Columbus Energy Resources Share Discussion Threads

[nexus7] 27/12/2018 00:48

Oil Extends Biggest Gain in Two Years After Stock Market Surge

► West Texas Intermediate crude adds 1 percent on Thursday
► Crude gains after equities advance for first time in five days

Crude extended its biggest advance in two years after U.S. equities rebounded and Russia signaled that OPEC and its partners would be willing to meet as needed to help manage the oil market.

Futures in New York rose as much as 1 percent Thursday after jumping 8.7 percent on Wednesday, the biggest increase since November 2016. The surge took the U.S. oil benchmark above where it was before the Christmas Eve selloff. It came as equities had their first advance in five days, following assurance from the White House that Federal Reserve Chair Jerome Powell’s job is secure. President Donald Trump also expressed confidence in the U.S. economy...


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WTI: $46.49

[nexus7] 25/12/2018 18:57

Oilprice.com

Argus Remains Bullish On Oil As Prices Plunge Below $45

Although the oil market will remain oversupplied in the first quarter of 2019, the OPEC+ producer cuts will start to work in the second quarter and gradually rebalance the market to the point of Brent Crude hitting $80 a barrel in Q4 2019, according to energy information provider Argus Media.

The market needs time to work through the current oversupply, Azlin Ahmad, editor for crude oil at Argus Media, told CNBC on Monday.

The OPEC+ combined production cut of 1.2 million bpd takes effect in January 2019 for an initial six-month period, with a possible review in April.

According to Argus Media, Brent Crude prices will trade at around $65 a barrel in Q1, some $68 in Q2, in the low $70s in Q3, and breaking above $80 per barrel in the fourth quarter next year, according to Ahmad.

On Monday afternoon at 01:30 p.m. EST, Brent Crude was down 4.42 percent at $51.71, and WTI Crude was trading down 4.41 percent at $43.58, as concerns about slowing economic and oil demand growth persist.

While some banks have drastically cut their oil price forecasts for next year, Swiss bank UBS expects Brent Crude to rebound to $70 and even $80 a barrel over the next 12 months. The head of asset allocation for APAC at UBS, Adrian Zuercher, told CNBC last week that while supply of crude oil was still abundant, this could soon change as the OPEC+ production cuts enter into effect.

While the recent oil price drop suggests many don’t believe these cuts will be as effective as the first ones in 2017, Zuercher noted a report by the Wall Street Journal that Saudi Arabia plans to cut more than initially expected, and the fact that Venezuela’s production would likely continue downwards as would Iran’s under the weight of U.S. sanctions.

[toploadermike] 24/12/2018 20:04

Cheers Jcg and the same to you and yours.

ATB
TL

[jcgswims] 24/12/2018 19:46

I'd like to wish all CERP holders a very Merry Christmas, hope you have a fantastic time, whether it be with family or friends, enjoy!

atb
jcg

[nexus7] 24/12/2018 19:45

OPEC in a ‘Whatever It Takes’ Moment to Prop Up Oil Prices

► Iraq, Kuwait, U.A.E. affirm Saudi’s call to extend OPEC+ deal
► Group’s president hints that deeper cuts could be considered

OPEC hasn’t even started implementing its new six-month agreement to cut output, and already members responsible for most of the reductions have pledged to extend or even deepen it.

Officials from Iraq, Kuwait and the United Arab Emirates agreed with Saudi Arabia’s expectation that the group, along with Russia and other oil producers, will extend the agreement for another six months. The U.A.E.’s energy minister, while stressing that the 1.2-million barrel-a-day cut will clear an inventory buildup in the first half, hinted additional curbs could be discussed...

[smoggyg] 24/12/2018 12:21

Merry Xmas to all my fans and not a prosperous New Year. Bah humbug,as my hero would say. :)

[smoggyg] 24/12/2018 07:00

Here is the truth but that will not get a mention on jcqswims rampers only thread. No wonder you all see a distorted picture.///////o Q1 peak production of 627 BOPD with 427-542 bopd delivered month on month

o Q2 peak production of 648 bopd with a steady 530-575 bopd delivered month on month

-- GBP1,030,000 incurred on capex and workover activities during 1H 2018
-- Netback per barrel of US$13.13 achieved in 1H 2018 (1H 2017: US$5.69 per barrel) /////// The net back is what Cerp actually receives for its oil not the WTI price.

[toploadermike] 23/12/2018 22:26

Yep still in PP,

Just away in Dom Rep ATM.

ATB
TL

[perfect pete] 23/12/2018 15:36

Toploader you still in?

[h van der h] 23/12/2018 11:06

Interesting comparison from Garnhiem on lse...

Garnhiem. 1,142 posts
RE: zak mir next target 3.8p
C’mon Irene..
The Recent share price hammering has not been solely limited to Columbus Energy, no matter what some will have us all believe..
To help put this into context using other Trinidad oilers
Look at the share price movements of Trin, Txp, Rrl for example..

Trin - sept/Oct 21p, now 11.5p.... 45% drop
Txp - sept/Oct 21p, now 10.75p..49% drop
Rrl. - sept/Oct 0.09p, now 0.0275p.. 70% drop..
Cerp- sept/Oct 4.3p, now 2.95p..30% drop


Goes to show this is more about world economics and general market sentiment than being directly aimed at Columbus...

Have a great Xmas all...

[the guardian] 23/12/2018 10:44

Good post carp. It's good to see that the current crude oil fiasco isn't affecting us very much.

From a fellow long term and short term sufferer, a very Merry Christmas to all.

Let's hope that 2019 finally sees some growth in our oil production because that is what the share price is based on, not promises.

[carpadium] 23/12/2018 10:08

Escaped from last minute shopping so, in light of company confirmation of WTI premium instead of discount, a fresh look at oil price scenarios relevant to IPSC production, Goudron and TI. Assuming Government and Petrofin royalties unchanged at 30% and ignoring possible 20% capex relief where SPT applicable.

Old scenario, high price.

WTI $65, discounted by 6% = $61, less royalties & SPT = $35.14

Current low price scenario.

WTI $45, premium @3% = $46.35, less royalties = $32.45

So, as the updated FAQ reply stated, the reduction in oil price impacts minimally on CERP's cashflow, the above $20 differential showing a minimal $2.69 pb.lost. The mid $50's price averaged over a quarter remains the range we don't want to see.

Happy Christmas to all and here's (once again!) to a complete turnaround in fortunes for all long suffering LTHs in 2019. Has to come!!

[nexus7] 22/12/2018 22:04

OPEC+ Battles To Halt Oil Price Collapse

Both Saudi Arabia and its partners from the Vienna meeting have been fighting to halt the recent oil price slide...

Saudi Arabia increases production cuts. Saudi Arabia could increase the size of its production cut after watching oil prices spiral downwards. According to the Wall Street Journal, Saudi Arabia will cut by 322,000 bpd from October levels, rather than 250,000 bpd.That would limit output to 10.311 mb/d for six months. The report offers a mixed message, however, since Saudi Arabia has already signaled that it could lower output to 10.2 mb/d in January..



Wall Street Journal

[nexus7] 22/12/2018 00:43

From share_talk Thu 17:38
------------------------------------------------
Bulletin Board Heroes@Share_Talk

Thursday 20th December 2018 @ZaksTradersCafe Highlights

Altona Energy #ANR
Brave Bison Grp #BBSN
Columbus Energy #CERP
Indivior #INDV
Maistro #MAIS
UK Oil & Gas #UKOG
Velocys #VLS
Wishbone #WSBN

… via @share_talk

[nexus7] 21/12/2018 20:33

Christmas gift?

UBS: Expect $80 Brent Next Year

Unlike some investment banks that were quick to revise down their forecast for crude oil benchmarks next year, Swiss UBS is rather bullish: its head of asset allocation for APAC, Adrian Zuercher, says Brent crude could rebound to US$70 and even US$80 a barrel over the next 12 months.

Speaking to CNBC, Zuercher noted that while supply of crude oil was still abundant, this could soon change as the OPEC+ production cuts enter into effect. While the recent oil price drop suggests many don’t believe these cuts will be as effective as the first ones in 2017, Zuercher noted a report by the Wall Street Journal that Saudi Arabia plans to cut more than initially expected, and the fact that Venezuela’s production would likely continue downwards as would Iran’s under the weight of U.S. sanctions...

[panda chops] 21/12/2018 18:19

well, thought we might get a surinam chrimbo present, hey ho not to be, see what 2019 brings, still long and strong and think we come good soon

have a good xmas all

[smoggyg] 21/12/2018 15:42

Down she goes.

[arrynillson] 21/12/2018 12:36

SmoggyG - I think you’re getting this confused with MRS which is in free-fall in comparison - lots of concern on the main MRS board about them SmoggyG - are you prepared to risk what little you’ve got left after your other disasters on a possible Share Suspension Saga!

[smoggyg] 21/12/2018 12:21

11:27:05 2.9250 102,768 O 2.9000 3.2000 Sell 252,000 716,662
11:25:12 2.9250 100,000 O 2.9000 3.2000 Sell 252,000 613,894
11:22:22 2.9300 100,000 O 2.9000 3.2000 Sell 252,000 513,894
11:19:40 2.9300 100,000 O 2.9000 3.2000 Sell 252,000 413,894
11:18:19 2.9250 100,000 ////// Looks like this is due another drop imo.

[smoggyg] 21/12/2018 08:22

From last results RNS covering 6 months.//////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

[smoggyg] 21/12/2018 08:09

This is the point with Cerp,it loses £4m per year and the reason is that it only gets between $5.69 and $13.13 per barrel (in the last two years) but then it has running costs....... New wells (not recently),workovers,well maintenance,staff salaries,AIM costs and other admin costs and Spanish decommissioning costs. They all have to come out of a meagre $5.69 - $13.13 a barrel income. That is Cerps reality,'but things are changing,it is all different now' shout the rampers but I remain skeptical,the next results are likely to show another £2m loss for 6 months imo.