Member Info for Bamps21

Hi tc
It's all about the geology in Trinidad millions of years of different alluvial sand deposits overlaid with coastal sand deposits. Compaction, heating earthquakes, volcanoes have given us what we have at Saffron.
Look at the cross section on the presentation through Clove and Saffron, they are all Cruse layers the top 2 are the Upper and Middle Cruse in pocket layers, the main layer at the bottom is the larger Lower Cruse
The Lower Cruse has 3 horizons where the 3D seismic echoed back to the surface. These 3 they have found by drilling to be of a good sandstone albeit very thin and probably have the best chance of containing oil
Every oil reservoir needs a trap / non porous block to stop it reaching the surface or moving sideways.
Each Horizon has sand packages below which sound unstable and these could contain gas,oil or water or all 3.
Cerp are playing it very safe and going for the more secure horizons to see what's there, maybe highly pressurised but there could be upto 800' of gross pay.
Gross pay is the overall depth of the reservoir, net pay zone is the most likely to produce oil and it is this that's unknown.
There are unlikely to be any gushers these days as oil drilling is highly regulated.
As far as films of oil drilling probably be best just to start by googling the drilling rigs and see what comes up and look at the clip on the web site.
If you don't understand certain items just ask it's the best way to learn
ATB:))

Hi Johnjojim
We have differing views on Nav
If you calculate the Nav from last autumns figures you will find it comes to 2.7p without any potential whatsoever.
Looks like the market has already added in the new shares.
The new assets coupled with an independent CPR report will increase the base price, the flow rates will only confirm potential but add revenue in the next set of figures again increasing the base price.
I know nothing of TXP and not really interested, tarnished by years of Ross.
This share has its own tarnished history so is different to others in T&T
ATB:))

Hi Obadhia
Yes I know about spt
With spt it will take 85 days for Prd to get their expenditures of $600,000 back and give Cerp $1,277,500 per annum thereafter.
What I'm not clear on if they start the main project straight away will Prd still claim the revenue from the pilot while they are spending on the main one or treat them separately?
The reason I didn't use spt numbers cos I believe the price pressure is downward with the Chinese problem and also Libya problems kicking in. Explained on oilprice,com
ATB:))

Hi LGO
In response to your post
1
Suriname EWT should be fairly quick to start producing once funds and equipment are available.
Hopeful for Q4 production but revenues not as good as Bonasse so 100 bopd would produce about $1m pa

2
Innis - Cerp won't start earning any revenues until Prd get their costs back, so what can we expect. Basing it on a WTI of below $50 say $49 then no spt tax therefore revenues of about $37 and Prd can claim a max of $10 costs so $27 revenue.
Now costs of Prd for project are expected to be $600,000 and are expecting 350 bopd so just over $9,000 pd.
Cerp can therefore expect revenues to start after 63 days. Initial estimate was $800,000 so if they want all that back that will be 84 days
Cerp revenues expected about $1.75mpa
The pilot is only 4 wells , the test phase was injecting into all 4 to get pressures up. Then 2 wells turned into production wells, so the pilot is estimated to produce 350 bopd straight away.
If successful Prd intend to use the remainder of the $800,000 to start the main field and rest from revenues

3
Goudron- if the Wti drops to $49 the revenues per will increase to $37 making it more viable
4 South Erin
It's ready to start production but revenues are only $30 at mo but 100 bopd is about $1.1m

I'm not making any predictions but I believe the base price sp should be a lot higher than today by the end this year, without the Lower Cruse
All my opinion
ATB:))

Hi LGO fan
My thoughts on contingency plan if the Lower Cruse is uncommercial (which I doubt)
1 test and produce from the Middle Cruse I'm hopeful for 100bopd or nearly $1.5m pa 2 year pay back
2 drill Clove to Middle Cruse
30-50 bopd upto $750,000 pa
3 drill another Bonasse well
4 deepen Icacos well
5 get South Erin producing
6 workovers on rest of Innis field as the pilot is only 4 wells
7 EWT wells on WNZ
Plenty of quickish options but all depending on funds

ATB:))

Apart from 2 financial updates per year and a few progress reports there is very little from them to talk about.
The best news info to come from Tw was nearly 2 years ago when they held a Capital Markets day for brokers. I haven't heard of another forthcoming one yet for this April.
Posters come on here at times complaining that we're not talking about Tw but I'm afraid there's only so much you can say unless you want a completely blank bulletin board and there are a lot of those around.
If you want to come on the board for a friendly chat your most welcome
If you want to talk about Tw then please do so,
ATB:))

Hi Faz
If the recoverable barrels of 11.5m are achievable this will be a game changer. That's a lot of oil, that's as much as UkOG have on their CPR at Horse Hill site. They've already drilled 2 wells and planning more.
I've posted before but I believe if they produce from the Lower Cruse then other wells will be drilled to target the Upper layers and they just said that's what they're planning to do.
Depending on the water situation in the Lower Cruse we could have up to 800' of gross pay , that would be fantastic .
200bopd would be around the $3m mark per annum so 1 year pay back.
The big prize is still the reserve volumes and a CPR report to follow will certainly lift are base value
Could be a good second half of the year.
An Agm at the end of the first half could be very interesting and I might attend if it's in the daytime
ATB:))

Hi Faz
Me rattle cages I've not got a forked tongue:))

The wells producing at Bonasse at the moment would not require a big tank , would take all week or more to fill a road tanker. When I've looked on Google satellite image I've not been able to pick out any tanks but the rigs shadow is evident unless it's a radio mast

Hi Johnson
Not an official club and it's mostly me doing the talking :))
I'm amazed how few people understand how to deal in shares and what divis are, even what a share Isa is.
All the best in Bangkok bit too hot for me

Those tanks would been transported to site and off loaded with the skids and moved into position and raised vertically and a bund built around when in place

Great pic of the 3 x 400 barrel tanks . No evidence of a bund so tanks maybe duelled skin , some tanks have heaters making the oil more fluid
Would be good to see one of the separator unit, they did say that they had one in Goudron. The gas would be separated and pumped back in repressurising the reservoir increasing recovery rates

I'm off to pub for share chat club
Come on over suns come out here :))

Hi Tom
Nothing I say on here is going to make any difference to the shares

Excited by another hydrogen share making it from waste plastic bound to get bigger, on the top riser board
ATB:))

Hi Offerman
I saw that about the low risk but they have mentioned it before and the missed reservoirs. Not sure why the delay on Icacos presumably cos Bonasse has a better rate of return which is why it looks like the next well will be in the Middle Cruse at Bonasse. I would expect news on that soon.
It would be interesting to know where the 400m target is?
On the Nav chart it does show 4.9p but that was nearly out of date when they posted it due to additional shares and reduced reserves (Snowcap and Innis due CO2 project needing a new CPR) making the Nav value closer to 2.7p
ATB:))

My post got removed for some reason
It was nothing to do with what either of you said but more me not liking the designs on that site which you all know I've not liked from the start and then that happens.
My post seems to have attracted abusive characters, I don't know why people do it.

Anyway the sp is too high for me to buy any more and have found another opportunity hydrogen play. I can't name it cos that why I think my post was deleted but it's doubled in a couple of days
ATB:))

Sorry to have said anything but when you see something like that very close to a school made me shudder.
I have worked on clearing Aberfan tip so keeping kids safe is a priority for me
Last post here for a bit

Been to my lads house in Swindon to repair his fence and drove through the Tw estate where the roof gable has fallen down. It's no more than 20 yards from a school entrance. They have barricaded the whole block off.
Big repercussions coming in my view

This share reminds me when I was buying and selling Croda between £1.20 and £1.40. I got caught out when they shot up to £4.70 and had to buy back the ones I sold in my wife's account before she found out , but now trading in mega sphere:))
I'm intending to hold these ITM shares certainly one for the future

Oh I forgot I did go to another agm after Carillion (strawberry soufflé thing was fantastic) Marstons in the Wolves ground wow 300 odd there cooked meal, £1 pint.
Was really looking forward to last years but they brought it forward to 9am and only tea and biscuits sp plummeted:((

I thought Offerman did a great job at last years Cerp agm