Columbus Energy Resources Share Discussion Threads

[brasso3] 09/1/2018 18:51

Another reason for more frequent communication in line with the changes in market conditions.

If CERP are cashflow positive at $45/ barrel and 550 BOPD then above $60 WTI should be throwing off a lot of cash.

[nexus7] 09/1/2018 18:39

WTI $63.02 :-))

[holly day] 09/1/2018 16:04

Well, well. Low volume and few sells and we have a down day and the mood turns negative. Today, low volume and we rise?! Defies logic at times. But good to see a chunky buy earlier and echoes our confidence. Onwards and upwards hopefully. GL all.

[offerman] 09/1/2018 13:47

Yes I agree Holly , that's why I mentioned in my post perhaps those old figures were inflated. So not able to compare. And yes sentiment was very strong back then . So I do agree .Sentiment drives huge swings let alone facts figures. Let's see what 2018 brings.........

[holly day] 09/1/2018 13:19

marvelman, if it wasn't for Leo's team, I'd have kept my distance from this company. Leo seems determined (with proven track record)and also comes across as a real hands type of a guy. If you've been following this BB for a while you'd have read my concern about the tweet re the inspection at pump supplier. Instead of burying his head in the sand, Leo got on with fixing the issue with the pump(s) (as much as he was at pains to admit the loss of circa 60 bopd due to the legacy problems). He still managed to achieve his target. He has a definitive plan and I like his calculated approach. No nonsense, no hype. Yes, early days. Further, the early signs must have been good for Shroders to top-up.

Now the water flood plans excite me (SWP further down the line). At least with the WF, he should not encounter any legacy issues as it never got going under Ritson. As long as the stimulated wells keep us CF+, the next phase of his strategy is what I am here for. GL.

ps., He has already assembled a very professional team and I welcome the recent addition of a Legal Beagle.

[the guardian] 09/1/2018 13:07

No probs Holly. Everyone is entitled to present their thoughts in their own way. At the end of the day, we're all on the same side.

[brasso3] 09/1/2018 12:27

I can get a sell quote online for 200k at 5.04p at present. This will be moving up soon. :)

[marvelman] 09/1/2018 12:20

Holly day

Just can't reconcile the market cap of this company to make sense with the valuation of TRIN with six times the output. I accept that there is potential at Columbus and a very motivated and experienced management but that is just potential and not the here and now. Nevertheless, I am ready to invest (again) once I am pursuaded they are on the launch pad rather than the drawing board. There is certainly a long term strategy to be seen but, as I am sure you will agree, the markets these days can't see any further than todays intra day trading pattern.

[holly day] 09/1/2018 11:50

marvelman, why thank you!.

No advice intended, but if you are on sidelines, may be worth taking up a minor stake. You will be in good company with Shroders....and at almost the same price as their entry. GL.

[marvelman] 09/1/2018 11:35

Good posts holly day...feet on the ground and no axe to grind. Combine that with some insightful realism and altogether they make a refreshing read. Not a holder myself but this one is always worth keeping on the watchlist.Regards.

[holly day] 09/1/2018 11:26

20 mill Offerman! Lol! Only wish. I am afraid unlike some of the big hitters here, I am a mortal small fish. Been in the market game for over 20 years, good/bad. But, learnt very early on to invest only what I can afford to lose. Will never put my house or pension pot in to the market. My mini tops-up as the funds permit, are probably pocket money. Mind you when I read some of the losses some peeps are sitting on, my eyes not half water....makes me shudder. By the same token, when you guys make several grand per penny rise, I will envy you!

[holly day] 09/1/2018 11:21

offerman,

Sorry but that post at 07:39 appears too simplistic to me. As we know through hindsight, there was a lot of euphoria in those days, almost like the dotcom era. Ritson was happy RNS'ing every time a tap was turned on but went schtum when things (flow rates) began to decline or when sh!t hit the fan (brokem drill). The numbers and the confidence in the company's newsflow were being questioned, not helped by the price of oil nose diving. I think the general confidence in the oil industry took a big hit and investors became generally wary of dipping their toes in the market, especially in the minnows.

The company is going through a total rebuild and 6 months in Leo's tenure is far too early to be making those MCap comparisons. Another six months and some decent figures from the WF program, add to that our other avenues yet to be explored, we may be better equipped to draw meaningful comparisons.

Credit to Leo (a brave man) to take up the challenge in a company that was almost a goner to a point where there is now huge optimism. Hardly any wonder that the share price rose rapidly since his arrival... what has been achieved in a relatively short space of time is nothing short of a miracle. I think there will be many x-mas purple ties heading his way!

[offerman] 09/1/2018 11:12

Actually Holly I have something to ask, could you do me and others a favour please. Go and buy 20 million shares to give the share price a little bit of a kick up the backside then when News comes through lift even more :-)

[offerman] 09/1/2018 11:11

Morning HollyThere is no need to apologise whatsoever. I certainly didn't take your post as anything at all like patronising or anything or even about patience. Honestly no need to apologise no offence was taken at all I didn't even think about it to be honest. I just read your post and thought as always you do write some really good posts that was my only thoughts.I'm pretty sure TG will echo those thoughts but I will let him reply to you in person but pretty sure he is of a similar mindset didn't take any offence either

[holly day] 09/1/2018 11:04

TG + Offerman,

Apologies if my post yesterday (about patience for news)came across to be having a dig you guys. Far from it. A general comment. I fully sympathise with all that have lost or are down a bundle since the LGO days. Whilst I may be in profit because of my re-investment since Koot's arrival, I didn't mean to come across to be gloating or patronising. GL all and hope many of you will be a lot happier come X-mas 2018. I might even send Leo a purple tie to congratulate him!

[arrynillson] 09/1/2018 10:57

12bn - CERP are awash with cash and are making progress with production - try doing some research! Agree with you on Lind - they are unlikely to remain holders and I doubt many will disagree with me - tell us something interesting!

[brasso3] 09/1/2018 10:45

This has moved into an oversold area now so hopefully a steady move back up to 5.5p is on the cards.

[offerman] 09/1/2018 07:39

Morning TGVery true. But also remember thisBack then poo was approx 83$Let's say by some miracle we hit high end of year targets 1600bopd December 2018So only 400 short of old LGO targetSo current poo 62 wti20-1 dilution 6.9 p old equates to £1.39 new Let's allow discount for capex EtcAnd current poo to legacy pooSo even if we apply 30 % discount Then £1.39 MC 700ish million MCSo let's say 50p new money So 1p old money was o.1 p new conversion 20-10.10p old is now 2 p new 5p new equates to 0.3p old We reached 6.9p old So 0.9p old is about 15p new. So put 30% discount then imho for a cash flow positive producing company producing a quarter of the expected old lgo 2000 bopd Imho we are undervalued if we base on old share price unless that was all overvalued when we hit 6.9p

[the guardian] 09/1/2018 06:59

Morning guys
When you talk about the old LGO price, you have to remember that we all thought that we were heading for 2000bopd. Even so, we are relatively way underpriced.

Edit: And oil was over $100 per barrel

[offerman] 09/1/2018 06:01

Spot on KazzThat's the way I keepLooking at it too. Not even .5 old money and yet soMuch more going for us.TroubleIs traders like TG says

[offerman] 09/1/2018 05:59

Morning TGI think that's a great idea from Brasso.I would also like to see clear transparent updates from each and every well.So list all the wells even the ones that have not performed and they have shut in.But give detailed numbers on every well every couple of months OR as Brasso says every 100 bopd extra whichever is the sooner.PS my huge losses are from LOGPTangiers petroleum now 88eReflecScreenSome PCIOXUSMatra PVRLGOAnd here.Particularly PVR MatraLGO and here.