Member Info for thewackmiester

Happy birthday GRH, have an enjoyable day.

Would you mind sharing with us/me in your opinion where you think sound went wrong with the information they were given.
Very kind of you to do so if you can.
GLA
Wacky

Evening GRH
I honestly thought I was being conservative with the reserves in place based on $30 a barrel ( gross obviously and with PRD owning the field)
Would be interested to hear what your views would be on $ reserves.
Thank you for your kind comments.
Think I’ve talked myself into buying a few more lol.
GLA
Wacky

Hi GRH,

I have based my speculative guess on 4 Factors, some of which you highlighted.

1. Current CPR reserves for Innis Trinity of 6.8mmbls @ $30 = $204m
2. Technical rights.
3. Co2 rights across Trinidad.
4. 3 Billion of reserves waiting for EOR as per article Dr Persad https://miningmaven.com/pdf/Trinidad-OilReport.pdf
(interesting article but mentioned on page 4)
If we were to sell the whole Trinidad business as a job lot whoever bought it would have total control of the cheapest oil recovery programme in all of the Caribbean, and bragging rights to being Eco friendly just for fun.
Of course this all hangs on a successful pilot.
IMO this is too important to give away to the lowest bidder, Poker face on.
Would be interested in anyone's thoughts, always eager to learn.

GLA.
Wacky.

Agreed but don’t give it away just to make a quick buck. It’s to valuable Imo.
Wacky

Offers for Trinidad
My hat is in the ring for
£50m not a penny less or we will be giving it away.
IMHO
GLA
Wacky

Personally I wouldn’t be to hasty in selling Trinidad,
Unless we receive an offer to good to be true.
We can have an income with Trinidad, which can pay for unforeseen problems down the line.
What’s the alternative, keep borrowing or the dreaded dilution. (I’m not an expert by any means but look what happened to Sound energy)
Dilution dilution dilution.
GLA
Wacky.

Sorry, for clarity, "set up a small cryogenic plant at GRF-1"

and !!! if Im correct and the company are forward planning to this extent, they must be very very confident about what is about to be drilled/discovered in Guercif.
Gonna have to raid the missus savings lol

GLA
Wacky

Hi All,
yes this is still bugging me, why would Paul mention " A quicker way to monetisation and GRF-1 in the same breath.

How about this for a bit of speculation,
As Mr MM pointed out yesterday, in 1972 Elf drilled the well and hit natural gas albeit small amounts and not enough for a large commercialised project. They missed the sweet spot by 1.5kms, but now because of modern technology we are now going to drill hopefully right on the money.
From memory part of the work will be to investigate the new well for migration of gas.
I think the GRF-1 well is migrated gas from the main well which we are about to drill, so if Im right whats to stop us from setting up a small cryogenic plant at low capital cost and trucking the product out of there on a daily basis and hence quickly monetising the "Well"

Any thoughts, comments most welcome,
GLA
Wacky

The last paragraph makes sense.
Ta very much Mr MM
Wacky

Good research Mr MM
So how far away would I be to suggest that the 1972 well will get a work over and then connected into hopefully a very successful new well drilled by ourselves or am I living up to my title of wacky.
Gla
Wacky

Hi all
Great news today.
Can anyone shed some light on how the well that was drilled in 1972 (2km) away from where our first drill is going to spud, will help achieve a quicker monetisation as per today’s rns.
Nuts n bolts stuff.
Thanks in advance.
Gla
Wacky

Ta Mr MM
Happy days ahead
Gla
Wacky

I may be wrong, but my take from the rns on co2 injection is that the license is valid for up to 90 days.
I don’t think it will take that long to repressurise the reservoir.
My reasoning is, when the original plan was submitted, a total of 5400 tonnes of co2 was to be injected and my maths worked a two month time span approximately.
We changed the proposal and had to reapply to the T & T government for authority and I’m pretty sure Paul said somewhere because of the change it should take only 30days to repressurise the reservoir.
Any thoughts ??
Gla
Wacky

Just found an investor update from lgo (Neil Ritson) 9th sept 2014 stating oil storage capacity of 5 tank batteries and a 1500 barrel sales tank on the trinity Inniss site, so if those tanks are not full and serviceable we should have somewhere to store the recovered oil from CO2 pilot study.

Dyor and gla
Wacky

Where did you find that Mr mm if you don't mind me asking ?

Paul talks about it in an rns, soz can't remeber which one, but he does state if we purchase innis trinity off cerp then it is in his words "pennies on a barrel"
Wonder how much it would be if we could get the field off cerp for less than the $4.2 million.
Don't think cerp are doing to well at the mo.
Acquisitions ??????
Dyor
Gla
Wacky.

That nice little snippet from the Cerp rns today would suggest to me that the first tranche of CO2 injection has passed the various tests ie, represurisation, stabilisation and drop and now to move onto continuous injection is a good sign the well is on course to produce EOR, at what rates we will have to wait and see.
Happy with that.
GLA
Wacky

Same old same old mm shenanigans, they know what's coming, however so do we, two can play at their games. I did say a while ago they had put the brakes on.
If the conditions are right it ain't gonna stop me from adding to my collection.
Share of 2020 all imo of course.
GLA
Wacky

Me thinks we got a Mexican standoff going on here.
MM’s not getting to exposed and we ain’t selling so who’s gonna blink first.
End of day, back to where we were or a little bit up on the back of news next week. IMO
All getting exciting and a bit green Maureen.
GLA
Wacky

Hey zebra
August last year, Paul mentions the nine months at the end of the interview.
Gla
Wacky