I've held other shares in mining co's that have confirmed that future sales of assets, at whatever price they are sold at, will be shared between shareholders on the register on x date, whether or not they still hold shares in the future. I then received payments long after divestment which was nice.
I'm wondering if its similar to the issue of timing when he talked about the discovery bonus and being glad at not fully testing yet. PG didnt want to trigger events until all ducks were in a row. Get the double drill, triple test done and announce everything together to be in a more advantageous position for next steps.
What on earth was this supposed to demonstrate anyway? A small company that visibly did little if anything voluntarily closing itself? No winding up petition, not unpaid debts, no evidence of complaints? In all GRHs publicly acknowledged UK and non uk history (and you must have researched both) so what?
Nobody who is remotely serious or knowledgeable of commerce would bat an eyelid at that. Moreover it has no impact whatsoever on the prospects of PRD nor of the data based views GRH has espoused. Reeks of desperation in a personal vendetta, and only shows what little you have to say on PRD related data.
Whether MOU-4 contains the "deep kitchen" beneath it or is just a main reservoir connected to it, yes that's my understanding. The pressure will not necessarily have equalised because (a) we don't know whether MOU-1 has ceased to fill, if not pressure cant have equalised and (b) these reservoirs are not connected by open pipe but porous rock. Like reverse osmosis, the pressure at MOU-4 has to be high enough to push the gas through the tiny gaps in the rock.
This is all over-simplified and I realise I am also talking of MOU-1 and 4 as discrete places rather that sections of a whole, but I feel it illustrates the ideas a little better.
Except it did. Read through the RNS and this BB. You will see that MOU-1 required significant mud weighting during the drilling (RNS 19 July 2020). That is something required for higher than normal pressure drills, not low pressure.
If that is correct, and MOU-1 is under high pressure requiring added mud weight, then MOU-4 would have to be contain areas of higher pressures still. Gas will tend to move from higher to lower pressure areas so long as there is a pathway.
Pressure and density for gas and liquids are closely related. A gas under sufficient pressure will re-liquidise because the energy in the gas molecules cannot escape the effect of the pressure. As a result, it becomes a substance (the liquid) which is significantly more dense than it was as a gas. That liquid in turn will become denser and denser as the pressure increases and the molecules are squeezed more tightly together.
At lower levels of education or modelling, one will assume the density of pressures and gases to be equal across a given volume. In most cases if the volume is small enough that may tend to be true. However, no matter the pressure acting on any substance from the material (rock/air/sea for example) there will always be an greater pull downwards. Everything on top of the substance is pushing down, but the earth itself is also pulling on each molecule (NB treating gravity as a pulling force rather than a spacetime effect). The greater the mass of the molecule, the greater that attraction downwards. The attraction towards the mass of the earth will be greater than any side to side pressure, pulling substances down and 'pooling' them towards the bottom. Again, the greater the volume, the greater the measurable effect might be. What it tells you is that the liquid or gas at the bottom is under greater pressure than at the top.
Splice decided it would be funny to bombard the board with a post on every thread today, which would also have buried the useful research and discussion that has taken place today. Looks like the admins are addressing that spamming.
I do agree that it is perceived as a binary play, and I also agree that if some news on Morocco is the first to hit, then it may continue to behave like one. What I was trying to do is look at other scenarios and how that may cause the wider market to recall that it isn't actually binary.
I don't think we are in a single hit and hope position, but the share price does indicate that a significant proportion of shareholders were in that position and then panicked when the update on the progress was not clearly and simply saying "so far so good, the future is bright".
I think that is a fair post and reflects the position we are in at the moment. If Morocco news (good or bad) is what comes first, I think you will be correct. If, however, Trininad news comes first that has a number of different outcomes. It may provide a solid foundation for a higher SP and we see the more gentle increase following pending further tangible Morocco data. We will then likely be in a similar soar or plunge position though.
Alternatively, Trinidad could be lacklustre and the reverse would likely occur. There is a third option though which is some news arrives that plans are in motion to offload Trinidad. if that occurs and underscores the financing required for Morocco then we may see a short spike followed by a more general increase. If PRD demonstrably has the funds to explore Morocco for a little while the market may see it less as a binary play on either MOU-1 or 4 results and there is some longer term perspective as the market feels less at risk from placings or other dangerous financing.
Geowiz, unless you are going to comment on any of the actual real world comparators of the results to the gas logs, what you think they will do is entirely unpersuasive.
Why didn't you come on and comment on the gas log results in the 2019 presentation from GRF1? Why haven't you commented on the comparison to the gas logs in Anchois 1? In both cases PRD have announced 10 times the saturation. That and the clear decision to go on and test contradicts your repeated assertion that this is dry. Give it a rest or back up your... "thoughts".
I wouldn't bother Androcles, I've tried giving him the benefit of the doubt and answered his questions. He's only ever responded with comments such as "great post" yet there my name is too.
His agenda is not only clear, he has told us. He wants to encourage the so to fall to 3.5p in order to join us for the ride. Frankly if that happens I'll up my stake too, but it's clear no one can take his posts seriously now (if it wasn't before)