Columbus Energy Resources Share Discussion Threads

[jcgswims] 27/7/2018 07:03

Leo on LSE

[arrynillson] 26/7/2018 23:44

Rosie - glad you cleared that one up! Have you found time to watch the AGM media yet or have you been too busy posting your interpretation of the rns on here and LSE?

[brasso3] 26/7/2018 20:29

News at SOLO today. I'm sure share holders will be pleased to see the back of him!

Solo (AIM: SOLO), the natural resources investment company focused on acquiring and developing a diverse global non-operated portfolio of strategic oil and gas assets, today announces the proposed appointment of Alastair Ferguson as a non-executive director and Chairman-designate of the Company following the proposed retirement of Neil Ritson as Director and Chairman. The appointment is subject to the completion of Director checks by the Company's Nominated Adviser.

[the guardian] 26/7/2018 18:22

Offerman, tick. :-)

[offerman] 26/7/2018 18:14

Good evening TGI agree with all of that that makes complete sense good logical thinking. Think Leo just got excited in the beginning with Goudron because of the initial improvement in results back in September which then we audit after that presentation webcastBut as time has gone on Leo has learnt that it's very difficult and as you mentioned with the sand problem . He has stated on a few occasions before about your equipment being brought in but that didn't appear to help resolve the problem as yet. Mentioned that they are getting on top of it indicating it will improve well time will tell we will see at the next update. It is good to diversify as he has done and like you say how do we know the same issues won't be replicated with the other licenses. Once again time will tell on those but I haven't heard anything to do with sand being a problem with the current production from some of those licenses. Thanks for the update on Lind that is great to know and it's probably the work of the DL and NR wanting to keep negativity around as probably a bitter pill to swallow for them both someone has come along knows what he's doing and doing a far better job. But where they have been selling I also believe has been keeping the share price down as the M&Ms know they were selling and can sell at a lower price to then be sold on further up the scale to other investors. Exactly given myself and other people a top chance at the lower levels. And I do believe at the year-end share price will be in the 6to7p range my own prediction. I think end of year production will be 850-950 bopd. When I listen to the AGM and the proactive investors interview I feel extremely confident in the company and Leos teams abilities. Course there will be bumps along the way of course he got excited as did the rest of us by the initial findings on the rejuvenations wells which has not panned out as good as thought. But it has given us the extra cash extra clout to use that as security for other loans and issuance of shares going forward for the other licenses. I can't see Goudron getting to 2000 barrels of oil a day though . Ideally I would like them to investigate what lace beneath Goudron and get production from there as the Cashcow . Maybe the sand won't be a problem that far down and a oil is such good API Who knows what the flow rates could be from that. And how much is below as Leo reckoned in the very beginning he said far far bigger. He was extremely excited when he spoke about it. So all in all the future is looking really really good even in Spain potentially let's see what SWP bring that is doing the right thing by expanding and taking control of the Southwest.

[the guardian] 26/7/2018 17:54

I think that we would all be better off if the company did not issue production targets. Why? Simply because they have not been able to even achieve the low targets and it was only around Christmas when a lot of people thought that the targets issued during presentations were conservative.

It's like the very first welcome video when LK was quoting share prices at various stages of company growth. Extremely unusual and extremely inaccurate.

Like it or not, the company got it wrong on Goudron. The rejuvenated wells have been continually blocked by sand and all the water injection expertise in the world can't result in production increases if there is insufficient water to make it happen.

Now we are moving on to much better acreage where the wells will hopefully be more prolific and the cash return on production, double that of Goudron. It is obvious therefore that there isn't going to be a lot of work on Goudron in the future. 'Bang for buck' the investment will be spent in the south.

Looking at the company's history, it should not therefore be making any forecast about end of year production. No-one knows at this stage if sand is going to be a problem in TI, Bonasse, Icacaos etc, so why make a prediction that could be completely wrong once again?

I can see the benefits of the Steeldrum acquisition in terms of risk sharing, political standing, better income rate, staff and GA efficiencies as well as general diversification. I would just like the company to do some work first before making prophecies because frankly, the field expertise that we have heard so much about has not worked up to now. We never did double production.

If you want to argue with reality, then please take a look at the share price graph since September 2017. Does it say that the company is a great investment?

It is not my intention to deramp my own investment but I cringe when I see people saying that the company hasn't put a foot wrong. The expectations from Goudron have not been achieved.

Without a doubt, the company has provided stronger foundations with very good deals BUT that alone is not going to make the share price increase, even if Leo thinks that prospective shareholders are not buying because they are too busy eating ice cream.

Unlike rossannan, having said my piece, I will now stay quiet until something happens to revitalise my former enthusiasm.

BTW, I am told that Lind has not sold any shares and that the frequent large sales have come from private investors. I would guess DL or NR but I could be wrong.

[nexus7] 26/7/2018 16:08

Saudis Suspend Oil Shipments Via Bab el-Mandeb After Attack

► Two tankers came under attack by Houthi militia, Al-Falih says
► Saudi energy minister says suspension is immediate, temporary


Saudi Arabia took the extraordinary measure of temporarily halting oil shipments via the Bab el-Mandeb Strait, a key shipping lane for crude at the southern tip of the Red Sea, after it said two tankers were attacked by Yemen’s Houthi militia...

[arrynillson] 26/7/2018 15:46

Northpole2 - those not having a detailed knowledge of the Steeldrum assets and commenting solely on the rns could easily fail to grasp the potential of the new assets without watching the 2 medias. Some might think Rosie has an agenda and it suits him to claim he hasn't made the time to watch the medias whilst he seems to spend lots of time posting on here and LSE. He does nothing to dispel his reputation over on LSE as a slippery one!

[arrynillson] 26/7/2018 14:48

12bn - i thought you’d be more welcoming than that to Rosie!

[12bn] 26/7/2018 14:36

12bn24 Jul '18 - 15:17 - 1167 of 1172 Edit
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NEXUS724 Jul '18 - 15:09 - 5405 of 5405
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From MrMagoo31 Today 14:55
------------------------------------

RE: Good enough for Schroders plc 25p end of next year with SWP in the mix....
Hold on tight to those shares!

One of the best run companies now - a great management team, and cash generating!!! We are in profit - just look at the numbers, dont be swept along with the Deramper brigade!////// Cerp are not in profit overall,just look at the last numbers.
12bn24 Jul '18 - 15:19 - 1168 of 1172 Edit
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-- Pre-tax Group loss for period of GBP5.02 million (2016: loss of GBP11.89 million), partially reflecting various legacy costs in 2017 which will not recur in 2018///// This is from 12th June RNS results./////// Northpole2 my comments on Cerp not being profitable were in reply to post 5405,surely that is fair enough! 'We are in profit-just look at the numbers......' was the wrong statement.

[holly day] 26/7/2018 14:33

Thanks for confirming that offerman. I too had genuinely hoped for that to be the case. Was my usual attempt at sarcasm! :0)

I also genuinely believe this quarter will be a very busy period for the company, specifically away from Goudron (though not totally neglecting bread n butter). I don't think anyone will be specifically focusing on the production numbers this 1/4, but Bonasse + Icacos + SD conclusion are the key milestones for me....all whilst being mindful of the cash balance.

[12bn] 26/7/2018 14:32

rossannan26 Jul '18 - 09:29 - 5435 of 5443
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jcgswims

Let us be crystal clear. I think I have valid points to make about CERP. My points are about CERP, not about other posters, and are backed up with my reasoning (whether you agree with it or not). Folk can debate the points with me or just filter me. If you do not want a contrary view on your thread you are free to ban me. It depends on what kind of thread you want.//////rossannan do you really not know that jcgswims cannot ban or moderate premium blue posters like you?

[offerman] 26/7/2018 14:28

Bloody hell this thread of so many good posters Keep it going all great to read , garn, NP, Carp, hvanddarh, JCG, Holly, nex,edgar, Ed, Etc

[h van der h] 26/7/2018 14:20

Northpole2,

that is one very good post, thankyou!

nothing i can add to that...

[offerman] 26/7/2018 13:51

Hi Holly Nice to hear from you.One thing I can confirmIs that after the presentation Leo was indeed really busy back in T&T out in the field I had personal confirmation of that . So no doubt he and team are cracking on with it all.

[northpole2] 26/7/2018 13:34

Ross... you are concerned about "dilution"? I suggest you stop investing in AIM oil and gas companies then. To grow and acquire external assets you have to use either cash you have, borrowings, new equity funds from investors or you sell to people who are happy to take shares and buy into the growth plans of the buyer. Or a combination of these. I can't think of many other ways, you can't magic up deals for nothing. LK appears to have done the deal using the best option he had which maintains cash to invest in the fields and plan for the SWP. He's got Steedrum's sellers to buy into CERP's future, presumably because they believe in the growth story. They clearly saw the value of adding their assets to Columbus' to create a bigger company with more scale and opportunity, whilst preserving the cash that is generated from all the fields to re-invest in all of the assets for production growth. And re-risk Columbus' portfolio at the same time. Whilst also stepping forward with the main goal, to seek transformational growth through the SWP drilling campaign next year. Steeldrum also brings first-call access to top quality rigs for that programme at market or better than market rates. How is that dilution? When you buy things you have to pay with something. Would you rather they had done a discounted placing? I see this deal as being accretive for CERP's shareholders as it provides so much new optionality with new long-term shareholders joining the party too.

As for announcements only being made to suit LK's internal agenda - that's just nonsense. LK is working hard to drive the company forward, not spin stories via RNS every five minutes to appease retail investors who want to play their short-term investor games. You actually think LK did the Steeldrum deal to deflect attention from Goudron? If you can't see the strategic benefits of the Steedrum deal to grow CERP as a company and help de-risk across so many activities, then I think you are missing why they did this transaction. Just a ploy to appease people at the AGM? You actually think LK and his team would construct a deal just to deflect Goudron and other issues at an AGM? LK would find that an offensive comment and simply untrue. And they are under a market obligation to announce anything material so it's not certain everyone will have to wait 3 months for the next announcement.

And from my discussions with CERP's management, it's clear they don't have any plans to draw on the new Lind facility, unless absolutely necessary. It's an insurance policy and a pretty good one too, I've not seen one that good for a long time and at such a minimal cost. Sound financial planning and management to me.

[garnhiem80] 26/7/2018 12:13

I think the term Leo used was the “Exclusive right”.. I do understand that Predator also has access the the same rigs to drill their two wells too?

“One of the subsidiaries, Caribbean Rex Limited (which is currently 98.55% held by RCH), has interests in Cory Moruga and South Erin Block assets and an unaudited net tangible asset value and net asset value of USD 9.17 million and USD 18.42 million respectively as at 30 September 2015. The other subsidiary (which is currently 97.00% held by WIEH and 3.00% held by GELCO) has interests in Inniss- Trinity with an unaudited net tangible asset value and net asset value of USD 0.73 million as at 30 September 2015.“

Puts the CERP/PDR TI purchase agreement in perspective! $4.3m is a lot of money if it’s to go ahead..then again if it doesn’t, 150+bopd in baseline production isn’t a bad thing!

[arrynillson] 26/7/2018 11:58

Rossannan - it’s your ignorance about CERP I find troubling - you seem to have plenty of time to post on here and LSE but are too busy to watch the 2 informative medias recently put out. Ignorance is also something 12bn seems to enjoy - you two deserve each other here!

[holly day] 26/7/2018 11:51

We are where we are. Things have not gone smooth sailing and my gripe is that the management choosing to make announcements to meet their internal agenda. I'd be just as miffed if we have to wait another 3 months++ to hear anything. Last update imo was only left 'til the morning of the AGM as they were pulling all stops to get the Steeldrum deal finalised (on paper), in order to deflect the attention away from the poor showing from Goudron in the last 1/4....leading to deviating significantly from the projected production chart.

They clearly have stuck the deal just in time and managed to appease SH's, but the hard work must start immediately.

I can see the benefits of both Bonasse and Icacos reworks which will hit the bottom line better. Failing that LIND facility will have to kick in sooner rather than later, albeit imo, it's a forgone conclusion they will have to tap in to the loan this year, not only for capex, but to finalise the SD deal and rationalisation of the two businesses.

The excitement re. the priority rig usage is understandable, but it does not mean the rig owner will drop whatever they are working on to allow us immediate access. We will be ahead of the queue for it's future deployment. Since no drilling is planned for this year, nothing to get too hooked up on, but great to have the facility. I am more interested if the team can now bring forward the drilling based on what we earn from Bonasse+Icacos + using LIND facility. An interim update will go down well with most SH's.

I hope Leo was in a hurry to leave the LSE presentation in order to attend to more pressing things than prepare for another video presentation.

GL all.

[jcgswims] 26/7/2018 09:41

A peaceful one.