Columbus Energy Resources Share Discussion Threads

[offerman] 14/5/2018 11:08

Hi Holly It's all been approved and funds should arrive shortly so I'm told . I won't be purchasing 700k though . I am going to take less risk and keep capital back . Probably between 300-400 extra for me on top of my 493000 I was desperate to get a load more when the share price was sitting at 4.6 and 4.74 to buy as to me it was a no-brainer what with the rising oil price and our production. But the banks were certainly playing a slow ball game. And still have to a point. Somehow I doubt we will see 4.7 to buy again but that's why I was asking about Lind and if they had any more to off load and any more chances as I was wondering if there would be a chance of topping up at a lower price than today's share price

[holly day] 14/5/2018 10:43

Offerman, unless they need the money, I doubt the BIGs are selling any. Leo has merely tidied up the mess so far and got us CF++. I am sure they will be waiting for bigger returns. Long term it's a no brainer. Are you still awaiting the release of your funds for a top up? GL and hope you get in before Rossannan!

[offerman] 14/5/2018 10:37

Thanks again Holly for this next post so hopefully there aren't too many left from them to sale but like others have stated they could be other sellers offloading possibly DL or another large holder maybe one of them Bigs as they have so many they may feel the need to downsize just little bit? All speculation

[offerman] 14/5/2018 10:34

Morning Holly thanks for your reply and good. The question well worth raising to management.

[holly day] 14/5/2018 10:29

Offerman, great this search engine malarkey on advfn... managed to locate my previous post (hadn't realised I had blabbered so much over the last two years!!!!)

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holly day - 15 Jan 2018 - 10:36:01 - 3029 of 4493 Columbus Energy Resources PLC - CERP
Morning offerman.

Coming back to the debate on Friday about LIND's shares....

Yes, as Rossannan and Garhiem have beaten to death as well as confirmed by the company Q&A, the 2.9% stake is in escrow since 23rd Sept for 6 months.

However, my point, perhaps not been made clear, was that they have had several conversions/allotments as per below, which may have been sold since...(extracted from various RNS's):

-- Lind has agreed with the Company that it shall receive the repayment of its next First Tranche monthly instalment in September 2017 in shares, totalling 2,307,692 shares at a conversion price of 3p per share.

-- Upon providing the Second Tranche, Lind will also be entitled to 7,692,308 share options, exercisable at a price 50% greater per share than the average share price for the 20 days prior to the date of award for a period of up to 40 months.

10/10 - 2,512,333 new ordinary shares ("New Ordinary Shares") @4.5p

8/11 - 5,067,242 new ordinary shares ("New Ordinary Shares") @4.5p

Lind also exercised its right to convert a total of US$450,000 of the monies outstanding from the loans into shares at the re-structured conversion share price of 4.5p per share.

..., although Lind retains the exclusive right to convert outstanding debt at 4.5 pence per share at any time of their choosing whilst the debt remains outstanding.
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So the points I would make are:

1. A lot of the shares were issued before the OO and since they rank pasi-passu, would have been entitled to OO allotment.

2. They MAY have offloaded a lot if not all of those in the market since, so it could well be that it was their sales to have caused the share price drift.


I have done some checks on LIND over the weekend, they are renowned in their field of providing finance and MOST of their funding is often converted in to stock. There have also been times when they have ended up with over 10% stake in the companies.

So, we'll find out on or after 23rd March if they have a notifiable interest as the total number of shares allotted to them should be well over 3%.
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The key bit is...

"although Lind retains the exclusive right to convert outstanding debt at 4.5 pence per share at any time of their choosing whilst the debt remains outstanding."


Luckily not much debt left to repay.

[holly day] 14/5/2018 10:16

Anyway, 3 steps forward, two back for the share price Steady she rises!... or is that another stairway to heaven?!!

[holly day] 14/5/2018 10:14

Morning offerman. TBH, it's all academic wrt LIND. At the end of the day, they are merely a loan shark, capitalising on the misfortunes of ailing companies to whom no one else will lend. With Leo's arrival and Schroders joining the party, they stand to make a fantastic return. Short term pain whilst they disappear to another sucker company. Hopefully we will never have the need to seek similar loans due to CF+++++. The fact that share price is holding steady suggests orderly disposal. Only a matter of time when there should a be squeeze on the loose stock. Hope LIND disappear BEFORE we make a MAJOR announcement.

FWIW, I did list the contents of LIND related RNS's a while back. I didn't keep a copy, but recall they had the option to exercise conversion of another tranche (the last one?).... I think it's worth raising the Q with the management.

[offerman] 14/5/2018 09:32

Does anyone know when the second tranch of Lind shares become available for them to sell and how many will they own outright to offload? What date will they be available for them to offload ? Thanks

[the guardian] 13/5/2018 20:17

Hi offerman, yes, I forgot all about Mr Lenigas. I suppose that even he needs to shift money about now and again.

[nexus7] 13/5/2018 15:44

From emilyt16 Today 13:02
-------------------------------------
Malcy



Columbus gets a mention if you listen carefully.....interesting chat..

[nexus7] 13/5/2018 12:18

RE Suriname

And Suriname is one of the most stable countries in S. America.
Nothng to do with Colombia,Venezuela and others narco-countries.

[nexus7] 13/5/2018 12:10

From LGO-fan Today 09:46
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RE: Suriname
he did mention Suriname (and Colombia) at the April investor meeting. And yes, there is the Dutch connection :-)

====================================
From LGO-fan Today 09:49

RE: Suriname
Building on Bamps21's post, please find a link to the website that may be of interest for some on Suriname



====================================
From LGO-fan Today 09:50

RE: Suriname
onshore opportunities



=====================================
From LGO-fan Today 09:51

RE: Suriname

One last post to wet the appetite...

WHY INVEST IN SURINAME?
With an estimated resource potential of 13.6 Billion barrels (P50), the United States Geological Survey (USGS 2012) ranks the Guyana-Suriname Basin 2nd in the world for prospectivity among the world£s unexplored basins and 12th for oil among all the world£s basins £ explored and unexplored.

[nexus7] 13/5/2018 12:00

From Bamps21 Today 09:21
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Suriname
Suriname is an exploration hotspot according to the US geographical society. Exxon have found 2bn barrels of reserves off shore, Statoil are also there. The government company controlling the industry is called Staatsolie and they are currently working with American companies onshore such as Apache Corporation. Let's hope CERP gets a look in esp with LK being able to communicate in his own language

[offerman] 13/5/2018 09:28

Or DL himself

[offerman] 13/5/2018 09:28

Morning TGMaybe one of the Bigs?

[the guardian] 12/5/2018 22:41

Schroders buying 4 million over and above any possible LIND sale has done nothing for the sp, so it does seem reasonable to think that we have another large seller, but who is it? What happened to all the shares that Ritson dished out as payment to the previous drillers and contractors?

[nexus7] 12/5/2018 17:38

Oil prices could hit $100 a barrel next year, Bank of America says

Is $100 oil on its way back? Bank of America thinks so.
The bank's analysts wrote Thursday that collapsing oil production in Venezuela and potential export disruptions in Iran could push the price of Brent crude as high as $100 per barrel in 2019...

[nexus7] 12/5/2018 16:55

From philipy Fri 14:49
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Lin vs Schroders

It has been suggested a number of times that for some while now, Lind have been selling and Schroders have been buying, and that is what is keeking the share price reasonably stable at around 5p. So I decided to have a look at the figures to see how long it might be before we got to the end of the Big Boys Two-Step.

Schroders bought 60,000,000 when they originally bought in last September/October. The RNS of 25th April showed a total holding of 92,191,618 = a total open market purchase of 32,191,618 ( plus any they've bought in the last couple of weeks).

Now it gets interesting:

Lind had 7,692,308 share options, plus 2,307,692 for the monthly payment last September, plus 17,992,308 "escrowed shares" (now available) which makes a grand total of 27,992,308.

That means that Schroders have bought over 4 million more than Lind had in total, even if they sold them all. Which makes it look as though there is another fairly sizeable seller in the picture as well, OR, I'm wondering what, if anything, I've missed in this calculation?

[arrynillson] 12/5/2018 14:45

Ross - re your comments on Lind do you think it's about time 12bn changed the strap line on his thread - on second thoughts he likes living in a time warp!

[the guardian] 11/5/2018 12:26

Reminds me of the LGO days when there was just a sudden deluge of sells. Almost looks organised.

[nexus7] 11/5/2018 10:22

Our neighbors in distress

PDVSA Learns That Conoco Pain May Be Worse Than U.S. Sanctions

► ConocoPhillips takes over Venezuela’s Caribbean oil assets
► Exports curtailed as PDVSA unable to access storage tanks

ConocoPhillips may finish what U.S. sanctions started.

[nexus7] 10/5/2018 19:24

From CERP tweet posted above by geoff

#SouthWestPeninsula

[the guardian] 10/5/2018 15:53

Interesting, so sticking with Trinidad for now. I wonder why the company doesn't just use its cash to bring forward the first drill on Bonasse. The price is stale because the production is stale. Leo would need to buy out a company with producing assets in order to get the share price moving.