Columbus Energy Resources Share Discussion Threads

[chutes01] 16/8/2018 00:12

has koot left ?

[arrynillson] 15/8/2018 08:50

12bn - this share issuance was agreed many months ago and appeared in a rns - if you thought less than £50,000 worth of shares was of major significance that would have been the time to poo your pants 12bn!

You don't seem to keep up here so can I draw your attention to more share issuance soon for the Steeldrum acquisition - explained, with pictures 12bn, on the AGM media!

[nexus7] 15/8/2018 08:49

RNS Number : 7274X

Columbus Energy Resources PLC

14 August 2018

[12bn] 15/8/2018 07:08

More dilution,could this be because Cerp are still a big loss maker? Not looking good.

[12bn] 15/8/2018 07:07

RNS Number : 7274X

Columbus Energy Resources PLC

14 August 2018

14 August 2018

COLUMBUS ENERGY RESOURCES PLC

("Columbus", "CERP" or the "Company")

Issue of Equity

Total Voting Rights

Background

In the past year, the Company has entered into a number of agreements with contractors who provide services to the Company so that part of the relevant contractor's fee is paid in Company shares (the "Contractor Shares"). This has been done in accordance with the Company's ongoing cash management strategy and, more specifically, to align the interests of the Company with the contractors who are helping it achieve its objectives.

The relevant services up to 30 June 2018 have now been provided and therefore the Company has issued 1,079,986 new ordinary shares to those contractors (the "New Contractor Shares"), representing 0.166% of the 649,206,426 ordinary shares in issue prior to the issuance of the New Contractor Shares. The planned issuance of the New Contractor Shares was previously announced to the market in the Q1 Business, Operational and Financial Update RNS dated 9 April 2018.

The New Contractor Shares will rank pari passu in all respects with the Company's existing ordinary shares. Application has been made for the New Contractor Shares to be admitted to trading on AIM, ("Admission"), and it is expected that Admission will become effective and that dealings will commence on or around 20 August 2018.

Total Voting Rights

For the purposes of the Disclosure and Transparency Rules of the Financial Conduct Authority, the Board of Columbus hereby notifies the market of the following:

As at the date of this announcement, and after the issuance of the New Contractor Shares, the Company's issued share capital consists of 650,286,412 ordinary shares with a nominal value of 0.05p each, with voting rights ("Ordinary Shares"). The Company does not hold any Ordinary Shares in Treasury.

Therefore, the total number of Ordinary Shares in the Company with voting rights is 650,286,412. This figure may be used by Shareholders in the Company as denominator for the calculations by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Enquiries:

[nash81] 14/8/2018 21:18

how come we are sub 5p... was hoping this is higher than 6p by now

[nexus7] 13/8/2018 10:17

From Garnhiem. Sun 16:55
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RE: Pipelines

My understanding in CO2 has been very successful in Trinidad after secondary recovery projects such as waterflood or gas injection!

It’ll be down to what CERP can do with well optimisations, I believe average individual well production on TI is in the region of 6bopd, substantially below Goudron’s average individual well production.. there may still be a prospect of further water injection as a CO2 project is developed?

Leo has already stated that a full evaluation is to be undertaken, no doubt we are yet to hear more.

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From Garnhiem. Sun 23:35
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RE: Pipelines
Shallow Forest reservoir probably had the most EOR projects ranging from waterflood to steam floods and eventually trials of CO2 injection ( 1st in the world ) along with 16 Huff and puff projects!

The key to EOR is to implement it early while depletion levels are low, Low pressure injection rates increase sweep efficiency and improve recovery rates from ooip figures.

[nexus7] 12/8/2018 16:34

From Horseyhead Today 16:02
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RE: Pipelines

The Option for Predator to acquire FRAM (potentially from CERP ) under the Well Participation Agreement, subject to regulatory approvals, dated 17 November 2017 has been extended as a result of the amended Well Participation Agreement to 30 June 2019.

Predator shall fund the cost of acquiring and upgrading surface facilities for Pilot C02 EOR operations and the supply of a minimum of 5,400 metric tonnes of C02 to the C02 injector well;

Predator shall fund all costs associated with the initial phase of Pilot C02 EOR operations up to a maximum Consideration Cap of USD 800,000;

At this time they own nothing but will receive 50% revenue from the chosen wells for the pilot scheme after recovery of costs...depending on pilot results and various licensing renewals sale of TI could occur to them for no less than $4.2m... or it appears the well participation agreement could be extended to more areas thereby rendering a 50/50 partnership at no additional cost to us for the CO2injected areas.. all remaining unaffected wells would remain100% cerp(fram) ..... that’s how I understand it...

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From Horseyhead Today 16:12
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RE: Pipelines

Subject to a successful Pilot C02 EOR, the extension of the IPSC to 31 January 2022 and the Company's Pilot C02 EOR economics, Predator shall fund the cost of expanding C02 EOR operations up to a maximum Consideration Cap of USD 700,000;

Predator shall have an Exclusive Option for a minimum period of 6 months from 30 August 2018, and to be renewed each and every year thereafter at Predator's sole discretion, whereby Predator can increased the Consideration Cap to fund the cost of any form of EOR operations in Inniss-Trinity,

[nexus7] 09/8/2018 19:33

From MrMagoo31 Today 17:40
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Hopefully Year High by end of year

If you read the broker research note in line with CERP operations over last year, projected-this year and next year -
Here’s the results;
Revenues, 2017 4.8m, 2018 11m, 2019 54m
Net 2017 4m, 2019 29m

That will be the transformation and that is without any other acquisitions in the interim to end of 2019

Broker Target there end of next year is 25p ..... x6 of where we are now......
DYOR
GLA LTH

[nexus7] 09/8/2018 19:29

From MrMagoo31 Today 17:13
-------------------------------------
RE: 52 week low

Yes we know - we are all in the same boat - but until all the bullets are fired from the gun ; that is when it will reRate...
There is a whole host of change and new fields to come into the mix for CERP now and the transformational should then hit.... this is a good 2/3yr hold from here imo - it is NOT a trading share ..... read on -

[offerman] 09/8/2018 16:01

Thank you very much for the comprehensive and detailed reply.Touched on something that I never thought of with divis.The only divis I have ever been aware of is myself :-) and when I got given Woolwich Shares when i used to get about 70 to 80 quid every quarter. Of course if we can get those that would be brilliant and a nice little income on the side. This could become quite a large company with all that Leo speaks of.I think actually it could become 1-2n£ Company with everything that is being discussed. I think Leo probably mentioned 1/2 as one of his underpromise overdeliver maybe in his own head he was being Conservative with that.The other share you mentioned I never heard of that sounds amazing.I was once invested in sibir Energy at 26p bought out for over 5 pounds of course I wasn't in at that stage I was too stupid and got out much much earlier. I really plan on learning a lot more about all our acreage and individual sites as they are all on slides and when I get the time I really want to become more knowledgeable with it all as you are. I agree that production should reach 1000 By year end I like your points about perforating legacy wells to get the water out. Makes complete sense as the water will be of the right quality for reinjection and also The cost will be negligible when getting out extra barrels of oil to more than cover the capex of additional perforations. Will be interesting to see what happens should we be granted another crack at Spain too..... I think we are completely under the radar at the moment as a company but only a matter of time if SWP comes good then watch this space and if a deal potentially arrives before year end or first-quarter next year. I think Leo also mentioned he would look for other IPSC as well. And as you said direct export on other areas where it's 100%

[edgein] 09/8/2018 15:23

Offer,

Well the SWP is in the most prolific oil basin on the planet, the unfortunate thing is Vene is situated right ontop of it. Although it passes under T&T luckily for us. Well the dream scenario here would be LK uses his previous contacts and lines up some of his middle eastern contacts from the TAQA days (I'm not talking about any direct involvement by TAQA who are North Sea). But just some of his contacts and lines up financing mainly bonds, but they'll want some equity no doubt too, I know I would. Get the deal done in SA no matter how its funded. Whether its $10s m or $100m+ deal that will bring production and reserves. Colombia has lucrative economics for producers. Use the new production base to turn SWP into a pin cushion. Under the regular blocks like Bonasse, Icacos, not the IPSC's like Goudron. Any material discovery can then be developed and exported. Once 2P is high enough sold to one of the offshore majors.

Yes Goudron deep drilling is long term, SWP drilling under Bonasse is now relatively near term H1 19.

It could well be no M&A before year end, not risking being out though and then first SWP drill. Then potentially all hell breaks loose on that one. Keep the production base growing from the new fields rather than IPSC, focus will be dominantly workovers. Predator may add a few hundred bopd for us too. It depends on how far their £1m will stretch, but they'll likely raise more.

Key to the next 6 months will be getting the production up from 750bopd ish to 1,000bopd from completion of the Steeldrum, maybe get CM/Snowcap on and one deeper Bonasse. Then M&A and or SWP whichever comes first. 1,000bopd looks relatively nailed on just from keeping things as is with SD and those other couple of ops let alone much more drilling, he did hint at a deve well near Snowcap. Focus is moving towards Bonasse until they can get more water for Goudron, you could see them going back to perforate some more old wells just for water production, may seem strange but necessary.

Why did I buy CERP, well I like companies with small caps and large assets. Especially those with scale. LK was the main reason I came back in here again. I've a 2.2p average even after taking some in the 5p placing. I will likely add more before the year end and SWP drilling. I've lots already though, bought heavily even some sub 2p and my intention is to wait for divis. The first large discovery in the SWP will lead us there imo. So not going anywhere for years. I'll only sell if it goes very overbought, that's not likely to happen before M&A and SWP. My focus here is divis and an Oilexco style multibagger. Its the only T&T company with any hope of that.

Regards,
Ed.

[offerman] 09/8/2018 14:56

Totally agree with all of that Ed. If SWP comes in then that on its own with the amounts that are being spoken off would hit hundreds of millions£s I also personally think we will find some oil with the first drill and even if not in the amounts we are expecting or hoping for then there will be a heck of a lot of data that will be gleaned from that first drill. I can't remember which license but I do remember the slide where One of the newly acquired licenses had an unexplored section to it as well . So that could be interesting as it's already producing on its southern side. Unlike you I've been adding a lot of shares by my standards because I personally believe if we do hit a large commercial amount of oil then a big player will pay big money for a large chunk of that or by the whole field. And who knows maybe even buy out the whole company.......I wonder if that's why Schroders invested Is my personal opinion why they did for a complete buyout .And of course you are right about the deeper Herrera much further down the road after negotiations with Petrotrin. God only knows what lies beneath that but remember exactly what Leo and his excitement about it was in one of his first ever presentations. With regards to South America I'm not too sure what's gonna happen then obviously he stated he is interestedThen there is also Surinam and Venezuela if the political situation improves there. Ed, could I ask in your post you mentioned for the reasons that you invested or outcome . Can I ask what those on is it for SWP and acquisition or takeover What's your take on it that you think will end up happening? Thanks OM

[edgein] 09/8/2018 14:34

Offer,

Agreed, SWP very close to Bonasse looks like low hanging fruit, especially when you look at that dipping target quite close to the layers of Bonasse. A simple deepening of a well there could get at more untapped pay at low cost. Then after that deepen another well to the closest of these targets probably towards the $2m end of LK's $2-4m well cost. That'll not be a 200-400m target though the closest target looks smaller might be 40mmbbls+ though and maybe similar formation to TI, some sort of upper Herrera or hanging wall. Better pressure, better flow rates and likely much better sustainability. The really large deeper targets from that slide could be for a later date or if Predator buy TI. But there looks to be some interesting low hanging fruit around Bonasse.

Cory Moruga could be another interesting little proposition with that new development. But rather than lots of deve wells around that, more bang for buck just under Bonasse. Those smaller fields are good for paying the bills getting the production up a little bit, but its scale that most here are interested. That scale lies in deeper SWP and SA acquisition.

Goudron is gonna take time, they need more water, probably lots more water to have a good crack at getting at the 1.3bn bbls of STOOIP there. A deep well into Herrera below Goudron is likely at some point, perhaps years in the future and long discussions with Petrotrin. Their case will be strengthened somewhat after their first discovery in the SWP. Whether that'll be first well, second well, third well we'll find out in due course. Personally I think they'll hit that 1,000bopd target quite easily from the work planned until year end, but that doesn't even slightly factor into why I'm considering buying more.

Regards,
Ed.

[offerman] 09/8/2018 14:22

Most welcome Ed.Great times are ahead I believe for SWP let alone anything else. If we reach a 500£m MC with share price of 20-30p I'll be dead chuffed .However this could go ballistic if say we did discover say 200mbo with 20-30% rec in one of the 3 target zones on first drill. I mention 200 as in the middle of the 20-400 mbo mentioned. There are 14 different targets /locations to focus on as Leo mentioned. 20-400 possible in each of the 14 not combined unless I'mMistaken . We really are going in to orbit imho .He said " oil is everywhere" just got to analyse and decide with specialists on best targets drill spots using all the latest high tech readings mapped to date. Not ramping just reiterating what's already been said by Leo in media presentations/ interviews . Let's say if SWP hits 50 mbo 10 % rec 5 mbo in multiple zones and targets Still a lovely amount to have . Look at the maps we were shown and the traps and how far they stretched it certainly looks like a good amount sat there . Let's also not forget if SWP is successful and we also have a material acquisition then further down the road they could explore with permissions the feeder below Goudron that might not have the sand issues above but instead flow naturally excellent API with greater pressures. Also remember Leo saying that this was vast bigger than Goudron itself . Goudron let's not forget contains at least 800 MBO that was increased fair bit at the last CPR. With indications that could have been increased further. We know the problems experienced in getting a lot out with pressure but they are working on it. See what WF brings once they can maximise the amount of water that they want to pump in 3000 bowpd currently at about 1200. So maybe 1 billion or more say below Goudron ? Maybe 10 to 20% recoverable not tight oil? Deeper with excellent API and flow rates..............

[edgein] 09/8/2018 14:07

Hi Offer,

Cheers for the clarification, yeah thought it was an additional M&A before y/e.

Regards,
Ed.

[offerman] 09/8/2018 13:26

Hi EdIt was another deal not steel drum I remember leo saying this . So expect another deal much larger before Y.E

[edgein] 09/8/2018 12:46

Carp,

I'm gonna just keep chipping away at them in these quiet periods as Q1 next year won't be so quiet. As LK said he'd like to do a $100m+ deal, that would buy him a whole cluster of producing fields in Colombia or a material stake in a massive field in Suriname for example. The timing of that one isn't so certain, (I guess its the gold deal). They did hint at a deal before y/e, was that Steeldrum or another? :)

Regards,
Ed.

[nexus7] 07/8/2018 18:37

Oil Prices Inch Higher As Sanctions On Iran Kick In

Brent crude and West Texas Intermediate both started the day today with only moderate gains despite the return of U.S. sanctions against Iran that will take effect at 12:01 a.m. Eastern Time today.

At the time of writing, Brent crude was trading at US$73.81 a barrel, with WTI at US$69.05, both up by less than a percentage point from yesterday’s close. But this could change later in the day as the flow of forecasts of reduced supply intensifies.

French Societe Generale has already estimated that the sanctions will remove 1 million bpd of Iranian oil from global markets, and yesterday a Goldman Sachs analyst told Bloomberg that the bank expected a “very, very tight oil market”...



-----------------
WTI: $69.22

[carpadium] 07/8/2018 17:54

offer, selling relentless and has been for some time. Really don't think it's one big seller, rather that it's a multitude of PI's with the wrong investment mindset for a company that has explained its growth vs time strategy all too clearly from the word go. If CERP's path has veered slightly along the way from their proposed route then it's only to be expected, I see it as they've adapted to suit findings along the way.

Far far too many short term dabblers in this game that invariably run out of patience and opt for the next fashionable quick gain. Their loss long term in this share, they should have reminded themselves that directors and others of important note have a critical financial interest in the success of the company linked to that of investors and, not least, LK's driving and impatient ambition for significant M&A. That plus his pride and reputation for success, he comes across very forcibly as one who succeeds and therefore a respected leader in which to entrust investment. Still adding and welcome the bargain price!

[brasso3] 07/8/2018 17:26

Not long before CERP and TXP will have the same market cap.

I am not in CERP at present but will buy in if they hit their end of year production targets.

[offerman] 07/8/2018 15:29

I know I've mentioned this a few times nowBut I think the reason for the share price being low is down to the large consistent sellerI've seen it before on other shares when the seller has cleared the Mms then allow the Sp to rise which in turn attract more buyers and then so off we goSeems like it will be a little while longer until the seller has bailed all most of the shares. Good times are ahead I reckon

[hpotter] 07/8/2018 09:41

One of the benefits of the Steeldrum deal will be the availability of much more Produced Water that can be re-injected at Goudron, increasing pressure/flow from selected wells. Best case: some of the wells might flow naturally again, without pumping.

[arrynillson] 07/8/2018 08:11

Chutes - It may have been £500,000,000, happy for you to correct me on that, it was on the launch media which also included footage of him being ' clapped ' out of the building by his staff - might be a few faces you recognise!