Member Info for CaptainSwag

ross - more shares is dilution i am afraid. however you phrase it.

anyone not able to or willing to subscribe will be diluted. Personally i would jump on it. but i still have to come up with more cash. I already have around £50k in so a 1 for 5 means another £10k.

i think obc spiked on the back of the bit coin spike.

however now that isn't going to work. Clem will have to come up with something good. waffle and brokerman pumps arent going to do it. i hope the money on the game is well spent because i think he will struggle to raise more in the future

rossanan - i think a lot of aim is speculating and i was happy to do that ( my gamble was on koot in south america) until Schroders got involved. Then i saw it more as an investment.

There are going to be costs - legacy and new projects. I guess you have to trust the bod or not. nobody is forcing anyone to be a shareholder.

i see your concerns on expenditure - and i do think we are in a transition period.

they have secured a loan facility and seem happy with it...i think further dilution would not send the right message ...too many would use it as a negative and refer back to lgo. having seen the SP drop would only mean you get less bang for your buck - more dilution for less money

of course they will probably need more money in the future and then a shareholder offering to raise cash would be a good idea. and a higher SP would mean more cash gained

to be honest i have only ever been interested in kimmeridge - that was the dream we were sold - time to know one way or the other

Revenue 13 - -
Cost of Sales (19)
Gross Profit (6)

so it has cost more to sell the oil produced than they earned.

is ex still here?

I remember the discussion we had where he was telling me how much they were making whilst I said the official production figures are readily available and showed squat didley

rossannan

spain costs are $0.15m - including some tail end costs which hopefully will reduce next quarter - not huge amount but i do agree it is not great as no income coming in - hopeflly it will get resolved soon.

m&a costs - I hope these are going to be a lot higher as we expand.

which of the $1.1m capex investment is reocurring?

joebop -

I am just going from the koot interview - he dropped it in that what they put in they will get out - my ears pricked up at that as i thought it would be a good way to judge what future production will be.

I like a lot of other people in this share believe that koot can deliver what a lot of others small sized oil companies cant - so in that respect what others do is not necessarily a useful barometer

if you disagree then you need to take it up with him - at this moment I have no reason not to believe him

joebop - actually I am

firstly one of the interviews koot stated that what water you put in you will end up getting in oil out.

from the RNS

The oil production enhancement activities of 1H 2018 have also allowed produced water capacity to increase from 600 BWPD up to 1,200 BWPD.

So they have had 600 BWPD and we are getting around 540 bod .- if they put 1000BWPD day in then that would indicate Koots forecast of 1000bod to be on track..

rossannan

yes the monthly expenses will be similar - so will the monthly profits (hopefully with an increase )- so that will take care of it

As I said the large capex investment and payback of debt seemed to be the main drop in cash in the bank...Will koot invest more - hopefully. I trust him to balance it all

rossannan

the company is cash flow positive with an increase of operating netback of $0.24m from the previous 3 months to $0.94m

yes there was a reduction in cash but the majority of that seems to be due to capex investment of $1.1m and payback of debt.

both of these seem a good move in my book. They are increasing the water injection to 1000 barrels of water a day which should increase the oil production similarly

It was recently stated in the Company's Annual Report, and in various other statements in 2018, that Columbus is fully funded for its 2018 work programmes, is cashflow positive from its operations and management forecast increasing revenues from its operations in Trinidad

I think the decrease in cash is indicative or how quickly koot wants to develop the company.

personally i would prefer this to a slow development with a few more million $ in the bank.

rossannan

in my opinion increased news will support the SP - people wont want to sell up between 3 monthly updates if they think something could happen in between.

I wouldn't say gudron isn't working - there is a steady 500+ bod . OK I think most hoped for a bit more out by this time
but it is still bread and butter money.

I invested in CERP not for trinidad but for Koot and South America - which means i hope there are lots of plans - B/C/D as long as we get to £500m

The question is will Koot make this into a bigger company - I think he will..schroders agree too

plantman - i feel sorry for GUN holders - looks like the 5% shuffle has gone on again and i cant help but feeling that you have all got shafted..

interesting the price it estimates the whole of HHDL...in which case what do they value UKOG at?

I really hope leni doesn't do the same....theres either billions of barrels and it is worth a lot more or there's nothing and the ukog shares won't be worth much.

average down? quite honestly I wouldn't put any more money in DOR.

I have written off the £10k invested...there is always the possibility that there are billions of barrels of oil and that one day they either may conclude all these bloody tests and actually drill HH...or one day Angs might actually successfully get a decent quantity out...and the SP does 1000%...and I can get my money back....even paying the inflated trading costs of hargreaves

put more money in....no thank you.

my mistake....thought it was on AIM!

but yes it does act like it is on AIM!

iteration

It is AIM....often a good RNS gets sold into possibly because it will be a while before any more news and shares drift. A vague RNS will definitely result in a drop.

I do think Companies need to think about how they communicate RNS on AIM these days. If it was only ever gonna be vague...ie looks good but data to come later...it probably would have been better to say full results by year end or something like that. not build expectations

Anyway at least it wasn't bad news. Even though it is only one string to the bow that would have caused an almighty crash!
market was looking for something in the RNS - didn't get it.

too vague for a great reaction......and the MMs killed what we could have got with massive spread.

disappointing as have been waiting on this for a while.

have to say i am shocked at the recent drop...I always thought the schroders deal would put a base of 5p.

however this share seems to be following other AIM shares in that it drops after a RNS ...i think the 3 monthly updates also mean people think there will not be much news in between. There are plenty of other shares where people can dip in and out and come back to cerp. which is along term investment. personally i have an investment pot and a trading pot. the drop caught me out on my trading pot as I thought it would bounce back quicker to 5p.I need the money for another share I am heavily into which is on the cusp of something great imho. I am still happy to let the investment pot sit as nothing has changed in my view in respect of the big picture.

personally i am interested in Rossannan's posts...i believe in CERP but I think have a blinkered view of any share is a sure way to lose money. He has a point about cash burn....however i agree with others that cash has to be used to build the company...I didn't get in for gudron but koot and his expansion in to south america. this will take time and will be done step by step. it will cost but if you trust in koot it will be profitable overall.we are cash positive so whatever cash burn we have should be covered and coffers improving for expansion.

My view is that if you have confidence in your shares it shouldn't matter what anyone posts - so there is no need for personal attacks. contrarian opinions only serve to educate and re-evaluate and should ultimately either reinforce your belief or make you more careful.

jim - my suspicion is that lenigas has never lost any money on his companies - that is not to say it is the same for the investors in his companies.

his history is what it is.....

good point!

interesting that one of the first things koot did when taking over LGO (after changing the name so no longer associated ) was to give up the plush offices