Member Info for crumpet

Unfortunately SMDR has long history of plugged holes !! :)

I never read the brokers. SMDR's press releases are always wrote positively, and if they report, for example "resumption of production at over 16,000bopd" (even if it's only that rate for 5 minutes) surely the SP will respond, albeit temporarily. Anyways that's my philosophy for buying yesterday. Regarding WK1, already months overdue. Not sure whats happening, hopefully they're persevering with something worthwhile rather than battling a dying cause. Long term relies on the the reality of their 3rd paltform in Thailand. (imo).

just bought at 103.5..... hopefully the impending resumption of production and the new wells will give the SP a kick in the backside. i was thinking of placing a limit sell at 120.....any thoughts ?

I believe we'll see a spike soon,maybe a time for a bit of day trading. I wouldn't be surprised if on resumption of production they will open the wells wide open for a few days to play catch up and to give a juicy BOPD to gloss their next update.

1) That won't happen but I don't think that will have any bearing on the SP; (2) Platforms will get up and running with with addition of at least 2 new producers....but got to watch out if the extended shut down has affected any of the subsurface equipment.(3) WK1 already months overdue. Apologies for pessimism ,..btw I bought in at >230 in 2012.

SP hasn't reacted to the negative news. Repair work due ito finish behind schedule February. Once the repair work done then expect a large spike in production due to 2+ Wells brought on production. "Fart and give us a clue" . salamander.

Bualuang production was forecasted to resume 25th Jan.....worth a dabble now in case it comes on line a tad earlier ??

In my opinion, the only two things that can send this stock up is a TESTED discovery in their currently unapproved Thai exploration program and the construction of the C platform. It would be useful to get a timeline on these.

Correct me if I'm wrong but I don't think oil is on the agenda for the lower secondary target, and although shallow oil potential was hoped for nothing was mentioned (=nothing found) in their December update.

I don't expect any spike until there's some positive exploration news from their Thailand operation -- namely the exploration that's still pending environmental approval.

I expect they will provide news on WK1 when they announce resumption of production in Bualuang in a couple of weeks.

There should be sufficient safety systems in place to prevent this from happening. This smells of a screw up. If the Thai media get wind of the oil spill, then their environmental application for the exploration programme will be at jeopardy.

Yes drilling can get slower deeper but for a multitude of reasons and especially during exploration. Hard formations, lost circulation in carbonates, unexpected faults, rig problems, bad planning, poor performance from contractors, etc, etc. Logging becomes more tricky deeper down also.

Averaging 12,700 bopd for December, that level will "remain broadly" and decline once the Bravo platform is fully drilled next year 2014. The new platform to be installed in 2016, production should decline from 2014 to 2016. Going to be a long haul for us.

Any whispers on WK1 yet?

Sorry for nit-picking the terminology Guiseppe, an optimum depth doesn't really exist. The primary target has already been drilled, and the final depth is the original secondary Eocene target. (There are additional secondary targets - all very confusing terminology - typical of SMDR). At least it would have been encouraging to read if the high dollar well test equipment was mobilised. I didn't see anything about wireline logs across the primary target.

Worrying that there's no mention of well testing.

Companies can't wait to release nuggets of information and Salamander are no exception, even if it's exaggerated logging data. Something appears not right if nothing has been announced yet.

Thanks, I totally missed that ! I wonder if that's one of those awful wells that takes a year to drill and big $$$$

Woobly ... where are they drilling exploration now? It's almost been a year since first oil in Thailand - that development program must be nearing an end now so one would expect a natural decline in oil production levels. A press release must be imminent regarding their future. If the stock goes down to 70-80p in the next few weeks I'll think about buying in again.