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In this POO-environment: I would think so; they’d mad not to. Pretty sure the $4.2mn wasn’t at a WTI of $20(ish). Tbh, even if they get half, CERP should grab it, get some other deal to make up for the difference.
Cash is king and not sure where else it will come from these days
"Cheesestring" did make giggle alittle mind............. :()
All the best (latter !)
......... ;) oh how little you know...........!
and yet you pretend to know a lot..............
All the best (stay in touch :)
I see you've run out of "C's" at the appropriate time Irene............ :()
don't you worry about my missus hun...........!
All the best (cold shower for me :)
"the Hedge"............!
over grown like your bush Irene............. :)
All the best (humour :()
Chesh - thanks for drawing Irene 's membership date to my attention - not being around in the Ritson era would be a good excuse for the naivety in suggesting that a return to it would be beneficial for CERP!
ATB!
In4..............!
you should probs give my Irene a break..............! she wasn't around during the LGO days, in her current form anyway........... :()
Lord Purple took the helm of the good ship "Columbus" 07 May 2017, and Irene joined LSE on the 12th.............! hmmm..........
In that time she has managed over 2000 posts, pretty much all here where she's not invested and apart from her open flirtations with myself, all negative..............!
All the best (your welcome :()
Hi LGO
I've reading Prd web site apparently if they start phase 2 the period when they can acquire Innis can be extended to September . I would expect the time will be lengthened anyway.
They do mention in an Rns that they're on the look out for an acquisition, are they going to offer less than the $4.2m, I would expect so.
Well , clearly another faux pas. And seem to remember this has been brought up here already, I think at the launch of CERP.
LK clearly chose it because he wanted to explore SA. Anyway, w bit of a red herring as this is not a consumer brand.
Not the ideal choice but I think LK has bigger things to worry about
You are a bundle of fun in a crisis!
LayLadyLay - BTW I'm happy to jump on the hindsight bandwagon with you and claim I wasn't impressed with the choice of name but it doesn't seem to have caused him problems with officialdom so far as he clinched the Suriname deal and renewed T I with CO2 deal replacing onerous outstanding MWO there.
He looks favourite to achieve the Goudron renewal but we'll see shortly - a lot riding on that - at least his brinkmanship gives the trolls a bit of excitement!
Krapper - I'm surprised you don't remember that Ritson showed great foresight historically by borrowing by way of a swap where repayments were linked to WTI - there was also a hedge in the deal. The borrowing terms worked out well for LGO as WTI slumped after the swap was in place - sadly Ritson failed to produce the requisite oil from the wells drilled with the finance, ploughing on regardless in a Shyte or bust manner which almost resulted in the latter after experiencing plenty of the former !
LayLadyLay always chooses to misrepresent my stance on the borrowing - it was a super deal but was still dependant on finding a level of new production which most investors, including the bank, considered very likely - but it was oil exploration and production wasn't guaranteed so there was always a risk, which the shareholders were prepared to take in exchange for the possibility of rewards - I know that's a difficult concept for some trolls on here waving their Post Office Books !
While you are idling away the days and weeks awaiting news on Saffron, and the future of the company in the light of Covid-19, you may like to consider why the company bears its current name and is it a prudent choice for a company that sees its future in an area where the name Columbus is not exactly revered?
Have you ever wondered why LGO Energy was renamed Columbus Energy Resources? A name change doesn't erase history but why Columbus? By and large Columbus is a hate figure in Latin America and even recently in Port of Spain his statue has been defaced on the so called Columbus Day.
The day is becoming increasingly controversial, however. Many argue the man himself isn't worthy of commemoration. Columbus wasn't actually the first to cross the Atlantic, they say. The holiday is seen as a celebration of colonialism, and offensive to the continent's indigenous people. Some claim he was responsible for murder and enslavement, and was a brutal viceroy and governor of the territories under his control.
All of which helps explain why people are using the #ColumbusDay hashtag on Twitter to berate the tradition.
Anti-Columbus messages are by no means the only ones being sent. Some are using it to share inspirational messages: " 'You can never cross the ocean until you have the courage to lose sight of the shore' - Christopher Columbus. Happy #ColumbusDay!" (Actually a quote from Andre Gide's 1925 novel, The Counterfeiters.)
But many read a little more like these:
"I'm celebrating #ColumbusDay by walking into a stranger's home and claiming it as my own. Housewarming party to be announced."
"Ah yes, genocide. #ColumbusDay."
"#ColumbusDay has become like that drunk uncle everyone is ashamed of."
The Spanish version of Columbus' name "Cristobal Colon" has also appeared more than 8,000 times, and is trending in Mexico. But it is dwarfed by another phrase - #nadaquecelebrar, meaning "nothing to celebrate" and is trending across Latin America.
In both languages, people are calling for the day to be rebranded. A campaign to rename "Columbus Day" to "Indigenous People's Day" has been particularly vocal across Latin America.
So what do you think? A good choice of name or a faux pas? I wonder if the name rankles with officialdom in Trinidad?
https://www.telesurenglish.net/news/Trinidad-Joins-World-Protests-Against-Columbus-Day-Statue-Defaced-20171010-0033.html
The above is a point of interest and food for thought for those who are unaware of the significance of the name in Latin America. I'm surprised at it being adopted as the company name but whether it affects relationships at a business level in Trinidad, who knows?
Come on Leo, show us what you got at Saffron! Is Columbus still viable at current oil price?
to be fair, I asked myself the same question too after reading an RNS from Shell. Anyway I do seem to recall our CFO mentioned something on hedging a while ago but I could be wrong. Don’t know if our 300-400 current (I assume) production level is enough has been hedged but would assume so. we don’t know because the company pretty much stopped communicating
Krapper - given the low production level from Goudron and the absence of certainty regarding continuance would you have prioritised a hedge on WTI for it? - presumably the answer would have definitely been NO on Saffron ( why hedge on the 0 bopd production Krapper predicted? ) !
Krapper - King of Hindsight Trolling!
Hi guys. Hope your all well.. hopefully news lands after the lockdown. My average SP is Massively down now. Oil prices are crap too...Wouldn’t want good news in today’s turbulent market... would just end up spiking and going straight back down ... need to maintain a steady sp growth increment..
anyway keep safe and remember your PPE ..
GLA
What are the effects of low oil price on Saffron.
Taking a conservative sum $15 revenue per barrel.
Taking a production figure the same as what has been intimated at Innis of 350bopd would =$1,916,250 per annum less lifting and shipping costs.
That still looks good to me, why worry about Innis at these prices
The money for the ISA may just be old money being transferred from a non ISA account to an ISA account - it may not be new money - Be Warned!!!!
oh..............! you gurls.............. :()
All the best (Sweating now ............ :)
Another question is LLL or Irene if your here.........?
Was it that drill that crashed the HUR SP from 60's to the 10's is at now, or the Lancaster one.........?
All the best (measure twice, drill once :)
I know LLL, I'm playing it cool.............!
the drill comparison was a tuff ask from me, and I wasn't expecting a reply TBF, but I got one, that's true love right there.......... :)
Now I ain't no geologist, but the Drill HUR did was probs completely different to our Saffron drill...........! in that one is under water, the other not........... :(
The crux of my query was the impact of a global pandemic during the project, clearly HUR managed to destroy it's SP without this virus............!
All the best (poor technicals .........? :)
regardless of weather, and I seems to remember you weather forecasts on the build up to the drill.............. :)
I think she has a soft spot for you Chester. Have you got a soft spot for Irene?
She answered your question about typical drill times by the way. So why still no news from Saffron? Has it been plugged and abandoned? (Don't tell him Pike!).
Oh come on LLL...............!
https://www.youtube.com/watch?v=xweiQukBM_k
All the best (has to be............ :()
Chester cheesecake - strange times atm though
Ah yes ... was it Irene who said your chitter chatter is strange? You and Irene in a tree (in your mind) ;)
https://www.youtube.com/watch?v=_OM3fszkD7w
Copy that chancers............!
and I agree on the comms between PRD and CERP btw.............!
All the best (strange times atm though, so there is my excuse !)