PREDATOR OIL & GAS HOLDINGS PLC (PRD) — Investor Presentation

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the PREDATOR OIL and GAS HOLDINGS PLC investor presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged. They can be submitted at any time via the q and a tab that's just situated on the right hand corner of your screen. Please just simply type in your questions and press send. The company may not be in a position to answer every question it receives during the meeting itself. However, the company will review all questions submitted today and publish responses where it's appropriate to do so. Before we begin, I would like to submit the following poll. And if you could give that your kind attention, I'm sure the company would be most grateful. I'd now like to hand you over to CEO, Paul Griffiths. Good morning, sir. Good morning, Jake. Good morning, everyone. Thank you for all attending. Let's dive straight into this. So this is an update on the MOU to GAS HIT Morocco drilling, which we RNN's just recently within the last week. So you can appreciate that we've had just a few days to put what we think is a good good representation of the results of the well so far. So let's move on straight to slide three. And this sorry. Sorry. Yes. Okay. Right. Just summary. So MOU two, as we announced the market, was suspended above the private target, and we needed to reevaluate the drilling rate and how optimum that was simply because the mud that we used for this well wasn't working in the deeper section. The second thing, you know, obviously, prudently, we wanted to reduce drilling costs. We didn't want to be making one meter an hour progress indefinitely or for longer than we actually had to and using up money and cash simply by not making sufficient progress. The initi...