Columbus Energy Resources Share Discussion Threads

[dafrog] 05/11/2018 07:55

Hi offerman. I stopped letting because of the 3 monthly tax returns. Little of the costs can be offset against income and the returns have to be completed within a few days of the end of the period. Mine is in company name so have additional costs. Had to fly out to sign a document a few months ago.

[temmujin] 05/11/2018 07:54

the reason why spain has done this is because PXOG have discovered loads of gas...thats the priority now...obvious..thats why im heavily invested in pxog

[offerman] 05/11/2018 07:48

Morning DafrogI was just typing that post out and read yours as you posted before mineI am on holiday owner and it's just getting more and more difficult as the weeks and months go by I do contemplate selling up there one-day myself. Would be a shame as many happy memories over the years and really used the place for just family and friends. Also had problems with people subletting the place before or just unreliable people and then had drunk Brits trashed the place a few times which put me off for years trying to rent out and I just paid the mortgage out my own pocket at that time. For many years in fact. Only recently have I started to try and rent again as finances have been very tight, as it's a beautiful place in a great location that the new Spanish tax laws are a absolute nightmare. Do you have to do tax returns every three months not every yearAnd even if you only get one rental in that time which wouldn't pay months mortgage you still have to pay extra money to accountants solicitorsThen they have extra charges which have to pay every yearIt has become a nightmare to say the least

[the guardian] 05/11/2018 07:43

At least we won't have to keep pumping cash into it. Adios Espania.

[offerman] 05/11/2018 07:43

Good morning mikeI am involved in Spain personally and it certainly isn't easy to do business over there in fact they are making it even more difficult right now making a lot more hurdles for property owners. Lovely people, just not the ones at the top. Usual story really. That seems even worse over there . Completely agree get us the hell out of Spain we can do much better without it focus on T&T Suriname and South America We will do for better without.No point pursuing and I totally agree that there will be a Spanish company there operating in the not too distant future.They certainly do look after themselves and the same can be said for jobs they always give jobs to family and friends first and other local Spanish rather than foreigner have a job which to appoint I can understand that shows some loyalty I guess but I don't agree with the way they have done it with regard to the license.Say that a decision would be made before the end of 2018 but to do it in this way and not make it publicly is a little suspicious. Anyway as you said best off out of there focus on our core assets and expansion.

[ride daice] 05/11/2018 07:30

One would have at least expected an explanation given that the company employed a number of locals for quite some time.

[smoggyg] 05/11/2018 07:26

Oh dear,the share price should head for my 3.5p fast. Morons like EggChaser never noticed that my prediction was NOT TIME LIMITED. I wonder what 'The boys' think of this RNS? (What a pair of idiots arry and Eggy are,if they are not 1 person).//////////RNS Number : 2724G

Columbus Energy Resources PLC

05 November 2018

5 November 2018

COLUMBUS ENERGY RESOURCES PLC

("Columbus" or the "Company")

La Lora Concession, Spain

Columbus, the oil and gas producer and explorer focused on onshore Trinidad with the ambition to grow in South America, provides the following update affecting its Spanish subsidiary, Compañí;a Petrolifera de Sedano S.L.U. ("CPS").

CPS has received notification from the Spanish Government that it should commence the decommissioning of the Ayoluengo field. As previously announced, the Company was expecting the Spanish Government to re-tender the La Lora Concession and indeed has been waiting for the re-tender process to commence since January 2017. No reasons have been given by the Spanish Government for the decision not to re-tender the La Lora Concession and the Company will consider its options in this regard.

The Company already carries sufficient provision in its accounts for decommissioning costs. There are various assets on site, including equipment, and these will be moved to, and utilised in, the Trinidadian operations or sold to offset any such costs. No material cash expenditure is expected to be made by the Company in relation to the decommissioning of the La Lora Concession.

Leo Koot, Executive Chairman of Columbus, commented:

"The Company is disappointed that the Spanish Government has not publicly stated why it has decided not to re-tender the La Lora Concession, especially as we have been led to believe that a new tender would be forthcoming before the end of 2018. The Company will consider its options with respect to the Government's decision."

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

Contact Information


Columbus Energy Resources plc [phone]
Leo Koot / Gordon Stein 2039
VSA Capital Limited
Financial Adviser and Broker [phone]
Andrew Monk / Andrew Raca 5000
Beaumont Cornish Limited
Nominated Adviser [phone]
Roland Cornish / Rosalind Hill Abrahams 3396
Camarco
Public and Investor Relations [phone]
Georgia Edwards / James Crothers 4983

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 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

[dafrog] 05/11/2018 07:21

Not the best place to be a holiday owner either. Spain invented red tape.

[toploadermike] 05/11/2018 07:18

Avsome,

there is your answer re spanish site and for me it is good news, better to get out of an unstable country regarding oil production in my view and having 3 generations of Spanish family I can tell you the country is not the best place to do business unless you're into time shares and other holiday options. If you think about it the venture in spain has been a nightmare and the government are probably not re-contracting due to self interest, if you follow the area involved I would guess that within 5 years there is another oil producer onsite, but a Spanish one.

ATB
TL

[eggchaser] 05/11/2018 07:15

Spain is a gone!

[avsome1968] 04/11/2018 22:00

HI PEEPS been watching this one for a while not in at the moment but with placement sorted out in recent EGM should expect steady news flow to get this share price moving also notice Schroders have a sizable investment here that's a plus, also could anyone tell me did they get Spanish issues sorted out,

[leokoot] 04/11/2018 17:37

I don't think MrMagoo was talking about Teacup64, but rather the poster whos promoting the scam.

[eggchaser] 04/11/2018 15:35

From LSE bigmjThanks , happy to my money behind LK, LGO was a disaster but CERP under LK & team is a totally different proposition. Anyone who spends time with him would soon see why I have such confidence in him. He would be the first to admit that the business was in a bigger mess than he expected and therefore has taken longer and cost more money to get moving forward. I look forward to reading this board 12 months from now and seeing what people have to say about LK and CERP. 100% confident share price will be well into double figures by then

[chutes01] 04/11/2018 11:26

Indeed
Recent conversations lead me to believe he is about to make a huge success here

[nexus7] 04/11/2018 11:25

From MrMagoo31 Sat 23:39
-------------------------------------

CERP

Do us all a favour (Teacup64) and stop going on about stupid scam projects - that have nothing to do with this board!!!

Let’s concentrate on why we post here shall we!


GLA LTHs

[arrynillson] 04/11/2018 00:57

chutes01 - quite a week for Leo Koot - resounding support for his latest development project from his shareholders!

[jcgswims] 02/11/2018 16:48

From bigmj

RE: Passed Today 16:31
Thank you, I am sure the company is now in a position where LK can get on with producing more oil and showing us what he can do, every penny of profit will now go straight back into the ground rather than paying loans

[chutes01] 02/11/2018 16:03

quiet week

[toploadermike] 02/11/2018 15:54

RNS today:

The Company announces that at the General Meeting held earlier today, the resolution to place 71,428,571 new ordinary shares ("Placing Shares") in the share capital of the Company was passed.

Proxies were received by the Company from shareholders prior to the meeting as follows:

VOTES FOR VOTES AGAINST VOTES DISCRETIONARY VOTES WITHHELD VOTES TOTAL
245,700,023 1,570,059 454 62,497 247,333,033
-------------- -------------------- --------------- ------------

[toploadermike] 02/11/2018 08:42

Looks like a good start today?

[arrynillson] 01/11/2018 22:10

EggChaser - the troll has sunk to new levels now as this reference to Range results is merely parroting a well known tactic of another troll Rossannan!

12bn/SmoggyG probably the reason your theory is not ventilated on the other thread is mainly that it comes from you and it's proven you regularly get it totally wrong primarily through lack of research - if you bothered to read the 10/10/2018 RNS you'd see ' This programme includes our ongoing water injection campaign at Goudron where we have already injected over 79,000 barrels of water into one well and are seeing CLEAR SIGNS OF CONNECTIVITY to adjacent wells.'

As water flood is ongoing I'm not surprised the shareholders on the other thread discuss it but the company are not making extravagant claims for the action and we will wait and see but even if there is no gain I believe it was a reasonable course of action for the company and I would have been very distressed if they called a halt based on the hunch of some loser troll on a bulletin board!

As suggested by EggChaser the topical interest is on the CO2 EOR scheme currently financed by Predator which I drew your attention to recently - costly scheme on a field with lower API oil but one that could massively benefit CERP. Have a look at the latest presentation over at Predator - including the frost on the pipes!

I'm not surprised you changed the subject from your latest share price prediction LOL!

[smoggyg] 01/11/2018 07:58

There is a lot of talk on water flooding as the next big Cerp saviour. I would just like to point out that Range Res tried it in Trinidad and it failed miserably,that could be a clue to Cerps results from it,imo. The API of the oil in Trinidad is such that it does appear to have migrated from much deeper in the earth,so maybe much of the water will naturally empty into the deeps and may have little effect on oil production. Just a thought that never appears on jcqswims rampers only thread.