Share Name Share Symbol Market Type Share ISIN Share Description
Columbus Energy LSE:CERP London Ordinary Share GB00BDGJ2R22 ORD 0.05P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.05p -0.83% 6.00p 5.90p 6.10p 6.05p 6.00p 6.05p 1,830,796 10:51:44
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 4.5 -11.9 -0.2 - 38.95

Columbus Energy Share Discussion Threads

Showing 4851 to 4873 of 4875 messages
Chat Pages: 195  194  193  192  191  190  189  188  187  186  185  184  Older
DateSubjectAuthorDiscuss
19/1/2018
13:04
CarpadiumAt least it seems to be pretty much a fixed amount that will be a smaller and smaller percentage of turnover over time while the abandonment costs are either years down the line or will end up being someone else's problem. I thought the last update introduced some ambiguity on Spanish costs but they have not been afraid to clear that up - they are straight shooters.
rossannan
19/1/2018
12:22
So 60bpd wasted on Spain, around 10% of total production. Expensive.
carpadium
19/1/2018
12:08
Thanks rossannan. Being a geologist, I guess he still signs at the bottom of the CPR...or may be Leo is qualified to so that?
holly day
19/1/2018
12:01
I think he was going to be kept on for 12 months, presumably from 10 May last year.
rossannan
19/1/2018
11:59
Re Ritson, my understanding was that he remains with us on a temporary basis. I suspect he is of little or no use in Trinidad bar handover and communication issues with locals and that he was primarily involved with Spain. Another saving when he departs. Can someone recall what was said at the time of the new management's arrival?
holly day
19/1/2018
11:48
Looks like the drain in Spain will continue at $60,000 per month. The last update had sort of implied that, after everything had been dismantled and closed, it might be a bit less going forward (which is why I asked the question). Apparently not.
rossannan
19/1/2018
11:30
Clear as mud! :0)... get shot of the Spanish assets. Out of 65K, Ritson probably earns a fair whack.
holly day
19/1/2018
11:30
So as I stated previously, it's best to follow Gordon Steins guidance when working out how much actual cash we get each month. As a guide approx $1000 per month for each barrel of oil per day ie 561bod - $561000 per month (roughly) That pretty much corresponds with what is stated in the 1st question.
jcgswims
19/1/2018
11:08
My understanding is that if the oil price goes above an average of $50 per quarter then there is an additional 18% tax applied after all the other royalty payments. So when the oil price was $56 income would be reduced to what you would have been getting at $46. This is why no one likes SPT and are hoping it is amended shortly. A Special Petroleum Tax (SPT) applies in Trinidad at 18% when the average weighted oil price received by sellers in each quarter exceeds US$50 per barrel. The SPT calculation is not related to just monthly oil prices but the average price achieved for each quarter ending March, June, September and December. The SPT calculation is applied against the oil sales achieved for each quarter (net of royalties) and also after taking account of investment tax credits (ITCs, which tend to be approximately 20% of capex incurred by the Company on that licence for the previous year). Calculations are undertaken at the end of each quarter and, due to brought forward ITCs, the Company’s latest forecasts indicate that no SPT payments will be made until 2H 2018 even if oil prices achieved on sales remain above US$50 per barrel in 2018. As the Company continues to incur new capex costs on the Goudron field in 2018, this will continue to reduce any SPT payments to be made later in 2018 and beyond. These forecasts may, of course, change as new information comes to light.
jcgswims
19/1/2018
11:07
I would be grateful if you could provide more information on the oil price v what Columbus actually receives. As was reported in the RNS dated 21 December 2017, the Company has been benefitting from an improved worldwide oil price environment where the Company is achieving an increased oil price on sales, with US$56.24 per barrel being achieved in December 2017 for November sales to the Pointe-a-Pierre refinery. The oil price to be achieved by the Company in January 2018 for December 2017 oil sales has been confirmed at a slightly increased price on the price achieved or November sales. That price is not specifically related to either Brent or WTI for that month but reflects the average price calculated by Petrotrin on refinery throughput using a standard formula for all sales entities. On average though, the price usually tends to be around or just lower than WTI. Petrotrin subsequently deducts royalty and other associated contractual payments from the above-mentioned oil prices, based on the sales volumes delivered by the Company in each month, in accordance with the specific licence terms. These deductions range between 35%-45% of the oil price achieved for each month depending on the sales volumes delivered and the sales price achieved, with the percentage deductions decreasing as sales volumes increase. Payment of the net amount (gross sales less royalty and other associated deductions) is made by Petrotrin at the end of each month for the previous months sales with those cash payments always being received by the Company on the due date.
jcgswims
19/1/2018
11:05
I see that some new Questions to the Team have popped up, including my Spanish one.
rossannan
19/1/2018
09:40
12bn - you are such a dinosaur but I can see why you've changed the subject after you finished crying over the Schroder buying and increased production - huge losses to anyone taking your advice to sell at 2p only weeks ago!
arrynillson
19/1/2018
09:13
FRM-1 identified oil in Lower Cruse and Lengua Formations at around 11,700 feet. Sidetrack is a possibility.. I’m sure Mr Koot will update on SWP in due course.
garnhiem80
19/1/2018
08:56
Garnhiem80,are these wells (FRM1 and B8) shallow wells and or existing wells? The point is the deep source reservoir is likely to be very deep,10000 to 12000 ft down and very expensive and risky to drill. I would be totally shocked if CERP could afford to try drilling one of those wells.
12bn
19/1/2018
08:52
I only seen CERP’S suggested plan of Re-entry into FRM1 and deepening well B8, should be pretty achievable from self sustained cash flow. FRM1 has already proven oil finds.. I have nothing on B8 well apart from it’s in the Bosnasse field. It All assists in proving oil.
garnhiem80
19/1/2018
08:48
Northpole2,yes it is old info but the point I was making is that drilling the deep Herrera sandstone at over 10000 ft was considered as far back as 2011 but nothing ever came of it over all the intervening years! It is now being discussed on the rampers only thread and I am pointing out that discussion is highly unlikely to result in action! If CERP think that they can fund the 'first few exploration wells' themselves, then I reckon that they WILL NOT be deep 10000 ft wells to the HERRERA SANDSTONE level. The cost of these deep wells was discussed many years ago and a figure of $15m-$20m was the concensus cost. Now I accept that costs might have changed a lot but no way will they have fallen to a level that CERP can afford without a JV partner being involved. Even then there is a risk that 10000 ft plus drilling will end in disaster like it did on the only time it was tried.
12bn
19/1/2018
08:29
Wrong again 12bn. Taken from a much more recent RNS, the Interims in September 2017. ...Most importantly, the additional funds will enable the Company to progress towards implementing its hugely exciting exploration programme on its South West Peninsula (“SWP”) assets. It is now the Company’s view that it should be in a position to internally fund the first few exploration wells on our SWP portfolio without the need for a partner to jointly fund the programme. Whilst Columbus may still look to source a partner to farm-in to the SWP programme, as a means of de-risking and potentially speeding up the programme, this is no longer considered to be an essential requirement to unlock the huge potential the Company sees in the SWP portfolio and, subsequently, to potentially deliver transformational growth in the medium-term. Your old information is just that. Old.
northpole2
19/1/2018
08:23
LGO envisages an integrated approach to exploration across the peninsula. Geological and geophysical studies will be combined with data from existing wells in Trinidad and Venezuela. Exploration drilling could be undertaken in 2013 and is expected to involve at least one well to a depth of at least 10,000 feet.//////// Was that well ever drilled? NO!!!!!!!! Too expensive and too risky imo!
12bn
19/1/2018
08:21
Here it is.///////RNS Number : 7365R Leni Gas & Oil PLC 09 November 2011 Immediate Release, 7 am 9 November 2011 Leni Gas & Oil PLC ("LGO" or the "Company") Trinidad Update Leni Gas & Oil plc today announces further petroleum lease acquisitions and progress with other projects in Trinidad. LGO has reached agreement to acquire the subsurface rights of several additional land leases in the Cedros Peninsula of SW Trinidad, totalling 937 acres. These leases, which lie immediately adjacent to the Company's producing interests at Icacos, will be combined with the 815 acres already leased earlier in 2011. A Private Petroleum License will be applied for shortly. These leases require a minimum work programme of geological studies and have no fees other than net production royalties in the event of success. The Icacos License covers a total of 1,960 acres; which with the new 100% owned leases, gives LGO a total interest in over 3,700 acres. The Company considers this to be a sufficient area to initiate the detailed planning for geophysical surveys; expected to consist of an airborne gravity and magnetic survey in 2012, followed by 2D seismic data and exploration drilling to explore for the Herrera Formation target. This area lies less than 15 kilometres from the Venezuelan coast where the equivalent Mio-Pliocene play is proven and has produced close to a billion barrels over the last 80 years (AAPG, Memoir 74). By contrast very little exploration for the Herrera Formation reservoirs has so far been undertaken in the Cedros Peninsula. LGO envisages an integrated approach to exploration across the peninsula. Geological and geophysical studies will be combined with data from existing wells in Trinidad and Venezuela. Exploration drilling could be undertaken in 2013 and is expected to involve at least one well to a depth of at least 10,000 feet. Icacos Field produces from the Upper Cruse reservoir at an average depth of 2000 feet. Production currently coming from three open wells and has averaged 35 bopd (gross) to date in 2011. LGO holds a 50% interest in the Icacos License. Potential exists to re-open some of the other 14 wells drilled within the Icacos leases and to explore further for small fields at the Cruse level as well as the deeper Herrera.
12bn
19/1/2018
08:04
In the wider Cedros Peninsular LTL holds a number of private petroleum leases totalling about 1,750 acres and is in the process of obtaining a private petroleum licence from the Ministry in order to carry out a number of field surveys with a view to eventually drilling exploration wells, including to deeper Herrera Sandstone and possible Cretaceous targets have so far been underexplored in this part of Trinidad. LTL is also negotiating further leases with private owners in the area and expects to commence field work by late 2013./////Taken from 29th April 2013 results,although I am sure drilling to the deep Herrera sandstone was discussed in 2011! Nothing ever came of the discussions.
12bn
19/1/2018
07:50
I see that there is talk on the rampers only thread of drilling deep in the Cedros Peninsular,this has been talked about since 2011 but nothing has ever happened,why? The answer is simple it is too expensive,$15-$20m ! It was once drilled by another company but they lost the drill bit and gave up.
12bn
19/1/2018
07:36
It's more studying loads of trades over a long time . There have been many trades 250k and 300k shares at a time which I don't think are just traders Pi'sSo if they haven't share swapped with kind or others then I reckon they bought on open market .Aimho of course and I could be wrong but just patter I have seen as have other here like TG noticing and many people saying Schroders topping up and staring looks like RNS soon and bang we all seemed to had been correct .
offerman
18/1/2018
20:14
LK intimated in the Dec update his hopes of announcing improved and re-structured arrangements re. BOLT so it might be useful to detail the position as at Jan '17. Included is some fascinating background to the whole SWP. South West Peninsula, Trinidad LGO and its local subsidiary, Leni Trinidad Limited ("LTL"), have reached agreement with Beach Oil Field Limited ("BOLT") on the terms of a final sale and purchase agreement ("SPA") for BOLT's interests in the South West Peninsula ("SWP"). The agreement will see LTL acquire the remaining 75% of the shareholding in BOLT for a final one-off payment of US$50,000 and will supersede the previously announced Deep Rights Agreement signed in 2013 on which a residual payment of US$1.4 million would have been due. Through this transaction LTL's shareholding in BOLT will increase from 25% to 100%, and LTL will gain rights to all shallow and deep leases held by BOLT. Completion of the ownership of the leases requires the completion of an existing agreement between BOLT and Petrotrin through the payment of US$89,000, and various minor payments to leaseholders and third-parties likely to total approximately US$45,000. BOLT currently has a loan with a Caribbean bank for approximately US$1.1 million and as part of the transaction this will refinanced in the local market or repaid as appropriate. LTL will take over operatorship of the Bonasse Oilfield with the intent of commencing a well reactivation programme later in 2017. Bonasse production was temporarily shut in in mid-2016 in the face of low oil prices, however, with LTL taking over operatorship, the improvement in oil prices and the improvements to the Trinidad tax regime anticipated for fiscal year 2017-18 LTL believes that some of the existing 16 wells at Bonasse could be profitably rejuvenated at minimal capital expense. The SWP, where LTL already has production from the shallow Icacos Oilfield, is significant since it is largely unexplored with regard to deep potential and in close proximity to the prolific East Venezuelan Basin of which the SWP is geologically a part. The only deep onshore well, FRM-1, drilled in 2008 to a depth of 12,301 feet, found oil shows in the Lower Cruse and Lengua Formations at around 11,700 feet. The regionally significant Herrera Sandstone formation was not reached in the FRM-1 well. The en-echelon structures offshore at Soldado have yielded major oil fields, in excess of 200 million barrels, and it is LGO's view that similar structures may lie onshore beneath the SWP. The SWP was one of LGO's principal targets in acquiring the Full Tensor Gravity ("FTG") gradiometry survey acquired by ARKeX Limited earlier in 2015. The final FTG data was transferred to LGO in early June 2015 and has been interpreted alongside a soil geochemistry survey acquired jointly with BOLT, and the existing well and seismic data which includes a 3D seismic survey over a large portion of the peninsula. The integrated interpretation work has shown the presence of a significant number of undrilled oil and gas leads and prospects within the SWP which will be further studied prior to a decision to drill. The Bonasse Oilfield discovered in 1911 by the Greig-1 well lies some 10 kilometres from Icacos and has been producing from up to 16 wells at depths up to 1,200 feet. Production was restarted in 1997, but has been temporarily suspended since mid-2016. Oil production comes from sandstones of the Cruse Formation and the oil quality averages 23 degree API gravity. BOLT and LTL are in agreement that significantly greater potential exists for additional production through the application of proven technologies. Additional shallow drilling targets are also available within the field boundaries. LGO, through its interests in Icacos, its wholly owned Cedros leases and the BOLT leases has close to 11,000 gross acres under lease in the SWP within which to explore, as well as the existing producing assets that can support enhanced production activities, such as well recompletions and the drilling of new production wells. The SPA is anticipated to close prior to the termination of the present exclusivity arrangements on 31 March 2017. (Let's hopefully settle on one year late!)
carpadium
Chat Pages: 195  194  193  192  191  190  189  188  187  186  185  184  Older
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P:32 V: D:20180119 13:46:57