Member Info for in4cedros

Jonathan Swift had someone like Rosie in mind when he penned the sequel ' Gullible's Travails ' LOL!

Jim - I think Rossannan made a special arrangement for alerts on Spain - they send them twice because it never sinks in with him first time around!

Propin - no investment here - only just on the fringe of my radar at present but all the best to all shareholders ! I've only come across it rubber necking the car crash other board - as Chesh knows I've just bought trick cycling for dummies and 12bn seemed an interesting case study on chat board conduct LOL! I'm still trying to develop bonanza opportunities though - ATB!

Chesh & Propin - hope you gain admittance to ' The Group ' - just looked at the advfn board - that 12bn seems to have built up quite a group following of his own !

LLL - I was looking for a ' reason to believe ' but now - after considering your recent posts - I've lost the will to live - bring back Rod Stewart - don't know if you met his song writer LLL but you could have stimulated that line ' knowing that you lied ' if he wad written ' Placing Monday ' - but the line came up again for RTB LOL!

Captain - minimally tendering is a no brainer because it puts CERP in some control - if they lose the site obligations are transferred to winner so that's a win for people wanting swift exit with clean hands re the future. There are some on here who believe Spain has great potential - CERP projected to Spanish Government 5 million euros for 1500 bopd with EOR - so if we win I won't be crying my eyes out. With only 5 years left on concession CERP were offered circa 9 million euros for it when production was very low. Although I referred to it as a no brainer it took Ross months to understand it but even he eventually caved!

Captain - glad you were able to glide the coach and horses through that latest LLL argument - I thought for a moment April Fools Day had come early - extending that nonsense logic and he'll be blaming LK for all of NR faults ! Not sure why you don't seem to understand LK attitude on tender for the new concession - perhaps you missed a chunk of posts on the issues - even ' Ross I see no potential in Spain ' finally saw the logic in tendering!

Craig - I notice the article was posted on the other board and commented upon but you may have to pick your way past Arry who seems to have camped out over there and is raising issues some thought had gone away!

Bamps - NR originally thought the real prize was deep deeeeeep drilling which costs a lot - the new team appear to want to pursue cheaper drills first based on probably some of the finest research evidence ever put before an O&G board.Latest was ARKeX survey, which I partially funded - results are on one of the CERP website slides. No doubt all that info ( magnified probably by x100 ) formed the basis of the renegotiation of the SWP with BOLT - they know where the prospects look best but had to cover a wider area because deal had to look like rehash of old rather than micro focus but if this comes off big time we want to be in control of area.

when WTI fell substantially from $100

Bamps - you are right in this region the deeper oil is lower API - much of Petrotrin supply is low API so they luv Goudron Lite as it helps them with their processing. The theory is that the heavier API is the more substantive reservoir so that if a hit is achieved we could be looking at huge bopd and transformational growth! Incidentally GS and SA used to work for Madagascar O&G - the oil emerging there could almost be spread straight on your driveway ( not mine - before the unsolicited contacts overwhelm me!)they used the oil to super heat water for injection into the sands otherwise it could not be encouraged to the surface - cost was huge and didn't look attractive when WTI substantially from $100. The API there was, from memory, perhaps 10 so nothing like Venezuelan Basin!

FWIW IMO NR may stay until the new tender process is completed. I've not seen his resignation from CPS directorship yet or any new appointments - there was a suggestion erstwhile licence holders get some priority in the new tender - don't know how tangible that is but seems likely they will submit tender from CPS. NR is good insurance for LK - if it goes pear shaped LK can put him up as the fall guy - so probably worth another 6/9 months. NR has huge experience of CERP and probably has to run much past the new team so there is critical scrutiny. Rosie on the other board has regurgitated the comment from Malcy ' without a doubt NR is an impressive oil man ' so probably nothing to worry about LOL!

Porker - you claim to look at so many angles but seem to concentrate on the obtuse. Not long to wait for those production figures and your epiphany - can�t come soon enough even Chesh is getting bored with you!

LLL - for the avoidance of doubt I applaud LK action on Spain as we don't know for sure whether we will be successful with tender so the redundancy was a no brainer!

Porker - NR didn't abandon the company he stepped down because shareholders believed LK would do a better job and the SP seems to suggest they were correct. NR is still on the pay roll, so far as I am aware and probably will continue whilst Spain negotiations are ongoing - he has deep knowledge of the Spanish field and if the tender is successful people might be surprised about the value of this asset - especially with the new team expertise in EOR. I see VSA managed to squeeze in a reference to upside potential for Spain - it wasn't a gushing ramp from them but it's early days and no point in exciting you too much Porker as we haven't even tendered yet!

LayLadyLay - just noticed your post on BOLT - I'm impressed you were able to access all the legal documents and conclude so quickly that Tony didn't need to renegotiate the deal.Tony said it took him months so perhaps you should send in your CV - are you or have you ever been a qualified practicing lawyer? Even NR's regime sussed all was not well with the deal and that KP didn't appear to be able to come up with clear paperwork. If it was clear I believe KP would have sued CERP by now especially as his mate NR is no longer in charge and CERP have cash. My conclusion was that there was a problem that needed sorting and CERP have paid for an agreement that is workable, affordable and is largely performance related - great job Tony - i hope you and any other non shareholding expert legal advisers will be able to get over your disappointment at the deal and find it possible to move on with life as it is in the future !

VanVan - I thought your chat with Levi was going so well until that Freudian slip about the size of his manhood - it's not your normal style and it might be a genuine typo - if we're talking cojones it's the BOD who seem to be waving them at shareholders currently - who thought that bonus would be well received - I'm happy to buy some if they give me a cash bonus - I've worked for it as well!

VanVan - he put money he took from you and me back into the company as shares in his own name - hardly a heroic gesture - share options at say 2p would have at least appeared a little challenging - if the bod are So So So confident that this is going places rapidly why did they need to take my money ?

VanVan - I hope you are right but shareholders are reliant on capital growth in the SP for a ROI - management can just vote themselves a bonus out of the cash when they get bored the SP is languishing - then just tough it out - some even use the bonus to buy more so it clearly wasn't desperately needed for life saving medical treatment!

Northie - good luck for the future - everyone gives different weight to the issues affecting AAU and it wouldn't do for us all to be the same - I still think there is good potential here but I've had my say on possible complacency assisted by director bonuses and I promised Emily I wouldn't keep on about it on this board! - you make some good provocative points Northie!