Member Info for Wolferlaf

Im sorry if this information has been posted but I haven't been able to go through each and every post since yesterday late morning( 400 +)
This link on BPC's site :-
https://www.bpcplc.com/wp-content/uploads/2020/02/BPC-Proactive-Presentation-website-20-February-2020-FINAL.pdf
details their overview on the Perceverence #1 well.
The only difference is that there is a change to the drillship company to Stena and as announced in Simon Potters interview on Proactive Research yesterday and that the drillship wont be in place until mid / end December at earliest.
Interesting heading in the BPC overview is :- "Only Drilling Can Further De-Risk".
One can assume that until CERP or another benefactor comes along that they have nowhere else to go to raise further funds if this drill fails.
In the Capital Strategy part of the overview they say :- "Total potential capital sources of $36m; to be deployed against well cost estimate $25-30m (plus potential $5m increment for contingencies / expanded testing based on real-time drill results)"
How confident one is in accepting this risk is obviously down to each individuals slant on the presentation.
Well - good luck to all here on whichever way you view this merger. I think a lot will be forced to ride this out whichever way the vote goes. Selling right now if you want out might be a bit premature in my opinion
My view full will be formulated once Leo tells all as he sees it.

The RNS states nothing of the kind - "In the Middle Cruse, we discovered medium quality crude (17° to 20° API) with a high water cut (circa 90%-95%)" is the only mention of Water Cut. Hard to miss that too.
Also - "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" So - the Lower Cruse has not yet been appraised.
That will do for me till the appraisal comes. RNS - Legal documents always do it for me.

Water Cut of 90/95% - Yes, but only mentioned in the Middle Cruse, so to assume the same proportions in the Lower Cruse is pure speculation. With estimates for recovery of oil from a Lower Cruse development of 11.5mmbbl who really cares a jot over who is right or wrong over the recovery amount/flow in the Middle Cruse. I can suggest that to the pillocks that try to pour scorn on this chat site " you wouldn't recognize a subtle plan if it painted itself purple and danced naked on a harpsicord singing 'subtle plans are here again!"
As to the problem of water cut, I was lucky enough to be bored ****less at mealtimes from a father and uncle whose expertise as consultants and very high management in a major oil companies in both onshore and offshore drilling and production. I am lucky to say that I did listen to a little of what they preached!
Sorry to use others quotes to summarise the issue of water cut but - "I remember being involved in a field we were producing at the time that had 90% water cut and we were producing 125,000 barrels of OIL/d. It was a big field with lots of wells but this was when oil was around $50/bbl and it was still immensely profitable". and " I would guess Halliburton’s number is low. They’re saying the average water cut globally is 72%. The trend I’m redeveloping in Texas has been producing since the late 40’s and has made 4.5 billion bo. And a lot of those wells are still producing today…at a 97%+ water cut. And most have been producing at 90% WC of higher for a decade…or two." Theses guys said that - not me!
Lastly - please note that Leo and his team have gone away to prepare individual development plans for the Middle and Lower Cruse discoveries, suggesting that these finds have quite differing properties. Therefore two different end results regarding recovery rates, and indeed quality!
So - don't be put off by the seemingly high figures of water cut. I am an eternal pessimist but even I can see the potential here. That isn't to say that I am promoting this to anyone - just for me. I am friggin fed up of seeing tit for tat kindergarten airings on here.
Good luck all those invested - Bugger off and go play with yourselves those that are not!

I must say that I am suffering with a case of the "Clingons" as the weeks roll by. Nervous times

lease add on my 549,951 - Thanks

This was lited from TechnoMine, August 2015. Longwall mining is a highly productive underground coal mining method where a long wall of coal is mined in a single slice, typically of thickness 0.6 m to 1.0 m. Longwall Shearers Three types of shearers have been used in mines around the world: Double Ended Ranging Drum (DERS), Single Ended Ranging Drum (SERS) and Single Ended Fixed Drum (SEFS). The most common among these is DERS used to extract coal seams from 1.8 m to 3.0 m, though a thickness up to 6.0 m has been achieved. SERS is not so common and is preferred for seam thicknesses of around 1.5 m. SEFS is used for thinner seams (1.3 m), but it has to compete with the plow system which is more productive than shearers for thinner coal seams. An interesting article :- http://technology.infomine.com/reviews/longwallmining/welcome.asp?view=full I do not profess to be by any means an expert on coalmining.

A fair few buys this am -buy price over 9:00 now

To be blunt yasx, to suggest that by indulging in the schadenfreude ethic is not hurling an insult to others clearly shows that you are a thoroughly repugnant piece of crap. Clearly you have a very short memory span .I wont waste my time pulling apart other conflicting things you have said. I cant waste time reading the same diatribe, however factual or correct some of it may or may not be.

Not only repeating himself over and over, but now having to post it twice. I tell you, one gets very shaky hands with the DT's. Not a good idea to mention speed. He will be on that next!!

Well well welll - Glad someone can see through yasx - she or he is like indigestion - she / he keeps on repeating, which kinds of diminishes the point being made. If you shout loud enough, someone might just listen to you. Maybe someone might like to let her / him know. Just keep reading articles by the likes of Reuters and Bloomberg - or do they have no bearing on matters of the world. - I can see why someone might see an opening in the market although will it move forwards - who knows. I actually like characters of the Yappy Arsey Skanky eXamples as they kind of help the share price fluctuate - hence my splendid position with this share - down then up then - down then up and down - and now up again - keep it rolling. Sounds like someone has sour grapes - I cant imagine why. If a certain person wants lessons on how to make money then she or he only needs to ask. Did I Laugh - I certainly did. all, the way to the bank. More of the same to come I say.

It isn't too hard to see why a potential Chinese investor wants to explore ANR's "asset" This might make some some sense, and makes interesting reading. https://www.bloomberg.com/news/articles/2017-09-27/now-one-of-the-world-s-energy-powerhouses-has-a-coal-squeeze Also, this Reuters article might lend some weight as to how the coal industry in China has taken such a downward turn , thus increasing prices dramatically there. …https://www.reuters.com/article/us-china-coal-power/coal-crunch-sees-chinas-rustbelt-exposed-to-risk-of-winter-power-heat-cuts-idUSKCN1BG0SN It makes sense to me if an entrepreneur sees a gap to be filled. We shall see!

At the beginning of the year willie Walsh stated that in this year, it was to be his mission to cut costs. This has something to do with both old staff and new staff. The plan is simple.Try to oust as many old BA contracted staff on higher wages - then replace with new IAG contracted staff on the poorer wage. The latest trick now is to bring in a brand new system of working with newer untried and barely tested technology on the ramp resulting in many redundancies. If the new system works - and there is not a good feeling that it will - there are huge savings. If it doesn't , then heigh ho - employ replacement staff on a reduced IAG salary. Savings galore !! The reason why this potential "strike" may be doomed is because the workforce is fragmented into several different unions, and for there to be any successful strike action it needs all the different factions to join forces. This company is symptomatic of an old government run organisation that has failed to deal with its overweight management structure that employs managers for managers ! Unless it realises this and acts accordingly, then the appropriate savings will be hard to achieve.