 Today would be the last day this year to give an update, before everybody goes away for a couple of weeks, mentally and/or physically. Not a good idea to issue a C-M CPR without a mention of progress in Morocco. It would only be worthwhile issuing an update if there is something concrete – firm dates – to mention. If not, better to wait until January, then issue the CPR timed so that the RNS can also confirm that flow testing has actually started. What would I hope to see in an update? – A statement of strategy for 2024. Here's my PowerPoint!
Consider this:
💲More money was raised a few months ago than was required for the bare-bones plan.
💲Further cash has been saved by getting C-M cheaper than anticipated.
💲A reduced flow testing programme has saved a bit more.
💲There is the possibility of the CNG trucks being paid for by Afriquia.
💲Debt finance or leasing are possibilities for the rest of the CNG plant.
My guess is that Paul & Lonny are overheating their calculators working out the best way of using this cash to achieve:
🦖Short Term Objective – next 6 months – achieve positive cash flow, avoid further dilution, and be independent of a particularly fickle market. This may be either by -
🎇Testing just enough of Guercif to convert the MOU to a GSA, and getting the CNG operation up & running, or,
🎇Re-entering C-M Snowcap-1 and flowing oil. Given the frequently noted T & T traits of procrastination, incompetence, indolence & corruption, this would not be my personal choice, but since I know next to nothing about this specific opportunity, will have to defer to Paul & Lonny's expertise & experience.
🦖Mid Term Objective – 6-12 months – use the cash flow to work up Guercif to readiness for sale, by
🎇Drilling MOU-3 Twin to appraise the Middle Sands.
🎇Drilling Jurassic carbonate reef to determine reservoir characteristics and dimensions.
🎇Comprehensive testing of all remaining MOU-Fan horizons, using Sandjet for the friable reservoirs, as well as the newly-drilled Middle Sands & Jurassic. This would determine connectivity and volumes as well as flow rates for the whole basin.
🎇Sell all or a majority of PGVM, the Moroccan subsidiary.
🦖Longer Term Objective – 12-24 months
🎇Develop C-M, assuming it is the huge opportunity Paul claims - the Herrera Sands have produced one hell of a lot of oil, and this is just about the last undeveloped prospect.
🎇Set up a partnership CO2EOR business in T & T, as the country's authorities are now requiring for all oil operations - noteworthy that Paul is a member of the T & T EOR steering committee.
🎇Sell the Irish assets after the Greens are kicked out at the next elections – either Autumn 2024 or latest Spring 2025. |
Hope so... |
More likely going back to 15p. Try again. |
The force is strong here.
"RABAT - The African Development Bank (AfDB) said on Monday it agreed to lend Morocco 246 million euros ($268 million) to help build a highway in the northeast.
The highway will connect a port Morocco is building in the Mediterranean city of Nador to the country's road network in Guercif, AfDB said in a statement".
hxxps://www.zawya.com/en/economy/north-africa/afdb-to-lend-morocco-269mln-to-build-highway-g8kb579r
Be careful. |
xXTiPSXHEETSXx
see CR Thread
PRD BUY HOLD ADD |
would love some at 8-8.25 |
can buy @.847 |
this is looking cheap |
still think a very big upward move to 12p is coming gl |
want 8- 8.25p
but this is looking like a much more controlled drop as opposed to a low liquidity drops that we have seen with Predator.
dont see many sells coming in
all playing up into a large upward move |
.857 to BUY
yes it could well be shaping up to a disaster but has it got one last rally in it.i think so.holders are very optimistic of great flow test results |
The trouble is the gas probably won't flow at commercial rates. Results will most likely be inconclusive so they can keep the gravy train going. They will then start hailing Cory Moruga as the next best thing. This has HE1 written all over it. |
should suddenly drop to -8% -10% real quick.
THAT is the optimal time to buy |
dropping BID...here we go this may be a drop now.
fingers over the buy button.... |
can buy @8.61
which is cheap but a low liquidity event can drop this to 8-8.25 to BUY
Ppl mentioning placing word on bbs to add to the negative sentiment.
whereas in fact PRD are fullt funded for the flow teting program |
sometimes PRD has a low liquidity event and drops suddenly enabling the nimble to take advantage.
it usually poops straight back up afterwards. |
would love a few more if any going cheap mr market maker.yrs please..... |
The Games are Upon Us.gl |
just got a feeling we are about to see a large spike north
it may come tomorrow or in 1 months time i dont know but i feel its coming |
company reputation?
delays
false starts
its all been here.but now we are entering the zone for the news that could push this to extroidinary highs 43p |
why are we sitting so low prior to testing? |
they may just drop it to ASK 8.28 to kickstart some liquidity to go for the full move....... |
:/
any min this is about to go mental gl |
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