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From the gun test fail rns.
'Mobilisation of the Sandjet crew and equipment will occur shortly after Petroleum Agreement Amendment #4 has been ratified and all necessary regulatory approvals for Sandjet rigless testing have been received. The time framework for the Phase 2 rigless testing programme will at that time be updated'.
Unless we know where the kit and team is we have no clue when ops will start.
I'm genuinely interested in PRD, just want them to get past the clown show and placing period.
What a pain though, would have to set a 0530 alarm or rail down the evening before.
No need to apologise GRH. As a very experienced investor who delights in posting photos of the meet with the most charming, honest and noble King of the Sauds what are the downside risks of investing in PRD.
I have never seen a single one.
What has caused the lack of ambition? A slow burn ground up CNG business rather than planning for huge flow rates and connection to the MEP? There is ullage obviously but a reverse flow of the MEP under the Med due to the Enagaz contract. Still 10 years to run on that deal, no idea what early contractual exit fees are.
Tovoc fair point until the crypto-Marxist government in waiting eat the golden goose. They will squeeze onshore and offshore O and G until it is only just investable by a very few companies.
That's one way of looking at it legache but if my buy price of 23.5p increases by a factor of three and they pay 4% then I am making a de facto 12% and retaining a margin of capital safety.
Mmm 'politically stable'.
Equatorial Guinea: politically stable in the manner of North Korea.
Ireland: effectively run by dope smoking greens so deluded by net zero that they avoid the issue: gobbling up Methane from the interconnector and at grave risk of being suckered into an LNG terminal with a decades long supply contract.
The UK: on the cusp of a woke crypto communist government who with TAX THE PANTS off the O&G industry to pay for welfare and detached homes for the various tribes that pitch up here.
That said, the first two geographies do have potential.
Tmh now you are beginning to rave, paranoid even. At no point have I ever claimed O and G industry experience, just another investor albeit a very cautious and sceptical one.
There are very few directors in this 'colourful' business that I would lend a single bus fare to.
Which is bit dim looking at the scale of Brazil's oil reserves haha.
Good research PoC, I did not know that there are operations in that area.
Mr Cups, yes you are totally correct, thanks. What is the destination of the Valaris Renaissance? Initially it appeared to be heading South but may just be on a sea trial.
Either way I wish the Argentinians success with their various licences. Majors paid a fortune in the licensing round!
Go and live in Scotland Lardlepool Bob. There you can have great fun denouncing people under their swinish new blasphemy law. Stasi material.
Certainly, have som Skunk
Salient Knowledge Usurps No 'Kinidea.
Drillship on location at Argerich-1 within 20 days, let's hope they find something. As for funding BOR is unlikely to let the cash balance drift below £1 mil. Sorry Gus, Howard's holding alone will defeat a few PI's.
PG really ought to fundraise from the forthcoming probable (according to PRD) SJ testing success. That confers flexibility and money to progress Ireland and T&T.
Why don't PRD focus on raising the Corrib South LO to an FEL and stop raving about an FSRU in order to focus on developing indigenous gas from Ram Head?
Honestly, I would call in a consultancy to provide guidance. He must develop honesty about his senior citizen status (which I respect).
They had a special relationship in T&T, summarily booted out for a time!
Good posts Munnie, yes I'm more than aware of PRD's placings 'strategy', free to view here but called 4 out of 5 of them within two weeks inc a couple in the same week and one on the day.
Back of the net!
Made a schoolboy error on placing #5 as they were actually drilling at the time....doh.
Not interested in wildcat #5, it is for extreme gamblers but is it really 12% GCOS? Extraordinarily low, almost a basin opening gcos and to be fair Predator have most definitely backed up and improved upon the decades old predecessor well. GRF1 was it??
Quite soon the company will need money, all you will achieve is to bring the placing forwards, thus diluting you.
A better idea would be to respectfully ask for an open offer and be prepared to fund your offer shares.
Jimmy, until I became bored of speculating about placings if you had traded around such opinion your position would probably be in profit.
In other words you would have a margin of safety protecting your capital. Not a criticism, you are one of the very few who play with a straight bat!
Good news but it would be advisable to launch a placing after the first or second hopefully successful SJ flow test. The proceeds could help fund CNG FEED and underwrite probable MOU-5 failure (unless an independent GCOS demonstrates otherwise).
No more jokes about cricket, some specious little ballerina had my post removed haha!
But does Keith play with a straight bat? Having watched most of the Ashes matches from the mid seventies until the early nineties I'm not so sure.