Columbus Energy Resources Share Discussion Threads

[edgein] 17/7/2017 12:58

TheNorth,

Been investing in oil and gas shares for around 25 years, also come from a scientific research background.

Regards,
Ed.

[12bn] 17/7/2017 09:35

Looks like the drift lower has started here,I can see the MMs dropping the bid to 2.4p today and possibly lower.

[the guardian] 17/7/2017 07:57

I will settle for the Environmental Permit for water injection and a small rise this week. We are probably a few weeks away from any really price moving news.

[carpadium] 15/7/2017 17:35

Thanks Mark, Ed for your replies, shall be wary of quoted P2 figures in future and to exactly what they refer to!

A good week, feels as though LK's intentions gaining more shareholder support week on week. Exciting prospects for those prepared to stay the course.

[the guardian] 15/7/2017 16:53

Pity that the share price is still low. I wouldn't be averse to some dilution in order to raise cash to buy some producing acreage but at the current price, that would be a lot of dilution.

[nexus7] 15/7/2017 16:20

Re substp link

Decision on Petrotrin next month

-----------------
Trinidad and Tobago to divest part of Petrotrin
PORT OF SPAIN, Jan. 12
01/12/2017
By Curtis Williams
OGJ Correspondent


The Trinidad and Tobago government said it will divest part of state-owned Petrotrin as it tries to increase crude production, increase efficiency, and return the company to profitability....

[thenorth] 14/7/2017 16:58

Ed you are very knowledgeable for a PI... are you ex petroleum by any chance!?? Impressed either way..

[edgein] 14/7/2017 13:48

Carp,

Oil in place and recoverable volumes are two different things. Currently there's around 1bn in all of the formations for the oil in place numbers. Current proven and probable reserves (2P) is 11.2mmbbls. Contingent recoverable amounts are 22mmbbls 2C and around 60mmbbls 3C, still a fairly small % of the oil in place but a transformative target for CERP. Then they'll drill these deeper plays that are more likely to be high pressure and likely to have a natural drive mechanism in place, that's why the targets are for 200mmbbls.

Regards,
Ed.

[nexus7] 14/7/2017 10:25

From PTMS Today 09:07
-------------------------------------

Funds

LK has gone on record twice. Once before Trinidad visit and more importantly for me in the recent interview AFTER his visit to the assests and stated no more dilution without growth. I believe the current CEO who as put his reputation on the line.
There is a big difference in dilution of shareholder funds to keep going and using shareholders funds for growth.
I believe there will be no more dilution until we are cash positive.
I also believe that he stated that he was new to AIM. If this platform does not reflect the results of a growing business then I believe LK will have no problem in re listing on another more suitable platform.
He comes across to me as a very straightforward individual who knows what is achievable and what he expects. He is certainly nobodys fool.

[seaclipper] 14/7/2017 09:39

IMOP - next news will be that water flood has commenced, but from then on news will be in very short supply and we could well see the stock drift lower until such time as production lifts we may here further, and yes 12bn we might get a RN re finances and funding ??

[12bn] 14/7/2017 08:49

I see that the best the rampers can do now is say 'look at the reserves' but the reserves haven't changed,they are the same as when NR was in charge and the same when the share price fell from over 6p to 0.12p! Oh and of course a few silly high valuations for the company based on these reserves,which some holders lap up enthusiastically! The truth is CERP/LGO is now in a period of 'no news drift',imo. The next RNS could be about a discounted placing imo.

[mark of the rushes] 13/7/2017 22:14

Carp:

reserves are "those quantities of petroleum claimed to be commercially recoverable by application of development projects to known accumulations under defined conditions."

resources..There are two categories of resources: contingent and prospective. are quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations, but the projects are not yet considered mature enough for commercial development due to one or more contingencies. In other words, there's a good idea of how much oil and gas is in the reservoir, but issues such as political and social events or even a lack of market prevent production.

[carpadium] 13/7/2017 20:26

No, really?

And you think that's the answer!

[ride daice] 13/7/2017 20:02

Under New Management.

[carpadium] 13/7/2017 19:24

Just looked up GY-664, the first well scheduled for a smart pumping system using down hole sensors .... it flowed naturally at 326bopd then stabilised at 240bopd (37API).

The footnote to the RNS read:
GY-664 is the first well of an approved 30 well development programme on the Company's 100% Goudron Field in Trinidad, which has independently verified proven and probable ("2P") original oil in place of 126 million barrels ("mmbbls") of which only approximately 4 mmbbls have been recovered to date. In place 2P oil resources assigned by Challenge Energy in their 2012 independent report totalled 72 mmbbls in the Goudron Sands and a further 54 mmbbls in the Lower Cruse.

Why then are CERP only claiming 2P reserves of 11.8mmbbls? Anyone please.

[12bn] 13/7/2017 18:37

seaclipper,I agree that Cedros probably does have a deep reservoir of oil but it is 12000 ft down and costings to drill that deep were $15m-$20m. Those costings were several years ago and I wouldn't be surprised if they are less now but even if they were as low as $12m, CERP/LGO are unlikely to be in a position to contribute half on a JV. If they raised say $6m and had a JV partner then I would consider CERP drilling the Cedros Peninsular as a possible game changer here but it would still be a very risky gamble. Like I said drilling the Cedros to 12000 ft was only tried the once and the company lost its drill at 11,000 ft. It would be a big gamble but it is probably CERPs only chance to ever make it big time. Koots seems to plan to penny pinch CERP to profitability though and I personally think this will fail and Koots will have to do an NR and dilute existing shareholders massively. We shall see.

[the guardian] 13/7/2017 12:29

Pity yesterday's upward momentum has gone. :-(

[seaclipper] 13/7/2017 09:26

12bn -- you raise some good points m8, perhaps next year with a little cash in the bank even though it would nothing like the cost of a Cedros drill, Koots may find a way to drill it or in another place as he seems confident that there is a deep reservoir pushing up the light crude, he does seem quite determined to drill deep.

[12bn] 13/7/2017 07:48

As for Cedros,it will not get drilled imo but on the off chance that Koots gets a JV then LGOs/CERPS contribution will need a truly massive discounted dilution to raise $7m or $8m and then it is a pure gamble. Only one company ever risked drilling Cedros and they lost the drill bit at 11000 ft and gave up with massive losses. Is Koots likely to try and raise finance for this gamble,not likely imo and like I said,if he does then the begging bowl will be out and dilution will destroy the share price imo. I am expecting a discounted placing here any way,as NR never managed to run LGO for long without one. Time will tell.

[offerman] 12/7/2017 17:35

Rid, so you're Scottish then..... :-)