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I also noticed that he did not mention the swabbing.

He previously wrote:

So he ( his well engineer ) concluded that the wells will flow, but we have to increase the drawdown pressure, which is the next step.

To do that, we have to do a safety case. The reason why we have to do a safety case is because if we increase the drawdown pressure too much, then we could have a blowout at surface. And nobody wants that, least of all our insurers. So we have to be very careful in what we do, [it’s a] painstakingly slow process. But I don't care, because at the end of the day, I need to sell an asset that is de-risked. I can't sell a blowout to the industry, I'm afraid, and I can't jeopardize all the other reservoirs in that well that have been safely secured behind casing.

I have not dismissed Predator getting in the swabbing team as the gas is certainly there. Certainly a question that has not been answered.

We will find out in the next month or so.

Paul's comments:

MOU-5 is the best risk/reward opportunity any of us have ever seen and the drilling starts on Monday!

Helium potential to be determined.

Mou-3:

John Tingas ( the well engineer) who did an independent study concluded that Mou-3 will flow, but we have to increase the drawdown pressure. All the preparation work and safety studies should have now been completed and I expect this works to be carried out in conjunction with the main drill. Hopefully, the swabbing team have been programmed in to carry out this additional work.

Paul also says that the volumes here are significant. They still have 61.9 Bcf 2C resources just in the TGB-6 and Ma sands, which is what they have been concentrating on.

He goes on to say:

There’s the opportunity to add the high pressure zone in MOU-3 which we encountered whilst drilling. And that has contingent resources and potential flow rates that could kick-start an immediate CNG development plan. And that’s important because we have to go to an exploitation concession relatively quickly

Perforating the A sands:

So as we talked about, we can perforate the A sands. We have 21.1 Bcf 2C contingent resources in just the A sands alone. That is sufficient for us to kick off our CNG project, even a mo

derate case of 3mmcfgpd, which is being conservative, we believe we can get at least that out of the reservoir.

A lot is about to happen, Predator are bringing on site, over hundred people with equipment and knowledge.

This is our first real opportunity to see if the research and articles like, "The Sleeping Giant" plus comments like " Blowing the doors off", actually relate to Morocco's potential. If it does then this share price will re-rate and fast.

We are just starting to scratch the surface of our Moroccan asset. Mou-1, 2 and 4 are all avenues of interest for future development. We also have Mou-6 to look forward to.

The importance of Mou-5 and 3 cannot be understated as a successful result on either will underpin all future developments.

The current work is funded.

We also have Trinidad as a safety net that will add a slow but steady income.

And there's Ireland.

In the RNS it says:

“The three producing fields that are being acquired are Goudron, Inniss Trinity and Icacos and are currently averaging 272 bopd of production and are held under an Enhanced Production Sharing Contract ("EPSC") with Heritage Petroleum and in the case of Icacos, under a Ministry of Energy and Energy Industries private mining licence.”

My understand is that without any additional work we will be getting the profit from the 272 bopd. This is without the oil that will soon be flowing from the other work over wells. Yesterday’s “X “ photos of a producing well is the first indication of real progress. Predator think that, with the wax treatment, they can turn a poorly performing asset into a profitable one. Time will tell but looks like PG is confident.

“Business development rationale

· Acquiring existing operations allows the Company to potentially accelerate the drilling of the Snowcap-3 development and appraisal well, which will target 2C oil resources of 1.4M barrels in the reservoir being restored to production by the Snowcap-1 well workover and 2P oil resources of 12.91M barrels from deeper reservoirs equivalent to those in the adjacent Moruga West field formerly operated by BP.”

It certainly looks like they want to rework as many wells as possible. With the infrastructure and fixed assets in place and along with the tax breaks, drilling multiple wells with, small but hopefully, increased bopd makes a lot of sense to me.

“· The fixed assets (inclusive of workover rigs, plant equipment, storage tanks, vacuum truck, separator and production machinery) that form part of the CEG Trinidad assets shall be utilised over all of the T-Rex Assets, without additional costs, thus creating efficient synergies and economies of scale”

That’s a great deal in utilising the fixed assets without additional costs.

· “Management is also very familiar with the Inniss-Trinity field as a consequence of its CO2 EOR pilot project which enhanced oil production by up to 100% in a pilot CO2 EOR well. Several existing opportunities to increase conventional field production were previously identified by management”.

I don’t know what really went on between the two companies but Paul certainly knows a lot about Trinidad and wax treatment. He has managed to overturn a poorly run venture into an asset with a potential that will add much needed funds.

Certainly worth holding as Morocco is about to take centre stage.

But of course it’s just my opinion and DYOR.

Pumping off is a term that we use to describe when the pump sucks air. This is caused by the pump moving more water than the well provides. Many people think that the water in a well is a large unlimited pool of water. In the Austin area (and in most of the world), that is not the case. Water flows through cracks, veins, porous rock, gravel, sand, or sandstone. The flow of water through those layers is limited by several things. Number one is the porosity. That is the size of the holes. If the holes are large, then there will be little restriction. If the holes are small, then the water does not flow as fast. This is like water pipes that carry the water through the aquifer. The second determining factor is the surface area of the production area. If you only have a few feet of production zone, then water will not flow into the well as fast as it would if you had 100 ft. of production zone. Also, a 6” drilled hole will have much less surface area than an 8” hole.

The third determining factor is the pressure that the water is under. The less pressure the water is under, the slower it will flow into your well. While the porosity and surface area are unchanging, the pressure is always changing. We measure the pressure in two ways. One is the static water level. This is the water level when the well has recovered fully from any pumping. This is a good measurement of the pressure that is in the aquifer as a whole. Another measurement that we use is the drawdown level. This is the water level in the well after a significant amount of water has been taken from the well. This usually occurs within an hour for small residential wells. As demonstrated in the picture, the porosity in the production zone slows the flow of water from the aquifer into the borehole. This creates a cone of depression. If you measured the water level in your well during pumping, the level would be lower than the static water level. If you had a monitor well a few feet away, you would see that the water level would be slightly higher in the formation just outside the well. As you go farther from the well, the water level rises until you get far enough away that the water level is back to static level. The distance that it takes to get back to static depends on many factors, but mainly porosity. The higher the porosity, the flatter the drawdown curve.

When a driller drills your well, he will estimate the flow of water. This is always an estimate based on the conditions that he sees on that day. But, there are many things that he can’t see. He can’t see how the water pressure will change during droughts. He can’t see if there is a pinch in the aquifer that will slow the flow of water during extended demand. He also can’t tell what is going to happen to the water level after years of use. He can’t see into the future and tell how many other people are going to use (and sometimes abuse) the aquifer. All of these things have an effect on your wells capabilit

Paul's interview:

So why Ireland? Well Corrib South is 18km from the Corrib gas field. Corrib gas field resources are dwindling, throughput is dwindling. Ireland is becoming almost 100% reliant for gas in the winter on the interconnector eventually through the UK. That situation is not going to be redressed unless more gas is found. Ireland has no gas storage facilities. The next storm is due to hit any second now and, at this time, if they had to increase gas supplies from the UK in an emergency, I don't think those gas supplies would be available. So Corrib offers us a security of supply option. It also offers us the ability to put our Mag Mell FSRU concept in place at the end of the Corrib gas pipeline, instead of at Ram Head. And Corrib South also offers gas storage facilities as well. So it ticks all the boxes for security of energy supply which is going to be the number one priority of the new coalition government. We have already met over the last 18 months key independent TDs, who are the equivalent of our MPs, and I'm pleased to say that several of them will be in the coalition government. And I'm meeting them in a couple of months’ time to resurrect FSRU concept and Mag Mell with them, which we discussed with them over a year ago, and which they were very, very supportive of but had no position of power or authority then in the coalition government. So we're not sitting here saying that we're starting to go into big business on LNG imports and FSRUs, etc. We're putting together a concept. We’ll secure, at minimum case, the gas storage facility at Corrib South and, in a positive case, up to 1TCF of gas, prospective gas resources, Corrib South is a lookalike for the Corrib gas field. And of course, President Trump is going to flood Europe with LNG but bad luck Ireland, they've got no LNG import facility. FRSU is the quickest way to get an LNG import facility. If you try to build it on shore, it's like Shannon, it's still going to take several years. So we're in the right place at the right time, if we can sell the concept on as a business with all the approvals, or some of the approvals at least in place, and with Corrib South awarded, that has value. And we already have one of the owners in the Corrib gas field who have already made an outline proposal to farm in, not just to us but also notifying the Department, the Ministry, in Ireland, that that's what they wish to do. But we have to get the successor authorization awarded first.

New government in place and security of supply still a massive failure after the previous administration.

We are still hanging in there !

Trinidad:

There is a lot going on in Trinidad and this will start adding finance through oil sales. It will be an important step in giving Predator additional funding. A slow but steady stream of cash.

Paul's says:

We will also progress, and are progressing, the workovers in Trinidad. And the target there is up to 300bopd full production by the end of Q2. Now the reason why some of that has been delayed is because last year we entered into an MOU with a patented wax treatment used by Aramco in Saudi Arabia, through a local company, Earth, it’s never been rolled out in Trinidad before. It meant that one of the chemicals had to be effectively approved by the Environmental Ministry because it had never been used in [Trinidad] before, so that delayed things a little bit.

But on the other hand, we also progressed the acquisition of Caribbean Rex, a 51% controlling interest in Caribbean Rex, which gave us access to the oil tanks that we need to store oil. We can’t just produce oil and truck it every day to the end of a pipeline somewhere else because the costs are significant. You have to store the oil and truck it in a bigger truck all at the same time to reduce the actual costs per barrel of oil for moving that oil around.

So the wax treatment is vital, if that proves successful it can increase oil productivity by up to threefold. If we’d started earlier in terms of the workovers we wouldn’t have been able to carry out the wax treatment so we wouldn’t have known fast enough whether the wax treatment was going to be as successful as we fully expect it to be.

We’ve completed the first acquisition of a Trinidad field and we’re working on the second acquisition. Again, it’ll increase our production above the 300bopd to 330bopd. And we’re evaluating an undeveloped field also which tested 400bopd from two existing wells and that would be potentially towards the end of the year, an application for a new licence.

Fund raise:

Onshore Trinidad

2. Snowcap-3 to +/- 1,500 metres

Appraisal, exploration, development

Q3/Q4 2025

Long lead well planning and site preparations.

Looking promising.

Paul's comments from the interview:

Mou-5.

That’s why we will do whatever it takes to start drilling MOU-5 next month on what is the best risk/reward opportunity any of us have ever seen, and we’ve been in the industry for 40yrs, each of us.

This is from a guy who knows Morocco. Plus the potential of Helium. We are also moving forward with Mou-6.

Mou-3:

I read that a few of the clowns have already dismissed Mou-3. Their comments show that they have an agenda or more likely just plain stupid.

Pressure build-ups reached 246 psi and 159 psi and then became static, and there was no flow of any reservoir fluid or gas to surface. So nothing got to surface. But certainly nothing came out of the formation, other than potentially mud filtrate.

So the well hadn't cleaned up.

Swabbing:

So it was not possible to do that swabbing at the time because we didn't know at that time what the problem was until we analysed the data and looked at what the possibilities were, and had an independent study done by John Tingas, who did all my reservoir engineering work, incidentally, for Tendrara, and Tendrara came and stimulated a 40 million day, so it proves the value of working together with a reservoir engineer. So he concluded that the wells WILL flow, but we have to increase the drawdown pressure, which is the next step.

John Tingas concludes that the well will flow.

So, last point then is that the volumes here are significant. So we still have 61.9 Bcf 2C resources just in the TGB-6 and Ma sands, which is what we're concentrating on the present.

There’s the opportunity to add the high pressure zone in MOU-3 which we encountered whilst drilling. And that has contingent resources and potential flow rates that could kick-start an immediate CNG development plan. And that’s important because we have to go to an exploitation concession relatively quickly

Perforating the A sands.

So as we talked about, we can perforate the A sands. We have 21.1 Bcf 2C contingent resources in just the A sands alone. That is sufficient for us to kick off our CNG project, even a moderate case of 3mmcfgpd, which is being conservative, we believe we can get at least that out of the reservoir.

There is a lot going on in Morocco.

There is movement in Trinidad.

Ireland still has potential.

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