Member Info for Bamps21

Hi ninetails
I agree with you about the pipeline being too costly.
What happens if there is more oil than we are allowed to transport out under the planning regulations
I'm presuming a smaller pipeline to the railhead maybe the option or to a secondary locations where more tankers can be loaded.
I can't see it happening for a while, but SS must have contingency plans in case

Hi wizard
That 20-30m is a way leave and they require a certain distance from the pipe to the edge to protect the pipe. No machinery is allowed within that zone, I think there is an exemption for farmers.
There is a whole network of oil pipelines running around the country. It is a dual pipe mostly 450mm dia installed in the Second World War with spurs off. Different products apparently can be transported through it using separating plugs.
I built a roundabout over the one passed Portbury docks , watched all the time and helicopters flying along it to keep an eye.

I can't see them being allowed to connect into it , more likely their own pipeline to the railhead eventually

I've been invested in this from the start following DL from LGO, probably the wrong move. I find the talk of the Kimmeridge being a failure concerning so I've been reading up and listening to news of it.
In June RNS the pilot well HH/2 after casing would be taken down to 3,000' to break into the K to examine the geology between the Portland and K not to produce from it.
A note on a further RNS the team have decided to keep HH/2 and 2z as a Portland production well and HH/1 as a K production well
After the Portland is put into production the focus would be to test the lower K2 formation before K production begins at HH/1
At Godley bridge plans are to drill down to the Kimmeridge and put it on test
SS stated that after the successful testing of the Kimmeridge at HH/1 in the summer the K bodes well for the rest of the Weald basin
I'm personally still expecting good production from the Kimmeridge from our other sites, I can't see from RNSs any negatives

I enjoyed reading the news from Ukog yesterday explaining the process of drilling their well. A 12" dia hole to about 2000' has been cased and have taken a 60' long core of 8" dia for analysis, the first of a planned 3. Their independent advisors have informed them that the OWC ( oil water contact) is another 60' lower, so a fourth core will be taken. The excitement there is about more oil reserves.
The cores have been taken to finalise the position of the horizontal side track entry which will extend a further 3000'.
The share price has hardly moved with all this news, they have a dreaded YA loan fascility and every chance they've got their selling shares keeping a lid on the price.
Their recoverable reserves on that well are about 14m and with the horizontal well hoping for 3000 bopd

Saffron recoverable reserves are about 11m but the strata is sand/sandstone I'm not sure if a horizontal well can be achieved
Working with the finances Cerp have a vertical well is the cheapest, quickest option.
Clove is only a shallow vertical well so will be cheaper but the P50 reserves are only 170,000 barrels so the production will be small. A quick easy drill in known production sands.
In my opinion this is going to be a slow process of building up assets and production using our own cash, so some borrowings are probably the way forward but not YA
A YA loan is a death spiral for the sp and I am sure that won't happen with Cerp. We all know what happened when NR used it.

Hi grq
You're quite right confirming the reserve asset will take time and a CPR report isn't cheap and I wouldn't expect one on the basis of one drill, but confirmation of the reserves from an independent analyst like EPI will trigger easier borrowing fascilities. The more we find the more people will want to lend to us if we need it.

Hi lancygeo
The capex chart is showing $50 per barrel of revenue on an oil price of $60, was the figures for lifting costs about $10 from memory

Hi grq
Don't forget it's not necessarily the production that will raise the share price it's the confirmed asset reserves that will have an effect

Hi Tom, Bazz
Now the 27 EU members have told their negotiators to go into the "tunnel " and get a deal, I can see this rebounding even more this afternoon

ATB:))

I personally can't see any more M&A happening anytime soon.
There's no mention of the different colour deals on the updated presentation .
The company has a lot of fields to explore,produce and maintain. Plenty of upside and can pick and choose the best economical one to work on next. My guess is Suriname and Bonasse will take priority then Inniss Trinity

Leo said he wanted to be there at the drill site, he's too busy writing RNSs :))

Hi troubles
Is that blondes :))

The reserves are estimated as:-
P90 = 19m barrels (90% chance of the reserves being equal or above this figure)
P50 = 63m barrels(50% chance)
P10 = 153m barrels(10% chance of being equal or above that figure)
Pmean = 77m

(So there is a 10% chance or greater of having 153m barrels of reserves :))

Drilling and flow rates testing will hopefully confirm these figures and the reserves moved up to the next category

Hi Levis
I appreciate that you and half the posters want to leave, but nobody will come forward with any real benefits on leaving to you and me and I still can't see any.
It's all on a whim and the grass is greener on the other side
I believe the Right wing of the Tories are out for their own ends.
Most voters voted leave because of the immigration issue and was very worrying at the time.
It's over 3 years since the poll and people have the right to change their minds as we do with General Elections. I know my wife and daughter in law have, so is another poll needed, probably but it would only bring more division. The more aggressive leavers become though then probably we should.

I for one am totally fed up with it all but know it won't go away and a GE isn't going to solve the division this country is in

Calisto
You need to do more research before spouting ill informed facts

That's typical of the mentality you've brought to this board. Aggressive verbal slanging match.
I can't be done with your rhetoric
I'm going in the garden to talk with my magpie, he makes more sense
Good riddance

Well I have read this board through and it's getting worse than Parliament.
The left are supporting the Right wing Tories who would have believed it.
I am trying to be somewhere down the middle here but it's somewhere empty of support.
I admit I'm not keen on the Federal State but is a strong barrier for Putin and doesn't warrant leaving, in fact with our diplomatic skills we should have led the EU by strength not weakness .
No one has mentioned one benefit that will enrich my life.
Taking back control of what? By whom?
The Irish border situation is too dangerous a question to say it will be sorted in time.
Scotland will probably break away from the Uk , border controls will be needed.
Talk of we will be fine over trade worries me deeply. It's so intricate and watching that Ed Balls programme on food and where it comes from and to, establishes that opinion. No wonder farmers are getting worried.
Our international reputation is in tatters , our economic sector has been seriously dented, our biggest economy slowly moving abroad.
Honda are closing their car plant, Ford engine plant closed down and moving to Spain. Land Rover building cars in Slovakia whatever next.
I've no intention of moving to EU I am going to stay and try and make this a more even society, which is where no one on this board seems to be
I hope today will see an end to this debate and get back to TW business

I've kept away from this board today fed up totally with Brexit. Just looked in to find another poster spouting his Brexit nonsense.
Could someone please inform me how you are going to benefit from leaving Europe.
I certainly can't see any benefit for myself.

The country is heading to be economically poorer and everyone in it.

As I said how is leaving Europe going to benefit you
I'm expecting no replies cos I doubt he can think of any

From the road map on the June presentation which it looks as though it's been updated, Saffron has a low API and steam extraction enhanced recovery in place.
Out of all the fields Bonasse has the highest net revenue to CERP based on $60 oil price @$50 with royalties taking the other $10
Icacos is the next best net revenues with Goudron and Trinity down at $30

If Cerp have agreed to pay the drillers all or part in shares would this be accretive, I think it is. The main reason would be Clove could still be drilled increasing the resource assets.
A better way maybe would be to pay them in oil say 50/50 until the cost has been recouped, at least then the next well could be drilled and the next and the next :))

In regards to the spt tax that doesn't look enough to get things moving, I know T&T need the cash but it should have scrapped and a different tax on incremental production would have brought more cash in the long run

Hi Tom!!
No good moaning about my punctuation,.? I hopeless at it especially with this I phone ,,,,got mind of its own!?!?
:))))?

Hi Ben
Whereabouts in France are you looking my niece in France works in an estate agents in Cognac dealing with the English.
Very cheap still around there long way though. Used to take their son swimming on a Saturday hour and a half each way :((
ATB:))