Member Info for KeithOz

Just searched my list of O & G arbitration disputes - absolutely NOTHING concerning Predator. Sources:

Upstream Oil and Gas Disputes - Global Arbitration Review

globalarbitrationreview.com

Energy Sector Disputes | Quinn Emanuel Urquhart & Sullivan, LLP

quinnemanuel.com

Cleary Gottlieb | Arbitration in Oil and Gas

content.clearygottlieb.com

Disputes: oil and gas and mining - Global Arbitration Review

globalarbitrationreview.com

Oil & Gas Litigation - Brown Rudnick

brownrudnick.com

Oil and Gas Disputes - College of Commercial Arbitrators

ccarbitrators.org

Complete made-up bs.

1. Dunstan's Science of Petrology, 1938, p.186:

https://x.com/KQuick20704342/status/1919551236862574778

2. The Institute of Petroleum, Journal 1936: Vol 22, p 239:

https://x.com/KQuick20704342/status/1919550166308159617

3. ONHYM:

https://x.com/KQuick20704342/status/1825784783961731150/photo/1

4. Geo Microbial Tech, 2006:

https://x.com/KQuick20704342/status/1916976872673710413

If GRH is correct, he should have said that Mr Griffiths has REfound oil on the Guercif licence.

https://x.com/KQuick20704342/status/1504653923541393408

From the SOU half-year report today:

"Morocco's imports of natural gas from Spain through the GME pipeline rose again in 2024. In 2023 Morocco imported 9,4721 GWh (approximately 0.965 BCM, 30.5 Bcf) of natural gas from Spain and in 2024 imports increased to 9,7031 GWh (approximately 0.886 BCM, 31.3 Bcf). In the first five months of 2025, imports have risen by 7% compared to the same period in 2024".

Not just bovine ordure, but human flatulence:

"The appointment of new secretary with international connections most likely to secure new equity investors, as pg typically equity fundraiser before each new drill."

Equiom are providers of corporate services. They are not stockbrokers, investment managers, portfolio advisors, or fund raisers. Even if they were, to encourage one of their clients to invest in another of their clients would be a clear conflict of interest, rather ironic for a company specialising in corporate governance, advertising themselves as focussing on a "commitment to responsible business practices".

Could be useful that they also have an Abu Dhabi office.

Attn. Sarah Cobden, re Predator Oil & Gas Holdings.

Good morning, Sarah,

May I offer my congratulations on Equiom partnering with Predator. While I am sure that you will be busy getting to know the Predator business, may I suggest that an early task is addressing the question asked by many shareholders over the last couple of months, as yet unanswered. Why has no AGM been held this year, in contravention of the LSE listing rules? Why have shareholders not been informed of the reason for delay, and when will this be held.

Thank you in anticipation,

Kind regards,

"the bloke is a living legend". i agree, but for all the wrong reasons.

watch this video on his investment vehicle rivington street holdings:

https://www.youtube.com/watch?v=kf5tt02tw8a&ab_channel=bambamrubble

he and his dodgy associates post on this bulletin board from time to time, accusing those who are positive about this company of conducting a pump-and-dump scheme, bolstering what would appear to be their own shorting strategy. @namco & @gordon73 added to the ****'s bin.

Let me enlarge upon @donalb's comment as to why there has been a hiatus in Morocco.

For the last 20 years, ONHYM has been a department within the Moroccan government responsible for overseeing the development of indigenous resources, especially oil & gas. Their role has been to conduct surveys and compile geological databases in order to encourage international investment into Morocco's resource industry, grant exploration & production licences, and take part in planning for required new infrastructure.

This changed in July this year, with legislation being passed that reconstitutes ONHYM as a commercial operation, not a government department. It is now effectively a joint-stock company, able to form subsidiaries and make investment into and/or ventures with other companies, including Predator should it wish to do so. It retains its current responsibilities for gas pipelines and storage.

As part of this reorganisation, ONHYM has launched a massive recruitment drive to build its own specialist staff. These consist mostly of geotechnical, exploration and production individuals with oil & gas experience. Clearly ONHYM believe that there is a need for such a large specialist group to handle oil & gas expansion within Morocco. As a commercial organisation, it will need to be self-financing; I will leave you to speculate on how it will achieve sufficient income to pay such a large body of highly qualified staff.

The link provided by @donalb showed a list of 32 candidates (pleasingly some are female, you sure don't see that in Algeria or Libya) for the position of Petroleum Exploration Geologist who have made it to the next stage of interviews - Allah only knows how many initially applied. ONHYM have been extremely busy with their transition over the last couple of months, but will soon be back to business with a greatly enlarged pool of human and financial capital. I expect to see some of that applied to Predator between now and the end of this year.

https://www.moroccoworldnews.com/2025/06/221238/morocco-launches-ambitious-public-sector-reform-with-onhym-restructuring/

@AGD62. I have repeatedly stated that I am not an engineer, now I must additionally state that I am not a corporate lawyer, nor an AI interface 😏. I would assume that a company must adhere to all listing rules of all jurisdictions in which they operate - these are unlikely to be contradictory, given the number of companies with multiple listings. In the event that requirements may differ, such as the date of an AGM, I would assume that the most stringent requirement would be followed.

It will certainly be interesting if PRD ends up with London, Dublin & Rabat listings.

I have looked into this previously. Here are my notes:

PRD has to meet the requirements of both Jersey Law and UK listing regulations regarding AGMs.

* The Companies (Jersey) Law 1991 only recommends the frequency of AGMs, unless the Company's Articles of Association specify the requirements, which is the norm. Article 91 of the above requires 14 days' notice.

* As an LSE-listed company, PRD must follow Listing Rules (LR 9.3.6R) and the UK Corporate Governance Code (Principle J and Provision 1, and the Companies Act 2006 Section 336, which require an AGM to be held within six months of the financial year-end, and 21 days' notice to be given.

* Some confusion may have arisen on this BB because, since 29th July 2024, there is no longer a distinction between Premium Listing & Standard Listing rules for LSE companies - all are now categorised as ESCCs (Equity Shares Commercial Companies).

* Based on the above, I conclude that PRD should have held the AGM by 30th June 2025.

BUT! Under the Companies Act 2006 Part 13, Chapter 4, and the FCA Listing Rules there are legitimate reasons why an AGM may be delayed:

* If the company is undergoing significant transactions (e.g., mergers, acquisitions, or restructurings), it may require regulatory approvals that delay the AGM until approvals are secured, or key decisions are finalized.

* Significant corporate actions, such as a major restructuring, takeover bid, or insolvency proceedings, may require postponement to ensure clarity for shareholders.

* A company may postpone the AGM to align with the announcement of significant strategic developments, such as new partnerships or financial results, to provide a clearer picture to shareholders.

* Such a delay, and the reasons for it, should normally be communicated to shareholders by RNS. I have written previously to the Company asking the reasons for the delay in the AGM, and the proposed date. No reply.

Oh dear, a squabble has broken out (again). I started this thread for a very good reason - to demonstrate that a deal can be done at a premium. In case you didn't read my original post, just such a deal was done today.

PRD & IVZ have a number of similarities. IVZ has drilled only two wells, the first was a duster, the second has intercepted 18m of oil-bearing reservoir, but has not yet been properly flow tested. Despite this, IVZ has significant prospective oil resources, and I calculate that the NPV of their oil is roughly the same as that of PRD's gas. IVZ has a market cap over double that of PRD, despite operating in Zimbabwe, which is less attractive than Morocco on just about every parameter. I suspect that this is because PRD is only LSE-listed, whereas IVZ has listings on the ASX and TSX - unlike London both are resource investor-friendly exchanges with substantial risk capital available for deployment, plus the US OTC market.

The new Qatari JV AMOG is specifically looking to acquire or farm in to early-stage African upstream opportunities, imho Predator Gas Ventures Morocco is at the right stage in its development and of sufficient potential scale to present a great fit for them. AMOG is far from alone in its ambitions, I don't believe that any of these outfits think they can acquire, or buy substantial stakes in, a listed companies at a discount.

@Ibiza. I have already been in contact with AMOG's Deputy Chairman, who is an Australian-based O&G veteran. I don't think the Chairman, His Highness Sheikh Mansour bin Jabor bin Jassim Al Thani, is likely to know who I am!

Here's an interesting deal announced this morning for ASX-listed Invictus Energy, with O&G exploration-stage assets in Zimbabwe. Source: NextInvestors private email.

Al Mansour Holdings, the investment vehicle for members of Qatar's ruling royal family, will invest US$25M (~A$39M) into IVZ at 9.5c (79% premium to IVZ’s last traded price).

This will position Al Mansour as a 19.9% shareholder of IVZ.

Al Mansour will provide US$500 million of conditional future funding to bring the Cabora Bassa Project into commercial production.

In addition to this, IVZ and Al Mansour will:

Create a new Africa-focused upstream oil & gas company “Al Mansour Oil & Gas (AMOG)” (think of this as Qatar’s oil & gas subsidiary for Africa, focused on acquiring producing and near-term development assets).

IVZ will own 10% of this company, and run operations.

Al Mansour will retain a 90% stake in return for funding EVERYTHING… (basically free carrying IVZ in this venture).

This Joint Venture wants to become “the largest private Qatari E&P [Exploration and Production] company with interests outside of Qatar”.

I will send AMOG a summary of PRD's Morocco assets, as I did to Hunt Oil. One day, something will stick.

@pwooly. I think I need to stick the caveat that 'I am not an engineer' in front of all my posts 😁. My limited knowledge of this is that Helium has a lower boiling point than methane, so a cryogenic process is used to separate them. This involves draining off the water, cooling the gas until it the methane liquifies, leaving the helium to be drawn off. So yes, this results in LNG; making the deeper thermogenic, Helium-containing gas logically a distinct and separate project from CNG. Thanks for bringing this to our attention, it adds to the rationale of shallow drilling for MOU-6.

@Tincan. I assume you mean all vertical. Disclaimer - I am not an engineer. Yes, I expect vertical wells. Horizontal bores are mostly used in reservoirs with very low porosity & permeability in order to maximise area of the reservoir / bore boundary. PRD has the opposite problem - fine friable sands with unusually high poroperm. I would expect these would be a nightmare to drill horizontally, with constant risk of washout and collapse.

In order to avoid secondary formation damage caused by compaction and plasticisation of the fine sand as a result of explosive perforation, I suspect that future wells will be completed without the use of perforation guns. This would entail pre-slotted casing, sand filter and gravel packing, all a lot easier to do on a vertical well.

However, if a target is difficult to achieve with a vertical well due to surface considerations (buildings, roads, waterways, etc) then a deviated well might be used as was the case with MOU-5, but the deviated (non-vertical) section would be through solid non-reservoir strata. Hope this all makes sense!

Should read 'Ma Sands, TGB-6 Sands, total 60m gross'.

Apologies, this got posted accidentally before I had finished!

Some questions raised about why MOU-6 is being drilled to 950m, why not deeper?

Well objective: Avoid formation damage in order to get enough gas flowing to surface to meet initial CNG requirements.

Is there enough gas?

Formations intersected, from top to bottom:

A-Sands, 11m gross, overpressured.

Ma Sands, TGB-4 Sands, total 60m gross. Referred to as "Middle Sands" in PG's presentations.

TGB-4 and TGB-2 Sands, numerous thin beds identified by NuTech. TGB-2 is a 'discovery' in MOU-1 according to the ITR.

These will provide 10 - 20 mmcfgd according to RNS 6/6/24, more than adequate for initial CNG market requirements.

Can formation damage be avoided?

Drilling mud choices will be increased greatly if the mud slide below 950m is avoided - this limited mud choice previously.

Deep MOU-Fan sands were also overpressured - this would cause potential formation damage problems for the upper reservoirs with the need for deep overbalanced drilling.

Other reasons for 950m.

The considerable gas volume in the Fan reservoirs will still be there, and can be accessed later for a gas to power project. It should also be noted that the gas above 950m is biogenic, and almost pure methane ideal for CNG. The deeper gas is thermogenic, so may require some purification for CNG. Finally, the gas below 950m contains Helium, so if it is decided that Helium-containing gas will constitute a separate project from CNG, then the planned drilling depth will preserve the integrity of the two projects

Some questions raised about why MOU-6 is being drilled to 950m, why not deeper?

Well objective: Avoid formation damage in order to get enough gas flowing to surface to meet initial CNG requirements.

Formations intersected, from top to bottom:

A-Sands, 11m gross, overpressured.

Ma Sands, TGB-4 Sands, total 60m gross. Referred to as "Middle Sands" in PG's presentations.

I suspect that the original plan was to hold the AGM in London, combined with a presentation revealing all sorts of positive information relating to MOU-3, MOU-5, and future collaboration, but this has been put on the back burner by lack of results from MOU-3. Key to this is the collaboration agreement that has been announced, but with an unknown partner, with unknown scope of the agreement. This is clearly all under the wraps of confidential information - let's look at this in more detail.

* The provisional agreement with Afriquia Gaz had its own RNS on 30 November 2023. This was solely for CNG distribution, and went into specific details. The 12-month exclusivity agreement for this has expired.

* The RNS of 21 July 2025 stated "...Funds to start EIA and advance design of optimum MOU-3 gas development facilities based on the Collaboration Agreement with our local partner". No name, no details.

* The Flagstaff video on 04 August 2025 provided more insight between 10m25s and 11m25s.

https://www.youtube.com/watch?v=_4AdyFj22l8&ab_channel=CoreFinance

"We've signed a collaboration agreement with a party who I can't announce who it is at present ... for a certain development option." ... "We're building a nice relationship here. Testing and flowing gas is critical, we know that, but we do that and then the door opens to all kinds of possibilities, and this party will fund the development of the first stage of the gas development."

*Mention of partner being on site, and interested in surrounding facilities, MOU-5 options, gas storage, and Trans-Maghreb pipeline. This unnamed partner appears to have operations of wider scope than Afriquia Gaz, who are solely distributors. Nowhere is CNG specifically mentioned, so potentially a wide-ranging agreement involving more of the Guercif natural gas assets than just CNG distribution.

Any thoughts?