Morocco, Trinidad and Ireland6 Feb 2024 10:35
I'm not sure why traders/investors are not picking up on the vast amount of excellent info being put out by Predator. Maybe the want test results?
Testing will confirm out potential and if it's as we anticipated then the share price will be a lot, lot higher than today's price 🦕🚀🥂.
Here are a few bits of interest:
Independent Technical Report gives unrisked P50 and P10 Contingent recoverable gas resources of 109.28 and 234.42 BCF respectively net to PRD.
Unrisked P50 and P10 Prospective recoverable gas resources of 139.67 and 312.16 BCF respectively net to PRD.
Independent Technical Report for scoping potential CNG development gives NPV @10% 128.08 and undiscounted positive cash flow of US$207.504 million net PRD's economic interest with an IRR of 138%.
If I remember right that's only for phase 1 testing.
· Input assumptions 20 mm cfgpd production profile maintained for 6 years to recover 32.85 BCF net PRD at a flat gas price of US$12/mcf.
A successful MOU-5 drilling, testing, appraisal and development programme would potentially open up opportunities to exploit our onshore proximity to the Maghreb Gas Pipeline, which is located less than 10 kilometres from the MOU-5 drill site. This is a significant advantage for any future potential developer of a gas find as it will reduce capital infrastructure costs and the lead time to "First Gas".
Funding the CNG development can be achieved using discretionary cash on the balance sheet combined with a leasing arrangement for CNG trailers and equipment. For this reason it has been important to develop the scale of potential CNG gas sales in Guercif, in a success case, to provide greater leverage to negotiate leasing agreements with greater materiality for potential service providers..
The CNG development schedule will be updated after the Phase 1 rigless testing results.
We also completed a very successful planning trip to Trinidad last month as a result of which we made significant progress towards establishing an operating and administrative presence. We also identified additional workover opportunities on the Cory Moruga licence area and evaluated opportunities for re-perforating wells by deploying the Sandjet testing technology to pinpoint missed oil pays in some of the legacy wells.
Ireland has taken us by surprise. We remain cautiously optimistic that we potentially have a partner for Corrib South in the event a successor authorisation is awarded. There is no guarantee that the conclusion of the GSRO DECC process would necessarily result in a positive outcome for the Company. Corrib South is a quality exploration asset adjacent to the Corrib gas field infrastructure and was formerly held by Shell under a Reserve Licence authorisation."
Fully funded for all 2024 firm commitments
Paul has a strong hand and that will help Predator negotiate some profitable deals.
All subjects to commercial flow results.