Member Info for OLADAPO007

Hi Matt,

If the geology is similar, I believe a similar problem could be encountered hence my worry.

Has a solution been found for the problem at MOU-2 yet or why are we going for MOU-3?

Hoping the geology would allow completion in the MOU-3 section.

What if MOU-3 brings the same problem in MOU-2 or is it a case of that could never happen? No solution published yet regarding MOU-2.

20TCF Keith, 20BCF not worth fighting over :) .

The good thing about GRH is that he is one for everyone's good. I remember him from the GKP days giving serious advice with a tinge of humour. He definitely is a genuine guy and hopefully the guys whose main talent happen to be in insulting would stay off his back. A gr8 credit to the board he is!

Great write up BRVAL.

As a deramper, Charlotte is relentless! :)

Who are these bond holders? :)

Trinidad would be paid for from proceeds of oil sales there when it kicks off.

They reckon because of the pressure that MOU1 Couldn't dissappoint!

Sounds like an almost riskless operation from here if they are able to get the methodology right!

Resumption is when? A presentation for 1st Feb has been scheduled meaning resumption is after that date or PG is gonna be there to tell us that the seal is intact with huge gas underneath and state his approach to tapping what is the huge gas there.

Basin edge hence 21m I guess. Further into the basin could be better one of the directors did mention he would be happy if the opposite were the case.

In the absence of any further development taking place in Ireland, best to hang on in Morocco creating as much value as possible using CNG revenues for drilling and proving up as much as possible!

Aimster, what is your targetted low buying in price which would be derived from this deramping effort of yours? Now be honest!

Hoping the DEFRA or who ever it is give approval soon.

Hi Keith,

Regarding the 1000 m or ft. The moment he mentioned it the first thing I thought was 100m? That's half of the 2km column of oil discovered at GKP. I thought I heard metres but then I guess after a few glasses of white wine who knows what I might have heard? I believe someone also heard the same who has also said exactly what I said but there is a chance we both on the white wine that was flowing freely there with a willing and great quality staff team ready to tip more of the stuff into your glass :) .

I also asked about the areas to be given up ie the 25% of the acreage and I was made aware that Paul might have decided on those but they won't be given up until 2023. However ,Lonny wasn't really bothered as he said ''We have more than enough areas to achieve what we want''. I then proceeded to ask him what would happen should they want those areas instead of giving them up and he said that would involve new negotiations and eventually a new contract and all that.

With patience and hard work this field should deliver.

Great presentation no doubt. Lonny I spoke to for sometime and was convinced that we have a great oil guy in our company. I spoke to him at length and also discovered that the Guercif block used to be the Old Merada block in the days of Fastnet, damn, were it not for a lack of finance in those days think of what might have been. So far we are looking at $1.3bn from a small part of the block, not bad Eh.

Sorry Lonny if I came across as asking you a lot of silly questions but I had to having been stung by the GKP experience, but on this I feel I am dealing with decent human beings who would deliver majorly. I am convinced that going forward they would deliver big cashflows on the CNG which would then be used to continue the exploration.

With what they have found so far on MOU-1 Lonny is convinced that it is commercial and this would be further demonstrated when the testing takes place of it and MOU-2. They potentially have I believe u to 230 clients looking for gas, their business model is quite socially friendly and would help the Moroccan economy no end in that they have a sustainable model which is not into pricing their products to kill their clients.

As the field is quite large they have areas that farminees would deal with while they continue with their work . Going further there was an allusion to a 10% probability of coming into a 1000m oil column which he mentioned needed to be planned for so as not to meet surprises down the line.

I tried via various crude ways to get him to come up with figures regarding what sort of figure overall he expects the field to contain , on that he wasn't talking at all. He radically changed the way drilling was done in Morocco via import of technology from his Canadian contacts . A great person to relate to , a great explainer and listener .

The payback period on loans for developing the CNG would be short going by the returns it would generate , were they to decide to go into the business of paying dividends they definitely would have the cash to do so.

Goodnight folks , it has been a great evening. Thanks to LB and PG.

4.8tcf on a conservative basis would still give more than the £27+ per share that GRH's Michael Caine came up with even including full dilution of around 380m shares in issue. That basically is just from one small area, Looks like this field is littered with all sorts of prospects as well .