focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Vanman, your question, why hold back on testing ???
That is the biggest question
Bang for your buck, test, test, test. Prove up what we have, sell at a premium.
Why have we still not tested, first sand jet, now this ?
Remind me when MOU 1 testing was promulgated to begin - which we raised cash for……
PG had better come good after all this smoke and mirrors, otherwise his hoped for swan song will just be dust in the desert…….
There you have GRH’s view re Morocco, some folk are inbreeding on LSE, lord is that the sum of his thoughts.
The end does not justify the way SH are repeatedly treated.
PG’s fiefdom requires balance from you sir.
It is clear PG is a great geologist - sadly what is also crystal clear is PG is starting to treat his loyal SH in an arrogant manner.
I cannot speak for others, but this appalling behaviour towards SH must cease.
Please do not try and placate us with ‘commercial reasons, NDA’s etc.
What has just occurred is clearly wrong. You have a responsibility to reign in PG’s worst excesses.
Thank you.
MEM
I now expect another RNS stating agreement/HoT reached re off take agreement at $x amount, this will provide full clarity re a long term commercial contract.
CM I suspect is massive
As for the way PG conducts himself towards his loyal SH, yet again, we were left to assume.
The few of you voicing caution, we’re yet again correct.
You can never assume with PG until an RNS is published with something cast iron……
Ibiza if you check back through my posts you will see I have allowed for a non linear valuation depending upon how many Tcf we find.
Why ??? Because PRD or whomever buys us out cannot expect the same price per Bcf from a local end user vs G2P or G2EUR, volumes create discounts.
No one will be disappointed with the end valuation :)
Please find my previous post and adjust for the new total number of shares and warrants.
MEM
Old slow, not so quick to talk down values please, you are suggesting RF of 5% to 10% only, that would be hugely disingenuous, anywhere from 50% to 75-80% is more likely, given what know so far.
Any values people attach for the gas, you can double due to the vast quantities of oil on our acreage. If you allow $4-$7 per barrel valuation in the ground with modern day RF of circa 60%, you can start to see how value crystallisation will occur over the next few years.
MEM
Ps don’t forget PG statement that there are 9 similar targets across our license area that he knows of, plus the oil.
How many additional targets might a major discover ??
Known unknowns!
Hi Lancygeo, correct I have said 19Tcf for 2+ years, however recently I suggested in my latest forecast, we could and should start to think 30 Tcf was achievable, plus a corresponding amount of oil, but it would take more time to prove up, hence the reason stub equity in any sale is vital.
GRH has yet to come out publicly and spell out in clear language (not clouded in riddles) what figure he expects to reveal for gas or oil. Be brave GRH and give us an unambiguous figure.
What I do know is very few people are following the story in depth and detail, when the real story does the rounds I expect to see 5p increases per day in the SP, then 10-15p increases, all in about 2 weeks of the RNS that spells out flow rates and total amounts.
We are very very close
MEM
Can we be quite clear ONHYM pay the bonus to PRD, ie the $5m for exceeding 30,000 BOE/day
Interesting article about big oil, reducing expenditure to find new gas and oil reserves, instead they will buy newly discovered fields from small E&P
New TV program ‘PG & Lonny’s Moroccan adventures’ one man’s desire to find the largest onshore gas discovery in the last 20 years….. hiding in plain sight
Hi Brighty, with respect, PRD should be on your list, enormous gas find in Morocco, currently testing after 4 drills, all in very close proximity to Morocco-European gas pipeline. Zero debt and approx $10m cash in bank. On the cusp of exploding SP. DYOR.
GLA at Upland.
Plus possibly as much value added again, by all the oil on our equivalent 60 North Sea oil fields (7,700 sq km)
Plus did PG not say similar value to be derived from T&T.
The City has so far not allowed itself to become ‘interested’ in our story. If things align themselves, I can see at least one financial journalist writing about PRD as a 2024 share tip of the year :)
DYOR/DD
Perhaps MOU-2 drill completion and testing will follow in the next few days, a great deal of info will be derived under that thick mud seal.
All this intelligence will aid the next CPR and subsequent buy out.
Then we can state, 4 x drills, 4 x hits, 100% success rate, determine more gas in multiple various thicknesses. MOU fan bigger, thicker, higher pressure (under the enormous weight of the seal)
What a few weeks we have ahead of us.
Maybe some press releases about the long term ambitions of the Kingdom, from the conference, that might assist in our assessment on what is going on behind the scenes :)
At 25:40 in to the presentation PG says ‘farm out big Jurassic Oil prospect’
The oil in our license will be worth billions to SH, and will be a thick layer of icing on our cake😎
In the Value creation about to occur in PRD, the Time vs ROI will be off the chart, as multiple testing results come in thick and fast.
These results will help determine the position of MOU - 5 and probably a follow on drill MOU - 6 to drill the deeper, high pressure gigantic field.
Will we encounter oil underneath the gas? Adding even more value ?
The next 8-12 weeks will be fundamental to value creation.
GLA DYOR/DD.
Through !!
I think no one knows for sure if we have started testing, given PG’s history re Comms as outlined by Gudin (Sept vs Oct)
I shall remain skeptical until something concrete.
Put yourself in PG’s position, if let down by a third party re equipment, would you publish another RNS stating let down and no new agreed date, or would you wait for clarity and a definite new date for delivery ??
Stuff happens, on this particular occasion I can see PG’s position.
Also take note of zero tweets from Lonny………..
Another few days will not matter once the results of testing are publicly known threw RNS.
Before HartleFool Bob jumps in, I am not trying to manipulate the price of PRD or his onions.
Just stating my gut feelings on the matter.
Whilst not for one second forgetting the terrible events in Israel or UKR, our Morocco asset is being tested at exactly the correct time given geopolitical events, out of our control.
Energy Security has just gone up a notch or two, winter comes around every year, our assets are growing in value, Billions will be paid, the only questions are just how much gas/oil will we prove up before a Sale/Stub equity deal is signed with a Major ? And for how many billions ?
TEST, DRILL, TEST and CPR followed by sale ? Or perhaps 2 more drills, MOU 5 & 6 ??
MEM
My bad
Typo
Their