 Oct7, 2020
15mins onwards...
"This is the best prospect I've ever seen in 44 years in the business and thats because of its commercial attractiveness, its cheap drilling, its geology first and foremost and I think Im in a position to say that because Ive been involved in Libya, Ive been involved in Argentina, Ive been involved in Colombia, Ive been involved in Abu Dhabi over 44 years and I have never ever seen anything where I can spend two and a half million dollars and get a TCF of gas two kilometres from a pipeline with good geology that Im very, very comfortable with and that's why Im a 20 percent shareholder ,this is a fantastic opportunity, its risk reward is unbeatable."
Was PG correct ?
Results todate .
Mou3 was to appraise the MOU fan but also test the shallower targets
The MOU fan is mapped to an area covering 30sqkm+..
P50 295BCF was based on 19m of sand
But drilling confirmed 43m
The resources likely to be P10 or more
the shallower targets ...
predrill...
MA/TGB6 sands were deemed to be 6sqkm structure but based on data points they now can map it to 58sqkm structure
Also 5 sands were encountered with an overall thickness of 11.5m where as pre drill again on P10 basis was 10m
So P10 or more but the structure also confirmed x9 the size
The excitement is clear to see
"In particular the Ma Sand potential has been enhanced over a wider area with the possibility of a larger gas trap being effectively sealed covering up to 58km². The shallow gas potential of MOU-3 has exceeded all pre-drill expectations."
lets look at what we have so far
MOU 1 - 10m & 12m
MOU 3 - shallow 11m & 11.5m & 43m MOU fan
MOU 4 - 50m & 12m & 2m
total 151.5m ..
MOU4 also confirmed the MOU fan extends further ..
10-12km , so potentially extra 33-40% in terms of area which wasn't allowed in the figures...
so we could be looking at 850BCF+ in the MOU fan alone
shallower i estimate around 376BCF
but now 50m in M1 sand in shallower target MOU 4 where non was expected, we don't have any info on this in terms of area, but 19m for the mou fan over a an area of 30sqkm was 295BCF P50, add in MOU 1 , MOU 3 shallow shallow targets, probably as a guesstimate
1.5TCF net to PRD ??
The licence area is the equivalent of 60 North seablocks ..
So far we have barely scratched the surface..
Just 50sqkm explored of a potential 5000sqkm grabben kitchen..
The whole basin is charged
Morocco offers a once in a lifetime opportunity...
onshore low operating costs
no tax for the first 10 years
5% royalty after 10bcf
Not long to find out on the numbers !! |
CRCL was a tiddler. PRD has already risen massively from the days when it was a 2m cap tiddler company.it is a 55m cap company today......very different beasts
we shall see atb |
having said that i may be in for a quick trade to see if theres any froth prior to testing results.undecided.
personally i doubt it but you never know it may be worth a punt.youve got to remember theres been dilution since the stock reached the heady days of 20p
never hold stock through oil and gas results.not my style.atb |
Certainly have with the testing so close shares at 10p have a very limited downside but a MASSIVE upside.
The share price of PRD will rise just like CRCL has done.
:) |
you pays your money you take your chance
i remember paying 2p for my holding here.
got a lovely 3 yr old Porsche Boxster 718 2.5s out of it.
Happy Days |
Pay attention to the last sentence:
" The shallow gas potential of MOU-3 has exceeded all pre-drill expectations. "
( just for balance shares will exceed 20p again after testing ). |
Paul Griffiths, Executive Chairman of Predator Oil & Gas Holdings Plc commented :
"The MOU-3 well has validated our pre-drill upside forecast for sand development in respect of the main Moulouya Fan target. A gross interval of 43 metres will be evaluated by a rigless well test.
It has increased our inventory of potential gas reservoirs for a CNG development with the discovery of very shallow over-pressured gas.
It has demonstrated the possible continuity, subject to rigless testing results and a future infill well, of gas sands penetrated in MOU-1 with similar sands encountered in MOU-3. In particular the Ma Sand potential has been enhanced over a wider area with the possibility of a larger gas trap being effectively sealed covering up to 58km(2). The shallow gas potential of MOU-3 has exceeded all pre-drill expectations. |
If testing results are better than expected then expect share price to be 20p to 50p.
(just for balance) |
and if the testing results are bad expect 2 to 4p for your shares......
(just for balance) |
A very busy schedule from next week onwards , expect lots positive news flow that will keep the share price in an upward trajectory:
1) Site visit to Cory Moruga scheduled for 22 - 26 January to begin planning for well workovers.
2) Phase 1 Guercif rigless well testing scheduled to commence before 25 January.
3) Phase 2 using Sandjet scheduled for February/March.
4) Well planning for discretionary high impact Jurassic well commenced for April/May drilling. |
purple is one of many who suffer from extreme jealousy unfortunately (for him). You will notice that he also is on twitter (X) trying to get attention from grh, who never acknowledges his existence :-(
And why he has a photo of somebody else's house on his profile i have no idea....except as an attempt to keep up with the Harrison's.
Heaven knows what the scale of his jealousy will be in 3 months time.
Ps, has anybody heard from pro? |
@purple11 - rather than just a rude and valueless remark, perhaps you would like to take us through your owned detailed assumptions and calculations. Or is that far too difficult for you since you are a clueless failed gambler rather than a serious investor who makes real money? That might explain your spoilt child reaction. |
i only really am here to spur discussion!thats what these bbs are for...to find out more information about the company
any chance of making some dough and id be back in here in a flash.
bar a slight transgression whilst i brought the stock i so far have been right for the last 6 months saying there will be no ramp up in price prior to testing.testing is about to happen and the shareprice is not 20p it is unchanged at 9-10p.that was a good call.
remember the market is in the bottoming process at the end of a 3 year bear market there arent many punters in the game and only good results will change the price. the fizz has completely vanished from the market.
anyway i made my small fortune here when the market cap was 2 million and the oil price was trading under 0. it is a different opportunity now and i am more interested in companies like PPP Pennpetro oil which has a 2m cap.it could well be worth your while picking up a few of those imo. gl |
I do remeber him posting that Nametrade but no harm us having a look. Page 83 in the prospectus the POSg chance of success 100% at MOU1. Remember this CPR was before MOU 3 and MOU 4 where migration,seal,reservoir and trap were still risk factors .......but not anymore :
Still worth a read though. Turbitites can be tricky but many successes have happened in turbitites. |
Great rns. What a very exciting 6 months in store. |
Mario...remember purple has sold down now....so facts are now not always necessary... |
Your own view Purple on one sand. I would say 90% on MOU1 sands given the CPR. There are many sands of course. The cpr for MOU 1 actually stated 0(zero)% geological risk. You not seen that? |
"that is total disaster in Morocco which must be highly remote"
certainly not highly remote!
whats the cos..... 20%?
odds are most definetly against you in this game.
get real |
Cheers buddy. Have a great weekend.👍28077; |
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