Member Info for middleEastMoney

Hi Tyler,

Happy to learn, OK understood

Thanks

MEM

Tyler I think that means local work, services etc paid for in Naira is more expensive to SEPL.

However the majority of services are USD related, so a strong Naira has a small/marginal downside.

A strong Naira will improve the long term stability of the countries economy, which is a positive for everyone.

MEM

Let’s try something different, if you have nothing sensible to post re PRD, let’s try a little self restraint.

Ah silence, beautiful.

Hi Trek,

Hi Trek (or anyone else) May I ask what happened re the planned drill of OML 40, I know it should have been drilled but Covid got in the way.

I have just gone through almost 4 years of RNS’s and cannot see any mention of SEPL drilling this area, can you please update me, THANKS

One last question, from a EV standpoint, SEPL seems very undervalued, does the Co have a plan to try and increase our ‘visibility’ maybe a series of road shows, any talk of a NYSE listing ?

Thanks in advance

MEM

Is there a whisper of news to be announced re the MNPU deal, maybe released on Monday ??

The offer price was 148p only a few days ago, then we went XD. And now the offer price is 168p all in the space of a week.

This feels very different !!

MEM

Thanks for attempting to write a long detailed post, i share your frustration

MEM

Today (obviously not) or tomorrow for a published list from DECC re updated Licenses, after tomorrow, the list is late in publication.

All to play for in IRL

We could do with an update from the Co confirming all the moving parts are moving on site in Morocco and a more accurate date to commence testing.

As for drilling, I continue to be of the opinion it is running late….. and late eats in to available cash.

HOWEVER - The later the drill is running re arriving on MOU - 5 pad, the more I think PG will be constrained by cash flow and the bigger chance of a delay to all SJ testing, as PG will become backed in to a corner with Costs vs Time and the increased possibility of delays to SJ/Testing MOU 1,3 & 4 to run alongside drilling MOU - 5 and run straight onto testing MOU -5 after a successful drill.

Before you all shout me down, yes PG states we have the cash, but I do not imagine there is much left in the pot after drilling and testing in the current plan.

Cash burn pm will be eating away at the cash in the bank, period.

MEM

Pesky predictive text

———————-

Counting down the days until a transformative RNS

MEM

I think you mean ARBITRAGE

What Is Arbitrage?

Arbitrage is the simultaneous purchase and sale of the same or similar asset in different markets in order to profit from tiny differences in the asset’s listed price. It exploits short-lived variations in the price of identical or similar financial instruments in different markets or in different forms.

Find a broker with offices in London and Lagos as a first step.

I think we are on the very cusp of major price action with the Mobile deal agreed, just waiting final sign off, as promised by the oil Minister last week.

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.