RE: KeithOz repost from earlier28 Sep 2025 15:02
Hi Keith,
You really should not post financial matters as you see them , when your geological assessments pasted below ( As a professional geologist ) were so wide of actual reality, it blows the bloody doors of belief !
One would perhaps question anything further you write here , with the utmost scrutiny. Many of your below statements were made at far higher SP price than today.
For Morocco:
* It allows the Italfluid crew to steamroller the testing programme on to other reservoirs and other wells in a highly cost-effective manner.
* If successful, this confirms economics of flow rates, reservoir connectivity, and total gas volume. We are talking 00's of BCF, not 20.
*I was a little surprised that if PRD was already using Zenith, that they would bring in Italfluids for a relatively minor well test. My conclusion was the same as Graham's, that they are there because of their expertise in CNG plant construction & operation.
*MOU-5 is an important well as it has introduced a COMPLETELY DIFFERENT UNDERSTANDING of the key Mesozoic [Jurassic + Triassic, no Cretaceous at Guercif]
*My conclusion was that the initial 5 wells produced outstanding value for money. They have identified what must be at least 1 TCF of Neogene gas, with a conservative NPV10 of $2Bn
*There was another theory on here that MOU-5 was a duster because there was no effective reservoir to contain gas. If that was the case, why would you bother about whether there was an effective seal? How do you seal something that isn't there? Not forgetting why would you put an expensive pressure valve on top of a hole that doesn't contain anything under pressure?
*Based on the above, there is a very reasonable expectation that the carbonates intersected in MOU-5 should be gas and oil bearing.
*We have been told that the well has been completed for further re-entry rather than being p&a'd, anyone with actual industry knowledge knows that you would not put a wellhead on a duster. Mou5 is not a duster.
*Apparently the folk who live in green boxes are still claiming that MOU-5 is a duster. I am curious as to how they know that. It would seem that their knowledge is based only on a partial understanding of what they have googled. Perhaps they should upshift to AI and ask: "Why would a company with limited financial resources complete a dry hole with a wellhead rather than spending a tenth of the amount on plugging & abandoning?"
*The well ( MOU-5) position was not at the crest of the structure, so there is potentially an additional 100m (!) of gas column. (Very, very, very good)
*What will be found in MOU-5 - gas at the top, maybe some condensates at the bottom
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