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Double figures, I like the sound of that, willec.
BW
ptrotter - I wish 'I keeping hoping'
If only!
Sounds like a sleeping monster about to tranform the company to me
“Whilst drilling, the Company encountered expectedly high formation pressures and undertook careful measures to ensure the wellbore remained stable. This involved increasing the weight of the drilling fluids within the Upper and Middle Cruse sections as well as spending extended periods of time maintaining the wellbore“
We encountered oil at all three targets, combined with high formation pressures feels like a good combination to me. Just maybe they found the gorilla and kept him in his cage with careful engineering. ??
hy else is it appearing at every auction? MMs are cleaning up below for the next push forward and then up towards double figures very soon.
Agreed Dean.............!
the race is on mind............ :)
CO2, Saffron, or faz's funds........... :()
All the best (there'll be more, but I is tired :)
You been seeing that 4p DMA for small teaser popping up on the auctions willec.........?
All the best (on the other side 30K shares for 2.80p, and with competition for Cantors on the Ask :)
4p end of week come on !!!!!!
It's time consuming getting it right, they may leave some net oil pay for a later date and concentrate on the best target. They will let it flow on it's own initially and maybe shut it down to see how long the pressure build up takes to get back to its original level.
This may take time to get it right don't expect a short time frame.
On a big pay well I've known 1 billion cu ft of gas burnt off on test and 9 months to get the pressure back.
I'm not suggesting that will happen here but the original plans were to get Saffron on stream mid year
ATB:))
Sounds complicated, Least the SP is looking upwards today with it been oversold
There not samples like in mining where they go to a lab
The data they have is being examined and the relevant information will determine where the tests will be carried out down hole. A blast string will be inserted and holes made in the casings. Then the testing can start.
The experts will be looking for hydrocarbon concentrations and the porosity amongst other things
It's a complicated science.
In my understanding, Q1 is up to March. So we should here news by then.
How long before we get the results from these samples, I would have thought that labs would have been testing during the drill.
Leo Koot, Executive Chairman of Columbus, commented:
"The Company is very pleased to have successfully completed the drilling of the Saffron well. Our drilling team has done a fantastic job in reaching target depth in a very complex geological area. I am excited that we have encountered multiple sand packages and multiple oil shows to TD, as we had hoped, including in the Lower Cruse which was our primary target. I believe this confirms the potential of the South West Peninsula. The Company has gained an enormous amount of knowledge about how to successfully drill wells in the South West Peninsula and we look forward to seeing the interpreted logging data and completing and testing the Saffron well in Q1 2020. In our view, the economics for the South West Peninsula are very robust and depending on the test results from Saffron, we look forward to further appraisal drilling as is appropriate."
March should be the month we start to see results.
I'll take any earlier news though.
I hope this super rise can wait another two weeks.. don’t want it to rise just yet.. got some substantial amount of money coming in end of the month. Would like it to hold at 2.8p for a bit lol
Yea, still took another tranche though, faz7475 (straight into ISA a/c).
BW
Killer spread on the SP. guess they don’t want you to buy at the moment lol
Your welcome Bamps21,.....well, that update, was good enough, to have me increasing my exposure, to CERP, at this stage of the drill,...as I said to Chesh, "may increase further, here at CERP" (before next update).
BW
Hi Peter, whoever sent the email though was working late for a Friday, so fair play to them for putting in the effort.
Hi Peter, I would not recommend you post a regular email address on here.
Hi mossma
That is now totally clear to me - thank you
I wouldn't post my email address on here because it could be used by others to my detriment
Hi Peter, I sent Columbus an email on Wednesday the 8th of January, if you like Peter send me an email address and I will forward them both to you. Regards Steve
Hi mossma
You said you sent the email before the RNS
Did you send it before the 9th and did they take 8 days plus to answer?