If the sand jetting fails (more likely to fail than succeed) this is heading back to 3p, May even drop further as they have diluted the share holding since the 3p days.
High risk here and not high reward |
 The force is strong here.
"Some great info on Sandjetting posted on LSE"
And they might all be making the same mistake.
"Small" perforating guns were used in the Phase 1 tests and failed to flow gas.
When the guns were used it was believed they would be sufficient.
Although there are some posters who would have you believe it was a slight of hand by management.
Probably the same people who thought that there were pools of water seen on satellite images prior to Mondays RNS which indicated Mou-3 test was successful, and Mou-1, and that the company had started drilling Mou-5 and Mou-3 SSE and Mou-3 NNW and that the CNG had expanded to 250 MMcf/d.
It wasn't quite true.
Read the RNS:
"presence of potentially deep formation damage"
"are very confident that we can design the Sandjet testing parameters to extend
beyond the zone of formation damage"
"We are however fully aware that we need to flow gas from our main zones in the
most effective manner after accounting for formation damage, and we have
confidence in Sandjet achieving that objective"
The Phase 2 testing puts the company back in the position it was in before Phase 1 testing.
It is a test.
If the result was certain there would be no need for a test.
Be careful. |
Thank you John
Bdt |
Some great info on Sandjetting posted on LSE. |
Like I said the other day… people need to learn to read… |
As i said a couple of days ago, a lot of folk who sold out on Tues/Wed will be buying back next week....... |
Good buy. Should be back at 13p during testing. This worth quite a bit of money with the Ma sands and shallow MOU 3 bag-able ( at worst requiring new wells) but an awful lot of money if the fan (over pressured) flows at 30mmcfd after sandjet. They were not using heavy muds for no reason in MOU 1 and MOU 3 so the gas is there. |
Worth a highlight;The initial phase (ie phase 1 just completed) is important to us for designing and implementing the Sandjet rigless testing programme which will follow on after the Sandjet operational planning work is completed."Took a few more shares today :-) |
I bought 80k more shares this morning. Let's see where this goes soon;"Paul Griffiths, Executive Chairman of Predator, commented:"We are pleased to be finally making progress on the rigless testing programme. The initial phase is important to us for designing and implementing the Sandjet rigless testing programme which will follow on after the Sandjet operational planning work is completed." |
I don't know why there is a worry tbh. There is no indication that the Moroccan's have been anything other than hugely supportive of the companies that work in kingdom. I guess the uncertainty is in the when, rather than the if. |
Normally takes 3 days to flush out all the sellers, today should see the final low before consolidation.
I think the general worry now is over PA no4 |
Yes. I think everyone knows that divie, but thanks anyway.
I'm expecting some sense to return today and for folk to realise that the last couple of days has been a little bit of an over reaction. |
Not any more, they won't, without Amendment #4 in place and a crew organised after that. |
The force is strong here.
In the ITR, Phase 2 rigless testing was divided into 2 parts (page 9).
The first part is pencilled in to take 21 days.
The second part, which is more involved, would take at least another 21 days.
Both, of course, would require the Amendment 4 extension which would last until 5 June 2024.
Time is of the essence.
Phase 2 rigless testing would take 42 days in its current form.
Be careful. |
theyve added MOU1 into the sandjet and the penetration into the formation is likely to be deeper than originally planned. More time needed.
Hopefully we will hear all about in the next few weeks |
"Phase 2 rigless testing operations using Sandjet are planned to commence in early February to early March. The duration of operations is forecast to be for up to 21 days." |
Sandjetting MOU 1,3 & 4 is gonna be a big testing operation probably take 3-4 weeks |
No debt. The issue folk have got fixated about right now seems to be granting regulatory approval for the Petroleum Agreement Amendment 4.
I have seen no evidence of the Moroccan authorities being obstructive, with any of the in kingdom companies...........Sound, Char, SDX or PRD. In fact on the recent SOU investor call, their CEO made sure that he praised them for all of their assistance. So, an irrational fear as far as I'm concerned. But it certainly would be good to get it granted and for the sandjet plans to be formalised. From the 12th January RNS:
"Phase 2 rigless testing operations using Sandjet are planned to commence in early February to early March. The duration of operations is forecast to be for up to 21 days."
We've clearly missed the start (and middle) of Feb. Still on for early March I wonder?
Looking on the bright side, at least it looks as if we will be given the opportunity to move more of the shares into the new iSA allowance before the testing results come through...............! |
Worth noting MOU4 wouldnt not have suffered any formation damage. |
Ah Purple you are so kind but we are grown ups. When you state "nothing there" are you referring to :Morocco MOU 1Morocco MOU 2Morocco MOU 3Morocco MOU 4Morocco MOU 5Morocco MOU 6South CorribKinsaleOr Trinidad ? And when you have answered that which sands in Morocco 1,3 and 4 are you talking about? |
Same here just took more at 7.50p |
Those in here long enough will k now how the share price behaves. Once the sandjet schedule is released, the price will move up beyond 13p again. Of course, beyond that, it all depends on the results.
More than happy to hold and add. Seen it all before...many times. |
Hope it turns out ok for the holders but this is very similar to red emperor a few years ago |
Purple whats your next target entry if i may ask?My last trade went well and back in for another one |
Divmad,Agree 100%. If they cannot get this flow - it's pointless going on about TCFs of gas or biggest race to the finish line or whatever some over enthusiastic folk keep trotting out.There are two options here; deliver gasflow at commercial levels or prepare for failure like many other smallcap oil co's. The other assets are sideshows to this, so they won't save it.Cash |
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