Columbus Energy Resources Share Discussion Threads

[ccr1958] 24/10/2017 16:09

Little tick up this PM on very low volume :)

[holly day] 24/10/2017 15:54

There's likely to a lot of small PI's holding their shares in certificated form will probably find £20 to £50 allotment not worth the hassle imo. So, there could well be some loose shares to be re-allotted.

[greatfull dead] 24/10/2017 15:50

offerman,

Why do you doubt that all or PART of the excess applied for by PI will not be given?

ATB,
GD

[offerman] 24/10/2017 15:44

Just phoned H-l Open offer shares all sorted. Applied for excess too but doubt any of us will get these .

[crosseyed] 24/10/2017 14:46

Re post 1685:
...Managing Director of TAQA UK where he [Mr Koot] built the organization from a few people to an organization of over 2,000 staff and contractors and delivered a mature E&P operating company that managed 60,000 bopd production with US$1.7 billion in annual revenues.

and

The new leadership team (Exec. Chairman, CFO and COO), appointed in May/June 2017, are taking 50% of their remuneration in shares, aligning themselves with new investors who invested in the last equity round in late March 2017.

All very positive, especially from a shareholder's viewpoint.

c

[greatfull dead] 24/10/2017 14:36

Admission effective and dealings in the Open Offer Shares expected 8.00 a.m. on 7 November

That will do me.

GLA,
GD

[the guardian] 24/10/2017 14:32

All of a sudden, it looks like other people are expecting something too.

Onward and upward.

[ccr1958] 24/10/2017 14:19

Aye aye ..

[northpole2] 24/10/2017 14:06

Oh woe is me.... Don't panic Captain Mainwaring. Don't panic! We'll call 12bn Corporal Jones from now on.

[12bn] 24/10/2017 13:37

One year later RRL is bust. Share value NIL! BEWARE,CERP are trying what sunk RRL.

[jcgswims] 24/10/2017 12:14

Indeed pr100. If Leo is speaking on Mon 30th I too am hopeful of an operations update, either late this week or Monday morning.

[pr100] 24/10/2017 11:59

Thanks for the heads-up. This obviously went to press before the Schroder placing.

[jcgswims] 24/10/2017 11:47

Columbus Energy Resources – Management Interview

Tell us a little about you and your team’s background and any career highlights so far.

A leadership team which has delivered significant shareholder value in the past (many US$100’ millions).

Mr Koot is a Dutch national, currently residing in the UK, with over 28 years of industry experience. During his extensive career, he has run oil and energy businesses and has been an active board member, most recently with AIM listed Sterling Energy PLC as Senior Independent Non-Executive Director.

Mr Koot's global energy experience includes his role as Managing Partner of MENA Gulf Investment Partners (Abu Dhabi), President of Abu Dhabi National Energy Company's TAQA Iraq and Managing Director of TAQA UK where he built the organization from a few people to an organization of over 2,000 staff and contractors and delivered a mature E&P operating company that managed 60,000 bopd production with US$1.7 billion in annual revenues.

Prior to TAQA, Mr Koot was CEO of Energy Development Partners, an oil and gas business creating ways to match capital and resources with developing production, for which he helped raise a US$350 million private equity fund to drive business growth. Mr Koot has a Master in Petroleum Engineering and a business degree from Harvard Business School.

Gordon Stein is a member of the Chartered Institute of Public Finance & Accountancy and was the CFO of AIM-traded Madagascar Oil Limited from June 2013 to October 2016.

Mr Stein was previously CFO at Cadogan Petroleum plc which is an independent oil and gas exploration, development and production company with onshore gas and condensate assets in Ukraine. Preceding this, was CFO at Vanguard Energy Limited and Regal Petroleum plc. He has also held senior financial and operational management positions in Fairfield Energy Limited, Acorn Oil and Gas Limited, LASMO PLC, Monument Oil & Gas plc, Centrica plc and BG pc. Mr Stein has over 23 years’ experience in the upstream oil and gas sector in the UK and internationally, including Ukraine, Tunisia, Venezuela, Algeria, Madagascar and Turkmenistan, and has raised over US$1.5 billion to fund companies he has been CFO of.

Mr Stewart Ahmed has 32 years oil industry technical, commercial and management experience, most recently as Chief Operating Officer and General Manager of AIM Listed Madagascar Oil in Antananarivo from 2013-2016. Operating the Tsimiroro Field steam flood pilot, he gained the first Field Development License in Madagascar’s history.

As General Manager of Dove Energy in Sana’a, Yemen, Mr Ahmed discovered, developed and operated a number of onshore oil-fields peaking at 25,000 BOPD. Subsequently he managed the exploration license seismic and drilling work programmes as General Manager of Dove Energy in Damascus, Syria and Midas Oil and Gas in Yemen.

He performed the position of Petroleum Engineering Manager for RDS Resource, a leading Aberdeen based Subsurface Consultancy from 1997-2000. Prior to that Mr Ahmed worked for 12 years for Chevron in the UK North Sea and Gulf of Mexico as a Petroleum Engineer and Commercial Analyst.

Mr Ahmed has a BSc in Mining and Petroleum Engineering and is a Member of the Society of Petroleum Engineers.

What is the focus of your management team for the next 12 months, and what are the key milestones you are looking to reach that you think will add value to the business?

Late 2017 Positive Cash flow: We have a solid core asset base onshore Trinidad with very low operational costs. We are moving toward running and managing our activities from our own cashflow and believe this will put us in a strong position to grow the business further. By doing the basics, we can steadily build production levels and operate at a sustainable rate.

Value Growth Production and Exploration: While we create the pressure support and stimulus to the Goudron asset field assets to increase production levels, it’s the exploration opportunities that will help us transform our business. We believe we have world-class exploration opportunities onshore in south-western Trinidad, involving relatively low-cost and low risk exploration wells with material upside potential (many 100s millions/barrels). We will look to drill the first of these exploration wells in 2H 2018 and are very excited by their potential.

What do you see as the key risks and challenges your company facing at the moment and how are you overcoming these?

We have made significant changes to the business since mid-2017 through the leadership and strategy changes and have seen positive results to date in our operations and share price. However, we need to strengthen our operational capabilities in-country to maintain steady growth and are currently taking action to address this. Whilst we believe we can fund our planned future work programmes from cashflow generated from our operations, the pace of our growth may well be constrained by our available capital resources going forward. We are therefore looking to establish partnerships with entities who can see a win/win opportunity through the potential of working together, potentially accelerating certain activities and sharing the value growth we believe is possible.

What is your main aim in coming to the 121 Oil & Gas Investment conference?

We have recently re-launched Columbus with new leadership, a new strategy and have seen our share price nearly double over the past month through recent news in the market. We are looking to engage with investors interested in hearing our story and our plans. We have no imminent plans to undertake a raise as we plan to be cashflow positive as a business by the end of 2017 but are always open to establishing partnerships with investors which might allow us to accelerate our ambitious plans in 2018 and beyond.

Investors like to see that management have “skin in the game”. Tell us briefly about your management team’s investment in the business.

The new leadership team (Exec. Chairman, CFO and COO), appointed in May/June 2017, are taking 50% of their remuneration in shares, aligning themselves with new investors who invested in the last equity round in late March 2017. Management wish to invest in the Company in future when they are able to under LSE regulatory rules and would wish to co-invest alongside any new partners who the Company agrees to move forward with. The team has a track record of doing this.

Columbus is opportunity rich in Trinidad, believes it has world-class exploration assets and a leadership team with a track record of delivering material shareholder value.

[12bn] 24/10/2017 10:44

'All down to planning and good risk mitigation practices.' PMSL, if the water works its way to 12000 ft then all the 'good planning and risk mitigation' will join the cash and disappear down the hole!

[the guardian] 24/10/2017 10:19

Extra today. Only a small amount because the rest is in my TD account in order to finance my entitlement and extra shares under the OO.

I'm expecting (hoping) an operational update next week once the OO has been sorted.

[northpole2] 24/10/2017 10:10

Oh yee of little faith... isn't it just possible, just possible, that LK & SA know what they are doing and the risks associated with waterflood? Given that they've done this many times before (LK was producing 65k bopd at Taqa using waterflood!)? Waterflood has been successfully applied around the word for 40+ years... yes there are risks but just because some companies in Trinidad have had issues doesn't mean CERP will have the same issues. All down to planning and good risk mitigation practices.

[12bn] 24/10/2017 08:58

So RRL went bust trying water-flood in Trinidad but Koot is going to make holders rich trying the same thing! Yeah,that sounds likely.

[offerman] 24/10/2017 08:39

TGIn open offer or extra today?

[the guardian] 24/10/2017 08:28

I'm hoping that this is now the bottom. Not much money to spare but bought 12100.

[12bn] 24/10/2017 08:24

This what happened to Range Resources RRL after it's water-flood campaign in Trinidad. I suggest that holders check it out for themselves./////////TIDMRRL

RNS Number : 6699Q

AIM

14 September 2017

NOTICE

14/09/2017 7:00am

NOTICE OF CANCELLATION OF ADMISSION TO TRADING ON AIM

RANGE RESOURCES LIMITED

Trading on AIM for the under-mentioned securities has been cancelled from 14/09/2017 7:00am, pursuant to AIM Rule 41.

ORDINARY SHARES OF NO PAR VALUE, FULLY PAID (DI) (B28QX48) (AU000000RRS3)

If you have any queries or require further information, please contact the company's nominated adviser on [phone].

This information is provided by RNS

The company news service from the London Stock Exchange

END

[offerman] 24/10/2017 07:53

T.G. Sure , makes complete sense , apologies for confusion .

[the guardian] 24/10/2017 07:50

Offerman,could you please use the initials TG when asking me a question because you use GD which is also Greatfull Dead and therefore confusing.

[12bn] 24/10/2017 07:35

If the shallow oil has migrated from the deeps,as its density suggests,then water may easily end up there and have little or no effect on the shallow oil. I suggest that you look into it Northpole2,that may be better than just rejecting the idea as 'wrong',it is your share of choice.

[o1dsmokie] 24/10/2017 07:27

So many experts on bb`s, so often wrong, check out XEL who went bust despite raising some oil from the depths.
AIM is for bod members to make themselves millionaires at the hands of naive muppets, they never fail to do so either,