Member Info for Lancygeo

January/February

An updated Independent Technical Resources report ,which will take into consideration the studies completed in 2025, is likely to uplift gas resources for the MOU-1 and MOU-3 structure.

Validation of the NuTech interpretation of gas saturations is also likely to significantly increase potential for prospective gas resources beyond the limits of the MOU-1 and MOU-3 structure in the interval down to 950 metres.

A fully-funded Environmental Impact Assessment will be commenced for a CNG/micro-LNG development together with a preliminary Front End Engineering Design concept.

Desktop well design and drilling programme will be finalised for an appraisal/development well.

The purpose of the fully-funded desktop work during this period is to ensure that the Company and its shareholders get the best possible mutually acceptable terms in commercial negotiations to monetise the discovered gas with the existing entities agreeing to join the Company in a potential FID and development programme.

A successful application for an Exploitation Concession in 2026 will crystalise the considerable value currently assigned to the discovered gas in Guercif licence area.

Oldslow…. agreed, well worth another reading of the following paragraph.

‘Predator has an experienced management team with particular knowledge in Moroccan sub surface and operations. The team specialises in incorporating modern, proven technologies and processes from Canada and the US to provinces where the conventional technologies did not allow their hydrocarbon potential to be revealed.’

I hasten to add that Keith’s post’s originally appeared under the thread subject ‘Guercif asset sale’ 😊

‘ One of the reasons I am invested in this company is their openness in releasing data - even including actual well logs. The availability of such a mass of detailed data has a downside, in that people of malevolent intent can cherry pick information, and present isolated data in a negative manner. This is exactly what is happening here today.

A Contingent Resource is a discovery. By definition this has a 100% geological chance of success (gcos). To move the classification up to Reserves, a clear pathway to commercialisation must exist - the resource will become commercial contingent upon this pathway, hence the term Contingent Resource. This commercial chance of success (ccos) is dependent upon a worked-up Field Development Plan, and the financial, technical and logistical capacity to carry out the FDP.

The A-Sands, Ma-sands, TGB-2 sands and the MOU-Fan are all Contingent Resource, therefore 100% gcos. In 2022 the latter three were assigned a 25% ccos, since none of the above factors were in place. This was of course before either Afriquia Gaz or Vivo (Shell's agents in Morocco) became involved. Any potential acquirer will have access to the full data sets produced with the participation of industry-leading service providers such as NuTech, Rockwash, SLB (formerly Schlumberger), Baker-Hughes and Italfluid all providing added credibility. The acquirers will use this data to assess if they have the technical and financial capabilities to commercialise the assets. Their assessment makes the historically assigned ccos irrelevant - they will bid solely dependent upon their own evaluation.

It has been stated here today that the project has only a 25% chance of success. Once again, you must decide if this is fact or fiction.’

‘ As I said, it is up to each individual to decide upon fact or fiction. Here's just one of this morning's fictions that you can easily fact check by looking at the publicly available ITR. "Entire portfolio in Morocco is classified as prospective resource only". I repeat, disinformation, aka lying.

Please note, I posted that most of these divested assets not only had no hydrocarbons flowed to surface BUT HAD NOT EVEN BEEN DRILLED. It is a direct result of drilling that Guercif reservoir depths, thicknesses, areal extents, petrology, gas pressure, charge and composition are all known. How anyone can deduce that a shallow onshore basin with 5 logged modern boreholes, plus historical exploration, represents a higher risk than an undrilled deepwater prospect is beyond me.

fyi, there is a whole sub-industry devoted to O&G Acquisitions & Divestments. These A&D firms actively seek out and/or promote suitable opportunities for their clients, and provide technical, financial, and strategic advice. While many are US-focused, some such as Energy Advisers Group and Piper Sandler are Europe, Middle East & S.E. Asia specialists in asset transfer. Investment banks such as Citi & Jefferies also have specialist O & G teams. What PRD are planning is standard industry practice.’

Tuppiesdad…. absolutely, the data is all important.

Please see the following posts from Keith back in October.

As always, excellent stuff Keith….. thank you so much for sharing 😊

PG is clearly building an empire in Trinidad….block by block 😊

Extract below from ‘The Sleeping Giant’

The proof is in the pudding:

There is more in his posts, and I only provided a few examples. One last example... which I think is also very interesting and makes me wonder how much information/data he has in his desk drawers?

While I was posting the picture with a sandstone lens - above in Section 11: Net pay estimates, it reminded me of something.

Unfortunately, I don't have the time to search out the original post, but for curiosity & in general:

Early last year, PRD issued an RNS talking about what they believed could be a lens sand structure or something to that effect. It was spoken about after.

The seismic analysis returned that it would be isolated and sit separately/higher than the main lower body of sands - Not continuous.

GRH posted on the BB soon after that RNS. He said he believed that the ‘lens’ structure was not separate. Or another way- The sands from MOU-1 to MOU-4 would be continuous... i.e. connecting the two wells. I believe there were a few persistent posts.

The implications of this on the potential size and volume of the structure could be significant.

PRD then released an RNS after more seismic analysis had been done, which confirmed this to be the case. Continuous lower sands. RNS below.

RNS-2021- JUL-19

"MOU-1 delivered a result that allowed us to de-risk the MOU-4 Target whilst unexpectedly validating the pre-drill seismic "bright spot", related to the presence of gas, as being attributable to the western limit of the MOU-4 Target and not an isolated target as previously interpreted above what was thought to be the pre-drill MOU-4 Target equivalent section.

Preliminary seismic re-correlation of the TGB-2 objective to the MOU-4 Target confirms that MOU-1 successfully proved up and substantially de-risked the MOU-4 Target."

I believe that result led to the company wanting to target MOU-4(2) asap.

Should be an interesting few weeks 😊

https://www.investopedia.com/terms/g/goldencross.asp

Pareto…. shove him in a green box and lo and behold ….’ you’d be talking to yourself’.

Pareto… please don’t respond to these clowns…. they are not invested and are only here to p@ss on your investment.

They are green boxed by the majority of lth ‘s so any response is a pure waste of time and effort and consequently clutters up the board.

I can only see good times ahead for PRD and therefore prefer to stay positive. 😊

Excellent progress…. a solid start to the New Year with continued production increases to come 😊

Venezuela is of no interest to us and therefore not worthy of a second glance to PG.

Let’s crack on with the immediate job in hand that is Morocco 😊

Lancygeo

All we need now is a post from GRH. BRV, Wacky, Seabright or Keith and it would make my Christmas 😊

Obadhia …. excellent work indeed.

No doubt, all us lth’s are very thankful for your research and observations 😊

Nick…. exactly my thinking also 😊

Lancygeo

GRH

thank you for your reply… I remain excited and very positive 😊

I would be very interested to know GRH’s thoughts on how negotiations in Morocco might be proceed ? … timescales, Paul’s approach to potential suitors, not pitching too low, too high, stub equity, etc.

GRH as well we know has much experience in such matters. 😊

Lancygeo