Columbus Energy Resources Share Discussion Threads

[rogsim] 15/1/2019 12:40

I am (for me) heavily invested in CERP and I attended the Investor Presentation in London last September.

As I posted after that meeting, I am impressed with Mr Koot, but also cautious concerning his super-positivity. Reading this BB, and that on LSE, it seems that cautious posters are unpopular and this is not helped by the constant repetition of + and - points that BBs appear to encourage. I make no apology for being cautious, have no wish to join in slanging matches, and hope to recover my paper losses in time.

[arrynillson] 15/1/2019 12:38

12bn - credit where due - every amoeba has it's day. A deep drill is a bit like a huge stake casino roll - not many would put the housekeeping on it.

The softly softly approach keeps the company progressing on the bread and butter fields which are already cash flow positive and extrapolating into the future will be profitable after G&A.

The shallower drilling may yield some valuable extra production as we go - don't forget 12bn the SWP private petroleum license is almost twice as profitable than the IPSC? Also handy for development of infrastructure to handle the gusher when it arrives!

[offerman] 15/1/2019 12:29

Hi Ed, And won't Herrera produce around 1000-1500bopd possibly ? There abouts.

[12bn] 15/1/2019 12:04

Edgein15 Jan '19 - 10:18 - 6838 of 6838
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Carp,

Yes that's what the shallow formations may be capable of and a secondary target for CERP. But the main target is likely to be the deeper Herrera formations.

Regards,
Ed./////// Cerp/LGO was looking to drill a deep well into the Herrera sandstone level back in 2011 but it never happened,WHY? The cost! Back then $15m-$20m was muted as the likely cost but I accept that it may well be less than that now but can Cerp afford to drill a 12000 ft well? I doubt it and I doubt it will be attempted this year,a shallow well may be attempted. Back in the 1960s when a deep well was attempted the drill bit got stuck and the attempt was abandoned never to be tried again. I do think that there is a lot of oil in the deeps there but the risk is high.

[edgein] 15/1/2019 10:18

Carp,

Yes that's what the shallow formations may be capable of and a secondary target for CERP. But the main target is likely to be the deeper Herrera formations.

Regards,
Ed.

[arrynillson] 15/1/2019 10:11

Dross wasn't expecting that information to be used for ramping - nicely spun!

[carpadium] 15/1/2019 09:58

rossannan has at last produced a post on LSE worthy of repeat here.

TXP has a couple of blocks that are SWP adjacent if not in fact SWP - WD-4 and WD-8 where they are targeting the same formations that CERP will be targeting later this year. TXP’s production from these blocks is worth studying. From TXP’s update today:

“During the fourth quarter of 2018, we successfully drilled two wells on the WD-8 block and one well on our WD-4 property.
The FR-1800 well was spud on November 1, 2018 and reached a total depth of 4,700 feet. Wireline logs indicated the presence of approximately 588 feet of net oil pay, 456 feet in the Forest formation and 132 feet in the Cruse formation. The well was completed on December 21, 2018.
The FR-1801 well was spud on December 10, 2018 and reached a total depth of 4,564 feet on December 23, 2018. Wireline logs indicated the presence of approximately 306 feet of net oil pay, with 188 feet in the Forest formation and 118 feet in the Cruse formation. The well was completed on January 4, 2019.
Both wells are currently flowing up casing at a combined average field estimated production rate of approximately 242 bbls/d (based on the previous seven days to January 13, 2019). The Company anticipates that initial flush production rates will likely decrease, with the wells being placed on pump during the first quarter of 2019.

PS-605 was spud on our WD-4 block on December 4, 2018, reaching a total depth of 7,250 feet on December 27, 2018. Wireline logs indicated the presence of approximately 608 feet of net oil pay, with 461 feet in the Forest formation and 147 feet noted in the Cruse formation. Completion operations have commenced on PS-605 and are expected to be concluded by early February.”

[eggchaser] 15/1/2019 00:34

Dross explain why you keep repeatedly posting negative spin backed with out any credible knowledge or understanding about a company you are neither invested in or think they are not worthy of investment from you?We have to say that given enough rope you will hang yourself and you should remember that there is no hiding behind your avatar once investigations begin into your inaccurate ramblings and manipulated opinions. Charlatan is too polite a word to describe you.We are just waiting to see you cross that line. I don't think we need wait long, but know others are watching you.

[nexus7] 14/1/2019 18:47

Saudis Say OPEC+ Oil Cuts on ‘Right Track’ to Balance the Market

► Energy Minister Al-Falih sees shale as a check on volatility
► Oil prices are up more than 20 percent since December lows

Saudi Arabia’s energy minister has no quarrels with U.S. shale and even sees output cuts by OPEC and its allies as directly aiding American drillers.

“The action we have taken, quickly in December and that we’re seeing implemented as we speak, is a lifeline to U.S. shale producers,” Khalid Al-Falih said at a conference in Abu Dhabi...

[12bn] 14/1/2019 18:23

rossannan14 Jan '19 - 16:16 - 347 of 347
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EggChaser

How so? Northpole2 deploys the old netbacks argument to provide his version of CERP’s cashflow but the audited accounts and quarterly bank balances show pretty clearly what is really going on and what , at $52 WTI, is likely to continue - cash burn.////// Well said rossannan.

[eggchaser] 14/1/2019 14:22

It's surprising to see how Dross has the inability to digest relevant information Arry.At least 12bn aka Smoggy has an excuse for being a Neanderthal - it can't be easy to exist on the planet with just one brain cell.

[arrynillson] 14/1/2019 14:04

12bn - I know you are not very good at comprehension so I suppose I will have to point out they announced cash flow positive from operations yet again despite the severe weather impact which troll LayLadyLay is endorsing robustly over on LSE!

All these positive results are progressing CERP towards a much better future 12bn - I know you are stuck in a time warp re CERP - you'll probably want some blasphemy about Ritson etched on your grave stone but most people have got used to LK and new colleagues - even troll Irene on LSE says they are an impressive team!

[12bn] 14/1/2019 13:45

I hear that there could be a deal,sometime in 2019 but it is only January! Maybe they will not need a cash call diluting the present holders but maybe pigs will fly as well, so you better buy bacon instead of Cerp shares! :)

[12bn] 14/1/2019 13:40

Columbus Energy Resources Ord 0.05p (CERP) Trades
2.93
-0.13 (-4.10%)
live: 1:37PM GMT
Buy Volume 66,252 Trade Low 2.86
Sell Volume 889,275 Trade High 3.09
? Volume 0 VWAP 2.97
Total Volume 955,527 Prev day Vol 0
Status: Connected
(Pause Streaming)
12:06:05 2.8550 20,000 O 2.8500 3.0000 Sell 66,252 889,275
12:01:11 2.9180 75,503 O 2.9000 3.0000 Sell 66,252 869,275
11:55:37 2.9180 500 O 2.9000 3.0000 Sell 66,252 793,772
10:07:07 3.0000 16,466 O 2.9000 3.0000 Buy 66,252 793,272
10:05:23 2.9250 200,000 O 2.9000 3.1000 Sell 49,786 793,272
10:02:14 2.9300 300,000 O 2.9000 3.1000 Sell 49,786 593,272
09:42:53 2.9300 16,404 O 2.9000 3.1000 Sell 49,786 293,272
09:20:50 3.0310 250,000 /////// Wow,heavy selling,does someone know of another placing/warrant exercise/sub-contractor share issue? Cerp does do a lot of placings and there was no mention of their GROUP losses in the last RNS. Ominous.

[arrynillson] 14/1/2019 10:02

12bn - do you think Bachman is selling CERP as well ( to buy back later at a higher price LOL!)

[12bn] 14/1/2019 09:55

09:42:53 2.9300 16,404 O 2.9000 3.1000 Sell 49,786 293,272
09:20:50 3.0310 250,000 O 3.0000 3.1000 Sell 49,786 276,868
08:27:57 ////// Oh dear,someone wants out or is there another placing/warrant issue being forward sold? Ominous! New lows to be tested soon perhaps?

[arrynillson] 14/1/2019 09:41

12bn - you haven't mentioned the OVER 1000 BOPD peak performance achieved by the new man Leo Koot in spite of speculation about tsunamis, bubonic plague and the odd meteor strike!

[arrynillson] 14/1/2019 09:14

Rossannan - try reading the Goudron IPSC terms - if you did you'd know that the massive, around 100%, increase in production was paid at the top rate - makes a huge difference to the numbers!

Both you and 12bn choose to stay in ignorance so you can mislead - I choose to call you out on it!

I see dross is now saying WTI at current levels is an issue for CERP despite it being much higher than the level it was when LK took over following which dross ramped the Shyte out of it 24/7 - disingenuous too polite a name for dross!

[12bn] 14/1/2019 09:06

Looked at the 4th quarter results,bad weather affected them I see,shame that,who could have expected that in the hurricane season? Never mind,jam tomorrow anyone?

[ccr1958] 14/1/2019 08:54

Morning chaps , come on Leo give us a deal .

[12bn] 14/1/2019 08:49

Oh dear,threats of legal action I see,another attempt to stifle any negative debate? It is all hot air imo but 'toploader sues Donald Duck Rossanne ' is silly.///////toploadermike11 Jan '19 - 19:54 - 6818 of 6833
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Jcg,

I hear you and not bothered about the red or green ticks, but I'm not allowing someone to post on other boards attributing something to me that I have not said. You wouldn't accept it and neither will I. If you read the posts you will see I replied to Arry and all the others on here so it is not me who is filling up the boards with non CERP related comments, or if I am I am just responding to others comments, maybe they should refrain? It's up to you of course!
kazz11 Jan '19 - 19:58 - 6819 of 6833
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Mike
TBH, I did see Ross had cut and pasted what you said here, but didn't really look into any comments he made, as I don't really listen to him.So apologies for that.I thought your gripe was that he had reposted your comments on another board
I do respect your enthusiasm for CERP, but personally do not like legality creeping in to a free bulletin board. Most of us here I suspect hate the legal system. You have to appreciate a lot of us have been here a long while and are underwater here, we like to keep it nice and friendly

Anyway, here's to a good week next week
Regards...Kazz