Member Info for in4cedros

Thanks Troajen!

GarryGraham - lifted from Proactive interview

Proactive: In the meantime, business as usual with your core assets in Trinidad and Tobago?

Eytan Uliel: Business as usual. I’ve made no secret of the fact that it's been hard going. We originally purchased these assets through a merger, and the expectation was that we’d be able to apply an assortment of mature oilfield management techniques and enhanced oil recovery (EOR) projects to really boost production. However, the age and character of the fields meant that this hasn't happened. So, last year we shifted strategy.

The idea was to at least get these fields to a place where they cover their own costs and break even operationally. Anything that's non-core, we would dispose of, exit, or monetize in some way. We’ve done really well with that revised plan. We've gotten rid of a bunch of non-core assets, sold a few, and exited a couple. And for the remaining assets, we’ve focused on stabilizing production and reducing costs.

We've achieved that, and now the fields are breaking even. This gives us some space over the next little while to decide how to take that business to the next stage. We need to find a way to improve the profitability of those assets or monetize them and focus more on Uruguay.

GarryGraham - I clearly wasn’t suggesting they spend $12.5 million on Trinidad but those that follow the company know that the Trinity Inniss field has been designated as a core asset by the company and they have already told us that it needs investment capital to increase production.

If you bother to read the company information you’ll learn that Trinidad wells are ` breaking even ’ taking account of the expenses solely relating to Trinidad including the Trinidad staff. There are other company expenses not specifically Trinidad, including BOD salaries which constitute the balance of financial drain. ( Almost certainly incudes travel and accommodation for Eytan to Uruguay on occasions to develop CEG interest there - presumably you’re ok with that! ).

Interestingly Trinidad wells run by CEG and forebears haven’t ever made a profit for the company as a whole so you cold have made your comment pretty much every year for last decade, however if you’d have been successful the company would have ceased and all shareholder value would have gone so you wouldn’t have had your shares rescued by the Trinidad assets in the wake of the Bahamas flop you seem so upset about!

Closure of the company would have meant that they wouldn’t have acquired the Uruguay licences which you are now so enthusiastic about you claimed to have increased your holding, even though you apparently had significant doubts you chose to regularly ventilate here that the Chevron deal would complete LOL!

GarryGraham - what about spending a little capital from the $12.5 million on increasing production in Trinidad so that G & A costs are covered as well - then if they want to sell fields they will get better price - you’ve seen that fields in Trinidad can be quite valuable ( see Predator settlement ).

As a claimed substantial shareholder with lots of mates who are also invested you could put your idea up at next AGM alongside your personal thanks to the CEO for negotiating such a magnificent farm out deal with Chevron!

Blackbat- much in agreement but 12bn on the other channel was urging readers to sell @0.06p ( 3p new money ) because HE didn’t believe a farm out could be obtained cos it was taking too long - other trolls advanced equally ridiculous reasons for pessimism.

Since then SP has more than doubled due to Chevron deal and I wouldn’t be surprised if there was more growth when the $12.5 million becomes due, with all the attendant publicity. Any trolls left on the pitch at that time will be calling for a new manager!

IK - good job my fingers weren’t allowed in FOREX - £12.5 million would be better but not on the table !

K - 12.5 million is a big number in £ or $ but CEG will prefer $!

Interim Results - pretty much as expected I’d suggest. The main focus is , quite rightly, understandably on Uruguay and closure and development of the Chevron deal.

I could lament on the delay as it has taken longer than was originally suggested but sometimes it’s necessary to consider the dynamics in the strength of negotiation positions and practice diplomacy.

I could also lament that I may need to take a new moniker - something catchy like out4cedros LOL as there was new information in the results about that Trinidad license. I don’t have any additional information and hadn’t appreciated the depth of the dispute but it appears the BOD have handled it pragmatically.

I speculate that when CEG receives the $12.5 million they may use a small amount of it to improve the estate in Trinidad because increases in production there exponentially improve field profitability due to the contract incentives in the deal with Trinidad Government.

There have been lots of false dawns regarding plans to increase production in Trinidad so if I was CEO I’d probably proceed and then crow about it if successful. That’s not easy to do if company needs to borrow to finance it or raise from shareholders but spending own cash is more acceptable.

As I say complete speculation on my part and I’m happy for Trinidad to be a back burner as it’s not in same league as Uruguay for potential but most people are well aware of Uruguay opportunity hence my comment on Trinidad just for background and because it got more than a mention in the results.

ATB shareholders!

JohnBriggs

Posted in: CEG

Posts: 1,239

Price: 6.125

No Opinion

RE: Cheer up. There are worse people off than you.

10 Aug 2024 16:26

Irrational posting from you more like, in4cedros. 

Two posts hours apart on a Saturday - get a life LOL

Briggsy - as I said trolls getting increasingly desperate - wow weekend posting is ok with you now!

Mr.gez - Malcy is surely entitled to express his opinion and is responsible for his own credibility. I don’t follow him closely but as I said earlier I haven’t seen evidence that he lies - being optimistic is not lying!

Much of his comments relate to small capital stocks that are less well covered by observers than the big companies - people need to be particularly vigilant with DYOR on such stocks. This is clearly not always the case - GarryGraham being a classic example on this board!

You all seem to be aware that Malcy presents a positive case where he can - I’ve not seen him lie, unlike many Trolls and he is usually able to access top management, something most posters usually can’t/ don’t do so his posts have value and I certainly enjoy reading them even if they may not stimulate me sufficiently to buy into them.

Posters should clearly DYOR particularly on AIM Oil Exploration and Production stocks.

Briggsy - as we’ve discussed before Eytan does read your comments - I can imagine him at dinner parties recalling your famous line ‘ 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 ’ LOL - never gets old does it John?

Arrynillson25 Sep '24 - 16:35 - 21665 of 21665 Edit

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12bn - the Summit is preceded by a How Much Crow Can You Eat competition where you have top priority seat at the table - Humble Pie served for dessert!

If you hurry spaces still available for other Clowns and Jokers!

Briggsy & GarryGraham - recently heard that Stealers Wheel song again and it got me thinking of you two, not sure why LOL! :-

` Clowns to the left of me

Jokers to the right

here I am stuck in the middle with you ’

GarryGraham I’d suggest I’m the realist as I’m focussed on the deal with Chevron that’s been RNS yielding $12.5 million to CEG on completion IRRESPECTIVE OF ANY OIL !

Look at market capitalisation and do the maths, if you can, about relationship to current SP! Trolls will become doubly incontinent when the cash hits CEG wouldn’t you agree Garry

In4cedros

Posts: 5,945

Price: 7.00

No Opinion

RE: RnsToday 10:38

Briggsy - as we’ve discussed before Eytan does read your comments - I can imagine him at dinner parties recalling your famous line ‘ 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 ’ LOL - never gets old does it John?

`This is exceptionally good news for Challenger and I remain very excited indeed about its prospects under the brilliant management of Eytan Uliel and team. This is only the first of the blocks to be farmed-out and when Chevron moves into the AREA OFF-1 the CEG team will move faster on the other one although I know they are working hard already.

Up until now I have been very bullish but have had no TP for CEG, I am now very confident that this deal is imminent and another one not far behind. Accordingly I am going to put a Target Price on Challenger of 25p and know that there is uber upside for the shares under this management. ’

GarryGraham this a quote from Malcy today I’m particularly gratified by his praise for Eytan - obviously you may know more than him but it wouldn’t surprise me if he’s had some recent contact with CEG.

GarryGraham - as an alleged shareholder ( aka Timid Troll ) I didn’t want Briggsy to feel singled out so here’s your quote from 16/09/2024 - ` 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!! ’

One wonders what you would post if you weren’t a claimed shareholder!

Briggsy - as we’ve discussed before Eytan does read your comments - I can imagine him at dinner parties recalling your famous line ‘ 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 ’ LOL - never gets old does it John?

Zag & Briggsy - bit disappointed in your trolling surely you should persist to the very end that the deal won’t go ahead no matter how ludicrous that may seem rather than weeping and teeth gnashing that the current rise in SP isn’t enough!