Member Info for NigelHaemoglobin

Raving

No collusion here, defamatory in fact. Stick your dummy back in.

PRD has gone FOMO critical, which has been the intention of the multi platform ramping. The first well remains untested after two years, well #2 was mostly a fail, #3 looks ok but untested.

They were going to use military escorted explosives to penetrate the casings but flip-flopped and are now going to use high pressure sand and water (sounds familiar right). There was a financial atrocity with a director selling bucketloads of shares within trading hours of a placing...he left...

That said, they could do very well but the management is too 'single crew' for me, a couple of NED's and a drilling bloke who has a place on the board.

Char, Sou and ENAGAS/Shell all have contracts for the Maghreb Pipeline in one form or another, PRD should get one as plenty of ullage remains.

With more logic the investor base would be different but overall there is a reasonable chance of success, they proposed first CNG by Autumn this year in a presentation, chuckle factor there!

(in)dissipline

I can't speak for Page of Cups but I suspect his BOR average is well sub 2p.

Top tip for the raving here, reduce your averages by actually selling and buying? Basic equity management? I bet most board 'gurus' do it all the time...

Thanks Jon

Finally someone with a functional central nervous system joins the debate.

Welcome!

Harrison, far enough but YOU NEED THE BLEEDIN' PIPELINE!!

pure gkp type hype donal, bit of a new boy aren't you? there was this wondrous spreadsheet type program called 'spidymonkey nav calculator' pushed around the *** end pickers and kestrel drinkers: basically, plug in (if i can be bothered recalling exact details) stooip for the various fields, the rf was done for you and hey presto your sp was displayed for you.

no one monetised their holdings at those outlandish figures but many traded on them, including several here i wager...

Still, great traders share eh?

Oz what tosh, the Moroccan government justifiably panicked when the Algerians reverted to the Medgaz European supply pipeline.

From Oz "The Shell agreement is for CNG, that arrives by ship to a port that is not yet built."

Utter tosh, ENAGAS have the most flexible gas infrastructure in Europe, LNG (not CNG) is regassified at Huelva and flows south. The Algerians even insist on molecular analysis of MEG gas to verify that they are not supplying their loathed enemies.

For your 50MMcfd with 7,500 M3 CNG trailers how many trailer tanks will require filling each day?

Have a few more tinnies then try and work it out...

This is madness older-wiser, how long will it take to build up a 50,000,000 cubic feet per day CNG business? Firstly you have to persuade businesses that time honoured LPG and Gasoil fuels are lesser, even though they are both really safe and cheap to store.

Have you any idea how much it costs to lease a CNG tanker? Way more training and explosives regulatory issues to wade through.

How many 7,500 M3 tanker loads equates to 50MMcfd production? Go on! The arithmetic is year 9 material haha!

Unfortunately appears to be running out of energy. Bloody CEO, what an utter plank with the IQ of a cheese sandwich!

Plenty of potential here, absolutely never denied that but CHAR and SOU already have 30+ BCF signed or about to be signed.

Shell have a 12 year contract (from media sources) to flow large volumes Southwards via the MEG.

All of the above is sufficient for ALL of the pure gas and CCGT gen sets in Morocco.

Get on with the CT testing and Sandjet sub-frac perforations, no more delays!

The problem as I see it is PG does not have a decent board, a group of switched on people to bounce ideas off...

1,3 and 4, 2 was the disaster well.

Hi Donal, there comes a point in the life of an E and P where what they have becomes investable, bankable if you will. Prd tests are now massively delayed, first CNG (bomb trucks) was pencilled in for THIS SEP!

At the moment financing is pure junk here.

Hard to be certain but if Anchois can guarantee 100MMbcfpd the project is likely to be investable.

SOU are on the cusp imo of a sizeable bank investment in the project.

PRD CAN get in to this extraordinary market but they have to start making rational decisions, test MOU1,2 and 4 and shoot 3D immediately.

I am 70/30 CHAR/SOU and await my FID re PRD after testing. CNG is a new market, huge multi Bcf power stations are going to be built in short order, that is where the money is.

Sound have a ten year GSA to supply the Maghreb Europe Pipeline and a priori the Ain Beni Mathar solar/ccgt power station. My view is they will take on Methane supply for the forthcoming Al Wahda CCGT which will require four times the gas volume of Ain Beni. They have land permissions and an EIA for their pipeline to connect Tendrara to the MEG.

Flowing the opposite direction Shell have a 12 year contract to flow gas Southwards via the ENAGAS network to the MEG, my view is that such gas (sourced from the Huelva LNG terminal) will fuel the planned Oued El Makhazine thermal power station and the planned Dhar Doum 4*400MW station along with the existing Tahaddart thermal power station.

There could be an opportunity for PRD as some ullage remains, clearly the MEG will be tactically capped to separate the oppositional flows. IF Moulaya flows well the game plan could change but my above thesis perhaps sheds light on the rather boring and long term CNG project envisaged by Griff.

Major pipeline flows to major gas thermal power stations are the key to unlocking value.

If I am not mistaken Chariot also have a GSA but need to check.

Tough biz to be in...

Is that correct Highland? I was under the impression that institutional investors are permitted far greater access but have to retain extreme probity.

The twerp has

1/ Threatened me with 'the facts of life' in a corner, I'm no boarding school type but oooooh missus!

2/ Implied that I would have been euthanised by the Queens Alexander Royal Army Nursing Corps. My discharge cert clearly states that I was alive on leaving.

3/ Has a delusional belief that there are multiples of me.

A low dose SSRI may be useful.

Correct Keith, well done! sand jetting requires an enormous volume of water. Not much H20 in the Guercif municipality, abstraction has lowered the water table considerably. Perhaps PRD could drill a water wet drill? Different source of water right? You're the geologist not me.

According to last Septembers corporate presentation it was suggested that CNG long lead items would be onsite now and that an EWT with CNG sales would commence in Q3 2023.

What about permitting though? Morocco is becoming well developed now.

1/ Do the local town authorities require disaster management planning approval? ie a comprehensive evaluation to guarantee certainty that local fire services can not only deal with a blowout and Methane fire but retain sufficient coverage for the local population?

2/ Would a Field Development Plan concept study be a good idea to run concurrently with the EWT?

3/ What is the immediate market for Methane locally or will the gas, for the moment, require offloading some distance away. Rabat, Casablanca, Marrakesh, Tangier etc etc.

Thank you Jimmy, my mistake: the bombshell was in the presentation which you quoted 'The unconventional low gas saturation flow testing is mentioned by predator on page 10 of the may presentation, 45 meters of 300 meters gross of 30% gas saturation I believe'.

Not in rns issues, I did attempt to trawl through the opaque waffle.

Sefton have you learnt ANYTHING at all from both this outfit and PANR??