango, which I expect in the next few weeks, now that they have all the detailed info.

The Mamuno licences, while now firmly in KAV's grasp, are a little further behind the Kanye licences in terms of exploration. AEM has been flown over Mamuno, this will need to be interpreted and integrated with the existing exploration results.

So, a lot of work has been going on and is continuing. Initiation of drilling is largely awaiting the legal & regulatory process, the timing of which is largely out of KAV's hands. Perhaps now the whingers on here could back off and let the KAV team get on with the job.

Since that decline is based on one single trade for the day, of only 138 shares, value less than $6, I do not think we are imminently facing Ragnarök, Armageddon & Götterdämmerung combined. You do of course need to dyor into other possible causes for eternal damnation.

@NH - For decades, I and the rest of the world believed Francis Crick, James Watson (DNA structure), John Bolton, Cyril Hazard, Thomas Matthews and Allan Sandage (Quasar identification) were all male. I met Professor Crick in the late 90's, he was still working in his (her) Cambridge lab although over 80, never even occurred to me he (she) was female. Thank you for correcting this misunderstanding, I will pay much more attention to what you have to say in future, you obviously have outstanding expertise across a wide range of the sciences.

Hi Charlotte. You sound rather sour that since saying that it's a 'total shambles' and that you are out, on 17th August, the share price has risen some 22%. Presumably your post today is an attempt to manipulate the price lower to give you another chance to buy in. Do you really expect people to give your statements any credibility? Especially since you seem to be following the same strategy with PANR?