Member Info for Zebra04

@mike why would you say prd lost?
We carry on with 50/50 relation. Bpc could've accepted 1.75mil, instead they get 0 cash.

We recoup our costs and continue to take 50% profit from field when co2 eor which we have exclusive rights to.

Extension of exclusivity over Trinidad's entire surplus liquid CO2 supply and the successful execution of Trinidad and Tobago's first large scale CO2 EOR project for many years are compatible with the Company's strategy of developing and offering a flexible CO2 EOR services business in Trinidad to other operators. This is achievable without the onerous burden of licence liabilities.

The Exclusivity Period under the terms of the Heads of Agreement for C02 Gas Sales entered into by Predator with Massy Gas Products ("Massy"), has been extended to 31 March 2022.



Approvals to return AT-5X to production; to commission the new CO2 EOR production facilities, provided by the Company; and to continuously inject C02 at AT13 are progressing satisfactorily and a further update will be given in due course.



In accordance with the Well Participation Agreement ("WPA") with FRAM Exploration Trinidad Ltd. ("FRAM") (and as subsequently varied by mutual agreement), the Company advises that it is not entering into a Sale and Purchase Agreement to acquire FRAM by the previously agreed deadline of 30 September 2020. Only this specific aspect of the WPA has lapsed, all other conditions of the WPA remaining in full force and effect.



After careful consideration, the Company decided that acquiring ownership of an oil field that continues to produce by conventional methods does not fit with its business strategy, which is focussed on addressing climate change concerns through sequestrating CO2 and exploring for and developing gas. Furthermore, in line with the Company's prudent management of resources through the COVID-19 crisis, it was deemed inappropriate to enter into a corporate transaction that would involve significant transaction costs; potential delays in regulatory approvals; taking on liabilities and administrative burdens associated with an Incremental Production Service Contract; and potentially significant shareholder dilution.

From the interim results, 380 metric tonnes of co2 was injected into at5x over a period of 1 month. If we extrapolate for a year that is 4560 metric tonnes into a single well.

From the figures I can dig up, in 2019 the average vehicles in the UK emmitted 127g co2 per km. If we times that by 15000km a year, that is 1.9m grams of co2. Converted to tonnes that is 1.9tonnes a year.

So at current injection rates, at5x can offset the co2 emmisions from 2400 combustion vehicles per year.

Dyor

I have to agree with matt. It is important that we are producing. The market has been expecting us to be revenue generating for some time now. Paul also mentions this in an older video.
Cash flow is always good

Just negotiating tactics from Bpc.
Bpc is obligated to complete the c02 eor or they're in breach of thier IPSC contract.
If Paul's walks away with his co2, Bpc need to drill 7 new infill wells instead.

Will be interesting to see what Paul has to say on that. Can tweaking the pilot increase the flow. The RNS does mention it's possible to increase efficiency.

A key milestone has been reached whereby enhanced oil production, in response to CO2 injection at AT-5X, in the above CO2 EOR monitoring well during the period 19 July to 31 August 2020 represented an increase of 99% on pre-injection primary production rates. Up until 10 September 2020 the Company has determined that a total of 1,047 barrels of enhanced oil production has accumulated for the Predator Oil & Gas Trinidad Ltd account under the terms of the Well Participation Agreement ("WPA") with FRAM Exploration Trinidad Ltd. ("FRAM"). No evidence of CO2 leakage to the atmosphere has been recorded by the CO2 surface monitors.

@lancygeo I read that too, they do seem confident in the co2 relationship with us.

Not really. He's missed all previous deadlines so I don't understand why you would do a countdown on here.
Rest of us lths take the dates with a pinch of salt.
No need to build up own expectations to then be disappointed.

Almost £50k sold today after yesterday's pop. If the sellers can get it over with, that would be great. Shame the placing shares did not go into safer hands.

I am surprised it didn't drop lower, Mms happy to take all those shares at 3.2.

@wacky the 12k at 3.35 and 8k at 3.4 showing as sells were both buys. We jumped up after them. Looks like there wasn't many sellers at the 3p bottom.

Nice to see blue and the spread tightening. Would be nicer to have an update from Paul.

Still here and holding. Not much to post about until news arrives. I expect Paul to be in negotiations on fram. Till then patience.

Agree with wacky.

ONHYM (morrocon state entity) own equity in our license. We would need an invitation from them to be able to fly the rig crew in.

How quickly things move is anybodies guess, positive news nonetheless.

Atb

Nice Mrmm. Looks like drill could go ahead in Oct as planned

Looks like back on track.

Atb

@matt think of prd as the middleman in the transaction. They have the exclusivity to buy fram. Bpc is the seller and a local Trinidad company the buyer. Prd will facilitate the purchase. The new buyer will handle operating the field.

I don't see where the confusion comes from.

As I understand the other company would take on cerps current role in our deal. Once our costs are recouped its 50/50 split between us and the local Trinidad company who will run the field.

It isn't a subsidiary of prd. A rns would be required if so.

Why would u assume a loan? We aren't paying for it. A loan would be us paying for it.

Yes chesh a £24k sell in the morning pre rns. Yet the sp still went up 10%. Bullish.

Had that seller waited till the end of the day he/she would've got £26k.

Unfortunately folks like yourself have no shame and will continue to try drag the sp down with no basis.