Immediate focus is obviously on MOU 5
But always good to have numerous leads and prospects within our licence area for future
Please see page 40
Recent commentary has mentioned ring fencing fields , which means on a success case we don’t have to sell the licence in full just the field of discovery and then go hunt the next titansaurous |
Morocco to invest $6bn in gas infrastructure |
The force is strong here.
Welcome to the descending broadening wedge:
free stock charts from uk.advfn.com
A bullish reversal indicator.
And considering the downward trend of late, the reversal should be to the upside.
A target of 5.4p to 5.5p is indicated.
Further out resistance/support all the way up to 9p.
Backing for the break out from the Bollies:
free stock charts from uk.advfn.com
The share price has jumped from the low of 3.8p to 5p and ended up, bullishly, outside the upper Bollie.
£58.90, still.
Be careful. |
Morning Mario - Nice breakfast surprise for me, I wasn't expecting any indications until early next week. Did you spot the 'Code 1' at 14.39? - suggests Monday RNS. |
GEX are still struggling to hold any rise, it's not surprising seeing as no drilling for months yet, unlike here in PRD,this is where the action could happen!! purplestain has all of his money tied up in GEX where he's lost an absolute packet. |
If we are going a bit deeper could hit some Tagi sands which feature in the ITR.
Keith I do remember "Anyone for Tagi" somewhere quite a while ago as was thinking the same before you wrote it(obviously without your conviction and experience!).
Gap will close to 5.5p mid without much effort next week imho after it opens 0.15 down on advfn on Monday cause of that late cross trade tonight. |
Closed at 5p mid! Bodes well for next week |
Thanks purps. |
only gamblers and fools from here on in
better odds at bingo but gl |
As I was saying...if it is difficult to buy now just imagine the difficulty when good news hits. Jumping out and then back in sometimes works....and sometimes doesn't. I reckon some are going to find themselves locked out. |
Another tick up! |
Yea and can’t buy online |
Just ticked up again |
Certainly starting to look interesting |
Well well *pun intended* |
Nice head and shoulders pattern on the chart; straight up now! |
Just goes to show how quickly it moves. With good news it will be very difficult/impossible to buy in sizeable volume..... |
Let's hope so |
deramper seems to have vanished |
 BillyRayVal [lse, today, 08:06]
MEM,
You mention of the oil leg in Guercif and it’s something I’ve been mulling over, particularly since the slightly unusually-worded spud RNS of 4th March:
“Drilling operations will continue during March until all of the Company's pre-drill potential reservoir intervals have been penetrated.”
With MOU-5 slated to be a max 10-12d drill, it seems a bit odd that Paul would specifically say that drilling operations would continue “during March” as this seems like an overly lengthy period of time.
The other thing of interest is that, in the IMC presentation on 20th January (slide 15), the cost of the MOU-5 is stated as $2.4M. However, just 5 weeks later during Paul’s Flagstaff interview, Paul stated that MOU-5 would be a $2.8-2.9M well. So the well costs has seemingly increased by $400-500k in just over a month. Why?
Well, and this option has been mentioned some time ago (Keith, I think?), I just wonder if the decision has been made to deepen the well to include the Triassic in order to explore the potential oil leg prior to divestment? The Proactive presentation from March 2024 (slide 14) suggests the base of the Jurassic is at ~1140m, so the rig certainly has the potential to drill deeper into the Triassic at this location.
I realise this is pure speculation and very likely to be codswallop (!) but taking the wording in Paul’s spud RNS suggesting a longer drill time (a month rather than less than a fortnight) and that “ALL of the Company’s pre-drill potential reservoir intervals” will be penetrated, combined with an increase in cost of up to $500k, might we be in for a surprise in terms of the drill depth?
Seabright mentioned previously the huge scale of the oil potential at Guercif (I’ll repost his message separately, incl. a conversation he subsequently had with Keith) so it’s possible that Paul may have decided that the extra cost is worth it in order to assess the potential of the Triassic as, in a success case, it would add hugely to the value of PGVL during the upcoming divestment process.
Apologies in advance if this turns out to be twaddle (and I’d certainly value others’ views)... but it’s something to think about whilst we wait for news (day 12 today!).
--
thanks brv, thinking along similar lines, but much more meaty!
what will be, will be |
thanks.
30sep - 'The MOU-5 structure has several potential migration pathways (fractures and faults); potential reservoirs (porous limestones) sealed by impermeable rocks; and adequate trapping in the form of a large structural closure.'
--
'during march' - suggests deep into march imho |
I think they mean the 4 zones within the Jurassic identified by the reprocessed seismic. But yes, no reason why the underlying Triassic shouldn't also be gas-charged - it is at Tendrara. Of course Paul knows all this, because he discovered Tendrara. |
'Drilling operations will continue during March until all of the Company's pre-drill potential reservoir intervals have been penetrated.'
-interesting line from the recent rns, because i thought there was only one target
-is there anything under the jurassic at this location? |
Looks like the overhang has cleared.... |
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