Columbus Energy Resources Share Discussion Threads

[12bn] 10/1/2018 15:58

This will all end in tears when it becomes obvious that the high production targets are unrealistic. BEWARE.

[kazz] 10/1/2018 15:49

Nice post TG.
A lot of valid points.
Regards.....Kazz

[holly day] 10/1/2018 15:40

Thanks TG and I fully agree with your post. Here's hoping there is something meaty to report before the quarterly update.

[the guardian] 10/1/2018 15:15

holly, there was no disagreement from either side. We just traded opinions and he accepted that there were a couple of points to take back. Sometimes, it's not what you say but how you word it and it's not always easy to find the right words. I think that's why the board prefer videos and photographs.

Words written down in black and white can be misleading. To be honest, I find that on bulletin boards. It's easy to make an innocent comment and have people come down on you like a tonne of bricks because they misinterpreted what you meant.

My aim is to get rid of the traders because as offerman has just said, imagine where the share price would be if the traders became investors. In my view, they make money at the expense of ordinary investors but some would argue with that.

By the way, there is a lot of difference between creaming off a little profit when the price goes up to being part of a consortium that purposely tries to control the price.

[garnhiem80] 10/1/2018 14:59

Ross, if it was a simple “sweetenerR21; I’m pretty sure those shares wouldn’t have been put in escrow for a minimum of six months, with a notification of share price issue.

Sure these shares will hold value at some stage, once out of escrow (voting rights applied and tradable) they will hold the value of the current share price at the time and a total value.

The loan requires capital (in lenders name) as security.. if in the event of default the shares would be released at the prevailing share price and more shares could be issued to cover the debt (if required).

I base my suggested theory that the shares could be returned once the loan is cleared, though the position that the company is in a strong financial position to meet its financial obligations and the shares in escrow for a minimum of six months would not be required.

CERP can’t control the oil price, it can control operation costs and oil output.

[garnhiem80] 10/1/2018 14:58

Ross, if it was a simple “sweetenerR21; I’m pretty sure those shares wouldn’t have been put in escrow for a minimum of six months, with a notification of share price issue.

Sure these shares will hold value at some stage, once out of escrow (voting rights applied and tradable) they will hold the value of the current share price at the time and a total value.

The loan requires capital (in lenders name) as security.. if in the event of default the shares would be released at the prevailing share price and more shares could be issued to cover the debt (if required).

I base my suggested theory that the shares could be returned once the loan is cleared, though the position that the company is in a strong financial position to meet its financial obligations and the shares in escrow for a minimum of six months would not be required.

CERP can’t control the oil price, it can control operation costs and oil output.

[holly day] 10/1/2018 14:41

Always amuses me to see MM's trying to be competitive, undercutting the others by 0.0001 for the sale of stock!

[arrynillson] 10/1/2018 14:40

12bn - you would have to be incredibly stupid to misinterpret that statement - why not read all of the rns - including the bit about pumping oil back down the wells because of the faulty non-return valve - CERP are not the only ones who would benefit from a non- return valve 12bn - but not yet you need to continue posting 12bn as I need a chump to hand me the ammo!!!

[holly day] 10/1/2018 14:20

TG, did you agree to disagree with Gordon or you accepted his view?

[holly day] 10/1/2018 14:18

Bodes pretty well to me with new arrivals buying in earlier at 5.86/89. Trading places....

[offerman] 10/1/2018 14:12

It's a shame they don't realise that if everyone just banded together held their shares like days of old this would rocket we would all make a wedge

[the guardian] 10/1/2018 14:11

Pity about the selling but one day the traders will get caught out. Just because we are sticking with 3 month production figures doesn't mean that there won't be news in between.

[12bn] 10/1/2018 14:10

Operational, Financial and Management Update

Columbus, the oil and gas producer and explorer focused on onshore Trinidad with the ambition to grow in South America, is pleased to provide an update on its operational and financial activities as well as announce the appointment of Tony Hawkins as Legal and Mergers & Acquisition ("M&A") Director and Troy Wilson as Goudron Field Manager.

Leo Koot, Executive Chairman of Columbus, commented:

"Since the Annual General Meeting in September, Columbus has continued to deliver at pace upon our wholescale change in strategy and has focussed on our target of increasing the Company's production in Trinidad to over 550 bopd and becoming cash flow positive by year-end 2017. It is my pleasure to announce that we have achieved and exceeded these targets, with the Company achieving production of 561 bopd within the past week /////// Let's not 'give a false impression' springs to mind LOL! This company stinks imo!

[kazz] 10/1/2018 12:14

Many thanks TG
Regards.... Kazz

[offerman] 10/1/2018 12:13

Thanks for your reply Holly.

[nexus7] 10/1/2018 12:12

Andrew Monk on the great oil exploration triangle

[holly day] 10/1/2018 12:07

TG, my earlier post to you was posted before you spoke with Gordon....

[holly day] 10/1/2018 12:02

offerman, I got out of LGO a very long time ago, well before the poo hit the fan. As I said in my previous post, there was far too much froth, hysteria, euphoria....choose your word. The traders drove the SP, aided and abetted by the likes of Lenigas himself. Sure production was on the rise and some of the share price rise was justified but the financials never looked good and we know about the declines in flowrates. At the end of the day, especially on AIM, the share price has no DIRECT relationship with the companies' performance, more so driven by sentiment, supply/demand....but I look for the underlying trend which DOES match the performance.

IMO, we spiked to near 8p without having any reported increase in production. So it was purely on the back of Leo's appointment, his plans, his experience, Schroders and general positive sentiment. I think as things stand, 6 to 7.5p is a realistic range, allowing for short term potential.

I also note what marvelman said about TRIN. We are on a different path with POTENTIAL.

EDIT: I should add, all IMHO. DYOR.

[offerman] 10/1/2018 11:56

Relentless selling now! :-/

[offerman] 10/1/2018 11:55

Hi Dr Jekyll Can completely feel your pain. ATB if you do Jump back on board. You might get a lower price in time then you may know I have no answer

[jcgswims] 10/1/2018 11:54

Offerman, that was a copy and paste. You have to register to view.

[dr jekyll] 10/1/2018 11:53

Some very interesting reading as I caught up with posts here. Like Marvelman I am not invested here yet. Lost a fair bit when I sold my LGO shares but like the look of the new co. So maybe might recoup my losses here one day. Regards to all and good luck.

[holly day] 10/1/2018 11:51

TG, well done for contacting the company and hope your chat with Gordon will have been worth it.

I note that revised Q&A on the website and I consider the new answer to be a fair one.

The bottom para in their comment imo is a fair one:

"As mentioned above, it is industry best practice to provide production updates on a quarterly or half-yearly basis, with other operational or price sensitive announcements being made without delay. The Company will adopt best practice in such matters and will not seek to obtain short-term gain through communications for the sake of it. "

Personally I don't want over-information on the production as was the case with Ritson. IMO production figures will be very volatile in the earlier phases of development and the likes of TW ripped in to the Ritson claimed data.... justified imo.

For example, if Leo had rns'd the production in say mid Oct indicating they are exceeding the forecast, followed by another rns to refer to the pump issue and loss of production, you can guess how the share price would've reacted.

I don't have an issue with quarterly update, but gotta keep our ears to the ground for OTHER info. For example if they see a sustainable amazing results of the 1st stage of WF...rns should follow or a BOLT/SWP/Spain announcement.