Columbus Energy Resources Share Discussion Threads

[12bn] 12/6/2018 11:17

Group loss of £5.02m but the market cap is £30.5m! Over-priced or what.

[holly day] 12/6/2018 11:16

Rossannan, imo, AIM has a habit of driving people away through boredom. The chart doesn't help. We probably have another month of silence ahead, although I expect an rns indicating total shares in issue...wow, can't wait.

Anyway, no more subdued talk from me before I get accused of de-ramping!...will sit on my hands for now.

[12bn] 12/6/2018 11:16

Key highlights

-- Sales revenues of GBP4.79 million achieved in 2017, an increase of 5.5% on the GBP4.54 million in 2016 and an increase of 24.2% in Trinidad (when the loss of revenues from Spain in 2017 are taken into account)

-- Gross profit for period was a profit of GBP0.08 million (2016: loss of GBP0.15 million)
-- Company became cashflow positive from operations in Q4 2017 with production peaking at 561 bopd during December 2017

-- Pre-tax Group loss for period of GBP5.02 million (2016: loss of GBP11.89 million), partially reflecting various legacy costs in 2017 which will not recur in 2018

[holly day] 12/6/2018 11:12

The way I see it offerman, the 'fully funded for 2018' program is just re-works. Now that several directors and staff are being paid full in cash, we still owe some to LIND, headcount gone up significantly, etc.. unless production grows markedly in next 6 months and the POO remains favourable, they'll be eating in to the kitty. The bigger deal imo will rely on JV or accretive funding. Since a lot is being said about 2019, imo, we're not going any where in a hurry. They need to bring forward 2019 program (finacially unlikely)or get the 'bigger' deal wrapped up in the next 1/4...then perhaps we can salivate. All IMHO, NAI. GL.

[offerman] 12/6/2018 10:55

Hi Holly I have to agree with that post with regard to nothing really new there. I'm not sure about 4p floor, I am hoping so , don't get me wrong as that would be absolutely bloody brilliant for me as funds due promised with one week. And a top up near the 4p level would've been absolutely unimaginable for me and also a bit of a saver as I do remember one point when I was supposed to get funds much much earlier many months ago and I was tempted to top up at 5.6p do blessing in disguise . Even buying 5p I had considered really good as the open offer price. One stage I did mention would be good to buy around 4.7p level and here we are. Maybe Holly just maybe your 4p could you come to fruition. Bad for all the shares I already own and bought high levels but not bad because I'm not selling those on long-term holder good news for anyone who wants to top up like myself

[holly day] 12/6/2018 10:22

Sorry, but at a quick glance, nothing special, nothing exciting (apart from what we already know), nothing concrete for 2018, all eyes on 2019. Still mentions a deal in 2018, the 'potential' deal he pre-empted at the the conference is now 'shortly'. Getting a little cautious with his predictions too.

Not surprised with the share price action.

Offerman, 4p next floor...alas for LTH's.

Nothing there that encourages me to add short term. Not expecting startling number in the quarterly update.

That's my upbeat take!

GL all.

[carpadium] 12/6/2018 09:26

Following his departure as Chief Executive Officer on 10 May 2017, Mr Ritson was retained as a Senior Advisor to the Board until 9 May 2018 but, since that date, no longer has any contractual or advisory relationship with the Company.

Nice to know!

[offerman] 12/6/2018 09:20

AGM July 13th, will quarterly update still happen separate from that at start of July or willthat be amalgamated in to the AGM?

[the guardian] 12/6/2018 08:20

Thanks Carpadium.

On second thoughts, I've checked out the Dec 17 RNS.

Our forecast production profiles for the Goudron field in 2018, including low and high case production scenarios, are included in a presentation entitled "End of year update (December 2017)" on the Company's website. The low case profile forecasts production growth similar to that achieved in 2H 2017 (around 60%-70%%) and the high case targets are significantly greater but, I believe, are potentially achievable.

I will now ask the board to explain why there is such a difference.

Edit: Question asked via website

[carpadium] 12/6/2018 08:16

TG, Goudron field only.

[the guardian] 12/6/2018 08:08

End of year production expected to be in excess of 800 bopd.

Dec 17 report showed lower case of approx 920 bopd and upper case of 1350bopd.

Need to explain the difference.

[edgar222] 12/6/2018 07:58

Thanks jcg just found it and our posts crossed!

[edgar222] 12/6/2018 07:57

Offerman Think ur right. More on waterflood in the tweeted presentation.Could not find it at all in the RNS

[jcgswims] 12/6/2018 07:56

Edgar222, page 20 from the report has the progress on waterflooding.

[offerman] 12/6/2018 07:56

Agree EdBut these were results for before not present and WF takes time so I would expect a more concussive update soon with the early July quarterly updates. This will contain last quarter but also pilot WF update to date. Saying that thoughI still don't think they will have full pilot results yet as can take 6 months to a year.

[jcgswims] 12/6/2018 07:55

Very comprehensive report/presentation from the above link including Q&A from Leo, Gordon, Stewart and Tony.

[edgar222] 12/6/2018 07:51

If the water flood has been a failure I wish they would just say so.