Predator5 Nov 2024 09:26
I have moved on from yesterday's news and made my view clear. It is, what it is, It's pointless to continue with a "told you so", dialog.
That kind of rhetoric quickly descends into countless posts of zero value. The troll will milk it for all it's worth but for me their inability to write any other viewpoints confirms why they are filtered.
I want to look at potential. Currently we are in the blame game stage and hopefully we can return to looking at potential soon.
This is what the additional money is for:
Guercif onshore Morocco.
1. Perforate higher pressure gas sand between 339 and 350 metres in MOU-3 (Safety Case being developed)
600,000
(We are now expanding testing. We must be confident that the swabbing unit will get the gas to flow, otherwise what's the point ? )
2. Contingency for testing MOU-5 and potential helium sampling
550,00
(Funding to drill was in place and now we have finance to test. Unknown how many zones that will cover, but it's a start)
3. Satellite remote sensing and gravity/magnetic study to potentially locate fracture zones for enhanced helium concentrations
50,000
(This will help with finding the right fracture zones to test. It will need to be completed before we spud Mou-5)
4. Contingency to close out Corrib South farmout offshore Ireland - conditions for award of successor authorisation now a likely near-term goal in H1 2025
25,000
(It makes sense to have the funding to close out Ireland if the politics allow. What happened to the previous 100k allocated? )
5. Public Relations
Predator's historical Trinidad CO2 EOR Project is being presented by the Ministry of Energy and Energy Industries at COP 29 - global PR opportunity
10,000
( Keep the politicians aware of what we have and keep the legal side and requirements up to date)
6. MOU-6 well planning and long lead items
300,000
( There are many viewpoints on where we will be when, or if, we drill MOU-6. Much will depend on what we have proved up.
It could be, yet another, attempt to find gas to keep the Moroccan dream alive or an additional well to expand our sales via CNG and direct sales to the market.
We are at a critical stage where we need to show something of value to the market )
Onshore Trinidad:
7. Complete acquisition of new producing field
15,000
( There is the potential for a slow but steady income)
8. Drill two infill shallow development wells on new field and apply chemical wax treatment.
Put on production - forecast 80 to 120
bopd initially
350,000
(This will add much needed revenue)
9. Review new country entry onshore Africa.
Prospective acreage analogous to geological basins in Algeria and Libya which contain large producing fields - First Mover status to negotiate a Production Sharing Agreement
100,000
( Is it wise to expand the business at this point in time? The cost is low and I'm guessing they would view this as another Trinidad. Adding a slow but steady income. My main concern is