Member Info for Findme

Same here

Sailplane I was going to respond to that one, 10% my aris, I have more than some of them, but it started raining on my Roller so I had to get it in the garage then forgot to.
May be you can see why I get a little p*ssed off now and then when we get misleading statements like this which happens quite often.

Tiburn, I thought at 500bbl/day we were making a loss after all payments, is that not o.

Keith, I feel you should take holy orders, perhaps Star could add another magnet to his fridge. I can imagine you in a long robe with arms outstretched and a bright light behind you making a speech like that.
I comment on issues as we find ourselves and try not to prophesy, assume and use maybe's and could be's just like the remoaners during the Brexit debate, these pontifications as most politicians know can be adjusted to suit. Just look where we are, even Star did not expect this.
I bet I have been with BPC longer than you and have seen all sorts of jam tomorrow comments over the years.

Nelly, as far as I am aware we were funded and ready to drill before the virus raised its head and would now be fully aware of the results and as far as I am aware shareholders were not aware of any scheme to merger with another company especially a debt laden one.
Your remarks like Keith and Willi reminds me of the story of the Kings wonderful clothes.

We have merged with a lame dog outfit that was mired in debt and BPC paid for the debt in shares which the owner is now dumping at a rate of knots and will counter any good news in the near term and right up to spud for P1. Taking on board a guy who is to look over our BOD
(although they seem to need some looking over) who some on hear are tipping as the next CEO. Scuppering the share price and screwing all the ones who voted for the merger and voted not to merge, like myself, including LTH. Boy what a great deal.

Could it not be said that any positive RNS in the short term which lifts the SP out of the mud only result in further dumping at a faster rate setting the SP back where it is now or lower.

.... re. the SP and it could be weeks before this drip, drip selling is complete and what then, are we waiting for Stena to come sailing in and save the day with a partnership, farm in or whatever. What do you say Star, is this trend something you really anticipated before the merger?
Is BPC already forking out to make up Trinity's sells below 2p I wonder.

minimil, I think the original question from Obadiha related to shipping the oil not the quality of it,

Minimil, I know the oil from Liverpool bay was highly contaminated with Methyl Mercaptan and I think it was Chevron that took the first load which caused a lot of problems for them as it contained a lot more than just oil.
As far as I know the anchored buoy method of transfer is tried and tested but other than Liverpool bay I have never been involved with this. Liverpool bay did have some problems but these should not be reflected in our operation.

There are many ways of passing the oil on when it is extracted depending on the depth of water In our case it could be that the oil is loaded onto an FPSO where the oil is partly processed before being loaded to tankers. Another method would be to have an umbilical secured to a floating buoy where tankers can hook up and take the oil on board. This method was used on the Liverpool Bay project taking production from the Douglas platform and the Satellite platforms Hamilton and Hamilton North I suppose both methods could be said to be selling oil off the back of a boat.

Ibiza, when the drill enters the pay zone which could be after a few thousand feet of drilling then the picture will become clearer to the technicians monitoring the well as it progresses and the BPC company man based on the rig.

Star, the rig will not set out for home until the well is complete, sub sea well head installed(successful drill) plugged(unsuccessful drill) during well testing any information such as you ask about will be regarded as "tight hole" secret until results can be analysed, samples whisked away to a lab. I have worked in situations like this before.

As I said Ibiza I do not know the well design or TD of the drill and the ROP can vary greatly such as drilling in limestone can greatly reduce the ROP.
During drilling there are many operations where drilling stops altogether such as when running casing, cementing and bit changes to mention a few. Even after TD is reached there is much to do before completion. The well will take weeks to drill and complete.

Just to add that I am sure the well with be directional so when the bit enters the "pay zone" bottom hole pressures could change and drilling fluid weight adjusted but much more drilling will take place to TD. I think the company will have some idea of the value by then.

Ibiza, as per my experience the top hole will be drilled using a 24"/36" rock bit down to a predetermined depth as per the well design which as you may understand I am not privy to, this first drill is usually a few hundred feet and can, depending on the geology be the most dangerous as the hole is not yet cased and the BOP not installed.
The conductor liner will then be run and cemented in. From here a number of different size drill bits will e used and the various size casings installed and cemented. All the time the hole is monitored and many things will determine the ROP(rate of penetration), loss of circulation of the drilling fluids can be a big problem.
When TD is reached then I believe the production string will be run and perforated.
Well testing should then commence over a period of time. All through this time from spud to completion various companies will have been involved in the process and tons of materials used.
It is not possible to say how long in total it will take to reveal our, hopefully, success as it does depend on many imponderables

Tiburn, not sure I understand your last paragraph but it is likely that MWD and LWD will form the logging operations especially if/when the horizontal section of the well commences with instruments forming part of the BHA(bottom hole assembly) there is not much change out of US$1.5 million for this set up.
Curtsey of Wikipedia this is a overview of MWD and LWD. hope it does not bore you.

In the 1970s, a new approach to wireline logging was introduced in the form of logging while drilling (LWD). This technique provides similar well information to conventional wireline logging but instead of sensors being lowered into the well at the end of wireline cable, the sensors are integrated into the drill string and the measurements are made in real-time, whilst the well is being drilled. This allows drilling engineers and geologists to quickly obtain information such as porosity, resistivity, hole direction and weight-on-bit and they can use this information to make immediate decisions about the future of the well and the direction of drilling.[25]

In LWD, measured data is transmitted to the surface in real time via pressure pulses in the well's mud fluid column. This mud telemetry method provides a bandwidth of less than 10 bits per second, although, as drilling through rock is a fairly slow process, data compression techniques mean that this is an ample bandwidth for real-time delivery of information. A higher sample rate of data is recorded into memory and retrieved when the drillstring is withdrawn at bit changes. High-definition downhole and subsurface information is available through networked or wired drillpipe that deliver memory quality data in real time.[26]

Give was the wrong word for me to use but look at the excise price, 7p,and look at todays close, nice one!

Thanks for the details you have given in4, but the reason I ask is that BPC went into this deal it seems to give some sort of foundation to the merged company i.e. that oil production from the CERP wells . But if, as I have suspected we have taken on board a liability instead of an asset then where will we stand if PS 1 is a duster, surely we are left with a loss making operation and where is the sense in that.
My question is WHEN do we see some cash in the bank from oil production. I cannot believe that the BOD have not come up with a time when oil revenue ex. PS1 will appear positive, when they carried out due diligence

Irene, I thought we were now a company receiving revenue for the oil we sell, if the CERP bit worries you I was just distinguishing between the two for this question. I am well aware we are now a producer as well as a wildcatter are you?