Columbus Energy Resources Share Discussion Threads

[jcgswims] 19/3/2018 07:39

Great news, in particular I like...

"In line with our ongoing focus on capital discipline, the payments due under the renegotiated BOLT transaction and new lease arrangement are fully funded from existing cash resources and are included in the Company's 2018 Budget."

"The payments due to BOLT and Petrotrin are fully funded from existing cash resources and are included in the Company's 2018 Budget. "

"It is anticipated that between 2-3 wells, targeting the shallower prospects, may be drilled on the licences initially at costs of around US$2-4 million per well, including wells targeting multiple stacked prospects, with the first well potentially being drilled, subject to satisfactory technical analysis, in the first half of 2019. The Company will look to fund this work programme from cash available from its growing production operations in Trinidad."

[12bn] 19/3/2018 07:28

Cerp will need more cash imo,deep wells were estimated to cost $15m-$20m a few years ago,we shall see. The Cedros Peninsular is Cerps best hope for survival imo though. It is a gamble as the last attempt to drill 12000 ft there ended in a stuck drill but it could pay off.

[12bn] 19/3/2018 07:25

Background

In 2015, Columbus and its local subsidiary, Leni Trinidad Limited ("LTL"), entered into the initial agreement with BOLT for the purchase of the "deep rights" held by BOLT in the SWP (oil and gas that lay below 7,000 feet). This included LTL purchasing a 25% equity interest in BOLT at that time.

In January 2017, the relevant parties amended the terms of the BOLT transaction. It envisaged that LTL would acquire the remaining 75% of the shareholding in BOLT in return for: (i) a payment of US$50,000 to the shareholder of BOLT; (ii) Columbus making other payments to third parties of approximately US$134,000; and (iii) the adoption by Columbus of a loan held by BOLT of approximately US$1.1 million.

The rationale for acquiring BOLT was that BOLT was the lessee under a lease with Singh's (Cedros) Estates Limited (the "Existing Lease"). The Existing Lease provided BOLT with access to the petroleum underlying the leased lands on the SWP covering approximately 3,300 acres.

Renegotiation of BOLT transaction

Columbus is pleased to announce that it has renegotiated the BOLT transaction as follows:

1. Termination of the existing sale and purchase agreement in return for the following consideration:

a. Payment of up to US$450,000 to BOLT, upon the transfer of the Existing Lease to Columbus (including the rights to the Bonasse field) and the transfer of associated agreements for oil & gas operations on the SWP;

b. Columbus making a payment to Petrotrin of approximately US$80,000 to complete the purchase of a 27.5% interest in the Bonasse field;

c. Columbus relinquishing its 25% shareholding in BOLT;
d. BOLT relinquishing all rights under the Existing Lease;
e. Columbus acquiring access to all oil and gas rights on the SWP;
f. BOLT retaining the loan of approximately US$1.1 million;
g. Columbus paying deferred consideration to BOLT of: (i) US$500,000 upon the deve

[the guardian] 19/3/2018 07:17

Very well structured deal agreed with Bolt. Work to start on Bonasse field in Q2. Drilling in SWP to commence 2019.

[arrynillson] 19/3/2018 07:04

12bn - There is mow a danger - That has become a threat to us all - It is a deadly disease - And there is no known cure - The virus can be caused through intercourse with 12bn - Anyone can get it Man or Woman -So far it's been confined to small groups ( Mainly followers of CERP & KOD ) - But it's spreading - So protect yourself by reading his self confessed unresearched bile as tosh when it arrives - If you don't it could be the financial death of you - After all not many can recover from the advice of only weeks ago to sell at 2p - don't die of 12bn's ignorance!

[the guardian] 16/3/2018 16:44

ccr, there will be people taking out T20s, so don't read a lot into it.

[jcgswims] 16/3/2018 13:21

Just looking back on old videos I can't seem to recall seeing this one before from the 121 conference in December 17, I'll put it in the header with the rest

[ccr1958] 16/3/2018 11:00

So far Cerp has not been a leaky ‘ship’ but I think the share price action over next 2 weeks will tell us what we need to know .....just an opinion.

[the guardian] 15/3/2018 13:40

The other point to note is that the majority of FTSE shares give a dividend, so even if the price doesn't move much, investors are still receiving a reward. In contrast, the majority of AIM shares do not give a dividend and so depend on an increasing market cap or to be pedantic, share price.

[the guardian] 15/3/2018 12:22

nimbidc, I discussed communication with Gordon Stein over the phone and he was of the opinion that it was better not to issue regular progress updates. I told him about AIM workings and that LGO had been a traders favourite and that without more regular communication, it would go the same way again.

At the time, Schroders were buying shares and so the share price was holding but as I wrote on this BB, I couldn't see it holding once they had finished.

We have fallen from 7p to 4.5p. Nothing to boast about.

MMs make their money on the spread and the volume of trades. When volume is low, they make a market by dropping the price. They never put it up to increase interest. Very few people are buying because the last quarter was a disappointment and the real buying wont start until there is enough activity to be worthy of more regular updates.

I have been a long term holder since this was Lenigas and Oil. I don't trade because once I take shares out of a company, I move on, as per BOIL.

[offerman] 15/3/2018 12:13

Hi Holly You're a mind reader.I was actually thinking the same myself this morning . A blessing in disguise. AlsoH-l refused a 10 day settlement period when share price was 5.4 So I'm extremely fortunate and grateful that the two decisions 1st of not getting the money much sooner as I was originally looking to buy a load at about 5.6 thinking that was cheap and then again at 5.3 then thinking wow if I can get on at 5 And here we are today well below that now and as you mentioned earlier today and I mentioned last couple couple days 4 is not out of the question now either on no news. So if all goes well with finances I willHey quite a lot but I won't be investing all but able to buy a good amount whilst retains much more than I thought originally.A very fortunate grateful OM

[holly day] 15/3/2018 10:45

Offerman, now if you use hind sight.....how does 5p look for the major top that you couldn't organise. The way the share price keeps drifting, not much topping up by anyone....not even Schroders. Not a dig fellow LTH. Just shows how unpredictable this AIM malarkey is!

[offerman] 15/3/2018 10:40

Morning Holly, Maybe not, but could reassure the current raft of investors here and maybe some will top up.Remember it was the second half of the year when LK said things could really get going. Who knows, If a little bit better than expected results coupled with any good news then could support or even rise and sustain.Seems natural thought that without news AIM shares do drift down a little. Nothing has changed apart from for the good since he took over nothing has changed. Everything delivered so far

[nlmbidc] 15/3/2018 10:24

Need to pick up the phone to Leo the TG and tell him the AIM facts of life.

[the guardian] 15/3/2018 10:10

If the communication continues as it is, then I can't see us reaching 10p because people will sell on spikes with the result that we will fall back after every quarterly update. I don't want to see this being a shorting candidate again.

[holly day] 15/3/2018 09:55

Chart wise, if no news for a fortnight, 4p looks to be the next support. ;(

[holly day] 15/3/2018 09:54

Sorry, but this mere a quarterly update is unlikely to attract long term investors imo. If any thing, it is likely to create some doubt amongst long termers when they see their investment erode over the 3 month period and consider top slicing or part trading.

IMO, all eyes will be not just the month end update, more so what LIND are likely to do with the release of their escrow quota. Forward selling over the past month or two perhaps?

[ccr1958] 15/3/2018 09:23

I agree, this has got great potential and has been well documented but being an aim stock like this it drifts for very little reason !

[arrynillson] 15/3/2018 09:12

12bn - There is now a danger- That has become a threat to us all - It is a deadly disease - And there is no known cure - The virus can be passed during intercourse with 12bn - Anyone can get it Man or Woman - So far it's been confined to small groups ( Mainly CERP & KOD ) - But it's spreading - So protect yourself and read his posts as unresearched tosh when they arrive - if you don't it could be the financial death of you - don't die of 12bn's ignorance!