Member Info for Bamps21

These damn floods are back don't think my local will ever recover, getting closer to highest ever recorded in Worcester.
Tw built a lot of apartments in the docks area their bunds will get tested today.
Main bridge has just closed, going to be hard to get about tomorrow:((

I've been reading a lot of energy web sites and stumbled across this one "Energy voice".
In the Department of Molecular Science in the McQuarie University they are leading the research field into microorganisms that consume oil.
You're thinking like me how does this effect Cerp.
This bacteria they've discovered eats the oil and gives off or f..ts hydrogen .
They reckon the best situation is where an oil field has had EOR but there is still a lot of unretrievable oil such as in the U.K. North Sea or as I'm thinking Trinidad.
Cerp need to hang on to their old fields for as long as possible could be a new industry springing up.
Price of hydrogen is roughly 4 times that of conventional fuels and could keep Trinidads ammonia industry going without producing any CO2.
Would give Cerp a Green rating :))

Hi Tophat
I've got a complaint number with the complaints dept. I've had a great big hamper and 3 lots of compensation and until Carillion disappears their fees dept will keep billing me and I will keep getting on to the complaints dept.
If I ever move again I will sell all in the account and just transfer the cash within an ISA, can't do that though in a normal account cos of the capital gains
ATB:))

Hi Daz
I'm not too sure what you mean Daz?
As I've pointed out before when the WTI was around the $60 Prd stated that the Pilot was viable only with the use of Fram's losses against spt tax. With the price lower and the budget for CO2 injection lower it may still be viable. Cerp though will only start gaining after about 85days of oil production.
Prd geologist has stated that the best reservoir for CO2 is the Herarra 2 sands and will achieve 50%+ of the recoverable reserves, so 890,000 minus about 10% unachievable = 800,000 in half = 400,000 barrels. This would give Cerp a revenue of £1.2m pa for only 3 years
This estimate is a high guess estimate so my figures will probably be lower
What I am trying to get over is Cerp would be better off with the sale and use it on a more profitable project. The CO2 supplies are restricted to what's left after export.
Bonasse gives revenues at today's WTI of about $45 per barrel
Innis gives revenues of $25 at today's prices.
$4.2m would fast forward a number of projects :-
Saffron development
Middle Cruse additional well
Follow on Bonasse well
Suriname EWT
South Erin project ready drill

Bringing all these forward then the sp might get to the new Finncap level of 12.5p
ATB:))

Hi Newboy
I decided to get out of Barclays at around the same time as you, unfortunately for me the 4-6 weeks quoted has taken nearly 2.5 years and still going on because of their failings it's costing loads in phone calls to their complaints department. I can hear them saying oh no not him again and another £50 compensation. They didn't transfer all my shares over quick enough and 2 went bust leaving them in limbo and £4 pm costs. Been a nightmare.

Upto 2018 Trinidad was the worlds leading manufacturer of ammonia, recently being overtaken by Russia.
Ammonia is mainly used for Potash production and urea.
Trinidad exports most of its ammonia to South east Asia.
There are a few different processes for making ammonia but basically extracting Nitrogen from the air and hydrogen from methane gas. The bi product from the hydrogen process is CO2.
Trinidad produces 5.2m tonnes of ammonia which means it produces 15m tonnes of CO2 most of which is exported not a great deal of it is used for EOR.
The problem Trinidad has it can't get enough methane gas for the ammonia plants and in 2004 a ban was imposed on anymore plants.
The large oil companies are not interested in finding the numerous small pockets of gas known to exist off the east coast.

I can see a large market here looming for hydrogen technology produced by electrolytes using renewable energy with no carbon emissions
Trinidad could then regain its top spot status

Hi LGO
Just a couple of things of what you been.
1- the last half year report was on September 4th does that mean we should be due a second one on March 4th if so then maybe in a closed period. 6 weeks before results I believe .
2-
Thinking about where the huge target of 400m barrels could be. If it goes under the shoreline there will be big discussions with Heritage about licensing etc
Would be nice to know but too price sensitive and probably would put them again in a closed period, but only my assumption
ATB:))

Interesting that Gelco were the contractor.
They were one of the parties that sold Steeldrum along with Geoffrey Leid.
Gelco were also something to do with the initial placing for Predator (didn't want to wade through 232 pages to find out)

Upto 2018 Trinidad was the worlds biggest producer of ammonia losing that position to Russia .
There are many companies in Trinidad producing ammonia from nitrogen and methane gas. A country with many gas fields, the large multinationals are unwilling however to explore for the many smaller pockets of gas, as a result there is a shortage of gas for the ammonia production.
For every tonne of ammonia produced there are approximately 2.8 tonnes of carbon dioxide, most of which is used for other products and used to put back into the oil wells.
Looks like there is a huge market waiting for the ITM technology

Hi LGO
From what I've been reading and trying to make sense of the future plans I am convinced they will be going for another well into the Middle Cruse. Whether this is Clove I don't know but it could be another position possibly close to Saffron.
If Saffron's Lower Cruse is a success then another well targeting the Middle Cruse close to it looks obvious in my view.
The revenues are far better here than anywhere else we've got $45 at today's prices.
As for the rest of follow on wells on the SWP the next ones look like Icacos "multiple stepped intervals with missed reservoirs "
Revenues though on Icacos are lower at about $35
Looks as though this summer they will be planning works on South Erin "ready to go wells" but at today's prices is it worth maybe around $25 revenues
Last September report put the company netbacks average at only $16 mainly from Goudron so I can't see anything happening there
Innis CO2 - will they or won't they buy it?

The 2 workover rigs Cerp own, one has been in Bonasse around Xmas time the other has been with Prd and according to Paul Griffiths has achieved successfully some really difficult work for the instalment of the CO2 injection.
I believe that Clove is shallow enough for a workover rig
ATB:))

Hi LGO
Clove isn't a big prize and won't set the world on fire
Costs are reported to be $400,000, a Pmean of 210,000 isn't big but at this point in time we need revenue
210,000 barrels of oil in place is approx 20,000 barrels recoverable at about 30 barrels per day would take 1 year to pay back . At $45 revenue at current rate =$492,500 per annum
You can see it's only small but would generate some income. It definitely was the right decision to get Saffron done but while we're waiting get some revenue in
ATB:))

Hi Siliv
Just bought £1250 worth at 2.275 that's far too cheap got some divis due next couple of days will look to see what the price is then

Hi LTID
That would need an allotment for a share buy back I don't believe companies can do that with borrowed money

Hi GRQ
I know you've had issues recently good luck to you for the future
ATB:))

Thanks TC
She's off :))

Hi Offerman
If you take last September current assets of 32m and deduct last September current liabilities divided by say 900m taking into account the extra shares in issue the Nav would decrease to 2.55p
These shares are cheap as ( was going to say chips but they're dear) :))
If the other half would get off the computer I would buy some more.
LTID so if I buy 2k how much would everyone else have to fork out, let's get rid of Schroders ( I am willing to put more in). Can't Cerp organise something for us to buy them out.
Not ramping just want to get rid of Schroders

If you look at the Sept Cerp update one of their aims is to look at another country with M&A and to drill Clove besides Suriname.
ATB:))

Hi TCGLOVER
If we all got together we could take Schroders shares off them perhaps for 1p they don't seem to care they are losing money selling
ATB:))

Hi LGO
The figures are only a calculated guesstimate
Plans for another drill in Bonasse were announced in that update maybe at Clove.
The revenues per barrel are too good to go elsewhere . WTI today about $55 making $45 per barrel revenue
ATB:))

Should be 6-12m divided 2 !

Hi Garnheim
My estimates are based from other wells in similar layers but the difference here at Saffron is geology, Bonasse 2 is outside of the updip so I am being conservative with my figures but won't be disappointed with 50 from the Middle Cruse.
I still believe it would be best to joint venture with Prd better for both parties but they were adamant on that board at the weekend to go it alone.
There's definitely one thing though it's Cerps rig not Fram's
I would suggest rereading the Rns from Prd regarding Innis.
The geologist stated they are only doing the pilot from the Herarra 2 sands as that is the best option. This reduces the recoverable barrels in half immediately , which will equate to less revenue. Also the new estimates of between 8-15m recoverable are high estimates not Pmean which is more like 6-12m divided x 2.
This is why I have changed my opinion over the weekend and hoping for the $4.2m
ATB:))

Well that's a contradiction one minute you're waiting for results the next minute you're saying there isn't 11m barrels, how do you know that explain yourself please.
There is every chance there is more , remember the Middle Cruse was not in the estimate