Columbus Energy Resources Share Discussion Threads

[susiebe] 21/12/2017 15:32

me too.Would be rude not to,an early Christmas present!

[ccr1958] 21/12/2017 15:30

I couldn’t help my self I have had a few more !

[ozzmosiz] 21/12/2017 15:18

someone is also buying - 2 x 250K buys, 2 x 100K buys post 1pm and a few over 100K too.
and this above the offer:
15:21:39 5.7500 205,548 O 5.6000 5.7000 Buy 11,787,095 8,790,547

[arrynillson] 21/12/2017 15:07

12bn - interesting to see you were featured twice in CERP video - came in the headings section - after GOOD!

[meep] 21/12/2017 14:42

Northpole, obviously some costs go up the more you produce. Including needing more staff. I don't know what Cerps true administrative cost would be if they paid everyone in cash instead of shares and cash, so AFAIK the only way to estimate break even is with a comparison to other oilers however rough. People say dilution has stopped, it really hasnt. What Im saying really, is Leo needs to hit his high end target in the presentation.

[nash81] 21/12/2017 14:23

news on SWP and also Gouldron could come as soon as early Jan. so only a couple more trading days left.

those sells will be buying back in here I believe.

wish I have more cash to top up here. our mcap not even 40m !

[northpole2] 21/12/2017 13:03

meep. The execs won't be receiving their shares until they've all completed one year's employment, that's not until mid next year as confirmed previously. CERP's cashflow positive position includes debt service which apparently includes principal and interest every month, included in their CF+ numbers, as well as all G&A and Spain. And Touchstone have many many times more ops people in Trinidad than CERP (around 6x I believe), their opex costs are higher as is their Calgary G&A (~$4.5m pa). CERP has significantly cut their London G&A in 2017 as per previous RNS'. Touchstone's costs are totally different from cerps..

[brasso3] 21/12/2017 12:52

I was mildly disappointed with the news although they achieved the end of year targets. I decided to sell up this morning and watch this from the side-lines for the next month or two. I feel TXP is a better short term play than CERP in Trinidad at a third of the market cap and three times the production. They are also embarking on an extensive drilling programme next month.

LK will deliver the goods at CERP but it looks like the existing challenges from the Ritson era are taking longer to overcome. I feel the big movements in CERP are now 6 - 12 months away.

[fsawatcher] 21/12/2017 12:52

triple production and triple share price

but it aint gonna hapen unless usain bolt sign the swp deal

why he delayin ? wot the problem

how much it costin ??

nacho's dont taste nice when costin $60k per month

sort the honchos out prontos

[davidspringbank] 21/12/2017 12:50

red army

Non return valves are always suspect in my 35 years drilling experience, they have to be regularly maintained to stay in top condition..

[jcgswims] 21/12/2017 12:46

End of year update presentation

[red army] 21/12/2017 12:25

Have just watched the video and have to say little disappointed with the failure of the non return valve and the fact that it was not picked up through instrumentation. As an engineer this is fairly basic stuff unless I am missing something.
Chairman is credible but the site engineering looks to be very basic whereas a monitoring system would have detected the failure.

[meep] 21/12/2017 12:20

Northpole, you have answered your own question : "Who is printing shares?"

when you said:

"the exec directors take 50% of their pay in shares, aligning themselves with the investors and the future. Even the M&A Director will take 50% in shares as per today's RNS!"

So Leo, the board, senior management are all getting new shares. Ritson is still there as an advisor. Collectively, this is a lot of dilution. Leo didn't come cheap. I think Leo at least is getting his salary at around 2p share price set when he joined, so gets far more shares than if the calculation was at current share price.

Debt interest was also diluting us of course. Although we can pay that from our cash next year.

But you say Cerp is close to break even? Our operating costs are low, but there's other costs. Break even is where all costs are covered except debt and capex. So Touchstones debts and capex spend are irrelevant to their break even level.

Touchstone cant break even at 1500 bopd and has similar costs to CERP. That's why I say realistically we need production at triple or 4x current levels.

[12bn] 21/12/2017 12:02

Still no-one has asked on jcgswims rampers only thread,or answered here, how 70 new wells with an extra 20-60 bopd from each equates to 561 bopd overall! (70 x 20 = 1400,70 x 60 = 4200)!

[12bn] 21/12/2017 11:59

Someone is selling in 100k lumps today,I wonder who that is? //////11:55:39 5.5500 100,000 O 5.5500 5.7000 Sell 6,648,132 7,284,048
11:47:48 5.6950 42,800 O 5.5500 5.7000 Buy 6,648,132 7,184,048
11:45:10 5.7340 2,000 O 5.5500 5.7500 Buy 6,605,332 7,184,048
11:44:50 5.7340 4,229 O 5.5500 5.7500 Buy 6,603,332 7,184,048
11:43:26 5.6500 100,000 O 5.6500 5.7500 Sell 6,599,103 7,184,048
11:36:04 5.6550 100,000 O 5.6500 5.8000 Sell 6,599,103 7,084,048
11:34:14

[12bn] 21/12/2017 11:51

Northpole2,do you really not understand that CERP are not cash flow positive if you include loans and salaries?////////In January 2018, the Company will be generating more cash than it is spending on day to day activities /////// They will still be running at an overall loss imo.

[12bn] 21/12/2017 11:48

Wow look at those 100k sells,they have been going on all morning,Lind selling 4.5p shares perhaps?/////////11:45:10 5.7340 2,000 O 5.5500 5.7500 Buy 6,605,332 7,184,048
11:44:50 5.7340 4,229 O 5.5500 5.7500 Buy 6,603,332 7,184,048
11:43:26 5.6500 100,000 O 5.6500 5.7500 Sell 6,599,103 7,184,048
11:36:04 5.6550 100,000 O 5.6500 5.8000 Sell 6,599,103 7,084,048
11:34:14 5.7700 60,345 O 5.6500 5.8000 Buy 6,599,103 6,984,048
1

[northpole2] 21/12/2017 11:48

Why are you so down on a company which has made such great strides and says they are fully funded for 2018? Oh and Lind are being repaid in cash every month apart from Sep. Wrong on that one too. Salaries and loan repayments ARE included in the cashflow positive numbers... and the share price isn't lower than 2p which is what you were predicting a few months ago.

But you are entitled to your opinion which seems to be different from Schroders. One of the top institutions in London presumably know what they like and believe the story and investment potential even if you don't.

[northpole2] 21/12/2017 11:38

meep. Who is printing shares? CERP says it is cashflow positive and fully funded for 2018... so they won't be printing shares anytime soon. Touchstone have a CAD$15m debt to repay and a timeclock ticking to do that. Trinity also still has big liabilities, they haven't gone away. CERP has $1.3m debt and forecasts production growth in 2018 to near where Touchstone are now.

The G&A costs at CERP are not a problem, they have been significantly cut costs in London apparently and the exec directors take 50% of their pay in shares, aligning themselves with the investors and the future. Even the M&A Director will take 50% in shares as per today's RNS! That sounds like confidence in the future to me.

And cashfow positive position suggest break-even is on the cards too.

The share price is 3x what it was when LK joined, company is fully funded in 2018 (with Schroders on the share register now), very low debt and production growing. Sounds pretty damn good to me!

[12bn] 21/12/2017 11:36

Still no-one has asked on jcgswims rampers only thread how 70 new wells with an extra 20-60 bopd from each equates to 561 bopd overall! (70 x 20 = 1400,70 x 60 = 4200)!

[holly day] 21/12/2017 11:22

Well said jcg @ 11:16

as Malcy says, "looking forward to watching Leo and his team next year"

That's it. It's now a game of counter arguments between 'Next year' v 'next week' brigade! Good luck all LTH's.

[jcgswims] 21/12/2017 11:18

Malcys blog



Columbus Energy Resources
A year end update from CERP this morning and another video from the Chairman, Leo Koot, after yesterday’s from SDX it must be catching but again is very well worth watching. (

The update is very positive, year end targets of 550 b/d have been hit and could have been better but good progress nevertheless. Cash flow is positive and another target of being cash flow positive and fully funded for 2018 has also been achieved. I am looking forward to watching Leo and his team next year, he has imaginative plans in Trinidad and beyond.

[jcgswims] 21/12/2017 11:16

Not interested in the doomsters who are suddenly experts on CERP and all the "I told you so" posters who never post but now are so knowledgeable and comparing CERP with LGO. Leo delivered what he said he would. And I have do doubt he will deliver his targets again in 2018 and beyond.

[holly day] 21/12/2017 11:10

WhiskeyInTheJar21 Dec '17 - 10:53 - 2734 of 2735

I could re-write whole of your post replacing Trinity with CERP and the scenario is still the SAME, except the off shore and involvement of big guns. However, Leo has already mentioned the big boys re what lies beneath in SWP.

With CERP there is 70% increase in production in a very short time.
The fact that they only achieved 550 odd very recently, and still CF+ suggests even below 500 we will have been CF+.... aided by cost cutting + price of oil.

[ccr1958] 21/12/2017 10:57

The sell on news brigade in charge today