Columbus Energy Resources Share Discussion Threads

[smoggyg] 23/11/2018 09:40

For the 6 month Period ending 30 June 2018

FINANCIAL

-- Revenue for period of GBP3,615,000 (1H 2017 GBP2,460,000), an increase of 47%
-- Gross profit for period was a profit of GBP429,000 (1H 2017 a loss of GBP42,000)
-- Pre-tax group loss for period of GBP2,465,000 (1H 2017 loss of GBP1,964,000), the increase being mainly due to exceptional costs in Spain///////// This is why Cerp keeps having to raise cash via share issues.

[arrynillson] 23/11/2018 09:25

SmoggyG - NR was Driller Killer - just muddled from one drill to another hoping for another 1000bopd gusher with a huge sum of borrowed money - our new man has experience of building a successful oil business and keeps options open.

I'm happy with the management steadily building production as I can see that profitability can be achieved quite soon now from a variety of sources.

This regular reference to NR and old SPs suggests if you were in charge of the BBC the ' Good Old Days ' would be your idea of prime time entertainment!

No one forcing you to invest here and you still haven't explained why any decline in the share price excites you so much!

[avsome1968] 23/11/2018 08:51

well we shall see smoggy my average under 4 p better than schroders looking to add a few more happy to sit on them at that price

[smoggyg] 23/11/2018 08:19

avsome1968,Schroders were involved in the 5p placing,not the finest investment move and they were in here at even higher prices. My guess is that the fund manager who made the poor investment decisions will have been sacked already but if he hasn't then he should be preparing his CV.

[smoggyg] 23/11/2018 08:15

Arry,Cerp is doing the same as LGO did under NR,issuing shares for cash and diluting share holders. The share price dropped and dropped from well over 6p (120p by todays measure) to 0.12p (2.4p) and many holders held on right through the fall. Some here have held this from 7.25p to now,like you. I guess that burying your head in the sand like an ostrich is your favourite investment style arry.

[livinginhope] 23/11/2018 07:12

arrynillson, thanks very much for the information. CPR Report Assessment of Goudron Field. For those that haven't seen it it is in the 2016 section of Historic Documents on the CERP website.

[avsome1968] 22/11/2018 21:13

schroders have increased there holding to 15% actually these guys don't invest in small caps this vote in confidence for the small Trinidad company don't forget they bought in at 9% 5 pence placing now increased to 15 you should be adding here this price long gone in 12 months

[offerman] 22/11/2018 17:23

Hi Carp Yes you're probably right about Schroeders.And lol yes about my some time ago EOY share price price of 5p would look amazing ( took me rose tinted specs off or so i thought back then lol as learned not to over estimate OR SO I THOUGHT!! Looks like I was still wearing them even back then and whilst then that seemed pessimistic I'd happily take that for end of year . May go in to the high 2's ??? Bloody mad really. But market wants to see increase in bopd and cash operation positive . Next quarter results will be crucial. If we miss targets then bloody mms will probably take more off as there's no stopping them they can set whatever they want it appears .

[toploadermike] 22/11/2018 16:56

I echo that, please Leo...

[carpadium] 22/11/2018 16:39

offer, not sure that Schroders operate like that, buying on dips, more likely to add on positivity and upward trajectory. More sense that retail investors who try to guess the bottom.

Having said that great buying price as we always see once ISA allowance for the year completely invested! Thought your eoy price guess some time ago, of around 5p?, pretty pessimistic but right now I'd settle on you being correct. Maybe a surprise announcement in December to end the year on a high... please Leo!

[offerman] 22/11/2018 16:26

Surpised Schroders aren't buying more at these levelsI'mVery tempted too but should really be careful as I piled loads in here already

[xippy] 22/11/2018 16:20

Tried to post earlier. The boys here are playing the right game. They're not doing an Eric - playing all the right notes in the wrong order, they are do it the right way. I have up most confidence they are doing the right things. If others don't see it so be it. Shroders are a great ii to have on the books. Dyor. Xip

[xippy] 22/11/2018 16:15

Also just got more on this dip. Onwards and upwards. Xip

[temmujin] 22/11/2018 14:39

hope you guys realise they shut down the oil in Spain because they are pro natural gas now...thats why i have invested in PXOG..ABSOLUTELY HUGE FIND IN sPAIN and only 0.3p to buy £3m market cap...news imminent

[toploadermike] 22/11/2018 14:38

Got more today, but not getting any more until back in the blue.

ATB
TL

[toploadermike] 22/11/2018 14:33

Does anyone know if CERP will be shutting down operations and/or production over the Xmas period? Not sure what the laws are in T&T.

ATB
TL

[arrynillson] 22/11/2018 12:02

Livinginhope - Thanks for your reply - you say ' Above $61 we make more profit than we would have done at just below $50 '. If the maths relates only to SPT I am in agreement but most of the oil is currently produced by Goudron under the IPSC. The broad financial terms of the IPSC are published in the CPR on CERP website. This shows that above $50 the Royalty % rate increases.

If, hypothetically, there were no SPT allowances to offset I calculate WTI needs to exceed circa $74 to net the same amount per barrel as would be yielded at $50. The CPR financial brief also refers to CERP getting less than WTI from Petrotrin - looking at the 5% figure mentioned that suggests the ' sweet spot ' at around $52.50 - I believe NR calculated it slightly higher.

As you say CERP are spending plenty on CapEx - they mentioned a Moyno pump had cost $50,000 recently so I'm sure they will be claiming what they can so my hypothetical case is worst case - with full SPT relief the ' sweet spot ' discussion becomes almost irrelevant.

There are different ways to view changes in WTI - I could argue that the recent fall approaching $50 is unlikely to have as much effect on CERP as might, initially, be thought! With CERP and IPSC in my view production volume is more important than $WTI at these WTI levels and CERP are doing well to achieve what they have, so far and are well placed to sustain growth in the future.

[livinginhope] 22/11/2018 08:12

arrynillson, what is clear from the statement is that capital expenditure affects the calculation of the sweet spot. With no capital expenditure the company makes less profit due to SPT if the average oil price is above $50 until it reaches $61. $61 less 18% equals approx $50. Above $61 we make more profit than we would have done at just below $50, but between $50 and $61 we are in a poor position where we are actually worse off. However the calculation is theoretical as there will always be some capital expenditure of which 20% is an allowable deduction against the SPT that is levied. The recent fund raise enables more capital expenditure which benefits Columbus by not only being able to grow production faster by improving facilities and bringing forward drilling of planned wells but also reducing the SPT. Obviously the more we produce then the more profits we should make and the more SPT we will pay but that's a bonus. I can't see anyone refusing a pay rise because they have to pay more tax providing the overall bottom line is improving. Anyone can ask a question of Columbus and I suggest you do so as my experience is that you will receive a response which you can share with us if Columbus don't put it on their website. The way that SPT is calculated needs to change but until it does we will have to live with it.

[toploadermike] 21/11/2018 23:14

From Business News AU

Oil rebounds but glut worries persist
Oil prices rose about $US1 a barrel a barrel overnight, bouncing from the lowest levels in months, after US government data showed strong demand for refined fuel, but concerns remained over rising global crude supply.

Gold up on soft dollar, rates uncertainty
Gold prices have risen to a two-week high as the dollar slipped, with uncertainty on the pace of interest rate hikes by the US Federal Reserve also supporting the metal.


ATB
TL

[arrynillson] 21/11/2018 17:12

Livinginhope - I've read the answer on SPT and whilst I don't disagree with the calculation it occurs to me, as you referred to the ' sweet spot ', you may have been asking about the $ WTI level which is best for CERP having regard to SPT and the deductions levied under the IPSC - this is the odd situation where, for example WTI at $60 can yield circa $7 less as a net back compared to WTI $50!

I don't wish to bore people with this unnecessarily so let me know if you are interested!

[the guardian] 21/11/2018 17:08

With the falling price of oil (until today) and the imminent OPEC decision on production, I am very pleased that we owe so little on the Lind loan facility. The fall reminded me of LGO in it's darkest days.

[toploadermike] 21/11/2018 16:54

Great posts, info flow just like this is needed.

ATB
TL