The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
No Jrl that is Socialism, sorry.
You have just been offered 154 mil for, unless I'm mistaken, two prospect areas and an ancient discovery which occasionally belches oil in a garden centre somewhere in the North Midlands.
I mean, this ticker has been available down to 0.3p! I would have myself sectioned for not taking up an offer like that. OK if the BOD are talented enough to bump it up to 16/17p then you are indeed very lucky gamblers indeed. I'm not in but will be v happy for you.
1/ There has been a failure to coordinate the Sandjet system equipment and personnel with the wireline logging outfit. Could this happen again.
2/ How long does a typical CT explosive gun based well test normally last? We are discussing only testing a number of targets.
For any other experienced E and P gamblers here we all know that evidence of success can be fairly easily detected in trading patterns, evidence of failure not so easy as a level of ramping is invoked allowing experienced gamblers to ease themselves out of a position.
By pure semantics, from the last ops update.
'Rigless testing MOU-3 using conventional perforating guns is currently forecast to begin on or before 16 October 2023, assuming that the wireline logging unit is released from its present contract on or before 10 October 2023. The Company will provide an update if there is any change to this date'.
So MOU-3 will have several target horizons tested using explosives and then at some unknown time in the future the Sandjet system will arrive.
Why all the delays though? Morocco is somewhat corrupt but better than most in the region...
"https://en.m.wikipedia.org/wiki/Corruption_in_Morocco"
It's fascinating to observe tbh.
Way too early if I may say so, these outfits are very dependent on the confidence of savers.
Dealt with two slimy weasels from this outfit, the first did ok but did something very oily when I attempted an advisor change due relocation. SJP advisor #2 was so greasy that I only met the stoat twice before abandoning the mess. Never been happier managing my own pensions.
I've seen some salesmanship in my time but SJP really take the biscuit.
OLADA, you have 26 ticks for your post: well done! Have you forgotten about the 12 year deal signed by Shell to provide gas from imported LNG into their enviable gas network. They have around half a dozen LNG regassification plants. The Qataris (should it be them) love long term deals with huge exit clauses.
Hilarious really, at least another 26 have no idea either! Afterthought, does PRD have political risk insurance?
Androcles, welcome back. I'll give you a mini appraisal for free. Peter Brailey is a 'one percenter' on the bell curve and I don't mean on the left side of the graph, very smart: even consulting as an engineer for F1 Honda at one point.
As for Pilbeam I was frankly appalled by those director sells within literally trading hours of a placing but wait, we know much much more now about the entity that is PRD: could his decision have been an ethical one? We will probably never know. I'm not wealthy enough to short particularly given the nature of Guercif and the possibility that it is both large and commercial.
Peter suggests that PANR, PRD and PMG are shorts, certainly his complex thesis and short of PANR has yielded colossal profits (I expect). PANR was certainly helped down the slippery slope by the tribes of emotionally labile bulls, think Sefton for example.
If PB wins two shorts out of three then that is good but as you know Andro it rather depends on hedging strategies.
So you would be happy to re-elect Jo Biden?
Reviewing RNS's (for what they are worth), presentations and actual management performance is it time for a change? Any views? PG must surely be giving consideration to retirement.
Findme I would have to check what happened the time Griff changed his mind before this time. Certainly permissions are required to move microscopic quantities of perforation explosives: my deduction is that movements of 600,000 cubic feet of Methane by road will require licensing and security, just an opinion!
You couldn't make it up Louis, standard explosive perforation cancelled due Sandjet being a better option for 'unconventional gas'. Then Sandjet kit with personnel sourced (how far did they get?). Now explosive perforation is absolutely fine for some horizons but will require new approvals from the capital in order to escort the fireworks to the arid, water starved olive growing region of the Moroccan Orient.
It's a panto with Lonny as the chief dame.
Oz, nothing if not totally pedantic matey.
Merely offsetting the love boat which you are in with the Grifflet.
PRD lost control of correlating and managing Sandjet and their wireline equipment and operator hence they have reverted to blasting voids into friable sands.
That requires permission from Rabat and military escorted quantities of small masses of relatively low explosives. More bureaucracy, more management, more money. Did Sandjet and the wireline operator invoice PRD? I don't know, do you?
If Rabat insist on military escorts for tiny quantities of RDX or black powder what will they require for the type of village flattening boomer 600,000 cubic feet of 250 Bar Methane?
Try thinking? I've been to most MENA countries, their militaries are 95% useless: I have competed against a few of 'em. Just friendly small arms competitions.
But any prospective partner will want a huge discount due lack of 3D seismic!
The Grifflet has had over two years to action a seismological study since MOU-1. Yes of course the next licensing phase will require more imaging.
Unless it is compartmented.
Imperative as you will create an idea of what a potential deal may look like. Consider the cost of civils, gas processing, pressurisation and charging of tanks equipment.
'x' million let us say 6-8 for a two tanker facility.
Tankers, work up to say 10 over two years?
$750,000 each plus entry VAT.
Crew recruitment, training, salaries etc. Your call, hard to say.
The value of the load, for a 430,000 cubic foot tanker about $6000?
Security for the tankers, I would put a brick of four on this task with two landys i.e half a section. A bit on the low side but pragmatic.
By the way, a military escort was required for probably no more than 3-5kg of RDX for the original perforation plan.
I do not see a substantial margin for PRD but happy to be corrected by non-loons, non-salesman types.
No need for capitals Oz(strich). It is possible that an O and G company would farm in without well testing (particularly Extended Well Tests).
Improbable though.
It is possible that an O and G company would buy in on the basis of decades old 2-D seismology.
Unlikely.
Surely you read the presentation last year when a CNG project was planned for....err about now?
It's a classic error investing too early
Finally Ireland is beginning to realise that natural gas is the fuel of transition. EOG have an FEL, cash in the bank (growing), revenue and a massive medium risk prospect well within tie-in range of Corrib.