Member Info for rosso123

zzzzz redbox hits the greenbox

GGP is for investors. AIM is for punters.
Hence GGP on AIM is a mismatch.

Farm-in deal on the way. Mr Lyon talking to his old pals at what is now known as Tende Energy, well cashed up as a result of Nigerian producing assets.

Market apprehensive about a cash raise. 5p placing is not out of the question. Whatever the funding issue, this drill is going to get done. Seal enhances CoS, and a big discovery is on the cards. Low 5s now, but expect high 5s all round in due course. Target sp in the 20s on commercial gas

Yep, 200m of potassium-rich clay which is reacting with their drilling mud and causing a sticky swelling. Results needed from lab. Apply the coreect fluids on reentry. Cost saving is around $100k, compared to struggling on and the poss of damage to the assembly and logging tools. No big deal, during the 6 week delay, they'll get on with flow testing MOU1

The operational hiccup didn't even warrant a mention on Morocco World News

Do they have an indication of the vertical extent of this sticky clay interval? Once through it, it'll be a quick zip down to TD through easy-drill sandstone layers.

In other words, a dab of paint thinner gets the job done.

Contrast with the outpouring of rage, lemmings leaping off the cliff, a bus crash of mighty proportions, akin to the Titanic hitting an iceberg, the incessant omg we -are -all-doomed scenario, a busted flush, all my savings wiped out., woe is me, dont say you werent warned about this disaster.

Clay swelling is not an intractable problem. Worst case scenario is that the expensive drilling assembly gets damaged or lost, hence the need to evaluate the situation using utmost caution.

Joe Punter taken out in the low 4s, aided by a few scaremongering types. Now showing blue, a 20% rebound off the morning low. If Zak puts his weekend gloss on things, there'll be more buying pressure on Monday

A not uncommon operational issue has arisen and the Co. has taken precautionary measures so as to avoid damage to equipment, as well as to find a more cost-effective way of hitting TD. For the average rainbow-chaser Joe Punter this is no different from a major blow-out. For the sane investor, it's a few day's delay involving some extra expenditure.

https://www.lyellcollection.org/doi/abs/10.1144/gsl.sp.1996.103.01.09

Potential for massive hydrocarbon reservoirs. Just need to get through the sticky interval which is forming a tight top seal.

A 2-day saving on a rotating drill bit will mean a saving of over £100k. With a very stretched budget the present pause is entirely logical. We are not at the frontier of drilling technology here. Apply the correct fluid and head for td. Funding is more of a sticking point than the clay/mud mix.

The question now turns to how Paul intends to raise the necessary funding to complete the drilling. I understand that his hands are somewhat tied, otherwise he could simply dish out 60m placing shares at 5p for a simple solution cash raise. Sp sitting in the high 4s shows that the market is apprehensive. Next week's presentation will no doubt be addressing the issue.

Nothing that this expert Canadian crew hasn't handled before. Just involves extra time and expense. Ignore the sp drop.

.... and deploy a more appropriate reamer tool to handle the conditions encountered. No big deal.

Take a couple of days to analyse the logs. Change the drilling fluids. Simps. Usual overdone AIM panic.
hTTps://www.thedriller.com/articles/88196-drilling-fluids-clay---getting-out-of-a-sticky-situation

Has gone up

Reward outweighs downside risk.. O/T Sound Energy's Tendrara Commercial Gas discovery in August 2016 saw the sp rocket from 16p to 80p. A similar 5-fold return here at PRD would take the sp above 40p

Hope nobody got taken in by the tricks being played. Onwards to double digit sp