Columbus Energy Resources Share Discussion Threads

[toploadermike] 29/11/2018 13:48

I'll add to the last post, if those sales do come today I can see it being no more than .5 mil but again, I don't think we will see that.

[jcgswims] 29/11/2018 13:47

I wouldn't spend too much time on it tbh, I, along with a lot of posters here are here for the long term and always have been, my musing over trades is just that, it can explain why the price isn't going up with all the buys, just in case people were wondering.

[toploadermike] 29/11/2018 13:41

Hi Jcgs,

That's what john and I had discussions about recently but I have a feeling in this instance you won't see those sales as previously noted by you and some other original share holders. Understood what you say about how many they have left but(I'm only guessing here) that they are getting to their low reserves, although I bet now I have said that they will offload to prove a point. Whoever it is obviously doesn't care about money as offloading at such low prices when "if they had paid for the shares" would be a %loss" so what would be the point? I know you and the others have had a long time with these shares, a lot longer than me and I too have seen what you have evidenced previously but again my own personal opinion "for what it's worth" is that I think those sales you are referencing are drying up. I have an idea that today trades are not buy now sell now trades, one of them is mine for sure and they seem to be a different profile to those previous sales IMHO.

This weekend I will be looking at all the trades since conception, both buys and sells and I will be looking at the numbers as close as I can. I may be able to identify how many the original holders have left. Might take me all weekend and even longer but I'm going to give it a go. I can't say how I'm going to do this but I have a model for it so let's see how I get on, I'll post on here once I have the results.

Hope that helps?

ATB
TL

[jcgswims] 29/11/2018 13:41

From 9min20

[arrynillson] 29/11/2018 13:30

SmoggyG - you usually resort to posting trade details when you are desperate - you did tell us your own trade recently - 0.18 sale of KOD after you pumped it whilst it it fell by over 50% down to mates rates Placing at 0.13 - we don't forget your transformational trading strategy - especially as it involved sale of CERP in the 2p area after which dizzy heights were achieved - #big time loser!

[jcgswims] 29/11/2018 13:24

Well judging by the trading today and in previous days, I'm expecting a large sell showing later of at least £2/2.5m. Whoever it is has been selling for a while, we'll see how many they've got left in the coming days I presume.

[toploadermike] 29/11/2018 13:16

We only live once :-)

[offerman] 29/11/2018 12:49

Certainly deserve it with all the hard work you put in from what you said .

[toploadermike] 29/11/2018 12:48

Agreed John, I'll take a look at the bungalow in the Bahamas now :-)

ATB
TL

[offerman] 29/11/2018 12:37

Think was a wise choice Mike and look at this way. Say if it where to drop from here that would be minimal negligible, now do you really think that the rise would be small and negligible from here.......Absolutely no.We have pretty much hit the floor and I think you've made an excellentlydecision .

[toploadermike] 29/11/2018 12:29

Thanks John,

Thought about what was discussed and couldn't hold on any more as hopeful bottom reached and upward slide.

ATB
TL.

[offerman] 29/11/2018 12:11

Nice one Mike . Excellent top up point.

[smoggyg] 29/11/2018 11:51

MMs still soaking up the buys here,ominous.

[toploadermike] 29/11/2018 11:25

Bought some more again this morning :)

[offerman] 29/11/2018 10:46

Thanks JCG , so is there abouts then on that range .

[jcgswims] 29/11/2018 10:39

From the FAQs

21/11/2018
I believe that SPT is levied on oil price above $50/barrel. Could the company please give a statement on how the SPT is calculated and what the sweet spot is for profits? For example if the oil price is $49.95 at what price above $60 would profits be the same?

•SPT is payable for onshore oilfields in Trinidad at a rate of 18% at the end of each quarter as and when the sales price received during that period exceeded an average price of US$50.00 per barrel. An important factor to note is that the SPT calculation also takes account of allowable capex spent by the producer during that period, with deductions being applied in the SPT calculations accordingly (eg. 20% of capex spent during that quarter can be offset against the SPT amount due and any brought forward offsets from previous quarters can also be applied). This can sometimes mean that no SPT is payable by a company for a quarter if the capex spend offsets are greater than the SPT payments due for that period on sales. This can sometimes lead to a carry forward to the next quarter of "offsets" during periods of high capex payments by a company (eg. during drilling, facility enhancement or water injection campaigns). During periods of high capex spend, SPT may not be payable in cash from one quarter to another.

• As for the "sweet spot" for profits, this will depend on various factors, including the level of current and past allowable capex spend, as referred to above. Likewise, it can be difficult to confirm the oil price at which a company would be better-off above US$49.95 given capex offsets. However, as a general rule of thumb, an oil price received around US$61/barrel would be required to obtain the same level of profits from sales at US$49.95 if capex spend is zero for that period.

• Columbus regularly meets with Trinidad Government representatives and also liaises with other oil & gas companies operating in Trinidad with a view to improving the tax environment for oil companies operating in-country, in particular with a view to amending the SPT regime to soften the impact on companies once the oil price received exceeds US$50/barrel. This is an ongoing dialogue but like most taxation considerations, there are various other commercial, social and political issues in play which Governments and their advisers need to consider. This generally means that the pace of any changes can be slow. The Company will provide relevant updates via RNS if there are any changes to the current SPT arrangements in Trinidad.

[smoggyg] 29/11/2018 10:12

Solid buying but the MMs happy to keep the offer price at 3.40p,strange,unless they are working a big sell order!////////09:52:20 3.4000 10,000 O 3.2000 3.4000 Buy 961,043 0
09:22:45 3.4000 5,000 O 3.2000 3.4000 Buy 951,043 0
08:30:11 3.4000 210,000 O 3.2000 3.4000 Buy 946,043 0
08:17:56 3.4000 293,970 O 3.2000 3.4000 Buy 736,043 0
08:13:33 3.4000 301,073 O 3.2000 3.4000 Buy 442,073 0
08:09:25 3.4000 100,000 O 3.2000 3.4000 Buy 141,000 0
08:06:34 3.4000 41,000 O

[offerman] 29/11/2018 10:08

Just to add The sweet spot of 50 or above 69 but in between that range we get hit pretty hard. I'm open to correction.

[offerman] 29/11/2018 10:07

Morning NexusI thought $60 per barrel was a very bad price for Columbus? Due to SPT ipsc? I thought the sweet spot for CERP was50 not 60? Of course any new M&A future deals that are not IPSsee might well benefit us a heck of a lot more. So let's say the Saudis if they are overproducing make the oil price goes up that will in turn only encourage more shale production.One thing I don't know are there any limits on how much America and shale can produce as they are not in OPEC are they bound by any rules?

[nexus7] 29/11/2018 09:51

Btw Breaking news:
Putin: Russia Is Fine With $60 Oil

[nexus7] 29/11/2018 09:46

From my last post:

...Because Saudi Arabia is now massively overproducing, by about 1 million barrels per day (mb/d), a return to the prior production target would translate into a sizable 1 mb/d cut.

With this cut my bet is 60$/barrel (WTI).
CERP would be very Profitable with 60$ but most of the frackers Not so much.

[offerman] 29/11/2018 08:44

Huge problemThough nexus is :Unlike the oldDays there wasn't really much in the way of shale. Today is different story . As soon as oilIncreases shale gains massive share of the market floods it and diluted the price and cuts . Saudi opec cut shale increase giving tanks bigger and bigger share .

[nexus7] 29/11/2018 08:41

How Much Oil Production Will The Saudis Cut?

...
This puts Riyadh in a bind. Saudi Arabia needs to patch up its relationship with the West, but it also can ill-afford oil prices at current levels. Saudi Arabia needs Brent to trade north of $80 per barrel for its budget to breakeven. Massive budget deficits during the 2014-2016 downturn help explain Riyadh’s about-face in late 2016 – they had tried to force high-cost drillers out of the market by crashing oil prices, but ultimately caved and engineered an OPEC+ production cut to push prices back up...

[ccr1958] 29/11/2018 07:28

Morning offer and mike ... yes the tweek in volume is encouraging,be nice to see it continue now !

[toploadermike] 29/11/2018 06:58

Hopefully we should have some good news soon too....

ATB
TL