Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Do you believe the company fundamentals have changed LGO.. I’m assuming it’s not a negative change if you have, is that part of the reason behind the discontent to the share price and Schroeder’s selling?
WTAF!!!! Fishy is regarded is in the top 6 of rampers!!
I’m throughly disappointed with myself with a placement of #49 :(
http://******************/rampchecker/rampcheckbytidm.php?search=CERP
:D
They could continue selling..
08-10-2018 - 96,000,000 shares held (12.641%).
26-09-2019 - 116,428,571 Shares held (13.977%) they held higher amounts.
12-02-2020 - 93,278,571 shares held (10.996%).
Be reassured that Schroeders are FCA approved.
Aren’t Rampers and derampers cut from the same cloth, One can’t live without the other.
There are three types of irony: verbal, situational and dramatic.
‘Say what ya see’
I love playing Catchphrase :D
Dunno LGO, I don’t see it any different to multiples of holders or traders selling... it’s their holding/strategy, not mine.
8,500,000 To be precise :D
Approx 1.5m a week or 3 x 500k a week, As per previous offloading?
I’m glad you are on the ball Chesh ;)
Percentage has dropped but the number of shares they hold from the previous notification remains the same.
True that LLL, the CO2 is only worth the success of what oil it can push out, minus contractual obligations.
A bonus for CERP though if they don’t opt to purchase.
Originally, PRD were brought in to TI to complete Steel drums minimum drill commitments linked to the licence and for what ever reason they were not completed the cost of drilling would have been deducted from the purchase price but a new plan was put forward..
After evaluating the potential returns with drilling new wells in an ageing field that has experienced a big water flood and the known high decline rates in the Herrera sands it was deemed more economically beneficial for the company and shareholders to trail CO2 recovery which required amending the WPA and the IPSC minimum work commitments.
CERP are conducting water flood trials on another field so they would have been helpful in applications for environmental approvals they hold a lot of local knowledge and well data to implement such a trial too.
I think you find it’s beneficial on both parts Zebra.
Prd are not a proven or existing oil and gas operator nor do they generate any cash flow ( at present ) hence the requirement for a WPA. The concern for me would be it’s dependency on WPAs and multiple JVs...PRD would end up doing all the work and supply to then give a free carry for the field operator.
The purchase of FRAM (imo) would compliment it’s existing cash and potential commercial oil sales from the Saffron well. It would help CERP in its potential developments in the SWP and anywhere else they’d please, although it would lose ~180bopd from TI (which probably only wipes it nose) nor will they take further field commitments tied to licence renewals, hence why it’s ideal for PRD and it’s CO2 injection.
Massy are the only supplier of CO2 and the JV with PRD ensures it’s the only company to implement CO2 recovery.
I’m pretty sure CERP have made it clear that CO2 is not viable in Goudron due to its geology with that being backed up by PRD indicating ideal sand packages ie Herrera sands found in Moruga, TI and Barrackpore.
To note Cory Moruga was withdrawn from the PRD SPA by CERP.
There’s just a few sticky points on how PRD will expand it’s CO2 operations and Business sustainability (I’m currently holding the view PRD are seeking a similar strategy to CERP with the Goudron field in regards to covering its business costs).
The knowledge and experience of installation and operation of CO2 injection is limited to Fram field staff and massy yard staff (Massy sourced, constructed tested the field equipment before field installation).For a new field development at present CERP would have to potentially be involvement in any potential new CO2 targets and take some of the profitable barrels.
PRD depend on historic CAPEX spend from Fram to gain a 100% return on its CO2 investment. Fram wouldn’t be able to offset some of the CO2 investment until the next financial year 2020-2021.
PRD would also acquire additional field production outside the WPA for CO2 trials upon its Fram purchase and CERP will have a reduction in company operating costs.
The original SPA stated that in the event that the two drill targets were not completed the costs of drilling would be deducted from the arranged purchase price, with the renegotiation of the IPSC and WPA I believe it has now changed to the implementation of CO2 injection.
What’s the score with Massy and their field?
Massy is who has the JV to supply the CO2 for TI.
Is there a possibility that PRD could expand their CO2 project from Trinity with their JV partner to supply CO2 (MASSY) on to The Moruga West Field as it is classified as a mature field and a Waterflood Project was implemented in 2013?
I highly recommend reading the PRD Admission notice. What’s the point of having a SPA anyway?
Keen as Mustard! :D