Columbus Energy Resources Share Discussion Threads

[edgein] 16/6/2017 11:52

Peter,

When he talks about building a $200m+ company, that's around 30p per share, no wonder the management have options that vest at 20p, they're completely aligned with share holders this time. I guess one of the 200mmbbls cedros targets if they came in or Goudron could get us there. I like his focus too, seems intent on getting the job done.

Regards,
Ed.

[offerman] 16/6/2017 11:51

Peter you're not alone.I've lost a packet ..... need 40p the break even.

[edgein] 16/6/2017 11:50

TheNorth,

Apologies for my bad language, I'll watch what I say in future. ;)

Well as LK takes charge and is already making very good changes (waterflood and cost cutting), the derampers will have to get more and more creative. There was talk about even hybrid EOR here which would be CO2 as well as water, so LK will have all sorts of operational options. But he's getting straight to business and I like the way he operates, no nonsense, its a pity NR didn't reduce office size ages ago. Waterflood is going to make this an exciting summer, repressurising the C-Sands that are relatively untouched could give some impressive numbers as the pressure builds.

Regards,
Ed.

[arrynillson] 16/6/2017 11:46

dodge city - no one said it would be easy but then no one, except you, is saying ' There's no water in Trindad '.

I know research is anathema to you bashers on here but sometimes even a little can save lots of embarrassment- even your mate 12bn probably couldn't keep a straight face reading your post as he modified it later - ' If as you say,there is no spare fresh water' !

12bn, head of no research, is now a geological expert on oil pockets in the Goudron field - I think ' Oliver ' knows more about picking pockets than 12bn!

[peter_pb] 16/6/2017 11:45

I attended the launch last night and was very impressed with the openness of Leo and his general attitude, especially towards shareholders.

He is very focused on raising the share price and has it all planned out. He also answered my questions well and gave me a great confidence in the new company.

Let's hope that it all works out as I have currently lost a large amount of money on this share!

[thenorth] 16/6/2017 11:19

Ed don't swear on the thread with that avatar!!!As June is in our summer I'd say an RNS ref water flood is imminent too!So the issue over power has been boxed off can you believe there are some saying there is no water in Trinidad???? My only issue is finding this but if there was to be an open offer for this purpose then I'm all for it!

[edgein] 16/6/2017 10:54

TheNorth,

I'm not a big fan of the 1 code RNS thing. 12bn however swears by them if you read the KOD thread. I guess he's expecting an update soon. :) I'm surprised that LK didn't update via RNS, perhaps he's building up to something even more significant, like commencement of waterflood.

Regards,
Ed.

[dodge city] 16/6/2017 10:53

arrynillson
I suggest you take a look at what Range have been up to. They have been fannying around with waterflood for about a year and getting nowhere.

They have all kinds of issues with waterflood including availability and access to water.

[12bn] 16/6/2017 10:51

A lot of hope being generated on 'water-flood' but as I said earlier, the oil has migrated up into pockets,which is probably why the new wells production 'fell off a cliff',so there is no guarantee that expensive water-flood will work on an economic basis. We shall see,if water-flood ever actually happens! This is a big gamble,especially as we all know that CERP/LGO has always issued discounted shares to keep running. Hold and hoping has not proved a good idea here in the past but there's a new chairman here now and he insists that the magic wand he bought off arry Potter will work a miracle here! :)

[nexus7] 16/6/2017 10:32

Interesting reading

Waterflooding

Waterflooding is the use of water injection to increase the production from oil reservoirs. Use of water to increase oil production is known as "secondary recovery" and typically follows "primary production," which uses the reservoir’s natural energy (fluid and rock expansion, solution-gas drive, gravity drainage, and aquifer influx) to produce oil...

[arrynillson] 16/6/2017 10:15

dodge city - ' There's no water in Trinidad ' - that comment makes some of 12bn's ranting appear intelligent and takes bashing to a new level of desperation since Leo took over and the share price has performed so strongly!

BTW anyone researching LGO knows that NR told us there was sufficient water on site to feed the pilot water flood project - the total project is likely to require sourcing but it's not yet decided whether all water or possibly CO2 or combination - watch this space dodge and 12bn!

[nexus7] 16/6/2017 10:08

From Rustincohole Today 09:32
-------------------------------------

RE: Columbus

I agree, i find it hilarious now watching the poor efforts the moaners on here are now having to go to in order to try and bash the company.

People commenting that the actions taken since Leo started have been irrelevant need their heads testings, he's been here like one month!

In that time

- We've got whole new long term strategy
- New website and presentation
- New CFO
- New offices at 1/3 of the expense
- He's brought 3 wells online (regardless of whether they are show stoppers or not)
- He's expedited the critical waterflood program to this summer! A full year ahead of schedule (pivotal in my view)

What the hell were people expecting him to be able to do within one month if all of the above is 'hot air'?? Did you think he was just going to turn up and start spraying oil all over the place with a 'wolf of wall street' style party?

[jcgswims] 16/6/2017 10:07

From bigdouble

Columbus Today 09:26 I was more than pleased with what Leo had to say last night. Think once the water flood starts we will see a surge north in the share price

From Siliv

RE: Columbus Today 09:29 Did Leo allude to how the waterflood was going to be financed? Can we do it with existing resources?

From bigdouble

Columbus Today 09:31 Ideally funded from existing resources. Possibility an open offer.

From Horseyhead

RE: Columbus Today 09:58 Bigdouble. Was there any mention of increasing production at goudron by using schlumberger type pumps instead of those currently in use. Targeting increase against longevity as has been the case. ?

From bigdouble

Columbus Today 10:02 Yes, they are working on this at present. he's very confident existing wells can be greatly improved.

[nexus7] 16/6/2017 10:03

From RustinCohle Today 09:11
------------------------------------

RE: FundingThe waterflood program at Goudron has always been the end game and now we have a chance to see where it goes, even if it just a pilot program. If we're able to artificially start generating good pressure at some of the recently drilled wells then we could see production jump imo. This i think, is the key to Leo saying step one is to get production up.

I had been wondering how he was hoping to make a real difference by just using electric pumps to squeeze a few extra barrels out of the odd well. It seems to me that a pilot EOR program was the plan and that's why it's being expedited a full year ahead of schedule

[thenorth] 16/6/2017 10:00

Sean looking at that 1 trade I'd say news in imminent....

[sean spicer] 16/6/2017 09:51

I think it's reasonable to expect an Operations Update next week announcing the activities that were mentioned at yesterday's presentation.

[12bn] 16/6/2017 09:36

09:29:04 3.0700 900 O 2.8000 3.1000 Buy 1,729,661 41,080
09:28:31 2.8250 7,995 O 2.8000 3.1000 Sell 1,728,761 41,080
09:25:48 3.0975 841 O 2.8000 3.1000 Buy 1,728,761 33,085
09:24:44 2.8900 68,771 O 2.6500 2.9000 Buy 1,727,920 3////// Only small buyers at this price,this will tumble back soon enough. 2.8p bid won't be around long imo,snap the MMs hands off imo.

[the guardian] 16/6/2017 09:28

Looks like the brakes have suddenly been taken off.

[12bn] 16/6/2017 09:05

Another problem dodge is that the oil seems to have migrated up into pockets and therefore there is no guarantee that water-flood will be effective. Even if it is Koots will have to do a discounted placing or two to fund it,so more dilution. If as you say,there is no spare fresh water on Trinidad then maybe sea water will have to be piped in and that sounds very expensive. I wouldn't be surprised if the whole idea is quietly dropped,after a big discounted placing is done on the pretext of water-flooding. Will Koots become NR mark 2,probably,imo.

[dafrog] 16/6/2017 09:01

The Guardian, TVM!

[nexus7] 16/6/2017 08:56

From RustinCohle Today 08:26
-------------------------------------

Water flood program

I don't think people realise how major this could be.

The amount of oil coming from each well was always good but as we all know the pressure dropping was the issue.

The water flood could see a huge change in the game and now it's happening in a few months ! Amazing news.

[12bn] 16/6/2017 08:55

A placing or seda tap Yorkville type deal is a cert here imo. CERP (LGO) loses £4m a year and even if running costs are massively reduced I still think that the losses will be very large but then there are debts to pay to Lind @ 20% APR (according to arry) and now waterflood. Looking on the bright side,waterflood is likely to be shelved for quite some time imo despite the rampathon about it yesterday.

[the guardian] 16/6/2017 08:32

The 2.785 trades are sells and so I make the total buys 869.441

[dodge city] 16/6/2017 08:24

All buys and the share price is down = placing.