Member Info for Zebra04

I second that chancers.

@truthseeker, I understand your frustration. Yes we've underperformed the market this year. Next year it will be quickly forgotten if we outperform. I've been here since ipo. It's a slow burn but we are achieving what the board has set out to do. No failures so far, delays out of the boards control? Yes.

Trinidad co2 eor proven to work. No leakage and increase in bopd. Now we're working on expanding this.

Morroco drilling date penciled in for next year. New cpr confirms a new drilling target which doubles the prospective gas in place. Surely worth the delay.

Ireland new lng proposal announced and is progressing ahead. None of us expected this.

Considering what a year it has been. I'm happy with the companies progress. For sure we'd all prefer a high sp by now as it would look better in our portfolios. Just paper gains as i've no intential to sell when there's so much to play for.

Atb

Addition

An internationally recognised system makes sense as the co2 emitted doesn't just stay in the source country. It does seem the likely scenario the world is heading in. Incentives are needed to get more companies into carbon capture and storage, with time they'll come.

Imo this would be the best outcome for Trinidad. We would be selling a scalable business that returns carbon credits to the buyer. If they need more cc's, simply expand the project to more wells/fields.

@wacky, trading carbon credits is similar to what tesla does to be profitable. It receives more carbon credits than it needs to hit the govs environmental targets. Other manufacturers like gm don't hit thier carbon targets, so instead of incurring fines, they buy tesla's excess carbon credits from them. Sellers market.

In our context we can get carbon credits from co2 sequestration. We may then be able to sell those carbon credits to a larger player who needs to hit thier targets.

As another poster said we do need an internationally recognised carbon credits system. So a major can use ccs from one country to offset emmisions from another.

Our time will come.

When Carbon Credit's come into play then Trinidad will become very tempting for a buyout. Paul will know this and will be trying to scale up to maximise what he can get.
The carbon credits could be more valuable than the increased production for a larger player.

Slow burn for sure though, could also do with an Irish update to close the year.

hi wacky,

That changes the debate slightly. It's LNG import vs oil and gas drilling, the latter a much harder sell.

As I understand barryroe was initially targeted for its oil. It contains more oil than gas. I've not followed it closely, does anybody know if its possible to extract the gas only? Or is it a commitment to both?

I still don't think the Irish government is keen on drilling a new field. That's a long term commitment to continuous flow.

The fsru proposal fits in better with the long term Irish goal. When the wind doesnt blow and the sun doesn't shine, a full fsru alongside land based gas storage units will come in handy. The ability to ship in more as demand requires.

It will be in continuous use for many many years until renewables play catch up. However it's an easier idea for the politicians to sell in line with thier green goals.

Nico you're right.
The morrocon government doesn't use the spot price of gas. It's priced as a percentage of Brent crude.

Oil prices go up it benefits us in morroco. If spot price of gas goes up it benefits us in Ireland.

@prefabsprout, he sold at a loss and moved on

According to malcy, Paul should be giving him an interview this week or next.

Upgrade of gross audited Best Estimate recoverable prospective resources for Miocene gas targets to 819 BCF with addition of the MOU-4 Prospect, representing an increase of 92% over previous SLR resources estimates.

Drilling q2 next year. Worth the wait.

Tesla I agree with you. I think our project and partners is seprate to what's happening with barryroe.

If the barryroe field was to get the go ahead, it can be linked to the kinsale pipeline. I don't see why a fsru would be needed.

Our lng proposal provides an alternative to drilling in Irish waters.

The Irish government has to decide whether it drills and commit to a new field or if it chooses to go down the mobile lng route during this transition period.

Imo, I think they will go down the lng route. It doesn't involve committing to a new field for its lifetime. Uses gas from the world's existing fields. Less disruptive to the Irish waters. With the greens in power, commissioning a new gas field would be quite odd. However gas is needed and so only one alternative.

Morning sam

The state of emergency gives the government additional powers which are currently neccesary. I expect another few months of it for thier vaccine program to complete as well.

Doesn't neccesarily mean they'll use those powers to extend the lockdown.

Then there's the rig crew and other nationalities involved who need to be vaccinated before entering morroco.

I also expect Paul wants to be there for the drill, so he would need to be vaccinated.

Meanwhile Brent price is steadily moving up and should hit $50 soon. This matters as the price the morrocon government pays for the gas is linked to Brent crude prices.

Just checked brh hull, well done indeed.

I'm here for the special dividends.

But surely you're not buying it to sell immediately? Whenever news comes the share price will move and the spread likely reduce with increased volume.

@muckle spread here means little unless going to trade it. It's a buy and hold. So the ask is whats relevant for anyone trying to get in.

If the bid went up to 3.5 and the spread fell to 2.5%. It will still cost 3.58 to buy...

Correction to earlier post,

1st time was to fully fund the morroco drill.

@GRH it's madness how undervalued we are compared to our peers. That's not to say they aren't over valued. With so many shares and higher mcaps, the upside is significantly reduced.

@nico I couldn't have said it better. 4billion shares and still can't fund the drill themselves.

We have diluted twice,
1st time was to acquire morroco acreage. Huge potential upside.
2nd time to clear convertible loan note as it was negatively affecting the sp.

Thats it. A well run company.

No update on Inniss-Trinity just more dilution.
I am glad we have Paul and Ronald at the helm. 4 billion shares over there pre drill in comparison to our 240mil.

The rest of us on here are still waiting and nothing has changed. Just because you've sold doesn't change anything for the rest of us. We're not traders.