Member Info for Zebra04

Johnhenry.

If needed why would you assume paul can't do what he did last time and loan shares to the company for a raise, to avoid having to release a prospectus.

Trying to give the impression the company can't raise is misleading and disingenuous.

I don't think the company needs to raise but enough with the scaremongering.

Yh I don't think a raise is coming but the mms are treating this like it is.
We should have enough money to cover morroco. Can hold off on morroco and Ireland expenses.

At the last repprting date the company had £1.5mil. Since then they raised £3.3mil.

So £4.8mil.
Drill costs $2.5mil.
6months company burn rate is £600k.

Does anyone what the cost is for the polymers to cut through clay? I can't imagine we need a lot for 250 metres left to go. What is the cost of keeping the drill idle. Bare in mind it's kept in morroco as used frequently by others.

Great posts seabright and Caterham.

Folks complaining about no gas at higher levels can't grasp a tight seal.

The thickness of the Moulouya Fan reservoir interval is expected to increase between MOU-1 and MOU-2 based on the sand content of the debris-flow penetrated in MOU-2 allowed an extrapolation across to MOU-1 to be made.

Good post.

As many have said, not a big deal. Star valley can deal with it, they just didn't have the chemicals on site.

Another crumb.

Looking into it the geology does seem to be similar to frigg field and slump and debris flow has been proven up with many North Sea fields.

It can produce a large deposit with migration from a deeper level, the shale acts as an impermeable barrier preserving the gas. Looking at the strip data the shale rock was increasing as we got deeper.

Mm's buying low in morning to sell high to you the same day. They thrive on uncertainty.

Yesterday we were wondering when spud date is, today we know they've drilled to 1200m and only 250m short of Td. Technical issue encountered but that is the drilling crews Job to come up with a solution. They weren't expecting it in morroco as the other Wells that have been drilled didn't encounter it.

"Presence of significant thicknesses of sands in the debris-flow demonstrate the potential sand source area feeding the Moulouya Fan as mapped pre-drill." Pre drill estimated remain the same.

"A gross interval of 28 metres was estimated on the basis of the well site cutting samples and lithological log. 16 metres of potential reservoir was interpreted from drilling breaks" 28m gross and 16m net is higher than the Conservative figures given in the cpr/presentations. It gives us a ratio of 57%, in line with other successful flowing Wells in the area onshore and offshore.

Imo, we have an anomaly that hasn't been seen in the region, we have a seal which can only be a good thing, keeps the gas in place. We're not targeting a small pay areas like sdx and sound.

The drill was always going to be complex, we're not targeting a small reservoir.

Personally I'm haply with the update as know for sure they're progressing.

Mud engineer just needs to tweak thier calculations and then can continue drilling more effectively.

"The prudent and safer option was to suspend the well and leave it in a state to re-enter once a better understanding of the mud programme required to drill this particularly complex interval efficiently and cost-effectively". Can't argue with this.

So far Paul has seen nothing that would change his pedrill estimates of reserves and he is conservetive.

Methodology on reddit did say the biggest risk now wasn't finding the gas but the risk during drilling due to the pressure.

Setback but not bad rns.

As a long term 7 figure holder I have no idea when the drilling will start or if it has already. I've been here since close to ipo and such a significant event in the companies history is still ambiguous.

The board works for shareholders, I can't stress that enough but yet again shareholders are left guessing.

Even if it is due to the morrocon government, they own 25% of shares, don't neglect the rest of your shareholders and be clear in your RNS. No more updates till reach TD, why? And when will TD be reached. Simplest of answers that should've been communicated to shareholders long ago.

Vent over.

Extremely bullish to purchase £109k during the drill.
Best luck to all

Some great technical posts yesterday that are worth reading if you haven't.

I've been here a long time (close to ipo) so I refuse to get carried away but a moderate success case would definitely be life changing. £1 a share divi is minimal target for me. That would equate to selling guercif for £400mil which is very conservative if we hit the cpr figures.

Glad to see you posting again hulltiger, all the best with your health.

I remember when we had 100mil shares in issue.
Since then my holding has been diluted to 25% of what it used to be.

Same for Paul. He used to own 46% of the company when I originally invested here.

Paul sure knows how to kill momentum.

Large £50k and £30k buys today.

100k block sells will be novum. Any time they get hold of some shares they forward sell them all.

Short term sp is irrelevant unless you're looking to sell on runup to spud.

Drill and testing results is all that matters. I suspect early to mid Jan for the results and 2023 should be a great year for those that held.

@sefton
Thankfully time has a way to filter bs even though some stay blinded for longer.

Look at the performance of FTSE when Gordon brown was chancellor. Compare that to tory chancellors. From 97-2008 UK Gdp had sustained growth. Gordon brown as pm then had ftse on a strong recovery till tories came in power in 2010. He left with sterling at $1.50. Take a look at the data for yourself.

By the way the global financial crisis was not his creating, that was due to deregulation long before and private banks.

I don't know why I'm bothering to try explain this to someone who can't grasp the significance of the pound devaluing.

Inflation came in at 0.1% higher, core inflation 0.6% higher. Expectations was a 0.1% drop in inflation and a 0.3% increase in core inflation. The Fed is ahead of boe on raising rates. The £ is at its lowest point against the dollar and investors are losing confidence in it as a reserve currency.

Tories solution is to borrow billions more in an inflationary market to cap dosmetic energy prices. Everything is produced abroad and sold in dollars. The cost of production remains high and the pound weakens further from borrowing. So our countries purchasing power weakens further and inflation rises.
Overall wholesale energy prices go up even more than predicted due to weakening of the pound. So this scheme costs taxpayers far more than originally estimated.

Strange times. Glad I'm in oil and gas.

R.I.P

Good to see buyer interest offsetting the placees dumping thier shares shares for a quick profit.
Impossible to know by when we'll clear the placement shares but we'll see a significant move upwards.

The next 3 months will certainly be interesting.

@porters

"they must be confident they can get gas they need from uk."

That's good to know. I didn't know the uk had such a surplus of gas. Perhaps u should let the UK grid know there's no need to bid extortionate prices in the open market since we have such a surplus.

You can see why I don't bother to post much anymore. Not even worth the time.