Columbus Energy Resources Share Discussion Threads

[toploadermike] 16/10/2018 15:13

16/10/2018 3:00pm

UK Regulatory (RNS & others)



Columbus Energy (LSE:CERP)
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Today : Tuesday 16 October 2018
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TIDMCERP

RNS Number : 2230E

Columbus Energy Resources PLC

16 October 2018

16 October 2018

COLUMBUS ENERGY RESOURCES PLC

("Columbus" or the "Company")

Posting of Circular

Columbus is pleased to announce that, further to its announcement of 15 October 2018, it has today posted a circular (the "Circular") to Shareholders regarding the conditional placing 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.

The General Meeting will be held at the offices of VSA Capital Limited, New Liverpool House, 15-17 Eldon Street, London EC2M 7LD at 11:00 a.m. on 2 November 2018.

The Circular is also available on the Company's website at www.columbus-erp.com.

EXPECTED TIMETABLE OF PRINCIPAL EVENTS

2018
Announcement of the Placing 15 October
Publication and posting of this Circular and the 16 October
Form of Proxy
Latest time and date for receipt of Forms of Proxy 11:00 a.m.
on 31 October
General Meeting 11:00 a.m.
on 2 November
Announcement of results of the General Meeting and 2 November
the Placing
Admission of New Ordinary Shares to trading and commencement 8:00 a.m. on
of dealings 5 November
CREST accounts to be credited for New Ordinary Shares 5 November
in uncertificated form
Despatch of definitive share certificates for New within 7 days
Ordinary Shares in of Admission
certificated form


Notes:

Each of the dates in the above timetable is subject to change at the absolute discretion of the Company. If any of the details should change, where appropriate, the revised times and/or dates will be notified to Shareholders by means of an announcement through a Regulatory Information Service.

Contact Information:

Columbus Energy Resources plc
Leo Koot / Gordon Stein [phone]
VSA Capital Limited
Financial Adviser & Broker
Andrew Monk / Andrew Raca [phone]
Beaumont Cornish Limited
Nominated Adviser
Roland Cornish / Rosalind Hill Abrahams [phone]
Camarco
Public and Investor Relations
Georgia Edwards / James Crothers [phone]


Notes to Editors:

Columbus Energy Resources Plc is an oil and gas producer and explorer focused on onshore Trinidad with the ambition to grow in South America.

The Columbus Energy group has five producing fields, one development project and a highly prospective exploration portfolio in the South West Peninsula, which lies in the extreme southwest of Trinidad and consists of stacked shallow and deep prospects. Columbus is cashflow positive from operations and aims to create transformational growth by developing its portfolio in a capital efficient and disciplined manner.

Columbus is guided by the following core values; safe and sustainable, stronger together, creative excellence, positive energy, totally trusted and personally responsible.

The Company is led by an experienced Board and senior management team with supportive shareholders and intends on leveraging its expertise and experience to build an attractive and diversified portfolio of assets across South America in order to build an oil production led South American exploration business.

To find out more, visit www.Columbus-erp.com or follow us on Twitter@Columbus_ERP.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 ("MAR").

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

[toploadermike] 16/10/2018 15:11

My guess is those who thought they were going to make a quick buck from the top risers yesterday...

[arrynillson] 16/10/2018 14:11

SmoggyG - I'm happy to hold here backing my own judgment about the bright future prospects rather than sell out at 2p as suggested by that 12bn poster you regularly quote on here even though he was so discredited he stopped posting!

I'm loving the dilution as it has created investment capital to transform the prospects for this company - no obligation for you to join the ride - sorry you missed the growth from 2p but you have only yourself to blame for that!

[smoggyg] 16/10/2018 13:48

This is heading to 3.5p as sure as night follows day. Why don't you buy some more arry while the share price is 4p ish to buy? You like holding shares here as dilution after dilution drags the share price down! LOL :)

[the guardian] 16/10/2018 13:35

Looks like we've entered Brexit sell off time.

[arrynillson] 16/10/2018 13:19

EggChaser - I like to think of it as armchair community service and he did give me a platform to state the facts and correct his misinformation whilst enabling me to insert my own spin - we'd have less oil without the dinosaurs!

[smoggyg] 16/10/2018 10:41

EggChaser16 Oct '18 - 10:05 - 14 of 14
0 0 0
Arry Smoggy is 12bn... you can tell by the dense tone of his posts and investment choices...

I admire your trying to help what appears to be a lost cause... but one that we have our eye on..//////// What an ignorant uneducated low life. It is 'you are' or 'you're' not 'your'. Poor simpleton.

[offerman] 16/10/2018 10:05

Ah sorryDaft sleepy head me . Thanks for all your recent info and links to allThe media recently and important posts .

[eggchaser] 16/10/2018 10:05

Arry Smoggy is 12bn... you can tell by the dense tone of his posts and investment choices...

I admire you're trying to help what appears to be a lost cause... but one that we have our eye on..

[jcgswims] 16/10/2018 09:58

Hi Offerman, No he's not on again today, it's just the thread title from yesterday.

[offerman] 16/10/2018 09:57

Morning JCGI thought Leo was on stock tube yesterday not today ? If he is on another media today could you post the link please for me. Thank you.

[jcgswims] 16/10/2018 09:22

From bigmj

RE: Leo on Stocktube Today 08:50
It doesn’t really matter where the production comes from , having Steeldrum was about diversity and when goudron has a problem we can turn up steeeldrum and visa versa , diversity is the key . Year end will be circa 1000 bopd , most likely 700 from goudron. The reserves are far greater in Steeldrum .LK has a plan and I have helped accelerate it in the best possible way for shareholders. If you like it join the party , if not leave and never return ,simple

[offerman] 16/10/2018 09:10

Cheers Nexus.

[smoggyg] 16/10/2018 09:07

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./////// I wonder how many of the new share holders already have Cerp shares? A lot is my guess and we know Schroders do. Any lock in to Nov 5th won't stop them selling existing shares at todays prices and getting the shares back at 3.5p in the placing,a cert winner,nice for some!

[nexus7] 16/10/2018 08:52

From capitalidea oday 03:43
------------------------------------

Renewed FocusTWhilst I was initially disappointed with the raising of extra funds at a slightly discounted place, having had time to digest this information I am now pleased it has been done this way and not as an open offer to all sharehiolders as the new shares go into sticky hands and not those wanting to make a quick 10% and then sell out. It also removes the burden of the debt repayment to Lind. I was also delighted that the focus is now firmly on ensuring that an extra oil produced is profitable and we are not just producing extra to get a good headline of extra growth and 1000bopd achieved sooner than had been planned. It was also interesting to see the change to Stewart Ahmed's role with the introduction of Geoffrey Leid as the new MD Trinidad.

Extracted from the RNS - The learnings from successful well reactivations, active well optimisations and sand control techniques employed in Goudron are being extended to the Inniss-Trinity and South Erin Fields with the strong cost control focus of the Steeldrum organisation being brought to focus the combined team on fast cash return wellwork activities. Combined field inventories also allow wellwork and drilling planning to progress with a renewed focus on production gains per dollar invested.

It is great to be invested in a company that can react so quickly to changing circumstances and I sense that Leo is reluctant to draw new funds from Lind. Growth will be faster and more focussed on profit than before. Bring it on!!

[smoggyg] 16/10/2018 08:15

LK has done a sneaky fund raising to cover on going new losses. He did the Lind deal to supposedly pay for Steeldrum but then a week later did a placing to pay for Steeldrum instead. What happens to the Lind money in the future? It is obvious to those without blinkers on that the cash will be used for on going group losses,Spain,salaries,fees etc imo. I expect the share price to drop to 3.5p soon but without a working crystal ball who knows? Maybe Schroders will buy more in the open market to prop up the share price or maybe they will sell for a quick profit.

[smoggyg] 16/10/2018 08:08

arry I made money on kodal,you saw my posts,I bought shed loads at 0.13p/0.17p area and sold around 0.25p/0.26p area,I did lose on XTR though,you win some,you lose some.You would have lost a lot less here if you had sold at 7.25p as advised. Are you claiming you are not Eggchaser then,not that it matters?

[arrynillson] 15/10/2018 21:05

TG - thanks for letting me know about SmoggyG's new thread - I thought it would be rude to ignore him as it looked for a while there had been an epiphany there!

Incidentally I have given this Placing my blessing or in Ride Dalce parlance ' get your COAT you've pulled '! The project will benefit from accelerated momentum and it's good to see new II on board?

[ride daice] 15/10/2018 18:41

As an Englishman who has spent much of his working life in NL could I please urge you to pronounce LK's name properly ? He is Mr Coat FFS !!! (Let the O linger a bit). You may feel uncomfortable with this reckless pronunciation but it's a leap of faith just like your investment decision. I think he must be too polite to tell you himself.

[toploadermike] 15/10/2018 16:07

jcg,

Was a bit disappointed with the placing only because I would have liked the team to achieve their goals over time and with existing cash earnings as the bopd increases but I fully get it that other investors want in and at as low a price as possible so to be able to maximise returns, and again I get it. I just don't like to see companies start on this "sap from the tree" mentality because it's never free. As a business owner I have always found that going down the loan route makes one very careful with ones finances, of course this can sometimes restrict the business, but restriction is not always a bad thing. When I say the "sap from the tree mentality" I'm referring to the never ending expectation of available funds in the form of share dilution i.e. placing's, as in my opinion it can make companies lose sight of the true value of the invertors. Now I'm not saying that I feel CERP is likely to be that way inclined, but it's always a possibility and that's what causes me concerns. I'm happy that CERP have limited it and done it in the way they have but again I hope we don't see too many more of these. Maybe LK will understand my concern and try not to be led down that path.....

Good investors will normally lend on very favourable rates when there is a low risk return and I'm a little surprised the team didn't ask for cash on a loan basis. I wouldn't want to be giving away any of my company unless I absolutely had to, that's for sure...

All that said, I understand and because of the way they've done it I'm staying in.

ATB
TL

[jcgswims] 15/10/2018 14:25

Malcy's blog



Columbus Energy Resources
Columbus has raised £2.5m in a placing at 3.5p (a 6.8% discount) with new and existing shareholders. Half of the proceeds will be used to repay the North Energy Capital facility ($1.25m) and the rest to establish a multi-well drilling campaign on the Steeldrum assets and in the south-west peninsular facilities. The raise has been brought on by existing shareholders who approached the company asking it to use the money for an ‘accelerated growth strategy’, rather than be paying back monthly debt repayments.

The raise is a good thing and with CERP’s problem being one of how to ‘bulk up’ the business is a reasonable start in that process. I have written many times about how ambitious Leo Koot is and clearly his shareholders want to participate in that which is admirable, maybe once this bulks up a bit more there might be an M&A opportunity available for the next stage…

[smoggyg] 15/10/2018 13:57

EggChaser
Member since: 15 Oct 2018
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Following//////// Just joined today I see,just to follow me. Saddo. Will we see old arry again or will we just see Eggy?

[toploadermike] 15/10/2018 13:41

Welcome & I'll ask for confirmation once done.

[offerman] 15/10/2018 13:39

Hi Mike,That's good to know, Thanks for the update .