Columbus Energy Resources Share Discussion Threads

[whiskeyinthejar] 21/12/2017 10:53

Edgein- Trinity are under new management. New management has grown production this year by about 10% so far without needing to drill. It's restructured and cut costs so its now profitable at under $30 oil prices. Very different company, they are very cautious now.

Next year they drill onshore, but Trinity are talking to potential partners about drilling offshore in 2019. The big boys play offshore because production rates are much higher, so making a deal should be ok. But if the oil price falls or they can't find a partner, they can wait.

They can set their own pace because every day they are profitable and so they aren't under pressure to move quickly.

[12bn] 21/12/2017 10:35

A lot of 100k sells today,LIND unloading more 4.5p shares possibly?

[12bn] 21/12/2017 10:32

So 16 days ago production was expected to be much higher than 561 bopd,offerman expected 700 bopd but even 561 bopd is unlikely to be kept up imo,it was just 1 weeks selected production but one off factors are likely to be involved. You need to read between the lines and not just see what you want to see. 70 new wells x 20 bopd (never mind 60 bopd extra) is 1400 bopd EXTRA but 561 bopd doesn't show that,WHY? The reason must be that the work-overs produce a SHORT TERM INCREASE of 20-60 bopd BUT IT DOESN'T LAST LONG! LGO/CERP,was always like that,any increase in production was very temporary and soon disappeared! How else do you explain 1400-4200 bopd EXTRA only getting production up to 561 bopd?????????

[pr100] 21/12/2017 10:29

"An M&A director is the sort of appointment you make in the large corporate world, IMHO it's not something we need here."

Spot on, meep. So this is a clue that there is something coming up out of the ordinary.

LK would not waste all those cost-savings on non-essential coke-and-hookers Board candy.

[the guardian] 21/12/2017 10:24

holly, I am going to have a break from here and so I will say it one last time. It was obvious that many people were over expecting by a very large margin. The lack of an update allowed that expectation to continue and increase.

If something had been issued at two months to simply say that the company was still working towards its intended target,that would have calmed things down. Would the share price have been higher or lower today? No-one knows.

Anyway, that's it. I haven't sold a single share and do not intend to.

Have a good Christmas everybody.

[12bn] 21/12/2017 10:19

NEXUS75 Dec '17 - 15:31 - 2359 of 2729
0 0 0
From LockedIn Today 11:52
-------------------------------------

RE: Reality Check

Forget barrels of oil...this place is a barrel of laughs this morning! Still chuckling at Zabba's Africa worries.

Based on the media pieces we have available, LK couldn't make it much clearer that the 550bopd target will be beat (smashed).... he's basically said it on multiple occasions! They already had a period of over 500bopd back in September...with 3 months for further workovers, optimizations and a waterflood pilot on a well that initially flowed around 1000bopd on its own.... I'm pretty confident the 550 figure is so lowball that it will be comfortably beaten./////PMSL at that ramptastic post and here is another one.////offerman5 Dec '17 - 17:03 - 2361 of 2730
0 0 0
I'm guessing around 700bopd

These wells will decline so whilst they bring more on line production rates will
Slowly rise . Some wil drop off and some will come online to replenish and daily rates gradually rising .

What has hugely helped is poo

[ride daice] 21/12/2017 10:18

You plan in advance. If we drill a deep SWP well in late 2018 and strike then it's a totally different ball game. Such a scenario would allow CERP to easily consolidate within country and beyond.

[meep] 21/12/2017 10:12

Northpole, Leo is a very good orator. But there comes a point where you have to deliver some substance.

Touchstone is loss making, but produces 3x as much oil as CERP. So we need to quadruple production to break even and so stop printing shares.

It's all very well an oil explorer being loss making, but an oil producer needs to make money producing because that's its business.

It's G&A costs that are the problem here. The millions of shares being printed to pay Leo and his team etc. An M&A director is the sort of appointment you make in the large corporate world, IMHO it's not something we need here.

[12bn] 21/12/2017 10:12

12bn5 Dec '17 - 15:57 - 332 of 428 Edit
0 0 0
My guess on production is way under 600 barrels a day,maybe under 500 barrels,1000 barrels is a pipe dream.
Northpole25 Dec '17 - 16:00 - 333 of 428
0 2 0
You are just guessing 12bn. LK and Schroders seem to think differently.
12bn5 Dec '17 - 16:25 - 334 of 428 Edit
0 0 0
We shall see Northpole2 but my guess is in response to the guesses posted from the LSE threads by Nexus and they are ramptastic.//////// 'LK and Schroders seem to think differently' and some mugs believe them! Here is one of them////////offerman13 Dec '17 - 12:01 - 2477 of 2728
0 0 0
550 target but Leo said himself in these words

“ will likely smash this target”

[12bn] 21/12/2017 10:08

12bn - 05 Dec 2017 - 15:57:09 - 332 of 428 Lind issued monthly with millions of 4.5p shares SELL at 7,25p! - CERP
My guess on production is way under 600 barrels a day,maybe under 500 barrels,1000 barrels is a pipe dream.//////// There you go Northpole2,my post on production numbers and it looks very accurate to me,especially as 561 bopd is just 1 hand picked week and not a 3 monthly average! I will go and see what you were saying on Dec 5th!

[holly day] 21/12/2017 10:05

...and it was implied that we were reading too much in to the pump supplier's tweet...well, legacy issues related imo. So, well worth judging the tweets for clues.

[holly day] 21/12/2017 10:03

meep, going forward the foundations are cast in 'concrete', so to speak. Just as I said before, it was a bit of can of worms (legacy issues) left behind by Ritson. Hopefully, most if not all, resolved.


TG, if you've had your more regular updates, I agree with others, you'd have been more disappointed and share price languishing at or below 5p based on the fact that it's only in the last week they exceeded their target of 550 bopd.

[pr100] 21/12/2017 10:01

"Ritson produced 555 bopd last year (12 months to October) so not really any growth this year at all."

The benchmark was set at LK's arrival on the scene and his forecasts have been met. He made no forecast for YOY performance - which will obviously be down in 2017.

It takes time to turn a large ship around and LK hasn't had long. It also takes money and he has so far spent peanuts. Much more to come in 2018 imho - and presumably a significant YOY improvement…plus a significant improvement over 2016.

And don't forget that two of the biggest producers have been down due to failed non-return valves. They should add 15% when they are repaired.

[howmanyfools] 21/12/2017 09:57

Northpole2...meep is closer to the truth.

Pre-storm levels 380-420, current levels 520-560.

Koot spin on level of growth is misleading.

[ride daice] 21/12/2017 09:56

The most important factor here imho is the transparency. We're getting the story and the production numbers warts and all.

[northpole2] 21/12/2017 09:51

meep ... yes but the share price has tripled since LK joined because people believe he can deliver growth and value. Look at the video... shows what he inherited which included many problems. The 327 bopd number wasn't just June but Q217 average.

[12bn] 21/12/2017 09:51

'So?' So you were wrong to see ACTIVITIES AS RUNNING COSTS,that is what Koot wanted but salaries and loan repayments ARE NOT DAY TO DAY ACTIVITIES. If you read only what you want to see you are doing poor research. There is still plenty of time for a placing/Seda tap deal,I never said when one would arrive and it is not the end of time Northpole2. Which targets did they hit? If I remember rightly I forecasted the production numbers to be around 500 bopd,which over 3 months they probably were. I noticed that you ignored the work-over claim of 20-60 bopd increase over 70 wells,as 1400-4200 bopd,just isn't possible if only 561 bopd are being produced!!!!!!! Something stinks.

[meep] 21/12/2017 09:42

It's a bit weasly comparing production now to June, because in June there was a hurricane in Trinidad and production was disrupted.

Ritson produced 555 bopd last year (12 months to October) so not really any growth this year at all.

[greatfull dead] 21/12/2017 09:41

neversatisfied,

Truth can hurt if your playing blind. Here is a TIP HZM.

ATB,
GD

[northpole2] 21/12/2017 09:34

And? So? They hit their targets which you said they wouldn't. And you have also continually said they will be doing a SEDA type raise ("imo"). But they've confirmed they are fully funded for 2018. Wrong again.

[neversatisfied] 21/12/2017 09:34

Announcing that they were going to be announcing did this no favours at all.

[12bn] 21/12/2017 09:34

Northpole2,read what was said carefully,'day to day ACTIVITIES' not 'day to day running costs',which imo is a carefully worded statement which excludes loan costs and salaries. You can interpret it as you want.

[esmerelda] 21/12/2017 09:33

OK Edgein, I appreciate your view and I'll not comment again until the next update in three months time. Sincerely wish you and LTH all the best for Xmas and the New Year. Bye for now.