Member Info for harel

Still here..
Sold out last year, got in back again a month ago at 5p, hopefully they will get the f.o done this time, in the meanwhile we have the divis and filings to keep i3e attractive.

18000 barrels produced in 180 days, thats 100 barrels a day, its nothing.
it is wn or bust, but wn looks good and a good ewt outcome can rerate rbd to over 1p.
they will probably inform when the ewt operations begins, how long it will take, i guess about 6-8 weeks, so results around may.

https://oilnow.gy/featured/fifty-seven-days-later-search-for-oil-at-bulletwood-1-continues/

Will remain on site till 15.3.

Mariners notice

You are a very talented investor don.
GLA

Tried to link the pdf file, didnt work..
Its a valuation done by hannah&partners and the information regarding tanager-1 is as relevant as jhi through the cataleya holdings.
Btw, the valuation is 4nis a share, its now 1.25nis.

Tanager
The Tanager well was drilled to a total depth of 7,633m in a water depth of
2,900m. The well results were announced on 17th November, as an oil discovery
that is non-commercial on a standalone basis. The discovery is close to Exxon’s
Ranger discovery on the Staebroek block and there are a number of derisked
prospects on the Kaieteur block, which means that there is a strong chance that
this area could be a hub for an FPSO development.
The well was successful in proving that the source kitchen exists on the block and
there is a substantial working oil system present. The well found much more
sandstone and of a higher quality than expected in the entire prospective section
and in particular in the Maastrichtian reservoir target: 16m of net oil pay was
encountered in an interval which had a pre-drill best case gross prospective
resource of 37.5mmbl. This was based on a Best Estimate of 8m of net pay.
According to the updated CPR, Tanager is now estimated to be a 65.3mmbbl oil
discovery (2C) in the mid-case (“Best Estimate”), almost double the pre-drill
estimate for the interval and in line with our post-drill estimate of 50-100mmbbl.
The High Case (3C) is 131mmbbl. Part of the discovery lies on the neighbouring
Staebroek block, also operated by Exxon, which would be beneficial and simplify
any development. The 2C resource that lies on the Kaieteur block is 43mmbbl
gross or 10.7mmbbl net to Ratio.
There were several stacked deeper targets in the Santonian and Turonian
intervals where high quality reservoirs (>400m of sandstones) were encountered,
and reservoir fluids were found but it has not been established what fluids were
encountered and further analysis is still being carried out. The reason that these
prospects were unsuccessful was likely due to the structural trapping mechanism
failing and the oil migrating up to the Maastrichtian. As a result, it appears that
the trap integrity risk has been increased for some of the deeper targets in the new
CPR.

Another big buy popped up from today, mm might be playing with the price to accomodate these buys orders.
I wondered why the price went down today with micro sells.

rob, looks like you were right, back to normal today..
crossing fingers.. news imminent..

Very scary,
Eather a normal red day scared some investors that something leaked and so the large sells or its a leak.
If we get an rns tommorrow morning its not good news.
Lets hope well have a stable day tommorrow with no news.

Their position is quite good, just raised 22m$ through warrants exercise, but it was a dream that failed and the market punishes.
Maby they will strike at surinam, results in two months.

The updated cpr is out..
Best estimate is up from 2.1 billion boe to 2.750 billion boe.
Kingfisher is the most interesting prospect with 450m boe and 52% cos, its right next to tanager.
Tanager is a 65m boe discovery, 1/3 extends to stabroek.

cgx/eco for those who cant wait.

Thats the last operational update rns from ratio petroleum:

https://maya.tase.co.il/reports/details/1345225

The new kaieteur updated cpr will be released on monday,

i geusstimate 3 billion of prospective barrels mainly in the mastritchlan.

They have dhi on seismic so the oil is there and most likely in commercial amount, the risk at bulletwood as i see it is the quality of the oil.
The result of the tanager-1 well in the matrichian interval which encountered 20°api suggests that the sands in the source rock carries a risk of not fully saturated.
Yet, bulletwood is closer to lisa and the other discoveries made in stabroek and 20°api is still of great quality in regard to the flow of the oil and the value that equals brent oil.

While the markets went up all year in the tech and renewables sectors the oil and gas sector fell so now that oil is recovering im not worried.

I wrote a post about bpc's fair value, i didnt do it to annoy pi's that already are down but to open the eyes to investors such as yourself, you took a hit and want to recover, instead of going back to 2p here you will loose more money here, take rbd for example, just made the biggest on shore discovery in england just next to existing infrastructure and still hasnt rerate, waiting for ewt and updated cpr, will surely double or triple in the coming months and that is just one example, there are many small caps even more undervalued but that is for investors to research.

No point talking about the share price but on mc.
The bahamas blocks value is 0, there will never be another drill or farm out, that is over, i hope the pi's understand that, that was a one shot bet and the rns is one of the worst result rns that could be imagined.
So bpc, or should it be changed to tpc, is left with the cerp assets.
Cerp's value was less then 20m pound most of the time and that is the fair value for bpc, if they will advance with funds and operations that vould create more value but it will take years to get to current mc.
Good luck in the future, try to research more small caps so youll learn about much better companies with much better assets and production base that are valued less then this dead dog, or dont and keep posting ramping bs, your choice.

Got an email response from the company earlier today so i based my post on that:

I suspect the plan has always been to deploy the Stena Carron to drill a well on Stabroek, after Bulletwood-1, before returning to drill Jabillo-1. With Sapote-1 scheduled to be drilled using Stena DrillMax later in the year. 

From the operator's perspective this would be a normal and sensible deployment of the drill ship - as drilling 'back to back' wells runs the risk of not giving the subsurface team sufficient time to incorporate the learnings from the first well into selecting the specific location of the second.

the stena carron will move to kribote-1 and then back to canje to drill jabillo-1, the stena drill max will drill the sapote well later this year.