Chesh - may I recommend you watch the film Great Expectations on YouTube on one of your days off - I thoroughly recommend the original black and white version - I believe it's one to the top ten films ever ( for old foggies) - great characters - some larger than life - a bit like on here LOL!
LLL - Bamps was invited to post on the ' non-nutters ' thread, 12bn and me slog it out on the other thread ( as naughty 12bn was banned from it and created his own ! ) I'm prepared to debate with all sorts and I'm looking forward to cerebral exchanges with Bamps as well as dealing with negative non shareholding trolls like yourself.
I enjoy my exchanges with 12bn - it's a form of community service and it hones my skills having to deal with such a bigot - he's recently stimulated me to publish NYMEX oil future prices to demonstrate that there is plenty of confidence in the market going forward for the next 2 years that oil will sustain $35 per barrel - people don't have to just take my word for it !
Gr8EXPECTORATIONS - interesting first post - are you Irene's mum by any chance LOL!
Magoo makes the simple point very often that the non invested trolls seem to have much more to say when the SP is in the ascendancy and that they have been very wrong about this share very often, including Irene predicting 0 bopd for Saffron - the real result for SHAREHOLDERS was the intelligence gathered which was strong enough to convince the drilling team to finance and assume the risk of Saffron 2 !
RE: Expansion Expansion Expansion29 May 2020 07:18
LexLucre/ LLL - Scanned yesterdays posts and noticed you both had emergency Pampers deliveries seemingly in reaction to the latest Saffron drilling rns!
If, as non shareholders, the absence of recent production information is such a worry for you I'm surprised as long term trolls you didn't consult the Trinidad MEEI government production statistics. As you know CERP contributes more than 75% of the IPSC section so it can be seen that production is pretty stable.
As LLL knows very well LK decided to limit CapEx on Goudron pending a new contract which we are told, in rns, is likely soon. That production at Goudron appears to have been maintained without new drilling suggests pilot water flood is likely to be helping pressure at the field which augurs well for the future don't you think?
The production levels and prices suggest to me that when accounts are issued there will be heavy losses shown and I find myself agreeing with Irene that they will be backward looking because the real story, which LLL even appears on board with now, is development at SWP. CERP have plenty of cash at the bank but outgoings will continue to exceed income for some while into the future and I wouldn't be surprised if further capital was raised to fund development over the next 12 months in many areas, for example I'm expecting new Goudron contract will include MWO!
Hope this helps, and just in case you're wondering if I'm bothered about any extra shares being issued as a result of Predator exercising the TI option for over $4 million let me put your mind at rest - I'm not - and I'm surprised if you think ANY SHAREHOLDERS are !
Krapper - that 0 bopd prediction really was a schoolboy error, the more experienced trolls neatly sidestepped that one. The final countdown hasn't happened yet but we do know oil has been sold from Saffron 1 so we know you're the only one wrong at the moment - good call Krapper ROFLMAO!
Krapper just wants to everyone to be as bad at forecasting as he is - schoolboy error with 0 bopd - the more experienced trolls didn't fall into his trap - only one caught was Krapper - hoist by his own petard!
Good point Chesh - Irene why not charge the Saffron 2 drill financiers a fee for persuading them not to drill based on your, ahem, clearly thought out 0 bopd projection, make sure you don't mention anything technical though and persuade them that the Saffron 1 experience wasn't of any value!
Bully - BTW news flow management is important to CERP and LK rightly concentrated on SWP and that resulted in a positive impact on SP after a poor spell - as we wait for more information on Saffron there is negative pressure from Schroder / Lind selling - management have said they are reviewing that issue - I could speculate that development at Goudron may well be part of that plan - tenterhooks shaking !
Bully - soon after LK took over he achieved a company wide target of 1000 bopd but this focussed him on production costs and profitability and subsequently he advised that he would not be prioritising CapEx on Goudron because the contract was due for renewal and he hoped to improve on terms. We've had rns recently indicating a new deal is imminent.
In the run up period to IPSC renewal the pilot water flood has operated and although increased production has not been apparent that suggests a positive result to me as production has broadly been maintained at Goudron whereas without it pressures are likely to have dropped and monthly numbers would have expected to gradually decline.
When the renewal rns is issued I expect LK to publish a report on Goudron operations and future development plans - I expect he will have offered some CapEx on the field as part of the negotiation with Heritage as they need an operator who will develop the field and may have offered improved royalty rates in exchange for a schedule of Minimum Work Obligations.
The above is speculation on my part but I make no apologies for it, in the absence of actual news, facts are expected imminently.
BTW the pilot water flood has been low cost, using on site water sources. Ramping this would require more creative and costly supplies of water - will that happen - watch this space !
Krapper - Bully may or may not be proved right with his speculation for 2021 - you've already been proved wrong in 2020 - who would have been foolish enough to forecast 0 bopd with all that technical information to hand pre drill - Krapper ROFLMAO!
Bamps - good to see an even handed approach to Follybean- deified and denigrated in one post - hope his grandchildren appreciate the lengths he goes to for their benefit - better off applying his sand expertise building castles with them - virus permitting!
Dross - of course the real winners were those who stuck with their shares when trolls were urging sale at 1p - who would have thought the drilling company would be so confident about prospects in SWP they would finance and take on the risks of the next drill by themselves!
Follybean - why not select an investment for your grandchildren that you have personal confidence in rather than one you appear to want to troll to get a lower entry price - you're clearly not very good at it and this type of bullshyte can be damaging to young minds grandad!