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you are missing the point when it comes to SWP: what this company has set out to do, is demonstrate there is recoverable oil down there. Once done sufficiently, the SWP will be sold to a company that is far better placed than little CERP. Majors don’t look at bopd, they look at proven potential because they know they are far better at delivering bopd.
At least 'John' reincarnates under a different guise...
Bearing in mind Faz reportedly sold his business, went bankrupt and told his tale of woe on here about how LGO ruined him and it was the bane of his existence (I'm sure he remembers those tales) and now he is a one man band, wearing a sandwich board, ringing Koots 'bell' - so to speak...
Hi, Bamps,
Yes, I completely follow what you say (and guess Faz has liked your post....).
Anyway, the days are long gone when we are valued on what we have, even with a drilled well.
The days of MXP / BPC / RRL being valued at what was recoverable, without actually recovering it or having the pressure to get 10's of barrels out of the ground, are long gone.
We may have millions of barrels that are tangible but if their flow rates are poor, and we can't extract enough to make the desired money, it matters not that the well will earn us hundreds of millions if it takes a lifetime to extract it.
Hi g-r-q
It's not necessarily the bopd that will raise the share price
The lower cruise at Saffron holds 10m barrels of recoverable oil at $60 a barrel will give an asset worth c£500m
With a resource report confirming that figure it will propel the sp without lifting any oil, although testing and flow rates need to be carried out
From memory when we were all expecting Ritson to get a cpr a lot of us didn't realise the finance has to be in place besides the asset ,which it wasn't in place and we didn't get the cpr crashing the sp
The Lower Cruse,which is the Saffron wells primary target has a PMean STOIIP target of 10m barrels recoverable so I suppose it depends what value you would attribute to that.This,of course,ignores the Clove well,SA acquisition and current production.We know that costs will reduce due to the acquisition of our own 2nd workover rig.All told we know that over a dozen initial risked prospects have been identified ranging in size per prospect from 20m-400m barrels STOIIP .I can't wait for us to get started,hopefully in the next 10-14 days.
A conservative 900% increase from today's Sp?
Hey - I'm all for making money and that would see my just over 6p average with a lovely return.
Faz - is it possible you're being slightly optimistic? I wonder how you came to that evaluation on mcap.
How much bopd do you expect to be producing to receive that type of return?
I have given myself a conservative target of 35-40p .. those that can hold out until £1 a share.. good on you.. I certainly can’t wait that long.. £1 all depends on LKs buy out deal.. he did say that was his final goal .. who knows what ace cards LK has up his sleeve. Let’s just hope it’s a biggy either way..
good luck all..
Faz
Just a short recap - just over 4 weeks ago we were in the 2.8/2.9p range all week. Today’s drop, puts us at the same level as last Weds which was after 6 consecutive blue days. The RNS just 2 weeks ago said we were due to spud at the end of the month. It is unlikely to come this week, probably late next week but if it’s Monday 30th Sept it is still within the stated timeframe. We have waited a long time so if it’s a week late - so what? I came across some comments I printed off when LGO reported the newly drill had initial flow rates of over 1000 bopd and the SP rose 50%. I have no idea what the SP will be tomorrow, next week, on spud or on a (hopefully) successful drill but 50% from today’s SP put us near 7P. Yes I agree the potential is huge but I would caution over optimism, if we hit the jackpot then we can all be very pleasantly surprised but I do think talk of £1 or even 50p in the near future is unrealistic (very happy to be proved wrong) and can do more harm than good. Don’t get me wrong I am a glass half full person and really hoping for a big success here but it is not going to happen overnight. My point is we are the same company we were 2 weeks ago, no update, nothing has changed except we are 2 weeks closer to spudding the well. Knifeman I remember your posts several years ago and like most LTH I shared your pain, welcome back! GLA!
Yep....roll on friday...that weekend thing...dont want to be out an all that...it will be o er 5p though
I know j99mes, still upto now, there has still been more buys than sells, I believe this company has a lot going for it, and we will be at new highs by Friday, today is just general market driven
Oops...!
Dross trying to deramp! Wow thats a surprise bring on 5.5p by end of play
Oil continues upward trend, when the next drone hits and trump farts, should be at 90 dollars per barrel, bring it on, with a 4,000 ft drill into lower crust with 45% chance of hitting a gusher! Going to blow!!
Despite all the ramping there is not really a significant interest being shown. I put this down to many having been stung in the past when this was Leni Oil and Gas, then LGO Energy and now Columbus Energy Resources. A name change doesn't erase the history, nor does a change of management, although it might obscure it to some extent. There has been a lot of effort put in via presentations in order to generate excitement but talk of 500m MC is based on a number plucked out of the air IMHO. Nobody can predict such a transformation but it sounds enticing and appeals to those who have a gambling instinct.
Will the SWP be the pot of gold at the end of the rainbow or a damp squib? We will only know when we know and that equally applies to the BoD as much as it does to retail investors. The 'other country' M&A that has been mooted can't be assessed until there is a deal in place and we know the details of how this will be funded and the potential benefits. It might never happen.
Good luck to you long serving holders and I wish you well. I would not be surprised to find the sp in this range or lower in 12 month's time. If there is a spike some time soon then it could be good practise to take advantage of that and not sit on your hands watching a potential retrace. This scenario has played out many times before and some of you seem to believe in the dream to such an extent that you miss out on opportunities to bank profits then buy back on a retrace. As Aleister Crowley once said, ' Do what thou wilt shall be the whole of the Law'. ATB
Some of you have been here for many years and I hope that you all recoup your losses to date. The
Thankyou donkeybrains, as expected on our way to 10p
You beat me too it Tec, at least j99mes took it in the chin responded kindly
More than happy to be wrong here 700000 times over ....cheers John
J99MES - just hit 5p, We must be lucky
You'll be lucky to get 5p today....maybe friday
MMs know the potential here.. 25p on the cards is no joke .. let’s get this party started. All aboard.. trains about to leave the 5p station
Get ready for that big leap northbound, £57k bought , £300 sold
Wow 9 buys, 1 sell good volume already, 5.5p by end of day at this rate