Maybe you guys just can’t read…. |
Thanks, If history is to be a guide, prd always rises into any drill or testing.Also Jurassic drill in the pipeline. |
Good luck but don't think there will be any rise until the results of sand jetting. |
Got back in yesterday about 8p and just added at 8.50p. Imo should see another 50%+ rise from here by the time the sandjet test starts. |
Agree. But they did manage to give a schedule in a previous rns. |
They don't have the prerequisite #4 extension and worryingly don't seem to know when they will, so how can they give a schedule? |
The force is strong here.
There is a myth in the RNS.
"information was critical for designing the Phase 2 Sandjet programme, including perforating parameters, and for evaluating additional potential reservoir intervals interpreted by NuTech but where conventional wireline logs were potentially impacted by deep invasion of drilling mud into these intervals"
If Phase 1 testing was critical as described by the company why was the company going to use "Sandjet perforating technology" without any prior testing for the September execution as mentioned in RNS dated 30 Aug 2023?
A case of putting lipstick on the carcass of the pig when they saw it was dead.
Failed expectations are being assuaged.
There was no gas flow.
Something they might have found out 2 or more years ago if Mou-1 had been tested.
There are some big bumps in the road.
Permitting, time and cash being the biggest.
Don't worry about the latter.
Novum Securities and Jon Belliss are primed.
Be careful. |
Not an awful lot has changed imo. Phase 2 testing was the key yesterday, as it still is.
What i didn't like was the belated admission that conventional testing was merely to satisfy the license. They needed to satisfy it because they ballsed up a few weeks ago.
I also didn't like the belated admission that phase 1 testing started a lot later than they let us believe.
I also don't like the fact that we no longer have timelines for phase 2, whereas we were given timelines a matter of weeks ago. Why? Nothing should have effected the phase 2 testing timelines.
So, all in all, some (more) trust in PG has been lost. But overall all that has happened is more delay. And as the market hates delays, it offers the opportunity to add some more. |
I think griffiths knows just what he's doing. He's lurching quite successfully from placing to placing to make sure he still gets paid no matter how bad the results of his efforts on the ground. |
Lost all confidence the CEO understands what he is doing |
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! |
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