Columbus Energy Resources Share Discussion Threads

[nexus7] 15/8/2017 15:58

From Legalease post (My post #362)
------------------------------------

By decreasing the pressure at the bottom of the well (by lowering bottomhole flowing pressure, or increasing drawdown), significantly more oil can be produced from the well when compared with natural production. The pumps are typically electrically powered and referred to as Electrical Submersible Pumps (ESP)." Is this the type of technology he is referring to? Circa £100k a pop if he is.
---------------


… Below approximately 400 B/D, power efficiency drops sharply; ESPs are not particularly adaptable to rates below 150 B/D.
So our team may be working by now on it since they should not ask any permits to install these pumps.

[nexus7] 14/8/2017 16:32

From stag1974 Today 15:35
-------------------------------------

Venezuela oil asset

The rising volumes of Venezuelan crude that Rosneft receives have made the Russian firm a middleman in sales to refiners that once bought directly from PDVSA. The oil payments have also helped Rosneft grow a major oil trading business to complement its massive production apparatus.

In the process, the Russian firm has appropriated some of PDVSA's hard-won international supply deals and valuable trading relationships with refiners as far afield as China, the PDVSA documents show.

At today’s prices, the Venezuelan oil exports that flow to Rosneft would be worth about $3.6 billion annually. And the flow of PDVSA crude to Rosneft is expected to keep increasing, according to the internal PDVSA documents.

Most of it is sold into the United States, according to the documents.

Rosneft also will soon start selling Venezuelan crude to India’s refiner Essar, taking PDVSA’s second largest customer in the Asian country.

"Russia is taking everything they have," said an oil trader who regularly deals with PDVSA.


rosneft buying oil and goldman buying bonds in oil what's not to like about Venezuela

[offerman] 14/8/2017 11:02

Good posts gents. Let's hope next update in month or two brings renewed optimism. I do like LK. I did say that too about NR. LK does seem the right outfit along with his support team.

[the guardian] 14/8/2017 10:00

Baron Oil / GOO ran a well for many years at a steady rate of about 300 bopd after installing a submersible jet pump. A pump reduces the pressure imposed by the oil in the well head itself so that as long as the permeability is there, the oil will flow much easier without the need for water injection. I would guess that in our case, the decision to run permanently with a pump or replace it with water injection will depend on the flows achieved and the economics of change.

[nexus7] 14/8/2017 09:02

From get_rich_quick Sun 13:06
-------------------------------------

Cost of electric pumps.

I presume LK is going to have to visit his local electric pump rental shop and place an order for 1,2,3....4 pumps?

I'm not quite sure if the plan is to place 670 and others on electric pump for a short, interim measure or if this is his long term solution.

I'd be interested to know the cost of these pumps are.

One should imagine they're no where near as expensive as a $500k Ritson well but then again, I wait to see what the cost / Bopd increase is for this tactic, - as opposed to the Ritson pin cushion drilling style.

Once those figures are known then we can measure the old / new style, and then we'll all know if LK is the saviour that we've been waiting for.

[esmerelda] 13/8/2017 17:06

Well Ross you know that Trin sold 190 bopd assets for $4.45m. Double that and you have more than CERP's current output but CERP is capitalised at more than $15m. Now I appreciate we need to put some value on potential/reserves, etc but the Trin sale suggests to me that CERP is fairly priced nearer to 2p than where it is today. I appreciate others will different but they never show the calculations behind their price. If trade sale prices justify a price tag of 1.5p, the rest of the valuation is based on future promise which is more than a year away IMHO.

[dodge city] 13/8/2017 08:48

When Koots says CF+ in Q4 he shows what a clown he really is.

It is taking 3 months to just get a permit.

[esmerelda] 13/8/2017 04:09

You make a good point dodge about Range's water flood programme that has been ongoing for a year but not yet with significant results. That's not to say it won't come good but that timescales regarding water flood success are measured in years not months. I think the current price has expectations that can't be met built in and will suffer as reality hits.

[dodge city] 12/8/2017 23:54

Ross,
From what I understand the Trinidad authorities want companies to do more drilling not waterflooding, so to get permission for waterflooding Koots might be forced to commit to more drilling.

Range are doing both and don't seem to be having great results so far with their waterflood campaign which has been running for almost a year.

[nexus7] 11/8/2017 15:25

From joebop Today 14:01
-------------------------------------

RE: Bing Bang Bosh

Alot of action from the other listed oilers in trin today.

Interims from touchstone. "The Company will provide an operational update when all new wells have stabilized with at least 30 days of production data." That's what i like about these guys. Quickest flow data they released was a 17 day average. IPR's no good. IP30 all the way.

From Q2 update "In the second quarter of 2017, the Company drilled and completed two wells (CO-368 and CO369) on the Coora 1 property. Both wells are currently on production (100% oil)."

Range buying assets off Trinity. " acquisition cost of US$1.75 per 2P barrel;" Shallow offshore. 200bopd.

[dodge city] 11/8/2017 15:07

Apart from filling in a form to carry out waterflood, Koot has done nothing since May.

What does he find to do with himself all day long.

[nexus7] 11/8/2017 09:38

Oil Futures Point To Higher Oil Prices


The EIA reported another strong week of inventory declines in its most recent data release, revealing a drawdown of 6.5 million barrels for the week ending on August 4. That means that the U.S. has now pulled more than 60 million barrels from storage since inventories peaked in March at 535 million barrels...

[the guardian] 11/8/2017 08:13

I assume that the above proverb does not apply to pigeons!

[carpadium] 11/8/2017 08:03

TG, well we all know LK's reluctance to RNS progress, I believe his favourite proverb to be...A bird does not sing because it has an answer. It sings because it has a song.

By Q4 we should hear a full orchestra!

[the guardian] 10/8/2017 19:34

This share is so undervalued that I can't wait for the day when the revised strategy starts to pay off. Sorry for that carpadium but in return, I will give you a couple of lines I read today with regards to the North Korea v USA.

A man who walks in bare feet does not fear the man who wears shoes.

[tmmalik] 10/8/2017 18:25

Strange pattern from last few daysSomething cooking Nd getting ready 4p jump

[12bn] 10/8/2017 07:00

rossannan9 Aug '17 - 21:42 - 126 of 126 0 0
dodge

LK has occasionally slipped into rampy nonsense in interviews //////PMSL at that,that is a big understatement if I ever heard one,he is a bigger ramper than NR ever was.

[dodge city] 09/8/2017 15:47

It's true that the market cap is low so the downside is limited.

Good news should see an upward move, but Koot has been over optimistic about short term outcomes imo.

The timescales he has quoted are not realistic and I can't seem them making CF+ this year.

Failure to achieve targets and delay is bad news for the share price so setting unrealistic objectives is not a good move.