Columbus Energy Resources Share Discussion Threads

[h van der h] 20/6/2018 19:55

TG. 5th May rns refers to group production? Production operations were maintained uninterrupted throughout 2016 at the Ayoluengo Field in northern Spain.... in the region of 100 bopd I recall. And don’t forget to add in the small amount from Icacos. The increase on reported Goudron only was due to the last ditch efforts to regain what was lost from Spain by those now known uneconomical new shallow wells I think.

[offerman] 20/6/2018 19:53

Totally agree Makes complete sense and I agree that we have heard the same over and over again without actually time period increases apart from before but that seems like ages ago now so what about the last six months??? Doesn't seem much of an increase really . Same old thing about so doubling . So in another 6 months I wonder if they will keep going on how it's doubled as there has to come a time when that won't suffice any more .

[keiwi] 20/6/2018 19:26

...Obviously the market is not impressed by current performance...hence the dropping share price ...we saw better under the old management. Where is it going to stop?... back to 2p looks a possibility. Touched 7 and 8p last year??? WTF???

[the guardian] 20/6/2018 19:14

offerman, It's just that we tend to hear the same words over and over again and yet I can't see how the board can justify that statement - especially when production isn't increasing. I would be much happier if someone could convince me that I am wrong.

[offerman] 20/6/2018 19:00

Absolutely bang on TG And as I also mentioned before I'd love to see all the results from all the wells on a quarterly basis for a more accurate picture .

[h van der h] 20/6/2018 16:57

An extract from MEEI current fiscal measures 2010-2014 (I don’t believe much has changed) “An Investment Tax Credit was introduced with effect from 1.1.2011, under the Supplemental Petroleum Tax regime. This incentive allows companies to claim 20% of the expenditure on development activity for mature fields and enhanced oil recovery projects as a credit against their Supplemental Petroleum Tax Liability. The credit is however only available for use in the financial year in which the expense is incurred and any un-used tax credits cannot be carried forward or backward to another financial year. To ensure continuity of these activities and to increase new investments, Finance Act No.4, 2014 will now allow the un-used tax credits to be carried forward for one year.”

hxxp://www.energy.gov.tt/for-investors/fiscal-regime/petroleum-fiscal-incentives-2014/

[carpadium] 20/6/2018 16:55

We are very interested in picking up additional IPSCs .... ....must be running the rule over Catshill/Moruga East ....Oh to have access to TH's laptop!

[nexus7] 20/6/2018 16:15

From Garnhiem. Today 14:25
-------------------------------------

: RE:UPDATE

Tony Hawkins,

“What is going to be your main
focus during 2018/2019?
In 2018, my main focus will be implementing the BOLT – South West Peninsula transaction and assessing mergers and acquisition opportunities. There is incredible exploration potential in the South West Peninsula. We need to explore that potential in a safe, cost-efficient manner. On the M&A front, we will look for a transaction that is value creative and diversifies some of our risk.
Can you give us some colour
on the types of deals you are
looking at?
The typical deal Columbus will look at involves a base level of production that can be significantly increased through a combination of improved technology and well intervention techniques, capital spend and operational rigour. Ideally, there will also be exploration, appraisal or development potential in the assets.”

“Looking ahead, in order to achieve transformational growth (stage 4), the Company has begun a screening exercise for M&A opportunities in Trinidad and Tobago and elsewhere in South America. This process is in its early stages and the Company is mindful of ensuring that any transaction is complementary to its existing operations and skill set consistent with our strategy road map.
The Company wishes to complete at least one other material M&A deal in 2018”

[arrynillson] 20/6/2018 16:11

12bn - I can understand why you are posting less now over at KOD - it’s pretty dire there - what’s it feel like to have the opposite of the Midas touch 12bn - still I’m glad you seem to have got the hang of this Placing business- doing it while the share price is high - what’s your excuse for KOD raising at .13p - when the share price has been more than treble that over the year - your co- shareholders didn’t seem happy 12bn - perhaps they understand finance 12bn!

[carpadium] 20/6/2018 15:58

Seem to remember from LGO days that investment allowances exist that can reduce SPT payments. The example given was that 20% of qualifying capital investment can be used to offset SPT where due. Should still apply as sfa changes have been made by the Trinidadian Energy Ministry.

[12bn] 20/6/2018 15:51

12bn,as LK isn't doing much for several months do you think PIs will lose interest here? Undoubtedly 12bn,the share price is at a massive premium to its value and that will worry the more astute. 12bn, do you think another placing will arrive here this year? Yes I do 12bn,the share price does not reflect a company who is losing £5m every 6 months,so while the share price is high I think more cash will be raised. It will be wrapped up to sound like money raised for acquisitions,drilling,etc but reality is that some of it will be used for running costs,imo. 12bn,we hear very little from LK and what we do hear usually down plays previous forecasts. I agree 12bn,I think LK ramped LGO/Cerp to get the share price up and put himself in a good position to raise funds. That sounds very cynical 12bn but also very likely. Nice to have a sensible conversation here today,it is a rarity on Cerp threads,thanks. :)

[12bn] 20/6/2018 15:39

Time for a song,'There may be trouble ahead........' 4.70p bid looking ready to go imo.

[offerman] 20/6/2018 15:05

Agree with your points there too TG.

[arrynillson] 20/6/2018 14:26

12bn - you are shooting yourself in the foot - people buy in expectation - otherwise KOD wouldn’t even have got to the stage it’s currently at - try not to let your frustrations over KOD cloud your judgement 12bn!

[12bn] 20/6/2018 14:04

Pre-tax Group loss for the period of £5.02m,market cap £30m,silly.

[12bn] 20/6/2018 14:02

Finance Review

Results for the Year

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

--

[12bn] 20/6/2018 14:01

12bn this is slipping to under 4.5p imo. Yes 12bn,there doesn't seem to be any reason to buy this at the moment and not many are,can you blame them? No 12bn,this share is priced at £30m but it loses money as can be seen in its latest results.

[arrynillson] 20/6/2018 13:53

12bn - whilst you’re watching paint drying over at KOD you might like to reflect on the desirability of consistency with your brush strokes - your ‘jam tomorrow ‘ comment must surely better suit KOD than CERP where there is proven, increasing, levels of production, in contrast to the possibility, at best, of KOD trying to get a bulk sample on a slow boat to China, even expectations for the sample size have had to be managed down, along with the share price - about 50% of your average?

All contributions here are valued - some more than others - you are the leader in the unknowingly comedic category!

[the guardian] 20/6/2018 13:41

I agree with your comments offerman:

Two points that disturb me:

1. He can't keep saying 3-5 years a year later.

2. 500-600 bopd from Goudron means that there has been no improvement in production this year.

I think that the hype that was created when the new BOD took over was very much overdone. There may be a lot going on in the background but the production and the share price have changed little during the last 6months.

Looking at the low and high production graphs, we appear to be behind on water injection and of course added production from the SWP.

No doubt it will come at some point but I would like to see less boasting and more growth.

[holly day] 20/6/2018 12:29

....they almost all seem off-the-cuff comments and I find that unprofessional and frustrating...

No big deal whether $$ or ££
No big deal whether 500 or 600 bopd... 800 or 1400 y/e
No big deal 2-4 or 3-5 years
No big deal with the broker's rolling 26p target.
No big deal if 1 or 2 or 3 deals in the pipeline....the pipeline that seems bunged up!.

Everything is a 'rolling'.....rolling.....rolling.


I note he stopped using understate and over-achieve...

Conclusion: Keep them tucked away....come back next year. A case of newsflow v boredom.

[carpadium] 20/6/2018 12:00

They seem to yo-yo between GBP and USD. The original presentation detail stated GBP.

Thanks for that jcg, something worth reading on here at last. The road to success, however, looks increasingly pot-holed.

[jcgswims] 20/6/2018 11:49

I'm more inclined to believe the official AR than an interview were the interviewer may has presumed $ instead of £.

From LGO-fan

RE: Interview with Leo Today 11:36

"To be at odds with" and you agree??.

Guys read the article properly please, including our residing troll!! What is the point of LK communicating if you can't be bothered to read it properly?!!

1. He has not moved away at all from a material deal: read the article in full and read the AR. It is clearly stated as an intent (though every sound business man/investor will recognise that an M&A is always difficult to achieve but we have the right team in place to make it happen)

LK is talking about the two deals earlier announced:

"I expect to close two main deals in Q3 2018, one of which is the renegotiated Beach Oilfield Limited transaction.
In the other deal, we are taking over the remaining 50% of the Icacos fields from Primera/Touchstone. We have announced both deals and we are hoping to complete both in Q3 2018. With these deals done, we will have access to the entire South West Peninsula. The area sits right on top of the Eastern Venezuela Basin, 7 kilometres away from Venezuela"

IN ADDITION TO THAT is also interested in:

1. "We are very interested in picking up additional IPSCs, so we are in close contact with the government and Petrotrin to see if there are other fields similar to Goudron that we can use our technology on'

2. Secondly

"We also want to spread our wings beyond Trinidad. We are actively looking at Suriname and Colombia. We have operating knowledge and expertise on running land-based oil wells and stripper wells in a jungle-type environment. If you look at South America, especially Colombia and Suriname, it is all jungle and swamp with a lot of shallow wells. We are in conversations in Suriname and Colombia"

3. And I guess longer term, subject to some form of political stability emerging in Venezuela (one can only hope that one day this will happen):

"Our skills are very complementary to the subsurface environment in Venezuela, given the right political and economic environments. Eventually, we expect to be operating there as an independent to try and help that government do some efficient oilfield operations"

So I really don't get you guys sometimes. I do agree that patience will be required, though if they realise their short term ambition that would be fantastic:

"By the end of 2018, we expect to be anywhere between 800 bopd and 1,400 bopd, depending on how successful our projects are"