Member Info for deltalo

Good morning Starchild, I couldn't agree more, I love it.
So much potential here it's exciting. 300m mkcap for an asset producing 4000bopd 25m+ free cash not to mention all the other assets and possibilities you mentioned is realistic.
Nice post SC.

Bargain basement price's now. , Who in their right mind would sell now when it's all about to start.
It's a great opportunity at this crazy price imo,
It's all about to start.
The Saffron-2 well is currently being drilled in the South-West Peninsula of Trinidad. Challenger Energy has a 100% operating interest in the well and the broader Saffron project. The target depth of the Saffron-2 well is approximately 4,550ft, with the well design comprising three sections:

-- the top section, to intersect and assess sands of the Upper Cruse and upper parts of the Middle Cruse (these being zones previously intersected and logged in the Saffron-1 well, and which since completion of the Saffron-1 well have been the source of consistent oil production from that well),

-- the middle section, to intersect and assess deeper Middle Cruse sands (these being zones previously intersected in the Saffron-1 well, encountering hydrocarbons, but which were not able to be logged and produced from the Saffron-1 well), and

-- the lower section, to intersect and assess the Lower Cruse sands (as with the middle section, these being zones previously intersected in the Saffron-1 well, encountering hydrocarbons, but which were not able to be logged and produced from the Saffron-1 well).

The primary targets of interest are the Lower Cruse and deeper Middle Cruse sands (that is, those to be assessed by the lower and middle sections of the Saffron-2 well). The budgeted total cost for the Saffron-2 well is $3 million, and the anticipated drill time in in the range of 25-30 days. The well was spud at 7:30pm on 23 May (Trinidad time), as per schedule, and the Company is able to advise that:

Now the seller almost out there's nothing in the way to suppress the sp any longer, can't believe this has been allowed to drop to this level now, open-offer was 3.5p and that was at a good discount at the time, so really the company needs to bring value back to the shareholder's fast .
It has to turn soon as we're moving very close to the middle-end of the drill and I'm expecting very good results.
Time to buy now imo.

Tuckman, sorry but that's just rubbish talk and woni be needed.
The company has 13m available cash and another 14 that can be drawn on.
Saffron2 appraisal well if successful will deliver above 2m a year instantly as it'll be producing straight away.
The rig is on site so less costs for future wells and the whole field can be available for instant production.
The company now has sorted out the balance sheet to put it in a stronger financial position and more desirable for future investing and current investors.
The company now will roll out the next 5-9 wells this year and rest next year to maximise oil revenue from are 100 percent owned Saffron2 oil field. When is the market going to wake up as I think the P1 has scared investors but there's really no risk here.
We're drillng an appraisal well not an exploration well, we know there's oil down there.
Soon as that oil from S2 is producing the sooner the sp will jump.

Facts are correct as stated. Saffron 2 will be a very high cash generator for many decades to come.

4000bopd that is , sorry for the mistake.

I think many don't realise the size of the Saffron2 oil field, the middle section will be cased and put directly on tap at least 200-300 bopd I expect this will be higher, the lower section to 4550f will be cased and used as a future producer. So middle section with 30 wells delivering 400bopd and the lower reserve's cased as s future producer.
So oil will be plentiful for a very long time.

Looking Forward

-- The next (middle) section of the Saffron-2 well (at 12 1/4") will be drilled to a target depth of approximately 2,800ft, and thereafter logged and cased.

-- In this next section of the Saffron-2 well the Company expects to encounter hydrocarbons as identified in the Saffron-1 well in the deeper Middle Cruse, but as distinct from the Saffron-1 well also expects to be able to acquire open hole wireline logs where they were not previously able to be run.

-- Thereafter, the drill plan is for the Saffron-2 well to be drilled to a final target depth of approximately 4,550ft, logged, sampled and cased as a future producer. As with the middle section of the well, in the final lower section of the Saffron-2 well the Company expects to be able to assess and produce hydrocarbons that were identified in the Saffron-1 well in the Lower Cruse but were unable to be logged and tested in that well.

The Company expects to provide a further update at completion of the next section of the Saffron-2 well.

Looking very good.

Is on the up again, over 70dpb, the companies revenue forecast from Saffron 2 is at 60dpb so the value from the field will be alot higher than 20m it'll be more like 30m+.
This is great for the company and will show in the sp soon.
Just a few more weeks to wait.
https://oilprice.com/

Just the start of many imo.

This is an appraisal well not an exploration well so we already know the oil is there, so now the appraisal well will show how much oil is possible for a full field development.
This is a big deal.

Just as I predicted.
Drilling started as planned, Zag you we're saying it hadn't, your full of it, now go away lol.

Great interview and presentation, we're fully funded throughout this year and no intention of further dilution, Saffron 2 spud confirmation is imminent so I expect it to be today or tomorrow at the latest.
So basically they expect very high revenues from the future wells in S2 and Suriname, and also S2 lookalikes.
Very strong buy imho.

Don't worry, it'll turn northwards soon enough, it's great for newbies to join in.
I think the next update will push the sp well up.

It won't let me do it that way, so here it is this way.
https://t.co/bVD0tnX46H?amp=1

We may well have an update on the spudding of the Saffron2 appraisal well today. Eytan Uliel spoke in the Vox market's interview that drilling starts on Sunday and the interview was on Friday so two days before.
If there were any chance of a delay then I'm sure Eytan would have mentioned it. So I'm 100 percent sure the drilling started on Sunday, listen 6mins into the interview as its quite clear.
I'm very excited about the outcome of this well and the overall Saffron 2 field.
A possible huge cash generator imho.....
https://www.**********.co.uk/media/60a7be111856ee451beb306c/?context=/listings/LON/CEG/multimedia/

An rns would have come out if it wasn't spud. So it's all going to plan as stated in the last rns.

Good morning Starchild,
I totally agree and I'm also expecting very positive newsflow throughout the rest of the year.
I have full confidence Eytan Uliel and the team will deliver an uptrend of shareholder value, starting next week.
Very exciting times ahead I really do believe.
Have a good weekend starchild.

Don't worry as this will be moving up shortly, Saffron 2 news flow and investors interest will soon push the value up before the actual results in a month time, we know there's oil there and I expect good results coming are way..

You have to put the full name in, challenger energy group on the chat as ceg hasn't been setup on advfn yet.