Columbus Energy Resources Share Discussion Threads

[offerman] 13/6/2018 19:17

Jaffa, I sold out to early with GKP.

[jaffa14] 13/6/2018 18:06

Oh if only CERP would do a GKP. I road the wave from 12p right up to 465p then back down again unfortunately - greed got the better of me. I'll know better next time, I hope ;) Bring it on CERP.

[edgein] 13/6/2018 18:04

Offer,

As I said earlier, CERP has practically no debt and around 11mmbbls of unencumbered 2P. As well as any 2P added from any potential acquisition. That gives them room for debt funding of acquisitions. As I said in my earlier post a material investor will want some equity too. The accretive part will be the development/redevelopment of the material asset to give the transformative growth phase that according to LK we're now in. That is due before H1 '19. The East Venezuela basin is prolific in terms of discoveries. Yes multiple of these targets with modern seismic/3D could come in for CERP even if you use a really modest recovery factor of 40% for intermediate or light oil they're big reserve numbers on 20-400mmbbls STOOIP prospects. We should be looking at 500-1700bopd per well for Herrera if they come in similar to Vene. We might also get a couple of hundred bopd for the C sands or GM in those wells. But cannot count chickens with expo. But the acquisitions you can be more certain on. If that biggest prospect came in with 400mmbbls in place that could add £500m to the cap alone.

If they were to make a large discovery it may well come after the first acquisition. For example Crown Point bought AEY's argie assets for around $20m and they produced around 1700boepd. If they do a similar deal to that in '18 there's no reason why they couldn't do a multi well campaign in the SWP in '19. 2-3 wells. Obviously it won't be in Argie as that's not in LK's current range of acquisition countries. Colombia is the most obvious as multiple fields there will suit both LK and SA given their experience in waterflood and EOR and their criteria given in that 80 page presentation.

We'll just have to wait and see. If LK is confident they can sign off on a value accretive acquisition in '18, great lets wait and see the details of that before looking at the SWP drilling next year.

Regards,
Ed.

[offerman] 13/6/2018 16:17

Hi Ed Now 2-4 years , time is going very quickly . I see both sides. No doubt there will be dilution to grow us much bigger and more than 500mc as LK mentioned . However we need to spend to grow . Acreative will be selling part of or all SWP for massive gain if it came good to big oil . If we do a retainer then good too. I don't see why we can't reach 50p and I know Ross often said to me that's could still be far too high. Maybe so maybe not .On flip side how many of the 14 targets could have oil ? What if ten of them did each between 20mboip to 200mboip First drill hits big oil , go alone . Then find FI to drill the rest but at a considerably good deal free carry on 3m$ x13 and so on . Each identified has 3 target zones . I saw gkp shoot up on a oil strike at shaikan why can't the same happen here . Albeit not to the same levels as gkp. Whilst 80p seems far out but what if major oil finds and strong sentiment . If not then 50p still perfect for many here.

[garnhiem80] 13/6/2018 15:54

I meant GY156 😂

[keiwi] 13/6/2018 15:35

Bring back Neil, at least he had the decency to talk to us. Leon hasn't, he is showing his arrogance after all the enticing love talk. IMHO we fell for him in haste..... just hope it doesn't mean a quick divorce, I don't want to be paying out more settlements, I'm paying enough already....lord help us

[keiwi] 13/6/2018 15:20

...you can't do as you're told can you, spout your tripe elsewhere or can't you understand when you are not wanted...talk about THICK!!!....not you Arry, at least you have a brain :)

[edgein] 13/6/2018 14:52

Roseann,

That statement means what it says.

Regards,
Ed.

[edgein] 13/6/2018 14:29

Roseann,

Who mentioned there won't be equity, these material investors that LK is talking to won't just give him money for a small % interest on debt. They'll want a piece of the action. CERP is practically debt free and $20-90m will go a long way in the likes of Colombia. The only one mentioning 80p per share is you. I wouldn't rule that out though as they're also talking about drilling SWP, fully funded 100% wi, as well as material acquisitions the first of which they're confident they can complete in '18 according to the RNS yesterday. LK said he was targeting a £500m company, I don't remember him saying he'd stop there though. That's his target within the next 3-5 years.

Regards,
Ed.

[edgein] 13/6/2018 13:56

Oh my Roseann,

You're prolific today. Nice try and deramping slippery Roseann. Multiplying the market cap will mean multiplying the share price you dimwit. You understand the meaning of value accretive I guess. I assumed you did, but probably assumed too much.

Vike,

You should listen to that interview again, LK said he would get in material investors, he did for many years run a subsidiary of the Abu Dhabi national energy company. He'll not be short of contacts. There is such as thing as RBL too, don't tell Roseann he doesn't realize that either. CERP have debt of around £600k at present.

Regards,
Ed.

[garnhiem80] 13/6/2018 13:51

Just below the gas string found in the field! I wouldn’t expect a sidetrack from GY678!

Maybe a re-entry/re-pipe GY50 nearby?

[arrynillson] 13/6/2018 13:42

Ross - why is it so important for you to reply to Keiwe when you have filtered shedloads of other posters who comment on CERP without a response from PC Ross!

BTW Ross post number 12 made you appear slightly unhinged mate!

[keiwi] 13/6/2018 13:24

stay off this(my)thread ross please, you are not welcome. Anyone on other threads who are happy to pay to look at a load of unrequested guesswork and or codswalop I would suggest the filter button cos you're paying for never ending rubbish.... IHMO.

[h van der h] 13/6/2018 12:53

does anyone know how deep down the blockage was?? that could determine how viable a re-work could be. deep enough to use initial well then divert creating a new bottom would be less risk, similar to what is possibly planned for bonasse wells

[garnhiem80] 13/6/2018 12:18

If you go back even further.. you may find a slight indication on GY664 too.. the section wasn’t completed b’cause of something along the lines of different pressures between sections?