The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
A few more days driving to break through the seal would provide another great data point for determining connectivity. What kind of conversations (with interested parties?) would lead to the reentry and completion of mou2??
For the avoidance of doubt, executing the rigless testing programme onshore Morocco remains our top priority together with moving to a CNG development subject to regulatory approvals. Everything is in place and all approvals have been received to commence testing. One final element in relation to our business development strategy for Morocco is the execution of a potential Memorandum of Understanding for gas sales. Our preference is for commercial reasons to have this in place before testing commences and we are working to finalise this as soon as possible.
If the terrible comms strategy (for us) were to remain consistent then perhaps testing has commenced. Obviously we don’t know unless we can get to the well sites. Who is the chap who lives in Morocco? Shall we do a whip round for a taxi?
The Company is also in discussion with several parties regarding the financing of the CNG development. Upon achieving acceptable financial terms funds set aside in the Company's strong balance sheet would be re-purposed for follow-up appraisal drilling - 6 weeks ago
Rhwillcoll
Earlier I was thinking…
What’s the likelihood that there is no pending MOU (made little sense as an excuse).
But Intent to test 16 Oct caused an advancement in negotiations for a transfer of MOU1,2,3,4. Negotiations have dragged on and resulted in the 7Nov update.
A deal is due to be announced but the MOU was only a smoke screen.
I would forgive Paul if this delay allowed for the MoU to include a route for also funding the CNG development. that would make more sense to me for allowing the delay - but alas, i think unlikely.
"The Company is also in discussion with several parties regarding the financing of the CNG development. Upon achieving acceptable financial terms funds set aside in the Company's strong balance sheet would be re-purposed for follow-up appraisal drilling."
Paul and lonny…
“Everything is in place and all approvals have been received to commence testing”
You cannot bowl any more curve balls after this statement. MOU signed, then test immediately without delay. And please ffs communicate that with a straight bat
The Company is confident that the testing programme will deliver the results necessary to progress commercial negotiations for the offtake of its share of future potential CNG gas from the well head.
Â
Rigless testing MOU-3 using conventional perforating guns is currently forecast to begin on or before 16 October 2023, assuming that the wireline logging unit is released from its present contract on or before 10 October 2023. The Company will provide an update if there is any change to this date.
Wholesale gas prices in Britain jumped by 16 per cent to top 110p per therm after Israel ordered the shutdown of its huge Tamar gasfield amid fears over attacks by Hamas. Tamar, operated by Chevron, of the United States, lies about 16 miles off Israel’s coast and is within range of rocket fire from the Gaza Strip. It is a big source of gas for Israeli power plants and industry and some gas is exported to Jordan and Egypt.
Tom Marzec-Manser, head of global gas analytics at Icis, the price reporting agency, said Tamar’s closure could have a “whole bunch of domino effects” and ultimately could affect the liquefied natural gas market on which Europe relies.
JStandMick - my expectation is exactly that. makes sense to site visit and plan the next drill while in country overseeing the testing.
Hoping that the coil comment was to provide some cover. News by Monday??
If I were Paul, knowing how much is at stake and the culmination of my life’s work, I would be in morocco to oversee the testing. I wouldn’t be anywhere else. If he is out of the UK that is a very positive sign of testing progressing imo.
GUERCIF rigless testing on track and scheduled for September execution
MOU-1 will be the FIRST well in the rigless testing PROGRAMME
Paul Griffiths, Executive Chairman of Predator Oil & Gas Holdings Plc commented:
"The Sandjet rigless testing PROGRAMME is on track and scheduled to be executed and COMPLETED in September.
My emphasis added - 12 days of September remain – how far progressed is the Programme Paul???
The phrase “near term” is used to describe and/or refer to a period that is not too far into the future. In essence, “near term” describes events that are likely to occur soon. The phrase is commonly used to depict the time frame during which a change or event is anticipated to happen.