Member Info for Bamps21

Hi Penguins
I think you will find that is a normal reservoir oil/gas mixtures that is not a virgin pressure pool.
I haven't read that report yet but I will.
I haven't kept up with this Board for a few years so I am picking up on things.
There is an American book on Google called Federal Conservation Board which describes virgin oil pressures page 70 I believe.

This phrase didn't strike me at the time but now am more interested:-
'HH-2z horizontal drilled through a near virgin pressure section in the Portland Pool'
This term is generally used for gas saturation of oil. It makes the oil far more fluid and studies have shown upto 96% of the oil pool can be retrieved-Wow!
The pressures at 2,000' depth 1 cu ft of oil would be the equivalent of 27 cu ft at normal atmospheric pressures.

This is stunning news that I missed, loads of gas and far more recoverable oil than the % quoted :))

This increase in shares has effected my NAV figures a little, it's gone from 0.482p per share to 0.476p per share.
Still about 20% undervalued in my view and that's without Loxley or IOW

Trying to work out my own NAV value for UKOG from last years accounts:-
£26.3m in assets x a conservative £2.50 in the ground figure - £13.49m total liabilities divided by today's 10,839,000,000 shares in issue
Equals 0.48p per share NAV

This does not include any gas at Loxley or any reserves at Arreton.
Also does not take into account SS remarks about oil in the ground value of £18 or that their are 30m reserves in both the Kimmeridge and Portland.

£18 would give around 12p NAV
Plus an estimated 126m barrels on the IOW.
I shall have to get a bigger calculator:))

This new pump system looks very good especially if they link it up to the Unico Global Monitoring Service which gives instant data analysis and automatic controls of the pump so much more efficient than normal jack pumps.
The pump can be slowed to a minimum of 1 suck per minute instead of 4-5 spm with a normal jack pump giving the well more time to fill if required.
Delivered on a light duty truck, installation only needs 2 operaratives, no concrete pads required, silent, can be moved easily.
Costs are much lower

They will need more pumps too with up to 6 more pads planned, 2 more horizontal drills in the Portland and 6 horizontal in the Kimmeridge.
The Portland set to become the No 2 oil field onshore UK after Wytch Farm :))))

It's good to see that the costs per barrel are reducing and are now standing at $13, this now includes lifting costs and also all marketing, transport and sales.
How does this effect revenues now oil is down to $42.50 this morning :-
SS said in November that the combined flows of the Portland and Kimmeridge would need 5-10 tankers a day for 5 days a week.
5 tankers per week $42.50 - $13 costs =$29.50 over 50 weeks that's about $8.2m less Alba 15% reduces down to about $7.2m
10 tankers =$14.5m

The Portland at Horse Hill on today's oil price would have a Net Present Value of around $100-$150m. 3 wells will be needed each retrieving about 10-12m barrels over their life.
The NPV of the Kimmeridge will be around the same figure but 6 wells will be needed probably all horizontal as the best optimum production.
Horse Hill could have a combined NPV $250-$300m
SS stated there are 6 pads planned I couldn't make out whether that was at Horse Hill or in general across the licences but that's 6x $250-300m NPV.
:))))

hi ilikehb
most high income stocks are at the moment high sp but long term Rio and Croda are a good bet.
Short term take a look at Segro or Londonmetric still paying quarterly divis strong sector at moment.
With no divis house builders are just growth stocks I'm afraid at moment
Good luck

On the question of leases/rent holidays does anyone know when Mars will start charging tenants again.
Some tenants maybe unable or unwilling to reopen when given the ok but the breweries need them open.

Hi Wb
I had looked at Renx and they certainly have had a good rise. I think most of the growth in the test/vacine era has passed although still strong. The only medical one i've still got is physiomics which produce 3d images of personal cancers especially oesophagenous which my mum had so it's personal to me.
Regarding Ggp I bought 40k at 12.4p today with target of 25p. The jorc report due in next 6 months will confirm what they have but there are 6 or 7 similar targets to go at and Kraken looks good.
It's certainly increased my portfolio this recession , I'm still confident of a continuing rise but maybe with a few dips.

Tw are a lot stronger company than they were in 2008 they will ride this out

Well he didn't give much away on the geology front, he only hinted that the crescent was formed by a saddle reef.
Even for an angry geologist the content was lacking somewhat
I have to agree on the Kraken though that looks a good anomaly.

Hi Cdl1
I wouldn't have sold thought the assets were great but a risky merger was too much for me. Glad you got out with a profit.
I've bought a few more not many in Tw also topped up Phe and Ggp
Good luck

Hi Nige, Sean
I can't see divis this year, didn't they say they were looking for land investment opportunities .
A quarterly divi would be great though would keep the sp on a steady path.
I've decided to sell my major Cerp holding they've gone into a risky merger so going to put some back in here
ATB:))

Hi Johnson
I bet the Directors will restore their salaries first before a divi.
Just being sceptical:))

So if they don't get the number of votes required, BPC can elect to implement the merger by way of a takeover with % set by the company at 90% or a minimum of 50% or as agreed with the takeover Panel .

Merger you must be joking

Hi Obadhia
That document looks like a get out clause if Cerp shareholders vote NO

Hi LGO
If your holdings are with a Nominee company if you don't indicate to them which way to vote they will vote with the chairman.
You should be able to do it on line

You can hire a tanker for $5m

Hi Spiritefan
How can you compare like for like, BPC have been progressing this well for 10 years and it's still not drilled and will be expensive to get to market.

Saffron has been drilled and S2 to follow on for $2m and easy to get to market

I can't see where there is a like to like

Saffron 1 $2-3m to drill plus consultant fees plus $1m FTG survey approx $4m
S2 = $2m

Perseverance 1 well $100m and not paid for drilling yet plus $17-26m on top then infrastructure costs