i'm wishing nobody else wants a wireline logging unit |
Provided all people who have access to the data are made insiders......they can sit on the news as long as they need to if there are reasons for doing so that the Broker/Nomad agree are acceptible.
Therefore they may test all wells and all zones before giving an update. Or they might do it a well at a time......who knows. |
ref sdx, 7 trades in nearly 2hrs, might explain and mostly sells |
They raised £10m so that will not be a problem! |
Thin sands , small gas fields in the Gharb. SDX drilling very successful but everyone knows they are small discoveries. Quantum of gas not disclosed. |
Sdx share price completely unmoved and their MC still tiny, what's the reason for that, the CLN? Seems a bit odd? |
Yes the Gharb flows very nicely for SDX from small sands . So will the analogous Guercif only much bigger sands with higher pressure and great porosity. |
SDX decent flow rates announced 4MMcf/d |
It will be very stupid of US and its allies to go to war with Iran to change the regime.What hsppen to Iraq with over a million Iraqi dead and a country in ruins on a similar venture , Libya is destroyed and left in the hands of different militias after the removal of Gaddafi. Iran will be one on different disaster scale not just for the region but the entire world. |
PRD are duty bound to release Price sensitive news.
If the MOU3 test is extremely positive how long do you think its gonna take to filter into the market and create a false market.
Imho this is why the Interim RNS was released on the MOU3 drill |
IF... we can hold on to the wireline logging unit [at relative low cost] to pave the way for sandjet reschedule, i would be more than happy with a massive rns in dec - reporting on all zones of interest at m1 m3 m4 by conventional and sandjet
--
'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.' |
@Mariopeter - in post #6242 I give my reasoning why I think an announcement will wait:
- PRD has to find $1M within 30 days of a discovery declaration.
- that is likely to be paid as part of an upfront by a gas purchaser.
- a potential purchaser will require a minimum of two producible wells before signing a gas sales agreement, to ensure continuity of supply. |
Not related to PRD really... The whole junior market has been sold off to Covid crash levels.
War in the Middle East is very possible... With US/Saudi/Allies going all out on Iran. External proxies first then once weakened full scale regime change in Tehran. |
MP imv I don’t think PG is worried in the slightest re short term share price action.. real news will be delivered as and when PG deems fit within the rules of the market. |
The force is strong here.
The figure of 43 mmcfg/d is based on 1 mmcfg/d for every metre to be tested in Mou-3. 43 metres in total.
I said good and/or bad based what I believe to be the expectations of shareholders after reading the many posts and tweets by people who appear to hold sway over the less able and inexperienced oil and gas investor, myself included.
Deviation from this figure, which is quite conservative according to some and quite challenging according to others, will cause a rise or fall in the share price.
After all, Mou-3 is the "focal point for a potential CNG development hub" and at an "offtake of gas on a larger scale than was previously envisaged".
That suggests at least more than 34 mmcfg/d.
I have put a figure out there before any lipstick can be applied.
Personally, I am a £42 person.
Be careful. |
I think you have that wrong helpfull. For a positive share price reaction, 2mmcfg/d is all that is required...because it will be commercial at that point. Are you suggesting that, say, 42mmcfg/d will do anything other than see the share price soaring? |
I do think the team should announce ANY successes they have with flows as they occur if only to halt the selling and any shorting. The share price is wholly fatigued and whacked after the last fundraise but as "Helpful" suggests now very much in a holding pattern. |
Historically bear Markets generally run for around 9-12 months.
This Bear market is now around 27 months old and doesnt look to be ending anytime soon.
However its pretty much focused in small caps.
Imho the AIM all share bottoms around 654 |
It is indeed a bad bear market currently, however, bear markets end and bull markets start.........just a case of when the next bull run starts.
Currently with the situation with Iran........and the potential for a full blown US/Allies war against Iran.......the bull market is not going to start very quickly....things need to settle down in the Middle East. |
Boredom LOL
To be honest havent got a great deal to say in this never ending Bear market.
PRD seems to be about the only potential bright spark out there everything else is a CF.
This is no doubt probably the worst market for small caps ive ever seen. |
The force is strong here.
kq1,
"a discovery bonus of $1,000,000"
Have you got that the wrong way around?
I would have thought the discover would get the "bonus".
Be careful. |
What happened to you Henry? I remember, many years ago, reading your posts with interest. You seemed to know what you were talking about ( your posts on gkp seemed pretty accurate). But now, all you ever do is chat nonsense about the volume of shares traded and what it might or might not mean. What happened? |
 More questions on timing of test results on Telegram. My response, fwiw:
One thing you have to remember - upon a declaration of discovery, a $1M bonus has to be paid to Morocco within 30 days. I can't recall if that amount is held in escrow, but it will have to be handed over. You wouldn't want to make such a declaration until you had someone lined up to buy your gas, who was also prepared to pay at least $1M upfront. For that reason, I expect no announcement will be made until both sets of tests are complete - 2 wells minimum will be needed to ensure continuity of supply. I have said previously that a minimum would be 7 days testing for each well, plus 3 days to agree wording with ONHYM. That would give us the end of this week at the earliest. The recent Prospectus suggested 3 weeks for each well test using Sandjet - but PRD is testing a smaller number of horizons with faster conventional perforation equipment. If the tests took 2 weeks each, that would take us to around Thursday 16th November. All this assumes we started on 16th October as planned. If only one well is announced at a time, or results come earlier, I will be very happy to be wrong. |
I think the only real downside risk here Dave444 is if they FU the perforating.
Volume would indicate the Market is simply gonna wait for news,
Price has been going sideways for 3 months therefore any positive news could see a significant spike.
Which of cause will be sold into. |
The force is strong here.
Those Bollies are so tight I can't even squeeze out a chart.
News is certainly on the way, but we all know that.
When peeps open the "flow tests" RNS, what is to be expected?
What is a good flow rate (from Mou-3) and what is bad (share price wise)?
Reading the posts and expectations of those who know what they are talking about (I am definitely not one of those) a flow rate of 1 mmcfg/d for every metre tested should be expected.
That is 43 mmcfg/d for the 43 metres to be tested in Mou-3.
After all it has "changed everything for Predator and Morocco and Europe".
43 mmcfg/d and above good.
Anything less, bad.
Anyone remember the days when 1 mmcfg/d was deemed commercial?
Those Bollies must be having an effect.
Be careful. |
Register for real-time alerts, custom portfolio, and market movers
Hot Features
Premium
