too early, imho, as they could say tues 17 - not started!
edit - good to see 2 days of blue, more please the rest of the week |
No announcement of change so should be on course for on or before 16th! |
The Company is tiny and must therefore be versatile. Don't feel questioning "trust" is accurate. I am astounded by the ground the Board have covered in the last year. To boot we also know that ONHYM have a significant say in what can and cannot be disclosed.
Nice of you to call "Oilers" trying to help "Pumpers". I am grateful to them for helping me try to de-risk my holding here. All information welcome but whatever the outcome the buck must stop with me.
Another delay just means I hold longer and will not change the ultimate outcome. Different if you are a trader looking for a fast buck and for them no sympathy really.
I do however want Paul and Lonny to do what they are doing properly and just when they are ready.
Not just directed at you OAP there are many typing similar stuff applying very large company expectations on tiny PRD.... a misunderstanding but nonetheless a mistake imho. How big is the mistake well just waiting patiently to find out. |
On balance Paul has now done enough talking and needs to start producing results. It was very unfortunate about the floods and earthquake, but I think that there's been more disruption to wip than the company is letting on. The non appearance of the sandblast flow tester was a huge disappointment and has forced a change in strategy reverting to conventional blasting methods and re-prioritizing the testing schedule to CNG and MOU3.In the last RNS financing going forward was mentioned, so a funding or loan may be on the cards . Let's hope that no further delays occur and that Paul can successfully negotiate the various partnerships/ deals etc. which he has been enthusiastically touting for some time. |
They can RNS another delay anytime, same as they didn't say anything about the previous intended testing timeline. Until they RNS testing has started this Board can't be trusted. Once that happens happy days if the gas flows as Twitter and the pumpers say it will. |
'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.'
essentially, we don't want rns this/nxt week |
 11 percent, see below (copied and pasted) for information as requested:Completion of MOU-3 drilling and logging operations, dated 27 June 2023.Highlights -- MOU-3 drilled and completed for rigless testing -- Multiple zones of interest from 339 to 1435 metres TVD MD -- Rigless well test planned for 43 metre gross interval in Moulouya Fan -- Ma Sand gas trap potentially could cover 58km(2) -- MOU-4 drilling to start shortly Predator Oil & Gas Holdings Plc (LSE: PRD), the Jersey based Oil and Gas Company with near-term gas operations focussed on Morocco, is pleased to announce the successful completion of drilling and logging operations for the MOU-3 well appraising the Moulouya Fan primary reservoir target and several secondary reservoir targets encountered in MOU-1 drilled in 2021.A preliminary summary of the results from the zones of interest is given below pending further NuTech petrophysical wireline analysis that will be commissioned ahead of finalising multiple intervals for rigless testing .No logs were acquired over the shallow interval, the results for which were previously announced, which are behind 9 5/8 " casing. 1. Ma and TGB-6 sand interval Within the interval from 815 to 895 metres TVD MD five potential sands with gas shows were encountered. Individual sands have a maximum thickness of 3 metres giving an estimated cumulative thickness of 11.5 metres versus a P10 pre-drill forecast sand thickness of 10 metres.The Ma Sand had a 3% formation gas show.Pre-drill P50 structural closure was determined to be 6km(2) for the area tested by MOU-3.MOU-3 well results have confirmed that the Ma to TGB-6 interval can be correlated with the same gas-bearing interval in MOU-1, approximately 7 kms. to the southwest. The two well data points now support a seismically defined sequence covering an area of up to 58 km(2) that potentially forms a combined structural and stratigraphic trap for gas. 2. TGB-4 sands Several thin sands of up to one metre in thickness were encountered in TGB-4 from 1046 to 1070 metres TVD MD. Borehole geometry was poor and further detailed petrophysical analysis will be required to determine reservoir quality. At least one of these sands may be a candidate for rigless testing. 3. Sub-TGB-4 sands From 1112 to 1140 metres TVD MD. five thin sands, individually up to one metre-thick, were encountered. As for the TGB-4 sands further detailed petrophysical analysis will be required to determine reservoir quality. Rigless testing of at least one sand will be considered. 4. Moulouya Fan sand The Moulouya Fan sand was encountered from 1378 to 1437 metres TVD MD with approximately 50.5 metres of sand versus a pre-drill P50 forecast of 19 metres.Elevated background gas readings were recorded whilst drilling this section.The interval correlates with the Moulouya Fan interval penetrated by MOU-1 drilled 7 kms. to the SW and its presence supports the development of the Moulouya Fan over an area of at least 30km(2).A rigless well test over a gross interval of 43 metres within this section between 1379 to 1422 metres TVD MD is planned to be carried out.MOU-3 reached its planned Total Depth of 1,509 metres TVD MD on 21 June 2023.Wireline logs were run as per the pre-drill logging programme. 4 1/2 " casing was run to the casing shoe at 1494.5 metres TVD MD. The well has been completed for rigless testing.............Dated 11 July 2023UNDER, Completion of MOU-4 drilling and logging:Results of MOU-3 NuTech wireline log analysis:NuTech wireline log analysis and reservoir characterisation of the MOU-3 well has highlighted 43 metres to be likely gas sands that will form the primary objectives in a rigless testing programme. |
Having a look at this to see if there is pot entail.
Ok.....they have not flow tested any of the Wells yet......but can someone confirm that they have logged the Wells and that hydrocarbons (gas) are indicated.
Cheers. |
In the recent RNS the offtake for CNG is bigger than what the CNG pilot program envisaged. This is not a dilution at the wellhead it is advance sales. Thinking 50mmcf cng per day. Actually this is the size of the market per the last presentation. |
T minus seven days |
The force is strong here.
Ok. Mou-3 tested and 25mmcfd flow rate obtained.
Rough figures, about 25,000 scuff/d.
At $6,$8 and $10 per scuff and 75% share and £1=$1.22 that would give £33.6 million, £44.8 million and £56 million respectively to Predator.
25mmcf/d is 9.125 bcf/year.
$12 per scuff would be about £67.3 million/year. To sacrifice half of that, to be able to sell at the pump head would give £33.6 million a year (gross) to the buyer.
Some might see that as too steep. But compared to the potential rewards in terms of developing the field, that figure is minimal. 90 billion cft of gas over 10 years.
Shareholders should compare the loss of revenue to the loss due to share dilution recently at 11p (ELEVEN). Was that a 50% discount? And multiply that by 10 years.
A deal at almost any price would appear viable, if management were able to make it.
And the little problem of a flow test, of course.
Be careful. |
Which ever option PRD decide to pursue, recently changed to MOU3 and CNG I assume due to issues involving the sandblast method, it's now all about flow testing and the results. This is by far the next most critical stage which needs to be executed and definitively quantified in order to substantively move forward. It's now Time to walk the walk. |
The force is strong here.
Three wells drilled this year and two completed.
Four cash raises this year and all four completed.
Some things Predator do well, and on time.
No flow tests carried out or completed.
Over two years for Mou-1.
The share price has moved from 5p to 10p.
A long way off from £42.
Good old Paul "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".
Another plan. Or another version of the same plan.
Paul needs to test Mou-3 and more importantly show a deal can be made for the sale of gas, and complete the deal
The deal is important. And should be made almost at any cost. The price is of little importance if the rhetoric used by some posters is to be believed.
There appears to be less of that around lately.
Me, I'm a £42 person.
Be careful. |
A comment that needs to be said again.
The sand jet testing is mostly needed for thin sands to get the best results.
The move to conventional testing with explosives suggest, very strongly, that the thick sands in MOU-3 have been double checked and are very suitable for standard testing.
Looks a very confident move.......and should result in very good results. |
Malcy and Marrakesh........
...............Plenty of operational detail here from Predator as they update on progress at Guercif and it is indeed looking promising. Despite the delay whilst waiting for an in-country wireline logging unit, meaning a re-phasing of that part of the schedule they are moving ahead elsewhere.
I like the fact that they are opening discussions on the gas offtake as the larger scale seems to be encouraging, the very fact that this will be a CNG concept should be very rewarding. Also I think that the selection of MOU-3 as the first well in the rigless testing programme indicates confidence in the selection process.
I haven’t seen Chairman Paul Griffiths for a long time and I am hoping that I will do so in a few weeks time when I go to Morocco for the Oil Summit in Marrakesh. I’m hoping he will give me some time, as other leading figures in the industry have promised!........ |
Disagree Purple,How much gas do you think they have with first supplies valued at $100m per 40 bcf. |
Well if you feel that way why are you here?Of course you're short! |
i v much doubt this will rally at all until the flow tests are known and if they are positive.its just not that type of market.
at a 60m cap youve got a chance of a bag v the chance of a complete wipeout to 1 or 2p.
personally wouldnt touch it until results are known.v risky.gl |
SO much sand in MOU3 not least the 50m in the fan. That's capable of throwing off 50mm cng/day alone.
Two developments the cfg and then there is gas to power.
34mm cng/day nets a profit of $66m per year from the latest presentation.
Not sure how big the cng market is.
Corporate event in any case. |
Drop below 10p and I will add more. |
Pumping like mad |
GH is getting excited on twitter about the forthcoming testing. |
Its all nappy wetting behaviour from the wee day traders. Great buying opportunity for investors |
The emphasis has changed seemingly due to the non appearance of the sandblaster equipment..... presumably hence the go for it big with CNG on MOU3, and back to using conventional methods. This is a disappointment given the way that Paul was enamoured by the advantages that the sand blasting method offered. Also "still in discussions" means there is nothing definitive re. contracts or partnerships etc.
Reading into it there's a good chance of another fundraiser/ borrowing coming in the not too distant future....
"Financing options are being crystallised which will allow funds to be re-purposed for further appraisal drilling activity and value accretion through drilling success." |
That's my underlying assumption, too. |
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