Member Info for in4cedros

In4cedros

Posts: 5,854

Price: 0.15

No Opinion

RE: Interesting to see..7 May 2024 07:47

JohnBriggs - ‘ hot air and froth ’ sleuth !

JohnBriggs

Posted in: CEG

Posts: 1,135

Price: 0.1075

No Opinion

RE: Deadlines

23 Feb 2024 10:37

Hahahaha, ah Luthee you really are the ultimate apologist. You fail to recognise that if a CEO comes out with a deadline such as fam out by Christmas and then that changes to oh now another 12 weeks, by end of Q1 2024 it makes them look naive and incompetent when these deadlines aren't met. All the while tie company is running on fumes. 

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. The industry and market never forgets those who mislead and default.

Briggsy - duped means some deception is evident- just point to any facts that were wrong in that video!

Briggsy - as you drew my attention to it I did watch and enjoyed - plenty of pictures so can appeal to challenged audiences - try not to be repelled by facts!

Maddog - I believe it’s just cathartic for John whereas GarryGraham attempts the timid troll stance by claiming he’s a shareholder!

Whilst you’re at it please pop over to 12bn on ADVFN and ask him - > 10 years & 40,000 posts

JohnBriggs - countdown clock certainly ticking on your famous ‘ Why on earth ‘ post - I don’t think I’m up to 10 yet but I’m pretty confident I’ll exceed that comfortably over the next few months!

I have limited time for these boards and it’s well known I concentrate on trolls as they usually present the more interesting challenge because good trolling is an art form as you are learning!

JohnBriggs - ‘ hot air and froth ’ sleuth !

JohnBriggs

Posted in: CEG

Posts: 1,135

Price: 0.1075

No Opinion

RE: Deadlines

23 Feb 2024 10:37

Hahahaha, ah Luthee you really are the ultimate apologist. You fail to recognise that if a CEO comes out with a deadline such as fam out by Christmas and then that changes to oh now another 12 weeks, by end of Q1 2024 it makes them look naive and incompetent when these deadlines aren't met. All the while tie company is running on fumes. 

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. The industry and market never forgets those who mislead and default.

GrowUp - thanks for clarification- FWIW I’m inclined to agree with the fund manager’s comment!

GarryGraham - I can only speak for myself but I welcome posters with challenging questions but, sadly, trolls like Brigsee and yourself find the challenge to come up with sensible questions beyond your capabilities!

GarryGraham

Posted in: CEG.L

Posts: 728

Price: 0.135

No Opinion

RE: Raya1drill

17 Apr 2024 16:27

Total Energies plc Drilled to a record low of 3400 metres in an area not far from Block 1, and the only thing they discovered was 

DUST. GG

GarryGraham

Posted in: CEG.L

Posts: 728

Price: 0.1425

No Opinion

RE: Added

12 Apr 2024 12:01

I have added to my load today and intend to add further. Im balls deep anyway so a few grand more is just going to bring the average down and if the miracle happens my Grand-daughter is looked after. Its only money lot's more important things in life. GG

You’ve got to applaud GarryGraham for his novel approach to share ownership - claim to be ‘ balls deep ‘ for the benefit of family!

JohnBriggs - see the quote from your most recent post below:-

‘ HIgh risk, low chance of reward. Avoid like the plague until Chevron puts money where its mouth is and post consolidation’

Does that mean you’ll be filling your boots with shares post completion by Chevron of the $12.5 million payment, after the subsequent consolidation?

GarryGraham - Surely if you are claiming to preach to the naïve investors on this high risk Oil Exploration share you wouldn’t omit the positive ramifications for the SP when the consolidation completes as mentioned by jbt! Quite frankly Garry I’m doubting more and more that you’re risking grandchildren money in this - surely if you thought you would lose shares at the rate of 50:1 without a compensatory uplift in SP you’d have sold out !

Below is one of my previous posts about timid trolls - beware particularly those that share their personal information claiming to be widow/orphan / investing in high risk AIM for grandchildren!

in4cedros

Posted in: CEG

Posts: 5,844

Price: 0.145

No Opinion

Timid Trolling!

25 Mar 2024 16:45

Willec - GarryGraham is an interesting case study on the Trolling spectrum - as the heading suggests he is a Timid Troll - instead of slating the company he pops up from time to time, makes some neutral/ positive comments, whinges a bit then slips in the negative comment. 

I remember the pattern from the lead up to the Bahamas drill - found it difficult to believe he’d actually invested having regard to his state of anguish he’d been in then, when it failed, the buyers remorse kicked in big time! 

If his posts are genuine it’s difficult to understand why someone with that attitude is prepared to go another 10 rounds with the company on a new drill venture whilst pooping their pants at each stage. 

Furthermore in such a scenario why highlight negatives if you are genuinely invested - by way of example I give you fairly recent post where instead of just saying the Chevron deal is not complete until everything is agreed, including Government approval he decided to speculate that Chevron had included last minute caveats in the deal. He may be correct but why introduce that little bit of extra speculation based on zero knowledge - I could easily speculate that Chevron have done so many deals historically they have a rigorous tick box list to complete and want to see all the evidence before they even release the news they’ve done a deal because pulling out at the last moment suggests they didn’t do proper due diligence in the first place which is not great for a Super Major! 

I wish all shareholders success in this venture - there’s plenty of proper trolls about - they don’t need your help!

I wouldn’t want any of the well behaved trolls on here to take any inspiration from the hate poster on the other channel, over 40,000 posts > 10 years, but it’s got to be a positive sign when trolls are so desperate they make stuff up !

12bn24 Apr '24 - 08:56 - 21218 of 21232

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So everything depends on the Chevron deal completing in SEVERAL months time. This may not complete at all if Chevron decide the 3D seismics don't warrant a completion. This means your shares could end up with very little value at all and several months time things could change a lot. RISKY.

arrynillson24 Apr '24 - 10:26 - 21219 of 21232 Edit

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Disgraced Compulsive Liar 12bn - there you go again with your lying - why make up this shyte !

The Chevron deal is subject to approval from Uruguay Government, that much is true but why make up that it’s also dependent on seismic ?

Always the same 12bn - when you’re on the ropes you become more and more desperate - people on here know that - it’s why you’ve got a FILTER LIST LONGER THAN SCHINDLER!

I’m posting up below relevant paragraphs from the RNS dealing with the Chevron deal. The cost of 3D seismic is clearly not cheap, up to $15 million mentioned in the RNS.

Try and follow the logic here 12bn, BEFORE Charlestown financing announcement you were telling us daily, sometimes multiple times daily, that CEG were rapidly running out of money. How did you think that CEG would complete 3D seismic, before completion of the Chevron deal LOL!!!!!!

· Chevron will pay to CEG US$12.5 million cash on completion of the Transaction, these funds will be used to support the further development of the Company's business.

· Chevron will carry 100% of CEG Uruguay's share of the costs associated with a 3D seismic campaign on AREA OFF-1, up to a maximum of US$15 million net to CEG Uruguay.

· Following the 3D seismic campaign, should Chevron decide to drill an initial exploration well on the AREA-OFF 1 block, Chevron will carry 50% of CEG Uruguay's share of costs associated with that well, up to a maximum of US$20 million net to CEG Uruguay.

Hi Andy - thanks to jbt for his answer.

The confusion arose because Eytan just listed the requirements of Charlestown for conversion of the loan into shares in the RNS - I can see how it can be construed differently but it’s clear now shareholders will get their opportunity to vote on it.

GarryGraham - are you sure this share is suitable for your risk profile?

GarryGraham

Posted in: CEG

Posts: 724

Price: 0.1425

No Opinion

RE: Added12 Apr 2024 12:01

I have added to my load today and intend to add further. Im balls deep anyway so a few grand more is just going to bring the average down and if the miracle happens my Grand-daughter is looked after. Its only money lot's more important things in life. GG

GG - as you are ‘ balls deep anyway ‘ I can see this consolidation is a worry for you. Have you sold out in the meantime with a view to buying back after consolidation has adversely affected the SP - if so are you worried that positive sentiment in the intervening period might negate any potential impact from consolidation ( if , indeed, there is any at all! ).?

Druid- GY670 was the best of the recent Trinidad wells. It did lose pressure from the initial heady heights but continued to produce respectable daily barrels for many years. Ritson mentioned a couple of years post drill that it was still managing 30 bopd.

Management decided that fresh drilling in that area would have a good chance of hitting that pocket but they suffered the lost equipment issue and had no money to try again.

If the company was better resourced it would have persisted with drilling in that area as an additional well can be used to support water flood or CO2 injection.

CERP was always under capitalised - when Ritson was able to borrow enough for 3 drills he went for it big time but it was ultra high risk with borrowed cash as there was no room for failure and he took to company close to bankruptcy, requiring recapitalisation at huge cost to shareholders.

Ploughing on regardless with borrowed money was reckless with shareholder value.

When Koot took over he used his personality to raise cash for the Saffron project in Cedros. It could have worked but didn’t, after 2 goes.

Now focus is, quite rightly, on Uruguay. As has been mentioned if Chevron decide to drill CEG have a great opportunity to participate and if they choose not to raise cash for it Eytan says they are permitted to trade part of the share to a third party.

Whether they decide on such a course of action largely depends on Eytan’s soundings from the group of large shareholders, which prior to Charlestown, were largely Australian based.

What will be will be but plenty of opportunities for shareholders to stick/twist/sell along the line - a very exciting opportunity with news flow to keep everyone interested!

InterestKing - Trinidad business pretty much breaks even at current production levels, ignoring the G&A of CEG, substantially BOD salaries.

The Goudron licence is main producer. From memory CEG only earn about $7 per barrel on first 150 barrels per month - thereafter rate is better and over 300 rate is even better.

All fresh faced CEOs look at the numbers and think - if only I can get production up to say 450 bopd at Goudron business will be transformed. Problem is investment needed and successive CEOs have all been cash strapped - they’ve raised cash but it’s been for specific projects like new drill on Cedros ( Saffron) - shareholders don’t like to cough up for boring Goudron .

If CEG do have a bit of cash spare after advancing Uruguay they may be able to make Goudron more viable which may increase the value if they want to get shot of it ultimately. PRD have bought Cory Moruga and will be applying their CO2 injection process to it- CEG will watch with interest.

I’m not saying any more about Trinidad because most people don’t want to know - Uruguay is the sexy number now!

Cedros peninsula is SW Trinidad where some areas ouse oil naturally at surface. At Galpha point oil bearing rock is visible at the beach. At that beach it’s possible to see Offshore oil platforms in the Venezuelan basin where oil has been successfully extracted for many years.

Many have suggested that a deep drill onshore at Cedros may yield similar bounty but depth is required, ideally 15,000 feet and that costs a huge amount. CERP under Koot managed to finance two drills, at shallower levels, but was commercially unsuccessful.

CEG still have license and it wouldn’t surprise me if it was sold for many millions as part of the stated strategic plan.

GarryGraham- as a claimed Manchester City fan you should be acutely aware that fortunes can change, especially when some investment is introduced!

GarryGraham - how is the Charlestown deal a first step to dilution bearing in mind the conversion of the loan and Warrants are both at a premium to SP?

A share consolidation, per se, is not dilutive.

This is just more Timid Trolling trotting out the historical information and suggesting history will repeat itself. Yes it can - I expect the SP to advance in the build up period and it will almost certainly fall if there’s a duster- who would disagree with that.

If, however, the drill is ultimately successful, history of scenarios involving other companies, not CEG, suggests the SP will boom spectacularly!

The above 2 scenarios are the crux of buying shares in an Exploration Model - your dilution suggestion is pure tosh !