Member Info for ShouldveSold

RE: Tiburn
I get it. What does ShS means by the way?

When EggChaser reads this, I am done for

:S

So being as all oil pools/reservoirs/formations/structures that contain oil can all be classed as a working petroleum system *W.P.S*, I don't understand why some of you are hailing that as monumental news.
I mean the boys over at the Weald Basin have 200billion barrels of OIP from a W.P.S and so far they can only get it to flow at a couple hundred barrels a day.
The value in any oil find comes from flow rates right?
So what is valued more? A well which holds 1million barrels and flows at 1200bpd. Or well which contains W.P.S that doesn't flow at commercial rates?

R: Tiburn
I'll take that as a very technical "Yes" lol which just underpins my only thought of a W.P.S; that I don't know how to value it lol. I feel like a broken record (._.)

RE: Tiburn
So to surmise; is it fair for me to say that all oil pools/reservoirs form from a "at sometime" working petroleum system?

RE: Tuckman

Good question. What's influencing my opinion is the experience I've had with Solo/Scirocco Energy over the years. They have been talking about a potential Farm In for 6 years. Still no Farm In.
So I have learned to wait for an official Farm In agreement JV rather than believing in the promise of one.

RE: Onlybpc
I agree !! Let's not have any of that racial stereotype talk. Although it did make me laugh

RE: PetroDollar
Why does it gave to be Mr Patel LOL???

RE: Tiburn
So in your opinion, is it fair for me to say that "all formations that hold oil can be classed as a working petroleum system? Or is it possible that a oil pool can form from a non working petroleum system. Geeez another loaded question :s

Ah u beat me to it. Appreciate the reply :)

RE: Tiburn
I've just realised I have asked you a loaded question so please, deconstruct or reword my question however you like to enable you to respond.
No beef just a good debate :)

RE: Tiburn
Just to push back a little; in your opinion or educated based opinion. If a oil discovery is non commercial can it still be classed as a working petroleum system? Or is it by definition an untapped commercial find?

RE: Tiburn
I can't explain it because I don't know how to value it :S
So all I can do is wait for a spanking RNS which details the Farm In agreement and JV % with a drill targeting a formation/s of "____" estimated oil in place.

For all i know, a petrol station can be classed as a working petroleum system. Because you go to the pump and it produces petrol and the it refills magically overnight lol *shrugs*
Lol I'm sorry, I just wish I knew what you knew.

Today's posts are quite upbeat and full of promise of good things to come, from what I understand is based on that Working Petroleum System quote and the heads up that companies have approached to Farm In & a reassuring phone call to a Board member. I wished the analysts shared those views & factored these sentiments into their valuation & price target. The company broker is awfully quite.
I also wished I had a point of reference for being able to value a Working Petroleum System. * for example: Tullow using that terminology after drilling a duster & then drilling another well based on a W.P.S & discoving massive flowwing oil. My confidence would then be at the levels that some of you guys are.

When I first starting investing in LGO the price was 0.004p, I thought " what a bargin" based on the potential. So to see the SP at this level after all these years is a gut punch. However I do believe the SP will start to creep back up. I'm not only basing that on the current price of oil but also production increases based on the PRD news, also the completion of testing the other Saffron zones and a Saffron 2 Well.
Im hoping Potter is saving official production numbers for a double whammy Taaah Daaah RNS in which we all say, that S Potter really is a great oil man. The share price really does need a double dose of good news to get it back to the 2p level.

RE: EggChaser1

Thanks for the explanation. I don't choose a particular style to post, I just post normally. I accept you find it one dimensional but I cannot change that or the views as have to suit your style.

I have no idea who those previous members you refer to are but I think directing all that stored negative energy that you had for them at me is uncalled for.
I am not a believer in placing fear into other investors as to....mind control them into buying or selling...??? But we are all free to believe in whatever we want, tin foil hats & all.
I will say that I have never once made a post telling or suggesting to buy or sell. All I have done is post my thoughts and every one is free to debate, correct, educate me or disagree with them.
I accept you have different opinions to me regarding P#1 but I don't want us to clash everytime when replying to the same post. Its ok if we disagree on P#1, our speculations & interpretations.
Whether I own shares or not or how many share I own or how long I've had them for I think is irrelevant to being allowed to created an account here or to post message. I feel as though your stance is "if you own shares in BPC then you should only post good things and not have a opinion which someone else may find negative, nor should you pose questions unless they are what you class as " good positive questions".

We all have a different level of understanding and information. One of the reasons I am here is to learn and hear others voice theirs.

Can we draw a line under this? If there is more things you want to clean up.. shoot.

RE: EggChaser1
Ah I see. So you wondered the same thing I did, but my thought was daft?
I'm getting a "you can't sit with us" vibe from you, which I'm guessing is rooted in the fact that I have differing opinions and interpretations to you.

I am trying to make sense of why PRD released a production increase RNS but BPC as the operator of those IT Wells did not. I guess I can't help if that amuses you.
I am regretful that my posts causes particular friction with you. As I have previously mentioned, I am only here for the engaging opinionated debates as it gives me a better balance of understanding.
I am sorry that you don't like the way I post.
:(

RE: EggChaser1
Just so I'm clear as to the "only one major question" you refer to. What question did I ask that you are answering?

RE: EggChaser1
My point being; a 50% increase in production I consider market sensitive news, so remain surprised why BPC didn't release a production update RNS.
Are we ok?

RE: Starchild

Ah my 1. question was just to clear up whether you were saying BPC had more net cash before the merger than CERP. And if so was it due to cash generative income or placing new shares.
2. Was answered with 1. Lol
3. Yes this was when the price of oil feel through the floor.
My point was, a presumption; that due to the merger and I don't mean the 8weeks to complete. I meant the months of negotiations beforehand. I presumed that things were halted I.e capex whilst negotiations/due diligence was taken place.
4. I remember BPC declining so was confused as to no RNS on production increases.
Lol I wondered if you swore

RE: Starchild

1. Is BPC's greater net cash due to position cash generative operations or capital raises from share placings/loans?

3. I made the presumption that CERP halted all testing and drilling due to the merger. I didn't understand at the time why they didn't finish testing all the zones in the Saffron discovery, but once the merger was announced, it made sense. Maybe because it would delay the merger and increase broker fees? Feel free to correct me on that.

4. I've been keeping an eye on the Predator RNS and was surprised when they released production increase news but BPC didn't. Maybe that means PRD are the operator of those CO² Wells.