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Thank you, Faz. I appreciate the LTH comment.
10 years here and still going strong.
Those tricked into selling yesterday were robbed, nice recovery today
TT12.. fantastic having you back on the BB..I’m glad I’ve found like minded individuals here now.. 5 years of this bb tested my sanity but I’m still here holding hard and trying to bring my average down whenever I can.. thanks a million all LTHs.. you know who you are.
Faz
Hi Emily,great to see your still here and yeah I’m good,thank you and likewise. Hey I nearly dropped in the “dragon oil” spiel lol. GL TT12
My recollection when I spoke to LK at 2018 AGM was he said that MCAP would be if one of the target wells hit oil. When I asked dollars or pounds, he think said “does it matter?” My interpretation was 1 successful well in 20-400m targets would be 500m and more than one, more. That was my interpretation back then DYOR
Ramptastic Twinkle...good to have you back. Hope your keeping well.
Hey faz I’ve been here long enough to know your a good guy. What I will say in response to your question is to just keep on asking yourself why are LK and team here? These men could have stepped into almost any position anywhere in the world with the background qualities and expertise they hold in the oil industry. LK is a very well connected man in UAE with some extremely wealthy like mined friends who may want a piece of the pie at some point. LK and the team have a reputation to uphold in success not failures and will have looked at this in fine detail before taking the task on,if at any point they thought this was never achievable then tbh they would have walked away,very simple. I work in the northern sector where LK made his mark,he’s a very well known guy who holds a lot of respect. If LK states that this has a potential of £500m Mcap then I’m telling you it’s more a matter of when not if. I would just like to add that this is my belief and as always DYOR. Oh and just to let you know faz I’m not an oilman but rather the guy who fixes/repairs/maintains the oil rig lol. Keep the faith faz your in great hands here matey,possible the best you could of ever wished for GL TT12
Excellent post TT12.. since you’re an oil man..can you substantiate the size CERP will be after these huge discoveries? I’d like to know your honest OPINION.. greater than £500m Mcap??
imho lol
MrM..agreed 10m would be good. But I’m 100% whatever black gold is there it will be coming to the surface and the team will leave no stone unturned in doing so. Like I’ve stated this is a lifetime apart from a stuck drill and it’s game over from a geologist who thought he was an oil guru. This first drill will have been risk assessed beyond belief and only through working on a oil rig myself (which is where I’m sat now) they will have back up plans after backup plans in place. These are very intelligent oil men who will have spent hours and even months round a table looking at every scenario possible and will not compromise safety. The most interesting point which a few forget is LK and the team are very well respected and connected men especially in the Middle East and for them to look and take on this company can only mean one thing in my eyes. They certainly not here for jolly or to fail at the first hurdle. This is huge and I’ll have to put IMHO before I get wrong by the bb police but hey..we’ll see who was correct soon enough. GL TT12
From the company website:
Note: "... late September"
"The Company still expects to spud the well in late September 2019. In July, the Company submitted the necessary requests (known as DRL2 applications) to the Ministry of Energy and Energy Industries to drill both the Saffron and Clove prospects. This gives the Company the flexibility to choose to drill either (or both) wells. The next steps prior to drilling are the completion of the civil works necessary to prepare the drill sites (road access and drill pad) and completion of the contracts for the Rig hire and supply of associated drilling services. Long lead delivery items such as casing, wellheads and drill bits are available from our existing Company inventory. Each of the preparation steps is progressing and the Company will update the market when they are complete. "
Waiting approval from the ministry I believe.
Drilling timetable: to commence by end of September.
This was 12 days ago - how long does this normally take?
Preparation for the first #CERP Southwest Peninsula well is in full flow. Our civil works team have full access to prepare the #SaffronWell drilling location