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
  0.00 0.0% 1.825 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 7.57 -2.70 -0.45 17
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 1.825 GBX

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Posted at 09/2/2023 08:20 by 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 1.83p.
Columbus Energy Resources Plc has a 4 week average price of 0p and a 12 week average price of 0p.
The 1 year high share price is 0p while the 1 year low share price is currently 0p.
There are currently 918,014,741 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Columbus Energy Resources Plc is £16,753,769.02.
Posted at 05/8/2020 15:30 by eggchaser
A rather good post on Lse board I thought!!CERP’s merger market cap value in June 2020 was £25.1m including a premium uplift. In October 2019 when the share price was 5.1p its market cap was c£50m. in 2019/2020 analysts predicted a potential share price of 21p (and market cap of c£200m) assuming various factors proved favourable. LGO-fan’s informative posts on this BB 29/7/20 describes what these could be in the short/medium term. When the markets closed Friday, CERP’s market cap was £17m.Thought experiment logic-flow (all figures approximate, sources already stated in my previous posts since June 12):1. Post-merger this week, there will be c3.4b shares in play. Imagine BPC has no assets, there are no Bahamas licenses and no spud, however there are still 3.4b shares vs 1b CERP ones today. This would mean the market cap, purely based on CERP would be in the same potential range as shown in the above introduction: £17m - £25.1m â€" £50m â€" £200m.2. With 3.4b issued shares this would value the possible share price in the above 4 benchmark figures at approx 0.5p, 0.75p, 1.5p, or 6p WITHOUT any BPC assets, potential assets, and BPC’s DEBT FREE $11m it has in the bank today.3. When the markets closed Friday, BPC’s share price was 2.45p and had a market cap of £61m (without CERP). In February 2020 it has a share price high of 5.7p and a market cap of £121m (without CERP). Leading to spud, analysts predicted a potential share price of 8p and market cap of [£170m] (without CERP).When we officially merge this week, let’s assume the combined share price is as now 2.45p and a combined market cap of 83m (3.4b shares). This means CERP’s value which accounts for approx 25% of future news-flow and revenue generating assets is approx. 25% of 2.45p. When split, this is a measly 0.6p and BPC’s an even more measly 1.85p. For goodness sake, despite CLNs and a rights issue creating some dilution, BPC share price was often at 2p for years without a glimmer of news! [And without the $11m we currently have in the bank!!]Bottom line: I don’t think the markets, retail investors and rather unusually even day traders have realised that the share price today is way, way, way below the short and medium term potential of the merged organization. And that doesn’t even take into account the benefits the merger WILL bring such as leveraging finance to drill Persv-1 and potentially increasing production/revenue from CERP assets. All IMHO. DYOR.Starchild
Posted at 25/7/2020 09:18 by beggarman
When this merger is completed I expect the share price to be in the following region:

Value of the new entity £100m.

No. of BPC shares currently in circulation 2.484 Bn
No. of CERP shares currently in circulation 935m
Conversion of CERP shares to BPC shares 935m x 0.803 = 748m

No. of BPC shares in circulation after merger 3.232 Bn

Estimated BPC share price after merger £100m/3.232 Bn = 3p.

Is this a fair assessment or have I missed something?

Posted at 09/7/2020 10:02 by 12bn
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.


Posted at 02/7/2020 20:03 by eggchaser
Offer - welcome back - I trust all is well with the family and your good self - that's the most important thing.

I agree with JCG and feel the Goudron IPSC deal has been delayed for max impact post merger. I wonder if there is news on the deep rights at Goudron too? Anyway I cant blame them as timing is everything, regardless of AIM rules there is always a work around and it could be legit. Personally, Id rather see my new shares in the enlarged company begin to rise as it would appear the share price here now is irrelevant with Schroders and Lind offloading.... although Schroders appear to have backed off of late? Notice how BPC share price is remaining steady?

Offerman I can see your point of view when you speak of valuations however another way to look at it is a valuation is only relevant if something is sold - as we are being merged surely our valuation is therefore dictated by the success of the new company and the point at which either you sell or the company is bought? Imagine the smiles if P1 hits and we get further success at Saffron and a significant Suriname update as well as positive news on the Goudorn IPSC? I note that no one is talking much about Uruguay? The main thing is we still have all the old projects post merger meaning we are still invested into their anticipated success as well as P1 now and Uruguay. I agree the risk is increased and some may not have the appetite for this however we are not clear what the risks were had we of stayed as we were and tried to go alone?

I mentioned the large buys the other day and it appears that someone has cottoned on to buying shares here to see them increase quite a bit when/if the merger takes place as its dictated by the BPC share price on the day if I am not mistaken.

Just remember that LK and other CERP management will have shares in the new company and its also in their interest to ensure they deliver for us one and all.

Carp nice to see some positivity once more and a good find that. Just shows how people can process information two ways. That post squares a big 10BN share question up despite how some will try to manipulate it.

Posted at 02/7/2020 16:47 by 12bn
Subject to the assumptions set out in the Announcement, Columbus shareholders and related parties will in aggregate hold approximately 23.9 per cent. of the enlarged issued share capital of BPC.////////// So 76.1% of all earnings will go to BPC share holders and only 23.9% to Cerp current share holders. So if Saffron B is drilled the driller will take their cut and then the remainder will be shared between BPC and CERP shareholders, who will be shareholders of a single combined entity. If after the driller takes their pound of flesh there is say $10 a barrel left for Cerp, under the merger deal Cerp shareholders will get $2.39c. If the SWP is drilled the same thing happens,after drilling costs the profits will be shared $7.61 to BPC holders and $2.39 to Cerp holders instead of $10 to Cerp. What do current shareholders in Cerp get for these generous gifts? A right to share in the costs and profits of the Bahamas drill,which I don't think will happen and nothing much else. BHP has $9m cash but Cerp don't get the benefits of this. Even if it ends up getting invested in the SWP of Trinidad BPC shareholders gain 76.1% of any benefits,whereas if Cerp didn't do the merger but raised cash elsewhere, they could keep 100% of profits not 23.9%!!!! Do I think that this merger will work out well for Cerp holders,NO, but they are between a rock and a hard place as imo CERP are pretty much skint.
Posted at 30/6/2020 08:54 by 12bn
Eggy,are you starting a war with me on the BPC thread,not wise of you imo.///////EggChaser29 Jun '20 - 17:21 - 41193 of 41208
0 1 0
So you are posting here too now 12bn? You are a busy boy!
As I said over on our threads with PRD likely to hand CERP for the 100% ownership of the Co2 project $4.2 mill and add to that the current production from Goudron keeping the lights on oh and the small matter of Saffron producing with the second FUNDED drill at Saffron due soon makes me wonder
why you have failed to mention this to readers? No mention of the results from the other structures found at Saffron or the mention of the cash CERP have in the bank? No mention of the work on going in Suriname or even any mention of the Clove drill that had an even better COS than Saffron?

Do you have an agenda here too in conjunction with your mission on the CERP threads 12bn!?

Are readers aware of your failures at MRS and TOOP not to mention KOD along with many others, or the predictions that WTI was heading south when it reached $22 and the notion that CERP share price would dive to 1p?

Naughty boy!!! Lol//////// Adding a LOL to the end of an unprovoked attack on me on the BPC thread changes nothing to the post. I said I would treat your posts with respect if you did the same,I guess that you forgot.

Posted at 30/6/2020 06:56 by arrynillson
BigSi2 - I knew 12bn would be impressed with your arguments - he thrives on unsubstantiated poorly researched tosh but surprisingly the point about LIND selling is fair comment - CERP have stated that it's their policy to pay in shares for the time being, whilst cash is being conserved. Whether Schroders will continue selling now that an alternative exit strategy is available, at a higher price, remains to be seen ( even 12bn concedes that crashing the share price to sell wasn't in their interests!).

If CERP had no potential I could see the danger of regular selling by LIND but 12bn doesn't seem able to understand CERP potential- ( for example, only recently, he was in denial for weeks over the Saffron drill findings and lost out on a 100% share price profit opportunity!). Regular followers of CERP understand the potential from Saffron, PRD/ Trinity Inniss, Goudron new deal/ EOR, Suriname Et Al!

12bn CERP aren't bringing significant cash to the deal, having regard to debt, but they are bringing lots of potential which can be developed with BPC cash if PV1 is delayed - would using that to drill SWP be such a terrible thing 12bn?

Posted at 29/6/2020 07:52 by arrynillson
12bn - you clearly have great difficulty with those joining the dot exercises - in case you've forgotten BPC have made an offer for CERP ( in the knowledge that LIND repayments will be made in shares ) so those people believing it will proceed ( including CERP BOD ) know there is now a relationship between CERP share price and BPC share price - I'm not surprised that passed you by 12bn but you are plumbing new depths of ignorance 12bn!
Posted at 27/6/2020 13:59 by arrynillson
12bn - I can't remind you of any transactions I may have made in CERP shares because I don't publish details on public boards - that's why morons like you get frustrated and fabricate my history. People like you can't resist bragging about share purchases in a desperate attempt to influence others to buy - however when the market drops like a stone like TOOP and MRS you are left highly embarrassed.

With CERP you claim no financial interest so it's difficult to understand the gloating when the share price retreats and the uncomfortable silences when the share price is in the ascendancy - I don't even think you know why you do it 12bn - especially as you have so much difficulty understanding CERP RNS let alone BPC!

Egg has understood the issue - why will Bahamanian investors be any more likely to sell than any other investor, BPC is a high risk share - if the drill is successful the share price is likely to go through the roof but as well as high risk there is high cost and they are looking for a partner - partnering will mean sharing profits but if they hit the jackpot there will be plenty to go around so if there is more Bahamanian investment ( as is provided for in setting up the scheme - read the rns 12bn!) I say bring it on the share price reflects the risk - shareholder money reduces funds needing to be borrowed - although the Bahamanian 35m plus shares aren't significant in the big picture and I'm only debating the point to tease you for your sloppy trolling 12bn!

BTW 12bn the chapter on dilution in Shorting For Dummies refers to offers below the share price - like Placings - the Bahamanians buy at the then current share price - have you something against them doing that 12bn?

Posted at 23/6/2020 19:45 by eggchaser
Spangle you are right in some respects but I disagree too - first the company is not being sold and the share price is not set - so if the BPC share price heads north, before the merger, we benefit from the rise at a discount to their share price on the day or have I got it wrong?

In my view LK has done well and whilst the share price maybe static today it could still go up or down tomorrow, so I don’t buy that he has achieved nothing as investing is surly about a compelling story, buying into it and then the delivery of the book? To read just over half of it and then try to review it is not possible or fair in my view?
One thing LK has given is hope and a sizeable discovery at Saffron as well as an entry into Suriname plus a chance with other projects. I remember that lost drill too and it was terrible, but in LK I think we have someone who knows what he is doing and needs time to deliver something it appears Schroders dont have the luxury of and to be fair is one of if not the main reason the share price bumbles around at 2p? Had they of not been divesting then imagine where we would be now?

For me I judge on the delivery of the 5 year plan and as they saying goes you can judge a summer with the sight of one swallow so until the thermometer hits 30 degrees Ill pass judgement!

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