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rossannan , a new project needs working capital too so you would still be none the wiser . But yes , AIM companies have been known to raise cash for a new project when what they really needed was working capital for the existing business . David Lenigas is a past master of this trick and has on occasion brazenly abandoned the "new project" after raising cash for it .
Fortunately , we don 't play to the Lenigas rulebook any more .
Dross - you are still running this Company like Fantasy Oil & Gas Manager game - you don't have the info management have so can't be confident in your advice.
You can, however, say I'm not confident about CERP I'll buy say TXP instead ( even if you are more than 15% down there in just 2 days! ) - people do that all the time and either better or worsen their wealth - most don't stick around afterwards like a Klingon from last night's curry!
Ross and crew banging their drum on here morning, noon and night....#obviousagenda What a waste of a life, be happy people it’s almost the weekend;))
There is nothing that my sceptical comments can do to affect the outcome here, but there is plenty that Leo Koot could do. Why don’t you channel your frustration into giving his cage a good rattle? There is more potential for concerted and coordinated PI action here than in just about any other share that I can think of.
“for something else”
Not entirely though - I suspect that some of it will be for “working capital”, an admission that the scheduled programme wasn’t fully funded after all.
U best pray you don’t ever cross my path Ross. I’ve had it with you ****ing on my plate...you’re a snake !!!
Dross - I doubt faz does - he probably has your mug on the dartboard as you are the one that continually attempts to undermine the company with Joseph Goebbels style propaganda based often on absolutely ridiculous ideas including Koot was lying about the impact of flooding in Trinidad, not to mention the stunt requiring readers to pay for you not to post here - who else does that ?????
rossannan , you may choose to categorise an unequivocal , post year end statement in the annual report that the company is fully funded for its scheduled 2019 work programme as " throwaway " but it is a matter of record in a financial filing and therefore doesn 't qualify as a throwaway .
That doesn't 't mean that there won't be a fundraising event in the coming weeks / months for something else of course .
Do you never get annoyed at Leo Koot?
M&A South America news imminent
Always worth repeating this to keep it visible. It's very useful, particularly for any newbies that find themselves here.
Within the next 2-3 months or so....
1. M&A - S. America
2. The big one - SOUTH WEST PENINSULA - Clove and Saffron funded drills to be transformative for CERP should they be successful from all the work has been made in prospecting the spots to drill.... Highly Likely!
3. Co2 - Inness Trinity and prospect of picking up 4.2m by Dec. If successful (6 months plus)
I have become increasingly wary of Leo Koot’s throwaway remarks - I would rather have the figures and make my own mind up about what works and doesn’t work for CERP. So I will have to wait for the interims. Saying that, if my reading of the information that we do have is correct, I expect all this to come to a head before then.
£500m Mcap is the target for CERP ..news to come very soon...
now before you deramper trolls start replying to me don’t bother...
P.S.. I hope all you serial derampers fall into a big 6ft pile of dinosaur $hit on your way home !!!
rossannan , given the vagaries of the Special Petroleum Tax , I doubt that higher oil prices will have had a big impact on cash generation . When there are no opex offsets to take into account , LK has said that Columbus trousers the same amount of cash whether the oil price is $50 or $61 ; and WTI has been below $61 since mid-May -- and not much above $61 prior to that in Q2 . But yes , it should have helped -- but not a lot .
LK will be sharing the end Q2 cash balance with us .. in the interims . That 's just the way it is now . I also liked the quarterly updates but they must have been time-consuming to produce -- especially in a period when management is heavily into its new assets and acquisitions so I feel they are sacrificed to the greater good . I 'm not sure I fully subscribe to the official reason for their demise . especially with a drill coming up which will give pumpers and dumpers plenty of opportunity to make hay .
I'm in line with our "Koot" and yours.............!
Don't forget Boss Ross doesn't like like predictions........! well when he was invested, that is................ :()
All the best (if you want a promotion Irene, go for it is my finkin :()
Cheesie, so what is your current Goudron figure.
if you don't know just say so, and save yourself all the fluffery
From 15:18 to 17:59...........!
me math is that good that it took ~2 hrs for either you to get that, or to be told that .........!
Either way, you guys are really slaking now.............!
All the best (is that not double from Ritson ............?)
plus the horizon...........!
Cheesie "Close to 1000 bopd." , for goudron !
ha ha Cmon cheesie, 1000 bpd, even though the last RNS stated total "Average production of 602 barrels of oil per day ("bopd") in Q1 2019" and that included steeldrum production.
( mathematics (and reality) not cheesies strong points tonight)
So we have lower production in Q2 but similar income (not, of course, the same as profit). The oil price would seem to be the obvious explanation. But maybe, as you suggest, “high grading” made some real inroads into Q2 expenditure. If that is the case, the end Q2 cash balance will reflect that good news.
Ask Leo Koot why he is not sharing the end Q2 cash balance with you.
IreneKrapp, Goudron was generating cash and possibly still is but that doesn't mean that all barrels were profitable . The marginal/unprofitable barrels have therefore been dropped with no adverse impact on cash generation but freeing up opex and manpower to devote to more prospective assets . To quote LK from the annual report:
" The acquisition of Steeldrum, which brought three new assets, as well as the transaction to take full ownership and operatorship of Icacos, has provided Columbus with a far broader production base to play with going forward. Deciding where we can best achieve "bang for our buck" is now a key part of our day to day operational decision-making processes and we no longer need to rely on Goudron as being our main source of revenue. "
Seems simple enough to me . What would a gold miner do if faced with a choice of mining high or low grade ore ?
You are the clever one LLL..........!
so give you that one, but I've reported it also.............. :()
On the front page........... yep, during our, more than pleasant, chat............. bang out of order.!
All the best (look after yourself, times passing :)
Chesh - perhaps while you are reporting Irene for mentioning other stocks on the CERP board, you could also report LSE to themselves for doeing the same on their share price page for CERP.
I quote :
Users who watch CERP also watch: Uk Oil & Gas, Solo Oil, Sirius Minerals, 88 Energy, Aminex, Lloyds, Sound Energy, Hurricane Energ, Greatland, Xtract
Users who hold CERP also hold: Range Resources, Uk Oil & Gas, Xtract, Solo Oil, Alba Mineral Resources, Angus Energy, Sirius Minerals, Rockhopper, Arc Minerals, SolGold
Close to 1000 bopd..........!
and I've just reported you.............. again :()
All the best (I'm not a tease Irene, you for-fill that roll :)
cheesy, you are such a tease. What about number 1 then , current Goudron production
All the best ( tullow, txp, eco, not to mention hurricane)
Just for you babe........!
Average production from Trinidad in Q2 2017 was 327 BOPD
All the best (Water, co2, SWP, not to mention SA M&A :()
sugar "stop chasing marginal/unprofitable barrels in Q2"
But I thought Goudron was profitable, you know cash flow positive at an operational, adjusted, day to day, underlying level and all that