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So news is just an update without much to write home about.
Waiting here until the end of March 2020 as this is when I believe we will see the results we've all been holding out for.
Yes, I do have faith in Leo and his team, that's why I'm still invested in Cerp.
The economics of this CO2 pilot project are a very fine line and is only economic because Fram can claim previous years losses against spt
If PRD don't pay the $4.2m then I've worked out there is only a $17m pot to go for on this pilot over a 7 year life divide x 2.
The main field is much better economically but the spt is a barrier
Hi willec
Sense has gone out the window today.
What's logging got to do with today's Rns zilch.
If their talking about Saffron then the news was hurried to get the ministerial approval application in as quickly as possible.
Edgar - Innis Trinity was producing circa 200 bopd. When CERP acquired it - at those levels the field is unlikely to be profitable under the IPSC - upping production from the field pushes yield per bopd in a positive direction as well as creating cash to repay the PRD capital outlay, which, in turn speeds the time when CERP benefit from the 50/50 split on the CO2 wells, even if the $4.2 million doesn't materialise.
Willec - sagacious observations regarding the other board - those making such provocative comments are known to be non shareholders. Shareholders understand that it was a condition of the IPSC extension on Innis Trinity that work progressed in a timely manner so that it was quite proper to reassure shareholders that CERP/PRD were compliant - what's not to like!
in4cedros
Totally agree that the knowledge from CO2 may be useful. But useful in a possible jam tomorrow way. Not cash generative (except for the $4.2m!).
Personally, I am still hopeful that waterflood may surprise.
Some have stated on another BB that the RNS this morning was released in a rush because the logging hasn't gone the way they planned. Not my view just thought I would share.
Edgar - Chancers is clearly a pragmatist as well as a visionary- he realises that the CO2 project is our chance to actually get some points on the board whilst the longer game is being cunningly played out at the SWP.
The CO2 scheme is a pilot for this system on Trinidad and could have significant application elsewhere on CERP projects now that LK is enthusiastic about it.
LGO-fan
Perhaps they should take a leaf out of Bing Crosby's book
You got to accentuate the positive
Eliminate the negative
Latch on to the affirmative
Don't mess with Mister In-between
You got to spread joy up to the maximum
Bring gloom down to the minimum
Have faith or pandemonium
Liable to walk upon the scene
(To illustrate his last remark
Jonah in the whale, Noah in the Ark
What did they do just when everything looked so dark?)
Man, they said, "we better
Accentuate the positive
Eliminate the negative
Latch on to the affirmative"
Don't mess with Mister In-between
No, do not mess with Mister In-between
Do you hear me, hm?
(Oh, listen to me chil'ren and-a you will hear
About the eliminatin' of the negative and the accent on the positive)
And gather 'round me chil'ren, if you're willin', and sit tight
While I start reviewin' the attitude of doin' it right
(You've got to accentuate the positive
Eliminate the negative
Latch on to the affirmative
Don't mess with Mister in-between)
You've got to spread joy
(Up to the maximum)
Bring gloom
(Down) Down to the minimum
BTW, am I the only thinking our RNS/comms is getting fuller and duller. It’s ok to be succinct but boy...this is the driest RNS ever. “can’t be really bothered to tel ya, but we started it. Now bugger off!”
Thechancers
Of all the reasons to be in CERP (and there are many) the Co2 injection project strikes me as an odd one to pick.
The upside is capped at $4.2m. That being the buyout price as per the extended FRAM agreement with PRD.
$4.2m is nice. But it is not exactly a company maker.
What am I missing?
We normally drop on good news. Been the trend for the last 4yrs .. see if that trend changes today ... MMs gonna be hoovering up once small fish exit ..
Cruse
Upper and middle crude logging data should also follow “shortly”
I have been waiting for a year to hear this news, This is why I am in both cerp and prd, both companies benefit once oil is produced, so hopefully, we will see a upward movement today, cerp is cheap at the moment.
Good RNS. CO2 Pilot well with PRD ontrack Well done those who bought fridays dip