Anti-FUD16 Mar 2023 02:39
Everybody is entitled to have their own views on a company, but very often are failing to declare the reasons for those views. PRD is a volatile share, with a high degree of liquidity for such a small company. This makes it fertile ground for traders to make a quick, albeit small, return. Some posters here are clearly traders, and seem to think that by posting half-truths they can influence some shareholders or would-be investors, and maybe push the share price down enough for them to profit from a trade.
I think a huge amount is going to happen in the next few months - don't make investment decisions based on my views, but here they are anyway.
* Formalities – and they are only formalities – for MOU-1 perforation must be close to being finalised.
I would expect a first announcement that perforation has been completed, and that flow tests have been successful, from mid-March onwards (oh, that's today) – tests for reservoir continuity will take longer and require processing.
* The financial model in the RNS of 18/3/21 assumed gas price of $10-12 per mcf, initial well pressure of 2100psi, and a 10mmcfd flow rate.
* I will put my rooster (real word not allowed) on the block and estimate that we will have gas price of $16 per mcf, 2650 psi, and 25 mmcfd flow.
* Even at the original, lower numbers, the RNS stated “an MOU-1 success case will provide multiples of the development capital requirements necessary to attract reserves-based lending”.
* So I also expect imminent announcement of either an RBL agreement with a prominent London resource-focused financial provider, and/or a forward gas sales agreement with a local CNG distribution company.
* Together with this there will be a leasing agreement for the CNG plant.
* MOU-2 lab testing will already have been finalised, a solution found, and a source of suitable mud components identified.
* Once finance is available from the source(s) above, the mud components will be purchased and shipped to Morocco, along with the remaining equipment for MOU-A, including casing, which is the longest lead time.
* MOU-2 will be finished, the SV101 will move to MOU-A. No one else needs a drill in Morocco, there is no way on earth that this rig is going outside Morocco – get your 'city contacts' (lmao) to look at a map, and identify the nearest non-hostile country currently needing a rig and work out how much it would cost to get it there and back, by sea, or via camel across the Sahara.
* An external investor will put a substantial sum into the T&T CO2EOR operation this month, and a CPR for Cory Moruga will be released next quarter.
* Vermilion Energy will make a decision in the next month on both PRD's Corrib South SA and EOG's Inishkea SA. I don't do Irish politics, so could go either way.
He-he. Let's see how long it takes for the screeching, wailing and gnashing of teeth from the usual suspects, not one of them having ever provided quantified or referenced facts in any of their
Sign In
Follow the stocks
