RE: Trinidad & Suriname27 Dec 2019 23:26
LayLadyLay - Bamps clearly has more relevant knowledge than you - he was, of course, referring to FRM-1.
You only have to refer to CERP rns 19/03/2018 to verify the information as well as salivate over the terms of the renegotiated deal struck by our new CEO!
Here are some excerpts from the rns ‘ The only deep ONSHORE well FRM-1 , drilled directionally in 2008 to a measured depth of 12,301 feet, found oilshows in the Lower Cruse and Lengua formations at a 10,180 feet sub-sea true vertical depth.
‘ The regionally significant Herrera Sandstone formation was not reached in the FRM-1 well. The on-trend structures offshore at Soldado have yielded major oil fields in excess of 200 million barrels and it is Columbus’s view THAT SIMILAR STRUCTURES MAY BE ONSHORE BENEATH THE SWP.’
Drilling thar deep is costly for CERP so LK has gone for the affordable and lower risk option at Saffron with, seemingly 3 separate completion options which he is going to some trouble to preserve so that they can all be exploited at commercially appropriate times.
I believe they do have eyes on the big prize but exploiting Saffron will, hopefully considerably assist the cash availability and will justify further forays on SWP so that infrastructure can be put in place to cope with the higher expected flows.
LayLadyLay I have always suspected you were myopic, the Soldado platforms can be seen clearly without binocular assistance from the beach !
I expect most CERP investors believe SWP has potential to tap into the heavier oil deposits associated with the offshore drilling and your extract from Texas merely talks about Cruse - it doesn’t rule out the possibility of lower deposits so I’m not sure why you keep wheeling it out !
No matter what your hunch is about deep drilling CERP will go about it’s business with the ultimate objective of exploring deeper structures on SWP - yes it’s a risk and those with an appetite for risk in line with a Post Office Book shouldn’t be buying shares in it as neither me, Bamps or CERP are guaranteeing success ! There are plenty of examples of people from up north having legendary entrepreneurial spirit - what is the matter with you ?
Harel - you may not understand some of the references- what I’m saying is LayLadyLay Is predisposed to hide his cash under the mattress rather than risk it on creating say a kibbutz but he still chooses to worry about the progress of the kibbutz even though he has no financial interest in it’s success or failure !
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