Member Info for LTID

Hi William just be careful Irene doesn't try to groom you as for BP these two companys are very similar in that they both produce oil.

Don't you just love it when she,s so responsive

Saffron 1 was never planned as a production well always an exploration well until they found oil at only 450'.
3 zones in the Middle Cruse with one having a gross pay of 1,000' interval 4 with minor sand migration ( a big plus) and 60 wells planned.
The MC is over pressured at 0.6psi and at those depths is very high.
Pressures increase the deeper the layers at about 1lb per foot in rock and less with water e.g. undersea.
The Lower Cruse had the issues with moving shales only 2 x 8' zones perforated but had an API of 40, that's fantastic, over 300' still to perforate of "open" flowing sands.
The 2 zones 5&6 had pressures of 0.7 & 0.9 psi. As i understand it a pressure at that depth is very high and should flow unaided for a long time.
This well has given Cerp so much potential for future growth and the economics make it potentially far better than sub sea plays.

Chess what's all this re zero figure about

Saffron - The Pmean STOIIP for the Lower Cruse 77mmbbl, with recoverable volumes from a development of 11.5mmbbl. NPV10 circa US$88m. This prospectivity has been validated by EPI Group, the independent geological and geophysical consultancy company. 25 sept 2019. Saffron 1 recovered 40° API oil from lower cruise but exceptionally high pressures and drilling through the crumpled fault lines meant extra heavy drilling fluid was used which effected test results and the completion of the well in the lower cruise depths where the 40° API oil was recovered from.
Saffron 2 - to be drilled as a twin to Saffron 1, from the same drill pad. Saffron 2 to target the Lower Cruse intervals encountered in drilling Saffron 1, with a targeted Total Depth of 4557 feet. The key objective of Saffron 2 is an extended production test and subsequent conversion to a production well aimed to produce the circa 40° API oil encountered in Saffron 1.

Sorry Irene but I make it a rule of mine to " NOT TALK TO IDIOT'S"

Correction should read S1

It was never planned as a production well always an exploration well until they found oil at only 450'.
3 zones in the Middle Cruse with one having a gross pay of 1,000' interval 4 with minor sand migration ( a big plus) and 60 wells planned.
The MC is over pressured at 0.6psi and at those depths is very high.
Pressures increase the deeper the layers at about 1lb per foot in rock and less with water e.g. undersea.
The Lower Cruse had the issues with moving shales only 2 x 8' zones perforated but had an API of 40, that's fantastic, over 300' still to perforate of "open" flowing sands.
The 2 zones 5&6 had pressures of 0.7 & 0.9 psi. As i understand it a pressure at that depth is very high and should flow unaided for a long time.
This well has given Cerp so much potential for future growth and the economics make it potentially far better than sub sea plays.

Saffron - The Pmean STOIIP for the Lower Cruse 77mmbbl, with recoverable volumes from a development of 11.5mmbbl. NPV10 circa US$88m. This prospectivity has been validated by EPI Group, the independent geological and geophysical consultancy company. 25 sept 2019. Saffron 1 recovered 40° API oil from lower cruise but exceptionally high pressures and drilling through the crumpled fault lines meant extra heavy drilling fluid was used which effected test results and the completion of the well in the lower cruise depths where the 40° API oil was recovered from.
Saffron 2 - to be drilled as a twin to Saffron 1, from the same drill pad. Saffron 2 to target the Lower Cruse intervals encountered in drilling Saffron 1, with a targeted Total Depth of 4557 feet. The key objective of Saffron 2 is an extended production test and subsequent conversion to a production well aimed to produce the circa 40° API oil encountered in Saffron 1.

Does anyone remember the Clove well and what happened to it?

Saffron 2 - to be drilled as a twin to Saffron 1, from the same drill pad. Saffron 2 to target the Lower Cruse intervals encountered in drilling Saffron 1, with a targeted Total Depth of 4557 feet. The key objective of Saffron 2 is an extended production test and subsequent conversion to a production well aimed to produce the circa 40° API oil encountered in Saffron 1.

Leo Koot, Executive Chairman of Columbus, commented:

"We have found what we were looking for - the Saffron well has discovered oil in both the Lower Cruse and Middle Cruse formations in the South West Peninsula, onshore Trinidad. These discoveries are transformational for Columbus creating two valuable standalone field developments.

Our main pre-drill goal of establishing the existence of hydrocarbons in the Lower Cruse has been achieved, significantly de-risking what we expect will be an imminent Saffron field development. We achieved light, high quality oil flow to surface (circa 40° API) from two test intervals in the Lower Cruse. For operational reasons (including prudent cost management), our testing was deliberately limited to a combined perforation of 16' even though the logging of the Lower Cruse showed over 300 feet of high-quality sands. As such, we believe that the appraisal of the Lower Cruse, expected in Q3 2020, will be stage 1 of a Lower Cruse development that we now calculate has an NPV of circa US$90m.

I am particularly pleased to share with our investors and the market that, in order to fast track the appraisal/development of the Lower Cruse, we have signed a Term Sheet with a third party drilling contractor to drill a second well in the Lower Cruse, the same contractor who drilled the Saffron well. It is expected that the well will be drilled in Q3 2020, subject to a stabilised oil price (above US$35 for a sustained period) and operating environment. The well will be fully funded by that third party in return for a share of the production from Saffron 2.

The wider South West Peninsular - A risked portfolio has been generated consisting of over a dozen shallow and deep prospects and leads. These range in size from an estimated 20mmbbl up to 400mmbl

There was an interesting talk on " wake up to money" yesterday on radio 5 live should be able to get on catch up via BBC

https://www.sharesmagazine.co.uk/article/high-hopes-for-bahamas-petroleum-exploration-well

Hi euanmuir see bynari, s post at 01.19 this morning

Drill getting closer to the 1st stacked target & WTI above $50 " What's not to like."

One week from Monday could have 1st stacked target encountered IMO

And all the time we debate the pros & cons of this drill the first stacked target gets nearer.

Wow Trolls up early on a Sunday " Must be Worried"

Wow that's some target

That's some bathtub that Razor

My guess is Monday morning RNS