Member Info for Bamps21

Hi Harel
Thanks for correcting me but at Bonasse we have an asset which they have stated at $60 oil price Cerp have revenues of $50 per barrel less costs
15m recoverable barrels is a huge sum.
I believe Oil in the ground is a different story $3-4 would be a fair estimate on 77-100m
That's my take on it anyway
ATB:))

Hi willec
I don't believe we will get to 20p by this time next year, 13-14p is my guess.
But the prize here is the recoverable barrels 11.5m in the Lower Cruse and possibly more above say 15m in total guesstimate. That's a large money pit $50x15,000,000 =$750,000,000 less costs.

What major would turn that down not many, let's hope those figures materialise
ATB:))

Sounds like somebody has written this not knowing the history or geology of the well.
For me I am surprised that we only have half the story but that visit by that Facebook group has preempted the RNS. I don't think we would have had news without that visit and it is still in a tight hole position with news being very limited.
That post missed the point that Cerp didn't know what to expect from the Upper and Middle Cruse plus at least 3 other layers, but it's quite obvious to me that there's oil in those layers especially with the size of the borehole
ATB:))

Hi Kaiser
Well put. Clove must be further derisked and must have a greater chance of success now than 66%.
I didn't believe they would go for it with the Pmean being very low but now I'm not so sure, if the money is there go for it.
I don't see any reason to deepen it though as the geology is rising steeply to the surface and no uplift like at Saffron, but there are numerous oil filled sands and fault traps at higher levels to go for.

It's good to find out where the work over rig is working next to the shoreline at Bonasse( thanks to jcgswims for that)

ATB:))

Hi willec
Cerp haven't proved anything up yet.
They know there's a lot of oil above the Lower Cruse that's why the well bore has doubled, but there's no flow rates yet or reservoir size, that's what's going to springboard the sp
Don't listen to LLL he got it wrong again like when he said the drill got stuck, when in fact it was the logging tool
All looking good they've found oil, big relief :))

Thanks jcg what a great find . How I would love to be on that tour, we could do with a share holder tour :)) even by video

Well I did assume something right they did stop to evaluate the Upper and Middle Cruse and sounds like others with good gas pressures.
Over a 17" dia hole that's big then down to a 12".
Continuing with the pilot hole they are not at the Lower Cruse yet.
Feel mighty relieved at the moment what a xmas present this is going to be, loads of oil means big asset, big asset means a higher Nav leading to a higher sp :)))

Hi Nige
I wondered that so I put the i in but still came back, could be my e mail bit unusual might be seen as a spam
ATB:))

Hi Nige
Tried to send you an e mail but kept coming back, :((

Hi Peter
We are not in delay yet
Reasons for taken it passed the 45 days could be a number of things
Positives include finding oil in the Upper and Middle Cruse stopping the drill to evaluate, high gas pressures

Negatives could include rig breakdowns, gas oil shortages from supplier

I'm only guessing but my money is on the Upper and Middle Cruse oil lengthening the time to drill and also 3 times longer to test
ATB:))

I've been told silence isn't empty it's full of answers.
Or in my case it's full of questions

To me this silence is not fair on us shareholders, it is being drilled with our money after all.
I hope they have a solid reason for it

Hi Tom
I would leave your runners at home tomorrow and take your waders :))
I wish Brewster was standing for "none of the above" would get my vote.
There is somewhere that has a box at the bottom of the voting paper with just that none of the above.

I've not gone into Rock my cars head gasket blown now, didn't want a new one just yet as I'm still using it for building stuff. The other half wants a new one too :))
Still waiting for Ukog and Cerp to blow , the silence is deafening, anyday now
ATB:))

Gone quiet here waiting for the dreaded result I expect.
Report in the Times of 343 small builders going bump last year due high costs and low margins. Not good news.

Tom are you about have you read the Prim Rns fantastic news?
ATB:))

Doom merchants coming back here must be getting close to news.
My filter list is growing

Trinidad seems to be in a pickle with their petroleum supplies.
30% of petrol stations have been shut down by the owner Unipet who is owed millions from the State and can't get supplies from the State supplier.
The other 70% are run by a state owned firm who are millions in debt, but still get their supplies from the state owned Paria fuel company without interruption .

Large queues at filling stations trying to get supplies.
Supplies to some of the islands energy exploration companies are also affected

The Energy ministry looks to me to be in a state of turmoil, no wonder it took so long to get the permission to drill

Ecuador has awarded Shell a license to lift 20m barrels from one of it's fields.
So Shell are interested in that size of field.

Saffron has a Pmean of 11.5m plus the Upper and Middle Cruse, any uplift could bring us very close to that figure

ATB:))

This is one of my concerns about a spike, the herd arrived at Rock last most are probably trapped there. There isn't the amount of money in Aim that there use to be.
On the brighter side more reserves/ assets at Saffron will convert the Nav to a positive and making the market share price worth a lot more than it is at present.
Goudron and Innis have both got 4m barrels of reserves with no uplift, where Saffron has 11.5m, with plenty of uplift.

ATB:))

I listened to an interview with the boss of Ukog yesterday and he was saying the same thing as I've been posting about re the reserves.
He said you have to look at the recoverable reserves as a money pit, a pit that you can borrow money on.
Every barrel for them is worth £15-18 making it worth £250,000,000 on roughly the recoverable reserves as Saffron but our take is probably double the £18.
He went on to add his aim is to find more reserves so that he doesn't have to dilute shareholders any further.

We are sat waiting for a huge prize maybe only a week away. My nerves are on edge
ATB:))

My grandson plays Metallica on his drum kit, I'm halfway down the road before I can't here him. Apparently he's very good :))
I'm still into the "Faces" and my Lambretta
ATB:))

Hi Peter
I'm no good with horses either, the chap you sat next to did a bit of book making and had a share with Montys Tan . It only won one race at Stratford. He goes racing with the x chairman of 32Red.
If I have a favourite day it's got to be Friday 13th, it's always lucky for me
ATB:))