Member Info for NigelHaemoglobin

Anyone else able to make rational decisions re buying and selling during the wait for good, indifferent or awful news?

Not many!

Well done Mk1, fixed rigid by the endless happy clappy BS.

Go for it, the FCA are a tad overloaded though.

Search Island Oil and Fastnet Oil and Gas, both entities were managed by the current MD of PRD. Around two decades pecking around in Morocco, maybe it's the food? Other rns sites have the full history...

Also and I'm sure you have already, conduct a full analysis of PRD rns's with particular regard to director sales and placings...

The rampers have the floor and want to retain it, no matter how bovine and medieval the put downs and 'sending to Coventrys' are. Sold down fractionally today, very hard to determine when or indeed if the spud has occurred.

Just go back to BnQ and wander around for a while Bob, leave parasitology to the experts.

Splice, thanks. Many here probably drone on about free speech but curl up like hedgehogs when such freedoms are invoked!

FYI it is not my intention to be wholly negative on the issue of cash but it must be accepted that v small cap oilers generally do not have either millions of dollars as contingency or indeed banking facilities.

Of course a lengthily delayed well is almost always bad news, we are paying a day rate. That said, if the drill is genuinely tight (rare) then a side track or more detailed evaluation of a discovery could be ongoing.

The caveat of course is how the contract is drawn in terms of equipment failure ie mud pump engine failure is the responsibility of the rig company, downhole tool failures may not be covered.

Excellent post C7.

Jimmy in a way you are correct, depends how your semantic style is interpreted. As C7 would know, resources are only upgradeable to reserves when finance is in place. I have no issue with your logic but the latest SPE manual revision is very clear.

I would really recommend a visit to the Hunterian in London, there is also one in Scotland? Not sure. As for your doubts re a colorectal consultation I would accept it for at the same time you could commence speech therapy due co-located communication orifice.

By the way Monsieur Valhalla, you asked me where the GCOS metric was within the CPR and I was gracious enough to inform you, thus saving you from experiencing intellectual difficulties from reading a 54 page precis...

Ah that pointless q again, Zeus just take on the points as they are raised. Does MOU-2 have a GCOS or is it a simple case of testing a range of C2 values. Is there an emergent resource nationalism? Why did Pilbeam sell down, when was MOU-1 completed? Is there any security for the wellhead left in-situ?

Graduate engineer to age 30, not O and G.

Most MP's are not worth listening to but a few are, rarely do the issues involved correlate to their own degrees or backgrounds.

Incidentally my points re propaganda are universal, referring to no one in particular. I honestly do not understand why you are investing/gambling here, appearing to have little idea of the risks involved.

And for that matter go and start your own thread rather than throwing jobbies around on mine, have you considered just moving to Twitter like the chief salesman?

Classic car, interesting choice...you are not filtered as I believe in free speech.

C7, the SPE manual should be the first volume read by any E and P investor but just to correct your error: each well has a GCOS but this becomes less statistically variable as the exploration and appraisal evolves.

Your inference that MOU-2 is already a discovery is nonsense, no matter how much tendentious twaddle you use for padding.

Departed from PRD, not deceased.

Ran out of space, read the risk table. This is an almost completely different subject to commercial chance of success. No one from the happy clappy "I'm a vegetable for PRD" herd ever post about placings, resource nationalism (emergent in many nations), the Maghreb Europe Pipeline closure, odd behaviours in now departed individuals etc etc

carjcarj I 100% agree with you, total twaddle.

Just read p23 everyone, completely clear.

"Table 7-1 MOU-4 Prospect Risking
Structural trap geometry and effectiveness of fault seals are the primary prospect risks. The Lower Jurassic Toarcian source rocks are lean and require deep burial to generate hydrocarbons. Tertiary Neogene gas plays are commercial in the analogous Rharb basin, to the west of the Guercif basin. In the Rharb basin good seismic, processed with Kirchhoff PSTM and AVO has resulted in a remarkably high discovery rate.
Predator has mapped the Tertiary MOU-4 Mid Late Tortonian Turbidite Fan Prospect based on seismic amplitude anomalies. The best case gas initially in place (GIIP) is calculated as 595 BCF based on an area of closure of 31.7 km2 (Figure 10). The closure is supported by clear seismic amplitude anomalies seen on 2003 vintage data. Sixty five feet of net pay is assumed based on log data from Anchois-1 reservoir sands, an analogue for the Guercif Mid Late Tortonian Turbidite Fan Prospect. Average Porosity is assumed to be 25% based on a Competent Persons Report on the Anchois Discovery for Chariot Oil and Gas Ltd (Netherland Sewell & Associates, 2019). Average Gas Saturation is assumed to be 66%. Traces of gas are recorded on the GRF-1 mud logs. Lower Jurassic source rocks are present in KDH-1 and are interpreted as having entered the dry gas maturity window by the end of maximum re-burial during the Tortonian, prior to post-Messinian basin uplift. A gas expansion factor of 140 was used. Depth to top reservoir is about 1,475m. A 66% recovery factor was used.
The GIIP is considerably higher than the P10 figures of 41.7 BCF gross quoted by Circle Oil for structures discovered by it in the onshore Rharb Basin. The Rharb gas discoveries are individually small but the high drilling success rate (7 of the last 9 wells) resulted in a number of small producing fields making the prospect economic. Furthermore, gravity, magnetic and seismic data indicates that the Guercif Basin it is more likely to contain larger structures than those seen in the Rharb Basin. Stratigraphic traps can be identified by amplitude anomalies in Tertiary turbidite sand lenses in the Guercif Basin permit area.
The Guercif permit area contains marginal contingent resources, development pending, as defined by PRMS 2018. Contingent Resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations by application of development projects, but which are not currently considered to be commercially recoverable owing to one or more contingencies. While the MOU-1 well has encountered gas shows in the distal edge of the MOU-4 submarine fan identified by seismic amplitude anomalies, further analysis is required to establish a known accumulation. Petrophysical evaluation of the low resistivity gas pay encountered in MOU-1 followed by a well test could further de risk the MOU-4 submarine fan seismi

Whatcha Splice

The loan was purely due to regulatory issues which did not permit the required placing size, PG loaned money equal to the missing segment in the Aug placing.

Again, if anyone disagrees please correct!

What is know though is that many have an agenda designed to suppress selling, the idea is to create artificial sp inflation and profit from it. Even some industry experts have zero interest in what is below the surface!

Hello Zeus

Read page 23, cheers N 'Globin