The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
You're welcome. I used to pop in on nutters thread from time to time and noticed Egg also bashing it out with 12bllx. Commend Arry and Egg for that.
Bamps, I wish you, Spangle, Twinkletoes and couple others would join JCG thread on ADVFN so much better and managed too. Arrys already there.
Havent looked at the link but South Erin was always thought of as high potential.
EDit, arry and a few others not art as iPhone auto changes too many words .
Good evening Bamps ,
I don’t much on here or anywhere anymore as other urgent things going on in life at present .
Just wanted to say thank you as I do read and catch up when time allows so thought I’d drop a post in to you to say thanks for all your hard work . I know peter well ( through correspondence) I hope he is ok .
This post is to thank you for all your research and hard work . It’s always pleasing to read and learn from your vast knowledge in the industry . There were posters before spangle and vmax also knowledgable too but don’t see much from them . So it’s a blessing you’re here . Art is also very clued up too.
I look forward to the time when we can meet in person hopefully at the next CERP event . So once again , thank you for all you do here .
Feel free to PM me if ever you pop in to JCG thread or pm my name on advfn .
ATB for now .
Good evening all and Vmax,
Nice to see you back as had noticed you were off here for a while. I can admit to being so far from an expert in oil industry, i am self employed sole trader, no expert in business world for sure. I just try to ask questions to the team and attend when i can and try get a little bit of a grasp on things.
I think we are most certainly undervalued with 91M NPV certainly not factored in.
Independent CPR but even if we were only valued at 50% of (saffron) that until CPR we would be ( Based on todays M.C of 18.8 M) roughly
50% 45m MC 4.5p
Todays MC 18.8m 2.1p
36MC 4.2
Just based on saffron alone. -25% IPSC for capex of S2.
We are very undervalued now thanks to S1 success.
1800PSI how many bopd 300-500bopd natural flow for 1-2 years before pump assisted? excellent API plus 12 more targets too.
Plus MC additions albeit lower and api but helpful none the less.
Totally agree with you about not fair value ( Even with additional shares).
Hi Aspers,
Yes, Lgo were as high as £1.38 from memory.
Morning Crixus, Doesnt sound like a bad plan now that Saffron has come in and come in good. I averaged down a lot but from higher prices than todays.
Morning Lanygeo, you're not alone mate,
I feel your pain, I also bought pre 20-1 at 4.6 3.9 in sipp mainly then and some cash but kept averaging down
i need 7.9 B/E cash and 0ver 40p SIPP im confident we can reclaim much of that in time.
“Pressures are so good from LC that the well should flow naturally for 1-2 years before requiring a pump “
My take on this is :
When Heritage took over after Petrotrin they were not the easiest to work with and so the relationship was off to a sticky start .
I believe they were to put pen to paper not long ago but in light of the recent disasters with CV-19 but , especially the most recent OPW causing exhaustative destruction of POO I think perhaps CERP want a better deal than the behind the scenes recent one they were close to signing ( hence the further extension ).
Also, If Goudron were a dead duck RE waterflood I really think they may have left it for dead as I don’t think they would want to keep pump stop clean,pump stop clean sands continuously with the remaining areas unless a really decent attractive offer was on the table to make it very viable to us. The oil is there, albeit balancing act for extraction I.e sand /oil .
It’s a complex licence for sure but, if they can get attractive T&Cs for it is as well as H and WF comes of age then the whole licence could be lucrative and very viable to CERP.
I would have like TH or Leo to have given a more comprehensive update across the whole company though . They do seem a little distant .
Couldn’t Tony or Leo do a media interview for us holders for some reassurance . ??
What’s with Saffron? I thought we would have results at the end of March ?
They said Flow testing had continued in LC workers still on site then.
I think tactically they should update ok each layer in LC IF the news is good .
Update in stages . If the news isn’t good then wait until we have MC to report on to at least show some success from the well.
If there is good news in LC for goodness sake report it to try and lift the SP and for potential new investors.
AIMHO of course .
Just another thought , maybe Heritage want to see what’s going to happen in the next three months with POO Saudi, Russia , USA , and CV-19 . They may not want to set prices too low just because of now yet things could improve and they don’t want to be out of pocket so are waiting for pen to paper to see if the newer lower range is for the foreseeable future or of prices will rebound .
We do need Goudron as it has been and still currently is our bread and butter until rejuvenation’s , workovers elsewhere can provide us some further backup.
We are over a bit of a barrel maybe and Heritage know that hence sticky part of the relationship .
A media interview right now wouldn’t go a miss , ( that’s if Leo TH et al haven’t been affect personally by CV-19 in which case I’d totally understand ).
If they haven’t then they need to do an interview , maybe with the Kiwi guy on Proactive Investors .
Aimho
My take on this is :
When Heritage took over after Petrotrin they were not the easiest to work with and so the relationship was off to a sticky start .
I believe they were to put pen to paper not long ago but in light of the recent disasters with CV-19 but , especially the most recent OPW causing exhaustative destruction of POO I think perhaps CERP want a better deal than the behind the scenes recent one they were close to signing ( hence the further extension ).
Also, If Goudron were a dead duck RE waterflood I really think they may have left it for dead as I don’t think they would want to keep pump stop clean,pump stop clean sands continuously with the remaining areas unless a really decent attractive offer was on the table to make it very viable to us. The oil is there, albeit balancing act for extraction I.e sand /oil .
It’s a complex licence for sure but, if they can get attractive T&Cs for it is as well as H and WF comes of age then the whole licence could be lucrative and very viable to CERP.
I would have like TH or Leo to have given a more comprehensive update across the whole company though . They do seem a little distant .
Couldn’t Tony or Leo do a media interview for us holders for some reassurance . ??
What’s with Saffron? I thought we would have results at the end of March ?
They said Flow testing had continued in LC workers still on site then.
I think tactically they should update ok each layer in LC IF the news is good .
Update in stages . If the news isn’t good then wait until we have MC to report on to at least show some success from the well.
If there is good news in LC for goodness sake report it to try and lift the SP and for potential new investors.
AIMHO of course .
Hi Oba et al.
Firstly my prayers go
Out to all who have lost someone due to this evil CV-19.
Massive thanks to NHS and all services / personnel
Involved .
Let’s give LK benefit of doubt too as we don’t know who s circumstances , maybe he is suffering or someone close so who knows he or other management could be suffering grief right now too. We
Just don’t know , maybe why he’s been so quiet maybe not.
Great post Obi and really hoping for update too as times are desperate for me to be honest .
Spain won’t support overseas buyers with mortgage holiday.
I’m self employed can’t earn to pay mortgage and bills.
High risk
I could lose my place there .
Can’t sell here as lost a fortune now with CERP lgo.
Other issues also
Ongoing with family issues health.
Still keeping positive as possible but times are a little desperate to say the least.
Please give us a positive update tomorrow .
Morning Razorman,
I agree.
I also wonder as LC has continued testing ,unaffected currently by C-19 , if positive results are encountered if they will announce this as previously stated by the end of March. Even if there are delays for all zone testing , I wonder if they would announce to try and boost CERP aittle in these critical times?
Is LK in T&T if not then flights are suspended for obvious reasons would further testing be postponed as he wanted to be present for this bit xant if he is with family back in Portugal ?
Many Thanks bamps
I’ll look in to hat more .
Most important though everyone stay safe
Hi fuzz
Does that help cover self employed because if it doesn’t I’m a tad fooked to say the least!!!
I really hope it does!!
Mornings Bamps
Thanks for your reply and appreciate what you have said.
I also agree about Saffron .
Hi Bamps,
Nice one, glad you received a reply . I didn’t on my last couple but that’s ok , it’s just good to know they are replying to some.
Are you able to post your reply here? Thanks if you can .
Morning ,
I sent an email yesterday to the company asking a few questions .
If I receive a reply I’ll let you know .
Morning Razorman,
Why don’t they just make that permanent .
How can shares be sold anyway that you don’t own.
When I called broker few years ago I could only sell shares that I owned Ian what they said .
Wouldn’t it be a fairer better transparent system if you could just buy and sell shares that you actually own ?
Morning Faz,
Agree with all of that . I’m in the same boat as you mate my average slightly higher on isa 7.6 but my sipp is about 40ish.
Leo , Tony, Gordon top draw. Thank god Leo Tony came along when they did , Gordon was already there but thanks to him for bringing Leo in. This company wouldn’t be in existence now had we not these guys in charge .
I’m same as you Faz, if CERP doesn’t work out then I’m gone for good .
I think we will weather the storm though.
Spot on Arry. Couldn’t have put that any better .
TXP are still higher than the 11-14p they languished at for eons. They also did 9m and more FR which would have been dilutive to shares in circa.
So even with all of that they Are still 100% up despite oil
Price war and C-19.
So if CERP make a DECENT discovery on Safforn , we should expect to still go up and hold higher supports than at current levels .
I’m sure saffron will be commercial , they have tanks .
Makes me wonder if when Leo said in a video on site that it was lovely he knew then something good was afoot.
So the time taken , the money spent , this would not be a duster non commercial for all of this . Leo concerting 12 or 17 m shares too big thumbs up for saffron imho.
Afternoon Bamps,
Yes agree, of course they expect oil and you’re right poo was higher but we will come out of this current turmoil with c-19 and POO. All Countries need high prices to benefit their daily outputs. We have been here before and again we will exit from this down period.
I have been mentioning today elsewhere why don’t buy buy on open market is my concern .
LK
GS
TH are multi millionaires and fair play to them for that , but to invest just a small amount from them on open market would Instill some confidence.
That’s my one gripe is why they are not buying on open market ? Are they still in a closed period and can’t ?? If no closed period then why don’t they have the confidence to buy on open market . ???