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Morning all,
Hydrostatic pressure explained.
https://www.quora.com/What-does-hydrostatic-pressure-really-mean-in-the-context-of-petroleum-geoscience
Quite a few replies, but the general knowledge is in here.
GLA
Wacky
Hi all,
Have just re-tweeted this with a link to our MagMell project.
Apologies, it’s a pay per view article but you will get the jist.
https://www.businesspost.ie/energy/brexit-fallout-leaves-ireland-short-on-energy-options-2c2f650a
GLA
Wacky.
Morning all,
GRH, Crikey is definitely the correct word.
@7.5 million options to be exercised within
6 MONTHS.
That would equate to not very long in time after MOU1 extended well tests.
London you are on Notice.
GLA
Wacky.
Hi Kieth,
The Prd license’s are current and fall under existing, so what we are waiting for are the Frontier Exploration licence’s.
I did read sometime ago in a Prd rn or presentation that for the Frontier Exploration license to proceed, the next step was to prove suitable financing arrangements.
It may or may not now be the case.
Hope this helps.
Atb
Wacky.
Morning all,
No coincidence that our Coo, Lonny Baumgardner twitted about exciting times in Morocco.
The interview with french news outlet Le360 was centred around Chariots recent announcement, however Guercif got a mention in the interview.
“The boss of the National Office of Hydrocarbons and Mines (ONHYM) assured that Morocco has a strategy to counter the end of the supply of Algerian natural gas via the Maghreb-Europe gas pipeline. Amina Benkhadra also confirmed the importance of the discovery of gas off Larache, by the British firm Chariot.
“We have a strategy to deal with the closure, since October 31, of the Maghreb-Europe gas pipeline and we are working on this project which will allow us to ensure security in terms of electricity supply from various power stations in Moroccan production,” said Amina Benkhadra, in an interview with Le360.
The official also indicated that the gas pipeline, which has become the property of the Moroccan state, "remains, until today, technically subject to constant maintenance".
The Director General of ONHYM also dwelled on the recent discoveries of gas in the Anchois-2 deposit in Larache, granted under the Lixus Offshore permit, and in the Guercif site, near Taza.
The production of natural gas from the Larache field will start at the end of 2024, she confirmed. Gas from Larache could be used to produce electricity, by supplying power plants in Kenitra, Mohammedia or Tahaddart and to supply industrialists in the Kenitra area.
During the years 2022 and 2023, many works will be carried out “related to the assessment of gas potential and to simulation studies of geological reservoirs”, underlined Amina Benkhadra.
Other stages will concern, before that of a decision on the value of the investments, “engineering studies including expertise on the environmental impact and the route of the pipes”.
According to the boss of ONHYM, the integration of all the results and their interpretations will make it possible to assess the gas potential to be developed in this area.
Preliminary data from the discovery of the Larache deposit show the “presence of an accumulation of good quality gas at the level of the Anchois-2 well, over a net thickness totaling 100 meters spread over 6 zones, with a thickness varying from 8 30 meters for each of the zones”.
The British firm Chariot announces a major gas discovery off Larache
Drilling work began on December 17, 2021 to reach the final depth of 2,512 meters on December 31, 2021. A few days later, on January 10, Chariot announced “an important discovery” of gas at the Anchois-2 well.
“The production of the Anchois-2 field must supply national gas needs as a priority before selling, if capacity allows, abroad”, explained the director general of ONHYM.
Good quality Gas, in plentiful supply, (Guercif reading between the lines)
AIMHO of course.
GLA.
Wacky.
Afternoon GRH
Regards
Wacky.
Hi all,
Talking of shares, did anyone notice the befuddledment of the Sound energy investors on their chatboard today,
I must admit, Sounds management announcement to bid for Angus Energy, when the company is not flush with cash, has more than it can chew with the Tendrara license, is in talks with the Moroccan tax authorities about a ÂŁ7.0million liability and willing to dilute its shareholders again to buy a small gas field in the U.K. is quite baffling.
Unless they want out of the current ties in Morocco.
Which would mean the license and all its current contracts (Africagaz , gas sales agreements etc) would be up for sale.
I’m not suggesting we are going to buy the assets,
Where would the cash come from ?
Would we want this extra exposure when we are already fully loaded ?
But who do we know that knows where the real gas deposits are in the Tendrara license ?.
Just a thought.
GLA.
Wacky.
Hi all,
Redbox, thanks for posting.
A similar article in the British press would be most welcome.
But in the meantime I spread the word the best I can, everyone has the opportunity to make a decent return on their investment with this company.
AIMHO of course.
GLA.
Wacky.
Hi all,
A tad late for this carry on, on a Sunday evening,
But if f we’re going to speculate this would be one of my bets.
http://www.afriquiagaz.com/images/plaquette_081020.pdf
Out of 45 million lpg bottles in circulation in Morocco, Africagaz has 25million on its books, so to supply indigenous gas for its customers would be so much better in all regards than importing the fuel, which it currently does.
(Morocco’s only refinery closed down 2016, however the Russians have agreed to fund a €2.0 Billion replacement, yet to be built, which can reform Natural Gas into LPG)
https://www.google.co.uk/amp/s/mobile.reuters.com/article/amp/idUSKBN1X22KG
As we know Africagaz has recently tied up with Sound Energy, Paul’s first exploit in Morocco which was taken away from him when Fastnet decided to bail out of the O & G industry prematurely.
(Paul knows where the gas is on the Sound licenses)
It would be politically good for Morocco,
and finally Africagaz is owned by this chap.
https://www.google.co.uk/amp/s/billionaires.africa/afriquia-gaz-controlled-by-moroccan-billionaire-pm-aziz-akhannouch-reports-567-million-in-revenue/amp/
AIMHO of course.
Ps if this is way of the mark, I’m blaming it on the single malt.
GLA
Wacky.
Lonny’s re-tweet
https://mobile.twitter.com/lonny1971
Atb
Wacky.
Yes HM,
The market took those figures in the wrong context which I went onto later prove were “quite good” as in a comparison to Grf1 and Anchios1. And also importantly taken from a well which was drilled on the periphery of the Mou field.
I still believe Paul was under orders from our partner not to “Shout from the rooftops” on what we have discovered.
Things have now changed, the last rns has put a small amount of detail available to Market, a relatively small amount of gas unrisked worth ÂŁ590 millions.
As for the trust issue, I agree it does exist, I for one don’t trust the Market as far as I could throw it and I believe Paul may have the same thoughts.
I tried a dummy sell on IG just before close of play yesterday and they would take in one hit 2.5million shares @ 0.49p on the bid worth ÂŁ122,000
A bit short on them are they ?
What about all the other houses ?
AIMHO of course.
GLA
Wacky
Morning all,
HighlandMatt, a good explanation on comparison between the two companies.
The gas shows you refer to as in Prd 1.7% is the Background gas reading taken from the mud logs when drilling, this reading is taken from the reservoir body.
As you will notice in the Jul 6th RN there are also Formation gas readings of 1.8 & 3.8% respectively.
https://www.lse.co.uk/rns/PRD/mou-1-update-24h4jsyz9fxq27q.html
A Formation gas show is the amount of gas which is released into the wellbore as the drill bit crushes the rock when drilling.
The Grf1 mud logs show very similar readings to Anchios 1 (0.2%) on a prd presentation.
However the big difference between Anchios1 (0.2%) and MOU1 (1.7%) is that the MOU1 readings are 8 x greater in concentration of methane than Anchios1 readings.
That is the reason for the multiple comparisons of the two companies in various rns and presentations.
In other words “they’ve got that, But Look At What We’ve Got” !!!!!!
Why the market are not or appear not to be taking any notice is because I believe the “shakers” want a bigger slice of the pie !.
Paul is having none of it, why should he dilute his share and ours by £millions just to keep the “machine” happy,
On a successful perforation and flow test the offer of funds will become available but on our terms and not theirs.
That was the reason for the wording and limited content of the latest rn. & Cpr.
And my comment. “London on Notice”
AIMHO of course.
GLA all lth and genuine investors.
Wacky.
Morning MeM,
Many thanks and regards to your good self.
Atb
Wacky
I think Paul is or has lost patience
Morning all,
Apologies for off grid, personal changes are afoot.
Well we’ll,
Paul has just put “London” (U.K.) on notice.
It’s all there, an initial prize of £500million + for a startup cost of £12million.
Are you in or out ?
AIMHO of course.
GLA
Wacky.
Hi all,
KiethOz,
Many thanks for your excellent contribution.
I took another look at the September presentation as you recommended.
I agree with your view.
To take it one step further I would like to suggest that there is another formation to the east of the faultline.
The Hoot and Alluvial fan reservoirs terminate on the west side of the faultline or trap. As you will notice the gas cloud to the east forms further up in the formation which because of the faultline would tend to suggest that part of the cloud is being generated from another source, probably from the rather thick red anomalies immediately below.
https://wp-predatoroilandgas-2020.s3.eu-west-2.amazonaws.com/media/2021/12/seismic.pdf
Could this be an interpretation of Mou/NE ?
A little light viewing to pass the time.
This video was made available by Tullow Oil, this would appear to be the perfect requirements in their opinion to find the perfect Hydrocarbon Well.
https://www.bing.com/videos/search?q=how+to+read+3d+geophysical+seismic+graph&&view=detail&mid=A85211E43F500EA3A525A85211E43F500EA3A525&rvsmid=66A37654667FEB649F9366A37654667FEB649F93&FORM=VDMCNR
Anyone notice any similarities with regard to the Guercif Basin.
Without giving the game away, there are a few.
AIMHO of course.
GLA.
Wacky.
HI all,
Bit of info about gas clouds or gas chimney.
"Chimneys have often been observed near producing fields"
"Traps with chimneys on the flanks of the structure will often have hydrocarbon column heights corresponding to this spill point"
https://onepetro.org/SEGAM/proceedings-abstract/SEG15/All-SEG15/SEG-2015-5910718/65454
Prd new seismic of Mou 4 & 5
It looks to me that the gas cloud/chimney is being fed via two separate reservoir's, one to the left and one to the right of the vertical line running through the cloud.
https://wp-predatoroilandgas-2020.s3.eu-west-2.amazonaws.com/media/2021/12/seismic.pdf
Any clarification on this would be most grateful.
GLA
Wacky.
Morning all,
Interesting article in the Irish Times.
Think they’re going to need a lot more gas,
Possibly more than just another “Corrib “
“Eirgrid noted that it is planning auctions for more than 2,000MW of gas-fired plants by 2030”
https://www.irishtimes.com/business/transport-and-tourism/new-power-plants-likely-to-meet-just-a-fifth-of-energy-need-industry-figures-say-1.4757405
AIMHO of course.
GLA.
Wacky.
And that Zebra is why the market got it wrong again.
We all know we are sitting on money in Mou1 and I will admit I was disappointed when the company announced that the rigless testing would be following SDXs program.
For all we know Mou 4 & 5 could be duds, until they’re drilled.
The company is following the right course of action now by bringing the testing of MOU1 forward by six months.
But my point is, the Market even if it was expecting Mou 4 & 5 should have recognised a massive speed up in the timeline of monetisation of Mou1 and the benefits that a positive outcome would deliver.
But they’re money men and that’s why they messed up or I should say missed an opportunity.
I always enjoy your posts but can’t agree with you on this one.
Atb.
Wacky.
Hi all,
Once again the money men fail to recognise a great Rns ?, because I didn't.
Strong words on my behalf considering what they have done to the sp.
1. The timeline for monetisation on a successful perforation and well test on Mou1 has been brought forward by 6 months.
https://wp-predatoroilandgas-2020.s3.eu-west-2.amazonaws.com/media/2021/12/schedule.pdf
2.MOU-4 Fan Prospect tested and de-risked by MOU-1 - 32km² confirmed.
3.Porosity of Mou1 confirmed. 21%
4.Permeability of Mou1 increased.
5.A higher gas pressure than anticipated by 500 psi
6.Very good log analysis results by Nu-Tech. on Mou1
https://wp-predatoroilandgas-2020.s3.eu-west-2.amazonaws.com/media/2021/12/loganalysis.pdf
7.CONVENTIONAL well logs delivered at the end of the well did not have sufficient RESOLUTION to correctly characterise the reservoirs.
8.Log porosity & gas saturation under-estimated in heterogenous finely-laminated reservoirs
9.MOU-1 penetrated only the extreme western edge of the MOU-4 Fan.
https://wp-predatoroilandgas-2020.s3.eu-west-2.amazonaws.com/media/2021/12/fanmap.pdf
10. MOU-4 well will be approximately 8 kms. east of MOU-1 but within the same COMMON structural closure as MOU-1.
11.MOU-4 will target a sub-area of the MOU-4 Fan with an independent 4-way dip closure covering 7.3 km²
(reservoir beneath the reservoir)
12.potential "gas cloud" developed at the eastern limit of structural and possibly stratigraphic closure.
https://wp-predatoroilandgas-2020.s3.eu-west-2.amazonaws.com/media/2021/12/seismic.pdf
13.The Company is fully funded to carry out the extensive MOU-1 testing programme.
And that's just Morocco.
I could go on & on, but just as an example of what we investors in Predator are up against.
An article by StockMarketWire.com and the very first paragraph tells you they have read the RN incorrectly, are way behind the curve and/or have published with a negative slant.
https://www.stockmarketwire.com/article/7224377/Predator-Oil-Gas-plans-more-testing-work-at-Morocco-well.html
An interview with Paul would be welcome to set the record straight.
Tomorrow may be a better day.
AIMHO of course.
GLA.
Wacky
BillyRayVal,
Totally agree,
It gives the greens a get out clause which they can hide behind, but also more importantly will give the green light to the finance industry to open the coffers to the investment of gas, infrastructure and related projects, but I don’t think if it gets approval covers fracking.
Roll on Thursday.
IMO.
Atb
Wacky.