Member Info for Obadhia

BACKTRACKING

Columbus Acquires Steeldrum Oil Company 13/7/18

The Development Plan is based on the Snowcap Field discovery which was first drilled and tested with the Snowcap-1 exploration well in 2010. Upon Field Development approval, the existing Snowcap-1 will be re-instated as the first development well and further development drilling will follow. During an extended well test in 2015, Snowcap-1 averaged 120 bopd.

Columbus Energy’s Leo Koot on his ‘transformational’ plans in Trinidad 22/1/19

Meanwhile, Cory Moruga offers recoverable reserves of around 1.1MMbbls oil. It contains a discovery called Snowcap, where a well called Snowcap-1 has produced 11,400bbls of oil through testing. Columbus has been bringing Snowcap-1 online using existing cash resources since completing the Steeldrum purchase in October. In January, it announced initial oil production of 70bopd following the safe and successful appraisal of Snowcap-1 and another well called Snowcap-2.

(Thereon CERP focussed attention on their Goudron field and the SWP drill. BPC spent little effort on Snowcap, if any, and CEG less, if possible)

BACKGROUND

(moving forward, as per PRD release 20/12/22)

The Cory Moruga field in Trinidad was first identified by Predator as a prime candidate for CO2 EOR in 2017. An option to acquire Cory Moruga was outlined in the Company's Prospectus published in 2018 at the time of admission to the Main Market but was later dropped when the Company elected to focus on the Guercif Licence in Morocco.

The Inniss-Trinity pilot CO2 EOR Project allowed the Company to develop valuable CO2 EOR operational expertise and for it to establish exclusivity in respect of using the surplus liquid CO2 supply in Trinidad for CO2 EOR operations with Massy Gas Products Limited ("Massy").

The Cory Moruga field is under-developed as a result of which higher reservoir pressures have been maintained. This makes it relatively unique in Trinidad as it creates the possibility to execute a miscible CO2 EOR project to generate the potential to significantly increase the oil recovery factor.

Cory Moruga is covered by 3D seismic which shows less fault compartmentalisation relative to many other mature fields onshore Trinidad. It has never been water-flooded. This assists the development of a CO2 injection strategy to potentially maximise the effectiveness of the CO2 sweep through the reservoirs.

A small part of the Moruga West field extends into Cory Moruga. The ex-BP field continues to produce from the same Herrera reservoirs as have been encountered in Cory Moruga drilling to date. In 2017 the Company unsuccessfully bid for the Moruga West field, which was then owned by Massy. The geological understanding of the development and extent of the Herrera reservoirs in Moruga West has been invaluable in the Company's assessment of the growth potential of the Cory Moruga asset.

In JamesweTrust

I did not accuse you of running multiple profiles, simply as to whether or not you had posted in the past under the name I quoted.

Thank you for your time.

To InJamesWeTrust, are you the same person as Jamesiebaby who posted prolifically on ADVFN?

Paul's 70th birthday today so he's entitled to a day off - just the one mind you.

Had hoped he'd have targeted mind-blowing news for his special day but, well, best laid plans and all that....

An airplane was about to crash, there were 5 passengers on board but only 4 parachutes.

The first passenger said, "I am President Biden, the chosen one. The world needs me, I can't afford to die" So he took the first parachute and left the plane.

The second passenger, Eamon Ryan, said "I am the Minister for Environment, Climate & Communications of Ireland and I am the smartest man in Ireland's history so Irish people don't want me to die." He took the second parachute and jumped out of the plane.

The third passenger, John Kerry, said "I'm a Senator and a decorated war hero from the Army of the United States of America." So he grabbed the parachute next to him and jumped.

The fourth passenger, ex-President George W Bush said to the fifth passenger, a 10-year-old schoolgirl, "I have lived a full life and served my country the best I could. I will sacrifice my life and let you have the last parachute."

The little girl said, "That's okay Mr President. There's a parachute left for you, Ireland's smartest man took my schoolbag."

Merry Christmas to all PRD investors and a stonking 2024

We're very good on this board, generous even when it comes to providing reasons, excuses, for PG doing this or not doing that. Are we shareholders being purposefully kept in the dark for tactical reasons or is it the case of the usual dire lack of IR?

Split opinion as always, I'd favour the latter as it's the PRD norm.

But when we are brought back into the loop can we believe, trust, what we hear or read having been advised that testing of MOU 1/3/4 still on for July (RNS 27/6 following May PowerPoint presentation), still on track for Sept (RNS 30/8) and now of course asap Jan '24?

Overall we are a trusting lot, many in over sensible personal levels, so we've little choice having come this far so stick. Can't imagine PG/LB haven't picked up on the drop in sentiment for PRD, easy to improve matters in 2024 - here's hoping.

Last year, on the last weekday post Christmas, we received news that the rig had arrived at our subsequently ill-fated MOU-2.

News so near to the Christmas break may well get less market appreciation than one a couple of days before the New Year.

Sentiment-wise questionable but news releases arriving as per PG guidance are so rare that we should all be humbly grateful for such small mercies.

So, if no RNS next week, n'ayez pas peur, mes amis

certainly makes you wonder then as to why the plan is to sell up before the licence is more fully explored effectively swopping the goose that lays golden eggs for, in comparison, a lame duck.

'the cory moruga project is equally as exciting as morocco' - what absolute bull****e.

Good post Jimmy, a reality check.

To the late arrivals to this company take note that PG has a 100% success rate schedule-wise in over-promising and

under-delivering so much so that whilst holding belief in the amount of gas within the Guercif licence I've little faith in the timelines he publishes. Be aware.

Haemoglobin & Hartlepool, total balloons yet again fouling up the board with sad attempts at witty rhetoric.

Sling your hook both of you, your rubbishy posts do a disservice to genuine investors and potential new interest alike.

I'd like to know exactly what operations are being carried out on the ground whilst we all await the outcome of a presented MOU.

Prepping both 1 & 3 would have been completed days ago so what physical work is being progressed right now?

Correction MOU 1 & 3

Disagree with your interpretation davwal.

Once testing has taken place the results would be out in the open and could attract unwelcome attention/bids. Most of us on here expect exemplary results from MOU1 & 2.

But if we are sitting on an agreed deal in the form of a MOU a supply contract could be officialised simultaneously with test results.

For those that have been here less than a few months and struggle to post anything less than vitriolic remarks to those considered to be posting constructive comment consider PG’s message to shareholders RNS 15/12/21.

‘The Company's view is that it does not wish to be burdened with operating in Trinidad at the expense of efficiently managing it's potentially valuable assets in Morocco and Ireland where the potential for high-impact returns for shareholders are substantially greater’

Now, I’d be the first to admit that priorities, opportunities, focus all are prone to re-evaluation but when you own rights to such an incredibly huge and valuable asset such as our Moroccan licence why oh why stretch manpower and resources dog-legging to a part of the world notorious in which to conduct business profitably. Having suffered in LGO/CERP/BPC for 12 years and seen the difficulties, disappointments, delays, tax changes everything might look golden when unveiling the opportunity, MEEI support transformed etc., but reality soon overtakes. Had hoped this deal with CEG would break down and what was lost written off, lessons learned. IWP followed by FDP three years likely going on five, no thanks and very very few on here will stay the course. Differing enormously Ireland, Corrib South remains a great hope as an outright sell at some point.

I sincerely hope PG and Lonnie take note of the strength of feeling shown here today regarding communications with their shareholders because it’s very obvious credibility and belief has taken a severe tumble today. If you’re going to make assurances, keep them.

Well if there is news coming after the bell, maybe a suspension, (a distinct possibility at some stage), it would be the good reason behind issuing those options first thing this morning.

we should all be grateful that keithoz and jimmy23 post straightforward, educational and intelligent posts without the need for smart**** cryptic messages.

Four cables, each 3,800km long, form the twin 1.8GW HVDC subsea cable systems that will follow the shallow water route from the Moroccan site to a grid location in Great Britain, passing Spain, Portugal, and France.

Another example of UK's closeness of ties with Morocco.

https://xlinks.co/morocco-uk-power-project/

It was a rollover, costing someone £675 for the privilege.

Excellent Book of the Week by Ed Conway on BBC Sounds broken down into 5 episodes each 14 minutes in length.

'An epic journey through the six materials we rely upon to build our world'

Sand/Salt/Iron & Copper/Oil & Gas/Lithium

Well worth a listen, https://www.bbc.co.uk/sounds/series/m001qm3h

Highly encouraging to read Ryan actually quoting Kinsale as a potential LNG storage facility, at last just reward for PG/LB's lobbying? Finally we should see the energy security review declared in October.

Got a warm feel that our prospects for Irish business are about to turn genuinely real.

Many thanks PT for coverage, all shaping up for a mind-blowing Autumn.

Your turn now Trinidad!