Columbus Energy Resources Share Discussion Threads

[nexus7] 14/6/2018 14:37

IEA: Oil Prices Could Rise Further As Shale Can’t Fill The Gap

U.S. shale will continue its breakneck growth rate into 2019, despite bottlenecks, but the oil market still faces serious supply risks from the potential losses from Venezuela and Iran, the International Energy Agency (IEA) said in a new report.

The IEA said that the run up in oil prices in the last few months dampened oil demand growth, although the agency left its forecast for oil demand growth unchanged at 1.4 million barrels per day, after downgrading that estimate last month. Subsidies and price regulation in a growing number of countries, intended to blunt the impact of rising fuel prices, could keep demand growth on track, despite oil prices trading significantly higher than, say, a year ago...

[12bn] 14/6/2018 13:08

Just received an alert from my crystal ball,the bid of 4.70p is about to go. Yours ever helpful mystic 12bn.

[nexus7] 14/6/2018 11:49

From LGO-fan Today 07:28
-------------------------------------
from the AR

Why have you chosen South
America as the next expansion
area for Columbus?

It has the same operating environment in Trinidad
with an established oil supply chain. The reservoirs
are part of the East Venezuelan Basin and we
understand the geology and exploration potential.
It is therefore no surprise that we are looking at
opportunities in Trinidad, Colombia, Guyana,
Suriname and Venezuela.

[offerman] 14/6/2018 09:23

Morning EdThanks for the correction about my incorrect terminology. I thought that's what I heard somewhere before that it was called an aquifier but obviously I'm wrong thanks for the correction. I'm glad you understand what I'm on about though with light oil feeding the main Goudron field . And yes definitely would be worth a visit later PENDING whether we can obtain the license rights to those depths.

[12bn] 14/6/2018 08:38

rossannan14 Jun '18 - 08:23 - 4813 of 4813
0 0 0
Edgein

You omitted to mention that they don’t in fact have the deep rights at Goudron.////// I wonder where rossannan got the idea for that post from? It couldn't be from my post above could it? LOL

[12bn] 14/6/2018 08:17

Good post from Edge./////Edgein14 Jun '18 - 08:03 - 4812 of 4812
0 0 0
Offer,

If only that were true:

"What I like ED is the Goudron aquifer is simply massive too. Feeding Goudron with first rate API"

If they had a aquifer in Goudron they wouldn't need waterflood nor pressure support, its the lack of an acquifer or natural water pressure support that's lacking in most T&T fields therefore they need water or gas injection etc.

I think you're referring to a larger light oil field producing light oil below goudron, not an aquifer. Yes there could well be a massive light oil accumulation much deeper below Goudron that's reached its spill point or has an incomplete seal somewhere on the structure that's leaking oil into Goudron over millions of years. Its really the only explanation for the API of the oil at 1000ft which should be more like 8-12 degrees API rather than mid/high 30's. Whether its directly below Goudron they'll know from the seismic. If they spot a massive anticline down there it'll be incredibly tempting for management to target in future wells. Deepening of Icacos or Bonasse will also be interesting depending on how far they intend to go.

Regards,
Ed.////// I have thought the same for many years,the API for Goudron oil does suggest a source reservoir deeper down in Goudron but isn't Cerps/lgos IPSC licence only to drill to a limited depth? Was it 6000 ft there? You also have to consider the risks of drilling to greater depths,the higher chance of losing the drill bits etc. Deep drilling although risky could be a game changer though.

[edgein] 14/6/2018 08:03

Offer,

If only that were true:

"What I like ED is the Goudron aquifer is simply massive too. Feeding Goudron with first rate API"

If they had a aquifer in Goudron they wouldn't need waterflood nor pressure support, its the lack of an acquifer or natural water pressure support that's lacking in most T&T fields therefore they need water or gas injection etc.

I think you're referring to a larger light oil field producing light oil below goudron, not an aquifer. Yes there could well be a massive light oil accumulation much deeper below Goudron that's reached its spill point or has an incomplete seal somewhere on the structure that's leaking oil into Goudron over millions of years. Its really the only explanation for the API of the oil at 1000ft which should be more like 8-12 degrees API rather than mid/high 30's. Whether its directly below Goudron they'll know from the seismic. If they spot a massive anticline down there it'll be incredibly tempting for management to target in future wells. Deepening of Icacos or Bonasse will also be interesting depending on how far they intend to go.

Regards,
Ed.

[12bn] 14/6/2018 07:58

Garnheim80,even with a JV partner I don't think Cerp could afford a 12000 ft drill but I am not up to date on the costs of such a drill (but years ago it was speculated to be $15m-$20m). The risk of such a drill failing is also high,the one in the 1960s failed. Having said that I do accept that a successful deep drill to 12000 ft COULD be a game changer for Cerp/LGO.

[offerman] 14/6/2018 06:09

Just want to say thank you everyone .Some really good debating posts here over the last few days . Song great ideas, great questions as to how we will raise the monies for big acquisitions. - issue more shares- percentage giveaway of partial license maybe SWP if we strike big- debt equity capital raise- partnershipI'm sure LK will do a good deal for shareholders . It's very rare to have a good director who has the shareholders at heart on any index let alone aim casino. Ideally I'd like to see if we can find shallower oil on SWP possible good indicator for deeper down three targets in one well. 3 chances for the price of 3-4 m. If we hit one of the three then great. If we hit all three zones then orbit. Then not forgetting 14 of these possibilities too. Each could contain 20-400 mboSay rec 15-20% So hit shallower zones, of trumps then drill deep well alone. If deep well fails then look to make acquisition then extra production will allow to drill the next zone .

[nexus7] 14/6/2018 01:12

From LGO-fan Wed 21:21
-------------------------------------
RE: Twitter
Yes, to make people aware of the AR....the full document in an 80-page beauty.

[h van der h] 13/6/2018 21:57

I suspect the big big deal will depend on other success, namely SWP.. That could be next yr or yr after.. but personally I’d not like it to happen (due to likely shares issue involved) until we are at greater share price levels.. you just never know though.. I see the Ipsc as an achievable deal at our current range... may all turn out to be pie in the sky though lol.

[carpadium] 13/6/2018 21:35

It could though triple existing production in affordable manner, that should warrant certainly a sizeable deal and a huge, fast step up the ladder.

[h van der h] 13/6/2018 21:30

Probably not “big” 10’s million deal he referred to. But I would be expecting that to materialise until many multiples of share price from now. Yr 4/5 maybe?

[carpadium] 13/6/2018 21:04

Perhaps a fair chance that this was the big deal LK hinted at in March ... roughly three weeks after A&V lost their contract and appeal.

[brasso3] 13/6/2018 20:59

TG

I think the VSA target of 26p has to be taken with a pinch of salt as they are the house broker. There is no way CERP can make a large acquisition without issuing shares IMO.

[h van der h] 13/6/2018 20:56

Agree. To buy anything of great value can’t possibly be on the cards yet, to early in the plan and I’d hope LK would want the share price to be multiples of current level to reduce the percentage being traded in .. that’s why another IPSC sits well. We just get paid to produce, simples. In turn that doesn’t take away the focus from the main event SWP. And with a higher production would aid the coffers

[the guardian] 13/6/2018 20:35

h van der h, something like that would be ideal. An additional 1000bopd from the off.
......................................................................................
I must admit that whenever I consider the stated 'multiples of the current market cap,' I get very confused.

Current share price 4.75p 649.21 million shares in issue Market cap £30.84 million

Total fully diluted shares as at the end of April = 751,519,330

VSA talking about a 26p target price. 751.519.330 * 26p = £195.395 million market cap = six times current market cap assuming no further shares issued.

How do we raise for example £50 million without giving guarantees in the form of shares, options or warrants and how would a £50m purchase increase our market cap by an additional £165 million?

OK, say the market perceived future value from the purchase at 26p then we still have the question of how would funding be achieved without share dilution?

[h van der h] 13/6/2018 19:40

“The Company wishes to complete at least one other material M&A deal in 2018 and is using the following screening criteria:
• Caribbean or South American
• Onshore
• Proved hydrocarbon province
• Assets close to existing infrastructure
• Operatorship
• Assets suitable for rejuvenation and exploration or appraisal/development upside”
I wouldn’t rule out another IPSC with petrotrin! It’s on the Value creation opportunities slide from agm..Petrotrin are coming under pressure to keep hold of the country’s oil fields after the A&V debacle... I know I’ve said this once or twice before but Catshill and Moruga East fit the bill perfectly, they’re practically next door, need well whispering, 1000bopd ready to bolt on from the off... and best of all It is the intention of Petrotrin to re.issue the recently reclaimed Catshill and Moruga oil fields from A&V to another private oil company. If LK really wants to go it alone on SWP we need another income, Goudron pays the running costs of the company and leaves enough to reinvest to maintain the field, bonnase is an unknown atm and not able to fund future drilling yet..imo.. are we the partner of choice in Trinidad ? Taking on another IPSC would be cheaper than acquiring another company for share holders, and could be done via a similar deal to schroders.. time will tell.

[the guardian] 13/6/2018 19:29

Welcome back edgein.

Noticed this article this morning.



Colombia may or may not be a good place to make an investment until the politicians have sorted themselves out. As I have said before, the bureaucracy in Colombia is abysmal. It can take over 18 months just to get a permit.

[offerman] 13/6/2018 19:21

Nice post Ed. Like yourself my mindset is if one of those prospects come in at top end with 30-40 REC also noting that 100% CERP no ipsc on these then yes I can't see why that wouldn't add significantly 300m to MC A heck of a lot to play for and surely one of these has to come in.AlsoWhat I like ED is the Goudron aquifer is simply massive too. Feeding Goudron with first rate API So what's your take on this ? Personally I think if SWP goes well then get in to aquifer once / if they can obtain full rights ...