What the hell is holding this back? |
Continued success was a clear statement! |
The force is strong here.
The way testing is falling into place it would appear that all the testing equipment will be kept in Morocco in order to complete the Mou-5 assessment.
Phase 1 rigless testing will now occupy the first half of February.
Phase 2 rigless testing which was pencilled in "to commence in early February to early March" will now likely be early March to early April and is forecast to last 21 days.
Mou-5 should be a relatively quick drill and rigless testing could be accomplished by the end of May.
Be careful. |
Good news. Onto a new level. |
Managed to buy another decent chunk now at a little over 13p. You just got to love the trading numpties on here. After this morning RNS I did not think I would get a chance at this level again. |
Once the short term, small time, traders (who have now probably been caught on the HE1 spike) are out of the way, this will move up this afternoon. Staggering amount of news due in the next three months here..........starting next week! |
I like this bit. It confirms that testing has started. How's the satellite pictures shaping up? |
MOU-5 is expected to be drilled between 1 April to 31 May 2024 in order to avail of in-country well services that will remain following the completion of the Company's rigless testing programme, which is currently underway, thereby reducing mobilisation costs for well equipment and services. |
Also confirmed that testing underway. No additional funding required for the MOU-5 drill, which is an unexpected and very nice surprise. |
Smart move too, securing the rig ahead of Chariot, given their news this morning... |
Happy days , jurassic drilling confirmed , probably some time in May |
l and development programme would potentially open up opportunities to exploit our onshore proximity to the Maghreb Gas Pipeline, which is located less than 10 kilometres from the MOU-5 drill site. This is a significant advantage for any future potential developer of a gas find as it will reduce capital infrastructure costs and the lead time to "First Gas"For any future potential developer of a gas find - does that mean they are expecting to sell the asset? |
Very upbeat - 'continued success' stated! |
Very upbeat RNS, all looking very good at present. |
Well 1 week of testing should be gone tomorrow so potentially results announced later this week |
A couple more sizeable trades (assume buys) today as well. Does seem to be some accumulation happening, which will most likely accelerate next week. I reckon the accumulator has 10 trading days, at most. Will be an interesting watch. |
The force is strong here.
FWIW.
hxxps://www.msn.com/en-ie/money/other/reliance-on-imported-gas-grows-as-irish-production-drops/ar-BB1hFVny
"According to the CSO, gas imports represented 79% of the total metered supply during November, with production from the Corrib gas field and biomethane plants accounting for the remaining 21%" .
Be careful. |
This is interesting although 4 days in arrears: |
Thanks Keith. Had not realised they had said that after MOU 1! Lovely fault system in the basin. ONHYM have been responsible for keeping it under wraps so hopefully they are ready to expose the truth at least to the ONHYM preferred suitor likely lined up now and just waiting on flows. May be selling soon with contingent consideration on the Jurassic.
Had a big drink of water...yum yum. |
@MP - not just MOU-3 & -4. The whole system is charged from top to bottom, and the market has been told this for years, but has not listened. Right from MOU-1, which was bizarrely widely believed to be a duster, there has been a complete lack of understanding. It's worth re-reading old RNSs - for example 28th September 2021:
"The operations team, with significant Rharb Basin drilling experience, reported that the MOU-1 well encountered a very similar geological section to that of the Rharb Basin, with EVIDENCE OF GAS OVER SEVERAL HUNDRED METRES OF GROSS SECTION penetrated by the well." .... "the increase in mud weight was required to drill through a SIGNIFICANTLY OVERPRESSURED section".
You can take a horse to water.... |
Thanks for your input Keith . You were right about HE1 being able to announce a strike.
All action here in the next two weeks. If Guercif flows like the Gharb next door , as the geological comparison says it should, then very very happy days ahead. We just sit back and let it all unfold.
If you remember all the various sands at MOU 3 and MOU 4. Every single sand charged. PG knows what he is doing and was at the crest of this discovery on his second drill. No wonder Chariot have moved onshore …the country may never need its expensive offshore discovery. PRD are way ahead and thankfully not chasing bubbles in the Gharb. If she flows and with that fiscal backdrop, I don’t think PRD will ever own or lease one truck. |
from the bumpfth
"Produce combined flow rates at or in excess of 50mmcfgd from around 150m of reservoir intervals" |
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