Columbus Energy Resources Share Discussion Threads

[offerman] 29/8/2018 08:32

Nice to at least see something of mine in profit UKOG unfortunately though I only bought £1300 at 2.1p couple months ago. I certainly do get this stock market malarkey drastically wrong but hopefully longer term LK can improve all for us all. And yes TG my 1 million is looking in a very sorry state right now. But I think I would be foolish to sell when looking at the road map. The only thing looking complicated at the moment is this petrotrin news which probably isn't helping the share price Also the fact there has been a consistent large seller for about the last seven months now so until the sellers disappear I feel we are going to be drifting down at least until the next update.

[the guardian] 29/8/2018 08:30

I am now sitting on a loss and must vent my spleen and say that the communication from this company is abysmal.

[offerman] 29/8/2018 08:27

Morning TG Snap We wrote our posts the same time . Now I rushed in too quick but then again maybe they might have gone the other way after my purchases Definitely crystal ball territory with CERP ..

[offerman] 29/8/2018 08:26

Dare I say it but 3 p possible? I still think we will do well over next six months and end the year in the 5s Wish I had held off adding 500k more shares in mid to high 4s but glad I didn't add more at 3.9 A's was tempted. Think I'll hold off just in case 3p is reached and If not I'll be thankful for what I have if we bounce and go much higher in time...

[the guardian] 29/8/2018 08:24

I bet you are glad you own 1 million of these offerman.

[12bn] 29/8/2018 08:23

If oil is processed abroad, after the demise of Petrotrin, then costs are likely to increase due to transport costs. Will the Trinidad govt shoulder any additional costs or will they pass them on to the oil producers? Maybe they will issue new contracts or increase taxes,either way I doubt this news will have a positive effect on Cerps profits,it could prove expensive for this loss making company.

[the guardian] 29/8/2018 08:16

Don't see why the share price is falling. Decision to close refinery will not affect us.

EDIT: Looks like our board should be issuing an RNS. Oh sorry, I forgot. We only do 3 monthly videos or tweets.

[12bn] 29/8/2018 08:16

The share price is sliding away on the Petrotrin news, it could be heading back to 2.4p,where it was before Koots took over,imo.

[rogsim] 29/8/2018 08:03

See point 10 - will Petrotrin sell their E & P?:

[the guardian] 29/8/2018 07:55

TOUCHSTONE PROVIDES CLARITY ON PETROTRIN RESTRUCTURING

Calgary, Alberta - August 29, 2018 - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX / LSE: TXP) would like to provide clarity on the Petroleum Company of Trinidad and Tobago Limited ("Petrotrin") restructuring announced on August 28, 2018. Petrotrin has announced a restructuring of their operations which will include the future closure of their oil-refinery operations and a redesign of their exploration and production business. Petrotrin has advised that the refining of crude oil will be phased out and that future production volumes will be exported for processing at other facilities. Petrotrin expects that it will begin transitioning to this model in October of this year.

Touchstone believes these changes will have no impact on its current and future operations, as the Company currently sells produced crude oil volumes to Petrotrin under various marketing contracts and does not interact directly with the refinery. The Company expects that it will continue to sell crude oil production to Petrotrin under our existing contracts; however, rather than selling to the Pointe-a-Pierre refinery, it is presumed that Petrotrin will export the product at world pricing.

It is the Company's view that the restructuring will benefit the country in the long-term, as sustainable profitability of the state-owned company will enhance the standard of living in Trinidad and ensure the continued viability of the oil and gas-based economy on the island. Touchstone also recognizes that the announced retrenchment directly impacts a high number of skilled workers in Petrotrin's organization. We are hopeful that as we accelerate our development activities in Trinidad, some of the qualified personnel may find opportunities in our organization.

Paul Baay, President and Chief Executive Officer of Touchstone said, "We believe this is a difficult but necessary step for Petrotrin, and we look forward to working with them as a partner while they transition the business and return to profitability."

Petrotrin has announced that they will be meeting with all stakeholders in the coming weeks to discuss how the proposed changes will be implemented, and Touchstone expects to be an active participant in these meetings.

[the guardian] 29/8/2018 07:12

TXP have issued an RNS re the closure of the refinery. On phone so can't copy it. No change to contracts with Petrotrin.

[arrynillson] 28/8/2018 21:14

12bn - you are razor sharp today - there can't be many who could work out the derivation of Petrotrin all on their own!!!

As you are on top of your game today it was a shame you couldn't push yourself that little bit harder to read the AGM rns or watch the media - if you had you would have not have made such a foolish comment about Placing as they have just negotiated a NEW Lind loan facility for US$ 3,250,000 with a conversion option at 8.1p - perhaps time to amend your thread header 12bn?

[12bn] 28/8/2018 19:00

The Guardian28 Aug '18 - 12:31 - 5574 of 5574
0 0 0
Interesting. Government not happy with Petrotin and neither are the workers. Could be good for all Trinidad oilers if this is handled correctly./////// Holders like The Guardian need to do more research of the basics,it is PETROTRIN not Petrotin! The name comes from petrol and Trinidad,hence PETROTRIN.

[the guardian] 28/8/2018 12:31

Interesting. Government not happy with Petrotin and neither are the workers. Could be good for all Trinidad oilers if this is handled correctly.

[nexus7] 28/8/2018 09:15

OWTU fears job loss fallout
D-Day for Petrotrin

Published:
Tuesday, August 28, 2018

The entrance to the Petrotrin Refinery in Pointe-a-Pierre yesterday. Petrotrin’s management is expected to meet with OWTU officials to discuss the future of the company today. PICTURE RISHI RAGOONATH
By the end of today the country will be clearer on the future of the state oil company Petrotrin...

[offerman] 28/8/2018 08:56

Morning all Had a couple of weeks awayNot really surprised to see us lower due to slow news flow and progress and lack of buys Pretty sure it's all going to change over the next 6 months with confirmation sign off of S.D drilland multiple well stimulation's across new acreage . New equipment brought in to Goudron COULD help further small increases on some of the wells and reduce sand problems. Possible material £100m deal by end of 1st qtr 2019 yes dilution will inevitably happen with that but should be few more thousand bopd added forThat size deal plus additional acreage no doubt too. Not long for mid 2019 SWP possible game changer too .... One great thing from my perspective is I don't know why but time seems to be really shifting along since when LK took over . Next May will be twoYears in to the original 3-5 year plan. I think SWP will be a great success as will other areas too and Spain could be interesting too . We have a lot going for us that's for sure . For us very very bright indeed even if the current share price isn't but see it as a top up opportunity for any spare funds.

[12bn] 28/8/2018 08:32

The share price here is sliding away,as Cerp lose money I am expecting a placing/fund raising/dilution here soon. When Cerp was over 6p (120p in todays terms) it slide to 0.12p (2.4p in todays terms after the 20:1 consolidation) I wouldn't be surprised if this was heading back to that territory.

[the guardian] 27/8/2018 15:54

USA crude reserves and rigs are on a continuous roller coaster.

[nexus7] 27/8/2018 09:32

Oil Holds Gains as U.S. Rigs Decline at Fastest Pace Since 2016

► U.S. working oil rigs fell by 9 to 860 last week: Baker Hughes
► WTI little changed above $68/barrel after 1.3% gain on Friday

Oil held gains above $68 a barrel on slowing American drilling and investor optimism after a breakthrough in a trade standoff between the U.S. and Mexico...

[nash81] 25/8/2018 02:01

time to buy back in.... oil price this year is way above 70 vs last year of way below that.

[garnhiem80] 24/8/2018 14:18

You could see it as a downward wedge pattern, But I don’t do technicals so couldn’t confirm! Reversal indicator apparently..

[garnhiem80] 24/8/2018 14:15

Spikes and retraces have got smaller over time, I see! Where’s the bottom? will it reach there before the next lot of news.. when’s the next spike due? Oh the joys!

[brasso3] 24/8/2018 13:40

TG

Similar things happen at mos companies when a high profile CEO comes in. The market expects these guys to perform magic in a short space of time and invariably it take longer than that. Initially hype takes over and then reality kicks in.

Example: Tom Cross at PMG, Peter Levine at PPC.