Member Info for in4cedros

Sugar - as you and I have discussed previously the Trinidad Government MEEI stats cover ISPC deals such as Goudron so you can see the production month by month as CERP supplies a very large part of the total column. The 1000 bopd historical figure was a long time ago and Koot only did it to prove it was possible otherwise trolls like Krapper would have been presented with a stick for the ceremonial beating!

Thanks Chesh - pleasure to amuse you - I doubt Krapper will respond without help LOL!

Krapper - whilst we wait for the example of a positive post from you I'll respond to your question ' what did you think of the ' production of between 400 to 450 barrels ( bopd ) ' mentioned in the rns , which is less than when Oopsie took over 3 years ago ?'

Krapper the production referred to is largely from Goudron field - Koot analysed the situation at Goudron , based on the production agreement with Trinidad Government body and decided that CapEx on that field should be limited because the company had alternative sites where potential was FAR GREATER ( such as SWP Saffron ) . That said Koot managed to keep Goudron ticking over by installing innovative new pumps , work - overs and continuing the water flood Pilots Koot instigated. Without management the bopd at Goudron would probably have slipped back to the circa 100 bopd level at which LGO took over.

During his term Koot has been renegotiating the Goudron deal with Trindad Government - they want more production Koot has argued the field is problematic and needs more reward per bopd to justify CapEx. We await the result of that negotiation - in the meantime resources were applied to SWP development where the licence terms justify CapEx.

Re SWP you have not accepted the company's technical independently sourced data on potential and consequently predicted that Saffron drill would produce no oil whatsoever- despite the reasonable Pre- drill COS! Saffron drill was problematic but is producing oil and has potential for much more but MORE IMPORTANTLY showed that the higher yielding area could be successfully accessed ( that's why the Saffron 1 drill team offered to drill Saffron 2 at their risk and cost - resulting in doubling of SP !)

The potential from SWP drilling is the basis for the increased production forecast for the future mentioned in the latest BPC rns.

You have carped at Koot throughout his tenure but you've never come up with your own idea for what he should have done and your inability to understand the potential of the SWP just shows your ignorance against independent experts. If you ever came up with some research or technical information to support your negativity people might have some regard for your opinion - we've had a couple of long term trolls on CERP who did at least come up with challenging questions backed by research and people did give their thoughts consideration but your best shot seems to have been to continually ask posters to forecast future production targets - at least the latest BPC rns has given you that information - why not explain why you don't think that's achievable using all your oil and gas exploration and production knowledge ?

I've posted this as I don't know if Starchild has followed the development of CERP as closely as you and I have over the years.

Chesh - both boob men - knew I could rely on you for a link !

Mysteryguy - are you Peter Andre when you're not trading this ?

Loz - have a read of rns 26/05/2020 - ' if Stena fails to deliver a commencement notice by 01/11/2020 or if, following delivery of a commencement notice, Stena fails to provide the nominated drill rig, a penalty of $ 7.5 MILLION will become payable by Stena to BPC'.

Krapper - read the same rns - it refers to Investment Options for Stena up to $10 million for a 10% interest in the drill - I'm thinking Stena have seen the plans - their interest is optional - but clearly there have been discussions about it - you would probably be the only one surprised if they took a share !

Novice - those that know Krapper from CERP are aware her contribution to the argument is nil . Krapper had the same info as everyone else about Saffron but chose to predict it would produce 0 bopd - since that prediction, after an arduous, problematic drill Saffron produced but, more importantly, Saffron
2 was offered to be drilled at risk and expense of the Saffron 1 drill team - this led to doubling of SP which Krapper didn't predict!

Krapper should be banned for inducing boredom but no danger to investors as incapable of putting up an original argument!

Krapper- even if these claims were made directly by the company I doubt you would accept them as valid, based on past performance! You had all the geological and technical data about Saffron, including COS, prior to the drill, yet opined that it would not produce any barrels of oil!

The trolls from CERP have long standing agendas which most refuse to explain and some, including Krapper, filter me, which I love, because I always have the last word!

Dross - ' it was continually educational ' - agreed - reading your posts brought back memories of Joseph Goebbels ' repeat a lie often enough and it becomes the truth ' don't know whether you consciously used his MO or you came to the same conclusion independently - result was the same multiple moronic propaganda - skulked away when your lie was exposed !

Dross - many thanks for your intervention at this late stage - you are capable of putting up some interesting arguments at times but history shows you spent a huge slice of LK's reign attempting to undermine him by posting multiple times per day that he was lying about not being able to drill Saffron without a PLACING. When you were proved wrong you slunk back to your hole and have only recently reappeared in the guise of hero of CERP shareholders claiming that LK has sold the company too cheaply.

You may be right about that but it's rather late for you to have suddenly recognised that CERP have wonderful assets that should be fully exploited by the BOD - where was your confidence in Saffron that inspired you to low ball the sweepstake - where are your posts talking up the value of TI where PRD have recently bid $1.75million ?

It's not immediately obvious to me why LK chose this merger but neither is your motivation to involve yourself at this late stage!

Chesh - Touché!

Chesh - rapier like today !

Starchild - re PRD director shareholdings they were over 50% at the IPO but have reduced as cash has been raised for projects increasing shares in issue - now around 25% but stlii a good wedge - apologies for quoting the old figure earlier!

Chesh - apart from putting the cat amongst the pigeons at CERP BOD that cheeky bid certainly surprised me but probably surprised serial doubter LayLady Lay even more - remember all those tedious posts ?

Wolf - the timing is interesting, an earlier intervention would almost certainly have given voters a lot more to consider.

Bully - levels of excitement are very much matters of opinion- personally I'm very keen on the idea of using unwanted CO2 in this innovative way on Trinidad!

Starchild - unlike CERP or BPC BOD at PRD have circa 50% shareholding so anyone wanting to take them over needs to be very accommodating !

sugardaddy - CERP are just keeping Goudron ticking over with minimum expenditure - IMO this is a tribute to water flood pilot scheme keeping up pressure as if these wells had just been left to naturally produce for such a prolonged period the numbers could have dropped hundreds of bopd - you'll note the monthly figs are pretty constant so unlikely IMO to suddenly drop off a cliff in June.

As I've said before CERP financials are poor using Goudron as main production and expenses with new drilling at Saffron will worsen financials further so I see why CERP aren't keen to publish prior to merger as headline loss could frighten some voters however the BPC board won't be surprised at the numbers cos if I can work it out they surely can . CERP is, IMO , all about potential , it's got plenty and a huge level of management expense will be saved post merger with LK holding it altogether with the aid of the run off consultancies.

sugardaddy - it's on page 6 of 24 - Table 1A - column 6 - HPCL ( IPSC) - very comprehensive figures over a long period are available- that particular presentation relates only to this year to May . CERP IPSC cover around 75% of the Trinidad IPSC market so the figs give a good indication of likely Goudron output,broadly stable. CERP have told us they are not applying development funds to these fields at the moment ( particularly as new deal has yet to be signed off, says me !) .

Hope that helps - loads of arguments for and against merger but lack of production info not very important to me as the MEEI stats have, historically, been a good guide! We've had some nasty trolls on here over the years trying to deramp this based on suggestions of problems with production, particularly after the quarterly update was ditched but they found it hard to dispute Trinidad MEEI stats after my kind introduction.

sugardaddy - have a look at MEEI Trinidad for fairly recent production update ISPC - it's largely Goudron - production from Saffron and other areas probably doesn't amount to a hugely significant amount, at the moment !