Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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rossannan have you seen the program for H2 2021 and 2022 (next 18 months)
Saffron 2 is massive with upto 30 wells, ok maybe no all producing, but could be and imemdiate production as well with the price of WTI $62pb expecting to hit $100pb by the end of the year
deltalo
My point, of course, was really aimed at the “new onlookers” - BB posters do not offer refunds so they should be taken with a large pinch of salt.
Seriously though, on what basis can you talk about “almost guaranteed high revenue returns” and this being a “massive winner”?
rossannan - you ran a relentless saturation campaign to warn investors about a Placing before the drilling of Saffron 1 ( despite Koot assuring otherwise ) - as that didn’t happen would YOU have compensated any shareholders that sold at a loss because they were influenced by your posts?
In a few months deltalo after 10:1 as the price atm is 3.3p (mid) we should be looking at 25p + so by then when the trolls have moved on to troll else where at least we will have made money unlike the trolls who don't even invest.
Instead of bashing stocks to they hearts content why don't they actual invest money into stock and shares? Shows me threy have no clue what they are doing.
Ros, only if you agree to compensate any investors who lose out on a sell of 0.30 in the coming months. Agreed.
Another new beginning!!! Ya fantastic just what we need, price will still be 90% down forever, but at least we get a new name.
deltalo
“I really think that new onlookers don't realise the oil has already been discovered and almost guaranteed high revenue returns.
We're on to a massive winner here...”
In the event that your above confidence is misplaced, will you be covering the losses of any “new onlookers” who buy in on the back of it?
We're using the same well pad as Columbus did on their discovery over a year ago, this time we're drilling slightly down dipped to tap into a larger more richer reservoir that'll bring in higher volume and pressures.
I really think that new onlookers don't realise the oil gas already been discovered and almost guaranteed high revenue returns.
We're on to a massive winner here I must say and I feel sorry for the 0.31 seller's as they've been robbed by the MMs and the deramper's.
Hope they take note.
Sunday start's the new beginning. Don't miss it.
Lots of talk & predictions about the success/failure of/on S2 based on S1 results.
Rather than rehashing S1 data, I am just going to wait for the actual well results to determine how successful the well is & base an outlook on that.
S1 was the exploration well.
Yeah a
Hopefully now the Placing is out of the way and with consolidation of the shares next week and Saffron 2 beginning the drill with results in the next 30-40 days, the emotion we have seen from a lot of posters will end and we can get on with proving up the 2P reserves and building production towards the targeted 2500bopd by year end. A number of drills can be drilled from the same pad at Saffron 2, so the wells can be in quick succession, allowing immediate production and cash generation.
I thought I read it somewhere it was 90% water 10% oil.
Starchild: you write very well and are clearly well-educated, however, I have come to the conclusion that YOU are either Simon or his prodigy, Etihad. Therefore, you are really not trustworthy pretending to be a star child and god forbid, anyone having the temerity to misname you, a Star fish. Enjoy your Directors salary but stop playing charades on here and trying to suck in more baby mugs like me. In which, by the way, you have succeeded because I have bought 410,000 of these Golden Tickets at 1.59p. Filtered. Good Riddance.
Don't know how much was oil. 40 degree API oil flowed to surface. There's videos of it. The rest was water and drill fluids. It was 500bfd. The formation was damaged due to the heavy mud needed due to extremely high pressure. Whether the pressure is from a larger reservoir or gas cap, I don't know. I guess Saffron 2 will give answers.
PageofCups
How much of that was “fluid” and much of that was oil?
Saffron 1well was perforated at the top of the Lower Cruz formation. The reservoir was damaged due to the use of heavy mud. 500 barrels of fluid and oil flowed 7-8ft of perforation at the top of the Lower Cruz formation.. The Lower Cruz is a 300ft thick high quality reservoir sands which has yet to be fully tested and perforated. The 200-300 bopd flow rates are estimates and can be higher or lower depending on well bore integrity and reservoir condition and pressure.
But where is the money coming from to develop the field if and only if Saffron 2 is a positive result. Yet more dilution. This is just a leisure and entertainment company for the management and their wages! Just wait for the options package to come out! Show me shareholder value anywhere please, give a reason to invest, not pathetic ramping
Still waiting for the dust to settle here - which means consolidation and all new shares admitted to trading.
It is hard to get that excited about S2 though. What is the S2 CoS? Is it as high as some on here seem to think? We have been told that
“Design of the Saffron-2 well includes a production completion, allowing for immediate oil production and sales on a successful well, with anticipated rates of 200 - 300 bopd, which it is estimated would provide more than US$1.8 million per annum of cashflow to the Company. Based on these pre-drill estimates, Saffron-2 would have a payback of 12-18 months and an ROI of in in excess of 200 per cent.”
Where do these anticipated rates of 200 - 300 bopd come from? Further data from Saffron-1 was certainly promised but it never materialised. Is there good news that they have held back or are they again going all the way back to the 207bopd that UBOT-1 flowed? For how long did that 207bopd flow? 12-18 months? Research this if you dare. Some on here will remember what Goudron’s high initial flow rates translated into over the longer term.
Anyway, to all new holders and potential new holders looking in and wondering whether S2 offers an investment, or at least trading, opportunity. You will see posts on here by Starchild. He routinely offers up his posting profile (https://www.lse.co.uk/profiles/starchild/). Take him up on the offer, take the time to get the gist of his 15 months of BPC posts and compare what he posted against the outcomes that were subsequently RNSed. Then decide whether you want to be guided by his wishful thinking.
@Deltalo
"Copy this, Saffron2 appraisal well will be a game changer for the company without doubt."
Not getting at you , but anyone could write that and if the SP raises or drops significantly, it's a correct statement in either case.
Last minute chance for shorters or potless nobodies to deramp and slander the company before the Saffron 2 appraisal well begin's on Sunday, many were saying it wouldn't happen, now they're on about the funding, I new it'll all go ahead as planned and the rig and equipment is on site and ready to spud. I'll be copying your post today as in a month's time I want to see you all here.
Copy this, Saffron2 appraisal well will be a game changer for the company without doubt.
And even with all there constant ramping getting the truths deleted what going on 50 posts been removed today and even gang ramping and even they can’t even stop this boat from going under and they work harder than the company at trying to sell this to new investors lol very sad hiding the truths to con people out there hard earned money and sometimes life savings for there retirement it’s actually quite sickening I can take the losses I have here I’m 30 lesson learnt and plenty of time to re coop but some can’t
The next time this share bounces upwards will be if S2 proves successful but by that time the SP will have dropped such that the bounce will reach the OO price so back to status quo. This will continue until the oil sold is more than enough to pay the BOD wages then it may climb some. It is difficult to see where the money will come from to develop the field. The consolidation and the name change will make a good smoke screen.
I am proud to be deleted in the good fight against the Gang Ramp!
Protect the weak!
Look at the history, LGO, CERP, BPC.
Remember RRL.
Statistically, technically in my view, S2 will do for Challenger, what S1 did for Columbus.
We cannot hold back the Ramping tide, they have too many years of experience and too many keyboards active, but we can attempt to provide balance.
Must be in background
I know ZagEgypt looking forward to a nice rally in the next 6 - 18 months