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so this has now got simular mcap 25 mill to advance energy who are drilling in a few months for 40 000 barrels a day hmmmmmm
is that £1 (post Consolidation)?
I expect 10p+ on Saffron 2 appraisal well drill, if good results then rocket launch.
This could easily be 1p by the end of the month with all the positive news to come 10p (post consolidation)
Lol Druid are you ok???????
My response was to the message you posted regarding S1 results, although I think you have now realised that lol.
I am not referencing that reply on behalf of CERP or L.K, just thought that was information you were seeking.
I am not sure as to what engineering data you require nor am I offering to address any questions you have regarding that data, if S1 was a success or it S2 will be.
I have seen that Svs, and thanks.
Trouble is , no real engineering data as stated below, and the geological schpeel is all internally generated by the Purple Pariah and the Parish.
In the old days we would call slavish belief in one's own prognoses, 'smoking your own dope'.
BPC are appraising the Lower Cruz with a thicker reservoir +300 feet of high quality sands down dip of approximately 11MMb of 2p oil recoverable with a NPV of circa $90m and a further 7 development wells with a target of 2p reserves at the end of 2021 of +10MMb net. This would unlock a further 9 other identified leads of equivalent size amounting to 200MMb prospective resource, with 2 prospects being drilled in 2021 and longer-term 2p reserve of 50MMb net, end of 2025.
SvS....or perhaps my question about whether it was technically reasonable to compare Weg Na Zee on the narrow swampy scree, to the passive margin and the offshore discoveries?
Svs....or was it this question:
Leo Koot (All Hail the Purple Prince) claimed loudly and confidently that in Saffron 1 , CERP had found exectly what they were looking for. It was hailed an exploration success that would be material for the company.
This appears to be one of those rare cases where an exploration success results in failure?
My money, to bring some balance and to be honest, is that Saffron 2 eill do exaclty for BPC , what Saffron 1 did fir CERP. (a statistical deduction in the complete absence of any real engineering data (flow rates, pressures, well test analysis, reserves estimations from 3rd pty...nothing!)
SvS...or did you mean my question about how on earth CERP generated an 85MMUSD tax credit in Trinidad?
SvS.....You mean the interview with the lightweight chap on valium? Nope, no real info. Apologies for repetition below..
However, I bet the Trinidadians are pleased to give this young Aussie tax-free life-raft coin from Goudron in perpetuity, after all, he gave Kootsie BPC's cash as a golden parachute(v1)........so you scratch my back I'll scratch yours...BUT... precious few backs got scratched in this melee.
For this share, there so much riding on S2 for BPC, like S1 for CERP.
Chaps, seriously, if S2 is indeed an appraisal well of S1, please give us an indication of what exactly we are appraising? (even if only current production, and a 3rd pty reserve calc? )
Is this really asking too much that this simple request will attract nothing but sycophantic musing?
..nice poster in the background.....Rolling the dice, a broken mustang, a squirrel in the headlights, splat went the squirrel, and a scavenging seagull....we're the squirrel, he's the seagull..
Druid wasn't this the information you were requesting recently?
Saffron 1 was never planned as a production well always an exploration well until they found oil at only 450'.
3 zones in the Middle Cruse with one having a gross pay of 1,000' interval 4 with minor sand migration ( a big plus) and 60 wells planned.
The MC is over pressured at 0.6psi and at those depths is very high.
Pressures increase the deeper the layers at about 1lb per foot in rock and less with water e.g. undersea.
The Lower Cruse had the issues with moving shales only 2 x 8' zones perforated but had an API of 40, that's fantastic, over 300' still to perforate of "open" flowing sands.
The 2 zones 5&6 had pressures of 0.7 & 0.9 psi. As i understand it a pressure at that depth is very high and should flow unaided for a long time.
This well has given Cerp so much potential for future growth and the economics make it potentially far better than sub sea plays.