Columbus Energy Resources Share Discussion Threads

[someuwin] 12/9/2017 09:36

Looking good.

[nexus7] 12/9/2017 09:35

Goudron Water Injection Pilot "A" - CEC issued
RNS Number : 4299Q
Columbus Energy Resources PLC
12 September 2017

Embargoed for release at 7.00am

12 September 2017

Columbus Energy Resources Plc

("CERP" or "Columbus" or the "Company")


CEC issued for Goudron Water Injection Pilot "A" Programme in Trinidad

[brasso3] 12/9/2017 09:32

Kazz

The Singapore GP is on my list for next year.

I think a slow build up to 5p will happen now over a bout a 1 month period.

[kazz] 12/9/2017 09:26

Good start for me Brasso
Off to Singapore tomorrow for the GP, so will miss the results here.
Fingers crossed they are encouraging
Regards....Kazz

[brasso3] 12/9/2017 08:59

Results released tomorrow which will draw a line under the Ritson era.

[tmmalik] 12/9/2017 08:52

5p short term

[brasso3] 12/9/2017 08:23

The results from Pilot A will come through very quick. Lots to look forward to for the rest of the year.

[tsmith2] 12/9/2017 08:20

A lot of froth here..

[tsmith2] 12/9/2017 08:20

A lot of froth...

[12bn] 12/9/2017 08:08

I see a 100k seller into this rise,very wise with bad results expected the day after tomorrow,imo.

[jcgswims] 12/9/2017 08:00

From bigdouble

VSA Today 07:43

Columbus Energy Resources (CERP LN) has announced that it has received a Certificate of Environmental Compliance (CEC) for the Goudron field Waterflood programme from the Environmental Management Authority of Trinidad. The approval will enable CERP to commence work on the Goudron Field Water Injection Pilot Programme which is intended to increase reservoir pressure consequently sweeping oil towards production wells resulting in an increase in production rates. The forecast increase is from the current 30BOPD to in excess of 150BOPD which will require an injection of 450 barrels of water per day.

CERP intend to commence the programme immediately and crucially, as the new management team have reviewed the project they have concluded that the first of the four pilot programmes can be completed from internal cash. Costs committed to date for the first programme for pumps, filters, tanks and pipework etc, total just US$300k. These have been tested during well injectivity trials and the system is expected to be running with continuous water injection within the next few weeks. Ongoing operating costs will be minimised by the fact that the source of injection water is already produced water from the Goudron field.

The data on recovery and incremental production rates will be key to determining the extent of the waterflood expansion, with a decision now expected in 18 months’ time. Proposals for the next three programmes will be submitted shortly and will target two areas in the shallow Goudron Mayaro well and the GY-670 well.

The application was submitted in late June and has been approved far quicker than expected bringing project commissioning forward by around a year. This reflects three key positives for CERP going forward which underpin our positive view on the stock. Firstly, as with the improved Lind facility terms it demonstrates the new management’s proactive approach to restoring profitability at the core CERP operations. Secondly it demonstrates that despite the changes in senior management, strong relationships with the Trinidad authorities have been maintained. Thirdly, it highlights the attractiveness of Trinidad as an operational jurisdiction.

We reiterate our Buy recommendation and 22p target price.

CERP will announce interim results on 13 September and hold an AGM and investor presentation on 14 September at the company's solicitors, Kerman and Co LLP, who are located at 200 Strand, London WC2R 1DJ

[12bn] 12/9/2017 07:53

Columbus Energy Resources PLC

12 September 2017

Embargoed for release at 7.00am

12 September 2017

Columbus Energy Resources Plc

("CERP" or "Columbus" or the "Company")

CEC issued for Goudron Water Injection Pilot "A" Programme in Trinidad

Columbus, the oil and gas producer and explorer focused on onshore Trinidad with the ambition to grow in South America, is pleased to confirm that the Certificate of Environmental Clearance("CEC") for Water Injection Pilot "A" Programme in the Goudron Field has been issued by the Environmental Management Authority ("EMA") of Trinidad.

The CEC application was submitted on 28 June 2017 with additional data sent on 11 August, following requests for clarifications from the EMA on Goudron Field facilities details. The issue of the CEC will allow the Company to complete work on installing the Goudron Field Water Injection Pilot "A" Facilities for the Gros Morne 665 area. The pilot objectives are to increase the rate and recovery in the Goudron Field by increasing reservoir pressure from the current depleted levels and by establishing a sweep of the oil towards production wells, including GY-664, GY-665 and GY-666. The forecasted increase in production as a result of the Pilot "A" Programme, which will target the Gros Morne reservoir interval, is from the current 30 BOPD withdrawals to a peak of over 150 BOPD and will include injection of over 450 barrels of water per day in to up to three wells, GY-667, GY-668 and GY-209.

The Pilot "A" Programme, which the Company will commence immediately from available cash resources, will also provide incremental oil rate and recovery information that will be used to make a decision on expanding the waterflood within 18 months of start-up. Pilot programmes B, C and D are also currently being planned and will target two areas of the shallow Goudron Mayaro reservoir as well as potentially providing pressure support for the Gros Morne/Cruse reservoir GY-670 well, which initially peaked at over 1,150 BOPD in December 2014. Proposals for pilot programmes B, C & D are planned for submission in the coming months, taking into account early results and learnings from injectivity testing, pilot "A" implementation and the stimulation campaign.

The facilities to commence produced water injection into the first well, including pumps, filters, tanks and pipework are procured, have been tested during well injectivity trials and the entire pilot "A" system will be commissioned for continuous injection service in the coming weeks. With the first conversion to water injection workover planned to take place in September on well GY-668, total committed costs to date are under US$300,000 which have been met from existing cash resources.

The Waterflood Pilot will use existing produced water from the Goudron Field as the source of injection water. This has many advantages in that it allows the Company to move away from surface discharge of fluids as well as injecting reservoir compatible fluid into the pilot area. The use of produced water also allows an inexpensive solution to the new pilot facilities with simple, low-cost additions to existing facilities to be installed in the form of produced water storage, filtration and injection pumping systems much of which, as noted above, have already been procured and tested during injectivity trials. Injectivity testing to establish wellbore integrity and rate versus pressure parameters has already taken place.

Leo Koot, Executive Chairman of Columbus Energy Resources commented:

"We are thrilled that the CEC has been issued by the Environmental Management Authority of Trinidad whom, as part of the Government of the Republic of Trinidad and Tobago we continue to enjoy a strong working relationship with. Following acceptance of the CEC we will begin the Water Injection Pilot "A" Programme immediately, funded from available cash resources.

I would like to thank everybody in the Columbus team for their work in achieving this milestone, which was completed significantly earlier than expected, and we have effectively brought forward commencement of the waterflood pilot programme by nearly a year. This was an important work stream for the Company as we continue to execute our new strategy for growth. As part of that growth strategy, we plan to submit further waterflood pilot proposals in the near future."

- ENDS -///// Be careful,results on Thursday.

[12bn] 12/9/2017 07:51

I see more 'good news' issued just before the results are due,I wonder why? Are the results going to be bad? Probably,imo.

[edgein] 12/9/2017 07:49

TG,

The trials were underway, read yesterday's and today's announcement, both mention the trials so they had already started to inject water. Now licence is in they can start it on a much larger scale. Then pending results from that apply for licence for B, C and D etc.

Regards,
Ed.

[edgein] 12/9/2017 07:47

Wow,

They follow up from excellent news yesterday with even better news today! Waterflood licence is in and work can start immediately to water flood the GM/C sands on our first pad of wells! Moreover fully funded from cash and all of the infrastructure required has already been procured. Talk about efficient and professional management, not that it was ever in doubt with LK. But these chaps could should other AIM O&Gers how it should be done. Remember folks that current 2P here is 11mmbbls approx, on waterflood the recoverable contingent is 60mmbbls. That contingent on waterflood, well as waterflood becomes field wide and formation wide no longer remains a contingency and can be rebooked as 2P, 3P etc. The action has just begun.

Regards,
Ed.

[the guardian] 12/9/2017 07:45

Great that we are about to start the water flood. I thought it strange that a lot of people on LSE were assuming that it was underway, despite the fact that no announcement had been made about the environmental permit having been received.

We will gather momentum soon.

[brasso3] 12/9/2017 07:23

A 350 - 450 BOPD increase would be most welcome!

The forecasted increase in production as a result of the Pilot "A" Programme, which will target the Gros Morne reservoir interval, is from the current 30 BOPD withdrawals to a peak of over 150 BOPD and will include injection of over 450 barrels of water per day in to up to three wells, GY-667, GY-668 and GY-209.

[nexus7] 11/9/2017 23:16

O/T I came here from Empyrean (EME). Keep under your radar. Not advice intended.
Sometimes Resurrection is possible.

[edgar222] 11/9/2017 21:33

Have had a look at the video interviews on the new website. They are undated. But have another look at the one in the top left corner.

I hear it as waterflood A has already happened and production is already up.

Also the optimism for the future of LK is infectious.

[brasso3] 11/9/2017 20:34

:)

LK really is something to get excited about. I am sure they are going to get the share price moving very soon.

Ritson now doing the damage at SOLO.

[kazz] 11/9/2017 20:04

Cheers Guys
I knew Brasso was here, as well as on some of my other holdings
Could never stand Ritson, but LK looks like a new ball game
Regards.... Kazz

[brasso3] 11/9/2017 19:51

Welcome on board Kazz.