Member Info for Madman-Rob

I would guess that part of the gathering of data will be to establish various flow rates.

It will be interesting to see how they use all the information gathered as they re- enter Alkald-2.

They are not targeting the maximum flow rate. It's more about gathering data they say.

Jay Cheatham, CEO, said: "We are pleased that operations for the re-entry at Alkaid-2 have now begun. As stated, we are not targeting maximum flow rates, instead, this programme is designed to allow for as much data gathering as possible. Whilst the location of the Alkaid-2 well is not ideal for the shallower SMD horizon, the Company was pleasantly surprised to have logged oil pay when drilling through the SMD en route to the primary target, the ZOI. This has provided a low cost option to assess both the productivity of the shallower horizon and test our improved frac design."

All to play for!

"Following the completion of drilling and prior to the execution of the rigless testing programme the Company has had a period of time to integrate the results from its MOU-1, MOU-2, MOU-3 and MOU-4 wells and mature its understanding of the structures holding possible gas accumulations. On this basis the MOU-3 well and structure is now defined as the focal point for a potential CNG development hub. As a result this well has been promoted to the first well in the rigless testing programme.

Good progress has been made on opening discussions for the offtake of gas on a larger scale than was previously envisaged by the "Proof of CNG Pilot Concept" strategy.

The wait will be worth it.

And if all 3 targets are met would they up the production rate ?

Many thanks for your reply. What kind of time scale are we looking at?

Sorry, a bit off topic it's actually an RNS clip about panr, followed by a general question about panr.

I'm rather confused with WTF is going on here.

Anyway I'm interested to know what the management team will want to do next once they have met their objectives.

The Alkaid-2 re-entry has three primary objectives:

(i) to gather the best possible reservoir fluid samples for pressure-volume temperature ("PVT") analysis;

(ii) to determine initial reservoir pressure; and

(iii) test the improvements in the frac design discussed in recent Company webinars

We did have a fall off in production in the last quarter and hopefully it will be fully documented in Q3 results.

The timing was not good. But looking at this realistically the margins between success and failure are small.

If we had not had the fall off we would be in the 800 boepd margin and saying that the next well could break the magic 1000 boepd.

Fall off is normal and it's why we need to push the various projects as fast as finance allows.

It's very frustrating and keeps everyone in the red but the program is continuing and despite the share price being very low we are going to show record production and with the oil price rising we should generate good profits.

Patience is something we are running out of but it's what's needed.

Wish you all a great day.

No update required.

Rigless testing MOU-3 using conventional perforating guns is currently forecast to begin on or before 16 October 2023, assuming that the wireline logging unit is released from its present contract on or before 10 October 2023. The Company will provide an update if there is any change to this date.

Unless they inform us then the testing will start around that date.

This month will finally see the start of the testing program. A few weeks of waiting is required.

This is a vital step forward in unlocking the share value.

We have the option to use sand jetting after the conventional method, to maximize the return.

If we can prove that the amount of gas is commercially viable, then we will see a massive re-rate in share value.

We can start a CNG business and raise funds to expand our drilling and testing program.

Or we can sell the business.

We have waited many years and in that time the research and general consensus has been, that there is a potentially massive amounts of gas in the sands.

The testing will once and for all tell us what we have. I'm not sure on the time scale of when the analysed data will be released but, in time, it will be made available.

I'm happy to hold and consider the risk/reward to be off the scale.

The reward is now in sight!

"Whoever is careless with the truth in small matters cannot be trusted with important matters.”

Albert Einstein

Gary

I am looking at the low entry price as a way of making money. I have also lost on this share so far. However I see a good long term opitunity.

If I want to I will buy in and lower my average. Then if I want to I will sell or hold. That is my choice. The reason I quote my average is to show that there is great potential in this share and buying at a low point is potentially rewarding.

I don't need bitter and twisted people telling me that I'm spouting rubbish. Personal insults show a person trading on emotions.

There is a filter button. Simply use that option if your hatred of anyone making money offends you.

Maybe the stock market is not for you.

And please don't go into some long rambling reply as I've filtered you.

If you read though posters history you quicky discover if they add to your reasearch with something relevant or simply like to complain and bicker.

Another one filtered.

We are still very much in a situation where we need to show some testing data to the interested party's. They are certainly keeping a watchful eye of our asset.

We have raised money to test and they will require at least some of the data to move to the next stage. Paul is certainly confident.

The testing has not started and the market is aware of this, hence no real investment and a lower share price. People see a falling price and panic. Stop losses are taken out.

Investors and traders know it's going to be a few weeks before the testing impacts the share value so they wait. Others will try to mitipulate. It's normal.

Meanwhile it only takes one positive bit of news (Ireland?) to send this soaring.

Once testing starts and initial data is accumulated then the market will react. Prices will rise and traders will jump on board.

Then we will see fireworks 🎇

Two weeks !

Good summery Hepseal!

Q3 figure should be solid.

What is then needed is news on projects that will add value.

Make enough money and you can add new wells to the production.

This in turn drives up the profit to ramp up the program.

Not there yet and unless addition programs are implemented, we will have to be patient.

Gut feeling is in two weeks time this share will move upwards as the testing will of started .

There is a window of mischievous opportunities available, in the uncertainties of the wait, before the testing starts. I will take no notice of the none stop FUD.

Until the market is certain that the testing has started we will see this kind of trading.

I'm happy with holding as my reasearch shows that if I'm patient I should be rewarded. The stock market is about believing in your own research and knowing when to trade. Other people's opinions, unless backed up with reasearch, are just opinions!

Wacky's and Jimmy's excellent posts yesterday were confirmation that others also see value.

Have a great day !

Best of both worlds. Start with conventional then finish off at a later date with sand jet.

A follow-up Sandjet testing programme will take place later to test other reservoir intervals that are likely to respond better to the Sandjet perforating technique compared to conventional perforating guns.

Question:

Why are we in discussions to sell gas on a larger scale than was previously envisaged?

Answer:

Because Predator will have a large amount of gas to sell.

Step back for a minute and enjoy letting that simple statement sink in.

🦖🦕🦖🦕🦖🦕🦖🦕

The update was certainly needed. Now we can relax and wait for events to unfold.

Paul Griffiths, Executive Chairman of Predator, commented:

"Following the completion of drilling and prior to the execution of the rigless testing programme the Company has had a period of time to integrate the results from its MOU-1, MOU-2, MOU-3 and MOU-4 wells and mature its understanding of the structures holding possible gas accumulations. On this basis the MOU-3 well and structure is now defined as the focal point for a potential CNG development hub. As a result this well has been promoted to the first well in the rigless testing programme.

Good progress has been made on opening discussions for the offtake of gas on a larger scale than was previously envisaged by the "Proof of CNG Pilot Concept" strategy.

Financing options are being crystallised which will allow funds to be re-purposed for further appraisal drilling activity and value accretion through drilling success."

Q3 2021 was on the 7th.

Q3 2022 was on the 13th.

Not long to wait.

We can then see what money they will have available for the next drill. We will also get an indication as to likely profit or loss generated. It should be a small but healthy profit.

I hope they inform us as to why the was a drop off in production. Was it over all the wells ? I would appreciate the outputs from each individual well and the reason for the decline.

Following on from Q3 we need news on actual dates when they are going to continue/start the various projects.

Without start dates or news there is nothing to move this share along.

😁 ...... 😲......🦖......

Will shut up now !