Member Info for ShouldveSold

I was expecting higher estimated flow rates from Saffron2. I hope Potter is trying a different strategy of now "under promising to over deliver".
That a lot of planned Wells though. It kind of feels like we have gone back to the old Ritson strategy of drill 4 Wells per pad.
Certainly feels rapid now. Lol

Saffron spud is now in May...

Suriname spud in July.
Now the projected bpd by year end is 1000-1500.
Let's see how well the market digests this news.
$3m for Saffron & $600k for Suriname are relatively cheap Wells though.
:)

I am trying to remember when I fully gave up reading any more Solo RNS and investing any more money in the company. Deciding to just stick this in the bottom drawer & sit on the paper loss to maybe check on it in 20 years time.
It may have been after the KW1 collapse. It was definitely when NR was still the CEO.
Either way the gaps in my knowledge of the recent history of the company is evident.
Joining this site has and reading the posts has re-ignited the gas flare.
So if I post something which was true 5 years ago but has changed in the last 2 years, its because I was playing with my belly button instead of keep up with the KiliwaniRitsons.

RE: mrc

Oh wow

RE: Tiburn

I will admit to making layman interpretations of the RNS's and to Ietting the market tell me whether its good or bad news.
My depth of knowledge doesn't change the result. With every RNS I read from what ever company always widens my knowledge base.

Indeed pilot exploration Wells are just that and field developments are planned around them when a discovery is made.
My layman interpretation of P#1 suggests another well at this location will not take place. Therefore another exploration Well in another location repeating the process would have to occur. Meaning 2 more Wells if a discovery is made in a new location.
Is that sound reasoning?

GarryGraham

Cheers Garry. I don't wanna sit with you just yet. I'm trying to shed my Darth Vader skin so people will read my posts with impartiality rather than dismissing every thing because they believe I'm from the dark side. Its gonna take awhile. If I sit with you, Piers will send the people who took Princess Diana out after me :(

RE: Tiburn

Being as I'm not gynecologist or petrophilliac I don't know if the data for P#1 means that will help with another drill target 1000miles away. Maybe that's what all those pretty colours indicate. And they can use them to compare with the seismic of the other targets to rule out bad drill locations.

RE: mrc

I don't believe there was ever a plan to fully develop all of the Tanz assets & see them right through to producing assets. I think it was about being an angel investor, prove a discovery, then sell their stake on to Major who has the resources to develop them. I think Solo just got caught holding the bag repeatedly because not many companies want to do business in Tanz.

RE: cperkin

:)
Thanks buddy

A lot of posts today debating for and against the W.P.S. I'm still on the fence with it. Until someone can provide a monetary value to it, to me its just a statement saying "its a good place to search for oil, because the correct conditions are in place here".

GarryGraham I do understand some of points you have made based on your reasoning. I agree with some of them. I wish you would use paragraphs to make it easier to digest lol, its a lot to read in one go.

Its all very well to argue the point that because the RNS said an "unsolicited approach" has been made, it means a company wants to buy in. But I think that approach was for exclusivity to view the data for a short period. Not for anything else.
Potter said BPC will renew the Farm In discussions. To me that means the companies who had their nose over the fence pre-drill will be presented with the data to see if it will change their minds.
If P#1 was commercial, I am sure the phone would be ringing off the hook. Being as it was not, I think this is the other way round and BPC has its cap in hand.
But the proof with be in the petrophysizzy pudding when it comes out the RNS oven.

Speaking of plans, what the hell happend to Ntorya 2 ????? Lol I had completely forgotten about it.

If anyone else can shed some light on this, please do.

RE: ArielArrow

Ah, l'll take your word for that. I knew Scirocco had the funds to pay for the Drill & Seismic. I didn't know that they had already paid....
With all the company name changes and listing, finding old RNS's is difficult.

RE: ArielArrow

•If you believe a Farm In or Sale will come this year. That will certainly raise the SP.
•Renewable, thats what I meant by buying  cash generative asset.
•HE1 drill starts in Q1-Q2 2022. Certainly news of the size & number of structures with found with the seismic results with estimated helium in place will blip Scirocco's SP up for a short period.
I don't know what Scirocco's cost is to fund their share of the seismic is. I do recall seeing the numbers somewhere but cannot find them.

RE: caddy1

NR had a plan. I don't know what plan was. I'm going to give him the benefit of the doubt & presume that he assumed that KW1 would have been in constant production from January 2014, followed by KW2, then by the Likondi oil & gas discovery. Together that would have given share holders a great return & cash flow to build the company.
I don't think he factored in the Tanz Government inability to do make decisions. He was spending money like Pablo Escobar.

RE: burningdown1side

Any RNS this year can only detail necessary capex, which doesn't change Scirocco's fundamentals.
I think the SP is locked in until Q1 2022. The only thing that will move the SP higher is news of buying into a current cash generating asset.

RE: Deltalo

I think the only news that can come in the next couple of weeks is the commencement of drilling. Because of the P#1 result and the financial situation the company now finds its self in, I would be very surprised if 2 active drilling campaigns are going to happen simultaneously.
I think Saffron spud by April which could take 8 weeks. And the maybe Suriname 2-3months after completion.
We should get a IT update between or maybe with Saffron 2 results.
Maybe news on a company departures...

RE: StarChild

To be fair I have never made reference to a "group". The existence of 2 camps, yes. And old guard, yes. But not a group.

"A group that believes in the company".. I'm confused by this. Do you mean share holders? Or optimistic posters whose won't tolerate any post which raises a question?

1. I'm waiting to see if any one disagrees with you here and says "we don't know if P#1 was a success". Or maybe people will only say this to me.  :P

2. I am no longer using those bad adjectives.

3. How come your allowed to say realistic things lol? This isn't fair

4. I agree a Farm In could happen. I would like a Farm In to happen. We all know how I feel about the possibility of it though.

CERP assets have protected BPC. I think without the merger, BPC would probably have gone into administration by the end on the year.
Would be awesome if th Suriname appraisal comes in with monster numbers rivialing the Bahamas estimate.

RE: Harryoffdock

To be fair the the BOD, Covid has stopped almost everything. We can't expect all projected dates to targets to be met.

RE: Petrodollar

Every paragraph in a BPC RNS contains the word rapid lol