Columbus Energy Resources Share Discussion Threads

[arrynillson] 20/8/2018 07:02

12bn - the confusion about Lind is just in your own head - you had it before when CERP borrowed from Lind - you told us they would not afford the monthly cash repayments because production was going to fall ( based purely on your deranged hatred for CERP ) - you got that badly wrong and you also told people to sell at 2p - come back to us when the boiler room has cooled down and someone can put together some sort of rational argument!

Surely Lind are barmy linking their conversion option to 8.1p - they clearly know nothing about business - except it was you who got it totally wrong last time 12bn! - when are you going to change your thread header to 8.1p ?

[nexus7] 20/8/2018 01:00

Our neighbor:

Venezuela's 95% Devaluation Adds to Turmoil After Drone Attack

► Harsh economoic measures may test Maduro’s grip on power
► Inflation likely to worsen after devaluation, wage increase

[garnhiem80] 19/8/2018 15:50

Possibly why the company expectation is in excess of 1000bopd!

Can easily see why if the new pumps can provide sustainable output of 648bopd (reported peak production) adding an easy 200-300bopd via Steeldrum..

We will forget all the other planned works for now!

[the guardian] 19/8/2018 15:33

Brasso, no. It just means that they couldn't hit the lower target without buying 200-300 barrels.

[garnhiem80] 19/8/2018 11:04

The AGM presentation still indicates an expectation in excess of 1000bopd.

•With a production expectation in excess of 1,000 bpd by year-end we will have passed the materiality threshold for Trinidad

hxxps://columbus-erp.com/wp-content/uploads/2018/07/180713-AGM-Presenation-Final.pdf

Imo, I don’t think it will involve any substantial work on any of the steel drum assets, as the focus is still currently on Goudron, Bonasse and eventually Icacos.. Steeldrum will just add an instant 200-300bopd.

[arrynillson] 19/8/2018 10:38

Brasso - interesting idea - LK did mention in the media in response to a similar question something like it wasn't about adding the two because they had to work on deciding priorities for spending the development capital in accordance with bang for buck mantra - I believe new guidance will be provided once they have decided.

This has moved from spluttering on one and a bit cylinders to a V8 but needs fettling to optimise performance!

[12bn] 19/8/2018 10:34

The Lind Facility

Details of the Lind Facility are as follows:

The Company has the right to drawdown funds as follows:

-- up to US$2.25 million of convertible loans for a period of up to 180 days after execution of the Lind Facility (in two tranches of US$1.0 million and US$1.25 million);

-- a further US$ 1.0 million of convertible loans, in tranches of US$0.5 million each, subject to mutual agreement with Lind and the Company having a minimum market cap of GBP25 million;

Should the Company not exercise its drawdown rights within the 180-day period, the agreement will lapse and no funds will be available.

If the Company elects to drawdown the first US$1.0 million ("First Tranche"), there is a 120-day repayment free window before repayment of the loans over a 20-month period during which Columbus can, at its election, repay at a monthly rate of US$60,255 in cash or by issuing shares at the prevailing market price on each monthly payment date. In the event the Company elects to drawdown the second tranche of US$1.25 million ("Second Tranche"), repayments of the Second Tranche will be over a 20-month period in either cash or equity in a similar manner to the First Tranche, with the monthly cash payment being US$75,319.

Lind has the right to convert the outstanding balance on the Lind Facility to equity at a conversion price of 8.1 pence per share////// There is a lot of confusion about the Lind facility over on jcqswims thread. The 8.1p a share conversion price is only RELEVANT IF LIND ASK TO CONVERT but if CERP ask for cash under the facility it is at MARKET PRICE ON EACH MONTHLY DATE. This is said clearly in the RNS,so it is possible,imo likely,that shares will be issued sooner or later AT MARKET PRICES.

[chutes01] 19/8/2018 10:25

koot will develop this into a giant

[brasso3] 19/8/2018 10:20

In the April 2018 presentation, CERP had a gross production forecast of 900 - 1500 BOPD for Dec 2018. With the Steeldrum acquisition does that mean the end of year target should now be 1100 - 1700 BOPD?

Thoughts?

[nexus7] 19/8/2018 09:54

From Wraith Today 01:26
-------------------------------------

RE: Ross

Q2 2018 Business Update RNS link below;-

Leo Koot comment on "The Lind Facility", taken from Highlights;-

"The Company believes it will be able to assimilate Steeldrum into Columbus using our existing cash resources and the revenues we are generating from our ongoing operations. Nevertheless, the Board considered it prudent to ensure we have access to additional funds to cover any short-term issues that may come our way when integrating the two organisations and when we are seeking to optimise our new assets over the next few months. We are very grateful that Lind has provided a short-term loan facility of up to $3.25 million to support the Steeldrum transaction. This drawdown facility, where Lind can convert any outstanding loans into ordinary shares at 8.1 pence per share, provides us with financial flexibility to optimise the new organisation and deal with any un-expected financial issues and once again demonstrates their confidence in the future potential of our Company. As a result, and due to the financial terms we have agreed, we believe the Lind Facility is accretive for our shareholders as it minimises any equity dilution whilst providing real financial flexibility at minimal cost."

Source:

Gives good guidance, on "The Lind Facility" (converts at 8.1p),....lots of other, useful information, also.

BW

[arrynillson] 17/8/2018 13:29

12bn - everyone knows that you peek at filtered posts 12bn otherwise why would you be bothered that I respond to your tosh!

I am quite comfortable continuing to respond with you pretending you don't read my posts 12bn!

[12bn] 17/8/2018 10:46

MMs seem happy to sell shares at 4.05p and now 4.04p,as many as PIs want! Is the reason philanthropy or do they have a big sell order?

[nexus7] 17/8/2018 09:57

From Garnhiem. Today 08:57
-------------------------------------

Project RED
Always worth another listen :)

EXCLUSIVE: London South East's Oil & Gas Investor Evening 17.07.2018 - full webcast

[arrynillson] 17/8/2018 08:48

12bn - if you read rns as well as cut and paste you would have been aware of the NEW Lind facility which they will, almost certainly, use if funds are required.Surely Lind must be barmy with that conversion price of over 8p 12bn - but they seemed to know more than you last time didn't they!

[nexus7] 17/8/2018 08:27

From MrMagoo31 Today 08:22
------------------------------------

How Good will this get...

From the low we are currently sitting in.....


GLA LTHs - Not selling a bean, or trading it, just patiently sitting waiting for the transformation - just 3 years or so now for the half billion company.....
Optimism is the way forward!!!

[nexus7] 17/8/2018 07:49

From Garnhiem. Thu 23:59
-------------------------------------

RE: predictions

A share price prediction is just that, Unless there’s another motive?

No shares issued as of yet, the plan is for the deal to close around October, I believe.

Cory Moruga needs a new licence issued before CERP grant “the sellers” the consideration shares.

“16,920,083 shares in Columbus in the event the Innis-Trinity field is sold to a third party for no less than US$4,200,000 (the "Innis Trinity Shares")” equivalent of ~20pps.

“In the event all of the Base Consideration Shares, Cory Moruga Shares and Innis Trinity Shares vest in the Sellers, the Sellers will hold 18% of the enlarged share capital of the Company. The Sellers are West Indian Energy Holding AS, Rex Caribbean Holding Ltd, Geoffrey Leid, Svein Kjellesvik and Gelco Energy Inc. The Sellers will be subject to certain lock-in arrangements that will prohibit them divesting of their shares for a period of at least 6 months post completion, save for 10% of the Base Consideration Shares.”

“In addition, Lind has received 5,472,136 share options, which they can exercise at a share price of 8.1 pence, and will receive additional options alongside any drawdowns on the same exercise terms. Lind also has the right to convert any loans outstanding into ordinary shares at a share price of 8.1 pence per share during the two-year period of the Lind Facility;“

No sign of LIND taking their share options on the remaining amount of the loan?

[12bn] 17/8/2018 07:17

From 12th June results.//////-- 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

[12bn] 17/8/2018 07:14

Awful looking chart,I can see this returning to under 3p again. Maybe they will have to raise more funds soon via dilution of some kind. As they are loss making this sounds likely imo.

[nexus7] 16/8/2018 23:53

Bonasse info from CERP

Operational Overview

Bonasse Oilfield (Columbus, 100%*)

[nexus7] 16/8/2018 23:36

From Garnhiem. Today 18:56
-------------------------------------

RE: Price Xmas prodictions cerp

As you are referring to a financial figure, would the “Year” be starting from April 2019 and ending April 2020?

Approx 1150bopd with a 5% discount on current oil price. SWP/Bonasse there’s no need to apply a discount as CERP would receive the full market price!

Baseline production with the steeldrum deal ~750bopd.. looking at an average increase across 6 fields of ~41bopd to reach 1000bopd..

We know Icacos is able to produce an average of 35bopd from 3 wells that used to be maintained and there’s more wells to be potentially reactivated, snowcap1’s long term test of 100+bopd (awaiting production licence for Cory Moruga), recent peak Goudron production of 648bopd, with new pumps being installed it should provide better consistency and improvements. Potentially reactivatiing and optimising more wells in Cory Moruga, Trinity Inniss, South Erin as well as Bonasse. Waterflood trials have yet to contribute to production figures, times scales should reduce with additional water availability!

======================================

From Garnhiem. Today 20:18
--------------------------------------
RE: Price Xmas prodictions cerp

That’s your opinion and I’m happy for you to hold that option, Let’s see what they can get out of Bonasse first! :)

“CALGARY, Alberta--(BUSINESS WIRE)--March 31, 1998-- Trans-Dominion Energy Corp. (TSE:TDE) has commenced continuous production and oil sales from the three wells drilled in the Bonasse Field on the Cedros Peninsula of S.W. Trinidad.

The 26 degree API oil is being transported by road tanker at the rate of around *bopd to the tank farm, operated by Petrotrin, at Point Fortin. Trans-Dominion expects this rate to increase to over *bopd by the end of April.

BONASSE WELLS PRODUCING FROM ONE, OF SEVERAL, PAY INTERVALS

At present, a 2-D seismic program is being carried out which should provide locations for up to 15 more production wells to be drilled later in the year. In addition, logs from the Bonasse-2 well revealed an oil-filled sand with a net pay thickness of around 70 ft. at a depth of 600 ft.”

[jaffa14] 16/8/2018 17:13

Ooops ! that wont help toward recovering my 15.5p average. Grrrrr !

[the guardian] 16/8/2018 15:52

nash, how come we are sub 4p ...was hoping for 6p by now.

At least Leo will have to stop including the bit about doubling the share price in his presentations.

[nexus7] 16/8/2018 13:59

All-Time Low Spare Capacity Could Send Oil To $150

While the oil market and analysts are trying to guesstimate how much Iranian oil the U.S. sanctions will stifle later this year, they all agree that the return of the sanctions is the market’s key bullish driver as well as the largest ‘known unknown’ for oil prices later this year and into 2019...

[arrynillson] 16/8/2018 08:24

Chute - he told us he was flying to Trinidad to meet the Steeldrum staff but that was soon after the AGM - I'm surprised, as an old mate of his, he did not share his travel itinerary with you.