Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Perhaps the new board will be considering they cannot fulfill gas contracts… as per this quote from 1st February 2022, maybe the drill rig isn’t required by them now.?
Production in Morocco in 2022 will be lower due to a decision not to immediately renew a five-year customer contract until we have better visibility on future gas supply and gas pricing to support the full term of a new contract. As a result of this decision, we are reducing 2022 Moroccan capex guidance by c.US$6.0 million compared to 2021.
From 17th March RNS…..if the rig is being inspected shortly, they wound’ the do that if it was going toSDX first ?
The strengthening of the Company's financial resources facilitates the exercise of an option to drill using the Star Valley Rig 101 within a definitive time window following all regulatory, environmental and partner approvals. A rig inspection will be carried out shortly by the Company. The option covers drilling up to three wells in 2022
The_Cube
??@__The_Cube__??
??@lonny1971?? ??@PredatorOilGas?? As do we all. Although would be useful to know when the BBQ is being lit.
There are many parties being thrown this Summer. Other E&Ps already sending out invites, but we are still having to guess when #PRD will be opening their kitchen up...
Tick...tock... ??
_CuBe_
Tweet by Graham Harrison on Twitter
JA
Julia Arch-Hunt
Sun 10/04/2022 08:39
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To:You
Graham Harrison
??@GrahamHengland??
#PRD
I...
Have invested in the E&P sector since 2008
Do more research than 'most'
Have never seen one with bang per buck like this
(Upside vs SP)
Regard PG and Lonny as two very honest and tough cookies
Have never before seen the so called 'market' misprice like this
10/04/2022, 08:39
Creditor Restructuring
The majority of payments due under the previously announced creditor settlement agreements were paid as required during February 2022. A small number are due for payment in March 2022, and which are all expected to be made on time, in line with the description of creditor settlements as set out in the Notice of Extraordinary General Meeting sent to shareholders on 9 February 2022.
As a result of these payments, the Company will have substantially eliminated all residual debts and payables associated with the drilling of the Perseverance-1 well. In addition, the non-recourse liabilities of the Company's various subsidiaries in Trinidad and Tobago have been reduced to less than US$2.5 million, an amount considerably lower than the approximate US$8 million inherited as part of the acquisition of Columbus Energy Resources PLC in August 2020. The Company expects that these remaining subsidiary-level liabilities will be gradually discharged in the ordinary course of business over the coming 12-18 months using operations derived income.
The Company therefore expects to commence Q2 2022 debt and liability free at the corporate level, with subsidiary company liabilities significantly reduced and managed in the ordinary course of business. The Company's cash reserves will be applied toward general working capital and supporting a work programme through 2022 and 2023 which is fo