Columbus Energy Resources Share Discussion Threads

[12bn] 17/7/2020 07:41

I notice a 600k and 500k sell yesterday,it looks like Lind are still selling,ominous.

[armatrading] 16/7/2020 22:30

Link to Eytan's BPC slides:
[...]

[armatrading] 16/7/2020 22:24

Eytan Uliel Proactive Presentation / Q and A:

[arrynillson] 16/7/2020 22:23

12bn - are they forecasting negative oil prices and massive oil storage problems like you did a few months ago 12bn?

[kazz] 16/7/2020 12:51

I think they are saying that CERP wouldnt exist if the merger didnt go ahead, and if the merger does take place and P1 is a duster, BPC, with CERP, will still survive, albeit the share price will take a hit. So better than nothing.
Regards....Kazz

[bahamasoil] 16/7/2020 11:57

Q. How did the parties agree the relative valuations and how does this relate the net present value ("NPV") of each party's assets? Does the transaction undervalue Columbus?

A. The merger valuation was agreed based on the relative share price and market capitalisations of each company using several reference points in time, as described on pages 33 and 36 of the Scheme Documents. The NPV of each party's assets will depend upon a number of assumptions for that NPV to be realised. For example, the NPV for the Saffron appraisal and development project (as set out in Columbus' Corporate and Operational Update dated 27 April 2020) depends on funding for the project of circa US$3m (as set out on page 12 of that update). As such, the share price and market capitalisation of each party is a more appropriate measure of value. The Columbus Board looked at the proposed transaction with a 6 - 12 month horizon. In the event of BPC's drilling success with the Perseverance well, the Board believes the merits of the deal will be self-evident. In the event the Perseverance well result is ambiguous, the Board's view is that by that time the combined business will be better placed than if Columbus didn't undertake the merger.

Shows our BoDs are thinking an ambiguous result at P1 will leave us better placed than if CERP didn't undertake the merger.

What are these guys smokin'?

[eggchaser] 16/7/2020 11:08

Well having read through that I get an undercurrent of confidence in a success at P1.Encouraging that LK oversees SWP etc as I still think he is the man to bring success there.I can also see why some holders don't fancy the risk associated with BPC but clearly there are some including some heavily invested people including some directors are willing to risk all.We shall see....

[12bn] 16/7/2020 10:58

OPEC is to taper oil production cuts leading to an oil price drop according to Bloomberg today.

[jcgswims] 16/7/2020 10:36

Merger Q&A at the bottom of the page

[eggchaser] 16/7/2020 08:48

Yes what I should have said I would have preferred - that said if the merger fails and I recon it's going to be a close run thing then maybe the sent of a distressed company in the same part of the world might peek their interest!

[beggarman] 16/7/2020 08:39

Egg, I think they would be cutting it fine. Isn't it next week we find out if the BPC deal is going ahead?

[eggchaser] 16/7/2020 07:58

nteresting RNS at TRIN this morning - especially this bit;In addition, asset acquisitions and partnerships are another possible source of growth, offering the potential to increase scale, drive economies and thereby improve operating break-evens and cash Igeneration to further enhance shareholder value.Wouldn't it be fab if they made a counter bid for CERP....

[nexus7] 15/7/2020 22:13

Our next partner?


Norway Eager To Boost Domestic Offshore Oil Investment
Anxious and unsure as to when exactly will the COVID-induced recession come to an end, both current and future oil-producing nations have been having quite the hard time to define the ideal path forward in terms of their licensing policy. The easiest solution would be to freeze all planned operations until things get calmer and thus more predictable, although cancelling plans altogether is also an option to consider. Rare are those nations which have turned to improve upstream conditions for investors, especially among those already producing yet Norway’s parliament has recently done just that by voting for a set of fiscal changes to its upstream terms and conditions.

Given that most of Norway’s offshore production takes place in the harsh environment of the North and Barents Seas, its breakeven levels necessitated a more agile reaction from the government’s part to aid the Scandinavian country’s oil industry. Both the ruling Conservative Party and the opposition Labour Party supported the incentivization of short-to-mid term upstream projects so as to avoid an FID pitfall in 2020-2021. The end result is an immediate deduction of capex investment from the 56% special petroleum tax and an uplift of the SPT from 20.8% to 24% - heretofore the uplift duration was spread across 4 years, whilst the capex deduction was rendered immediate instead of the previously stipulated 6 years…

[arrynillson] 15/7/2020 20:48

12bn - you've been a bit quiet lately - has local government in Middlesbrough created a diversionary interest for you enabling you to e-scoot off into the sunset 12bn?

[nexus7] 15/7/2020 16:30

Todays RNS

[eggchaser] 15/7/2020 11:24

See what I did there - lol

[eggchaser] 15/7/2020 11:23

Yes they are 12bn like the WTI price and your view of buys are really sells or sells are really buys and the fact you really are an angry individual with an axe to grind - but in fairness with those losses at KOD, MRS, TOP and many others it's understandable but my job is to balance your temper and frustration - because I like you and I like your style all be it lacking the vital element of, as you put it - facts!

[12bn] 15/7/2020 10:47

Facts are facts,the 1.71p 'buys' are sells the real buys are at 1.75p,MMs like to play games.

[eggchaser] 15/7/2020 10:19

Funny how you change 12bn there was a time you used to post those sells are really buys and let's face it LGO under Ritson was a dog by comparison to today's CERP!

[12bn] 15/7/2020 09:17

It is not a question of affordability in the US like it is in some third world countries,it is a question of how many deaths are each state willing to allow Eggy. Note the 1.7025p trades shown as buys are in fact sells,the real buys are at 1.7475p.

[eggchaser] 15/7/2020 09:03

You recon - but how will the US afford that??? Let alone any other country for that matter?!

[nexus7] 15/7/2020 09:02

Can OPEC+ Still Justify Its Deep Output Cuts?

OPEC+ compliance rose sharply in June, helping to tighten up the market. The improved compliance also boosted confidence and cohesion in the group’s collective effort ahead of a possible loosening of the supply curtailments. Perhaps counterintuitively, that increases the odds that the group increases production beginning in August.
Saudi Arabia praised the efforts of Iraq and Nigeria for their stricter compliance with the production cuts in June, which comes just a few weeks after Riyadh cast blame on the countries for over-producing relative to their commitments, even going as far as threatening a new price war (a threat that most analysts did not interpret as likely).
The “historic cooperation between OPEC Member Countries and non-OPEC countries…have helped the global oil market, and hence the world economy, to overcome recent unprecedented challenges,” OPEC said in its latest Oil Market Report.
Iraq cut production by roughly 450,000 bpd and Nigeria reduced by 88,000 bpd. Saudi Arabia chipped in another 923,000-bpd reduction in June, lowering output to 7.55 mb/d. In June, OPEC produced 22.7 million barrels per day (mb/d). That was the lowest monthly total in decades...

[12bn] 15/7/2020 08:11

12bn - 04 Jun 2020 - 08:43:55 - 4366 of 4783 Lind issued monthly with millions of 4.5p shares SELL at 7,25p! - CERP
2.50p bid 2.70p offer,this looks like the top imo,the pumpers could start being dumpers soon. I feel a TIMBERRRRRRRRRRRRRRRRRRRRrrrrrrrrrrrrrr coming on here.////// Note that there is no 'hindsight' in this post,just accuracy. :)

[12bn] 15/7/2020 07:55

Eggy I would advise you to keep a close eye on oil inventories as well as WTI prices as it looks like the US is going to be forced back into lock-down again,California has already,the PoO will drop dramatically soon enough imo.