Columbus Energy Resources Share Discussion Threads

[garnhiem80] 16/1/2019 19:03

I believe from local news sources, the actual fields may have not had a direct impact from flooding! More so the restrictive mobility around the island and power outages. There was probably more work planned and a commencement date much earlier than the months indicated in the RNS. Leo also indicated repairs were also needed before even gaining access to some areas.1000bopd was still Met and by the sounds of it a massive team effort to achieve it during a time of some extreme weather.

[arrynillson] 16/1/2019 18:27

Dross - the same rns states regarding South Erin ' TWO remedial sand production related rig workovers were performed in OCTOBER ( the big flood month ) on the main field production well ER-105 restoring sand free production from the well to 40bopd'.

You must have missed that dross!

BTW from the CERP website ' The Lower Forest Sands are known to be the most prolific oil producing sands throughout the Southern Basin'.' South Erin well ER-105 has encountered a new compartment with FULLY CHARGED Lower Forest Sands ' - the latest rns says they are to drill that imminently - something that may warrant an rns perhaps?

[garnhiem80] 16/1/2019 16:36

What about the other 4 assets, where as stated in the RNS.."Following the Steeldrum acquisition, the focus of the Company in Trinidad is to optimise cashflow and profits from our six assets."And.."Production was adversely affected by extreme weather conditions, with record rainfall and extensive flooding witnessed during the period, severely hampering both routine operations and incremental well work."

[arrynillson] 16/1/2019 15:19

Dross - you forgot to mention in your question that you've been attempting to undermine LK over the issue for many days prior to running out of road!

[eggchaser] 16/1/2019 13:45

And we were wondering why you keep posting in regard to a company that you clearly don't trust and therefore invest in which was our original question and we await your reply?Like I say your posts are of interest to those whom might take action so just some friendly advice - be careful with your manipulation filled posts and views.Slightly to the left are you invested in TRIN still?

[12bn] 16/1/2019 12:40

Sounds likely Esmerelda. If anyone hasn't encountered Esmerelda before she was the person who spotted that the overall Trinidad IPSC production figures showed that LGOs production was falling fast. That helped me decide to sell out of LGO when the share price was 3p (60p equivalent now),so thanks Esmerelda as I for one appreciate your input.

[arrynillson] 16/1/2019 11:12

Esmerelda - no excuse was needed he merely gave information- I have answered dross in detail on LSE as the answer to his riddle is in the rns re 2 goes at reworking South Erin in the tsunami like conditions that have been independently verified by Gov Minister and LayLadyLay.

You are normally capable of weighing arguments - this is just part of the current campaign to try and discredit LK ( until dross buys in again!).

[esmerelda] 16/1/2019 09:29

Two other Trinidad oil companies (TXP and TRIN) announced results yesterday and both had production up and no mention of significant rain events affecting them. I thought it a little odd that CERP had suffered much more than they had. Could the weather be more of an excuse rather than the reason for the production decline?

[nexus7] 16/1/2019 09:21

Two Big Producers Just Called a Bottom for Oil: $60 a Barrel

► OPEC+ member Oman sees crude average as high as $70 this year
► Oil prices are up more than 20 percent since December lows

taly’s top oil producer and Oman’s energy minister predict the latest oil rebound will stick.

Prices are up more than 20 percent since hitting an almost two-year low in December, enough to alter OPEC+ rhetoric from reassuring investors that it will cut output to taking credit for the rebound, and in the case of Oman, forecasting where oil will trade for the year...

[12bn] 16/1/2019 09:13

08:36:57 2.8750 100,000 O 2.8500 2.9500 Sell /////// Seller still around I see,how long will the MMs keep the bid at 2.85p I wonder?

[eggchaser] 16/1/2019 08:39

And we are still waiting for you to explain yourself. You are like a year 2 play ground bully although this time you picked on the wrong crowd.So as you say we await your reply.

[12bn] 16/1/2019 07:52

12bn15 Jan '19 - 12:04 - 1266 of 1269 Edit
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Edgein15 Jan '19 - 10:18 - 6838 of 6838
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Carp,

Yes that's what the shallow formations may be capable of and a secondary target for CERP. But the main target is likely to be the deeper Herrera formations.

Regards,
Ed./////// Cerp/LGO was looking to drill a deep well into the Herrera sandstone level back in 2011 but it never happened,WHY? The cost! Back then $15m-$20m was muted as the likely cost but I accept that it may well be less than that now but can Cerp afford to drill a 12000 ft well? I doubt it and I doubt it will be attempted this year,a shallow well may be attempted. Back in the 1960s when a deep well was attempted the drill bit got stuck and the attempt was abandoned never to be tried again. I do think that there is a lot of oil in the deeps there but the risk is high.

[12bn] 16/1/2019 07:50

rossannan sounds sensible now,he wasn't so sensible when he was ramping and buying this on every drop from 6p to 1p old money (120p-20p by todays sp). Now that he is talking sense everyone is against him. LGO/Cerp always was a vehicle to transfer wealth from PIs to directors via dilution and I don't think much has changed since NR left and LK took over. Ross is correct that the Herrera sandstone level at 12000 ft will not be drilled in 2019,if ever imo.

[arrynillson] 15/1/2019 22:59

EggChaser - Sherlock Rossannan posted his latest ' riddle ' on LSE which I've helped him solve - seems like he missed vital information about South Erin that was staring him in the face from the latest rns!

[eggchaser] 15/1/2019 21:31

It's of no surprise that your meteorological skills are as floored as pretty much most of your manipulated garbage you post.Have you thought it a better idea to perhaps read something more in keeping with your lonely brain cell? I suspect you can pick up copies of Dandy although we fear that you will never buy a copy.Like I say we see you and some friendly advice be very careful in what you post from now on.Be seeing you -

[eggchaser] 15/1/2019 20:20

We like this. All that cash burn but the company look to have declined to use the facility. Oh and when is rain not rain or floods not floods - silly us - when it suits Dross, 12bn/Smoggy or the other clown on LSE LLL agenda.Lind Partners loan position: Loan balance reduced to US$0.40 million at end December 2018 (US$0.48 million at end September 2018) with all monthly repayments made in cash during quarter. Due to the above-mentioned capital raise, the Company has not drawn-down any funds from the US$3.25 million Lind Partners facility (the "2018 Lind Facility"), announced on 13 July 2018 alongside the announcement of the Steeldrum acquisition. The 2018 Lind Facility was established by the Company as a form of "financial insurance policy" and terminates in early January 2019 if funds are not drawn-down.