Member Info for Bamps21

Hi Ltid
Saffron 1 is going to be a Middle Cruse production well it can't produce from the LC because the grouting of the casing was unsuccessful and the heavy mud used blocked the pores.
i'm presuming those issues will be allowed for with drilling S2.
S2 will be the LC producer
ATB:))

Morning All
Not posted much here lately just watching and waiting, think news about divis or bonus shares may land at anytime.
I see Tom and Nige are busy with Ggp, i've stopped posting there and Ncyt boards are too busy. Been buying and selling Ncyt, my best share at mo is ITM jumped this morning
ATB:))

Hi Ltid
a CPR maybe carried out after the tests for both the MC and LC but the CPR has to take in the infrastructure and ability to sell the product. it will define the assets.

Hi Qnard
Most drills are computer guided , I can't see that the sounds are for directions more likely to check for obstructions, not something I've come across
ATB:))

Hi Ltid
it's all to do with reserve management, getting the oil out in the most economical manner.
Firstly I believe the bore hole diameter was increased because they encountered oil at such shallow depths and the pressures were significantly high to allow for future various designs of well management.
With a wider bore, sidetracks can be undertaken and larger downhole pumps can be installed . Also for future extraction methods.
With an oil of API 40 you wouldn't want to mix it for economical reasons.
If the Lower Cruse tests had been successful they probably would not have tested the Middle Cruse
They could decide to produce from all 3 Middle Cruse intervals from S1 but prudent management of the reservoirs will probably mean they produce at different time intervals.
The Middle Cruse field design of clusters has been planned and each well will probably target separate intervals.
For the Lower Cruse if S2 produces 3150 bopd then it shouldn't need another well to target 11.5m barrels over a 10 year life but that figure seems unlikely and more wells will be required.
Hope that helps:))

I've been reading about the Galfa mud volcano just down the road from Saffron to the South west.
The article is in the Trinidad Guardian from March 2019
"Golden treasures - at Galfa volcano "
Contains an article from Trinity exploration expert on the fault zone and Trinity drilling through it and the difficulties they encountered and the geology of the area.
Sounds like the area needs the oil industry as it's main produce seems to be coconut plantations.

Also an article in Trinoutdoors on the natural attractions of Trinidad - vampire bats and scorpions and all :))

don't mislead others

i suggest you do more research you have got it so wrong

Hi Scarface
Suriname is going to be an exciting asset but not because of anything offshore.
It's a different oilfield more like the Tambaredjo field to the West onshore..
Exciting because there is an uplift between the 2 fields with many faults and traps.
They have already loaded the Petrel Project software from Schlumberger to fast track the data at hand, this produces slides like we've seen at Saffron.
It will also give the resource data for oil in place by the end of H1, then go on to produce a field development plan

ATB:))

Hi DGR
Sounds good but knowing our relation that means longer hours
Same happening with my lad, a FD for a medium size builder 3 day week but with all the new government stuff he's having to fit 7 into 3

Hi Ben
My nephew has had a 10% pay cut and a 4 day week as a site manager

The new deal at Goudron is certainly needed, it's still a really important asset to have for Cerp.
There's a lot to sort out in the negotiations and Heritage are going to want action there with any cut to Royalties.
This action could involve:-
A deep drill below 5000' (previous license only went down to 5000').

Finishing the pipeline

An expansion of the water flood pilot A to pilots B,C&D

Obtaining more water resources

Redrilling around the stuck logging tool(big reserve below it)

I'm looking forward to the news

LLL
Every company issues forward looking statements it's part of the way of obtaining funding happens.
At that time for NR he and his management team were only part time, concentrating on Ruvuma with Solo.
This was a big concern to me then and is now with Tony and Gordon.
NR had things going for him over$100 per barrel, drilling new wells with c1000 initial flows, big plans for the water flood, one well hit the highest initial flow rate in T&T history, he was entitled to issue bullish forecasts.
Then disaster - depletion rates very high, oil price collapse, pipe line refusal to cross gas line, then the almighty calamity with the stuck logging tool.
He took his eye off the ball and lost big time.

Holybean - since you've been on this board I can honestly say I've not understood one post of yours.
it's quite obvious that you are miss quoting and misleading others
"sand ingress" you've written on one post while the presentation states quite clearly "good quality sands"
You certainly need to stop misleading people

Hi Ben
Is there a shortage with cement I've been told that supplies are very short

Hi Bazz
i've been looking at those 2 recently but the growth chance for me has gone.
I'm still looking for the next "spike".
Very pleased with my holding in ITM hydrogen play last couple of days it's rocketed.
oil stocks are still on the floor watching it very closely esp Cerp going to slip a bit more but it has an NPV on one asset of 90m and 18m mcap I'm waiting to top up.
also keeping my eye on TW first sense of any divi I shall be increasing.
For now though it's all about Ggp and Itm
ATB:))

Lex
schroders issued a policy statement last year that they were going to exit oil sector. they started selling Cerp no matter what the cost.
If they hadn't been selling the price may not have fallen to these lows, they've created this loss in their pension fund of their own making. Poor investment decisions to my mind

Hi Obadhia
All options will still be open until all the tests are complete.
60 wells may be drilled to connect all 3 zones but i'm suspecting a cluster of wells of say 8 drills to target the 3 zones individually.
It's going to be really interesting when the testing is complete to see what is going to happen.
Then there's the plan for zone1 a cheap way to top up the bopd maybe 15-25.

Hi Bully
Don't let the board policeman put you off the Middle Cruse. 60 wells planned , even if only half get drilled that's 30x 50 for zone 2 which has 90% net sands is 260'.
now look at zone 4 1099' gross pay and 364' of net sands. even with 95% water cut it may produce greater than zone 2. its lower down so should have bigger pressures.
Will zone 4 require a separate Development plan with even more wells.

and don't forget zone 3 the smallest net pay at 136'

i'm really enthusiastic about zone 4, exciting news due these next couple of months with Suriname stoiip due.

Hi Owls
Well i bought in early 0.6 that's 15x more than i put in, although i topped sliced the value has still increased to over 50% of my portfolio, so i'm very pleased.
In the 2008 crisis i had 50% in TW shares mainly in certificates from share options which was nearly wiped out and it was the smaller shares that kept me afloat at that time.
This is why I keep on about diversity in your portfolio, dividend stocks, growth stocks and different sectors. The 2008 situation will not happen to me again although there will always be something that will catch you out

Hi Tom
so long as it keeps rising slowly i'm happy with that
My relation gave me an explanation what drilling to expect for the Decline tunnel I can't say i understood it but will post it to see if anyone else can make it out :))