Member Info for BumblingFool

Sad but true, time taken to give news has been no indication of results. In fact delayed news has mostly been poor. I wouldn’t read anything into it especially on CPO5 as we are not in control of news flow.

Willic there is no end of reasoned valuations on this board, ultimately any buyer will pay as little as they can, how much that is depends on the views of the major shareholders.

Ha ha Mathurin I couldn’t disagree more! 12000 bod near term 20000 medium term in 2017 ocean of oil in2018 and 2 no let’s make it 3 rigs on CPO 5! it’s management over excitement that damaged sentiment in the first place. I’m much happier with the new regime under promise and over deliver.

Pickedpeck spot on, big news today, subdued market response but could be the start of a slow climb. We are making lots of cash and have loads of prospects, I’m happy the over promising and under delivery is out the window and a steady progress approach is now underway. I think the 7000 exit rate target last year was forced through over pumping that damaged the wells and resulted in output fall. That’s now being rectified but damage to the companies credibility was done. Great progress since on multiple fronts can’t be ignored forever by the market. I’ll continue to hold, as I have no more funds to add.

C, Drake “The problem is, it is a stock that used to trade at 1p levels ” when? You have to go back to 2004 on the charts! The company entered Columbia in 2005. I don’t know the history before that, was it even in existence as a Oil company before that?

I’m surprised not more info o sol, but happy with the update, perhaps the market might start to factor in the oxy deal now. Hopefully climb back to the 16p range over the coming sessions before the next Indico. We can but hope the market will become rational at some point soon

Reads positive but I am surprised this got a RNS, going to a meeting giving a short presentation and have a chat? RNS worthy?

It’s interesting but to be honest I’d rather we focused on bringing production from the current acreage. But I guess if there is decent further opportunities around our pipeline....

Could be a few possible reason for drop in throughput and increase
1 reduced production during drilling then increased arcompletion with new well
2 kept back oil due to price drop expecting bounce, storage full so pumping again
3 well productivity decline new well sill not drilled or duster but more 3rd party throughput.

There is no knowing without update.

This SP decline is dire! Wish they would buy back some shares while the SP is at dismal levels.
Low ball buy out looking more attractive by day!

It was also stated during one interview that once all royalties etc were accounted for it was more like 20% to AMER

That’s true but it will still drop 15% or so on a duster. The market isn’t rational at all!

Good progress but the lack of liquidity in the stock with a crazy spread continues to hold up back

Not surprising that it’s all good news today! Hopefully will start turn around. I’m not going to the AGM as I have to work!

Updates from attendees would be much appreciated

Thanks

Tomorrow 14th

Not sure management ever said 5000 think that was just speculation on this board

There is no debt

Yes of course you are right. Sol next at current speed maybe 1 more afterSol

My pessimistic view

CPO5 Pavo real q2 maybe early q3 by completion Indico Appraisal Well finished by q4 2nd appraisal spudded at best but more likely q1 2020

Put 8 pushed into 2020 spudding q2

Put 9 and put 12, will we really get 3 wells in H2 this year, I have my doubts so I’m guessing just 1 this year I’ll be pleased if we get 2

So of the 10 guided I’m predicting a pessimistic 4. On the bright side I’ve heard that there may be jam in 2020 ish

They have said they intend to have 40 million in the bank at the end of the year. Seems they view this as being a reasonable bit of petty cash to take advantages of opportunities and as a buffer should ONGC ramp up the spending on CPO 5. I’d think it’s likely that additional funds over and above the 40 million could be subject to a distribution at year end 19. I’d think somewhere between 0.5p and 1.5p divi around this time next year is on the cards maybe even 2p

Just entered into bidding war to buy Anadarko