I guess phase1 has told them how deep the formation is damaged.Hence they can plan Phase 2 sandjet |
The force is strong here.
"For the avoidance of doubt, executing the rigless testing programme onshore Morocco remains our top priority" (7 Nov 2023)
"currently forecast that rigless testing operations will begin as early as possible in January 2024" (30 Nov 2023)
"the commencement of the rigless testing programmes is now expected to occur on or about 29 January 2024" (26 Jan 2024)
"following the completion of the Company's rigless testing programme, which is currently underway" (5 Feb 2024)
"Phase 1 rigless testing operations commenced on 10 February 2024" (20 Feb 2024)
Shareholders might want to recalibrate their Predator compass using what is written in a RNS and actual reality.
Especially when considering future funding.
Be careful. |
Problem with formation damage no one can know how thick it is. Sandjet should see them through and then the Ma sand in the words of the ITR "should flow". Plenty of room to make money the other side of sandjet results.
Meantime MOU 5 coming too.......onshore 426bcf target (P50). A fresh mind maybe needed as we sit at £48m cap. |
Mariopeter,I'm a bit sceptical about what was in the Jan RNS and current one with regards to formation damage risk. As for the Jurassic, well that depends on another well. More money, time-consuming effort, more commitment chasing an option. I'd rather they spend money getting a decisive outcome on the testing, as much as is required TBH.Looking to take a position. Will dip my toes in once it's confirmed they've got gasflow.Cash |
ohdearohdearohdear 19 Feb '24 - 15:50 - 6785 of 6803
0 2 1
Accumulation continues.........but some PI's are just happy to sell to the accumlator(s). Bizarre.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
ohdearohdearohdear! |
Conventionally tested far less less meterage than first intended so funding fully intact I would say... |
 Cash
You obviously very carefully read the conclusion bottom of page 58 on the ITR when they were referring to the formation damage on the Ma sand.
The surprise is that the formation damage seems to be everywhere. BUT the Company know what they have to do with the sandjet to meet the other part of the conclusion on P58.
Big ask for others to stay on board but I only unload when I envisage the share price will fall into abyss. Look what happened to the share price after MOU 2.
MOU 5 doing its job hedging the fall. MOU5 is into the Jurassic which is very large indeed and entirely different to anything else drilled historically. They caught it at the bottom of MOU4 having seen it on seismic. MOU 4 was deliberately located to try to nick the Jurassic and it did. Think I read not over-pressured so drilling muds can be more refined. ITR shows it a big target for onshore Morocco.
Funding in tact for now probably just and the Company now need some good luck. Sandjet will have to work. Side track and fracking not necessary yet but are options.
Biogenetic gas ...... |
John Henry,It may well be. Not much different to the team doing the ops.Cash |
Interested in how you managed to buy at 7.5p...I couldn't get near that this morning? |
Bet you're glad you didn't take that bet with me.. |
Some are extremely good at trading, they always buy at the very bottom. Lol! |
Oh Dear, PRD down 36%. Just shows, throwing mud , especially heavy mud, is not a good sport. |
The force is strong here.
Assuming there was no flow from Mou-3 and Mou-1 as no flow rate was announced does that mean no commerciality?
Is zero a non-commercial flow rate?
I wonder if the ITR will be ammended?
The idiosyncrasies of the management are looking less loveable today.
I'm still in the £42 club.
Be careful. |
Why are they still planning more wells when they have not been able to get a single one to flow?More shareholders funds spent on drilling but it's clear they don't understand enough about the formation to get it flowing. One thing's for sure, ramping will be in check now. PG neck is on the line given shareholders have been patient for years on this on.Cash |
The purpose of the test was to "confirm formation damage"? When did they ever say that before today? Smells like bs to me. How long before another complicated raise? Dear oh dear... |
This investing lark is clearly not for you Helpless.
Do you ever get anything right?
Just wondering like. |
The force is strong here.
"Mobilisation of the Sandjet crew and equipment will occur shortly after Petroleum Agreement Amendment #4 has been ratified and all necessary regulatory approvals for Sandjet rigless testing have been received. The time framework for the Phase 2 rigless testing programme will at that time be updated"
Expect delays.
Expect long delays.
And when timelines are given, expect there to be plenty of wiggle room and more delays.
Desperate.
Be careful. |
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