The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
That's defo the case Liveinhope. I distinctly remember thinking "do they think Paul is completely mug ? " They seemed to have the expectation that he would share business sensitive data with them, out of the goodness of his heart. This was in advance of any discussions and as you say, with no commitment so for nothing in return.
It will make shocking reading and Eamon doesn't want to frighten the horses. Ireland's two largest power stations are Moneypoint-coal burning and Tarbert- heavy oil burning and between them account for over a quater of generating capacity. They are old, dangerous, inefficient and polluting. I'd not sleep if I were he because if either go down, Ireland is in amber alert territory -
This is a distinct possibility, two other large power stations Whitegate and Huntsdown, both gas burning went down late 2020 and took over a year to get back up and running.
CHAR now moving into green hydrogen in Mauritania, already have wind farm projects underway there so their hydrogen will be truly green. With my green(ish) hat on, I'm hoping PRD follow suit with renewable electricity, if we do indeed manage to get into the green hydrogen market.
How long it will be before governments acknowledge the nonsense of allowing hydrogen to be classified is green if the electricity used was sourced from coal or oil burning power stations?
Do ONHYM need the help of well experienced UAE o & g experts to help deliver the dream of energy independence? Let's face it, what's been delivered over the past few decades in Morocco is a mere puff of gas and trickle of oil, so they seriously lack in- country experience.- Industry assistance in exchange for phosphate maybe?
If so, why now?
Maybe to help develop Anchois with CHAR.
Or,
Maybe the UAE reps will be advised that there is are far richer and more accessible pickings be had onshore???
I would strongly advise anyone newbies dreaming of a quick win or old lags 98% down hoping to claw back a few pennies- sell up before sub 9p and make good by investing in PRD.
The money owed to PRD was acknowledged in the BPC accounts for 2020. By denying its existence, someone was either lying to the taxman then or is lying now and possibly prepared to commit perjury..
Who would you put cash on? Your CEO, a fiction author with no o & g experience and Harry Potter still around (working for CERP are now CERL and still part of your outfit) Or respected career oilmen, Paul Griffiths and Lonny B with many decades in the industry between them..
Maybe he should ponder the fate of former GKP CEO currently sewing mailbags rather than sharing his exotic travels on social media..
Pre Covid, The T & T Government decided that companies wanting permission to drill any new onshore wells must commit to utilising EOR.
I'm wondering if EOR applies not only for applications to drill fresh wells but to re-open ones that have been shut in? I noticed in Monday's RNS /'Things to Do' list; as well as reworking old wells and re-opening shut-in wells, there was a commitment to use Water EOR. Is this something the board genuinely wish to do, or are they being forced into ticking EOR boxes on the applications I wonder?
Surely Minister Young, Hertiage or whoever else signs off the requisite planning permission might be asking why leave oil in the ground by using old fashioned water injection technology? CCS EOR has repeatedly found to be more efficient...but of course bridges have been burnt on that front...
Like Sefton, I was here back in the day for CCS EOR, well before we had the Morocco licence. The T & T Government had decided that companies wishing to drill any new onshore wells must commit to utilising EOR which was obviously great news for PRD.
I'm wondering if EOR applies not only for applications to drill fresh wells but to re-open ones that have been shut in? I noticed in the CEG RNS 'Things to Do' list; as well as reworking old wells and re-opening shutin wells, there was a commitment to use Water EOR. Is this something they genuinely wish to do, or are they being forced into ticking EOR boxrs on the applications I wonder?
Surely Minister Young, Hertiage or whoever else signs off planning permission might be asking why leave oil in the ground by using old fashioned water injection technology? CCS EOR has repeatedly found to be more efficient.
https://oilprice.com/Latest-Energy-News/World-News/Natural-Gas-Futures-Hit-13-Year-High-As-Traders-Expect-Blistering-Hot-Summer.html
Good news for us o & g investors- not so good if you are a single parent on income support. Still, Summer is almost upon us, I'm only needing my heating only for 2 or 3 hours each morning.
Indeed Chislehurst, BPC owed some serious creditors a lot of money- Stena, Baker Hughes, The Bahamian Government to name but three- but CEG/CERL (ex CERPlc now CERLtd) managed to keep the company's only producing assets-its T & T wells (plus exploration rights in Surniam and Uraguay) out of legal reach from them.
As you say, CEG are still producing and could be on the verge of becoming profitable, maybe with the help of EOR- which all along puzzled me why they would blow the opportunity of a mutually advantageous long term partnership.
Almost like as a company, they have been so dysfunctional over 20 years but have always had dreamers and chancers throwing cash at them. Everything is one huge gamble and they don't know how to behave sensibly.
Sure we all know individuals who get by in life in the same manner..
All good stuff Wraith, I'm seriously excited for the coming few months, I genuinely believe they are going to be life enhancing for many invested here, and for those of us who've been slowly building over the past few years, life changing.
The board is brimming with positivity and when so much is coming from o & g industry technocrats and seasoned o & g investors, what's not to love about this amazing opportunity to enrich ourselves beyond our wildest of dreams.
Just remember everyone, patience is a virtue that many of us Northern Europrans lack, things move more at a more leisurely pace in Africa the Carribean and Southern Ireland.
Many of us will soon be grateful that this is so, that and the covid delay has given us all ample time to fill up to the gunnels with as many PRD shares as we can afford..
Cheers Sefton.
I honestly believe that we are going to benefit massively as a result of good karma. We were both attracted to PRD because of CCS EOR when T & T was the main play. CCS seemed to have a great future but also it seemed an honourable investment opportunity in a pretty dishonourable world.
I'm still hopeful of us pulling something positive off over there, could even be hydrogen related via our relationship with Massey.
Hot off the press, another doom and gloom article in oilprice.com. One thing's for sure, there's no way our government could sell gas to Ireland amid blackouts in the UK.
Some uncomfortable compromises will be need to be made by Minister Ryan very quickly, but he's very likely left it too late for this coming Winter-Don't forget as well, they are still heavily reliant on coal burning power stations but Russia was their main supplier and they are refusing to buy any more Russian coal.
https://oilprice.com/Energy/Energy-General/Blackouts-Looming-Over-Millions-Of-British-Households.html
There's some real Eyore type negative vibes around the board and I honestly don't see why.
Every day, more articles in the Irish press about the need for locally sourced gas, LNG or storage capacity. We have potentially three plays there now with supplying non fracked LNG (which I believe is a red line that will not be crossed, LNG wise) Kinsale storage capacity and the Ram's Head/Corrib South successor licences. Actually, four if we count Paul's forray into green hydrogen...
We've now got Zak Mir giving us a 16p shout out by the end of the month..
Sit back, chill or read articles about the dire state of Britain and Europe's gas supply-you don't have to look far - The Times or Oilprice.com today both make scary reading for those who won't profit like ourselves..
All in the fullness of time..
Interesting about the emergency generators. They were originally due last autumn but
Minister Ryan said that they could manage without and cancelled the order.
This was not infact true, as reported some time later in the press . The order was cancelled because the government had been a with threatened legal challenge in regards to the lack of transparency around the tender process , or rather lack of one.. Nevertheless, it shows a rather remarkable change of tone. It looks like finally, there is a grudging acceptance that blackouts could be a reality.
Malcy, good man, positive about PRD as usual-
Quite how SDX is similarly valued as us amazes me- I'm sure some investors treat a company like a football team and support through thick and thin. Otherwise, why wouldn't you cash in and buy PRD or CHAR..?
https://www.malcysblog.com/2022/05/oil-price-gulf-keystone-petrofac-predator-sdx/
See below- seems like all the key players around the world are waking up on smelling the coffee. Sadly, the intransigent Irish Greens aren't, despite their country being a far more precarious situation than most energy wise.
https://oilprice.com/Energy/Energy-General/ESG-Crusade-On-Backburner-As-World-Grapples-With-Energy-Crisis.html
Sure there will be multiple sales points for methane Tesla. It's used widely in fertilizer production, of which an awful lot goes on in T & T, Massy being a significant player..
Question is, would we be able to get in on the act, or at least assist a business partner with our CCS expertise from EOR..?
Interesting article, they are clearly in the business of looking for new partners and new discoveries
https://oilprice.com/Energy/Crude-Oil/Slew-Of-New-Discoveries-Brings-UAE-Closer-To-Production-Goals.html
Not sure why the EU has chosen to give Ireland this 'get out of jail' card. Maybe Cyprus or Malta don't physically have potential storage capacity but Ireland on the other hand has an abundance but is stubbornly refusing to develop it. They also rely a non EU member for the vast majority of their gas. The latter was viewed as a cardinal sin by the EU not so long ago- Reckon this kid glove treatment could be part of the grander game of diplomacy in regards to Brexit.