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Share Name Share Symbol Market Type Share ISIN Share Description
Columbus Energy LSE:CERP London Ordinary Share GB00BDGJ2R22 ORD 0.05P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.05p +1.64% 3.10p 6,186,630 16:05:13
Bid Price Offer Price High Price Low Price Open Price
3.00p 3.20p 3.30p 3.05p 3.05p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 4.79 -5.02 -0.94 25.8

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DateSubject
23/3/2019
08:20
Columbus Energy Daily Update: Columbus Energy is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker CERP. The last closing price for Columbus Energy was 3.05p.
Columbus Energy has a 4 week average price of 2.25p and a 12 week average price of 2.25p.
The 1 year high share price is 6.15p while the 1 year low share price is currently 2.25p.
There are currently 830,881,192 shares in issue and the average daily traded volume is 1,427,718 shares. The market capitalisation of Columbus Energy is £25,757,316.95.
04/3/2019
09:03
offerman: Morning Carp, Not just that, but if newbies rely solely on the opinions and info of others and it seems most gravitate to LSE rather than advfn then they will be extremely put off by the paid trolls over there. I do agree with you as well that it is quiet but then Leo did say he had a plan for getting rid of the traders and of course no news and no buys does mean significant drops in any share price. On the flip side though if really really good news does come from M&A or SWP we will absolutely rock it probably even more so than the current BPC then we will stay higher on actual fundamentals and gain higher support levels. I can't really see the rise is warranted at the moment on BPC . It's rocketed recently from 1.6 to 4p today on no news only rumours of discussions with partners. I haven't actually drilled anything as yet and that would take a mammoth project as it would be a very deep sea drill in the Bahamas. And yet they keep rocketing up for no apparent reason even a recent or an S saying no reason for the share price rise did not hamper the rise and still it continues. I'm really pleased for all invested over there as I like to see any investor make money as that's what we are all here for so it's nice to hear success stories of people making money unlike myself who has lost a fortune. What phases me is the mechanics and what actually makes share prices react the way they do on no news. Obviously share price drops is explainable with no news but how does the share rocket and I've seen on quite a few show recently they rocket on no news. I think the problem here has been LGO and the legacy days so people are not confident they were initially but some of the very enthusiastic statements did not materialise from Leo which was not his fault as initial results from the well rejuvenations looks very encouraging back in 2017. Also the M&A that was said to be completed by the end of last year has not happened either. That's not to say it won't maybe the deal fell through or maybe they're just so many times and conditions and red tape to get through in order to finalise the deal and also to find the right financial way to pay for it either through debt debt for equity or future payment contract or a sharing contract of some sort. Only the management know the answer to this. When you start hitting here if it's good if it's big we will absolutely rock it probably like a sound energy type rise if we hit good oil Flowrates good API. I do personally believe the end of this year is going to be far higher than where we are currently on the share price and I don't see why nine or 10p is out of the question by year end.
25/2/2019
09:40
rossannan: The lesson that NR taught, which sadly seems appropriate for dealing with his successor, is to assume that anything an AIM oiler CEO says outwith an RNS (and sometimes in an RNS) should be treated as being no more than aspirational, at least until figures emerge which demonstrate that it has a firmer foundation. The CERP share price chart and continuing share price weakness confirm this. Time for LK to stop painting rosy scenarios and come clean about how he is really going to fund the SWP - that exercise could mark a real turning point here.
09/1/2019
10:14
jcgswims: From VSA https://www.proactiveinvestors.co.uk/columns/vsa-capital-market-movers/30452/vsa-capital-market-movers---colombus-energy-resources-30452.html Columbus Energy Resources (LON:CERP) Columbus Energy Resources (CERP LN) reported Q4 2018 production averaging 670bopd resulting in full year average production of 615bopd in 2018 which was up 67% YoY and ahead of our full year estimate of 600bopd despite the impact of severe weather and record rainfall in Q4 2018. Quarterly production was 9% lower QoQ as moving workover rigs and routine operations were prevented by flooding which made roads impassable in Trinidad. Gross revenues of US$3.23m were down 16% QoQ owing to lower production and lower oil prices which averaged 5% lower QoQ at US$57.58/bbl. That said, CERP achieved its year end target of 1,000bopd with peak production of 1,021bopd in the quarter. This included the initial production from the Snowcap 1 & 2 wells which achieved 70bopd after three years of shut in status. CERP had guided to an expected 100bfpd with part of the appraisal intended to assess the volumes of water production. After a successful appraisal we now expect pumped production to commence at Cory Moruga. We expect CERP production to bounce back from the impact of severe weather in Q1 2019 and workovers are continuing to progress across the operating fields, indeed the second pilot injection well at Goudron is ready for conversion to water injection in Q1 2019. CERP has guided that average production is likely to remain within the recent peak level in the near term which is line with our current expectations. This unseasonably severe weather does in fact demonstrate clearly the importance of CERP’s acquisitions through 2018, at attractive valuations, which have diversified the operating base to six operating fields. With a reduced reliance on Goudron the company is better placed to withstand one-off shocks such as this while the investment made in operating infrastructure such as backup generators has meant that production was able to continue despite a temporary loss of grid power. Indeed, despite the reduction in output CERP continued to generate positive operational cashflow from its Trinidad operations of US$0.37m (US$0.54m in Q3 2018) which is a strong positive, in our view, and a clear demonstration of the company’s capital discipline and more robust asset base. Cash at year end 2018 of US$2.6m (£1.7m) was broadly in line with our estimate of £1.5m while gross debt was further reduced to US$0.4m. This includes the net impact of the £2.5m fundraise in Q4 and repayment of the US$1.25m loan associated with the Steeldrum acquisition. This leaves CERP well placed to continue the optimisation of the six operating fields as well as make preparations for the major catalyst for the shares in 2019; exploration of the SWP. Based on our forecasts, CERP is fully funded for planned operations and drilling at SWP represents a potentially transformational event for the company given the estimated prospective resources of 1.3Bboe. In addition, CERP is the operator of the Innis Trinity field and the current work programme is funded by Predator Oil and Gas (PRD LN) through a farm in agreement. Workovers in the quarter continued to make progress although CO2 injection has not yet commenced with the submission of the Certificate of Environmental Compliance completed in Q4 2018. Recent share price performance has been soft and while we believe a combination of broad-based equity market volatility and a reduction in WTI oil prices have exacerbated the weakness the progress that management has made operationally and financially was not fairly reflected in the share price performance in 2018. A 67% YoY increase in production is an impressive and significant achievement and we expect continued progress in 2019. Although this was lower than originally anticipated at the start of the year and legacy costs associated with Spain have hampered financial performance we continue to forecast a reduction in the net loss from £5m to £3.4m in 2018 and a return to profit in 2019 demonstrating that the operational improvements are having a meaningful and tangible positive impact on the group financials. We believe that at the current share price CERP’s production potential, exploration upside and capital discipline is simply not reflected and continue to see significant upside potential. We reiterate our Buy recommendation and 21.4p target price.
07/11/2018
20:27
toploadermike: Hi John & TG, Thanks for the reply's, very comprehensive and welcomed. Yes I fully understand the MM's methods of working, my friend many years ago was a MM but the point again is that there is still no reason to reduce the share by 2 points for no reason, other than bad share management by either the broker or the MM. Now how they make a loss or profit is not and should never be a deciding factor on the share price of a company and this to me needs looking at officially and by request of the company owners as the impact to the company based on a MM or Broker position could be and has been known to be dramatic. It is important to understand that company's and the controlling factions all have different goals which often compete. Without going into too much detail it has been known for companies Boards to persuade their brokers and in some instances directly with MM's to keep their share price low in order to control situations like buy outs and reverse takeovers and I get that (although that's also probably illegal), but with CERP the foundations are now fairly strong IMHO and we really shouldn't be seeing such a low or reducing share price unless someone or something is manipulating the SP, which again "I believe is illegal" and although I would never say someone is doing such a thing, it looks very strange to me in this instance, as it makes absolutely no sense as to why the price is continually going south. So the board need to make sense of what is happening and reverse the constant downward slide. I am saying this now as if the price gets much lower the day trading mob will flood this share IMHO and then it's an uphill battle to re-establish reputation... I hope I am wrong more than you could imagine but again, the price is not where it should be and seems to me to be abnormally suffocated. Do we know how many MM's have been authorised to trade CERP shares? ATB TL
25/10/2018
07:56
smoggyg: 'Him' not 'them',as you pointed out in your very first post here. In fact you have only posted here,strange that,it is just as if you only joined up because of me,that reminds me of 12bm. Good to see that you devoted so much time and effort for little old me,you saddo. Here are your posts.///////EggChaser - 25 Oct 2018 - 08:30:24 - 68 of 69 CERP is a serial loser,watch out for more fund raising. - CERP Arry I can see quite quickly that this Smoggy/12bn chap is quite a fanny. I wouldn’t give them anymore of your time. EggChaser - 24 Oct 2018 - 16:07:27 - 6103 of 6113 Columbus Energy Resources PLC - CERP The boys and I were just trying to recall the last time we saw a larger spread and it wasn’t at Autie Ethel’s wake I can tell you. As TL said large buy order being filled as they don’t want you to buy them that’s clear. EggChaser - 22 Oct 2018 - 10:52:44 - 6072 of 6113 Columbus Energy Resources PLC - CERP Mike we agree hence why we think the latest cash call was much better than Lind being relied upon as the shares stay with the recipients for a longer duration. I see another 100k drip. How many more one wonders? EggChaser - 21 Oct 2018 - 20:53:18 - 6062 of 6113 Columbus Energy Resources PLC - CERP Offerman / TG et all. What we would like to know - who has been drip selling 100k chunks since earlier this year, could be DL or NR as we donâ€482;t think anyone else outside of Lind has a large enough holding to do this with? We think that until that’s done the share price will peg lower than where it could be as its contributed to holding us back. We also think that its a brilliant curve ball that MJ and Schroders have stumped up cash to accelerate the companies plans - Lind must have been rubbing their hands together until that happened. As I posted a bit back LK is quite an impatient chap and seeing his MO and his previous track record we don't think we have much longer to wait to see the next great step forwards will be. One huge point for us is the fact that we now have many other strings to our bow and are now far from a one trick pony especially with the frustrations we see in Spain. Time as always will tell but we and our holdings have the upmost confidence in LK, or unlike so many we would not be invested and continue to top up, when timings allow. Back to lurking. EggChaser - 19 Oct 2018 - 20:32:14 - 46 of 69 CERP is a serial loser,watch out for more fund raising. - CERP Arry I see the thread entertainer has gotten his landing wrong again - don’t think I saw 3.5 on the bid today? It backs our thoughts on the intelligence of said fool and how it’s impossible he or she is working alone. We suspect he/she needs their bottom wiping and packed lunch preparing each day but that is conjecture on our part of course. EggChaser - 19 Oct 2018 - 11:24:00 - 6043 of 6113 Columbus Energy Resources PLC - CERP Price drops on small volume… Shocker!!!! EggChaser - 17 Oct 2018 - 20:14:32 - 35 of 69 CERP is a serial loser,watch out for more fund raising. - CERP NorthPole I have read some of 12bn posts sorry Smoggy and I can’t understand for someone whom claims to be so cleaver why he continues to post about a company he obviously thinks will fail... All that energy wasted with negativity brings me and the chaps here to the conclusion that he/she or it is somehow benefiting from a lower share price which then makes me and the boys wonder who he is representing because he clearly does not have the intellect to be acting alone... The old adage give someone enough rope.... We are watching with interest... EggChaser - 16 Oct 2018 - 20:36:18 - 6020 of 6113 Columbus Energy Resources PLC - CERP I agree with that comment... well said that man/woman!!!??! EggChaser - 16 Oct 2018 - 20:31:29 - 27 of 69 CERP is a serial loser,watch out for more fund raising. - CERP So smoggy has an identity crisis? Looking at his posts and of his alter ego 12bn one can say without any question this is not the only thing this person struggles with. Arry the boys and I salute your attempts to reason with what appears to be pond life, if itâ€T82;s of any comfort we have our eye on him... I shall leave you to it. best of luck.. Smoggy if only your past investments were as on point as your grammar but clearly you're eyesight leaves much to be desired. I note your wit, investment choices and your personality are all on the same plane. EggChaser - 16 Oct 2018 - 10:05:11 - 14 of 69 CERP is a serial loser,watch out for more fund raising. - CERP Arry Smoggy is 12bn... you can tell by the dense tone of his posts and investment choices... I admire you're trying to help what appears to be a lost cause... but one that we have our eye on..
17/10/2018
06:03
smoggyg: Columbus is pleased to announce that, further to its announcement of 15 October 2018, it has today posted a circular (the "Circular") to Shareholders regarding the conditional placing of 71,428,571 new ordinary shares in the share capital of the Company (the "Placing Shares") at a price of 3.5 pence per share//// 71,428,571 new shares! This will inevitably take the share price down to 3.5p and probably lower. If you want an example of what happens after big placings then look at Cerps share price now compared with the 5p placing.NR did several placings here (when the company was LGO) and the share price fell and fell,only when Leo took over did it rise fast. The real reason for the falling share price is Cerp/lgo has always been a cash loser,it still is. Maybe one day LK will buy enough add ons to turn Cerp into a profitable company but it will be at the expense of present holders,via dilutions.
15/10/2018
07:09
smoggyg: I guess I was wrong on the placing,I didn't expect one until next year to fund a deep well,everyone makes mistakes. Here it is./////RNS Number : 9671D Columbus Energy Resources PLC 15 October 2018 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY SECURITIES IN COLUMBUS ENERGY RESOURCES PLC. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES OF COLUMBUS ENERGY RESOURCES PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL. 15 October 2018 COLUMBUS ENERGY RESOURCES PLC ("Columbus" or the "Company") Conditional placing to raise up to approximately GBP2.5 million Acceleration of growth strategy The Board of Columbus, the oil and gas producer and explorer focused on onshore Trinidad with the ambition to grow in South America, is pleased to announce a conditional placing, by VSA Capital Limited ("VSA"), with new and existing shareholders including Schroder Investment Management Limited ("Schroders"), Michael Joseph and Burggraben Holding AG ("Burggraben"), of 71,428,571 new ordinary shares in the share capital of the Company (the "Placing Shares") at a price of 3.5 pence per Placing Share (the "Placing Price") to raise approximately GBP2.5 million (before expenses) (the "Placing"), subject to approval by shareholders at a General Meeting proposed to be held on 2 November 2018. Highlights: -- Conditional Placing of Placing Shares at 3.5 pence per Placing Share to raise approximately GBP2.5 million (before expenses); -- The Placing Price represents a discount of approximately 6.67% to the Closing Price on Friday 12 October 2018, the last trading day prior to this Announcement; -- The Board intend to use the net proceeds of the Placing to: o Repay the North Energy Capital AS loan facility ("North Energy Loan") in the sum of US$1.25 million (instead of the intended drawdown from the 2018 Lind Facility which was referred to on 10 October 2018 in the Company's Business, Operational and Financial Update); o Establish and implement a multi-well drilling campaign on the Steeldrum assets and also in the South West Peninsula ("SWP") - driven by value and "best bang for our buck"; and o Upgrade facilities in the South West Peninsula, particularly at Bonasse and Icacos, to speed up oil production growth and sales and also allow for early sales from any exploration success at the SWP in 2019. -- The Placing is conditional upon the passing by Shareholders of a special resolution to waive pre-emption rights on the issue of the Placing Shares (the "Resolution") at a General Meeting of the Company to be held on 2 November 2018; and -- Dealings in the Placing Shares issued pursuant to the Placing are expected to commence at 8.00 a.m. on 5 November 2018. Leo Koot, Executive Chairman of Columbus, commented: "With the completion of the Steeldrum transaction, Columbus now has a diverse production base and multiple, large exploration prospects. This is despite the legacy issues we have faced over the last year, which have made a dent in our funds earmarked for further development and have slowed our pace of growth. "Today's announcement follows strong market interest from two of our major shareholders who approached us late last week to provide the additional capital needed to fund an accelerated growth strategy. It also introduces a new institutional shareholder to our share register, Burggraben, whose principals visited our operations in Trinidad with our Board for a few days in August 2018. The placing provides us with the financial flexibility to pay off the North Energy Loan, thereby simplifying and strengthening our balance sheet. As a result, we will no longer need to drawdown on the 2018 Lind Facility to repay the North Energy Loan. Our major shareholders were keen to stress that they would rather see the monthly repayments, that would have been required to have been made on that Lind loan if it had been drawn-down, being invested in more value-adding opportunities in our operations. "Columbus can now establish and accelerate a multi-well drilling campaign on the Steeldrum assets, capitalising on the optionality the acquisition of Steeldrum grants us, and also bring forward activities in the South West Peninsula region. From these assets, and our ongoing other work programmes previously announced, I believe we can make some very strong, quick returns on very little capex. "We are grateful for the long-term support from our shareholders and are delighted to welcome Burggraben, who expressed a willingness, after their visit to our operations in Trinidad, to invest in Columbus when the right opportunity arose. We remain committed to the further creation of value for all invested in Columbus and are confident that today's placing provides us with the springboard to deliver additional production growth that will in turn be reflected in our cash flow and the share price which, in turn, rewards everyone, including myself and the management team, who are still effectively using half their salary to buy equity on a monthly basis at 5.1p per share." Background to and reasons for the Placing 2018 has been a year of significant development and progress for the Company. The completion of the acquisition of Steeldrum Oil Company Inc ("Steeldrum"), has been a material step in the growth of the Company and establishes a very solid base for our Trinidad operations. The Company now has a large, well balanced portfolio of assets across the south and south-west of Trinidad. The portfolio includes low-risk but highly prospective exploration opportunities in the South West Peninsula, a development project in Cory Moruga and 5 producing oilfields (Goudron, Innis Trinity, South Erin, Bonasse and Icacos). This provides the Company with an excellent opportunity to exploit our existing and new assets through operational excellence and also grow organically through exploration and the Cory Moruga development project. We will now focus on growing production and revenues in Innis Trinity and South Erin through the adoption of a similar operational strategy to our existing fields. Company Loans The Company reported in its Business, Financial and Operational Update (Q3 2018) on 10 October 2018, that Columbus planned to drawdown US$1.25 million from the 2018 Lind Loan, announced on 13 July 2018 alongside the announcement of the Steeldrum acquisition, to repay a US$1.25 million loan which Steeldrum holds with North Energy Capital AS ("North Energy and "North Energy Loan"). The planned drawn-down under the 2018 Lind Facility, which was specifically envisaged within the 2018 Lind Facility when it was established, would require repayments to Lind by the Company over a two-year period at approximately US$62,750 per month. The Company would rather invest an equivalent amount in more value-adding operational and business opportunities. In addition, the Company wishes to improve its balance sheet by reducing its outstanding loan position and has been seeking a more efficient means of repaying its loans and also introducing additional capital for new growth opportunities. Recent discussions with two of the Company's major shareholders, Schroders and Michael Joseph, as well as with the principals of Burggraben, indicated a willingness by those investors to provide a combined total of GBP2.5 million of funds via the Placing to enable these objectives to be achieved. Use of Proceeds The Board believes that the Company has an excellent opportunity to capitalise on its producing and exploration assets in Trinidad and to accelerate its growth in to South America. It is the Board's intentions that the net proceeds of the Placing (amounting to approximately GBP2.365 million) will provide the Company with the capital required to not only pay off the North Energy Loan but also to continue to enhance its well-balanced portfolio of assets in Trinidad. The Board therefore intends to use the net proceeds of the Placing to: -- Repay the North Energy Loan in the sum of US$1.25 million; -- Establish and implement a multi-well drilling campaign on the Steeldrum assets and also in the SWP - driven by value and "best bang for our buck"; and -- Optimise facilities in the SWP, particularly at Bonasse and Icacos, to speed up oil production growth and sales and also allow for early sales from any exploration success at the SWP in 2019. Details of the Placing Pursuant to the Placing, the Company is seeking to raise approximately GBP2.5 million through the issue of 71,428,571 new ordinary shares in the share capital of the Company at a price of 3.5 pence per Placing Share. The Placing will be conditional upon the passing of the Resolution at a General Meeting of Shareholders intended to be held on 2 November 2018. The Resolution is needed authorise the Directors to allot the Placing Shares on a non pre-emptive basis. This authority will not extend beyond the Placing Shares. Further details on the Resolution will be set out in the Circular (as defined below). Application will be made for the Placing to be admitted to trading on the AIM market ("AIM") of London Stock Exchange, ("Admission"), and it is expected that Admission will become effective and that dealings will commence in the Placing Shares at 8.00 a.m. on 5 November 2018. The Ordinary Shares to be issued pursuant to the Placing will rank pari passu with the Existing Ordinary Shares. Schroders is a substantial shareholder of the Company as defined in the AIM Rules for Companies ("AIM Rules"). As such, Schroders is a "related party" pursuant to the AIM Rules and the proposed Placing of 21,428,571 Placing Shares to Schroders is therefore a related party transaction for the purposes of Rule 13 of the AIM Rules. The Directors consider, having consulted with Beaumont Cornish, the Company's nominated adviser, that the terms of Placing are fair and reasonable insofar as the Company's shareholders are concerned. VSA is acting as Financial Adviser and Broker to the Company in connection with the Placing. Total Voting Rights Should the Resolution be passed and upon completion of the Placing, the Company's new issued share capital will consist of 830,881,192 ordinary shares with a nominal value of 0.05p each, with voting rights ("Ordinary Shares"). The Company does not hold any shares in Treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights will be 830,881,192. Notice of General Meeting The Placing will be conditional upon the approval of the Resolution by Shareholders at the General Meeting to be held at the offices of VSA Capital Limited, New Liverpool House, 15-17 Eldon Street, London EC2M 7LD at 11.00 a.m. on 2 November 2018. A circular to shareholders (the "Circular") containing a notice of General Meeting and proxy card will be posted to shareholders no later than 17 October 2018 and will be available on the Company's website hxxps://Columbus-erp.com Importance of vote Shareholders should be aware that, if the Resolution is not approved at the General Meeting, the net proceeds of the Placing will not be received by the Company. Recommendation The Directors consider that the Placing is in the best interests of the Company and its Shareholders and is most likely to promote the success of the Company for the benefit of the Shareholders as a whole. Accordingly, in the Circular, the Directors will unanimously recommend that Shareholders vote in favour of the proposed Resolution, as they intend to do in respect of their holdings amount to an aggregate of 2,688,366 Ordinary Shares, representing approximately 0.35% of the Company's Existing Ordinary Shares. Contact Information
21/9/2018
10:17
offerman: What intrigues me is the actual ways shares move up and down. People often say it's through buying and selling.Today is a classic example of something else that's able to move or manipulate a share price. We have had a couple of small buys and a couple of slightly larger sells and yet the price moves up. So unless there is a buyer in the background and there will be a late reported delayed buy I can't see what else actually moves the share price. I know news is up and coming with the update but I wonder what actually makes the share price go up and what or who presses buttons to set the price. As at the moment it doesn't seem to be based on buys and sells.There was a period of 7- 8 months I'd say of consistent sales on a daily basis then we had recently big MJ buying a few more. So today we are up nearly 3% but on what? And who. I'm just merely interested in the mechanics of who or what actually changes the share price stipulates I know market-makers can as well. Whether they physically push buttons I have no idea . Sometimes there can be buys and no share price movements likewise with sells . Would love to see the actual inside workings on the way is that share prices move like a documentary or something
27/5/2018
08:17
the guardian: The rising price of WTI didn't seem to create a rise in CERP share price. Let's see what a fall in WTI does.
22/4/2018
11:07
rossannan: Brasso3 I don’t think it is a reasonable MCAP for a company that produces 540bopd with turnover (not profit) of £8m - £9m. It is far too high unless you take CERP’s prospects into account. Not sure though that the CERP share price would (or at least should) take a beating just because production slips a little below the low case - the key things are remaining CF+, retaining a healthy cash balance and how planned future growth is to be funded. Funding and financial management are the key. BOPD and/or reserve increases mean nothing if they are bought with dilutive share issues or unaffordable debt. For example, if TXP’s production was shown in its next RNS to have slipped back to 1500bopd, its share price really would crater, even from where it is now, because of its very significant debt. If WF at Goudron turns out to be a slower burner than expected it’s not such a big deal because CERP has no significant debt.
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