Member Info for Bamps21

Hi tc
I did a long post on my thoughts on Innis, on the 8 Jan
I personally don't think it's a good deal for Cerp and can't see Prd funding the $4.2m.
Can see this just continuing as it is sharing 50/50.
ATB:))

Hi Tom, troubles
Been a few good weeks selling and buying, just did a boring one bought HSBC x divi early Feb paying 16p hoping I can get out quick.
Just holding GGP going to be big re rate soon
Holding here what I got left
Took profits from Ika and Itm but will get back in quick (shares of the future)
ATB:))

Hi Stach
Missed your point about the CPR, it probably won't effect the share price on its own but it will have a massive effect on the NAV which in turn the Market won't be able to ignore.

Hi Stach
One thing about Saffron it was planned as a pilot well to test the SWP potential .
I don't think it was ever planned as a test well.
You stated it wasn't a gusher perhaps not but the amount they found changed their plans big time. The pilot plans went out the window and the well is now cased ready for production from more than the original target. I think they will have some idea of the flows expected.
Only my view as I have no other information to go on.
It's Goudron where the news flow is at drought levels.
Innis is the same but loads of information on the Predator web site
ATB:))

Hi Stach, Garnheim
I still believe Goudron is a prize asset.
Very difficult geology with 3 strata that join in places and fault trap lines.
The first trial of the water flood has proved the connectivity between 2 wells with pressures increasing, but it must be nearly 2 years now, has it proved worth it I really don't know.
The oil reserves are near the 100m mark but the means and finances for getting it out are not really sufficient to increase production.
The tax situation is strangling it
The lack of informed news flow has dried up for us on Goudron
Still trying to keep positive though, where I can

Hi Peter
Told you it would go down well :))

I think I've made a conscious decision not to invest in anymore oil shares.
Been reading the excitement on the Prd board about their Moroccan gas field, been there done that with Sound too risky to lose money. They're after gas in the Tagi layer those sands are very tight and don't flow very well.
I shall not be buying in there

Will just have to keep a smile on our face till this comes good
ATB:))

Well in the last 6 months Leo has kept his word and there has been a big increase in the number of RNS releases. The problem is most are regulartory jargon or share issues.
Decent news has been sparse we are all desperate for something to lift the share price. A decent in depth presentation is required to lift the spirits.
This shouldn't be happening after a successful drill.

Hi Faz
As I told Peter I get very confused with too many noughts :))))))

Hi Rickierich
I was starting to get lonely with nobody else working out the figures. Well done :))

The lower margins were reported before so might not effect the price but the softening of cost pressures will :))

When a CPR report is produced it should show that more wells will be required
For Saffron to recover the full amount of recoverable reserves.
11.5m divided by 10 years = approx 3150bopd
If Saffron produces the 3150 bopd it still wouldn't be able to recover the whole amount because of depletion.

Drilling can normally recover 20% of the estimated reserves
Water flood can achieve a further 18%
The final EOR with CO2 a further 19%

Total of 57% can be recovered from the 77m barrels of reserves = 44m recoverable

Hi Rickierich
I posted my thoughts on this on 10th Jan.
Basically from the financial results in September we only had $16m of oil and gas assets with a net asset of only £22m.

Net asset value = net asset - liabilities divided by number of shares in issue.
So if no liabilities are used 22m divided by 848m = approx 2.7p
That's without Saffron, Suriname, any contingency value
Most of the CPR reports we have are out of date affecting asset values
Saffron only has P50 estimated reserves value
When a CPR is produced for Saffron it should move the P50 to a P2 or P3 proven reserves and the NAV value will increase dramatically
ATB:))

Hi Garnheim, Karlci
The carbon dioxide that Prd are using is the bi-product of the ammonia production which itself is derived from oil.
Any CO2 put back in the ground is a good thing but 20% comes back out with the oil.
A better solution would be to produce CO2 on site from the air and pump into the ground . A firm called Carbon Engineering ltd has produced a unit to do this.
I don't believe electric is the future, for me it's hydrogen that will clean up transport.
ATB:))

Hi Tom
Well done with your M4, be no good for me carrying all my building stuff in :))
My lad has waited nearly ten months for his new BMW 6 he ordered it at 2pm on Xmas eve just before they were closing and got 24% discount. He's crafty. He won't let me borrow it for some reason:))

Hi Tom
I've been so lucky lately after taking profits from here. Went to Brw made 40p and sold, now bought more ItM at 66 now 106. Also topped up IKA at 27 now 46.
Big smiles all round :))

Hi dsc1978
I've taken some profits lately at 2.01 was hoping for a buy back in below 1.90. Taking a back seat for a while.
Historically the price is always high this time of year then drops off towards the end of Feb, so I'm going to wait but probably got it wrong :))

Hi obidhia
It is for the future, in reality bank loans to me are the best way forward not more equity funding
ATB:))

Hi Obadhia
A joint venture might be on the cards, but I can't believe a major will look at Saffron without a big increase in reserves to above 20m barrels. They will be waiting for the test results like we all are.
ATB:))

Hi tillidjohan
Sorry to hear you were with Sirius. I got out of that one very early on when I realised the finances were unachievable .
That's not what's happening here, most of the day to day funding is from ongoing operations mainly at Goudron.

The big project has been drilled at Saffron funded by equity and borrowings from Lind, now waiting for the testing. Oil coming on stream around June.
Other projects are due to start so next few months will be financially tight but the additional reserves due from these 3 projects should increase the market cap.
Suggest you look at SWP presentation on their web site and also the videos from Leo especially the agm video.

The share price is low at the moment and can only rise when the reserves are increased and proven

I'm not advising you to top up or not but I had a little top up on Friday , first for a longtime
ATB:))

Hi in4
The capex for the Saffron field (not well) is shown on the SWP presentation .
2021 and 2022 are in the £20m each bracket.
It is ambiguous whether it is the whole of the SWP but is shown under the Saffron field.
When you think about getting 11.5m barrels to the surface inside say 10 years , there will be a lot of new wells needed.

At 200 bopd x 365x10= 730,000
At 400 bopd x 365x10= 1,460,000

Or 11,500,000 divided by 3650 days =3150 bopd
In conclusion there are a lot more drills to come, as in my opinion we have excess of 11.5m
Take a look at the presentation and make your own minds up what the capex chart is inferring
I don't believe equity will fund this sort of capex it will just keep lowering the share price, I don't believe shareholders here have the stomach for that. Look what it's doing to Ukog
ATB:))