Member Info for NigelHaemoglobin

Agree Exelcior, the latest pseudo-mathematical tosh is to take a prospective resources estimate and average the volume over a licence area.

Primary school arithmetic and of virtually zero use.

Now you are raving wack, I'm just a PI like yourself. What sales targets haha! barking...

GRH your ramping is disgraceful.

When MOU-1 gas shows were quantified in parts per million what do you think one million minus PPM relates to? Solid rock? There isn't much fresh air down there dear boy...

What on earth is 'volumetrics' haha! Do you mean weights and measures? million cu ft, billion, trillion?

Didn't we learn this when we were eleven you gibbering flan haha!

All companies have their own style but here is a good example, but look! Even with good news the financing terms were pretty dire.

https://www.investegate.co.uk/sound-oil-plc--sou-/rns/successful-nervesa-well-test/201309040700061633N/

Sorry weak sell, not buy.

Total waffle HRH, I challenge you to define exactly what PRD have in Morocco and how much you believe it is worth!

As for your hint that royalties could be paid, not worthy of comment...

Interesting post HRH, some truths amongst the waffle.

Two major points of contention, firstly you cannot spin PROVEN into a DISCOVERY: no discovery has been declared! This is the major point.

Secondly 'debt free' is somewhat pernicious, PRD have nothing in Morocco which would attract reserves based lending, banks require regular repayments and booked reserves. The best that PRD could get is a junk bond with a truly rotten rate >15%, even that is doubtful. Surely the only recourse for funding is more dilution?

Please guys do your own research and develop some self reliance...

Bond all newbie investors should be demanding that Paula Gonad shows his exact working re management chance of success probabilities! Tbh I've been doing this too long to be sucked in to this sort of nonsense: please remember that a GCOS is the product of four variables, to arrive at Predator's estimates all variables would need to be >0.8, these are appraisal well levels of geological confidence and totally unrealistic for an exploration well, drilled on 2D seismic and some reprocessed info from a 1972 well some 2 kilometres distant.

Bit of a waffler old Paul...

MEM, instead of being spoon fed by HRH why not do your own calc re todays' cash position? I'm going for £1.6-£1.7 mil after payment to the rig outfit and allowing for 6 months M&A and say 250k investment in CO2 so far this year.

The cold hard fact is that we need significant fund raises imminently ie prior to MOU-4. That said can the BOD bring in another partner to Guercif? It's certainly possible.

Adjusted holdings accordingly.

The SP is definitely not a sideshow, how much money is left and how will cash be raised in the near future?

Presumably by the time honoured method? Placings...

HRH (sic)

How on earth did you manage to arrive at a porosity for TGB-2a? Extrapolated from GRF-1? I cannot see any info in the MOU-1 update.

As no form of physical testing or coring has occurred is it not difficult to infer a porosity?

Are you waffling?

Agree Clueless, obfuscation though which we discussed before isn't quite the right word as there is no intention to confuse in my opinion. If you want to read true high octane waffle try the old BPC RNS's hoho!

One of my early attempts at trading/investing in E and P was the Sea Lion field appraisal, there was the usual choir who led from the front until things looked dicey.

The choir then ate all the sheep.

There were a couple of genuinely honest and intellectually rigorous types though who knew the business very well. Better than that Dave Bodecott't RNS's had a certain directness and clarity which was fairly simple, with basic knowledge of the SPE manual, to interpret.

If Paula Gonad evolves into a waffler I'll certainly stick with it but wager/punt less in the future.

I remember Paul's wee talk at Oil Barrel which was fairly believable unlike some of the AIM cads and blatherskites who serially rob their investors.

Can't remember if we have a long term exclusivity agreement re Carbon Dioxide though, will have to dredge the prospectus etc again.

As always in our own opinion and please DYOR.

Indeed Sylvias

An even better outcome could be to increase, appraise and sell LOGPs' C2. The most optimal is to hold until FID, then C2 is converted to P2 under SPE guidelines therefore $8-$10 per bbl is on, equating to a very healthy sp!

Androcles

1.86p you mean? Let me help, Santander offer several safe accounts...

He did 'come out' and admit to a visceral loathing of engineers, I'm an engineer (not much choice given Northern Comp education). Had enough of carrying public school swine on my back to be honest!

Stuff Sefton and his pink gin swilling ilk.

blissful you are on my 'A' list, absolutely spot on. Try explaining what is happening to Sefton82, he sounds rather 'tired and emotional', to coin Private Eye hoho etc etc.

Either that or too much time in the rogering barrel at public school?

Blackdog, firstly thank you for your reply. With regards to my good news opinion my view is that major and highly visible major, super-major and national oilers have to both appear 'woke' and back up their pseudo progressive attitudes with actual policy change.

The reality is that we are in a thirty year energy transition period therefore less visible companies may benefit from opportunities relinquished by aforementioned majors.

This strategic overview has zero to do with MOU-1/Guercif etc.

If chemical energy stored in Barryroe can be converted into electrical energy supported by CCS and pollution negation processes then the value could be colossal.

All in my opinion and please DYOR.

Ok, for the hard of thinking and for one last time before beer 'o' clock...

Let us discuss Guercif alone.

You are being played like a banjo tmh, it is quite simple: you, are an investor in a micro E and P which has just spent a huge amount of its' available cash on an exploration well. In spite of the CPR and PSC info our hopes were that a commercial gas discovery was made, then we could have raised $10-15 million for appraisals/3D seismic easily.

I'm bored of you now so no more free info. Where is the money which we require to drill at least MOU-4 and preferably two or three more wells going to come from? Is it effectively us when there is another placing? How much money would you have saved if you were more sceptical of MOU-1?

Try taking fish oil and do some puzzles...