Great post by BRV reposted25 Aug 2023 15:58
Apparently I'm to blame for inadvertently pushing this great post down the thread due to FUD
I unreservedly apologise to BRV and here it is again in full
BillyRayVal
Posts: 577
Price: 11.125
No Opinion
In Paul's own words...Today 13:53
Afternoon all,
While we wait (patiently!) for an operational update, I’ve just been reviewing the recent RNSs and also Paul’s chat with Proactive last month. With so much newsflow in such a short space a time, I find it’s often easy to forget some of the detail, so I thought I’d just take a few moments to remind us all of some of Paul’s comments made during that interview:
https://youtu.be/thyYwq0VXTA?si=Ddji9eyuhFKOwIcG
(There’s a full transcript on my posting history (16th July) should you want to review this)
MOU-3:
“And what was amazing about that well was that EVERY SINGLE TARGET we passed through, there were some indications of gas…”
“...confirmed to us that the overall structural picture that we had decided to test in this particular well was VALID right from the top of the sequence to the bottom of the sequence.”
“And, importantly, it showed that gas had migrated all the way up to the top of the section to 339m.”
“As a result of that we had 44m of likely gas sand based on the NuTech analysis which was FAR IN EXCESS OF OUR EXPECTATIONS.”
“So, a PHENOMENAL well for us in terms of our expectations pre-drill, far out-weighed what we actually ended up with.”
“MOU-3 has basically UNDERPINNED OUR INITIAL CNG DEVELOPMENT...”
MOU-4:
[re the Jurassic] “So when we completed that well we had VALIDATED THE CONCEPT, we’d VALIDATED THE SEAL, through NuTech we saw RESERVOIR DEVELOPMENT and also NuTech said there was also LIKELY GAS there.”
“So although we’re excited by CNG development… we are MORE THAN EXCITED by the Jurassic which is a brand new play, everybody that’s reviewed what we’ve done at present recognises the potential of the Jurassic structure. So, ideally, we’d be looking to appraise that this year, in a relatively cheap well because we can drill these wells in 7 or 8 days at most”.
In Summary:
“… a FANTASTIC result for CNG initial development, but an UNEXPECTED HUGE UPSIDE [in the Jurassic] proven to be capable of being appraised shortly this year. So I’m VERY EXCITED for that. And that would be a gas-to-power project, potentially there’s just TOO MUCH GAS there for the CNG market.”
PRD has always been for me not just about the assets but about trust in our management (who I think are truly exceptional) and Paul’s comments speak loud and clear IMO!
I’m very happy to sit here patiently knowing that Paul and Lonny will undoubtedly be working extremely hard behind the scenes on our behalf. And in the meantime… I couldn't resist adding a few more this morning 😎
Enjoy the long weekend, all.
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