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The only mention to Mou-5 is on page 19 within the 2024 outlook under the heading Exploration Upside "Drill the Titanosaurus Jurassic Project" although no dates or timelines are give so a bit of clarity regarding this would be welcome in tonight's presentation, I agree given the valuation you would have thought some more focus would be given to this.
If anybody is interested below is the link to Proactive investor forum if not already posted, is there any investor's with deep pockets going?
"Join our audience of astute high net worth investors, fund managers, private client brokers and analysts"
https://www.proactiveinvestors.co.uk/register/event_details/440
Highlandmatt, see below extract from the 05/02/24 regarding rigless testing:
"MOU-5 is expected to be drilled between 1 April to 31 May 2024 in order to avail of in-country well services that will remain following the completion of the Company's rigless testing programme, which is currently underway, thereby reducing mobilisation costs for well equipment and services."
and from the same RNS regarding parts required for drilling:
"The majority of the critical long lead items required for drilling are available from the Company's surplus well inventory stored in its Guercif warehouse, thereby potentially further reducing drilling costs."
Enjoy the weekend...
Confirmation that testing is now underway:
"MOU-5 is expected to be drilled between 1 April to 31 May 2024 in order to avail of in-country well services that will remain following the completion of the Company's rigless testing programme, which is currently underway
There must be indications testing is going well as Paul sounds confident as we are taken to another level, sounds like a news flow rich period is underway.
"The Board remains committed to generating activity and newsflow in the weeks and months ahead and are seeking potentially to take the Company to another level through continued drilling success."
No need to wait:
https://www.predatoroilandgas.com/investors/regulatory-news-alerts/
From 30/11/23 RNS, the regulatory issue was resolved.
"On 8 November 2023 PGVL was informed by ONHYM of an unforeseen administrative regulatory issue as a consequence of which the Joint Ministerial Order approving the Guercif Petroleum Agreement Amendment No.3 had yet to be issued.
As a result PGVL had to stand down at short notice mobilisation of its rigless testing well services and international personnel to await resolution of the issue by third parties.
The matter was resolved and the Joint Ministerial Order is expected to be issued shortly."
Saint, to be clear this ticker on the LSE has absolutely nothing to do with the now company 'In The Style', they are now completely separate entities, so no, u fortunately there will be no cancellation of suspension, an RTO is the best chance of getting anything back at this point.
Aziz Akhannouch is the majority owner of Akwa Group, a multibillion-dollar conglomerate founded by his father and a partner, Ahmed Wakrim, in 1932. It has interests in petroleum, gas and chemicals through publicly-traded Afriquia Gaz and Maghreb Oxygene. Akhannouch was appointed prime minister of Morocco in Sept 2021.
Some people just cannot see what is right in front of thier eyes.
Jimmy, I assumed they drilled until they reached their target of the top Jurassic carbonate as stated in the 11/07/23 RNS, although it does not specifically say that was the total depth drilled so could be wrong?
"The top Jurassic carbonate objective was reached at 1135 metres TVD MD, 253 metres deeper than the estimated depth pre-drill based on no well control."
Also worth noting from the last RNS is "Everything is in place and all approvals have been received to commence testing. "
They have everything in place to test so could do so when they wish, once they some assurance IWO an MOU from the ned user/buyer, testing will begin, it won't be long now and the share options will be hit.
Gas burns clean so if they were flaring (which has not yet been evident) you would clearly see yellow, orange and red colours of the flame, I live upon a hill overlooking a gas terminal about 5 miles in the distance and when it flares off it realy is a great sight to see, especially at dusk.
I have seen satellite images of flaring on previous investments but it is very good timing for the satellite to fly past and capture an image at that time, so chances are we may not see one.