Saffron Eng Share Discussion Threads

[2vdm] 12/5/2017 08:35

tsmith, how do you reckon that?

[tsmith2] 12/5/2017 08:24

yesterday's rise - leaky co, some know more than others; not good

[tsmith2] 12/5/2017 08:17

Need capitulation here.

[2vdm] 12/5/2017 07:46

RNS today -
Bezzecca commercial production begins. Testing now complete.

Saffron Energy plc (AIM: SRON), the natural gas producer with interests in northern Italy, is pleased to announce that testing of the primary production layers from the Bezzecca well is complete and production planning has been finalised. The initial plan now is to operate all three levels with an estimated combined flow of 30,000-35,000 cubic meters per day (scm/day). Steady commingled production will be achieved through the installation of a downhole choke above the Miocene level R.

Level A in the Pliocene has flowed in excess of the planned production rates at stabilised flows of 20,000-25,000 scm/day and is on production. This flow rate is above the levels estimated in the CPR.

Level R in the Miocene has also been tested and flowed at 25,000 scm/day slightly below CPR estimates.

In addition, level S was flow tested for a shorter period, and will contribute to production at around 5,000-10,000 scm/day.

Production will continue in level A at 20,000-25,000 scm/day up to the end of June, with production levels increasing to 30,000-35,000 scm/day from early July when levels R and S will be added, once the bottom hole choke is delivered and installed.

Bezzecca is located east of Milan within the established prolific, gas-producing Po Valley region in northern Italy and operated by Saffron's subsidiary Northsun Italia SPA (NSI). Gas from Bezzecca 1 is processed at the Vitalba processing plant and directly connected to the national grid, which is owned and operated by SNAM Rete Gas S.p.A. The gas is sold to Shell Energy Italia S.r.l. under an existing off-take agreement.

The Company will provide a trading update in due course to include the Group revenue and profit figures, along with updated flow rates.

Chief Executive Officer of Saffron Energy, Michael Masterman commented: "It's a very important achievement for Saffron to have moved into revenue producing commercial production at Bezzecca following completion of the commissioning and testing stage. Level A is now in production, producing above expected rates. We look forward to further increasing production in July when we move to comingled production from all three levels. We are also on track to bring Sant' Alberto on stream in Q4 2017 as well as actively seeking new opportunities to substantially increase revenue and production within the Group."

[ayesha4] 11/5/2017 13:44

Flow rates coming

[jrjr99] 11/5/2017 13:42

why the rise?

[2vdm] 10/5/2017 14:25

You don't have to follow his advice. I would argue that he's bought it to many people's attention. If the BOD can control its costs, it has a solid revenue stream here and all the more for those who have the guts to stick with it. Just my view.

[ayesha4] 10/5/2017 14:05

This share has been totally shafted by the lying scumbag TW

[2vdm] 10/5/2017 12:30

will post when I hear about next interview.

[oilandgas1] 10/5/2017 12:02

@2Vdm - high risk Share IMHO .. but possibly good returns

hxxps://saffronenergy.co.uk/investors/financial-reports/

Cash burn was high last year and cash reserves are low (65% owned by PO valley energy ltd).. but lots of infrastructure in place (pipelines and connectivity to gas processing) and Bezzecca will make the cash they need to kick on .. flow rates due in May and gas production within 2-3 months.

[2vdm] 10/5/2017 09:41

Thanks oilandgas1.I can't seem to finf the interview although I've only just registered with Vox. Are they any good? I know that Cassiopea Ltd are conducting one with CEO later this week, so I'm waiting to see what he has to say. Any idea what the o/heads are and/or cash burn?

[oilandgas1] 10/5/2017 08:21

The company needs some more exposure .. marketing wise and a review by some more oil and gas analysts e.g. Malcy.

I think the more people hear about this gas play the better!

[2vdm] 10/5/2017 07:59

News coming shortly in an interview with CEO.

[2vdm] 09/5/2017 08:27

I am surprised its dropped this far. The BOD have done as promised, both wells delivered on time and flowing, with the 3rd on stream later this year. A deal to buy gas with Shell and the wells close to the national pipeline infrastructure. I'll be looking to top up and we still need to have news of flow rates.

[ayesha4] 08/5/2017 15:40

Could this go all the way to 5p and below ?

[oilandgas1] 04/5/2017 14:48

It is very surprising not to see any news this week .. but one day left..seems also the market does not like this Stock enough (yet)

Bezzecca Flow rates this week or next to stabilise the share price and put a floor under it.

[ayesha4] 04/5/2017 13:51

They are buying another asset - I have it confirmed as I dont trust BMD. I would wait buying the shares though until it turns.

[jrjr99] 28/4/2017 09:31

small top up for me, 20000.

looks good value at the moment

[ayesha4] 28/4/2017 08:29

Update Tuesday. May take a punt later today.

[oilandgas1] 25/4/2017 09:58

yes , very good price below 7p and so I added:-). lots of potential here based on GAS plans for

1) Bezzecca Flow rates this week or next to stabilise the share price and put a floor under it.
2) Sillaro: already producing and more wells to come
3) Sant Alberto

7p to 10p by Sep17(IMHO) with FCF and about 100SCM Gas production by Dec17

[ayesha4] 25/4/2017 09:37

Tempting at this price.

[gemstar2] 24/4/2017 20:11

This was posted on LSE board


Fri 13:44 Price: 7.38
TheHaister 10,239 posts
Drinks last night
Sorry 100k - 150 year end but will need a JV partner to do this.
Off Topic No Opinion
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Fri 13:42 Price: 7.38
TheHaister 10,239 posts
Drinks last night
I was there last night too. He told me update on flow rates by end of April and that they are targeting 100,000 scm by year end

[oilandgas1] 24/4/2017 15:11

We must be due updated gas flow rates in the next 10 days or so , does anyone else expect an update ?

[2vdm] 24/4/2017 08:48

I'm not too worried. The mngt are doing what they said. Let's wait for the figures and for the 3rd well to start gas production towards the end of this year.