Member Info for Bamps21

Hi Peter
The pilot hole remark sounds like they will go straight down to the total depth with that size drill before a tubing is inserted and cement grouted.
Depending on what they find a larger production well could be planned as a 6 or 7" tube will restrict the downhole pump size
ATB:))

Hi Nige
Electric is only the short term answer to many emissions at the point of manufacture. Hydrogen is coming Toyota ahead of the game, California way ahead of everyone.
Itm power are doing a trial with Keele University to see how much hydrogen can be put into the National Grid system est about 20% at mo
Climate change is becoming a big problem but people saying oil should be left where it is are living in cloud cuckoo land and that includes my daughter and granddaughter
There is a company called Carbon Engineering and they've developed a storage container sized carbon capture machine. I think I saw on their web site someone developing a floating cloud making device with 3 huge chimneys drawing sea water up and dispersing above the artic to form snow.
I wish builders could start some initiatives and become leaders in their field and make people want to buy one of their products, must be a huge market in waiting.
Sorry for being off topic but nothing else happening
ATB:))

Hi Z2Z2
The company haven't tackled one this big before, I hope they are taking their time to get this right first time. They will need all the experience they can gain from this drill as one of the next prime targets on the SWP will be far larger.
Exciting year ahead :))

Any news about Tw?
I've not heard anything here apart from politics which is a big turn off.
At least the government which ever part of is still funding my hydrogen technology stock Itm power, they're way up from the lows this year. Just opened their 8th filling point with Shell at Gatwick. Still a bit expensive to run a car at over 20p a mile. Toyota Mirai can do 414 miles on a tank with no emissions. The hydrogen is made on site so no transport costs. Will hopefully supersede electric.

I will keep away until politics gets boring, oh it has :))

The highest category of reserves is "proved reserves ".
Proved reserves have a reasonable certainty of being recovered, which means a high degree of confidence that the volumes stated will be recovered. To be clear all reserves must have all commercial aspects in place. It's technical issues that separate proven and unproven categories

I am trying to be very patient, so just looking at the numbers involved
We have a resource estimate Pmean of 77m barrels at Saffron with 11.5m recoverable and a P90 of 19m about 5m recoverable
When the drill happens the P90 resource will move to a P1 reserve ( I believe)
Therefore the P1 asset will be 5m x $50 per barrel to Cerp = £250m
Sounds too good to be true( have I done that right? I'm no good at maths :)))

ATB:)) be patient

Hi LGOfan
£500m mcap divided by about 833m Shares is roughly 60p per share
That would do me nicely :))

Hi offerman, vmax
Well said
I've got 5 on filter Krappe, fish,LLL, joebop and now Ross
ATB:))

Just thought I would change the heading :))))

Hi Nige, troubles
Tried to watch Question Time last night from South Shields, I was a bit taken a back by the hostility coming from the audience. 63% voted to leave in S Shields and that came over appallingly obvious with their anger.
The surprising thing is Nissan says their plant around there will become unviable with No deal and be closed down with thousands losing their jobs.
One woman on the panel said why would they close it down, it is a very productive plant.
Honda at Swindon was productive and that's going
They all had a very blinkered view of life after Brexit, I couldn't take anymore and switched it off

It's not started yet, this week suppose to start

Ross
You've twisted the discussion back to a negative again but you are correct that you can't compare like for like. Ukog started drilling over 5 years ago and are still testing, they started with a P50 reserves a lot lower than today's and it's the drilling that has increased their reserves.
Cerp have only been planning the campaign for approx 18 months , having to sort out the Bolt mess first. The drill and production will a lot faster than 5 years or more.
The 11.5m of P50 reserves is a lot of oil and Ukog 11-14m P50 is comparable with the statement " robustly commercial volume"
I am not going to spend any more time with your negatives, so back on filter you go

Now you are scraping the barrel

The Lower Cruse at Saffron has 11.5m barrels of recoverable oil.
A statement by Ukog on their 11-14m barrels " a robustly commercial volume".
All looking good here :))

Saffron is going to be a small step financially on to the first rung of the Swp ladder. Apart from the obvious income from the oil, the biggest prize is increasing the assets of the company.
11.5m of recoverable reserves x $50 will be a huge increase in the asset and there are 2 unknown quantities in the Upper and Middle Cruse
There is a risk that the quantities will be lower than the P50 but there is always the chance of them being higher.
I'm looking forward to the confirmation of the reserve numbers

If the flows are good Cerp finance issues will ease, if they're not up to expectations it will not necessarily effect the recoverable numbers just cost more to get it out

11.5m barrels is a lot of oil to go at and I hope the plan eventually is for a horizontal drill, which produce 3x more than a vertical well
ATB:))

Hi Peter
The Nav chart on the presentation is a better break down based on the Finncap source of 4th October, showing how it gets to 32p but most is unrisked and incorporates a 20m reserve target. The 62p may incorporate a 400m reserve target
ATB:))

Hi troubles
My wife walked the coast to coast with her friend, apparently they were a day behind Mick Jagger and his dad :))

Hi Tom
I hope he's not looking after teenage grandkids like me :(( long half term 2 weeks :((((
This you tube what they watch is complete rubbish disturbing, can't get them to go outside for a walk
Will I survive:((

Hi Razorman
Cerp have used the Finncap source for the NAV waterfall chart on the presentation
ATB:))

On the Finncap note of 4th Oct they have a price target of 13.7p to include Suriname 3.5p and Saffron risked at 2.9p.
On top of that there is a 4.4p on the Saffron unrisked+ 2p on a 20m prospect risked + a whopping 11.3p unrisked on that prospect.
Ok this is a NAV estimate/guesstimate but is that 20m prospect the next follow on drill
As Mr Magoo says could this be transformational