Columbus Energy Resources Share Discussion Threads

[jcgswims] 15/10/2018 13:37

10mins 20secs in - Malcy talks CERP

[toploadermike] 15/10/2018 13:30

Ed, John,

Just had call re sentiment and has changed from caucious to positive and confirmed in, probably late today.

FYI.

ATB
TLM

[the guardian] 15/10/2018 13:24

Number 11 on the top risers list. Glad I didn't wait too long to recover my sales.

[offerman] 15/10/2018 13:03

Yes definitely agree there EdFact that they are doing the 3-D is basically going the whole hog to get that sharper more defined DL. That's good to know about the whole of SWP Ref FTG and total access. It's interesting potential about Suriname State too Maroon.

[edgein] 15/10/2018 12:58

As for the gravity survey, I think it was basically the whole of southern T&T regardless of whether or not a company participated. As CERP co funded they'll have access to the whole lot. The modern gravity survey is useful but it'll be the processed 3D that will really nail down the targets.

Regards,
Ed.

[edgein] 15/10/2018 12:54

Offer,

Very true, getting $50/bb vs $30/bbl will make a material difference on any discovery let alone a large one. Hopefully LK will report on any material development between these quarterlies. I'd like to know when the Bonasse field is upgraded to deliver production and spudding of SC-2 or SC-3 whichever it is. Also if the waterflood is delivering materially increased production this Q. We'll definitely hear from predator on TI.

Well the 3D is interesting as it sounds as if they're reprocessing it before drilling. yes as you suggest cheap old 2D is what most onshore companies use. Some onshore companies like AEX do use 3D to firm up the targets, but it sounds as if CERP are further processing the seismic and that suggests inversion or AVO or the likes and that is usually the realm of the offshore companies. Perhaps LK and co will elaborate closer to the time. As that suggests no stone unturned before the drill starts turning.

Regards,
Ed.

[eggchaser] 15/10/2018 12:43

Hahaha... 12bn could not have happened to a more finer investment guru as yourself... Good day to you....

[toploadermike] 15/10/2018 12:37

Offerman,

My total holdings evened out at 3.97 so anything above that I'm in the blue. Bought in at perfect levels IMHO but now I know what I do about CERP and their management team, I'm still happy to get more up to 6.2 even with current considerations. As I said before short to medium/long so even if you have bought as you say then you still have done great IMHO.

ATB
TL

[smoggyg] 15/10/2018 12:30

If you want a good share to invest in try MRS,it is in line to make 2p a share profits by DEC results and is under 7.5p to buy.

[offerman] 15/10/2018 12:24

Thanks Ed.Also not having the IPSC attached is a huge bonus too. Once they have completed the 3-D seismic as well that's going to give even better clarity drilling location as they are doing that on land as opposed to from my understanding normal 3-D at sea 2-D on land . So 3-D on land they must be confident. I'm not sure how much the FTG survey covered but I'm sure with all of these in place they're going to have a very good chance hitting the sweet spot. Like you say beneath Bonasse looks great on those slides . Any indication even on just the deepening Herrera any success there I'm sure will also get big oil definitely sitting Bolt upright in their chairs let alone SWP deep drill.

[smoggyg] 15/10/2018 12:23

The only chance Cerp has is a deep drill or two in Trinidad. This is unlikely to happen for 18 months or more imo,if ever and the share price will continue to drift ever lower on no news. There may be the odd bit of euphoria on news but the share price drift lower will win in the end. Cerp need to get beyond only making a profit on production and get to the point where they will make a group profit. The best way to do this is to raise cash big time and then do a JV deep drill in the SWP.

[toploadermike] 15/10/2018 12:12

bigmj,

Agreed, I have never liked dilution as it always affects those smaller shareholders worst, but in this instance I'm happy to stay in as I can see the longer term goals and probabilities, as Offerman says, it could be a massive return, so playing the risk to ratio numbers this price is still extraordinarily cheap in my view.

Agree with you totally Offerman. Still trying to sell more of my other lame ducks.

ATB
TL

[smoggyg] 15/10/2018 12:04

Period Highlights

For the 6 month Period ending 30 June 2018

FINANCIAL

-- Revenue for period of GBP3,615,000 (1H 2017 GBP2,460,000), an increase of 47%
-- Gross profit for period was a profit of GBP429,000 (1H 2017 a loss of GBP42,000)
-- Pre-tax group loss for period of GBP2,465,000 (1H 2017 loss of GBP1,964,000), the increase being mainly due to exceptional costs in Spain

-- Cash in hand of GBP1,800,000 at 30 June 2018 (1H 2017 GBP1,684,000) ////// Is it surprising that Cerp raised money today and diluted holders? I did think that they would have used the Lind money to fund their losses but I suppose issuing paper is less expensive to Cerp going forward and why should they care about share holders who paid 5p,6p,7p for shares here,while LK gets his for free?

[jcgswims] 15/10/2018 12:02

From bigmj

RE: Leo on Stocktube Today 11:59
The problem with doing an OO, it takes time & incurs expenses plus you end up with cheap shares being quickly flipped, this money has been raised by issuing shares which wont be hitting the market, MM's might play tricks but there wont be very many shares around at the placing price.
It was only last week that people who took part in the last OO at 5p were moaning about it not being a good deal, you really cant win, for smaller investors there has been the chance to accumulate shares at circa the placing price on the open market, they could have taken this up.
At least the placing was done at a sensible price without a big discount

[offerman] 15/10/2018 12:00

3.9 is an excellent price Mike.I was buying in a lot in the open offer and before that at higher pricesThen further purchases at 4.6 and 4.4. And also I had bought in A lot of shares at the equivalent of 60p before conversion . So trust me 3.9 is an excellent priceAnd anything below the open offer 5p is excellent. Remember that 5p is only 0.25p old money The share price back in the day I think at 2000 bopd reached 6.9p old moneyEquivalent of around £1.28 I think So all of these purchases you're making Mike are at stonkingly good values. I really do believe and I know it might sound far-fetched to many but just imagine if we hit 100 or 200 or 300 or even 400 just from one deep SWP wellForget the. 5 billion mc remember Leo does like to overpromise so take .5 with a pinch of salt in my opinion as it will be far exceeded if we do hit vast amounts of oil from one of 14 prospects. And in each of the three zones.

[smoggyg] 15/10/2018 11:59

Anyone buying now at 4p deserves to lose their money,this is going to 3.5p sure as night follows day.

[smoggyg] 15/10/2018 11:53

The Guardian15 Oct '18 - 11:45 - 5986 of 5986
0 0 0
I see that smoggy has set up his own thread.///////True jcqswims doesn't like free speech it seems. This is on my watch list to buy but not until after the big fund raising in late 2019/2020 to fund deep drilling. Cerp loses money and Cerp holders fund the losses via dilution. No doubt another 20:1 consolidation will happen when the share price drifts too low. :)

[smoggyg] 15/10/2018 11:46

The Board of Columbus, the oil and gas producer and explorer focused on onshore Trinidad with the ambition to grow in South America, is pleased to announce a conditional placing, by VSA Capital Limited ("VSA"), with new and existing shareholders including Schroder Investment Management Limited ("Schroders"), Michael Joseph and Burggraben Holding AG ("Burggraben"), of 71,428,571 new ordinary shares in the share capital of the Company (the "Placing Shares") at a price of 3.5 pence per Placing Share (the "Placing Price") to raise approximately GBP2.5 million (before expenses) (the "Placing"), subject to approval by shareholders at a General Meeting proposed to be held on 2 November 2018.///// 71m new shares at 3.5p,that will keep the share price low and from April onwards I expect Cerp will issue shares at market prices to pay for its Lind money.

[the guardian] 15/10/2018 11:45

I see that smoggy has set up his own thread.

[toploadermike] 15/10/2018 11:45

And nice, will pay off, I'm sure. IMHO

[toploadermike] 15/10/2018 11:44

3.9 :) should have done it earlier John but trying to do too much at the same time never works.... LOL