Columbus Energy Resources Share Discussion Threads

[garnhiem80] 05/6/2018 21:14

13th September 2017

“I believe the major changes in both leadership and strategy, late in the period covered by the Interim Results, will provide a new foundation for Company growth, with the main emphasis of senior management being on increasing oil production and revenues in Trinidad to a level of around 550 bopd before the end of 2017 and 900 bopd by end of 1H 2018. The increase in production, which I am confident can be delivered from existing cash resources, together with the additional revenues from those increases and the cost savings which have already been implemented in London, should allow the Company to be cashflow positive in late 2017. This cashflow positive position, together with the additional funds which Lind Partners, LLC have now committed to provide in Q4 2017, will enable the Company to accelerate, implement and internally fund a number of new initiatives to grow production, including the additional Goudron waterflood pilots and well optimisation work. I am excited by the numerous operational initiatives that have already been identified in the past few months, a number of which have already been implemented on the Goudron field with some success.“

Most importantly, the additional funds will enable the Company to progress towards implementing its hugely exciting exploration programme on its South West Peninsula ("SWP") assets. It is now the Company's view that it should be in a position to internally fund the first few exploration wells on our SWP portfolio without the need for a partner to jointly fund the programme. Whilst Columbus may still look to source a partner to farm-in to the SWP programme, as a means of de-risking and potentially speeding up the programme, this is no longer considered to be an essential requirement to unlock the huge potential the Company sees in the SWP portfolio and, subsequently, to potentially deliver transformational growth in the medium-term.”

[the guardian] 05/6/2018 19:01

Not sure if demand is now outstripping production or if Trump simply wants to wield control over the price of oil. I'm sure that the US shale producers would prefer prices to stay high.

Trump: Increasing production by one million barrels would be a good thing, it would be a very good thing. Yeah, I would like to see it increase. That would be really good.

[geoff0458] 05/6/2018 16:23

Looks like a shortage of oil!

[arrynillson] 05/6/2018 14:42

holly day - I have found the BOD make good calls once all the information is properly presented to them.

Life without NR has almost certainly been considered - we will know more IDC.

[holly day] 05/6/2018 14:24

...and another interesting bit from that rns...

Leo Koot has agreed to receive half his fees for the first 12 month in the form of Company stock to be issued at the end of first year at a price of 2.2p per share being the price at the time of the last placement in March 2017 and broadly equivalent to yesterday's mid-market closing price of 2.18p.

In addition, Mr Koot will be granted options over the Company shares as follows:


3 million shares strike
at 2.2p vesting at 4p
3 million shares strike
at 4p vesting at 8p
3 million shares strike
at 6p vesting at 12p
3 million shares strike
at 8p vesting at 16p
3 million shares strike
at 10p vesting at 20p


First 12 months are up...Leo now getting paid in real money..

[holly day] 05/6/2018 14:15

From the RNS of 10th may 2017: Leo said...


"I would like to thank Neil for his dedication and commitment to the role over the years and on behalf of the Board wish him all the best with his next endeavours."

At the request of the Board Neil Ritson will remain available as a Senior Advisor to the LGO Board for a period of at least 12 months."


So, may be the next rns will include a statement re NR's position.

[holly day] 05/6/2018 14:09

arrynillson, I can see where you are coming from re. NR and continuity in Spain. But, I'd have thought after the handover period, the new management would have a better clout (through experience and expertise) to manage the re-tendering process. Seems wrong to tie up salary on an individual for what could become a very tedious exercise.

[arrynillson] 05/6/2018 13:53

6cer - Tony Hawkins appears to be captain of the Spanish pedalo according to last rns but once the tender situation was finalised it was known we would be in for a long haul - hence the redundancies.

NR mismanaged this company but i understand why it is beneficial to keep him onside.

[6cer] 05/6/2018 13:09

Thank you arrynillson re Ritson. If he's still on the payroll then no doubt he will drag out negotiations in true aim style and buck rake the situation.

[arrynillson] 05/6/2018 13:00

12bn - thanks for your concern about Schroders possibly reaching their limit - the fact they are in here at all gives investors confidence - they can sell but a huge dump is unlikely due to adverse effect on the SP!

Investors here are now focussed on production and the upcoming figures - you seem to have stopped talking about production since it was demonstrated you get it wrong so often 12bn!

Investors here are also wary of your market advice following your tip to sell this at 2p only weeks ago and buy KOD - down hugely since and still falling today - you'd better get back on that board to try and convince more people that sells are buys and the share price fall is the mms not reading the market as well as you ROFL!

[holly day] 05/6/2018 12:38

Rossannan, I look forward to the next two RNS's to judge how well Leo is managing the finances. Like TG, I am over the initial euphoria of Leo's arrival....as is the share price Not sure about his mantra of 'understate / over achieve' yet as he is still at the low end of the production graph and the deal that should've been wrapped up 'soon'....nowt.

[arrynillson] 05/6/2018 11:52

6cer - not seen rns or company info suggesting he is off payroll. FWIW I believe it's likely he will stay until Spain is resolved as he is director of the Spanish subsidiary and continuity is believed to have value.

CERP need clean closure in Spain to avoid liabilities - hence the intention to bid - which will be a win even if we lose!

If we win IMO the investment will be very worthwhile for the company either in increased production or sale of subsidiary.

[6cer] 05/6/2018 11:31

Is Ritson still on the payroll ?

[arrynillson] 05/6/2018 11:08

TG - incisive observation about Rosie!

Chat boards are just that and most people venture an opinion on various scenarios, sometimes backing their opinion with reasoned argument.

Rosie made much of the interchange between LK and NR in the first media where NR interjected about Spain as he knew LK hadn't yet grasped the full realities of that scenario - Rosie put a completely different spin on it and was made to look naïve and foolish - since then he's been most reluctant to talk about it - leading to suggestions he is in denial!

Most people accept they can be wrong sometimes and move on - for Rosie that seems to be extremely difficult which seems to be the reason he falls out with so many here and on LSE - the exchange with Keiwe last night was how most end up sooner or later!

[the guardian] 05/6/2018 10:10

Didn't you know that rossannan is Leo's subconscious mind?

[holly day] 05/6/2018 09:54

Rossannan, your "LK seems to be very cautious, surgical and cost conscious when it comes to WF" I note you used three adjectives to describe LK..... WHEN IT COMES TO WF.

How do you derive that? IMO, he's not given that much away about WF, in fact, I'd say in the context of the work in hand, it's a slow burner. Nor do we know the associated capex.

I recall discussing WF earlier and mentioned RRL as an example and you cited their ROI. Now you seem to be suggesting LK has a magic formula with no figures to back that up??

[12bn] 05/6/2018 09:02

What is important in the series of posts above is not that I was correct,or even that it shows how sneaky northpole2 is but the point about Schroders. I fully expected them to play the 'old King Cole' game and march the share price back up the hill but they don't seem to be doing so,WHY? Have they reached their % holdings maximum? If I was a holder then I would be very worried about this development,as without Schroders buying I would expect the share price to drift down to 4.5p or even lower.

[12bn] 05/6/2018 08:56

12bn1 Jun '18 - 08:46 - 1007 of 1016 Edit
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I have consulted my crystal ball and it looks like the bid will drop from 4.90p today. Yours mystic 12bn.
12bn1 Jun '18 - 08:56 - 1008 of 1016 Edit
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08:43:14 4.9000 3,266 O 4.9000 5.0000 Sell 0 103,266
08:26:46 4.9000 100,000 O 4.9000 5.0000 Sell ///// The trades and my crystal ball point to the bid falling today,which I did not expect. I thought Schroders were playing the 'old King Cole' game here of marching the share price to the top of the hill and marching it down again. Maybe they have reached their holdings limit and cannot buy more,who knows? Yours mystic 12bn.
arrynillson1 Jun '18 - 09:07 - 1009 of 1016 (Filtered)

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12bn1 Jun '18 - 10:51 - 1010 of 1016 Edit
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Thar she blows cap'n. Good old mystic 12bn,correct again.

[12bn] 05/6/2018 08:55

Northpole2,my prediction that said that the bid would drop from 4.90p today,on the 1st June,was in fact correct,it dropped to 4.80p! At no point did I say that the bid wouldn't rise again. It is amusing that on the 4th June you try to say I was wrong,very sneaky!

[ccr1958] 05/6/2018 08:39

My other oilers having a good day ,expecting a tick up .

[12bn] 05/6/2018 07:49

Quality discussion on keiwis thread I see.///////rossannan4 Jun '18 - 17:56 - 9 of 12
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Keiwi

What is it that I’m saying that you disagree with? Just let me know and we can cycle the conversation back round to CERP, which might be more productive.
Keiwi4 Jun '18 - 20:41 - 10 of 12
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...what a thich skin you have R, nearly as thick as your mentality
arrynillson4 Jun '18 - 22:06 - 11 of 12 (Filtered)

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rossannan4 Jun '18 - 22:36 - 12 of 12
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Keiwi

Do you want to talk about CERP or not?

[nexus7] 05/6/2018 01:51

From DeanVM Mon 12:07
-------------------------------------

RE: Buying opportunity

Columbus Energy Resources PLC

Consensus recommendation
As of Jun 01, 2018, the investment analyst covering Columbus Energy Resources PLC advises investors to purchase equity in the company. This has been the consensus forecast since the sentiment of investment analysts improved on Feb 08, 2016. The previous consensus forecast advised investors to hold their position in Columbus Energy Resources PLC.