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God damn it!!!!
* maybe there was a tale tale sign to back off and live to fight another day?
Jono that’s fair enough - I guess dry hole sounds so terminal and so negative to the point where one would read that and assume the BODs turned to each other and asked where next lads, following the completion of P1!
I am in the camp that P1 produced enough to peek the interest of a few suitors - a bit like a short skirt - long enough to retain modestly and short enough to keep you interested...
Anyway the fact that perhaps TD was at the top of a structure and rather than risk a drop of any oil seeping out thus playing into Fred’s hands and let’s face it maybe assist with the raising of the 200k they stopped and in doing so also saved cash as well as showing drills can be carried out successfully without impacting the beauty of the region. I’d imaginge the pressure of any oil at that depth would be huge - maybe there was a tape take sign to back off and live to fight another day?
Yes I do wear my heat on my sleeve - life has been tough but that’s for me to deal with and not something where I feel life and society owes me. My investment here like many reading this could really be life changing not just to me but my family, so yeh I take exception to bashers who lie and manipulate to suit their agendas from the comparative safety of their keyboards and hope one of em is made an example of - the same can also be said for the rampers who do the same in reverse!
Still the truth always outs in the end and my theory might be wrong - it’s 50/50 but that’s a chance I am willing to take.
Enjoy your evening and look forward to exchanging views as the story unfolds...
Got to agree this bb is 100% non experts posting their opinions, similar to most bb's wouldn’t you agree.
But that's bb's for you, but if anybody is an oil and gas expert please say so, but going by the post I've read all non experts as you say.
Maybe though some should actually Google what a dry hole is and read some 'expert' opinions, that would be my non expert advice.
Just to say I think you post with your heart on your sleeve and accept others have different opinions and you do not dismiss them out of hand just because of that opinion.
But I have to disagree that you don't except that P#1 was a dryhole.
Fully agree that until all the data is analysed then it could well prove that another drill is warranted but as you say we will have to wait and hopefully the tight hole requirements allow that to become public knowledge.
Also that p#1 was never intended to be put into production regardless of the outcome.
But if an oil company drills an exploratory well and it does not flow with commercial quantities of oil, as was stated here for p#1,then they will class it as a dry hole and that is my understanding.
But as ever just my opinion.
ATB have a nice day
* How many times have supporters left a ground early thinking their side lost only for 2 quick scores to win the game??
Post of the week by GG... although the later half of the post appears to have missed the results from P1....?? Strange that!
Everyone on here can post projections or opinions but its all down to results. Everything is down to results.
Sooner or late the crunch will come, its either great results from Cerp wells or bust. Simple as that. GG
So in conclusion no one can call the BOD anything until those results are in... no one can call P1 a failure until those results are in.... no one can classify the hole as dry until those results are still in... no one can say the JR case is won until we see the results...
You get the picture...
It a horse race - you have bet on the nag that’s third from the back with a furlong to go... some posters are behaving and posting as if the race has already ended.... and thrown away their betting slip...why on earth think like that - read the RNS again and see if what some are saying could hold some credence?
How many times have supports left a ground early thinking their side lost only for 2 wick scores to win the game??
Of course you don’t have to be invested to comment but let’s face it the majority of those negative comments are from those who are not - no agenda there then? Oh the games and charades of the day traders...
All in all we live in a world where expectations are set as instant or nothing... many need to chill out and relax... there is a setting in between and it’s called patience.....
Never use fully funded and BPC in the same sentence.
I am invested. Although I don't think being or not being invested means you are not entitled to voice an opinion.
I like to think I am a realist and call things how they are. I don't think calling a crap situation crap makes it a biased opinion.
Zag, we're fully funded , 15m available cash, fully funded for the saffron and the Suriname drilling, you won't get a better price than this.
I take it you'll move on when the sp moves up then,
Now the oil prices have nearly doubled in the last 6 months the value should move this tiny mkcap upwards, we shall soon see.
1p+ by the end of the month, easily.
The Company currently has approximately $15 million of available cash (inclusive of the funds to be made available on 28 February 2021 under the Facility).
The immediate anticipated cost of planned activities in Trinidad and Tobago and Suriname in the balance of H1 2021 (in particular, the drilling of Saffron 2 and the WNZ appraisal well) is approximately $4 million. The timing of future operations in both Trinidad and Tobago and Suriname remains dependent on the speed of permitting approvals, and Covid-19 access constraints. The Company will update the market with regards to the detailed work programme and timing of operations in due course.
* fulled not field
Oh you are invested - then I put to you again how can you say the drill was a failure yet still don’t know what the results are ??? You maybe right but you could also be wrong so stating it’s a failure is a blatant lie as no one actually knows yet...
Please don’t tell me that you are relying on the SP as a barometer as that is field by people selling along with the market reaction to the news that the well was not commercial - what do you think the market will do upon positive news from the results?
Respect your view but please don’t post lies and confuse opinion as fact...
Here because I want to be here and will jump back in after the next placement. I lost a considerable amount in this debacle of company, due to the BOD incompetent actions.
I do see T&T as a bright light but not yet until they give details and funding structure, maybe they are fully fully funded.
P1 Dead donkey
Antha - apologies as I interpreted your post a little different - yes I agree they will need help but then could an RBL be sought?
Zag then why are you even here??? Makes me laugh how you stand by your post but let’s face it that’s all you have... I wonder if you will be so candid when the results are announced and reveal its secrets...
Got much invested then? Thought not... lol
Shouldvsold- agree the market thinks it was unsuccessful - however like you they don’t have access of the P1 results - no one does so as I say until the results are in that posts is pure conjecture and sadly biased - I assume you are not invested?
Nobody here knows what p#1 has delivered. Till a CPR is produced it's all complete guess work. Certainly there would be no point in progressing a Farmout unless you have something to FO in the first place.
We are all free to have our beliefs and opinions and share them here.
I don't think the market agrees that P#1 was a technical success, if it did, it would have been reflected in the share price. If the analysts would have agreed, I think they would have re-rated the stock with a target based on P#1 actually being undervalued.
What is a licence worth if it has 10billion barrels of oil in place but it will only trickle up to surface at a tiny rate?
Spending $130m on a project to get a return on a a few barrel a day for the next 100,000 years isn't a great ROI or smart invest decision in my opinion.
I think if Potter released a webinar presentation to state the volumes of oil in place they actually found, the amount of shows, the potential oil flow with a side track, ok. One could argue a technical success. But until he does that, in my opinion P#1 is a duster and there is no shame in that. It is what it is.
Thanks for posting and puts into perspective how all the tit for tat posts need to stop.
Hope things go well.
Great post Jim. I’m sitting on 5m shares at a tad over 2p and remain confident I have an excellent chance of a sizeable return.
.and so we didn't bend to the knee of the enviros.........!
we actually did right by them......... :)
All the best (I'm sure Fred's impressed .......... Saffron......... :)
Starchild and Tiburn - thanks for excellent posts overnight and a.m.
Jimtheknow - thanks also for your excellent points. I must admit it had occurred to me that perhaps Black and Veach were ultimately responsible for stopping the drill: as you say, we couldn’t risk so much as two molluscs and a Sea Trout being poisoned by a thimbleful of grey water. You are right: that would have been the final, final curtain.
I known what the market is telling me, and that is drilling was a failure so I stand by my post.
Egg, I have a substantial holding here so I am on your side however what I have said is correct in that without a major onboard or the licenses sold there is no way bpc can monetise the Bahama's asset on their own, luckily they have the cerp's assets to fall back on.
Bang on with that post Jim...
Antha - you do not know of any failure or success until the results are seen until then it’s merely your opinion - so perhaps you should think before you make statements of fact?