Columbus Energy Resources Share Discussion Threads

[12bn] 12/12/2017 07:33

'Herrera'? I don't think so. The cost of drilling to 12000 ft to get at the oil there was estimated at £15m-£20m,I accept that this was several years ago and the costs are likely to have fallen but they will still be too high to be affordable,imo. The only time this was attempted the drill broke off and created a total loss,why do you think the Herrera has never been drilled? To be honest I think that there is a vast reservoir of oil there that could actually be a game changer but it is a very expensive gamble that was tried once and failed. I do not think water-flood will produce anything other than a very temporary production increase, which is likely to drop off a cliff very quickly, just like NRs infill wells did and the same goes for any production increases from new pumps. Past experience has taught us that any new wells drilled are highly likely to have the same dramatic fall in production as all new wells have had in the past,imo. Buying Cerp/lgo is an awfully big gamble imo and real production numbers may come as an awful surprise when the do arrive,imo.

[arrynillson] 11/12/2017 23:55

Dafrog - Spain progress is mentioned in the interim report - there was disappointment at the slow admin progress - the locals are even urging their government to speed matters up - but don't worry Neil Ritson is leading that aspect of the business.

[dafrog] 11/12/2017 18:30

I couldnt attend AGM. What was said about Spain? Assumed Spain were just in their ususl bureaucratic state. They invented red tape.

[arrynillson] 11/12/2017 17:57

12bn - really illuminating you can see possible flaws in other people's posts but are blind to your own apparent motiveless deramping which involves telling lies, boasting about your lack of research and advising readers to sell in the low 2s only weeks ago.

I don't know what the production figures will be as there has been so much activity but at least I'm aware that changes are taking place on the field - something that appears to have passed you by!

[edgein] 11/12/2017 16:34

Holly,

We'll find out within the next three weeks or so. Every morning now I'm expecting to see the little "N" on my level 2 pre-market beside CERP. I would imagine that most of the previous problems have left with the old name. LK strikes me as the type of person that takes no prisoners, when he was talking about Spain you could tell he meant business, I think that was at the AGM presentation. If there was a problem at a pump supplier I'm sure that LK would have other means to import the kit that he needs etc. So no real reason to invent problems that we haven't heard anything about. Yes it was a strange photo from a PR perspective. But since the guy doesn't like too many RNS' I think there's gonna be some serious reading and analysis of the next one.

Regards,
Ed.

[edgein] 11/12/2017 15:59

Offerman,

Spot on with your list, I'm also expecting the next update to be comprehensive of what's happened from the AGM and also hopefully hint towards plans for the cash mountain. So far we've heard that the Lind, Schroders, and OO money will be used to accelerate plans but we've yet to find out to what extent they've been accelerated. We're quickly running out of 2017 for the next update. Key catalysts for next year will certainly be the SWP drilling and possibly re-drill and pair the lost well. That is likely to give LK some serious bang for his buck considering where the oil price was when he joined and where its currently sitting.

SWP is gonna get exciting as these wells are likely to be multi target, Mayaro or equivalent, Forest, Crus, GM, Herrera et al. Its got UKOG potential only conventional sandstone reservoirs in the prolific Venezuela basin. I'm expecting a strong close to the year here, but next year when we get the plans for the SWP could be spectacular in terms of upside. A possible multi well campaign to be funded by well stimulation, waterflood, potentially the lost well and a significantly higher oil price than their $45/bbl internal budget. Spain might get sold off for a few mill etc.

Regards,
Ed.

[arrynillson] 11/12/2017 13:50

12bn - really illuminating you can see possible flaws in other people's posts but are blind to your own apparent motiveless deramping which involves telling lies, boasting about your lack of research and advising readers to sell in the low 2s only weeks ago.

I don't know what the production figures will be as there has been so much activity but at least I'm aware that changes are taking place on the field - something that appears to have passed you by!

[offerman] 11/12/2017 12:07

olly Day - 11 Dec 2017 - 11:37 - 2431 of 2433 - 0Brilliant!! Very good Great posts there people .

[holly day] 11/12/2017 11:39

Carpadium, "treasure trove of progress news"... that's exactly how i would put it. We'll need the whole x-mas break to digest it all!

[brasso3] 11/12/2017 11:39

We should not forget that LK has only been at LGO/ CERP for 10 months. He has achieved a lot in re-branding the company and restoring confidence. If we close the year at 550 - 700 BOPD then it will have been an exceptional turnaround in a short space of time. I look forward the detailed work programme for 2018...

[holly day] 11/12/2017 11:37

Wouldn't worry to much about pre-emptive text etc offerman. All made sense to me and often can work out what device peeps are posting from!... Think we'll have to start singing the 'on the nth day of x-mas' soon!... Santa Leo must be reading this BB!

[carpadium] 11/12/2017 11:36

Delay promotes doubt, but there is no delay here.

Before the end of the year was advised and the longer left the more inclusive the news could be. As with others imo w/c 18th looks favourite, LK probably has the whole of Christmas week off as do most of the city so it would be unlikely to hit 27-29th.

Going by previous interviews and AGM feedback it should be a treasure trove of progress news. To the above expectations the Spain decision and additional acreage in SWP re June's open bid round could be added, and who knows, maybe an acquisition in sight. According to Baay's interview there's many a small operator with 3-400bopd that may prove attractive and could be snapped up on the cheap.

Incidentally half a year has passed already since CERP launched with the bid at 2.8p end of week 16/6. That's 2 and a half years to go in my book with Leo the Impatient, forget the five years.

[holly day] 11/12/2017 11:20

IMO, the news WILL be POSITIVE, but not sure what impact it will have on the share price as I didn't really expect it to retrace to these levels. The company is going through a turnaround under the new management.

I fully expect to be CF +ve, which in itself will be a major feat. How far we swing in to CF+ is the key to underpinning the share price The WF and stimulation programs require thorough appraisal before reporting to ensure we have stable flows going forward and not a Ritson type hype followed by rapid decays. Leo has 'promised' a lot and I doubt he'd allow the analysts or TW any leeway to rip in to his reputation.

My minor trepidation arises from Leo's lack of experience in AIM and then the can of worms he may have inherited (supplier chain, logistics, local issues, etc) in Trinidad. Under Ritson, imo, there was too much of a shot in the dark and fingers crossed type of business strategy. This upcoming update will reveal how Leo has come to reconfigure the whole organisation and the strategy. Everything he has said so far and every action he is executing seems to be calculated.

He will have had to tie up a lot of loose ends and understand + manage a business that had lost it's way. The pure fact that he managed to convince LIND and Schroders should give all shareholders the belief. I am sure once this (his 1st 'proper') update is out of the way, we can all relax and enjoy the ride!

[ducatiman] 11/12/2017 11:05

Hoping you are correct offerman, not long to wait. GL, duc.

[offerman] 11/12/2017 11:01

CF + is very positive news which will happen.Poo has increased substantially from 45$ projections on a 550bopd Increased bopd in top of this will happen and be very positive .WF already states by LK will work Plus no doubt update due on SWP BOLT With potential what lays beneath ( feeder plans) GY 670 update Maybe plan for sidetrack re-drill 671 Huge pressure well . Profile updates. We knew some already , 3 at that time plus two more Mentioned . Since then another minimum 6-8 wells stimulated So for me it will be positive

[12bn] 11/12/2017 10:52

offerman11 Dec '17 - 10:44 - 2424 of 2425 0 0
Spot on
Agree patience is true .
I waited about 7 years what’s another 1-2 years
I have faith in LK just weird why so many sells with positive news imminent
ducatiman11 Dec '17 - 10:47 - 2425 of 2425 0 0
how do you know positive news is imminent? An update is imminent for sure and we hope it will be positive, unless you know something offerman? :-)////// He doesn't,the news could well be poor production numbers or even another discounted placing to fund water-flood but offerman is just a ramper.

[ducatiman] 11/12/2017 10:47

how do you know positive news is imminent? An update is imminent for sure and we hope it will be positive, unless you know something offerman? :-)

[offerman] 11/12/2017 10:44

Spot on Agree patience is true . I waited about 7 years what's another 1-2 years I have faith in LK just weird why so many sells with positive news imminent

[12bn] 11/12/2017 10:41

offerman11 Dec '17 - 10:35 - 2422 of 2422 0 0
Ductiman

We have overhang with somebody bailing
Every time we see buys and equal amount of sells appear and they don’t seemed concerned how low they are selling at either .//////// Who could be selling Sherlock? It couldn't be someone selling 4.5p shares at 5p+ could it? Doh!

[ducatiman] 11/12/2017 10:37

same at ast, fdbk, gwmo, offerman. Just have to be patient I suppose.

[offerman] 11/12/2017 10:35

Ductiman We have overhang with somebody bailing Every time we see buys and equal amount of sells appear and they don't seemed concerned how low they are selling at either .

[ducatiman] 11/12/2017 10:33

Matd rise due to overhang clearing. Hoping these hold 5p!!