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Well, it’s definitely a step in the right direction, Faz! Imagine what will happen here when news regarding the SWP starts to arrive....
Decent RNS out.. can’t see it blue spiking tbh.. Let’s see how the market responds .
Out of interest anybody remember what the market capitiilisation was when he took over?
Mr Magoo seems to be stuck in a loop. Perhaps he is a Russian BOT? Quick, someone, switch it off and on again!
Krapper - it's only non invested scum like Dross who threaten Harikari if the drill is delayed by a few weeks - most investors have been waiting many months for this moment so aren't bothered what you think but it's ok for you to blub about it if you want !
LTID - good summary - I attempted to explain it to Krapper the other day as she doesn't keep up with the development of CERP - not a good trait for a deramper.
Krapper - CERP have provided information on the drills - I'd think most investors here have greater expectations than 50 bopd but they accept there are no guarantees on production - this concept of risk assumption seems to be outside your comprehension as you seem to require the security of a Post Office Book with the benefits of a Gusher - very few are able to achieve that - good luck with your aspiration - why not insult the intelligence of people on your latest infatuation *ullow Oil!
Arguably, the CERPs most exciting opportunity is its onshore position in Trinidad’s South West Peninsula (SWP). The SWP is close to, and geologically part of, the East Venezuelan Basin. This is the largest hydrocarbon basin in the world. Koot says the opportunity to access the Basin’s offshore-scale potential from an onshore location drew him to Columbus:
‘Trinidad has been producing for a long time. However, the SWP has not. This is because landowners rather than the state own its mineral rights. Oil companies have overlooked these resources .
Exciting Time To Be In CERP
in4cedros
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)
There hasn't been a more positive time in recent years. The action starts within the next few weeks.
Hold on to your hats.
GLA and do't just read this board, DYOR
Happy to oblige :@
Z2Z2 - what news are people waiting for here?
Dross - they've just seen your 23:50 post at HQ and decided to suspend ' meaningful ' rns until further notice LOL!
Hahahahahhaaaaa
Dross - alternatively you could've just said I'm back in boys but I'm not quite ready for Peter's list !
If you have nothing more to say.. keep your trap shut for 6 months
Dross don't torture yourself mate! - if you don't understand the company or find aspects of it a drag no one minds - there's plenty here that are able to rationalise it without the anguish you clearly go through on an hourly basis - glad you got help in the end!
LGO-fan
I suppose the acid test of what the SWP is worth right here and right now is what CERP would get for it if they parcelled it up for sale. Not an awful lot, I suspect, because of the CAPEX required to get anywhere with it, because of the current oil price and because of our friend SPT. A couple of Bonasse appraisal wells are not going to get them much further down the road.
The SWP remains interesting though and good work has undoubtedly been done around the way in which the relevant licences are held. The disappointment lies in CERP’s failure to keep its powder dry enough to fund anything that could be genuinely transformational or even, I would argue, to safely fund those Bonasse appraisal wells, the wait for which drags on.
The wait for CERP’s new country entry is also dragging on. What that will look like and how it will be funded remains to be seen.
Talking of funding, I do not understand why Leo Koot does not take advantage of the quite astonishing level of retail conviction here to be open with the shareholders, via an open offer with an excess facility, about what he needs to do things properly. That would be shareholder friendly and indeed could light a fire under CERP. His continued failure to come clean about funding, which will no doubt end in a placing, is anything but shareholder friendly.
I for one have nothing more to say until Leo Koot deigns to put out a meaningful RNS.
Let’s get this SP Moving to 10p please LK..
very painful post, IMHO. Shows you lot really have no clue what you are talking. Blind ramping is silly, but this goes beyond that. Zero credibility!
Krapper - Simples ! - the licences were held in a complex way by different organisations - something that even Pershad appeared to have difficulty simplifying with your hero Ritson.
LK and legal team realised it was a dog's breakfast and renegotiated the deal so that it was worthwhile developing and more importantly easy to sell on to a major if it proves to be the bonanza you are presumably hanging around for !
Krapper you need to move on with the new programme no one is overly bothered about Goudron now - it's a solid producer but needs work which is lower priority than other fields as it's a PSC so the net yield per barrel is less than other fields currently being focussed on.
Hope that helps but with your Post Office Book attitude to risk I still don't understand why you are interested in this or *Ullow - why not get Dross to guarantee your investment for you - he is very confident with his advice but fails to mention when he misses upside here, buys into a duster at AMER and is down around 15% in 2 days over at TCP ( thanks Joe ! ) .
Arguably, the CERPs most exciting opportunity is its onshore position in Trinidad’s South West Peninsula (SWP). The SWP is close to, and geologically part of, the East Venezuelan Basin. This is the largest hydrocarbon basin in the world. Koot says the opportunity to access the Basin’s offshore-scale potential from an onshore location drew him to Columbus:
‘Trinidad has been producing for a long time. However, the SWP has not. This is because landowners rather than the state own its mineral rights. Oil companies have overlooked these resources .