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Be a good chap and jog on. Good boy.....
Bless
What a Prat!
I'm not a snowflake. Just don't see why that video has any relevance. Going to report and block
Have a great day!
Snowflakes falling early. Now back to CERP. Not long to wait.
Hedgecutter - That video you put up of Fish getting shot in a barrel is just senseless animal cruelty. It has zero relevance.
Just filter him faz it also helps to keep his water clean haha
Now you know the nastiness of the derampers. They show no pity to anyone. Go away fish
Just to add that LK will not be using Cambodian munitions, just a Rolls Royce rig.
Fish you appear to be struggling just like ross, better to quit now and find a more rewarding source of income. You appear to be getting mauled. check this link it could help your current plight. https://www.youtube.com/watch?v=_O5AF_rnHpo
Agreed...tut tut fish, just no need!!
21.6p?
I'll definitely take that.
Kind regards.
GRQ.. Hope all us LTHs lift off into the stratosphere..I want 21.6p ASAP..
been a long hard graft .. think we might see the Major SP Rise after Xmas now..
hope LK can prove me wrong..
take care
Faz
I enjoyed reading the news from Ukog yesterday explaining the process of drilling their well. A 12" dia hole to about 2000' has been cased and have taken a 60' long core of 8" dia for analysis, the first of a planned 3. Their independent advisors have informed them that the OWC ( oil water contact) is another 60' lower, so a fourth core will be taken. The excitement there is about more oil reserves.
The cores have been taken to finalise the position of the horizontal side track entry which will extend a further 3000'.
The share price has hardly moved with all this news, they have a dreaded YA loan fascility and every chance they've got their selling shares keeping a lid on the price.
Their recoverable reserves on that well are about 14m and with the horizontal well hoping for 3000 bopd
Saffron recoverable reserves are about 11m but the strata is sand/sandstone I'm not sure if a horizontal well can be achieved
Working with the finances Cerp have a vertical well is the cheapest, quickest option.
Clove is only a shallow vertical well so will be cheaper but the P50 reserves are only 170,000 barrels so the production will be small. A quick easy drill in known production sands.
In my opinion this is going to be a slow process of building up assets and production using our own cash, so some borrowings are probably the way forward but not YA
A YA loan is a death spiral for the sp and I am sure that won't happen with Cerp. We all know what happened when NR used it.
Neon,
Kind regards.
Hi Bamps LK s figures for Goudron with the ipsc with oil at $53 PB were $ 25 lifting costs & $ 33 netbacks that was about 2 years ago now the SWP has much better terms without the ipsc tax at 18% so you are probably not to far out with your guestimate.
Hi grq
You're quite right confirming the reserve asset will take time and a CPR report isn't cheap and I wouldn't expect one on the basis of one drill, but confirmation of the reserves from an independent analyst like EPI will trigger easier borrowing fascilities. The more we find the more people will want to lend to us if we need it.
Irene - where’s your detailed figures then - as usual no detailed research - typical lazy Krapper!
GRQ
have u forgotten about UKOG? at one point the mcap went to 300mn with a share price of 11p without producing any commercial barrels. ANGS went to 37p on the back of Lindsey and Brockham drilling news!
CERP is nothing like them lot, infact it’s way better than them. It has existing production and have a cash generative business and now might be able to increase its production via saffron as the oil transport infrastructure is already there!
Choice is urs mate! Most of the investors are were waiting for this SWP for years and now we are literally weeks away from getting it’s first well result.
Just think about it, go through all the company RNS, videos and then decide
I wish u all the best
GL
Neon
Ooooooooooh Dross don't be such a doomster - no one is expecting this one drill to suddenly put the company into profit and paying dividends to shareholders but I'm expecting a positive result which generates some cash but, more importantly, proves up the concept so that people are happy to support the company with up scaling .
Your mate on TRIN sounds a bit depressed and clearly that doesn't help someone like you - but let's not throw the baby out with the bath water after you've thrown your toys out of the pram - there's still plenty of opportunity to make good profits in Trindad even after taxation. Would I change tax policy - clearly yes - let's encourage a bigger cake so the State slice is worth more - will it influence LK to bias investment in Suriname - possibly - I haven't done a full tax comparison of the 2 jurisdictions yet but not relevant yet as I need to absorb the Saffron result first !
BTW this deflection about tax still doesn't amount to an apology for that Shyte you've been posting for close to a year about the Placing !
Bamps,
I kinda agree with you but the confirmed asset revenue will take almost a year to see the impact that overall revenue has on the accounts.
Smaller monthly revenue will take much longer to have a material impact on the Sp.
The market won't immediately or fairly quickly reward the Sp until that balance sheet is proven.
AIM used to read small cap companies very quickly (pre 2008 crash) since then, Sp's are regarded very differently.
MXP/BPC/RRL were falsely given high Sp on their asset (billions of barrels oil) even when they were only churning 1k boped.
Those days are gone now. In my lowly opinion.
Bamps21
“$50 per barrel of revenue on an oil price of $60”
What is left of that $50 when you reach the bottom line?
Hi lancygeo
The capex chart is showing $50 per barrel of revenue on an oil price of $60, was the figures for lifting costs about $10 from memory
Hi grq
Don't forget it's not necessarily the production that will raise the share price it's the confirmed asset reserves that will have an effect
And then minus all the costs - I don't believe it will be that high.
Again - more than happy to be told otherwise.
A modest 200 bopd from Saffron @ $45 per barrel, .... netbacks are $9,000 per day / $270,000 per month :)