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Predictive text FFS ! KINSALE PIPELINE

I wonder if PRD should try and take an option to buy the pipeline, removing the decommissioning cost from Kinsale Energy, should we exercise the option!

I can think of Billions of reasons why we should….

I am assuming that once 16-2 plus the 3 new wells are drilled, tested and on production, that might be an opportune time to sanction another CPR.

Once we have all the facts, I expect this new CPR will hammer home the message of booked Reserves, Production, RF etc.

Any profitable use for the Gas, Electrical production/Crypto etc plus I know Colin is keen re CCS would all be icing on the cake.

Meanwhile we await news on 16-2…….

Have a good weekend, safe in the knowledge that from now until 08:00 Monday ZEPR will have generated $500,000+

MEM

Nm

SDX plan 3 drills across Q3 and Q4, I am left wondering how PRD plan all their back to back drilling, with as yet un announced JV/Partners to provide Finance.

I am not being a negative Nancy - I am trying to be a realist, it is soon to be June, possibly no substantive news until July, I am asking the question every SH should be asking, how is this drilling plan, back to back, multi pad construction, logistics etc, all going to fit together with SDX, who have the cash to proceed.

Open to sensible, rational, thought out answers. Thank you.

MEM

Please read this article http://gasprocessingnews.com/news/fsru-ships-in-high-demand-as-buyers-seek-quicker-route-to-lng.aspx

If we do not commit very soon, we will have a very good plan, but no FSRU availability.

The IRL Govt are dancing around a real problem, no long term commitment/planning.

Also no mention of PRD’s assets/gas fields in todays RNS, I wonder why not ???? :)

Lets see if Paul’s connections, back channeling, can pull a rabbit out of his wizards sleeve.

Probably at least another 4-6 weeks until possible news re Morocco.

I simply cannot see a drill bit hitting the ground until Sept at the earliest, not sure how all this will tie together with SDX plans re the rig.

MEM

After the Bank holiday we will be at 2 months since the Auditors resigned, I expect news very soon, which should be a signal to the market and the SP might start to move northwards.

Any solid evidence of a widespread cease fire, followed by peace talks will see the SP race upwards, 400p, 600p

Having read through the WP (at speed) whilst I applaud Paul for this ambitious plan, I have a nasty feeling telling the Irish politicians how they should proceed (even though they clearly need a kick up the backside) might backfire, no one likes to be made to look a fool.

Lets see what the Irish business press make of this.

And as I said earlier, will this help our SA, the jury is out.

MEM

Interesting tactic and before PRD have been granted our Successor Authorisations (SA)

We are certainly applying pressure.

I would suggest if no SA, the next step might be a Judicial Review.

PRD are going to drag IRL in to the 21st century, wether they want to or not.

PG will now have a target on his back, lets see if common sense can be brought in to play.

MEM

I told you a while ago, the Communication is abhorrent

The SP has just reached my target top up price. The only unknown is Time, production news to come, CPR to come, other news in the pipeline (pardon the pun)

Accumulate and wait.

MEM

With respect you missed out a large negative USD strength against GBP, engines, lease rates, spares, fuel etc all USD related. I see this as a big negative, dragging down the figures. Sorry.

The appointment of a new Auditor cannot be far off, I suspect this news might be the catalyst to start the first steps in the recovery of the SP.

Rational peace talks will bolster the SP, whilst no one can put a firm timeline on these processes, sooner or later both will happen.

We will once again see 400p, 600p and much higher.

Looks like my 19Tcf guidance is starting to firm up re Morocco.

As for Ireland, I have allowed a £3 billion valuation as a reasonable figure.

BTW PG mentioning our Morocco license is equivalent to 62 North Sea licenses, is correct, but unless we are advised otherwise, we have to hand 25% back in just over 3 months, but 45 North Sea license areas is a rather large area.

Have a good weekend.

MEM

Good point, well made 707

Hi Zeus, if I can quote from the RNS

‘ Two primary candidates for a potential farmin to the Guercif Licence have been chosen from the initial responses to a targeted marketing exercise by the Company's experienced management team. The Company is proposing to offer the successful candidate a sixty day period of exclusivity to complete technical due diligence and to negotiate commercial terms’

So the process has not yet started ie the 60 day clock is not yet ticking.

When/if PRD agree Terms, the deal has to gain approval, so even if the 60 days starts on Monday (mid May) and runs towards 60 days (it might be quicker) let us assume 45 days :) end of June, we the SH might not know anything until the deal is ratified/agreed by the Authorities, let us say 4 weeks, ie end of July.

Then we can book the rig, if we have all the long lead items in place.

Given a successful outcome, which I suspect is highly likely, I do not forecast Drilling commencing until Sept/Oct, at the earliest.

A question you all might like to consider, will/can PG announce a JV deal, prior to approval by the authorities/Partner, I suspect the answer is no.

MEM

Just defending my position !!

Billy Ray, I agree with your synopsis, it pretty much matches my figures. I am not sure why I am the villain here, not that I care.

Some of you seem to miss my point, if I am happy to take a few months to try and make some money elsewhere, I have always said it would allow me to buy even more shares in PRD !! Read my previous posts, I am clear.

Short term I see the SP drifting, long term, IF the finance is sorted, I will be delighted.

If I get the timing wrong, it is my fault at re-entry pricing.

I await Finance news

MEM

I think today we will see the bottom re the SP and a steady build up over the next few weeks ahead of 16-2 production news.

C357 a EIA will not progress the drill, it is a vital part of the process, but to move forward PRD need FINANCE