Member Info for bynari

It is quite unique for companies to have the opportunity to test such a large and prospectively valuable target for such a small investment.

The cost of exploration in this proven and developed region is far more reasonable than other areas of the world, particularly in comparison to similar sized targets. For example, shares in Carnarvon Resources (ASX: CVN) soared in July/August due to the success of the Dorado-1 oil discovery, although the cost of that well was $100 million. The size of that prize was 150MMBls (30MMBbls net to CVN) yet success boosted their market cap by over $250m.

RMP is poised to test a 400MMBO target (106MMBls net to RMP after royalties) for US$5.25 million. Depending on how one chooses to value a discovered barrel of shallow, conventional, light oil that is close to infrastructure and development, it could potentially be worth $5-10 a barrel to RMP.

Company transforming acquisition leads to February drilling
RMP expect to be drilling by mid-February, but how has it come to be that this consortium has exposure to one of the most prolific oil producing areas in the world?

The answer to that might sound simple, but being astute, well-funded and nimble were the main factors. The consortium was presented with an opportunity from a distressed seller and it is unlikely that any major oil company or consortium could have transacted so efficiently given the very short lead time that was presented. The vendor, Great Bear Petroleum, was forced to deal on their jewel in the crown due to burdening debt, a cash commitment to the Alaskan government and an obligation to drill a well within a year or face losing the blocks.

In stepped RMP, 88 Energy and Otto Energy Ltd, with all its ducks in a row: right place, right time, a consequence of fate, a strong cash position (fully funded) and a high functioning board.

RMP’s board, which has been the beneficiary of a new CEO with plenty of experience around big discoveries, moved quickly as it recognized the huge potential of the area and the freedom to operate in a region unconstrained by bureaucratic hurdles.

With Definitive Agreements executed, the focus will now be on drilling a highly prospective Nanushuk oil trend exploration well.

https://catalysthunter.com/oil-gas/rmp/asx-oil-stock-set-drill-multi-billion-barrel-alaska-north-slope/

MD Greg Bandy to present at the UK City Forum - Monday 21st Jan https://www.ukinvestorshow.com/the-uk-investor-city-forum/ … - come along to listen to an update on our projects

russukarian - no problem whatsoever

Just released on ASX
https://www.asx.com.au/asxpdf/20190121/pdf/441zpgt6674yr5.pdf

Winx-1 plan for drilling prospect located in the proven Nanushuk Play

The plan of operations, the primary drilling objectives include testing and evaluating the Nanushuk formation.

The plan says the well will be drilled to about 12,000 feet true vertical depth “to test stacked conventional objectives within the Nanushuk Formation.”

88 Energy operators said the well may be tested and hydraulically stimulated/flow tested and may include laterals, sidetracks or additional penetrations from the same wellbore. Also possible are wireline logging and related seismic surveys, such as vertical seismic profiles

The company said at that time that Otto Energy, one of its partners in the acquisition of interest in the leases, used seismic data acquired from the division to identify a prospect in the leases at a depth of about 5,000 feet in the Nanushuk, and said the prospect had a mean estimated gross size of 400 million barrels of oil, with a chance of success in the range of 25 to 30 percent.

http://www.ottoenergy.com/site/projects/exploration-and-appraisal/alaska

East of Horseshoe 1 well

88 Energy said the leases lie east of the Horseshoe wells, where Armstrong Energy found oil in the Nanushuk formation in 2017.

The Horseshoe-1 discovery well was drilled to a total depth of 6,000 ft. (1,828 meters) and encountered more than 150 ft. of net oil pay in several reservoir zones in the Nanushuk section. The Horseshoe-1A sidetrack was drilled to a total depth of 8,215 ft. and encountered more than 100 ft. of net oil pay in the Nanushuk interval as well. (Source and image: Repsol)

https://www.rns-pdf.londonstockexchange.com/rns/3605N_2-2019-1-17.pdf?_ga=2.194393006.2036861918.1547731035-1396339776.1546738870

Below is the real reason I'm in

I don't know what catalysts for SP movements are.however if oil been discovered 4 miles West of Winx-1 and 14

miles to the North of Winx-1 drilling site on the same formation what on earth lies underneath? hmm?

As Texas wildcatter once said, “ oil fields are like grapes, they come in bunches.”

In 2017 4 miles from Winx-1 drilling site
The Horseshoe-1 discovery well was drilled by the Repsol-led joint venture in 2017 to a total depth of 6,000 ft. (1,828 meters) and encountered more than 150 ft. of net oil pay in several reservoir zones in the Nanushuk section. The deviated Horseshoe-1A side-track was drilled to a total depth of 8,215 ft. and encountered more than 100 ft. of net oil pay in the Nanushuk interval as well.

North of Winx1 on 17th Jan 2019
Commenting on the operations update, Dave Wall, Managing Director of 88 Energy, stated: “The approval of the Permit to Drill marks the end of the permitting process for the drilling of Winx. Everything remains on track for a mid-late February spud. Our thanks go to the regulatory bodies in Alaska for their assistance in getting the well permitted in a timely fashion, particularly given the tight timeframe with the deal only closing in late July 2018. The 88E operations team in Alaska has done an excellent job and has been ably supported by Great Bear staff. It is also worth noting that the first exploration/appraisal well of the season, Pikka-B, has been reported as encountering high porosity, hydrocarbon bearing sand in the Nanushuk Formation, on trend and 15 miles to the north of Winx.

https://www.rns-pdf.londonstockexchange.com/rns/3599N_1-2019-1-17.pdf

7th January 2019

Price (GBX)4.25 Var % (+/-) +14.56% (Up +0.54)

https://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/AU000000RMP0AUGBXAMSM.html?lang=en

Pikka B well in Alaska encounters hydrocarbons in the Nanushuk formation

17 January 2019

SYDNEY (ASX:OSH | ADR: OISHY | POMSoX: OSH)

The Pikka B appraisal well has penetrated the Nanushuk formation and successfully encountered hydrocarbons, in line with pre-drill expectations.

The well commenced drilling on 31 December 2018 (AKST) and reached a depth of 1,201 meters (3,934 feet) on 10 January. A surface casing was set and coring operations are currently underway. Peter Botten, Oil Search’s Managing Director said:
“The early results from the Pikka B well are very encouraging. Due to detailed planning, we were able to take advantage of early cold weather and commenced drilling the Pikka B well ahead of schedule. The top Nanushuk reservoir was encountered slightly high to expectations and a core has been successfully acquired over a 37 meter (120 feet) interval. Early interpretation of the core indicates hydrocarbon-saturated, high porosity sand. The forward plan is to acquire an additional 101 meters (330 feet) of the core prior to sidetracking the well at the end of January. The construction of the Pikka C ice road and the well pad has been completed and the rig was mobilized to site on 9 January 2019, with the Pikka C well expected to spud in late January.

The objective of both appraisal wells, which will allow four reservoir penetrations, is to confirm the presence, volume, thickness, and quality of the Nanushuk reservoir at the Pikka B and C locations. Well testing, which will feed into the selection of the well design that will be used in the Pikka development, is planned for March and April.”Participants in the Pikka Unit

Oil Search (Alaska) LLC 25.5%
Repsol E&P USA, Inc. 49.0%
Armstrong Energy, LLC 19.1%
GMT Exploration Company, LLC 6.4%
Total 100.0%
ANCHORAGE

Nanushuk formation
http://dog.dnr.alaska.gov/Documents/ResourceEvaluation/20180202_Nanushuk_NAPE_2018.pdf

By E-Lodgement SC 55 – MORATORIUM GRANTED 17th June 2016 Red Emperor Resources NL (ASX | AIM: RMP) is pleased to provide the following update with respect to Service Contract 55 (SC 55), offshore Palawan Basin in the Philippines. Red Emperor has been advised that the Joint Venture (JV) has formally received approval from the Philippines Department of Energy for a two-year moratorium, until 23 December 2017, on required work activity under Service Contract 55. During the moratorium period, the consortium will conduct specialised geophysical studies in the area surrounding the Hawkeye Prospect which encountered gas shows when it was drilled last year. Although the Hawkeye well did not encounter gas in commercial quantities, it proved the presence of an active petroleum system in the contract area which hosts the “Cinco Prospect” as well as several other leads. As announced previously, Otto Energy Limited (ASX: OEL) has advised the JV of its intention to exit the Block SC 55 as part of its strategy to focus on its North American assets. Red Emperor intends to have its full, proportionate interest be assigned and as a result its working interest will increase from 15% to 37.5%. In conjunction with Red Emperor’s commitment to SC 55, the Board continues to review and evaluate new opportunities it believes could compliment the current assets in the portfolio. The Company looks forward to providing the market with more information on these potential opportunities as they develop. For and on behalf of the Board. Greg Bandy. http://hotcopper.com.au/asx/rmp/

Hi, Been posting on here since RMP were first listed on Aim back on June 23rd 2011 at a price around on opening of around 23p rising to 32p if I remember correctly & falling back slightly on the day http://redemperorresources.com/wp-content/uploads/2011Admission-to-AIM.pdf However I find the team you speak of Ftjournalist quite amusing cause this board before they arrived at the start of 2015 was pretty quiet - I do not think anyone will buy shares on what is posted on here if they do they are stupid for not researching RMP on there own. I do not know where Greg will take this company next but for sure with millions in bank 2016 should once more be a very interesting year ahead for RMP & again will be about short term speculation as usual with sp rising & profit taking. Wishing you all a good Christmas & here's to a profitable New Year for us all. best wishes, Bynari.

posted Wed afternoon on ADVFN PELE's cap is around 50m at present with the current 88m shares in issue. It produces in around 1200-1500bopd. Although we'll need to see a more long-term production profile of the colon wells to judge the decline rates better. they've also around 6mmbbls of reserves although the new reserve report when its eventually released will clarify that. The reason that I entered PELE once again was the testing of the new Colon sand. Its approximately 3 times thicker pay to any other Colon well and this deeper channel could cover a similar area to the existing field and also elsewhere on this or neighbouring blocks. We need to see if these oil prone sands flow first though. The C-3st also has the typical colon pay sands at similar depth as the other producing wells. If the new sand flows well it will add potentially significant P2 to PELE as well as possible material production. The cap was only around £30m when I bought. Since discovering this new sand channel management and their largest shareholders and backers have added significantly to the tune of around $20m. So a decent portion of the current cap is still cash. So depending on the outcome of the C-3ST PELE could be significantly under-valued with a cash pot and a production level in the region of 2500bopd-3000bopd with reserves to add from Q-1 and C-3ST. Or largely as they are with $20m cash, 6mmboe P2 and about 1000bopd. Also the reserves of the field are now thought to have a stratigraphic element after what they've encountered in C-3ST. I'm holding off adding until all the hot money has gotten bored and wandered off. Next key news will be the flow tests of C-3ST, will they be +ve or -VE that is the big question. With the run without news backing it and relentless buying it looked like a leak, not its turned quite sharp. A leak or traders panicing that is for you to decide. I'm keeping my eyes peeled on news. Bizarre trading swings are largely irrelevant to the future of the company, the results of C-3ST that's another matter entirely. I don't know why it rose, don't know specific reasons for the fall back (guess would be mix of profit taking and panicing in the short-termers). PELE aren't over-valued, many oilies are valued much higher and have found and produced nothing but lots of dirty water. After cash their production and reserves are valued at £35m. after this bb settles down to 3-4 posts a day again I'll likely add, in the mean time I'll wave good bye to those who buy and sell only on momentum. And if you canny beat the hot money, join the hot money and you'll end up with an increased holding at little or no extra cost. My reason for entering PELE hasn't changed. Captain Nelson Forties.

I did realize lol

Re my 9.09am post I was referring to Dhatrader making his phone call last night, GL with your trading back later.

Todays rise in SP is as a result of a very respected poster taking it apon himself to gain some news re a telephone call 5pm last night overseas to the company himself so we all have him to thank today

If you go to iii board click on posts with + 10 see Dicko80 post under heading of Valuation can give you some idea but as always DYOR

Futher to Rocketmans post below Re: Spoke to Chief Reservoir Engineer My personal view is that by calling you dont lose anything but you might gain something. Generally speaking these folks are like normal people and if you ask non sensitive questions you generally get a response. I found the call fruitful personally and therefore worth sharing. No specific date mentioned so if Colon 3 comes tommorow then dont blame me and if 3 weeks then also the same. Eitherway, it was nice to see they are going straight after the deeper Colon 3. Should be awesome if it comes in!

Thanks for posting dhatraders post copied from iii, he is a top poster on GKP & other boards so all good ... B

Good morning Dicko80 I appreciate your detailed posts on Pele & thanks for the work involved there.... B

Yes we are still waiting for news on Colon-3ST, due in anytime now !

Good post on ADVFN today on Petrolatina thanks to Dicko80 worth a look IMO So with currently only 2P reserves of 2mmbbls and 3P of 5mmbbls.... U can quite clearly see the huge upside from these levels 6.1mmbbls was valued @ £85m by EVO, so if the colon field does hold 50mmbbls recoverable, thats potentially jus under £700m mkt cap and an sp of 650p+ based on 89m shares or 325p+ fully diluted.. http://www.advfn.com/cmn/fbb/thread.php3?id=20905490

Posted on other board today valued @ £85m One of PELE's primary objectives is to reclassify 11.4mmbbls of 3P to 2P, this was before the new additional sandchannel alot deeper under the colon field. If they reclassify 11.4mmbbls then thats 17.5mmbbls and £244m £244 / 89m shares = £2.73 ................. The additional sand channel is nearly 3times the net pay of the upper zones ..... So what does this hold in recoverable oil ?? Then add that to your £2.73 ................ Speculate to accumalate and all that Cheers Dicko