Member Info for in4cedros

Re gripe 1 - it follows, to those with even a very limited grasp of mathematics, that at a run rate of $180,000 monthly the $12.5 million will last many years!

In reality I can’t rule out it may be spent more quickly on other projects, the BOD, after all, have a free hand, but they do have to answer to shareholders and I doubt the Australian cohort are going to be supinely tolerant to just using it for BOD salaries for 4/5 years!

Obviously you, as a vocal shareholder, will have your opportunity to criticise the BOD if that’s the case!

GarryGraham - it’s a relief to hear from a committed shareholder occasionally- it speaks volumes for the potential of OFF-1 that you continue to hold and decided to double down despite having more reservations than most of our trolls!

Re gripe 1 - Eytan has stated the monthly loss for admin is around $180,000 monthly. That was before they settled the dispute with the land owners of the South West Peninsula field in Trinidad. Those that follow the company know they have declared some assets in Trinidad ( geographically to the South East ) to be core, with the other fields in Trinidad up for sale.

You seem to be reluctant to acknowledge that the fields up for sale could yield substantial sums - the deal struck with PRD certainly underlined that. I look forward to you having a better understanding after you’ve read the RNS relating to that deal, which I have previously referred you to.

Re gripe 3 it’s an interesting opinion and it may well prove correct. Closure there wouldn’t devastate me as Eytan has to make fine judgements. The BOD now have a good understanding of the assets and viability. Your suggestion is, however, based on no published briefing from the BOD. I prefer to give more credence to what they say and do - we only have to consider the Chevron deal and the pile on from trolls against that to learn it can make commentators here lose credibility very quickly when they attempt to plough their own furrow, based on no information, which conflicts with the BOD statements.

Re gripe 2 ( OFF-3 ) I understand it’s difficult for you to see the potential but I believe most shareholders are happy for the work to continue there. Obviously if you can guarantee it’s of no value I’d support you being paid to make such a presentation to the CEG BOD as it would save money but I’m doubting, based on your posting history, they would take you seriously!

I’m still basking in the comfort of that bank balance and the magnificent potential here!

Probably not game changing information for most readers as it’s improbable that Chevron won’t proceed with seismic after paying CEG $12.5 million a few weeks ago but I guess the disenchanted have to try and hang their hat somewhere!

I’m still basking in the comfort of this transformational bank balance and intrinsic value of the remainder of the Chevron deal, not to mention the potential of OFF- 3 and Trinidad.

Thank you Chevron and thank you Eytan!

Garry - I didn’t mention the possibilities of cash from sale of some of the Trinidad estate - could be significant, check out the deal with PRD!

GarryGraham - there’s going to be plenty of time to discuss all the permutations before any drilling occurs.

Don’t forget it may well be that CEG achieve another fat credit to the bank account in respect of OFF-3 farm out in the meantime, that may affect decisions on how much of the 40% CEG retain!

I’m sensing you’re salivating at the prospects here!

GarryGraham many thanks for your post. I’m quite flabbergasted you believe, from reading my posts, that I’m relying heavily on success here. I’m certainly celebrating the success Eytan and the BOD has achieved for CEG and i don’t care how many trolls want to play it down it’s a phenomenal triumph.

Do you not accept receipt of the $12.5 million is transformative for CEG, don’t you feel more comfortable, as a claimed shareholder, with that cash in the bank compared to the pre Chevron completion situation, where I seem to remember you were very flaky about the deal getting over the line!

Looking to the future it occurs to me you may have missed the video where Eytan discussed options available to CEG should Chevron decide to proceed with a drill, after positive seismic. He said that having a 40% interest opened up the possibility of trading a portion in return for payment of CEG share of the drill cost effectively leaving CEG with a free carry for their reduced share.

Whether CEG does that depends on the perceived attitude to risk of shareholders. Although you ventilate considerably on here and claim to be associated with a group of shareholders I can’t help thinking that the Australian group are likely to hold more sway and if they want CEG to keep their 40% by fundraising that will probably be the preferred route.

You speculate on the odds of success and you’re entitled to your opinion. I’d prefer to wait and see the COS produced by CEG at the appropriate time but I certainly wouldn’t dispute it will be a gamble . As I suggested previously I don’t believe this is a share suitable for widows and orphans!

Lastly CEG don’t need me to defend them - their actions speak for themselves but I don’t mind chipping in from time to time when trolls get overly busy with tosh Garry!

Briggsy- it would have been even more magnificent if it were £12.5 MILLION rather than $12.5 MILLION but you won’t hear me whinging or whining about that - it still puts CEG in a wonderful position compared to the pre Chevron era doesn’t it John?

Thanks again for giving me the opportunity to reply!

Briggsy - don’t be so hard on yourself, many probably see you as angry, cos you lost money here, but a ramper? Yet here you are over egging the recent CEG bounty payment from Chevron - it was only $12.5 MILLION DOLLARS!

You serve ‘em up Johnny and I’ll knock ‘em out of the stadium booom booom !

Briggsy - don’t be so hard on yourself, many probably see you as angry, cos you lost money here, but a ramper? Yet here you are over egging the recent CEG bounty payment from Chevron - it was only $12.5 MILLION DOLLARS!

You serve ‘em up Johnny and I’ll knock ‘em out of the stadium booom booom !

Briggsy - to you it may appear tripe but for curious onlookers it’s interesting factual information which changes the investment proposition, particularly the downside risk factor.

Surely even you would agree that CEG were desperately vulnerable prior to the completion of the Chevron deal - the state even stimulated your famous quote

“ Why on earth would anyone want to give their money to a company with no credibility and run by amateurs and most importantly who on earth would want to partner with them ”
 
Now with cash in the bank CEG can plan for the future with free cash they would have had little hope of raising in the market - absolutely transformational! Long term shareholders are certainly better served having good fundamentals than a SP based pretty much on hope.

I’m sure shareholders are pleased you are concerned about their SP but I doubt they place much reliance on your predictions based on your history #nocredibility !

As we hadn’t heard from you for a while I was thinking you may have come to terms with your loss but you clearly need more comfort from me. Thanks for giving me opportunity to reply and make my points!

In4cedros

Posts: 5,989

Price: 5.75

No Opinion

RE: RE: $12.5M banked8 Nov 2024 21:41

I’ve only replied to GarryGraham because I had the time tonight but, IMO, the incisive post of the day is here:-

Tobin

Posts: 1,134

Price: 5.75

No Opinion

RE: RE: $12.5M banked

Today 16:39

It is somewhat surprising though that the SP hasn't moved with the recent RNS. 

CEG remains a high risk play, or does it? 

There is a lot of potential upside here, and for £12million market cap, with now $12.5 million cash in the bank I think there is a good argument that CEG is undervalued.

Briggsy - I’m rather saddened you’re perplexed by my MO - I clearly have my own agenda here, like most other posters. One strand is to robustly respond to trolls.

FYI, historically, I have occasionally agreed with trolls but that’s when their case has been well argued, preferably including some facts - your type of trolling is pretty third rate, based largely on bluster and clearly that’s been your downfall, particularly with regard to your much quoted tosh on the Chevron deal - #nocredibility!

As I’ve said before I do understand the idea of being upset you lost money on this share but I would urge you to try and come to terms with it and move on with something more positive - getting regularly owned on here surely can’t be gratifying!

In4cedros

Posted in: CEG

Posts: 5,987

Price: 6.25

No Opinion

RE: 1 Share sold at 16.3530 Aug 2024 09:55

Briggsy - why you not like seeing old posts again ?

Briggsy - when you’re in a hole common advice is to stop digging!

Using one of your favourite expressions - What in the world difference does it make you being on the West Coast of the US when you posted - if anything it makes your argument more irrational as it could be argued your 03:20 post Sunday was Saturday for you - ( you tell me Saturday posters need to get a life! ).

As always I’ll continue to engage with your ridiculous posting because I believe it’s cathartic for you and ultimately it might improve your thinking skills!

I’ve only replied to GarryGraham because I had the time tonight but, IMO, the incisive post of the day is here:-

Tobin

Posts: 1,134

Price: 5.75

No Opinion

RE: RE: $12.5M banked

Today 16:39

It is somewhat surprising though that the SP hasn't moved with the recent RNS. 

CEG remains a high risk play, or does it? 

There is a lot of potential upside here, and for £12million market cap, with now $12.5 million cash in the bank I think there is a good argument that CEG is undervalued.

“ 2. I do not have an expert knowledge of Chevron. “

This is quite a revelation GarryGraham as you clearly wanted readers here to believe you had, including apparent knowledge of their normal legal dealings:-

Here is a quote from one of my posts following the announcement of the Chevron deal:-


Whether the deal completes is another matter which I’ve opined about, historically, on a regular basis. I consider it extremely likely it will get over the line - whereas others, including, perversely, you GarryGraham, who claims to have filled his boots with shares since the Chevron RNS, appear somewhat less optimistic- even going as far as to introduce, with no evidence whatsoever, the idea that there will have been `slippery fish ’ conditions in the contract seemingly allowing Chevron to exit if the mood takes them! 


GarryGraham - “ For the record: 

1. I have never claimed to know more than the CEO. “ - that was your quote from yesterday’s post.

I never stated you claimed to know more than the CEO but I certainly believe you are extremely parsimonious with your praise, particularly as a claimed shareholder, for his magnificent achievement banking $12.5 million cash NOW plus potentially greater value in the future from the OFF-1 Chevron farm out alone! 


You also appear to be totally irrationally critical, as a claimed shareholder, of Eytan’s promotion of the Conjugate Orange Basin and Offshore Uruguay Exploration. Rational shareholders knew that CEG needed to farm out their licenses to profit from them, why wouldn’t the CEO promote them - I could see shareholders being upset if he didn’t, particularly if the Chevron deal had not completed! Below are a selection of your quotes :-

RE: Q

16 Sep 2024 14:33 - “ That said I have pretty much zero trust in Ulliel and his board and would have to open the curtains if they told me it was daylight !! ”

RE: Q

16 Sep 2024 09:53

Druid, - “ I think you may be over thinking it mate. I think the likes of a true oil company like Chevron would not even bother to report this in their accounts. The farm in to Chevron Is spare change down the back of a sofa to a company of this size whereas it is life and death to the cash cow called Challenger Energy and Eytan's supply of dough to maintain his writing and travelling, which he clearly loves to do as he describes himself as a serious author now online. Chevron wouldnt give it a second thought to renegotiate or cancel the deal they have a market capital of 257 billion. The Uruguay deal is probably well down their to do list and if it wasnt for Eytan's continual promotion no one would know anything about these oil licences and they are never promoted by anyone other our CEO. ”

RE: RNS tomorrow?

5 Sep 2024 - “ If you review carefully virtually every online article promoting the Uruguay oil blocks has Eytan Uliel's stamp all over. Show me an article from Shell or Chevron or any of the other majors. Eytan is now professing to be a serious " author ". Let's hope this farm in he has negotiated at 60/40 is not another work of his fiction. ”

RE: 1 Share sold at 16.35

29 Aug 2024 - “ Even if there is oil, the only company actively promoting the Uruguay offshore blocks is CEG and, in particular, Eytan Uliel, who is now promoting himself as a serious author, having written a number of award-winning fiction books. Google his name ! Maybe we are all buying into this fiction writer. Every online article on the Uruguay basin and its prospects is written or presented by Eytan Uliel.”

GarryGraham - I’m beginning to understand what’s going on in your head - it seems like you bought shares here ( allegedly ) in the belief you were buying into a well established major oil exploration and production company.

“ Why on earth ” ( LOL! ) would you think CEG were in that league - CEG, including predecessors, have, until the Chevron deal, failed to make a profit and have narrowly missed bankruptcy on more than one occasion, requiring massive shareholder fund raising on the way. Recently the CEO got lucky with his perspicacious involvement with offshore Uruguay and managed to strike a magnificent deal with Chevron yielding a cash payment of $12.5 million, plus other potentially more valuable additional benefits.

The banked cash alone is transformational FOR SUCH A SMALL COMPANY - it enables Eytan to take the company forward, assists in packaging OFF -3 for a possibility farm out and may involve some tweaking in Trinidad to improve assets, possibly with a view to more sales as seen with recent PRD deal.

I’m pleased you claim great knowledge of Chevron and are so awed with their size and market presence. I’m sure Eytan also holds them in high esteem and it must have been difficult not to have bitten off their hand immediately, knowing that Uruguayan Government would almost certainly welcome involvement from such a player bearing in mind they’d told CEG they had no chance of drilling without a deep pocketed partner!

Having, hopefully, explained that CEG are a minnow in the market it may be that you will want to reevaluate whether you are comfortable being involved with the share - it’s not for widows and orphans! For others who don’t have your perception problems they can see getting in at this early stage could well be a very profitable investment but please Garry DYOR and try reading some literature on investment in shares, I recommend the Government Sponsored website Money Helper.

Advice also goes out to John Briggs!

Briggsy/ GarryGraham - please educate the board by explaining why the Chevron payment of $12.5 million wasn’t a profitable bit of business for CEG!

I must admit I’m pretty amazed at the depths being plumbed here, trolls just don’t want to accept CEG struck a transformational deal - shocking!