Member Info for wraith

I remember the "glowing in the dark" comment, KingHomerJ,.....TRP never reached target depth, on the Welwitschia-1A exploration well ( https://www.towerresources.co.uk/2014/06/welwitschia-1a-drilling-update-jun-14/ ),....that's why I'm a GBP shareholder & will remain one for the foreseeable future, (indefinitely).

Extract:
"The estimated cost of continuing the current well to test the deeper targets, including the Albian, now appears to be as much as a further $40 million gross. Despite our interest in the deeper targets, with their large potential resources, this raises the question whether it may be better to wait for the full analysis of the current well before deciding whether and where to drill a second well and test the deeper targets with the benefit of that further information. As a result, the Partners have agreed not to drill further at this time and to evaluate the information and its implications for the Block. The well is being plugged and abandoned."

BW

Only just seen today's RNS, Amtech,....but, had similar thoughts, when reading today's RNS,....before, catching sight of your post.

BW

I originally bought PET for their Iraq interests,......PET 30% interest, in Tano 2A block Ghana, where ratification is awaited,....positive ratification news, would be very good for PET s/p (IMO),....we are holding free shareholdings in both PET & CLON (plus cash profits from both PET & CLON),....have decided to hold both shareholdings, indefinitely.

BW

I'm also willing to wait, Yanis2005,.....awaiting ratification news,....we are holding both CLON & PET shareholdings (both free rides, plus cash profits taken on both),...will hold both (CLON & PET) free shareholdings, indefinitely.

BW

Welcome aboard hobione,....same mind set myself,....got all of our ZEN shareholdings, tucked up in two ISA's,.....in a position to hold indefinitely, (awaiting, Tilapia Oil Field development).

BW

That's encouraging,....with oil demand looking like strengthening ;-

Socar Trading projects oil prices to hit $80 in 2021, (article dated 22/02/2021).
Extract:
“I will not be surprised if we see $80 a barrel in summer or before year-end and above $100 a barrel in the next 18 to 24 months,” Ahmadzada said in an interview from Baku, Azerbaijan.
Source: https://www.worldoil.com/news/2021/2/20/socar-trading-projects-oil-prices-to-hit-80-in-2021

BW

Had a look, as you say, the Diaban target ( https://www.rns-pdf.londonstockexchange.com/rns/4316B_1-2020-10-7.pdf ) does appear to be quite large on the map,....will be interesting to see, how it shapes up:-

Extract (8thOctober2020):
"The drilling campaign at the Diaban target remains on hold with the focus having been on KEUG, SW, and SE.However, with the drill programs nearing completion in these areas,increased attention will return to the extensive Diaban area to test the Company’s geological models in pursuit of discovering new mineral resources as Hummingbird looks to continue extending the LOM.Further updates on Diaban will be provided in due course"

BW

Thanks for posting links, RichyRich1,....looking forward to those IOCG targets.

BW

Thanks for posting, Muchaboutmoney,....don't subscribe myself.

BW

Nice scenario to contemplate,....I will also be looking to reinvest, a high percentage of any special dividends, that PRD might pay out,....we already have a free ride (plus cash profit) here at PRD,.....I may be tempted, to reinvest all of any special dividends, just retaining our existing cash profit level.

BW

I reduced our BOR shareholding, Phil164,....still kept six figure shareholding though,....positioning for any potential dilution, which I would support.

BW

My focus, is most definitely on the Tilapia Oil Field licence, Florida,....once ZEN have the licence under their belt, we can look forward to the (Tilapia, targeting to drill in fall (autumn) 2021) drilling,....Djeno wells, that have the potential of producing up to 5,000 bopd each ( https://www.londonstockexchange.com/news-article/AAOG/rig-option-agreement-signed-for-tilapia-103c-st/14303672?lang=en ),......then there is a deeper horizon (Vandji), still to test,....licence first, then develop the Tilapia Oil Field to its full potential, is what I am looking forward to.

BW

Looking back at this Wood Mackenzie 20th May 2020 ( https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/national-oil-companies-will-slash-2020-exploration-spending-26-report-says-58726899 ) report on National oil companies, it was indicated that exploration spending, would be slash in 2020 by 26%,.....which has resulted in myself to coming to the view, that existing Oil Discoveries would become more sought after, once demand for oil bounced back, as we came out the other side of COVID-19,.....especially, on the shelf ready to go discoveries, such as Sea Lion.

BW

d i r e c t o r s t a l k

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BW

Yes, I see what your saying about your margin of safety, cluelesstim,.....you are correct, I'm originally here for Trinidad & Corrib South ( https://*************.net/interview-predator-oil-gas-holdings-positive-results-but-corrib-south-could-dwarf-everything ), with Morocco etc as a bonus,....lets hope we are all successful, with our respective strategies.

BW

PRD has been a great share to be invested in to-date, for myself.....I did step out of PRD at the beginning of last year, when I switched most of our oil sector shareholdings into the Gold sector shares,....buying back into Oil sector shares, in the second half of last year, resulting in buying our PRD shareholdings back, in the s/p@4p range (second half of last year),....I will not be stepping right out of PRD again, not at this stage, with Trinidad potential starting to show through.

BW

Yes, I have also noted our current Market Cap of £45m, cluelesstim,.....been here a long time myself (since PRD cornered CO2 market in Trinidad), that is shaping up very well,....I have top sliced to free PRD shareholdings plus cash profits generated from our PRD shareholdings, positioning for good or bad drill outcome, but still holding reduced PRD shareholdings for drill results,.....personally, I would not want to be right out of PRD, for drill.

BW

Tilapia, targeting to drill in fall (autumn) 2021, sounds good,....looking forward to it.

BW