Cheramie#2

Cheramie#2

News about Cheramie#2 - Last updated November 14, 2017

Joint Operating Agreement, som indeholder alle betingelserne mellem investor og olieselskabet.

J.O.A. -(Joint Operating Agreement)

 

2017

3-7-17

The Cheramie #2 is down to +/- 25 bod (+/- 760 bo/mon) due primarily to compressor problems.  In May there were +/- 7 days of down time from the compressor.  In June we have had another +/- 7 days of downtime.  The compressor company gave us a +/- $2500 credit for excessive downtime.  The service company overhauled the compressor and changed out various components on the engine which should get us back on production on a 24 hour basis.  There was an extra charge this month of a yearly rental of $5,000 that had to be paid, otherwise we would have shown a small profit.  Lower oil prices are not helping our situation.  We expect to weather this economic storm and begin cash flowing this month.

Information on Compressor:  The compressor is needed as an artificial lift mechanism to get oil to the surface.  Gas is compressed and sent down the annulus (Casing side of the completion) at +/- 900 psig and will go through a series of valves that will introduce this gas into the tubing.  This helps  lifts the oil to the surface.  This is a continual process.  If the well is not gas lifted the well will essentially not flow.  This artificial lift is not needed in the early stages of production where there is sufficient pressure and the well will flow on its own.

Tom

16-6-17

25-29 bod.  We have not done any work yet.  I got almost a month’s credit from the compressor people.  Some help for down time due to compressor.  I think most of our problems are getting the well balanced properly with gas lift.  We are working on that.

Cheramie#2 kilden, har været ned i ca. 7 dage i udbetalings perioden for maj måned 2017, dette var ikke kilden men der i mod vores leje kompressor som skulle have ordnet noget dette koster ikke os noget. Men der i mod er der blevet solgt ca. 180 tønder råolie mindre i perioden hvilket påvirker afkastet/overskudet for maj udbetalingen med ca. $87 per procent ejerskab.

Operatøren regner med at være tilbage i normalt afkast i juni måned og frem .

The Cheramie #2 had some issues with the rental compressor.  We do not have to pay for this but we did have some lower production.  We did cut paraffin in the well and we moved from 26-36 bod.  However, you will note it took over a week as the compressor kept needing repairs. All repairs have been completed on the compressor.

However it is at 36 bod and doing fine now.

20-3-17

Vi har modtaget økonomisk oversigt fra overtagelsen og frem til det forventet overskud i maj måned 2017. Dette viser at at vi kan forvente en markant fremgang på overskudet på denne kilde, da vi har fået betalt størstedelen af vores ekstra udgifter såsom Ad-valorem skat m.m. sidste betaling af dette er i april måned hvor vi også ser et pæn fremgang i overskudet til alle medejere, vi skulle gerne være tilbage i det normale niveau i maj måned 2017. se skemaet nedenunder som Shelf Energy har lavet.

LOE Cheramie 2 LOE Nov 2016

11-1-17

Vi har nu modtaget den officielle PA fra Shelf Energy LLC, hvor af det fremgår hvem alle medejere af kilden er. Alle danske investorer vil indenfor kort tid modtage en email hvor i De vil finde en PDF fil som skal under skrives flere steder, Stacey fra Shelf, har markeret disse så det er er nemt at finde ud af. De kan se den endelige PA i PDF filen nedenunder. Når De modtager deres egen via email, så er det vigtigt at De tjekker at alle informationer er korrekt da disse vil blive reg. på det lokale domhus.

joint-operating-agreement-vub-theresa-cheramie-et-al-well-no-2-with-all-investor-on-it

10-1-17

- Vi har modtaget et forklaring vedr. betaling af ad-valorem taxes, samt hvordan disse vil blive håndteret i fremtiden på denne kilde og generel information omkring kilden status og produktion.

The Cheramie #2 well is producing at 31-34 bod and is holding steady. With oil prices moving upward this should put us in a position to get a good rate of return for the year 2017.

NOTE: In January you will notice that Property Taxes (Ad Valorem) needed to be paid for year 2016. Previously mid-year we had to deal with an unpaid Property Tax which was due and delinquent from the previous owner for year 2015. The Property Tax is a yearly Tax just like the property taxes on your house they are due at the end of the year.

Two measures were taken to offset this tax.

  • You will be billed in three equal payments in January, February and March of 2017 for the 2016 year end Property Tax, instead of one lump sum which would put your cash flow negative for January. This will enable us to show a positive Rate of return for all three months. If you want to pay in lump sum please contact me and this will be arranged.
  • The second measure we are taking is that for the next 10 months we will escrow funds monthly for the Property Tax to avoid being hit at the end of the year in a lump sum.

Additionally we have changed accountants and this is the first month for our new group called IPC. Please review your billings for any questions or recommendations you might have. We want your statement to be as reader friendly as possible. We now have the capability to do more comprehensive and individual runs for taxes, audits or simply review. There may be a small charge for extra runs to be made but we can let you know up front of that cost if any.

We are doing all measures possible to reduce monthly expenses and increase profits to our investor. We value your confidence in Shelf Energy, LLC and will do everything possible to bring profits to your investments.

Regards,

Tom

2016

8-9-16

Vi har modtaget en detaljeret rapport samt økonomiske tal over de udgifter der har været på kilden siden vi overtog i midt juni 2016. begge PDFer forfindes nedenunder.

*explanation-of-revenue-and-billing-for-the-cheramie-2-well

*loe-cheramie-2-udgiftsoversigt

26-8-16

- sidste nyt fra operatøren.

Produktionen ligger stabilt på 32-34 tønder råolie om dagen, De kan se et produktionsskema ved at åbne PDF filen nedenunder.

Cheramie#2-Aug-produktionsskema frem til 26 aug 2016

18-8-16

- Billeder og videoer fra vores studietur i august 2016

Videoer fra Cheramie#2 kilden i Lafayette.


[oqeygallery id=22]

Billeder udefra kilden.

Tanksventilhuset på kildenShelfImg1Resizekemikalier m.m.

29-7-16

- seneste rapport fra Shelf Energy LLC, kan læses nedenunder, vi er også blevet adviseret omkring at alle kunder modtager deres første udbytte for juni produktionen i august måned 2016, afkast forventes at blive lige omkring 1.50 % og dette kun for en halv måneds produktion.

kopi af rapport:

The Cheramie #2 is producing 32-34 bod. Revenue and billings were prepared and reviewed today. Keep in mind that we are about 1 month behind in production for any given month. The well was closed on June 15th so there is half a month’s production for the August revenue. In September we will get a full month of production.

Modifications to Loading Facility: In the purchase Shelf noted that the facility or “Tank Battery” where the oil is sent for transport was below standards. Work had to be done on the retaining wall around the tanks, piping modifications and safety system was put back into surface. The total for the work including back taxes that were due amounted to $86,000. So this month there was about $19,000 of revenue less +/-$86,000 or about $67,000 of extra work costs. Next month there will only be regular monthly operating costs with a full month of production.

The opportunity to pick up this well at a reasonable price was with these factors in mind, that we would need to upgrade for safety and efficiency.

Next month revenue payments will be for a full month’s production.

Here We Go!

Tom

19-7-16

Vi har talt med Tom fra Shelf via skype i går aftes og tingene køre fint ude på anlægget vi holder vores daglige produktion på 32-34 tønder om dagen. Samtidigt kunne han oplyse at deres revisor var i gang med at beregne indtægter og udgifter for juni måned hvor vi overtog d. 15 måneden, som tingene ser ud nu, forventer Tom at der vil være positivt udbytte til medejerne i august måned 2016, vi vil få den nøjagtige beregning ultimo juli / primo aug, hvor vi vil kunne se resultatet af de først 15 dages produktion med os som ejer af kilden.

8-7-16

Shelf Energy, LLC closed the purchase of the Cheramie #2 (Producing Well @ 32-34 bod) and the Shut-in John Plaisance #1 on June 15, 2016..

  1. Cheramie #2 – The Cheramie #2 is an oil well that has produced relatively flat production for the last 12-14 years. Shelf’s analysis determined it to be a good fit for a long term investment with low risk in this low oil price environment. The well is expected to continue to produce for years to come with a reserve estimate to be 75-125 thousand barrels of oil. The land owner 3D has verified the trap of the producing sand called the BN-5.
  1. Plaisance #1 – The Plaisance #1 is shut in with gas potential but would require a workover. The 3D has not been fully evaluated around this well but it may prove to be another prospect to either workover or perhaps drill. This will require future work to evaluate.

The effective date of the sale was changed to June 15th to accommodate the Seller’s request. Shelf and its investors were entitled to production in the tanks that were not picked up prior to June 15th. But because the revenue falls in the middle of the month there will be distributions in August of 2016. In addition, there were immediate modifications that Shelf had to make to insure safety and no interruption of service. Shelf performed this work June 23 to June 26. There was about $30,000 spent but the August revenue should pay for this.

The transition was smooth with two days of lost production. There were eight pick-ups of oil in June. From June 1 -15th four loads will go to the previous owner and after June 15- June 30 we will have four loads.

Current production rate is 32-34 bod.

21-6-16

Til alle

Gode nyheder, Shelf har meddelt at vi får ca. 300 tønder råolie med i handlen, disse var i tankene og blev ikke afhentet inden overdragelsen skete, dermed tilhører de os nu og kommer med ud på afregningen til august måned 2016. Vi holder en snit produktion på 33 tønder om dagen p.t. Tom har også forhandlet en ny aftale på plads med vores pumper (tilsynsmand på kilden) til $ 900 om måneden, den tidligere ejer betalte $ 2000 om måneden så i alt en besparelse om året på $13200 (kr. 85.800) bare på denne ene post.

Tom fortsætter med at trimme anlægget, samt aftalerne med vores leverandører.

14-6-16

Så er er handlen i hus, vi i overtager d.15-6-2016, De kan læse det underskrevet dokument mellem sælger og Shelf Energy LLC. i PDFen nedenunder.

Signed- Assignment, Bill of Sale and Conveyance for the VUB; Theresa Cheramie Well No. 2 and the VUA; John Plaisance Well No. 1, Bully Camp Field, Lafourche Parish, Louisiana

6-6-16

Planlagt overtagelse er stadig d. 15-6-16, men tilbagevirkende kraft til 1-6-16, dog forhandles der stadig omkring den solgte olie for maj måned, da der nogle udgifter som skal dækkes af henholdsvis af sælger og køber, vi afventer stadig den endelige aftale omkring dette punkt.

3-6-16

- Seneste update omkring overtagelses af projektet fra sælger.

Update:

We will work to Close on June 15th - with an Effective Date of June 1st.

The Delay in Closing is due to Due-Diligence on paperwork issues and a small leak that was discovered on Wednesday in the Saltwater Disposal Tank that is being repaired.

As with Spudding of Wells, unfortunately sometimes a drill date (is tied to rig availability, permitting, etc.) and a closing date on an acquisition of producing well(s) (is due to punch list items- like with building or purchasing a house) and can sometimes move around.

Stacey

Note: Alle investorer der er med fra 1. juni 2016, vil modtage afregning for 1 læs råolie solgt i Maj måned 2016, dette er den aftale man har indgået med sælger, da der var nogle modifikationer på hovedaftalens punkter begge parter skulle kunne godkende.

2-6-16

Shelf har rykket overtagelsesdatoen til enten midt juni eller 1. juli, så vi starter på en hel produktionsmåned, der var nogle juridiske dokumenter der skulle ordnes før endelig betaling kan finde sted.

12-5-16

Shelf har meddelt at man er i gang med at fortage de sidste undersøgelser af hele anlægget som skal overtages. Man forventer at overtage ejerskabet juridisk ultimo maj eller primo juni 2016.

 

Shelf Energy LLC

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