The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
That is, as a company owner not in previous roles, for the avoidance of doubt.
Fair point Granit, I only occasionally state if a position is bought or sold, it's none of your business sorry.
I just find the whole scenario interesting and a useful learning exercise. One day PG may actually take a discovery all the way to production, forgive me if that has already happened but I cannot as yet find evidence.
It is permissible to post old chap, holder or not.
Communication is a very serious matter Granit, well it should be if you have chips on this particular gambling table.
It is gambling right?
It truly is, from a verbal reasoning perspective does it mean that if the equipment is not released then there is no need to update?
Classic stuff from PRD as usual.
But why the sp increase? The company made an intelligent decision to fundraise given the very high risk of failure and accordingly look ahead to being able to conduct further drilling.
Just strikes me as a quirky decision to hold or increase but there you go.
So are we mate, never read any logical, statistical information from you or assessments of the BOD.
Enjoy your jogging on, cheerio
Agree, the rerate has begun.
Many do have concerns tmh, perhaps they should just accept that being on schedule in a MENA country can be challenging...
Mumbo no need for naivety, compartmentalisation is to be avoided if possible when choosing your E&P weaners. Start with the SPE Petroleum Resources Management Manual, watch the many Schlumburger, Halliburton clips out there, study complete RNS and basic accounts (particularly PLACINGS) over a sample of companies. Most fail but some prosper.
This if Griffiths third visit to Morocco, the previous companies were Fastnet and Island Oil. One strangely turned into a pharma???
You won't become a Jimmy23 and neither will I but hopefully the above will give you some ammo to aid decision making!
Jimmy, thank you for you open and honest reply. Rare indeed amongst the legions of happy clappy cabbages...
Any particular reason wee Bob? Or just genetics.
Good stuff Jimmy, surely the vital piece of evidence needed is if pressure correlation exists? Honest Q, I'm a speculator not an industry pro.
On the wider picture I am of the firm opinion that the management could adopt a 'Festina Lente' approach, i.e make haste slowly. Since the pseudo discovery (undeclared as such) at MOU-1 there has been plenty of time to acquire 3D Seismic (not seismology for the serial pedant Oz). In doing so the company, after well testing, we could have had a far far more comprehensive appraisal with the culmination of well data and 3D analysis almost coincidentally.
In other words we could have been one year ahead of the game by December/January: in a position to sell or develop.
Average to poor performance in my view, what do you think?
What? You must be either IQ deficient and/or plain angry. Everything in E and P is probability related.
What is your view of the probability of the various future events being successful or not?
Morally bankrupt, ludicrous comment frankly.
Gudin with respect read the RNS, the Griffster clearly stated that delay to start would be reported to the market. Of course he get's to decide what the definition of 'start' is! It could mean day 1 penetrating the well with the CT, first firing, flow etc etc. It's his call, within reason.
We can't be certain and I may be wrong, that is what E&P gambling is all about at this level right? Is this now a delay?
I'm going for 5/2 technical difficulties, surmountable and 3/2 ambiguous or less than optimal results, possibly requiring an EWT which may be difficult as could require a lengthy flaring permit.
All just for amusement, sheep please lighten up a bit.
I wouldn't be reassured Mr A, quite the opposite. The commerciality risks may reduce and I welcome the initiative for a third party to develop a CNG business. It could take several years for the upstream side to reach profitability as CNG at scale, new to Morocco will require patient salesmanship to the industrial customers, requiring them to lease or buy expensive equipment and security for the high pressure vessels as each one is basically a huge bomb.
To recap I think there is a good chance of success for PRD in Morocco but it could more of a long term ie ten year investment. Who knows? We are still waiting for test results which will have only partially examined each well.
Bit unfair
Guercif is an olive growing area with an academically published chronic water shortage. Growing quality olives requires water particularly during the ripening phase.
Sandjet requires additional water to that required by water based drilling mud, a fair amount! it is virtually a proppant squeeze. Here in the UK fraccing is defined by required water volumes, quite recently Egdon carried out a proppant squeeze, it involved a large volume of water.
I've lost interest in the Griffster btw, observing operations and calling placings was amusing at the time. 8/10 correct if I remember rightly.
I mangle my brain twice a year when the clocks change but the extra hour to Monday's bell gives you more vodka imbibing time.
It could be a penny share record percent loss? Let's see...I mean it should not hurt if you are diversified right?
So they have flaring permission?
Fair point but safer money can be made from early takeovers, unitisation agreements and expo drilling failures than to holding for dreamy finds and pie in the sky future valuations.