Columbus Energy Resources Share Discussion Threads

[garnhiem80] 15/1/2019 20:09

To be fair, it looked like a really tough time for those living in the areas effected. https://youtu.be/wp2EQjCMi98

[garnhiem80] 15/1/2019 17:01

You've got the Catshill field within the same area of TI, I believe there's a water reservoir located in or around that field. So maybe TI isn't in the water basin effected area?

[garnhiem80] 15/1/2019 16:25

Maybe because as Leo had stated in the media, the Generators That were installed earlier in the year enabled continued production on Goudron until power was restored.. Apparently the only field producing (assumed in the effected area)? Who knows if TI or Beach were still producing and how long fields were out of action.

[chutes01] 15/1/2019 16:25

NP2,
The Taqa contract was 4 ex Shell rigs at cost of £400 Mio, yes only 6 staff started but they naturally inherited the others and the production, this came with massive, yes massive, de-comm costs which they still have not touched, koot was moved on in the end.
Im in with cerp, but let's see how he does, he presents well as he's a showman, but is there much substance behind it all to turn a profir here and cut a few decent oilfield deals ? do you know ?
Time will tell, but rather buy at 3p than 7p eh ?

[arrynillson] 15/1/2019 16:21

Dross - he doesn't need an excuse - he merely mentioned that weather had a hampering effect on ' both routine and incremental well work ' - managed to make up for it in December looks like ' new ' production of over 400 bopd - how much of that will be lost - how much increase from new work on South Erin mentioned in rns!

[arrynillson] 15/1/2019 16:14

Northpole2 - thanks for link - I must say the quote from the Trinidad Works and Transport Minister Sinanan was memorable - ' No amount of engineering can save you from this downpour ' - maybe rossannan thinks LK and the team are Supermen - perhaps they are to turn in those figures faced with such adversity!

[edgein] 15/1/2019 16:01

Offerman,

Hopefully yes, might even exceed that.

Regards,
Ed.

[arrynillson] 15/1/2019 15:31

chutes01 - last time we got to 1000 bopd production fell of a cliff and the share price tanked thereafter - seems like diversified production should avoid that situation so I'm more optimistic than previously - 12bn used to go on about LK having a magic wand - wouldn't go that far but he's doing OK in my book!

chutes - if you're unsure why not give it a miss no one forcing you to buy what's on offer - if you want to troll that's fine by me but I think you need to be a bit more assertive if that's your intention!

[northpole2] 15/1/2019 15:27

To those questioning the impact of the floods on CERP and why this didn't affect other companies so much, please look at the link below:

hxxps://newsday.co.tt/2018/10/21/pm-a-national-disaster/

For those that don't know where Goudron is situated, the nearest town is Mayaro which the report mentions was cut off from the rest of the country in late October with access only being by dinghies for many people. It's also worth noting that CERP operations staff usually have to travel through Mayaro to get to the field. This must have had an impact for a short period on the movement of people, facilities/rigs and getting access to wells, etc.

Other public oil companies are in different locations in Trinidad with different infrastructure, so presumably were faced with different issues (if at all). And Trinity also has offshore production which onshore floods and heavy rains don't tend to affect. No dinghies required there, unless they've introduced a new way of getting to the offshore facilities of course.

[northpole2] 15/1/2019 15:25

Interesting evaluation Chutes. So, is that the LK who started Taqa with 6 people and when he left some 4 years later over 2,000 staff were working for the company? The Taqa UK which was producing 60,000 bopd and valued at over $2 billion at the time he left? The guy who was then sent by very happy Taqa owners to do the same in Kurdistan, a field which is now producing 30,000 bopd?

The guy who at EDP turned a $300m investment in the North Sea into something significantly bigger for the investors?

I'm not sure the jury is out with the Taqa and EDP shareholders. Sounds like a pretty good track record to me and all on public record.

[arrynillson] 15/1/2019 15:21

To be fair rossannan is the only one to imply LK is lying and troll LayLadyLay had already posted contemporaneously pictures of tsunami like carnage implying there could be an impact on production but now that troll dross is majoring on it he's now not keen to tell us why he posted the pics in the first place - these trolls are tying themselves in knots!

[northpole2] 15/1/2019 15:03

To those questioning the impact of the floods on CERP and why this didn't affect other companies so much, please look at the link below:

hxxps://newsday.co.tt/2018/10/21/pm-a-national-disaster/

For those that don't know where Goudron is situated, the nearest town is Mayaro which the report mentions was cut off from the rest of the country in late October with access only being by dinghies for many people. It's also worth noting that CERP operations staff usually have to travel through Mayaro to get to the field. This must have had an impact for a short period on the movement of people, facilities/rigs and getting access to wells, etc.

Other public oil companies are in different locations in Trinidad with different infrastructure, so presumably were faced with different issues (if at all). And Trinity also has offshore production which onshore floods and heavy rains don't tend to affect. No dinghies required there, unless they've introduced a new way of getting to the offshore facilities of course.

[eggchaser] 15/1/2019 13:54

Notice how Dross avoids difficult questions yet goes to complex levels to post negatively about a company they don't invest in, don't trust yet pours hours of work into an unseen agenda.You think you are cleaver Dross but we see you, so do others. I would be very careful with what you post as the days of the Wild West are over and you are as accountable as any other poster. Be seeing you.

[offerman] 15/1/2019 13:33

Well said Rog. Nice post. Sorry I missed you there as I was present too.Definitely no harm in being cautious and like you I'm heavily invested too and nothing worse than slamming matches. Hence why I don't post much over on LSE and stated reasons why and can't understand folk there entertaining lll etc. All they want is failure for all.

[garnhiem80] 15/1/2019 13:13

At what depth does a "Big Prize" need to be?You never know, a "Big Prize" could be in an existing producing field in the SWP and acceptable from an existing well? Oh, Ross.. you are needed on TXP/Trin they need some "realistic" views on their updates.. sounds like there could be lots of cash burn, wishful thinking, running away with initial production figures! It all got far too Rampy ?

[arrynillson] 15/1/2019 13:03

Dross - why do we have to stick to your agenda - nothing wrong with people having some comprehension of the transformational impact of a successful deep drill - after all Soldado North averaged 15,000 bopd ( FIFTEEN THOUSAND BOPD ) over 50 years - and that's not a million miles away - 50 years would be OK for me!