Columbus Energy Resources Share Discussion Threads

[offerman] 11/9/2018 07:06

Morning Arry, Nice post. Understand your comments and point of view form a VSA directive . Things do change as has been witnessed here along the journey so far. Ups and downs peaks and troughs duengo unpredictability of the beast . Totally agree as like you I have also mentioned before on lse that pumps different equipment and techniques to be used on gourdron night yet improve the situation there. Totally agree with you about LK too. He has done a sterling job to date and no doubt will continue to do so. You're also right about Goudron and improvements can still happen with new equipment . My view on vsa was maybe they had chosen to leave target share price on uncertainty with Goudron hence leaving price despite Steeldrum Cory news. Maybe they are playing it safe rather than factor every bit up and down so are waiting for a more stabilised view. Lesss for gourdron more for Steeldrum Cory somlets leave the same. If bopd increase nicely from Goudron then maybe they may up the target share price Personally I think I'm time yheybate going to up that target substantially from 25p as don't forget this is only a near term one year target share price so I was lead to belive I'm sure any revisions from VSA will be to the upside over the course of the next 12 months or so. Time will tell ....... thanks again for your good reply

[arrynillson] 10/9/2018 23:32

Offerman - GE to you - I think VSA do a good job promoting CERP but most people appreciate they do have a rather rose tinted perspective - the scenarios they envisage are not impossible to believe and therefore do a good job at being provocative but it would be dangerous to place significant reliance on their share price predictions as sometimes the realities of running the business throw up problems not included in their scenarios.

I'm sure they are capable of issuing a Mega ramp sequel and it's probably in draft form as we speak but to optimise impact I do believe they need a bit more evidence on production - hence my comment to TG! This is merely IMO - just trying to put myself in VSA shoes.

BTW I hear what you say about Goudron but I remain very impressed with performance as LK appears determined to overcome problems where he can with innovative tech which augurs well for the huge range of development projects now available to him.

[offerman] 10/9/2018 17:47

Evening Arry,Maybe they have reduced the value of Goudron so kept the balance of 25p the same due to the poorer performance, declines and difficulty with the stimulation's since the September 2017 charts well results on the webcast. So value added after that webcast maybe have been diluted a little now.

[the guardian] 10/9/2018 17:46

arry, they knew about Bolt back in December but not Steeldrum. AS you say, a bit early to revise estimate on results but could have made some alteration based on proposed NAV.

[arrynillson] 10/9/2018 17:24

The Guardian - just from memory when I looked at the VSA full report they attributed around 8p to SWP balance to Goudron on the target share price Seems a bit soon to revise SWP estimate as not much solid news yet about bopd increases in SWP. The 'string of pearls ' also needs a bit of digesting but today's news was positive it will be interesting to see how Lk deals with combo of gas, oil and water - the type of scenario that seemed to challenge NR!

[greatfull dead] 10/9/2018 17:17

jcg,

Thanks.

ATB,
GD

[the guardian] 10/9/2018 16:55

VSA had a target price of 22p in September 2017.

They increased that to 25p on 13th December last year.

Since they are reiterating the same target price today, they presumably see no increase in value due to the acquisitions in the SWP, which is ridiculous.

Being the house broker, they are also the only broker to provide us with a target price.

[jcgswims] 10/9/2018 14:53

VSA



Columbus Energy Resources (CERP LN) has announced that it has been granted an extension of the license for the Cory Moruga Block until 2032. The extension of the license provides CERP with sufficient certainty to bring on a new field before the end of 2018 subject to completion of the acquisition which is expected Q3/Q4 2018. The combined group will then have six operating fields which will provide CERP with a more diversified and stable production base.

CERP anticipate that unaided production would resume at around 100bopd at Snowcap following natural pressure decreases after initial testing between 2011-15. These resulted in flow rates of 1,100-1,450 initially in 2011 and sustained rates of 250bopd latterly in 2015. CERP anticipates that artificial lift could support production levels from the natural flow rate. Certainly, in the initial period after completion we expect CERP to focus on this type of low cost intervention although the company is actively assessing the license area for further opportunities.

The license extension is an important step for CERP since it enables long term commercial planning to take place as the company sets about fulfilling its ambition of a stable and robust production base.

We reiterate our Buy recommendation and 25p target price.

[jcgswims] 10/9/2018 13:42

Malcys blog

Columbus Energy
CERP has announced that it has received an extension for its Cory Moruga Block until 2032. This will allow Steeldrum Oil, which is in the process of being acquired by Columbus, a chance to commence commercial sales from the Snowcap-1 well. It seems that the well will produce at around 100 BFPD with unknown water cut due to the length of time since it last flowed. Nevertheless, the shares at 4.55p are well off the 7.35p high from last October and I would expect some better performance in the future.

[offerman] 10/9/2018 12:09

Morning Ed I wonder if we will get news of the potential £100m deal by year end.

[edgein] 10/9/2018 11:06

Well that'll help them towards that 1,000bopd y/e target.

Regards,
Ed.

[nexus7] 10/9/2018 11:01

Columbus Energy Resources PLC Cory Moruga Block: Snowcap Licence Extension
10/09/2018 7:00am
UK Regulatory (RNS & others)


Today : Monday 10 September 2018

RNS Number : 1988A

[arrynillson] 08/9/2018 11:16

12bn announced 31/08/2018 on the KOD board he was changing his identity - can't think why as he had built up quite a following over the years and his reputation for share price prediction and factual accuracy in his posts was legendary!

[offerman] 07/9/2018 08:43

Would be really nice to see another Insti get on board ....

[hilly_71] 07/9/2018 08:35

Big sells just getting mopped up. Nice

[mam fach] 07/9/2018 08:31

Amazing recovery. Was worried when price started slipping below 4p.
Looking good.Keep the faith. Company is in safe hands.

[nexus7] 07/9/2018 00:38

From bigmj Thu 23:26
------------------------------------
RE: Mixed feelings

I still believe that 50p is a reasonable medium to long term target and have no plans to bail out early unless I LK gives me any reason to lose confidence which I doubt

[nexus7] 06/9/2018 11:43

Sometimes we should recap:

• QUESTIONS TO THE TEAM

General Corporate

[greatfull dead] 06/9/2018 11:31

All on Track.

ATB,
GD

[hilly_71] 06/9/2018 07:50

Good to see the big owner not fazed by the recent dip in the share price and adding - the old adage about transferring wealth from the impatient to the patient springs to mind.

[jcgswims] 06/9/2018 07:48

Mike Joseph increasing his holding again




This was his post from yesterday

From bigmj
RE: cerp Wed 12:37
Schroeder’s are no fools and have done plenty of DD , as have larger shareholders, we will soon be back above 5p and looking forward to any company news and updates to takes us to a new trading range IMHO
Follow the money ;-)

[nexus7] 05/9/2018 09:18

From Garnhiem. Tue 22:25
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RE: MEEI Bulletin

“Columbus will take over operatorship of the Bonasse oilfield with the intent of commencing a well reactivation programme, planned for Q2 2018. At present, Bonasse is intermittently producing at around 10 barrels of oil per day but with Columbus taking over operatorship, Columbus is confident that 10 existing wells at Bonasse can be profitably rejuvenated at minimal capital expense from the Company's existing cash resources in a manner similar to that successfully adopted on the Goudron field.”

=====================================
From Garnhiem. Tue 22:27
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RE: MEEI Bulletin

“Bonasse field reactivation of production has recently commenced in earnest with the mobilisation of a workover rig to site to perform further re-activations and production enhancements on the 10 available wells. Rig activities commencing week beginning 16 July 2018.“

[arrynillson] 05/9/2018 02:57

Nexus - I thought this was now a Ross - free haven but I don't actually mind the factual ones - it's the other 99% that I find objectionable LOL!

Great job BTW Nexus appreciative of your skill!

[nexus7] 04/9/2018 17:40

From ross Today 11:21
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MEEI Bulletin
Decent increase in July IPSC figure - chances are that a significant part of that is attributable to Goudron/TI: