Member Info for KeithOz

MEM, is your £5.8 Bn valuation for the whole of Corrib S, or just PRD's share? Bearing in mind your altitude, did you mean £ or $?

It's good to have confirmation of multiple potential reservoirs with effective seals. I have asked if they are going to release the porosity & permeability data, then once we have also an idea of gas charge, better calculations can be made of the likely resource.

Don't forget that PRD has 50% of Corrib South - it is a 50/50 JV with Theseus, PG's own company. Together with his 20% of PRD, PG owns 60% of Corrib South & Ram Head.

Agree, Skittish, the 'JV now' talk is not the way business is done, by buyer or seller. Discovery first, and a discovery that can be reasonably extrapolated to a known number of other prospects. That way both sides can arrive at a valuation. Big business does not do guesses or hunches. You mention that it would be a brave or foolish executive who agreed such a deal, it's worse than that! - I have worked as regional business development director for a Fortune 500 company, had I taken such a proposal to the board (and it is the main board who agree such deals, not individual executives) I would have been fired.

I note the 'JV now' idea is coming from multiple posts from two people - I am interested as to what is their level of experience & knowledge of these matters?

7D - Yes. RNS 15th Dec 21:

"The Company's view is that it does not wish to be burdened with operating in Trinidad at the expense of efficiently managing it's potentially valuable assets in Morocco and Ireland where the potential for high-impact returns for shareholders are substantially greater. Maintaining an equity position in a dedicated CO2 EOR services company with a technical advisory role is the Company's preferred business strategy going forward into 2022, particularly as Trinidad is currently suffering a new COVID wave."

That's because the pressure cooker needed Ultradrill.

JD - I'm still waiting to receive my third of the samples .

I'm not sure that some of the more optimistic interpretations of the ERT RNS, written during my night time by posters whom I will not name, are strictly factual :-)

My read is that:
* standard seismic data already obtained has re-confirmed the existence of a number of potential reservoirs, including Tai, as targets for the upcoming drilling campaign (Q3/Q4).
* new deeper targets to the North of Tai & Itumbula have also been identified.
* MSS has identified widespread surface seeps, many (most?) appear to coincide with these deep targets.
* An ERT line has been run over well-understood ground at Tai to see if the technique is identifying anything already confirmed by drilling - the answer is positive. This trial line needed to be done, because ERT is not normally used for gas identification - ERT is a shallow evaluation technique, shallow (therefore low pressure) reservoirs of hydrocarbon gas would not be economic, He is 2-300 x more valuable for the same volume.
* Further ERT is now being performed over seeps identified by MSS. This will tell HE1 more about how helium migrates from the deep reservoirs to the surface. IF shallow reservoirs are identified, rather than just the 'gas chimneys' I have referred to previously, and they are of sufficient size, then they MAY constitute viable drilling targets.

ERT is straightforward to perform, we could find out the results by the end of the month if all goes well.

Gogs - yes simple process as you describe. Analysis should also be fast.

Of course he's leaving breadcrumbs - he couldn't tweet "The drill core is so gobsmackingly awesome no one dares release the result until it's been corroborated by at least three independent internationally renowned professors of geology" could he?

JP, I appreciate I'm getting really old, but the last time I was in a London pub, FFS was a fish finger sandwich.

Ben has tweeted the quote from Kung Fu Tzu (Confucius)"It doesn't matter how slowly you go as long as you don't stop" Happy now?
https://pbs.twimg.com/media/FK7dpHPX0Agx79G?format=jpg&name=small

HD - Porky only took 3 mins to respond!

https://twitter.com/Heliumone1/status/1490598647062536192 There are 15 people in this photo of a flat grassy meadow - incredible, I used to have to put in an ERT line with just me and a student, in godawful terrain. Young people nowadays, don't know how lucky they are - cue Monty Python sketch.

Of course a JV will provide faster large scale development, with consequent faster, larger profit flow.

If I may, I'll add my support to Heliumbull & Goldstinger to go for a JV AFTER discovery. I have been involved in many in- and out-licensing deals, and can confirm that any deal negotiated from a position of strength will always be a better deal. A confirmed discovery in 6 months time is worth far more to HE1 than a possible discovery now. DM is getting all the ducks in a row, now he needs to get one shot to prove that the methodology is right. After this basin is proven, there will be a queue of suitors, and he can bring in a major for a much better price. We just need a little patience - slowly slowly catchee monkey!

Coxo - my apologies, I have defiltered you. I was just frustrated at the direction things were heading. I have in the past, not on lse, been targeted by trolls for no apparent reason, and know that can be both hurtful and difficult to ignore. May I suggest that it would make for a a lot less aggro all round not to engage with trolls (which is of course what they want) but just to ignore/filter them. I am pleased to see that KSK has now been removed by lse, thanks everyone for your support.

I hope that the next time I post here it will be to comment on a positive RNS :-) Meanwhile everybody, enjoy the rest of your weekend - Keith

Fuschiagirl - agreed, and it's not just ladies who find this offensive. My children are also beneficial owners of KAV shares, and I encourage them to learn about investing, which includes reading the relevant bulletin boards.

I'm fed up with ploughing through pages of increasingly insulting squabbling in the hope of finding something informative, so Coxo & KSK, you're added to my ever-increasing filtered list. Sorry.

Coxo - I think they will waste their time posting pointless speculation to bulletin boards.

Hi PB. If your concern is a genuine one, I'm sorry that you have received an aggressive response from some quarters. Maybe this will put your mind at rest.
Nothing mysterious about 100Ks - for penny shares such as PRD I usually buy/sell in 100K units because that makes it easier to do calculations. I guess a lot of people do also.
I have looked through the trading data from the real LSE (stock exchange) rather than here. In the last 5 trading days there have only been 10 x 100K trades. 4 of these were at or close to the ask price, so can be rated as buys with a degree of certainty. 3 could similarly be assumed to be sells. The other 3 were slightly below the mid price, so it's difficult to tell - my direct access broker is often able to make purchases at prices below the theoretical mid price, so I don't trust the assignation of buy or sell on this website.

I really can't see any evidence of a sustained offloading campaign, I suggest you relax and enjoy some more pasta.

"discovered a working petroleum system." "need a second exploration well." Exploration well, not an appraisal well? So is that it? Hmm, I know of a lot of working petroleum systems that have never flowed a single drop. We need to hear a lot more detail before we know if this means anything positive for ECO