focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Have 52 names in my bin belonging to probably 4 or 5 persons!
Interesting volume in the first 2 hours of trading. If that continues through the day and my screen is washed with green then I would suggest news tomorrow. BWTFDIK.
Now expect to find OIL at the next drill.
"These locations include a potential well to approximately 1,100 metres RKB to test the Jurassic prospect updip from the MOU-4 well. An independent geochemical desk-top study has commenced to assess the potential for mature oil and/or condensate source rocks in the Jurassic in MOU-4."
I know people are a little bored with my satellite reviews but again, there are changes at MOU2 between the 26th and 29th of November. All other pads are as is.
The point for me is that things are happening not just in the office regarding legal/contractual discussions but also on the ground. It may just be equipment movement, it could be drilling/testing. I don't know. Only PRD can inform us what is going on. Waiting patiently for the next RNS.
Jules8
No, not on telegram.
Images available through the site I use are rather poor so use the comparison tool to 'slide' between dated images to try and identify any changes.
Hopefully all will become a lot clearer soon with an update from the company.
KeithOZ, just to add my thanks for reminding us all of what is in plain sight for all to see. Excellent post as always.
As I've been watching the satellite images over the past few weeks, MOU2 has shown the most activity. Understandable as I know it's used for equipment siting but something has intrigued me a little.
The google map image of MOU2 shows in detail the spill pit for drilling activity...
https://www.google.com/maps/place/34%C2%B019'15.6%22N+3%C2%B020'13.2%22W/@34.3215715,-3.368296,154m/data=!3m1!1e3!4m4!3m3!8m2!3d34.321!4d-3.337?entry=ttu
Scrolling through the Sentinel images between the 15th and 25th of October seems to indicate the spill pit being used again! In the absence of testing from the 16th, could we have been trying to get though the awesome seal at MOU2?
Just wondering.
Nice trade and share price action today. If my chat feed was full of green I'd be thinking news tomorrow.
Think some have assumed that since the announcement on the 7th about MOU and no testing that PRD have just being doing MOU negotiation and nothing else. Latest satellite images of the 19th compare the the ones before the last RNS (images from the 4th) seem to show some changes at every pad.
Suspect the next announcement will be pretty full and not just about MOU agreement.
Exactly Rob.
We have gas to sell. Why would you entertain discussions if we didn't?
I suspect that PG and LB have an idea of how much even without testing. Testing just confirms their understanding and probably exceeds it.
Does anyone have experience of MOU in the O&G industry?
Previously worked in IT for the Insurance industry and a MOU for intention to purchase could be produced and agreed between parties in less than a week. Now a contract was a different animal!
Just wondering how long it would take for PRD and CompanyA to produce and agree one. If that is what's happening 😉
I would ask everyone to reread the RNS of the 5th of October.
Lots of detail about commercial aspects for gas at wellhead and cng development with parties which have probably been thrown up in the air because of recent conflict developments.
Yes it mentions testing on or before the 16th, anc I'm as frustrated as others about not being informed that it hasn't started. But, we SHs have no idea who PRD were in commercial discussion with.
Lastly, there was no indication (trades or fud) that an RNS was coming this week so maybe, just maybe, we may get another surprise RNS soon.
Based on today's RNS, could 1 of our cleverer posters put some value against the T&T asset. If at all possible.
"For the avoidance of doubt"... we will test the amount of gas we have when we have agreement for a buyer to buy it.
You wouldn't be negotiating with a buyer if you didn't have anything to sell.
Also, if it is a flare it would have been spotted by the satellite at around 11am today. But would have been known about by someone/anyone/everyone earlier than that. I suspect we'd have seen more trading activity today if we were flaring at MOU3.
OK, see what you are seeing on the 25th image but if the image is set on "false colour" you'll see a lot of orange across the image.
Scrolling back through dates there are plenty of other images with orange/red on the drill pad at MOU3.
Now, I'm not saying it's not a flare but could as easily be a piece of equipment.