Columbus Energy Resources Share Discussion Threads

[holly day] 01/11/2017 15:09

Just to clarify, with this team, I have no problems with further placings/OO as long as it is ACCRETIVE and newsflow backs up the progress. With NR, it was for survival, begging bowl, repeat....different ball game now! GL all.

[ccr1958] 01/11/2017 15:03

I sold some UKOG to fund my extras wish I hadn't bothered up 21% since I sold ...Hey Ho, musn`t be greedy .. LOL. :))

[holly day] 01/11/2017 15:02

The Guardian1 Nov '17 - 12:51 - 1819 of 1826

That's precisely what I said the other day. Dealing with numerous PI's is costly and then add the cost of paperwork and transfer related fees for the excess shares. Unfortunately when the RNS for placing and OO was released, the share price was 14% premium to the offer price.... of course it rallied further. The whole episode has put a bit of a stop on trades and news flow. Well, only have another week to put a line under this. Just hope they don't come back with another placing and OO to move up another gear in their development phase. Personally I'd like to see a news re. cash positive from production and a forward statement to create a new floor for the share price ...say, 10p!

[blindsquirrel] 01/11/2017 14:54

The Guardian, thanks for the clear explanation.

[currypasty] 01/11/2017 14:41

I guess all will be revealed tomorrow.. Im not getting my hopes up for a filled extra allocation though

[neversatisfied] 01/11/2017 14:36

blind squirrel ..my HL account showing the same..I also asked for 5000 :)

[offerman] 01/11/2017 14:29

olly Day - 01 Nov 2017 - 12:32 - 1818 of 1822 - 0Hi holly Excellent post.

[the guardian] 01/11/2017 14:20

Your CERP funds are currently locked in place. That is not an indication of how many extra shares you will receive. Your account is showing what you applied for, not what has been allocated to you.

Expected time and date of announcement 7.00 a.m. on 2 November
of results of the Open Offer
Admission effective and dealings 8.00 a.m. on 7 November
in the Open Offer Shares expected
to commence on AIM
Expected date for crediting 8.00 a.m. on 7 November
of Open Offer Shares in uncertificated
form to CREST stock accounts

As can be seen from the above, you will find out how many shares you will be receiving tomorrow morning. They will then be available to trade on nov 7th and any excess monies will be returned to your account on or before then.

Sorry that the timetable is out of alignment.

[blindsquirrel] 01/11/2017 13:28

Hi,
I applied for the OO and asked for an additional 5000 shares. Today the money was taken from my HL account, the shares are showing in my account but currently not available to trade. Anyone else have this and when will they be available to trade?
Thanks

[edgein] 01/11/2017 13:00

TG,

I reckon he did what he could, he could have gotten away with a much bigger OO, but its probably a dilution vs reward situation. Wanted to give shareholders the opportunity like Schroders without going overboard on the raise as they're now sitting on millions regardless. He's in the comfortable situation of not really needing the money at this stage. As we're turning cash flow +ve the increased production and oil price will basically pay for Goudron, any free cash will likely be used towards acquisition or next years multi well campaign in the SWP. I don't mind that the allocation was small, if I want more cheapuns all I need to do is call my broker.

Regards,
Ed.

[the guardian] 01/11/2017 12:51

It was good of the board to think of shareholders by giving them access to discounted shares BUT in view of the size of the allocation, the cost of the exercise and the stalled share price, I wish they hadn't bothered.

[holly day] 01/11/2017 12:32

bobsha, FWIW, imo, I think we will stagnate here until at least the 7th, a bit of a pennant formation if you like. I think in the absence of any news, all eyes will be on how many will be looking for a quick buck from the OO and mm's may play on that uncertainty. There is of course a lot of news flow expect, but I'd rather now wait 'til the OO dust settles.

[bobsha] 01/11/2017 12:23

I think pi have realised they are not going to get there additional shares, only what they are entitled to so are now buying on the open market and forcing price up. bobsha

[bloke4] 01/11/2017 12:12

thanks nexus7
Good to see clarity reigns supreme
If this dips to under 6p after the allocation I shall go for another tranche.

bloke4

[greatfull dead] 01/11/2017 10:47

Nexus,

Thank you for the recomfirmation. I posted something similar.

Greatfull Dead 30 Oct '17 - 23:54 - 1800 of 1814

ADB,
GD

[edgein] 01/11/2017 10:26

At this rate shouldn't be too long before we get the key cash flow +ve RNS either.

Regards,
Ed.

[edgein] 01/11/2017 10:25

Wow look at the oil price go. Above $55 and CERP are budgeted for $45/bbl, LK and co will be over the moon at present, especially as they're the ones holding the internal production projections. Looks like there'll be a juicy number of workovers in the next update at this rate. Would be great if LK can purchase that new kit and get us up to 2 per week.

Regards,
Ed.

[nexus7] 01/11/2017 10:16

From jcgswims Today 09:39
-------------------------------------

RE: OO

This is from Iweb. Money for excess shares is taken first and refunded if you're not successful.

"If you accept the Open Offer, the New Ordinary shares are expected to be credited to your account on or after 7th November 2017. These shares will not be available to sell until this time. If for any reason the Open Offer is not completed, any payment you have made will be returned and you will be notified.

Please note that elections for excess shares will only be satisfied to the extent that other qualifying shareholders do not take up their full entitlement and so may be subject to scaling back. Should you apply for excess shares and these are not satisfied in full, the cash refund will be returned to you as soon as it is received from the Company Registrar.

[nexus7] 01/11/2017 09:58

Saudi Arabia Leads Gulf Nations in Cutting Break-Even Oil Price

→ IMF sees oil prices at $50 to $60 a barrel for ‘medium term’
26 Iran, Iraq, Kuwait, Qatar will have budget surpluses in 2018

Saudi Arabia, OPEC’s biggest oil producer, is also a leader when it comes to slashing the crude price the country needs to balance its budget.


The kingdom will need oil to trade at $70 a barrel next year to break even, the Washington-based International Monetary Fund said Tuesday in its Regional Economic Outlook for the Middle East and Central Asia. That’s down from a break-even of $96.60 a barrel in 2016, the biggest drop of eight crude producers in the Persian Gulf. The break-even is a measure of the crude price needed to meet spending plans and balance the budget...

[the guardian] 01/11/2017 08:00

WTI $54.9.

[ccr1958] 31/10/2017 19:45

T G , I did look at post 1798 ,that's why I asked ,to see if there was anything else ... Like I hadn't seen the post :))

[nexus7] 31/10/2017 18:54

From Dazbrad Today 17:21
------------------------------------

Schrodders
Anyone know what extra info the big guns are privy too? The reason I ask is that surely multi billion dollar multinationals don't take outright gambles on AIM based on a story and the results of three excellent well optimisations? ....Just a thought.

[nexus7] 31/10/2017 18:47

From Garnhiem. Today 12:30
-----------------------------------

RE: SWP
31 March 2017

LGO Energy Plc

("LGO" or the "Company")

Fundraising of £2.5 million (US$3.3m/TT$22m)

“Close the existing arrangements with Beach Oilfield Limited to acquire a 100% controlling interest and access to their petroleum leases in the SW Peninsula of Trinidad;”

Unaudited Interim Results for 6 month period ending 30 June 2017.

“In early 2017, LTL recently signed a Sale and Purchase Agreement ("SPA") with BOLT to acquire the entire shareholding in BOLT and thereby place the operatorship of the leases held by BOLT in LTL's hands. As discussions with various parties have not been completed LTL has delayed the completion of the acquisition of BOLT and as a result the longstop date in the SPA, previously 30 April 2017, was mutually waived by the parties.

The Company has recently appointed a specialist adviser to help close out the SPA and other outstanding matters and the Company anticipates closing the SPA in Q4 2017.”

Could explain why £1.68m was still in the bank at the end of June.

[the guardian] 31/10/2017 13:06

I see jcg. Thank you. So as we expected, nothing new was revealed. I am expecting news immediately after the OO has been completed because leaving us to wait until the end of the year would be too long.