Member Info for LGO-fan

it must be wonderful to be so gifted like you are, and to be blessed with the power of foresight. Why don't you delight us with some of your wonderful investment decisions you have made in the past. We are always looking to add more beauties to our portfolio. Your wisdom is beyond compare, so surely an easy one for you

https://www.bloomberg.com/news/articles/2018-04-17/oil-halts-slide-as-opec-hints-at-production-cut-deal-extension Two factors are helping the POO: 1. Crude inventories down in US 2. Opec discussing extension of production cuts in June

so....are we talking average monthly bopd, peak bopd, qtly av bopd, FY av bopd :-)....lots of options here and something LK should clarify at the next opportunity, IMO.

I agree, certainly now that we can expect increases production from Bonasse in Q2 and hopefully soon enough from Icacos too. That seriously derisks the forecast. WF was never expected to deliver before end Q2 I believe. Garn made that clear to me.

pulling your leg, mate (or, am I really? haha) Think progress is actually quite impressive. In Q2 we should start seeing bigger increases in bopd. Personally, I am more keen to see a more detailed action plan on SWP. That will be very exciting!

GROUNDHOG DAY!!!! You are not going to post this everyday, right? Please......lol

Well said! Throw in a potential mcap-transformative M&A-deal, a bopd of 1000-1600 and we’re laughing!!

Nice, little acquisition! Another building block that further derisks this financial year, and could potentially provide some further upsides. Very much like the way this deal has been structured.

So, it seems the Russians will retaliate with Cyberwar in response to the US, UK, Fr air strikes. 2000% more trolls will be deployed. Can’t imagine this B.B. being even more under attack than it usually is. So, yep: we finally know our residing trolls have Russian masters, lol !!

wonder why certain sh’s give up on this B.B.! If we are now going to have to sponsor trolls!!!! Sadomasochistic, is what I call this. Duh. Happy Friday all!!!

keep an eye on this :-) Looking very good!!!

old extract I found on line while ago: "Persad says he wants to rehabilitate 4-5 existing wells and perhaps drill 3-5 new ones, �in order to get the very low production at Bonasse up to at least 75-100 b/d, with my goal being 150/300 b/d, if I can get it.� I think that gives an idea of what reactivation may achieve with the same Goudron style bang for buck investment approach. Based on that, I would assume anywhere between 75-200 bopd. Of course, the big price would be the more deeper wells. They above excludes that.

Is in the RNS, but it got lost in the detail of it. the upfront summary could have been clearer but all is in the RNS. In short: -they achieved peak production demonstrating the high case bopd is achievable -they missed base (average) production in Jan, overachieved in Feb and met it in March. There really is no issue. Production in Q1 2018 was as follows: � January oil production: average of 427 BOPD. Base target: 501 BOPD � February oil production: average of 541 BOPD. Base target: 506 BOPD � March oil production: average of 542 BOPD. Base target: 542 BOPD � Peak production: 627 BOPD, demonstrating High Case potential is achievable as legacy and technical issues continue to be addressed.

fair comment!

this got a bit lost in the RNS: " reactivation of the Bonasse oilfield and further analysis of the 3D seismic and other data to identify our first prospect to be drilled, potentially in H1 2019."

they are in line with the high-low production targets they issues. Mind you, they did not communicate average production targets.

Goup, you are bang on. "Koots is rebuilding the shambles of a bombed out LGO". And, he is doing a brilliant job at it. In a way, Koot, is a bit a victim of the confidence he is beaming at each interview. It is the man's style, nature, and after LGO - I think each SH needed that. May-be that is causing a lot of the over optimistic (read unrealistic) expectations. But it is also down to all SHs to use their brain power a bit more (no offense. I included myself in that). How many times, have we had debates here on this BB about unrealistic expectations? Also, CERP - unlike LGO - is no longer about Goudron (which by the way is great given the financial limitations of a IPSC), it is now about SWP (PPL - we are 100% owner). So, we should be obsessed about CF generation from Goudron (and now Bonasse) to attack the big transformative growth. And no longer BOPD only. The progress is there - faster and better than we could have dreamed of with the "previous operator".

I think there has been a lot of confusion between average monthly bopd and peak production numbers as shown on the low and high end forecasts as shared by CERP in Dec 17. When focusing on peak numbers only, averages will always look a bit disappointing. That’s just a normal reaction IMO. The team is doing a great job and making substantial progress.

from that other board; arrynillson: Good to see the locals trying to keep the Spanish Oilfield in the public eye - I did warn the local bar manager that putting up a picture of Rossannan ( Serial denier of potential value in Spain ) wasn't likely to be good for business - even though he assured me it would only be used for darts!! lol

agree. Peeps taking everything LK says a bit too literal. Starting a bit to be like The Life of Bryan: “Only the real Messiah would say he is not the Messiah!” Keep it real, guys, and let the team do it’s work. All will be well; in good time.