Columbus Energy Resources Share Discussion Threads

[holly day] 27/3/2018 12:10

Well, if it turns out to be something to do with SA, I'd be over the moon. Leo will get another tick from me for being ahead of schedule as from the outset he mentioned SA to be added to the portfolio. I'd have thought there were were enough opportunities to raise out production in Trinidad and become the MAIN player long term. So my guess is we'll do a 'smaller' deal in Trinidad, as long as it's done with internal resources and not issuance of shares....

[whiskeyinthejar] 27/3/2018 11:43

Columbus Energy Resources - New Name New Focus

[the guardian] 27/3/2018 11:07

Edgein, I thought maybe Icacos because it is our only asset where we are currently not the operator. If it's something better than that, I will be happy.

Agreed, the big one is most likely to be in South America but which country and when, is more complicated. Venezuela is still being run by a dictator, which leaves Brazil, Argentina, Colombia, Peru, Ecuador and even Paraguay.

From bitter experience, I would steer away from the bureaucracy that still prevails in Colombia and Peru, although Colombia is a little better since FARC stopped stealing oil and destroying assets on the ground. However, they both take forever to agree environmental permits, operatorships etc. Amer seems to do better in Colombia, so maybe they just take a dislike to some companies.

[edgein] 27/3/2018 10:38

TheGuardian,

Hopefully it'll not be that small, if its 50% of Icacos its tiny. Although at 100% interest LK might be interested in drilling it much deeper at some point in the future. But that would come long after he's drilled multiple wells on the main SWP assets from BOLT deal. That's where the 12+ large targets are, not Icacos. The small acquisition could be a field rejuv project in SA, something along the lines of Goudron I hope. Producing say 100-200bopd with upside through interventions. Could even be a new IPSC win from Petrotrin. The 10's of millions acquisition being lined up with the material investors I expect to be decent 2P and production probably south America.

Regards,
Ed.

[the guardian] 27/3/2018 10:24

Only two more dealing days left until the end of the month and end of the quarter. I wonder what the small acquisition is? Could be an Easter egg but more likely to be 100% of the Icacos field.

Mesdames et Messieurs, place your bets.

[arrynillson] 27/3/2018 00:56

Rossannan - Malcy had probably been reading your posts immediately before the meeting with NR so the impressive bit was relative to your Fantasy Oil & Gas Manager/Spin Doctoring for 5 year olds efforts!

[arrynillson] 26/3/2018 14:36

12bn - you need to get your story straight- if you have filtered me why are you peeking at my posts - reminds me of young children who splay their fingers over their eyes when there is a scary bit!

[12bn] 26/3/2018 14:29

Is there anyone who hasn't filtered arry besides northpole2?

[arrynillson] 26/3/2018 14:24

Nimbi - as explained Rosie is in denial on Spain - thinks it might do circa 100/200 bold whereas in recent submission to Spanish Government CERP envisaged 1000/1500 bopd for an outlay of circa 5 million euros!

[nlmbidc] 26/3/2018 13:26

Malcy has just regurgitated the RNS.

Nothing wrong with that.

[offerman] 26/3/2018 13:15

Yep agree Very backward thinking they have down there

[jcgswims] 26/3/2018 13:01

Malcys Blog



Columbus Energy Resources
At long last it looks like CERP are closing the La lora Licences in Spain which will reduce costs substantially, having been paying €60,000 per month they will from now on be paying only €15,000 per month. There must be something in there that has appeal as the announcement goes on to say that following the imminent closure of the concession they are expecting the Government re-tender exercise to commence in Q2/Q3 of this year and it is the company’s intention to participate in such an offer ‘and is open to bidding jointly with a partner’. El Dorado indeed beckons for Leo Koot, the Golden Man of the sector….

[arrynillson] 26/3/2018 12:27

12bn - I don't think you've quite grasped the concept of posting on a public board - it suits my purpose you don't reply to me because I can discredit your posts more efficiently that way. Just waiting for the production figures now 12bn to put the final nail in your coffin of ignorance misrepresentations and lies - I'll miss our exchanges though - but on the positive side it will be like having haemorrhoid treatment without uncomfortable surgery!

[holly day] 26/3/2018 10:07

That 15K will be be covered by the extra $1 on the oil price!

[holly day] 26/3/2018 10:05

I echo the sentiments of others that this is the best way forward. Agree TG the Spanish gov't are one of the worst in Europe. I am prepared to put a small wager that nothing nothing material is likely to happen in the projected next 2 years . I guess it's worth keeping our finger in that 15K/month pie so that we may be able to find a buyer/partner as and when. Ritson remain the last LEGACY issue to be resolved!

[the guardian] 26/3/2018 09:23

Everyone is happy but the Spanish Government could have simply extended the license and avoided all the hassle, not just for us but also their own people. Crazy.

Anyway, well done team. Another cost saving.

I would also like to thank the MMs for operating a wide spread this morning and then conducting all trades in the bottom half of that spread so that all buys appear as sells. Barstewards.

[nexus7] 26/3/2018 09:10

Columbus Energy has completed Spanish redundancies, looks forward to retender

07:59 26 Mar 2018

"We would like to thank the employee representatives and the trade union for undertaking the CDP in a professional manner and for the swift conclusion of the negotiations.”

www.proactiveinvestors.co.uk/companies/news/193765/columbus-energy-has-completed-spanish-redundancies-looks-forward-to-retender-193765.html

[nexus7] 26/3/2018 08:28

From bigdouble Today 07:57
-------------------------------------

VSA
Columbus Energy Resources (CERP LN) has announced that the Collective Dismissal Procedure in relation to the La Cora concession in Spain has been completed. The CDP has been completed within the previously announced time frame and this represents the resolution of another legacy issue which will enable management to focus on the company£s core assets. Additionally, we see this as further evidence that CERP is building a track record of successfully delivering on its outlined objectives.

The redundancy programme which affects 14 employees in Burgos, Spain was formally approved by the Trade Union with a final cost of £410k to CERP. As a result the ongoing maintenance costs at the Ayolengo field have been reduced from approximately £60k per month to around £15k per month.

The formal closure of the La Cora concession is due imminently with a re-tendering process due to begin in Q2-Q3 2018. CERP intend to participate and are actively seeking partners to bid with. This will enable CERP to utilise its resources more efficiently whilst retaining upside exposure.

We reiterate our Buy recommendation and 26p target price.

[nexus7] 26/3/2018 08:14

Business Update - La Lora Concession in Spain
RNS Number : 8209I
Columbus Energy Resources PLC
26 March 2018