Member Info for LookBothWays

Anyone care to speculate on the reason for the dramatic fall? Just came across this one and am thinking maybe worth catching the bounce.

If this is a failure for any reason I expect we would go to 3 to 5p again so probably 7 to 9p in the price for a successfull drill and log is priced in. However on success this will rocket initially and then probably drop a little as traders get off and the fund raising plan for MOU4 is revealed.

Its a big win or loss bet right now.

I have been done for a stamp duty scheme that turned out to be illegal. Was used for many years by the rich but when the normal people got involved HMRC decided it was illegal and went to court to prove it.

I had taken insurance when I joined the scheme so landed up ok but it was a long journey. Some people got badly screwed as the brokers refused to payout on on some. Lloyds insurance market some of the brokers are dodgy.

Yes lol I am packing the money in just now while I can next election it will go down. How can you tax plan with all these clowns in charge?

£60k this year as the gov has changed the limit on contributions and has removed the maximum lifetime contribution limit

Drilling mud is not the only issue at MOU 2. Paul said after the presentation last week that there was issues with the logging equipment working with the mud they are drilling through. Not able to clarify more on that as that was all he said so not expecting MOU2 to suddenly appear from left field.

I did not get the impression PG and Lonny were going into the CNG business . The objective from speaking to them was to sell once the field is proved up to a level they can get a decent price. There are only 2 off them, to start up the CNG business will take a lot of effort. They will do the ground work whilst they wait for a buyer but that will only help in the sale as the more info they give on how to commercialize the field the easier the sell.

There are no CNG trucks in Morocco that is part of the problem of getting the correct spec ones, they have to get agreement with the minister of transport as to what they can use. As to adapting a truck that is not an option google what a CNG truck is. Its a bomb effectively you dont just knock one up you need companies that know how to design them. The cab is not the problem.

Whoops wrong thread though someone replied to earlier post on CNG going to market

How do oil explo companies make money? They sell assets everyone knows they are explo companies but people still pay top $ for very good assets. This one has even got a local market lined up than does not require building of a pipeline!

Have you ever had share in an exploration company before?

Lonny was discussing the CNG market after the presentation. Basically he is constantly being hassled by the tile manufacturing industry owners every time they drill as to when can they get the gas. Not only is there a market they are desperate to do business.

Problem is the CNG trucks will take upto a year to obtain. Morocco has it's own standards on weight etc for trucks that go on there roads and that spec has to be met. Add that to the issue that there is no supply of trucks in the market as since covid manufacturers do not hold stock so a fleet needs built from scratch. Getting ad hoc CNG trucks second hand is a very expensive solution from a spares and maintenance point of view.

The post presentation part was the best most questions, even the most detailed, were answered where market rules would allow.

They both appear very confident of the end result either that or they have no idea what they are doing, I would tend strongly to the former.

Morocco will be sold when its producing saleable gas basically. The enquires they were getting recently, and there was a lot of interest, were pathetically opportunistic. A sale will happen now when drills prove what's there and full value can be obtained. There are only 2 of them running the company so they cannot run an oil business in Morocco and the other prospects they have. Basically they are an explorer not producer.

Hugely reassuring tonight. You won't get much from the presentation that isn't on the slides but the chat after over nibbles and beer was well worth the trip.

They dont announce the running order until you are in the room. The list of companies is not indicative of their presentation time depends on when CEOs can get there.

Should add the last Proactive meeting I went to is still not on Youtube. This happens sometimes and that is the second time its happened to ones I have been at.

i goto these events regularly nothing beats talking to ceos informally after to work out why type of person they are, ie bull****ter, novice, deluded etc i have made a lot of money from using this tactic and saved a fair bit as well. i will be there. i invested after meeting pg and lonnie last time.

Petermac

have you considered PG and Lonnie had no option but to back this cash raise by betting on success in Morocco and you will notice hedged it with T&T. This was the only way they could get money. If they didnt the wheels fall of the wagon and they dont even get a chance to drill Morocco? I dont see this as a positive just a necessity which they had not planned for which again leads to questioning if there really is a plan as it keeps changing.

If I was bidding to do the work I would not bid without a survey. How can you cost it without that information. Asking bidders to do their own survey is a waste of their money if they did not win the bid therefore supply a Scope of Works with the survey and you will get decent bids. Engineering contracting ABC.

I have studies the economies and uses of hydrogen, it is where O&G companies are trying to move to and its still not great.
Firstly it has to come from renewables unlike blue hydrogen that comes from natural gas. If we ever come to having too much gas I suggest using that, nice thought there mind you lol.
Solar power works only during the day so 50% of capacity potentially lost. Yes you can add wind turbines to make it 24 hour production but your costs are higher. Still doable via solar but plant producing hydrogen cannot operate 24/7.
Hydrogen transportation is best done as ammonia then converted back to hydrogen as hydrogen is not as compressible as ammonia. Ammonia plants are not cheap so more CAPEX. If can be done by pipeline but a new one made of materials not attacked by hydrogen is needed.
Hydrogen rots the existing gas pipes we use currently unless its the new plastic ones so infrastructure would need upgrading to transport it. We can use upto 10% mixed with our normal gas supply safely however, this is the old town gas we used to use. Above that wont work.
I have concluded my research by assuming hydrogen will happen simply because batteries are not suitable for all machines, eg look at what JCB are doing also planes need a bigger bang than a battery can give for its weight issues., I should add ammonia can be used to power a plane. So hydrogen is coming it will off course be more expensive than oil and gas but that does not matter to the green fanatics that run this world as its us that pay.