Columbus Energy Resources Share Discussion Threads

[holly day] 20/3/2018 15:50

"kicking some of the financial burden down the road can’t hurt"... Absolutely Rossannan. Kudos to the team. Those so called 'burdens' may turn out to be a drop in the ocean if things go to plan!

[holly day] 20/3/2018 15:43

I must also mention that I was delighted to see that there is no additional shares being issued to any party associated with SWP, unlike Ritson, who'd have diluted us to the hilt to conclude that arrangement. Great when you have an experienced management who got us CF+ and 'GROWING'!

[kazz] 20/3/2018 15:26

Nice appraisal, thanks holly.
Regards.....Kazz

[12bn] 20/3/2018 15:22

Production news soon,get those 'tin hats' out holders.

[holly day] 20/3/2018 15:11

Having digested the contents of yesterday's rns, I am satisfied with the details provided and all looks very positive to me. Based on the brief record of this management, everything seems on track. Also, basing the timelines on LK's mantra of understate/overachieve, I feel confident we will be ahead on our projected program of work.

Whilst the BOLT deal savings have been highlighted, there are additional long term costs included in the agreement which I am also happy with as they are aligned with production targets.

The key points for me are that any time after end of month Bonasse rework will commence and add to an already 'GROWING' Goudron production base. I note the term GROWING been mentioned several times, i.e., not stagnating, nor depleting. Thus allows of funding from existing revenues + pot available from the original placing (inc Schroders participation) to be utilised.

Finally, hardly surprising that the broker maintains the price target as nothing extraordinary (revenue quantum leap wise) is likely to occur this calendar year.

Pleased that the team has been busy with, what would have been very time consuming, conclusion to the BOLT agreement. This in itself sets us up nicely to attack SWP next year....may even be brought forward depending on resources/manpower and logistics.

All eyes on the quarterly update for now and I expect the next quarter (June) will provide a progress on Bonesse. I now expect a rise/spike leading up to and thru the month end update. personally can't see any fireworks until the year end when the action plans should be firmly in place for swp.

Good luck all LTH. 3 days to go for LIND to declare their intention with the escrowed tranche.

[edgein] 20/3/2018 14:01

Arry,

No surprises there, he's an odd one that Roseann.

Roseann, was it not you, coincidence that you think it was you, maybe, maybe not? Tee hee. At least you try a little. Speaking of ramping, I'm surprised you're not tipping some duff on here like you normally do.

Regards,
Ed.

[arrynillson] 20/3/2018 10:28

Edgee - for the avoidance of doubt it was the dark disseminater of duff info 12bn who claimed BOLT wasn't needed - clearly for him it wasn't but he says he has no intention of owning CERP and for some reason he has yet to explain wants to troll this board!

[the guardian] 20/3/2018 10:14

He/she will be back here soon. It's such a sad life when somebody spends all day posting about shares they don't even own. As you say arry, dross is not very welcome on the LSE board either.

[edgein] 20/3/2018 09:15

Carp,

Agreed fella, a deepened well may do more than that alone. Some of the Goudron wells did 300-1000bopd again it'll be deepening an exisiting well too rather than drilling one from scratch. Keeping the operations low cost and well within budget. LK likes to keep things low key, hopefully Bonasse will be a nice little earner, LK and SA have a habit so far of turning 10bopd wells into 60bopd wells. So Bonasse and Goudron could keep things moving along nicely until they spud that 400mmbbls Gorilla for the Herrera.

Regards,
Ed.

[carpadium] 20/3/2018 09:08

Ed, lo/hi figures for Bonasse production charted at approx 30/80 barrels eoy.
Suspect 10 rejuvenated wells going to produce a darn sight more than budgeted!

[edgein] 20/3/2018 08:58

I remember one of our resident de-rampers suggesting BOLT wasn't important to CERP! Couldn't be more wrong on that if they tried and yesterday's announcement spelled that out quite clearly. So great to see such a modest royalty payment setup on assets that could potentially transform CERP. Then most likely we'll get that move to SA too.

Regards,
Ed.

[edgein] 20/3/2018 08:53

TG,

Yes 10mmboe is a lot of oil for a tiny royalty payment. That's about 27,000boepd. If that 400mmbbl STOOIP target comes in with light oil in good quality reservoir then that alone could do 27,000bopd on full field development. We should be looking at 160-200mmbbls recoverable from a target that size. They've identified multiple targets:

"We have successfully renegotiated the BOLT transaction on materially improved terms for the Company, we have entered into a new lease arrangement with the leaseholder, Singh Estates, and, most importantly, we have obtained 100% operational control over a large area (approximately 8,700 acres) in the South West Peninsula including mapped multiple prospects of 20-400 million barrels in place, which we intend on exploring, in addition to reactivating and maximising production from the Bonasse oilfield which is currently producing at a very low level."

So SWP activity kicks off next Q with Bonasse reactivation and LK did mention in the past about potentially deepening one of these wells. Perhaps more if that one goes well. I get the feeling Q2 is going to be much more active than Q1 in terms of news flow, although a lot going on behind the scenes with Goudron etc.

"This is a very exciting time for the Company and all involved and provides a unique opportunity to potentially deliver transformational growth of our business to the benefit of our shareholders and Trinidad & Tobago."

Can't argue with that fella! Looking forward to see what you do with Bonasse and Goudron combined with the low spend high impact approach taken to date from the Co. SWP will be the transformational run when they drill those multiple 20-400mmbbls targets next year.

Regards,
Ed.

[arrynillson] 19/3/2018 18:13

Holly Day - I think the tourists got wind Rossannan was coming!

[nexus7] 19/3/2018 15:39

Reminder 1 year ago …

RNS Number : 9724D
LGO Energy PLC
03 May 2017

South West Peninsula, Trinidad
LGO, through its local subsidiary Leni Trinidad Limited ("LTL"), holds an interest in all onshore private petroleum leases covering in excess of 10,000 acres of the prospective, but underexplored, South West Peninsula of Trinidad. Included in the leases are several LTL 100% owned lease, as well as a 50% interest in the Icacos Field and associated leases, which produces oil from shallow reservoirs. In addition, LTL holds a 25% interest in Beach Oilfield Limited ("BOLT") which owns the shallow Bonasse Field and surrounding leases. LTL has an exclusive right to acquire the remaining shareholding in BOLT under a Sale and Purchase Agreement (the "SPA") announced 24 January 2017.
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, has been mutually waived by the parties.
Notwithstanding the decision to defer completion, LTL and BOLT have commenced a handover of operations. During the last week of April, LTL transported approximately 200 barrels of oil from Bonasse to the sales point at Point Fortin approximately 30 kilometres from the field and this will sold to Petrotrin in the next few days. LTL now expects to commence regular oil sales and to start to increase production rates by the recommissioning of existing wells and equipment at the field.
During the first quarter 2017 the Icacos Field produced 12 bopd net to LTL's 50% interest.
…
Neil Ritson, LGO's Chief Executive Officer, commented:
"Increasingly LGO is focusing on its South West Peninsula assets and is looking forward to completing the licensing process and an independent resources evaluation this year. The recommencement of oil operations at the Bonasse Field is very encouraging and adds to the growing momentum the Company has at the Goudron Field."
-------------------------------
Now we are on track

[holly day] 19/3/2018 15:37

Looks like largely unexplored by the beachcombers too!

[jcgswims] 19/3/2018 15:11

CERP Tweet

Columbus ERP‏ @Columbus_ERP · 50m50 minutes ago
#SouthWestPeninsula largely unexplored with regard to deep potential and is in close proximity to and geologically a part of the prolific East Venezuelan Basin #CERP

[jcgswims] 19/3/2018 15:09

Updated Q&A

In the RNS of 19th March 2018, the SWP is stated to potentially hold multiple prospects of 20-400 million barrels in place. Does mean up to 400 million in total or the prospects observed to date could hold anything from 20-400 million barrels?

Identified mapped prospects individually have a range of 20-400 million barrels. We have mapped multiple prospects to date in that range of potential oil in place volumes.

Was the Bonasse oilfield included in the Full Tensor Gravity ("FTG") gradiometry survey acquired by ARKeX Limited in 2015?

Yes. The Bonasse Oilfield was included in the FTG survey.

[arrynillson] 19/3/2018 14:20

12bn - seems like you've been peeking st my posts again - otherwise why would you assume they are addressed at you! Putting that aside I don't care if you respond or not as the ignorant unresearched bile you spew on here provides a mountain of material to endlessly poke fun at you which is presumably what you want - as you claim to have no financial interest in CERP and you don't post here to warn off new investors - as you don't like them either deeming them greedy! Has your response to me been prompted by my latest posts based on that highly successful Government Health Warning - it was a flash of inspiration on my part don't you think 12bn?

[12bn] 19/3/2018 13:33

Sorry arry I cannot respond to you as I really do have you filtered,and have done for months. Haven't you noticed that I reply to Northpole2 but never to you? You should have noticed by now but I expect your ego dominates your judgement. :)