Very happy with this little pull back. This follows a pattern when the prd price is in on the way up. Fortunately, this time, we are not going to have a placing to put the brakes on.
Would be surprised if we do not break 15p tomorrow.
Exciting times! |
The force is strong here.
FWIW.
hxxps://www.agenceecofin.com/exploration/3001-115717-maroc-predator-oil-and-gas-annonce-de-nouvelles-avancees-dans-ses-operations-de-prospections-petrogazieres
"The study, conducted by Scorpion Geoscience Ltd., estimates net contingent and prospective gas resources ranging from 109 to 234 billion cubic feet (BCF) for the former, and from 139 to 312 BCF for the latter. Based on these estimates, Scorpion Geoscience delivers a compressed natural gas (CNG) development scenario for the Moroccan industrial market.
This, with a production profile of 20 million cubic feet per day for a 6-year term for a net present value (NPV) of US$128.08 million and an internal rate of return (IRR) of 138%.
In addition, Predator has announced that it has a plan for a non-device testing program. The operation is expected to last two weeks and is expected to start from Monday, January 29".
Be careful. |
 The force is strong here.
FWIW
hxxps://lanouvelletribune.info/2024/01/hydrocarbures-au-maghreb-des-projets-en-vue-dans-ce-pays/
"On Friday 26 January, Predator Oil and Gas confirmed the presence of good potential at Guercif. Prospecting suggests 139 to 312 billion cubic feet. According to our colleagues at the Ecofin agency, this vein is capable of producing 20 million cubic feet per day for a period of 6 years for a value of $128.08 million. For some time now, Morocco has launched an ambitious project to diversify its economy".
"These different deadlines will allow the Maghreb country to benefit from many economic benefits. The first authorities are pulling out all the stops to properly coordinate the flows of capital that will soon converge in the state coffers. As a result, many investors are converging on the Cherifian kingdom.The Maghreb has enormous potential that is just waiting to be exploited. The different nations in this part of Africa are each developing their own strategy to reap economic dividends. The aim is to build up a range of opportunities to propel the economy into a new sphere".
Be careful |
Nothing much to say for now. Am sure it will get very busy within the next couple of weeks though...... |
Very quiet here but nice to see a bit of blue after the red start. |
I looked up the latest expert firm. A small and new company with the website in development. The last report is easily amended after flows and quick enough for the data room when we exit Morocco. PG probably got a nice but fair deal on the report . That aside, the IPR brought volume expectations back to planet earth (but I don't believe them as it's a corporate takeover defence mechanism!!) |
Morning all
Looks like an upward channel forming on the chart
I'm still trying to understand the reason s why the ITR was issued, surely would have been prudent to conserve cash and commission a report once flow tested
BWDIK |
The force is strong here.
OK. Couldn't resist a chart.
Those Doubting Thomases look away now:
free stock charts from uk.advfn.com
The resistance at 12p has finally been overcome.
The next support/resistance is 16p and that is the immediate target.
There are trendlines for the 15 day, 45 day and 100 day moving averages forming.
Further out 24p is still the target.
Be careful. |
Trending strong, traders selling not learning that the MMs will not let them in cheaper |
Just to say they need to test one sand at two locations to see if there is a connection. Extract at A and a fall in pressure at B means they are connected. Only need 3mmmcf/day for success case. |
Rocketing, will be a very interesting week! Hold on! |
Dave, I think your logic is correct, but I also think that they won't announce any results until they are all in.
We may know if someone gets a whiff of gas, though. |
This moves relatively quickly. |
From the announcement they are supposed to be testing 4 intervals - 2 each at MOU3 and MOU1!The whole process could take up to 14 days!That means to me that they should have the first interval results after 3/4 days.Is my logic correct? |
Testing commenced yesterday. |
I should say that the short term stuff is not my style as I am sitting here overweight as I like PG as a geologist who has seen the geology and compared it to the free-flowing Gharb and think the "a" sand (shallow MOU3) at least (whatever about the first flow results) will flow (Very cautious IPR says greater than 60% chance) and I am here until Morocco is sold, Trinidad is producing and Ireland gets exciting. The Jurassic is interesting too. Anyway enough magnets to keep me locked in. Am not selling my tickets unless someone gives me a silly price a little like HE1 was at the open today. |
Starting to show up on day traders platforms: |
Bang! 17p soon |
Golden cross green to dark blue indicates 17p and that could be before test results. |
Where do you think this is going to then? |
I know many don't think much of charts but one forecast on a share price chart that has never failed me is the golden crosses on the moving averages. One recently happened already with more coming. Crossing a rising 200 day is particularly good. Happy days ahead here at PRD.
free stock charts from uk.advfn.com |
I put this on lse in response to questions about mentions of Oxfordian in the ITR.
* What does it mean? Oxfordian refers to a geological time period159-154 Ma (million years before present), and therefore is classed as Upper Jurassic. Much of the early geological work was done in the UK, and hence many terms are UK-based - in this case the sequence of rocks around Oxford. They were formed around the start of the formation of the Atlantic in a shallow shelf sea with gradually rising sea levels, and consist mostly of mud / claystone, with a few interleaved sandstones and limestones, including reefs. These are sometimes hydrocarbon reservoirs in southern England. Much thicker limestone and sandstone sequences of Oxfordian age are found in the Gulf of Mexico, and form one of the world's most productive h/c systems.
* What's this got to do with Guercif? That was my first question! I was aware that in the Essaouira Basin in southern Morocco there are fractured carbonate reservoirs of Mid-Oxfordian age, with hydrocarbons sourced from underlying organic-rich Lower Oxfordian shales, and traps formed from underlying Triassic salt diapirs. But it has been assumed that there are no Oxfordian-age rocks around Guercif - take a look at the geological sequence on p.14 from this document from ONHYM (loads very slowly) hxxps://hydrocarbons.onhym.com/sites/all/themes/hydrocarbure/images/pdf_onshore/Hydrocarbon%20Exploration%20Opportunities_Onshore.pdf
You can see there is a discontinuity between 161 - 97 Ma - meaning that rocks of this age (including Oxfordian) have been eroded away and are missing from the geological sequence. So I was very puzzled to read for the first time that PRD is investigating Oxfordian age prosects.
* So, what is going on? Remember that PRD were conducting fieldwork looking at Jurassic outcrops around Guercif? I suspect that they discovered that some of the 'missing' rock strata were actually still there, and had characteristics that could make them viable h/c prospects. A couple of you have picked up on the considerable detail about historic drill holes - two of these (MSD-1 & TAF-1X) went right down to the Lower Jurassic, so if the Upper Jurassic was actually there, they should have recorded it. TAF-2 & KDH-1 may also have picked up some traces of Oxfordian. I assume that PRD has been in discussions with ONHYM about this new potential opportunity, and detailed historic well logs have been released and examined.
* What does this mean for PRD? MOU-4 found the original Jurassic target 200m lower than expected - the prospect map has now been substantially updated in the ITR compared to the last CPR. It now appears likely that a second Upper Jurassic (Oxfordian) prospect lies stacked on top of the Lower Jurassic carbonate reef that we were calling MOU-NE / Titanosaurus, and other previously unidentified Oxfordian prospects are also on the licence area. MOU-5 will target the new stacked prospects.
* Conclusion - we're going to need a bigger boat. |
Fully funded for all confirmed activities this year.
Potentially hugely transformational news, on more than one front, in a matter of weeks.
Zero debt.
Did i mention zero debt?
Any pi not in this is about to miss out on the chance of a lifetime. |
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