Member Info for Bamps21

Hi Joatmon
I thought you were a Geordie :))

Hi Lgo
You could be right about that.
From the 28 May RNS it says the key objectives is to keep producing from the MC from S1 and an S2 extended production test before conversion to a full production well.
I'm presuming they will be changing the choke sizes to get the optimum flow and pressure shut ins for pressure build up tests.
ATB:))

Hi Joatmon
Cerp have 2 workover rigs although on the Prd board they believe one will be in with the buying of Innis ( that won't happen).
I follow your logic but I don't believe S2 will start till September and I should have said Q4.
My thinking is extended well tests on 3&4 plus works to sort out the water cut and also procurement of more tanks for MC water separation and LC production .
Another well can't be drilled from the same pad until work on MC complete.
ATB:))

Hi Nige
A strong update considering the crisis but nothing about any divis was disappointing for me, I will keep holding.
been in and of Nano but keep watching.
ITM have been outstanding for me , my lad is an accountant and he's got them.
With the new factory opening soon , more sales are inevitable. Massachusetts is in discussions to phase out natural big market there looming. If ITM don't get taken out I'm hoping this will be my next Croda :))

Been reading a couple of articles on onshore Suriname
1 Geoexpro
2 Off-shore mag
If you Google Tambaredjo oil field they both come up. Tambaredjo is the nearest comparison of WNZ but any oil finds at WNZ may not reflect what is found at Tambaredjo.
However it is very possible to match what was initially at Tambaredjo 900mm barrels stoiip and 167m barrels of reserves. One of the slides on Offshore mag shows the migration of oil from the source rocks of the Turonian period upto the Palaeocene era maybe 200km.
Most of the 300 wells at Tambaredjo are targeting the Palaeocene era at about 300m depth a layer of 5m thick.
In 2002 it was producing about 14,000 bopd. There are in addition other deeper targets down to the Jurassic of canyons 200 m deep x 5km wide with oil targets but only 4 wells have been targeted. Tambaredjo has a major fault east to West whereas WNZ has a major fault NE to SW (or maybe the other way can't remember). WNZ is only 505km2 one of the smallest fields. I will be very surprised if this gets to 5,000 bopd it will be a real bonus but it's very possible. However the seismics survey data on WNZ is very small and an aerial FTG survey will be needed and not cheap to find all the numerous traps / reserves that maybe there

Hi Joatmon
I'm not sure what log results you are expecting by July 12th.
We have the Middle Cruse logs just waiting for the test results from 3&4
S2 not expected log results till end Q3.
The big excitement at the moment should be the Stoiip update on Suriname due end of June. 24m at the moment seems very very low to me, being the opposite of Tambaredjo field which had an original Stoiip of 900m and 167m barrels of recoverable reserves from c300m depth of 5m thick strata. WNZ is a much smaller field so in pro rata about 500m maybe possible in small traps.
EWT production should help to fund additional seismics and aerial FTG but that is expensive but will open up the secrets of this license
ATB:))

Google Tambaredjo oil field and look at Geoexpress.
Great explanation of onshore geology.
3 fields to the left of the Calcutta uplift were producing 17,000 bopd.
west to east section shows what's happening to the west not the east where WNZ is but it is vice versa.
The fields are bigger to the west so even getting to 5,000 would be a big achievement.
I have a wager with Egg on the other board which will be bigger WNZ or SWP can't say what the wager is don't bear thinking about :))))

Perhaps my attempt at ramping the other day worked :)))

Hi Tiburn
In geological terms there's no connection between West Africa, offshore Suriname and Onshore Suriname.
The first 2 are 50 million years younger oil fields.
The oil is found in strata which has been split in 2 by tectonic movement.
WNZ is on the side of an uplift which has formed many traps for oil probably fed from Jurassic layers way down.
On the other side of the uplift is Tambaredjo field and that is where the comparison should be.
A section through Suriname North to South shows the oil strata out to sea gently rising to the coast and petering out.
The mountains to the south are of Andean Eon way before oil was formed.

The oil at WNZ is sporadic and lots more seismics need to be done to find these pockets, i'm expecting a lot of them.
The drilling at Saffron will have given Cerp a greater knowledge of drilling at WNZ, expecting a lot more than the 24m barrels at present
ATB:))

Hi Cdl
Yes I'm still holding ITM bought in around 20p and then 40p rights issue, very happy and now my other ones going PHE waste plastic to Hydrogen.
Did you buy Cerp?my last oil play, there's a buzz there today due to Prd raising funds hopefully to buy one of Cerp license or it could have been my big ramp yesterday:)))
ATB:))

hi Joatmon
That's the method I had in mind but the heavier mud was the reason the logging was unsuccessful

Hi Cerp 84
They seem confident of success for S2 from the same pad. I'm presuming it will be at 30 * to the vertical so as not to compromise S1. How they intend to get through the fault and cement the liner is another matter which would need elaboration
ATB:))

Mud Diapirism

This phrase is the main cause of the issues at S1.
in your right hand imagine a lump of wet clay and clench your fist it will ooze out through weak points.
Now put your fist on a hard surface and Squeeze the mud will dome out through the thumb and forefinger, if your left hand is put over the top the mud will push your hand upwards and then go sideways.
Applying pressure on the left hand will over pressure the mud and it will ooze out through other weak points.
At Saffron deep down ancient marine deposits/ clays have been overlain with more deposits and causing pressure build ups. From below magma heating the salty clays make it fluid and the pressures squeeze it into faults and porous rocks gradually forming a dome or uplift forcing higher layers upwards and squeezing through faults.
Drilling through this fault meant the mud had a means of escape and a heavier drilling mud was needed to keep this mud back out of the bore.

If the mud gets to the surface it can form a mud volcano like at Galfa or the La Brea pitch lake where the mud mixes with heavy oil to form asphalt.
I hope that makes sense of the issues at S1

Hi Razorman
I posted sometime back one way of buying out Schroders would be to offer the same amount of shares to private Investors then with the money buy out Schroders and put the shares in treasury for directors salaries/ contractors.
After this situation i'm wary of another Institution
ATB:))

Hi Ben
I'm not in Gfrd at mo but hope to soon.
They should have that £300m from Bovis unless it's gone already:))
The upfront bond put with a third party I believe is 1% of the contract sum hopefully returned on completion.
That was the benefit of having a Homes division which would normally of funded that and then the monthly revenues used by the Homes division. Cleverer men out there than me or are they time will tell.
I've not bought or sold anything for a week, can't get over most of my little shares are racing away can't keep up. Getting into hydrogen shares best thing I ever did apart from ggp and now Prim are in profit after 10 years :))
Waiting for Cerp to rise now can't be long, ready to put more in so watching it like a hawk.
Got the yacht brochures out again but nowhere to go :((

Hi Ben, Tom
I've never come across upfront payments of Government contracts, it's normally the other way round with construction companies having to put monies into a bond.
Any work on site and materials would go into the first monthly valuation for payment so may take upto 8 weeks from the start to get the first payment.
Can I ask why you are asking?

Hi Nige
Question with the builders at the moment is 'Will they, won't they pay a divi'
In my view they won't announce one yet with the furlough and uncertainty over the market but later in the year is a possibility, the price could jump.
Tw sp seems to be doing better without the divi, that Special always caused uncertainty. My hope now they introduce quarterly divis.
Londonmetric pay quarterly divis their price has recovered quickly.
Institutional buying in Ggp bigger gains to come but expecting big swings
ATB:))

Hi Bully
I never Ramp just Bamp :))
One sniff of that 400m target what do you think will happen to the share price?
At some point we will be told where it is, my guess it's to the south of the Las Bejos fault near Granville and Port Fortin

hi Willec
The NAV is only a guide for the future but the assets of confirmed will talk for themselves. Cerp will get taken out with those assets.
A comparison at the moment of a company that with a few drills with exceptional results but not confirmed yet entered into a joint venture with a major is set to earn 70% of that license. Their asset of 30% in Feb put their MC at £387m but the figures are increasing monthly and estimated to be 3 times bigger. I bought there at 0.6p 2 years ago today reached 11p which coincidentally is the original price I paid here.
That share is a gold miner but geological and size of asset not much difference.
The price reiteration today is a target not what it is worth, we need our biggest asset proven from an estimated 77m reserve P50 to a proven P3 then that target is more valid
Hope that helps:))

Well I've been accused of being a Ramper and I don't believe I am but very positive on the long term prospects, so here's my attempt at ramping:-
Cerp have identified 12 targets on the SWP between 20m and 400m barrels, so how would that affect the NAV
A 400m reserve with say a low in the ground figure of $3 and liabilities of a high $50m with 1bn shares would give a NAV of around £1 per share

Now there are 12 targets so taking a rough average of 100m x 12 = 1.2bn x $3 =$3.6bn deduct a high $200m liabilities divided by 1bn shares would give a NAV of around £3

Leo hurry up!

If anybody doesn't like my figures tough I've done them :)))

What a disgraceful post