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Very interesting diversification proposed by the Co.
In the meantime, given the announcement this week from the Oil Minister re SEPL, I suspect no one wants loss of face and we can expect a swift conclusion to the Mobile deal, almost 2 years and 2 months ago.
This will thrust SEPL into a veritable force in both Nigeria and London markets, oil production will leap overnight, the SP might take a week or more to catchup to the RNS announcement that the deal is finally signed off, I expect the SP will rise over subsequent sessions towards 220p+ initially, but I think we will be over 300p by year end.
Tick tock, we are almost there.
Agreed, testing is a must and ASAP, hopefully news next week.
Have a safe and lovely weekend everyone
MEM
Ps and as PG intimated, add in NuTech analysis plus use of SandJet, a huge step change to fine tune oil extraction.
T&T may turn out to be a huge step up for PRD.
T&T Government need to re build their oil/gas/condensate output.
PRD could become a key player, previous Carbon sequestration efforts & expertise have I suspect opened a lot of doors.
The twin advantage of carbon storage✅ leading to increased production✅ is the future.
It has been stated before that there are approx 5,000 shut in oil fields, some are capable of re starting production through carbon capture EOR.
This is superb news, no expensive oil exploration, the oil is there, billions of barrels.
Thousands of oil fields of little to no value will become valuable again, new technologies to help increase RF plus CC EOR will in time lead to a T&T renaissance in the oil business, this plays straight in to T&T government hands and Paris accord.
Meanwhile PRD will explore our own assets in T&T, deeper sands might surprise, to the upside, perhaps picking up other assets paying cents on the dollar.
T&T has been a slow burner, I think our new country manager is about to take the gloves off.
I wonder what his exact brief is ??
Do we still have exclusive rights to excess CO2
MEM
Hi DonalB,
I can see a date of 23rd Jan 2024 for the 31st Dec license holders.
So if there is any change to our S.A. Status, and the DECC mentioned end of Q1, it might all be released next week on or about the 23rd/24th April (Tuesday or Wednesday)
If they run true to form.
Don’t forget PG has an interested party for our CS License. (Vermillion ??)
Next week could see IRL news
Plus Sandjet testing news and perhaps some clarity on MOU - 5 drill dates
MEM
Predictive text for Kadar read LASAR !!
Well I for one am delighted at the beefing up of our management team.
Super chuffed that his experience will steer PRD’s plans forward to success and for the most part freeing up PG & Lonny to bring their Kadar focus back to Morocco.
Congratulations all round
MEM
I stand corrected ‘inflection point’ is more accurate :)
Hi Obadhia, I agree, PG has done a great job to get us this far, but the Co is growing, PG needs to relax his grip on his fiefdom and allow a small middle management structure to be carefully crafted to enhance the logistics/management of the Co.
After PG’s mea culpa/taking his eye off the ball, PRD are approaching a vital crossroads of testing, drilling MOU-5 and testing, everything needs to run like a Swiss watch.
It is remarkable 2 blokes in a small office have achieved so much, driving the Co forward through many hurdles inc Covid, but now would seem the correct time and prudent to add a couple of skilled logistics experts, leaving PG and Lonny more time to execute our corporate plan, on time and on budget.
MEM
Thanks Bowsled, my thanks also to Jimmy, BRV and Graham.
I believe Bowsled makes an extremely valid point and perhaps a great deal of lack of Comms (that I have complained about) is all about keeping a very very low profile.
Have a great weekend all
MEM
⭐ It is Leviathan 2
I seem to recall the size is approx 30 Tcf, May we assume GRH now thinks we will prove up 30 Tcf across our Morocco license (GRH forgive me if I have misinterpreted your comments😀) but your inference makes me think this.
Ryan remains.
DECC hopefully will now confirm our SA
Lonny if you are still reading this BB, can you post (X) an update on time lines re the SV 101 as they impact PRD’s drill program, once again it would appear plans are slipping.
Is it really too much to keep SH informed of changing plans - please ??
IRL DECC Acreage position report ending 31st March 2024 due soon. Our S.A. Update Promised by 31st March…..
If we are granted our S.A. In the next few weeks, that combined with some deal being hatched in the background (presumably Vermilion) should result in a swift rise in the SP, new ATH in both SP & M/Cap.
The cash received would mean we could ‘uncouple’ from the frequent Placing/SP suppression seesaw and just get on with a rapid twin track approach in Morocco and Trinidad, plus a possible special dividend to patient SH.
Rapid progress
Fingers crossed
MEM
Thanks Jimmy.
I hope everyone has a peaceful Easter weekend, whatever your Faith.
It’s a longtime since anyone mentioned the people of UKR and now Gaza and Israel.
I am still committed to allocating some of my PRD profits to various good causes, inc GRH favourite charity.
Keep the faith, keep family close.
MEM
THANKS PHIL, let’s see what occurs over the next 4 trading days prior to Good Friday.
Cheers
And 3 x 387,000 trades
Nm
In fact 9 business days to go, if the IRL are as good as their word.