Columbus Energy Resources Share Price (CERP)

Share Name Share Symbol Market Type Share ISIN Share Description
Columbus Energy Resources Plc LSE:CERP London Ordinary Share GB00BDGJ2R22 ORD 0.05P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.05 -4.0% 1.20 3,435,759 14:25:08
Bid Price Offer Price High Price Low Price Open Price
1.10 1.30 1.25 1.20 1.25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 7.57 -2.70 -0.45 10
Last Trade Time Trade Type Trade Size Trade Price Currency
16:14:12 O 150,000 1.1365 GBX
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Bp (BP.), Royal Dutch Shell (RDSA), Mosman Oil And Gas (MSMN), Nautilus Marine Services (NAUT)

Columbus Energy Resources (CERP) Latest News

Columbus Energy Resources News

Date Time Source Headline
31/3/202013:00UKREGColumbus Energy Resources PLC Update on Inniss-Trinity CO2 Project
31/3/202011:06UKREGColumbus Energy Resources PLC Second Price Monitoring Extn
31/3/202011:00UKREGColumbus Energy Resources PLC Price Monitoring Extension
31/3/202007:42ALNCFAlliance News Flash Headline
31/3/202007:00UKREGColumbus Energy Resources PLC Operations update - Goudron renewal
17/3/202016:10ALNCColumbus Energy Operations In Trinidad Largely Unaffected By Covid-19
17/3/202007:00UKREGColumbus Energy Resources PLC Corporate Update
03/3/202009:19UKREGColumbus Energy Resources PLC Total Voting Rights
20/2/202007:00UKREGColumbus Energy Resources PLC Director/PDMR Shareholding
17/2/202011:18UKREGColumbus Energy Resources PLC Holding(s) in Company
More Columbus Energy Resources News
Columbus Energy Resources Takeover Rumours

Columbus Energy Resources (CERP) Discussions and Chat

Columbus Energy Resources Forums and Chat

Date Time Title Posts
04/4/202012:51Columbus Energy Resources PLC 10,037
03/4/202020:02Lind issued monthly with millions of 4.5p shares SELL at 7,25p!3,671
30/1/202011:34Cerp 4.5p mid,will it retrace to 2.5p offer?179
30/1/202009:26CERP is a pump n dump share SELL imo205
29/1/201910:10CERP is a serial loser,watch out for more fund raising.409

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Columbus Energy Resources (CERP) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2020-04-03 15:14:131.14150,0001,704.75O
2020-04-03 15:10:021.25159,0001,987.50O
2020-04-03 15:09:291.13250,0002,812.50O
2020-04-03 14:56:471.1412,976147.47O
2020-04-03 14:55:321.1490,0001,022.85O
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Columbus Energy Resources (CERP) Top Chat Posts

DateSubject
04/4/2020
09:20		Columbus Energy Resources Daily Update: Columbus Energy Resources Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker CERP. The last closing price for Columbus Energy Resources was 1.25p.
Columbus Energy Resources Plc has a 4 week average price of 0.92p and a 12 week average price of 0.92p.
The 1 year high share price is 5.10p while the 1 year low share price is currently 0.92p.
There are currently 872,930,628 shares in issue and the average daily traded volume is 1,778,416 shares. The market capitalisation of Columbus Energy Resources Plc is £10,475,167.54.
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13/2/2020
07:09		12bn: RNS Number : 8288C Columbus Energy Resources PLC 13 February 2020 13 February 2020 COLUMBUS ENERGY RESOURCES PLC ("Columbus" or the "Company") Corporate Presentation Issue of Shares and Toting Voting Rights Columbus, the oil and gas producer and explorer focused on onshore Trinidad and Suriname, with the ambition to grow in South America, has made a corporate update available on its website. To view it, please visit www.columbus-erp.com The key highlights are: -- Testing of the Saffron Well in the Lower Cruse started early February 2020 -- Logging results for the Middle Cruse confirm it is a valid secondary target for testing and development -- Prudent cash management - US$3.1m in cash (including US$0.62m in restricted cash) (as at 31 January 2020) Leo Koot, Executive Chairman of Columbus, commented: "The Company is currently testing the Saffron well in Trinidad and will update the market as the testing progresses. Given the time it has taken to drill and test the Saffron well, a number of investors have asked for a corporate update. We are pleased to report that there is no material change to our core strategy of testing and, subject to test results, appraising and developing the Saffron well and its surrounding acreage. Logging results for the Middle Cruse have been interpreted and the Company believes that it confirms the Middle Cruse is a valid secondary target. In the event of negative or inconclusive testing of the Lower Cruse, the Company intends to immediately test the Middle Cruse. The Company expects to be able to produce from the Middle Cruse at commercial rates. We continue to operate our base production in the most efficient manner possible. In the Trinity Inniss field, we continue to work with Predator (our joint venture partner), the Ministry of Energy and Energy Industries and Heritage to move to continuous injection of CO2. In Suriname, we move steadily towards being ready for an Extended Well Test in H2 2020. Management continue to believe in the Company's prospects and a number of the Executive Management team have elected to convert their Executive Salary Options into ordinary shares. We look forward to updating the market on each of these projects as they develop and reach relevant milestones. " Executive Salary Scheme As previously announced, the Company's directors and executive managers ("Executive Management") currently receive 50% of their fees in Company shares (the "Executive Salary Scheme" and "Remuneration Shares"). The Executive Salary Scheme has assisted the Company in both managing its cash and also ensuring Executive Management interests are aligned with the Company's shareholders. The Remuneration Shares take the form of nil cost options, which provided the Company with more flexibility but does not change the number of shares to be issued in any way or provide any additional value to the Executive Management. As at 31 December 2019, the fees to be settled by the issue of Remuneration Shares equated to 36,515,008 shares (equal to approximately 4.3% of the Company's current issued share capital). Remuneration Shares are calculated monthly using a fixed share price therefore the timing of issuance of Remuneration Shares is not relevant to the number of Remuneration Shares issued. The fixed share price has ranged between 3.5p and 5.1p. The Company has received an election from certain Executive Management members (including Mr Koot) to convert their options into ordinary shares of the Company, as is their contractual right pursuant to the Executive Salary Scheme. As such, the Company will issue 15,169,886 new ordinary shares to those Executive Management members (the "Executive Management Shares"), representing 1.8% of the 848,260,742 ordinary shares in issue prior to the issuance of the Executive Management Shares. The Company expects to record the issue price of the shares in its books at the closing share price on the day before issuance. The relevant Executive Management members have stated that they have no intention of selling the Executive Management Shares in the near future. The Company will otherwise continue to operate the Executive Salary Scheme (or the Amended Executive Salary Scheme as announced in September 2019) as circumstances dictate. Prior to today, no ordinary shares related to the Executive Salary Scheme have been issued to (or sold) by any of the Executive Management. The Executive Management Shares will rank pari passu in all respects with the Company's existing ordinary shares. An application will be made for the Executive Management Shares to be admitted to trading on AIM, ("Admission"), and it is expected that Admission will become effective and that dealings will commence on or around 19 February 2020. Contractor Shares The Company continues to employ the Contractor Shares scheme to settle fees otherwise due to various contractors. The Company aims to utilise the Contractor Shares Scheme in a prudent manner, balancing cash management with equity dilution. The relevant services have now been provided and therefore the Company will issue 9,500,000 new ordinary shares to those contractors (the "New Contractor Shares"), representing 1.1% of the 848,260,742 ordinary shares in issue prior to the issuance of the New Contractor Shares. The New Contractor Shares will rank pari passu in all respects with the Company's existing ordinary shares. An application will be made for the New Contractor Shares to be admitted to trading on AIM, ("Admission"), and it is expected that Admission will become effective and that dealings will commence on or around 19 February 2020. Total Voting Rights For the purposes of the Disclosure and Transparency Rules of the Financial Conduct Authority, the Board of Columbus hereby notifies the market of the following: As at the date of this announcement, and after the issuance of the Executive Management Shares and the New Contractor Shares, the Company's issued share capital consists of 872,930,628 ordinary shares with a nominal value of 0.05p each, with voting rights ("Ordinary Shares"). The Company does not hold any Ordinary Shares in Treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights is 872,930,628. This figure may be used by Shareholders in the Company as denominator for the calculations by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules. This announcement is inside information for the purposes of Article 7 of Regulation 596/2014. Qualified Person's statement: The information contained in this document has been reviewed and approved by Stewart Ahmed, Chief Technical Officer (Trinidad), for Columbus Energy Resources plc. Mr Ahmed has a BSc in Mining and Petroleum Engineering and is a member of the Society of Petroleum Engineers. Mr Ahmed has over 33 years of relevant experience in the oil industry. Contact Information Columbus Energy Resources plc Leo Koot / Gordon Stein / Tony Hawkins +44 (0)20 7203 2039 VSA Capital Limited Financial Adviser and Broker Andrew Monk / Andrew Raca +44 (0)20 3005 5000 Beaumont Cornish Limited Nominated Adviser Roland Cornish / Rosalind Hill Abrahams +44 (0)20 7628 3396 Notes to Editors: Columbus Energy Resources Plc is an oil and gas producer and explorer focused on onshore Trinidad and Suriname. In Trinidad, the Columbus Energy group has five producing fields, one appraisal/development project and a highly prospective exploration portfolio in the South West Peninsula ("SWP"), which lies in the extreme southwest of Trinidad and consists of stacked shallow and deep prospects. In Suriname, the Company has recently secured an onshore appraisal/development project. Columbus aims to create transformational growth by developing its portfolio in a capital efficient and disciplined manner. Columbus is guided by the following core values; safe and sustainable, stronger together, creative excellence, positive energy, totally trusted and personally responsible. The Company is led by an experienced Board and senior management team with supportive shareholders and intends on leveraging its expertise and experience to build an attractive and diversified portfolio of assets across South America in order to build an oil production led South American exploration business. To find out more, visit www.columbus-erp.com or follow us on Twitter @Columbus_ERP. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. END
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17/1/2020
06:57		offerman: Hi JP, I think with any big sales yesterday from traders because general volume was low there weren't so many buys. I agree that the 1 million and 2 million were also Schroeder's . Morning CCR,The reason I believe the one and 2 million sales where Schroders is because my volume is really picked up to allow them to match purchases with sales.I think if we had 10 million buys todayI think Schroders would put through some huge sales again. I noticed when there are days when there are a few buys but just smaller ones between 20,000 up to say 100 or 150,000 maybe slightly more when there are a few of these appearing that's when we seem to see the 100 and 200,000 sales. When we say 400,000 upwards then there seems to be a big sale ( imho also Schroeder's) that appears either at the very end of trading or after the bell has rung JP I think the share price would not be so low if Schroders have not been selling. Even though we didn't get the full log results the initial excitement would have prepared the share price higher and it would have stayed there until the logs come out when the share price would have either moved up further on confirmation of flows and good results or if results were poor the share price would've dropped probably back down to where we are now. In my opinion the sole reason we are down at these levels is because of Schroders not the saffron are Ines in my opinion the sole reason we are down at these levels is because of Schroders not the saffron RNS. The RNS was good we just need confirmation of commerciality of the initial findings.
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16/1/2020
19:55		offerman: Nice post Hilly. There are so many different ways to look at all of this. Another way could be although The share price is low right now I believe everyone will win.- The lower the share price then buys are more likely to appear at this level than they are at 3 1/2 or 4p . We have no concrete news so best drop the price when you know you have a large seller. - The Schroders sell-off can only happen when there aren't enough buys mounting up to allow the sales to go through. It's easier to work the big sell order at a lower price for the market makers. - The quicker we can assist Schroders to offload the better for all of us and of course the market makers will also benefit massively because the shares they take as well and hold some will be sold off at much higher levels once news arrives. - if the news is great from the saffron logs I wouldn't put it past one of the big Oiler's as I mentioned a while ago to take a position as well. This could also help take up the slack from shroeders. - don't forget as well that the lower share price that we stay even if there is brilliant news from saffron drill , CO2, WF and Schroders continue selling this will still keep the share price low as any buys just get cancelled out with the Schroders affect.What this will do will make us ripe for a potential hostile bid in my opinion and I do believe because of our location and potential a counter bid would come in as well.So whatever happens as long as saffron is good and hopefully CO2 as well we will win in the end despite Schroders keeping us down.Either buys appear and raise the share price or we stay low and then we will take a ballpark figure take out for us. This won't happen now but the longer we stay down the greater the chances of this happening. I even believe that we could get taken out before the 2 to 3 year target if we get excellent results on saffron and if they clove and get further good results, I know a deep dream was planned the last time that was mentioned was in a 18 to 24 month window and since that time 6 to 8 months has passed. I would need to check the timestamps on the roadmap again from the last PDF but maybe we will drill a deep drill with a partner in the next 12 to 14 months.Let's not forget as well Tony Hawkins will be working away in the background no doubt on potentially further deals perhaps similar to Surinam. Suriname was more down to Leo because of his Dutch heritage and connections through his family to Surinam. But Tony was our ace card with all of the deals he did in Trinidad. So I expect he will be working on more deals as well. Who knows maybe we get into Columbia as well? It's all going to come very good what we really need is an excellent springboard from saffron log results to set us on our way.
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18/12/2019
07:04		12bn: Oh dear.///////Columbus Energy Resources PLC 18 December 2019 18 December 2019 COLUMBUS ENERGY RESOURCES PLC ("Columbus" or the "Company") Second drawdown of US$1.5 million under Medium-Term Funding Agreement Columbus, the oil and gas producer and explorer with operations in Trinidad and Suriname, is pleased to announce the drawdown of an additional US$1.5 million ("Tranche 2") under the Convertible Loan Agreement (the "Agreement") with Lind Global Macro Fund LP an entity managed by The Lind Partners (together "Lind" or the "Funder"). As announced on 11 November 2019, the Company entered into the Agreement to provide access to additional funds, should they be required, to: -- assist with costs arising from the drilling of the Saffron well in Trinidad; -- enable Columbus to fast-track the appraisal and development of the Saffron prospect following any discovery; and -- provide the resources to fast-track planned technical and operational activities on the Weg Naar Zee licence in Suriname, including development of the field following the extended well tests. Further to the announcement of the Company on 12 December 2019, the Company is drilling the Saffron well in the South West Peninsula ("SWP"), Trinidad. The second drawdown under the Agreement is a precautionary measure to ensure the Company can focus on completing the Saffron well in a safe and efficient manner, whilst also enabling the Company to move forward quickly to optimise the potential of any discovery on the Saffron well. The main terms of Tranche 2 are set out below. The Company does not expect to drawdown any further amounts under the Agreement in either 2019 or 2020. Leo Koot, Executive Chairman of Columbus, commented: "The Company is currently drilling the Saffron well. As with any drilling campaign, it is prudent to have sufficient cash resources to complete the well safely and efficiently and without compromising the objectives of the well. Drawing down Tranche 2 under the Agreement allows us to do that and also allows us to monetise it in the event of a successful discovery. I would stress again that the Company remains committed to finding the lowest cost options for appraising and developing its assets and looks forward to updating the market as to the results of the Saffron well in due course." Tranche 2 The main terms Tranche 2 are as follows: -- Repayment over a 24-month period. -- Repayment, at Company's option, either in cash or Company shares (or both). The monthly cash payment for Tranche 2 will be US$74,222 and any shares issued would be at approximately 90% of the then Repayment Price. -- The Funder has the right to convert any loans outstanding into Company shares at a fixed share price equal to 130% of the Company's 20 day VWAP prior to signature of the Agreement (approximately 4.4p) (the "Conversion Price"). -- Company has the right to buy-back the outstanding balances (the "Buy-Back") at any stage during the term of the loan without penalty, although the Funder has the right to convert up to 25% of the Buy-Back into Company shares at the lower of Repayment Price or the Conversion Price. -- No up-front commitment fee or other fees are payable. -- For Tranche 2, the Funder has received 16,861,207 share options, which may be exercised within 60 months at a share price equal to 150% of the 20 day VWAP immediately prior to drawdown. For Tranche 2, the exercise price would be approximately 5.1p). -- The Funder has the right, upon certain terms and conditions being met, to re-invest up to 50% of the Tranche 2 amount on similar terms and conditions. -- No additional Collateral Shares or security other than that already granted under Tranche 1. This announcement is inside information for the purposes of Article 7 of Regulation 596/2014. Contact Information Columbus Energy Resources plc Leo Koot / Gordon Stein / Tony Hawkins +44 (0)20 7203 2039 VSA Capital Limited Financial Adviser and Broker Andrew Monk / Andrew Raca +44 (0)20 3005 5000 Beaumont Cornish Limited Nominated Adviser Roland Cornish / Rosalind Hill Abrahams +44 (0)20 7628 3396 Celicourt Communications Public and Investor Relations +44 (0) 20 8434 Mark Antelme / Jimmy Lea 2643 Notes to Editors: Columbus Energy Resources Plc is an oil and gas producer and explorer focused on onshore Trinidad and Suriname. In Trinidad, the Columbus Energy group has five producing fields, one appraisal/development project and a highly prospective exploration portfolio in the South West Peninsula ("SWP"), which lies in the extreme southwest of Trinidad and consists of stacked shallow and deep prospects. In Suriname, the Company has recently secured an onshore appraisal/development project. Columbus aims to create transformational growth by developing its portfolio in a capital efficient and disciplined manner. Columbus is guided by the following core values; safe and sustainable, stronger together, creative excellence, positive energy, totally trusted and personally responsible. The Company is led by an experienced Board and senior management team with supportive shareholders and intends on leveraging its expertise and experience to build an attractive and diversified portfolio of assets across South America in order to build an oil production led South American exploration business. To find out more, visit www.columbus-erp.com or follow us on Twitter @Columbus_ERP. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. END
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17/12/2019
10:49		offerman: Morning TG, It could be that a new person has taken over the Schroeders investment account so the original purchased of CERP shares is no longer in charge. So if he/ she has their own ideas about a bargain elsewhere and doesn't know the history of CERP and only looked at the share price graph then they may be wanting out to invest elsewhere. Because it's not their own money they are far likely to care less such as managers at Equitable Life. It could be orders from higher up in Schroeders to bail out or top slice. That's if indeed it is Schroeders selling which I suspect it is. It does seem crazy to me though even if it is them I'd be holding all the shares not selling after the Saffron update . Who knows , it could even be they fell out with LK or other management ? Maybe they didn't and have just had enough of waiting. They could be just derisking and selling off all the 65 or so million shares they bought at 2p turning in a nice 50% profit . I don't think it's Pi unless stressed holders needing the cash. I know of one from LSE who had bad luck and had to bail out.so what we have at the moment is a pretty rare situation in that we have positive news so far yet the share price has been drifting lower for quite some time with tiny spikes only to drop down again creating a huge overhang. The reason for the very low share price currently is this in my opinion:The MMS have known for some time and been given an instruction to off load a massive amount of shares. They can't just sell all of them in one go they need people to buy in order to help Schroders off load. I have seen this happen before when a large sale order is placed the market makers take the share price lower despite the fundamentals and the fact of we should be higher but it's down purely to the seller. I have seen it before that when the seller had announced they had finished or were out the share price spiked on virtually no news or buys.The market makers are taking the share price low because when Schroders announced they are stopping all finished then the market makers will raise the price selling the shares back on especially on good news and will be making vast amounts of money.We will go much higher than where we are especially on even more good saffron news. We need details though of extraction rates stability API so further testing confirmation to make it bookable. Once we have this in the bag we will attract new investors and no doubt show this will continue selling but there should be a bit more balance between many more buys starting to appear which should help to offload the selling pressure from Schroders.We have CO2 coming up as well, we have further production increases coming from across the steel drum assets acquisition. Then there will be South America.We have many catalysts and of course saffron be in the very very near term which I think will be very good and spark interest in the SWP.Who knows we may even hit our target within 2 1/2 years if saffron shows good results on all three zones. Then bodes well for the rest of the identifications and also derisks other near term drills. Management I've done a fantastic job to get us to where we are now considering what they came into. I believe they will continue and do a brilliant job despite Schroders selling for whatever reasons they have. Once the hangover can be cleared and they stop then everyone else's hangover should clear to a better feeling head and a higher share price Thank you Kaz for your kind words.
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11/11/2019
08:30		12bn: Death spiral funding!!!!!RNS Number : 9333S Columbus Energy Resources PLC 11 November 2019 11 November 2019 COLUMBUS ENERGY RESOURCES PLC ("Columbus" or the "Company") Medium-Term Funding Agreement of up to US$4.5 million Columbus, the oil and gas producer and explorer with operations in Trinidad and Suriname, is pleased to announce that it has agreed to terms for a new Convertible Loan Agreement (the "Agreement") with Lind Global Macro Fund LP an entity managed by The Lind Partners (together "Lind" or the "Funder") to provide access to additional funds, should they be required, to: -- assist with any un-planned additional costs arising from the drilling of the Saffron well in Trinidad; -- enable Columbus to fast-track the appraisal and development of the Saffron prospect following any discovery; and -- provide the resources to fast-track planned technical and operational activities on the Weg Naar Zee licence in Suriname, including development of the field following the extended well tests. The Agreement provides Columbus with access to a medium-term funding (the "Funding") which is available for drawdown in three separate tranches, the first US$1.5 million tranche being drawn-down immediately with two further US$1.5 million tranches being available for drawdown in future, subject to certain conditions as detailed below. The Agreement effectively replaces the facility entered into in 2016 under which Columbus has recently made the final repayment of amounts drawn-down in December 2016 and October 2017. The Company has made total repayments to the Funder under the previous facility of approximately US$3.2 million since January 2017. Apart from two exceptions (set out below), all monthly payments were made in cash. Leo Koot, Executive Chairman of Columbus, commented: "The Company is currently drilling the Saffron well, with operations and costs in line with our previous expectations. As with any drilling campaign, it is prudent to have sufficient cash resources to complete the well if the Company encounters unexpected operational delays or unexpected hazards. In addition, Columbus wishes to have the financial flexibility to enable us to move forward with the appraisal and development of a Saffron discovery and speed up our plans in Suriname to unlock the potential of the Weg Naar Zee opportunity we recently announced. The Funding provides the Company with that flexibility and also provides a "financial insurance policy" for the Company going forward. The Company's past experience with Lind, who have provided similar facilities in 2016 and 2018, gives us comfort that the Funding is the right way to provide the working capital should it be needed to cover unexpected costs and will also enable Columbus to progress our plans faster than might otherwise be the case, should this make good business sense in 2020 and beyond. The Company believes that the Funding is value accretive for our shareholders as it minimises equity dilution whilst providing financial flexibility at minimal cost. I am delighted to be able to continue our excellent relationship with Lind who have proved to be a very supportive partner for Columbus over the past few years. We have not yet decided whether we will draw upon the second and third tranches which are available to us and will keep the market informed of our plans as we progress into 2020. I would stress that the Company remains committed to finding the lowest cost options for appraising and developing its assets and will judge any further drawdown under the Agreement against other options at the time." The Agreement: The main terms of the Agreement are as follows: -- A total of US$4.5 million available to the Company to drawdown. -- US$1.5 million drawn down on signature of the Agreement, with the money received by the Company within 10 business days ("Tranche 1"). -- Right to drawdown an additional US$1.5 million at any time, provided the Company's market capitalisation is above US$25 million ("Tranche 2"). -- Right to drawdown an additional US$1.5 million provided: (i) the Company's market capitalisation is above US$25 million (currently approximately US$40 million); and (ii) the outstanding borrowing from Tranche 1 and Tranche 2 is less than US$2 million ("Tranche 3"). -- The following terms and conditions apply: -- Tranche 1: -- 120-day repayment free window before repayment of the loan commences over a 20-month period. -- Repayments, at Company's option, either in cash or Company shares (or both). The monthly cash payment would be US$89,066 and any shares issued would be at approximately 90% of the then current 20-day VWAP (the "Repayment Price"). -- Tranches 2 & 3: -- Repayment of each tranche to be over a 24-month period. -- Repayments, at Company's option, either in cash or Company shares (or both). The monthly cash payment for each Tranche (if drawn) would be US$74,222 and any shares issued would be at approximately 90% of the then Repayment Price. -- For all three tranches: -- The Funder has the right to convert any loans outstanding into Company shares at a fixed share price equal to 130% of the Company's 20 day VWAP prior to signature of the Agreement (approximately 5.1p) (the "Conversion Price"). -- Company has the right to buy-back the outstanding balances (the "Buy-Back") at any stage during the term of the loan without penalty, although the Funder has the right to convert up to 25% of the Buy-Back into Company shares at the lower of Repayment Price or the Conversion Price. -- Company has paid an up-front commitment fee of US$105,000 for Tranche 1 and Tranche 2. If the Company draws down on Tranche 3, a fee of US$52,500 will be payable. Apart from legal fees incurred to establish the Agreement, no other fees are payable. -- For Tranche 1, the Funder has received 14,625,000 share options, which may be exercised within 60 months at a share price equal to 150% of the 20 day VWAP immediately prior to drawdown. For Tranche 1, the exercise price is 6.0p. For Tranche 2 and Tranche 3, additional options on similar terms and conditions would apply upon any drawdown. -- The Funder has the right, upon certain terms and conditions being met, to re-invest up to 50% of the Tranche 1 amount (and, if drawn down, the Tranche 2 amount) on similar terms and conditions. -- The amounts drawn-down are secured against 7,500,000 shares in the Company ("Collateral Shares") and will rank as senior secured debt against the assets of Columbus (subject to existing security). The Collateral Shares will be issued simultaneous with the receipt of Tranche 1 by the Company, for which a further announcement will be made in due course. The Funder will pay par value for the Collateral Shares and if the Funder calls upon the Collateral Shares it shall pay the Company the then current market price of the Collateral Shares called minus the par value previously paid. Background: Columbus has recently made the final repayment under the previous agreement with Lind of the amounts drawn-down in December 2016 and October 2017. The Company made total repayments under the previous agreement of approximately US$3.2 million since January 2017. All monthly payments were made in cash, apart from two exceptions (in September and November 2017 when the Funder chose to convert US$150,000 and US$300,000 into shares at 3.0p and 4.5p respectively). Lind and Columbus have established an excellent working relationship over the past three years and Lind was keen to provide the Agreement which will provide Columbus with the flexibility to progress its plans in Trinidad and Suriname in 2020 at a faster pace than might otherwise be the case using operational cashflows. This announcement is inside information for the purposes of Article 7 of Regulation 596/2014. Contact Information Columbus Energy Resources plc Leo Koot / Gordon Stein +44 (0)20 7203 2039 VSA Capital Limited Financial Adviser and Broker Andrew Monk / Andrew Raca +44 (0)20 3005 5000 Beaumont Cornish Limited Nominated Adviser Roland Cornish / Rosalind Hill Abrahams +44 (0)20 7628 3396 Celicourt Communications Public and Investor Relations +44 (0) 20 8434 Mark Antelme / Jimmy Lea 2643 Notes to Editors: Columbus Energy Resources Plc is an oil and gas producer and explorer focused on onshore Trinidad and Suriname. In Trinidad, the Columbus Energy group has five producing fields, one appraisal/development project and a highly prospective exploration portfolio in the South West Peninsula ("SWP"), which lies in the extreme southwest of Trinidad and consists of stacked shallow and deep prospects. In Suriname, the Company has recently secured an onshore appraisal/development project. Columbus is operationally cashflow positive and aims to create transformational growth by developing its portfolio in a capital efficient and disciplined manner. Columbus is guided by the following core values; safe and sustainable, stronger together, creative excellence, positive energy, totally trusted and personally responsible. The Company is led by an experienced Board and senior management team with supportive shareholders and intends on leveraging its expertise and experience to build an attractive and diversified portfolio of assets across South America in order to build an oil production led South American exploration business. To find out more, visit www.columbus-erp.com or follow us on Twitter @Columbus_ERP. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. END
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07/6/2019
12:00		rossannan: offerman You say that there is lots of news to come. I think you need to stop listening to Edgein’s rosy scenarios and think about the financial and other realities here, something which Edgein is, I suspect, keen for you to avoid doing. This is not to say that CERP will not catch another wave of sentiment - it could, and this could drive the share price significantly higher (as with the misplaced anticipation of the Q1 update). If this does happen though, recognise it for what it is and consider some kind of de-risk. This is how I see the realities here: -PRD potential 4.1 to CERP if good results from CO2 How likely are good results? The SWP aside, does the CERP portfolio not look like a bunch of old and tired fields that are beyond rejuvenation, whether by CO2 or by waterflood (I will come back to waterflood). And in the (I would argue unlikely) event that something comes of the CO2 experiment, where are PRD going to get that kind of money from? Have you had a look at their finances or share price chart recently? - Upcoming AGM I think will be informative too You set a lot of store by Leo Koot. You need to take a step back and look at the things that he has said while in share promotion mode and how they subsequently panned out. Whatever he says at the AGM should be taken with a large pinch of salt, IMO. - possible M&A shortly too as we won the tender a little while ago so sign off should be soon pending any drastic changes . Yes, it is clear from the Q1 update that taking on this new concession will see CERP taking on significant MWOs. How on earth is CERP going to finance these in a shareholder friendly way in this market? - SWP start date . Can you not see how drastically CERP has had to water down its ambitions for the SWP as a result of failing to keep its powder dry for deployment on its one genuinely interesting asset? - update on SD infills rejuvenation's as Better IPSC there than Goudron. Seriously, how good a deal does Steeldrum look now, nearly one year on? I would be very skeptical about what LK can squeeze out of those assets - they have been incredibly disappointing so far. - update on 2nd injector WF If you track all the references to Goudron WF in CERP RNSs I challenge you to come to any conclusion other than that it hasn’t worked and isn’t going to work. - update on the four applications. See above.
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01/6/2019
15:43		rossannan: offerman And there is Edgein quoting LK at you: the potential for offshore flow rates onshore Beware of rampers - they love a good soundbite. In the real world, there are hard questions to answer: how deep would CERP have to go onshore to have even a shot at those kind of flow rates and what are the chances of cash-strapped CERP being able to afford that kind of exploration in the short, or at this rate even medium, term? Edgein comes across to me as a ramper and, frankly, LK is increasingly coming across as one too. Please stop listening to the people who just tell you what you want to hear without offering any real balance and consider the merits of even a modest derisk if the opportunity arises. After that last update I am no longer entirely convinced that there is a floor under the CERP share price. This could go sub-2p. If you have recent purchases that are in profit or that may be in profit at some point in the near future once the usual suspects start talking up the concession announcement and/or the next update, consider the merits of reversing them. This is not a basket to have too many of your eggs in.
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25/2/2019
09:40		rossannan: The lesson that NR taught, which sadly seems appropriate for dealing with his successor, is to assume that anything an AIM oiler CEO says outwith an RNS (and sometimes in an RNS) should be treated as being no more than aspirational, at least until figures emerge which demonstrate that it has a firmer foundation. The CERP share price chart and continuing share price weakness confirm this. Time for LK to stop painting rosy scenarios and come clean about how he is really going to fund the SWP - that exercise could mark a real turning point here.
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09/1/2019
10:14		jcgswims: From VSA https://www.proactiveinvestors.co.uk/columns/vsa-capital-market-movers/30452/vsa-capital-market-movers---colombus-energy-resources-30452.html Columbus Energy Resources (LON:CERP) Columbus Energy Resources (CERP LN) reported Q4 2018 production averaging 670bopd resulting in full year average production of 615bopd in 2018 which was up 67% YoY and ahead of our full year estimate of 600bopd despite the impact of severe weather and record rainfall in Q4 2018. Quarterly production was 9% lower QoQ as moving workover rigs and routine operations were prevented by flooding which made roads impassable in Trinidad. Gross revenues of US$3.23m were down 16% QoQ owing to lower production and lower oil prices which averaged 5% lower QoQ at US$57.58/bbl. That said, CERP achieved its year end target of 1,000bopd with peak production of 1,021bopd in the quarter. This included the initial production from the Snowcap 1 & 2 wells which achieved 70bopd after three years of shut in status. CERP had guided to an expected 100bfpd with part of the appraisal intended to assess the volumes of water production. After a successful appraisal we now expect pumped production to commence at Cory Moruga. We expect CERP production to bounce back from the impact of severe weather in Q1 2019 and workovers are continuing to progress across the operating fields, indeed the second pilot injection well at Goudron is ready for conversion to water injection in Q1 2019. CERP has guided that average production is likely to remain within the recent peak level in the near term which is line with our current expectations. This unseasonably severe weather does in fact demonstrate clearly the importance of CERP’s acquisitions through 2018, at attractive valuations, which have diversified the operating base to six operating fields. With a reduced reliance on Goudron the company is better placed to withstand one-off shocks such as this while the investment made in operating infrastructure such as backup generators has meant that production was able to continue despite a temporary loss of grid power. Indeed, despite the reduction in output CERP continued to generate positive operational cashflow from its Trinidad operations of US$0.37m (US$0.54m in Q3 2018) which is a strong positive, in our view, and a clear demonstration of the company’s capital discipline and more robust asset base. Cash at year end 2018 of US$2.6m (£1.7m) was broadly in line with our estimate of £1.5m while gross debt was further reduced to US$0.4m. This includes the net impact of the £2.5m fundraise in Q4 and repayment of the US$1.25m loan associated with the Steeldrum acquisition. This leaves CERP well placed to continue the optimisation of the six operating fields as well as make preparations for the major catalyst for the shares in 2019; exploration of the SWP. Based on our forecasts, CERP is fully funded for planned operations and drilling at SWP represents a potentially transformational event for the company given the estimated prospective resources of 1.3Bboe. In addition, CERP is the operator of the Innis Trinity field and the current work programme is funded by Predator Oil and Gas (PRD LN) through a farm in agreement. Workovers in the quarter continued to make progress although CO2 injection has not yet commenced with the submission of the Certificate of Environmental Compliance completed in Q4 2018. Recent share price performance has been soft and while we believe a combination of broad-based equity market volatility and a reduction in WTI oil prices have exacerbated the weakness the progress that management has made operationally and financially was not fairly reflected in the share price performance in 2018. A 67% YoY increase in production is an impressive and significant achievement and we expect continued progress in 2019. Although this was lower than originally anticipated at the start of the year and legacy costs associated with Spain have hampered financial performance we continue to forecast a reduction in the net loss from £5m to £3.4m in 2018 and a return to profit in 2019 demonstrating that the operational improvements are having a meaningful and tangible positive impact on the group financials. We believe that at the current share price CERP’s production potential, exploration upside and capital discipline is simply not reflected and continue to see significant upside potential. We reiterate our Buy recommendation and 21.4p target price.
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