Can anyone clarify please. The company contacted a French Sandjet co for rifles testing without a wireline logging unit. So presumably they were paid from the recent fundraise and effectively sat idle for the term of the contract.Who have contracted for the conventional perforation gun test. Do they still get paid if they sit idle because the wireline logging unit isn't released on the 10th ?Rigless testing MOU-3 using conventional perforating guns is currently forecast to begin on or before 16 October 2023, assuming that the wireline logging unit is released from its present contract on or before 10 October 2023. The Company will provide an update if there is any change to this date. |
So why are you here? |
Until they get it proved it's still pie in the sky and nothing more than a waffle talk. |
Those shorter wallies have soon disappeared!? |
Prove it, sell it... Go Elephant hunting... MOU 5...Titanasouras
All good. |
Good progress has been made on opening discussions for the offtake of gas on a larger scale than was previously envisaged by the "Proof of CNG Pilot Concept" strategy.Financing options are being crystallised which will allow funds to be re-purposed for further appraisal drilling activity and value accretion through drilling success."What's not to like here :) |
'Discussions opened to sell the Company's share of gas at the well head' |
puphead: The company, perhaps? With its strong balance sheet? |
Good update, testing mou 3 first in a weeks time and in offtake discussions. Strong balance sheet with the GBP 10m raised recently which is sufficient to test 3 wells and drill one new well.Happy with that |
Now they are going to test MOU-3 instead of MOU-4 using conventional perforating guns with a follow-up Sandjet test. Who is gonna pay for all this? |
puphead: "you couldn't make this up"? But you did.
The RNS mentions the company's "strong balance sheet". What is your motive then for speculating about a possible placing? |
Good to see a reasonably concise update. |
It looks very clear to most of us, that PRD will never be a producer, prove up MOU 3 and then receive bids for the whole of the Morocco assets, great move Paul.
How much is anyone's guess, but from what I have seen it will be worth $billions of dollars.
A giant in the making, if not already made, after todays announcement |
Another delay and possible placing on the way you couldn't make this up. |
Very pleased with that update. |
There u go, happy now? |
 Nice update.
5 October 2023
Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas
LEI 213800L7QXFURBFLDS54
Predator Oil & Gas Holdings Plc
("Predator" or the "Company" and together with its subsidiaries the "Group")
Update on gas offtake, development financing and rigless testing
Highlights
· Discussions opened to sell the Company's share of gas at the well head
· Financing options for the Company's share of future potential CNG development costs being discussed with preferred parties
· Rigless testing programme amended to test MOU-3 first
· High impact MOU-3 well to lead commercial negotiations for offtake of gas
Predator Oil & Gas Holdings Plc (LSE: PRD), the Jersey based Oil and Gas Company with near-term gas operations focussed on Morocco, announces an update for the Guercif Compressed Natural Gas ("CNG") project.
The Company has opened exploratory discussions with a group focussed on the downstream energy business to potentially sell its share of gas produced at the well head subject to an approved CNG development plan.
In order to accelerate the timing of substantive negotiations for the sale of its share of gas, subject to an approved Declaration of Commerciality, the Company has decided to amend its rigless testing programme. MOU-3 will now be the first well to be tested. This will establish the potential to maximise gas flow rates for the purpose of setting commercial parameters for the sale of the Company's share of potential gas produced to the present and future CNG industrial market irrespective of pre-drill production profile constraints imposed by its initial "Proof of CNG Concept" strategy.
The Company has been waiting for over three weeks for an in-country wireline logging unit. A perforating depth control (PDC) log is required to depth correlate the perforating points with a similar log run before the casing was set during well completion. Critically this ensures that perforations are aligned with the reservoir sand intervals to be tested.
As a result of this delay in the provision of a third party service the current slot for using Sandjet as the means of perforating has passed and therefore this phase of the testing programme is now being re-scheduled.
In order not to delay further it has been decided to test MOU-3 and MOU-1 using conventional perforating guns.
The Company is confident that the testing programme will deliver the results necessary to progress commercial negotiations for the offtake of its share of future potential CNG gas from the well head.
Rigless testing MOU-3 using conventional perforating guns is currently forecast to begin on or before 16 October 2023, assuming that the wireline logging unit is released from its present contract on or before 10 October 2023. The Company will provide an update if there is any change to this date.
A follow-up Sandjet testing programme will take place later to test other reservoir intervals that are likely to respond better to the Sandjet perforating technique compared to conventional perforating guns.
The Company is also in discussion with several parties regarding the financing of the CNG development. Upon achieving acceptable financial terms funds set aside in the Company's strong balance sheet would be re-purposed for follow-up appraisal drilling.
Paul Griffiths, Executive Chairman of Predator, commented:
"Following the completion of drilling and prior to the execution of the rigless testing programme the Company has had a period of time to integrate the results from its MOU-1, MOU-2, MOU-3 and MOU-4 wells and mature its understanding of the structures holding possible gas accumulations. On this basis the MOU-3 well and structure is now defined as the focal point for a potential CNG development hub. As a result this well has been promoted to the first well in the rigless testing programme.
Good progress has been made on opening discussions for the offtake of gas on a larger scale than was previously envisaged by the "Proof of CNG Pilot Concept" strategy.
Financing options are being crystallised which will allow funds to be re-purposed for further appraisal drilling activity and value accretion through drilling success."
For further information visit www.predatoroilandgas.com |
off topic
'The 2030 World Cup is to be played on three continents after Morocco, Portugal and Spain won the race to host the 48-team tournament but Uruguay, Argentina and Paraguay were gifted the opening three matches. The decision, which caught even seasoned Fifa watchers by surprise, means that World Cup 2030 will involve teams playing in six countries, each of which will qualify automatically. The World Cup has never been played on more than one continent before and proposals for a tournament to be played over thousands of miles was met with shock by climate groups.'
wc hosting usually result in infrastructure upgrades and stadium rebuilds which are energy intensive |
"Here's looking at you, kid" |
Has PG and his sidekick abandoned PRD and opened a Bar.... 'As Time Goes By' |
Management needs a kick
Up the backside , in the
Nicest way !!
No news and the share price will drop! |
Still a pump n dump is it ? |
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