What a great update. In for 100k. Looking forward to transformational results over the next couple of months. Fully funded for 2024! |
Fill your boots it will not stay this low forever and agree what a super update, onwards and upwards GLA |
What a great update.
Fully funded for all drills and testing for 2024.
Testing - we will know what we have end of March 2024
This is jigantic in Morocco
Add Trinidad in to the mix
This Company will have a £1b market cap by the end of 2024 |
My ! getting a cpr on Morocco very soon. The last one in the prospectus was before the very successful drilling of MOU 3 and MOU 4. Good to see testing back on track. Keen to drill the Jurassic and accelerate that which implies the visit to the outcrop (Q4 2023) must have been encouraging. |
 OK, it's a day later than I expected!
🦖 Morocco
* All in hand, not more I can say until we see results, but interesting to note a date for the Sandjet follow-up of the more friable reservoir horizons. Hopefully that will give some folks here some comfort.
* CPR for all MOU wells to follow testing results - that will be very interesting re maximum aggregate flow rates and of course most importantly, the overall volume.
* All testing complete by end March (assuming a real-life calendar, not in Griffith months)
* Possible exploitation licence in March.
🦖 T & T.
* The proposed FDP gives the second best IRR I have ever seen (241%) in several decades of project appraisal - the best being that for the G2EU possibility for Guercif.
* Possible acquisition of TXP stake in C-M looks interesting, I would welcome some kind of cooperation agreement with Touchstone
* Recovery factor looks conservative - short-term dependent on how successful the dewaxing is, longer term EOR using the natural gas resource of C-M.
Will follow up further after I have had time to go through everything in detail - probably over the weekend.
PS: I also like the potential bringing forward of the Jurassic drilling subject to funds, with the shallow sands appraisal wells AND the re-entry of MOU-2 to follow as cash allows - sensible prioritisation.
Those who have (understandably) complained about the reduced conventional testing programme can now see the reasoning in detail - many of the prospective horizons will be difficult to test with conventional perforation, and likely to reveal superior results with Sandjet - see, Paul does know what he is doing! |
Good to see a plan of action, and funding for at least Phase 1 and 2 Guercif still available. All systems Go! gla. |
Furthermore -- Cory Moruga Independent Technical Report gives P50 and P90 Contingent and Prospective gross recoverable resources of 14.31 and 21.41 million barrels respectively |
Before 25/1/24 Guercif testing start!GUERCIF TESTING PROGRAMME ONSHORE MOROCCOAn updated Independent Technical Report ("ITR"), incorporating the 2023 MOU-3 and MOU-4 well results is currently being prepared by Scorpion Geoscience Ltd. for the Guercif block and resource potential of the prospective area tested by MOU-1, MOU-2, MOU-3 and MOU-4. The Company will use it best endeavours to publish the ITR before the Phase 1 rigless testing commences.Phase 1Phase 1 is planned to commence before 25 January 2024 and is expected to take up to 14 days to complete.The unforeseen regulatory issue relating to Guercif Petroleum Agreement Amendment No.3 has now been successfully resolved.Intervals to be tested are as previously announced. |
At least you made a profit. That's what the job is all about.
Keep an eye on it though cause if things turn out the way I feel they are (slowly) going this could be very big this year. |
The chart here has NO predictive value. It's PI's RESPONDING to (non)-events. |
If you look at the chart from July, it's in a downward channel awaiting testing news
Once announced it will move north and breakout of the channel
That's how I read it
Obviously all depends on whether PG decides too 🙄 🤷 |
The chart here means nothing. |
Thanks Mario
Chart is shaping up for news
Lots pending if PG decides to update us
CM - reserves ,field development plan, cashflow forecasts
Guercif- testing to confirm go ahead for CNG ops 50mmscfd with $292m annual revenue based on $16mscf
Volumetrics - on the back of testing , likely to be 1TCF +
G2P - 250 - 300mmscfd , I would imagine will be back In the news updates
with "all the gas" and future wells to target additional gas reserves I would expect the carrot of G2P
Overall production forecast, could be looking at $1bn gross revenue per annum
All the above for £50m |
simply too dodgy to hold.
may take a trade if they confirm testing.
personally dont think it will happen atb |
exited this morning with a small gain.
lost confidence that testing will happen
7p if there are further delays |
The force is strong here.
Keep holding onto that thought and you'll eventually find yourself in February.
"He's not wrong you know"
Remember that "there may be circumstances where, for sound business reasons, a re-allocation of funds may be deemed prudent or necessary".
Be careful. |
As early as possible in Jan…. Could also be the last day of the month…. If that was as early as they could get it started… that is… therefore as early as possible… |
The force is strong here.
That "for the avoidance of doubt" letter is getting closer.
That "forecast that rigless testing operations will begin as early as possible in January 2024" window is fast disappearing.
Peeps have been guided that Trinidad is where it will be "at" this year for the "initial Cory Moruga workover programme for early in 2024".
No testing of Mou-1 is my banker bet for 2024.
And each way for no testing of any Mou in 2024.
Is that lunacy?
Be careful. |
Is anything happening???? |
Have they commenced testing? |
Testing/Flow rates discussion
presentation in 2021
22mins onwards
May 2023 presentation
10mins onwards
"much better results" |
What happened to Pro? |
The force is strong here.
I think PG prefers a Tuesday lie in rather than a Tuesday RNS.
Be careful. |
PG loves a Tuesday RNS |
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