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I’m Dreaming the new SA field will have no SPT, any successful well brought onto production will allow any CAPEX spend offset any royalty rate applicable. Allowing cost recovery within a pretty decent time scale. :D
CaptainSwag
The new country entry will interesting - how the MWOs are to be funded will be quite crucial.
Ross- interesting point about why do away with quarterly updates as we want more not less news and info - that was my I itial reaction too. However I think what he might be trying to do is get back to unpredictability so that people stay in rather than try to time entry and exit strategy. I certainly want to be heavily in when south America is announced as that is why I got involved in first place.
However that is fine if there is continuous and regular progress being made. Otherwise the sp will drift anyway.
I have my £9k free ride and waiting for a 3p entry for a bigger stake to load up waiting for SA. I think that should be achievable in one or two weeks.
philipy
But why ignore someone who is making valid points? I was right about the Q1 update and am still waiting to be proved wrong about the Q2 update, which LK now appears to have bottled.
Siliv,
If you bookmark the CERP Chat page and don't log out at the end of a visit, next time you open the bookmark it will simply take you straight to the chat page with all the filters intact and working.
Totally agree that people should ignore him and others like him. I've got half a dozen names filtered who constantly reply to him and it makes for a sea of green, but whats left is normally sensible!
What complete and utter tosh, bet our major institutional investor (Schroders)is quaking in his boots and selling like crazyNOT...... you crazy woman, seems to me you have gone completely mad. Drilling in a few weeks without borrowing because we have the cash is good financial management, more major institutions will come on board very soon. LGO nearly went bust two years ago and now LK has turned it around, open your eyes not just your big mouth lovely.
countdemonet
Or you could try to come up with valid counter-arguments instead of insults. Those backing the bull case here maybe need to show newbies that they have more in their lockers than just name calling.
IS IT NOT TIME WE JUST IGNORED THIS INGRATE PIECE OF DETRITUS. I filtered him years ago so the only comments I see are the ones answering him from you guys,on which he thrives.
No need to get sucked in by his ravings just the odd comment to advise and warn the newbies what he his like
faz7475
Not only to scare of newbies but hopefully to dislodge o few LTHs as well. Something is not right here. I know that I bang on about the continuing absence of a Q2 update, but if it is true that Leo Koot has decided to ditch this, that has to be a major red flag. Why? Because folk were asking Leo Koot for more RNSs, not fewer, certainly not to ditch the core quarterly updates. This move just looks disingenuous and opportunistic to me - we know that Leo Koot’s performance in terms of production and keeping the business adequately funded has been pretty appalling, and now he seems to be telling folk that he will be keeping these failures under wraps! And they just take it! There is still money to made here by nimble traders surfing the waves of sentiment but this does not look remotely investable.
So Ross, you’ve admitted to being here only to scare off newbies... you little **** you ! If I ever see you !! I’m gonna open a can of whoopass on ya .. lol
MrMagoo31
It is possible that your posts do more to scare of potential newbies than my sceptical musings ever could. At this rate you may even make some of the LTHs have second thoughts. Keep up the good work!
MrMagoo31
No, you said that the SPT regime does not apply to the SWP. You were wrong. Own it and move on.
Your paramount concern should be the continuing absence of the Q2 update and what this may be telling us about the CERP BoD’s approach to information management.
Ohhh.. CAPEX offsets SPT and 0% on Royalty rates! :D
“Rental: US$70,000 per annum (escalated up, or down, depending on the prevailing WTI oil price)
· Royalty: Half-yearly stepped payments of up to 12.5% are payable on gross production, capped at US$2m/annum (with no royalty payments due for first two years of production, 10% payable for years 3-8 and 12.5% from year 9 onwards)
· Drilling Bonuses: TT$100,000 (circa US$15,000) upon the spud of each of the first three (3) deep wells.“
‘Rental: US$70,000 per annum (escalated up, or down, depending on the prevailing WTI oil price)
· Royalty: Half-yearly stepped payments of up to 12.5% are payable on gross production, capped at US$2m/annum (with no royalty payments due for first two years of production, 10% payable for years 3-8 and 12.5% from year 9 onwards)‘
Ross,
I’m no journalist so media transcription is not my forte.. ;-)
Pause and type, repeat! (I may have missed some wording)
(Not apologising )
HH
No, if you are quoting him correctly, he got it wrong. End of.
ROSS..
As is the case with most written words the context gets lost.. hearing it on media gives an indication of company wide benefits from such items not just limited to STP
https://columbus-erp.com/news/videos/
Wow! You would think that he would understand the difference between what mitigates PPT and what mitigates SPT!
CFO Gordon Stein..
HH
Of course CAPEX can be used to mitigate SPT, the point is that MrMagoo31 was contending that the SPT regime did not even apply in the first place.
But if you are quoting Leo Koot correctly it was pretty misleading of him to suggest that anything other than CAPEX can be used to mitigate SPT. Historical tax losses certainly can’t. Leo Koot really is more of a salesman than an oilman.
FYI...
0:30:15 of AGM media..... “SWP. Potential economics including indicative economics SPT doesn’t kick in for a while because of CAPEX program, using and utilising CAPEX, In that kind of environment you invest here vs there”
1:03:05...”we won’t be hit with SPT because of your capital program, historical tax losses and what the company’s spent..very healthy CAPEX program ... 100million”
;-)
Bit personal that question Ross..........!
perhaps MrMagoo should provide you with a media vid for you not to watch...........!
All the best (stay cool MrMagoo :)
MrMagoo31
How old are you?
Why not just admit that you were wrong and that the SPT regime does apply to the SWP. You have over £100K invested here - you should be right on top of stuff like this.
Witch is why you constantly refer to our "Koot" as Riston............!
he isn't BTW, and you adore his eyes...........!
All the best (Your clearly missing NR :)
Cost recovery levels will be another to look out for ?? ??
MrMagoo31
I did, a long time ago. You clearly haven’t done yours.