Member Info for MikeGP

eric,.. you don't think the Sidi Farm-out was the "luca" news?

..at least 2 more bits of news to come in petty much sort order,... TE-9 location and the Re-modelled Basin.... expect an uplift in the 9-17-31 numbers, given the additional structures that the seismic has identified.

..someone put 50p in the meter!

Morning Ducati, Absolutely. Massive news for Morocco. If our profile wasn't already high,... it's about to get higher.

.. a lot on here were moaning about our CEO,..and wanted to give James the BOOT,.. he gave it to you! Now,... just let him get on with his job. 20 inch pipe line,.. maximum end of scale,.. as he said in Norwich,.. you can infer from the size of the pipeline the expectations of the company. A 12 inch would have been more than enough for what we have booked to date. Best

No probs,.. that's what we are for. Eskers is the man!! Super sleuth. Best

yrabs, you don't need a maid,.. just use tea bags.

J, Indeed,.... and maybe why the contract that was originally quoted in $'s..... became Euro's.

egg, It's just one of the sales metric that they are using for the agreement to value the field... there are others.. but as I understand that is one of the key figures. JP is guiding $7-9,.... and they have used $8 for their �1.50/tcf sp price guidance. He also said during the Norwich presentation that he was confident that the deal would be in line with that guidance... which suggests to me that $8 is a done deal... maybe he might be able to squeak a bit more out of them,... we know how he loves a good deal,.. and a surprise. Best

Ponkey... well, that fits in with the time frame as I understand it too. But as he has said,... he won't rush it to meet a self-impose 'deadline'.--- as +-$1 either way makes a 20%difference to Market Value come LE! I think he described the GSA as the most important factor affecting the final outcome. Best

egg, Don't remember any guidance on GSA saying end of May. JP has said that he hoped to deliver on BoT and GSA before Summer break.... so I take that as before end of July--- and at the Norwich event he suggested to me that the BoT will most likely come before the GSA. Best

dhc, P/E ratios would lead to a much higher so if we applied similar profit margins for previous managed services contracts. Sadly, IMHO the market will now discount the numbers due to the political uncertainty. We'll most likely have to wait for our bank balance to do the talking which means we are unlikely to see full value out of the M/E contract(s) in the short term. However,.. I suppose that we would have to balance this against the massive growth potential in the country, which is probably larger than we had hoped for. Hopefully the second contract mentioned, that they believe they will get over the line this year, is in a "safer" region! I think that it is quite likely that we will get an update just prior to the AGM, via RNS, so that they are clear to talk freely at the meeting. If not before! Clearly PF is happy with the supply chain,... It sounds as if one of the main concerns is how the banking sector will shake out,.. who will be open for business and who won't? The EIB was favourite to facilitate funding/ money handling for EU companies wanting to operate in Iran,... but they seem to be having a "squeaky bottom" moment given that a lot of their business is currently linked to the US. Further meetings, EU/ respective Finance Ministers, today I believe? Fingers crossed,...... even starting from this baseline I can't see this less than 45-50p once the contract is enabled and I would hope for 60p+. The general update on the other Managed Services, Technical and Training Services that they will deliver at AGM will hopefully give us a very clear picture as to where we are, without the M/E contract. I'm not that hopeful that Tom Cooper will get the "go" on the recording/filming or broadcasting of the AGM. PF said he would speak with "advisors" but he didn't embrace the idea as I hoped he would.... and we know how tight lipped they can be! Anyway.....

I have received a very prompt response from PF. He is going to speak with their "advisors",.. presumably that will include Tom Cooper,... to see what can be done. By all means mention that if you contact Tom direct. As you can imagine I also raised the M/E deal. His comments below: "Rest assured we are not being idle on the situation and we are in regular dialogue with the client, UK Gov, the EU, various banks, the supply chain and professional advisors. It is important to stress that the equipment and services we are to provide under the contract do not fall under sanctions even under renewed US sanctions. We do however need to be sure banking and our supply chain are firm before we commit to start the project. I am hopeful the EU will put the required measures in place to enable this to happen in due course." ___ Best

Upcoming mews/info/agreements due over the next circa, 12 weeks? Not in any particular order. 1 TE-9 and TE-10 well site locations to be announced 2 Rig to be mobilised from Sidi 3 Updated basin model to be released, .. ( 9-17-31) 4 BoT Contract to be concluded 5 GSA Agreement to be concluded 6 Sidi Farm-In agreement 7 CPR 2 to be released, presumably in Draft and the Final form as per CPR 1 8 Seismic to be completed(?) 9 TE-9 Spud- late July/early Aug? Anybody want to add to that, and re-post, if I have missed off and key items. Best

.. that what you have to remember,.. regardless of whether this well will end up producing,... is that each well tells us more about the geology, the structures and how to drill. All good as we move forward. Likewise the fact that they have brought the well in under budget provides further comfort.

... and suggested that they tape and/or film the AGM and then upload to the company website etc., for those who cannot attend. If you would like that to happen can I suggest that a few more do the same? Best

..and if that isn't the way that it pans out,.. we could always spin Sidi off into a separate company and sell Eastern and Western Morocco separately,.. albeit that might require approvals from our partners etc., etc.,

oops.. crossed with morocco knows...

PNE79 That's why I posted first thing this morning. It will be nice to see who comes forward on the Farm-out. If we do a deal with one of the big boys,...Shell for example,... then you would have to think they would want Tendrara too? This Sidi exercise just might give us the heads up on who might be the "players" in the LE event.

... the process will take that long: ".... following completion of further subsurface evaluation and significant inbound third party interest, the Company has now initiated a formal farm out process for its Sidi Moktar Onshore licence, Central Morocco. " __ Key word being "significant"-- i wonder if this will involve one of the "majors"... possibly paving the way for Tendrara? Are one of the big boys about to put their head above the parapet. If they think they might want in on Eastern Morocco,..this would be a good opportunity to get in with the team?