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The grant is from Innovate UK's Medicines Manufacturing Round 1: Challenge Fund, which itself is funded through the UK Government's £70m Industrial Strategy Challenge Fund to speed up the development of new medicines, details of which were announced on 22 January 2018 by Sam Gyimah, MP, the Universities and Science Minister. The project with MedImmune is expected to last for approximately nine months from 1 February 2018.
The grant is to enable N4 Pharma to develop manufacturing methods for Nuvec® particles loaded with therapeutic pDNA/mRNA encoding antigens and to demonstrate that such nanoparticles can be manufactured to the quality required for in-vivo studies. MedImmune will then evaluate these Nuvec formulations in relevant in-vitro and in-vivo models to demonstrate if they are able to deliver functional pDNA/mRNA capable of inducing an immune response.
Under the terms of the collaboration agreement with the Company, MedImmune has the right at any time during the collaboration project, and 3 months following its conclusion, to give notice that it wishes to negotiate the terms on which N4 would grant it an exclusive licence to utilise the results of the evaluation
"Apologies if this generated confusion. Let me put it this way - we are planning three wells back to back and we start drilling next week. I am not ruling out however that we will sell the portfolio before the end of the third well, or indeed anytime."
Agreed KTF
Definition of low charge risk - the lower the better
https://www.weatherford.com/en/documents/labs-articles/geochemistry-for-exploration/weatherford-characterizing-charge-risk/
Fastnet CPR extract:
"The target reservoirs at Tendrara are designated Triassic Argilo-Gréseux Inférieur (TAGI) and are a continuation of the Triassic sequences in Algeria that form the Hassi R’Mel gas field to the east, along with the oil fields of the SW Berkine Basin and the Maskala gas field in Morocco to the west (Exhibit 2). Six discoveries have been made from six wells to date at Tendrara, all in the TAGI reservoir, although results have been mixed. The key wells to focus on are TE-5 and SBK-1"
So are we linked to Algeria or not?
I liked this:
"Tendrara is considered by Fastnet as a significantly de-risked play. The reservoirs are thought to be a geological analogue of the Meskala field in Morocco. Six gas discoveries have been made to date on the permit, including a well on the TE-5 structure, which flowed at 1.4mmscf/d with no pressure depletion during long-term testing. Fastnet believes that higher rates of up to 4-5mmscf/d can be achieved from TE-5 using an inclined well to target thicker sands and by reducing formation damage. Based on a 15-well development, we expect a success case could lead to gross flow rates of initially c 60mmscf/d and 460bcf of production and a 20-year field life. "
"Significantly de-risked"... that's before all the data we have now....
Paul Griffiths, also ex-Fastnet:
"So, at the end of 2014, I was putting together Tendrara gas project onshore Morocco but unfortunately our Board of Fastnet, with one eye on the falling oil price of course at the time, led it to take Fastnet in a different direction into pharma"
A snippet of my email to Sarah that got totally overlooked in her response:
"as Luca is retiring imminently, will his project be something that a colleague will have to run with or is Luca looking to conclude prior to his (well earned) retirement?"
the word we are looking for is "elusive"
As I have said before - SOU has employed the best in their field so, to get spudding dates so, so wrong hints at a possible smoke and mirrors scenario.
There is the distinct sense they are waiting for something else other than location/approval.
And I quote:
"On the GSA we will of course release news through the RNS channel when we have it. Other than guide that we expect to make progress this summer, which is still the case, there is little we can add as it is price sensitive.
The rig is ready for mobilisation to TE9 (from Sidi Moktar) and will be mobilised as soon as the road and pad is ready to receive it. (Brian and his team were in Country on the week-end) It takes about 25 days to cross Morocco. We haven’t provided guidance on precise timelines but all is on track at present and the site visit is still scheduled for October. "
Agreed, previously there has been a distinct sense of excitement and news build up - JP tweeting, etc
There is either a news black out due to negotiations/external pressure or......who knows what?
Considering this is a potentially country/company/life changing drill it is surprising that there is not a touch more interaction...