Member Info for in4cedros

Jebgooner - you’re the one who seems touchy - I replied to your post on the basis you were genuinely ignorant about the history of CEG managing to achieve pole position on the grid.

I then painted a picture of how the possibility of obtaining the Uruguay licence was seen at the time by the trolls/disgruntled and by those who are optimistic for success. I include myself in the latter camp - I can only speak for myself but, at the time, I didn’t see Uruguay reaping $12.5 million, let alone all the potential.

You tell me you’re not in the troll/ disgruntled camp and I’m pleased to hear it although I’m happy to chat to that group cos it’s a chat board and I’m cathartic for them!

I’ve explained the rather fortuitous circumstances of the licences but acknowledged the great work done by CEO - the facts are all in the public domain - I’ve not seen any other poster suggest it was other than serendipity- if you think believe otherwise that’s clearly your prerogative but I’d suggest if you want to convince others you should demonstrate that you’re familiar with how the story evolved and then explain why the company narrative is not what it seems, if that’s what you’re getting at!

Jebgooner - regular readers here are well aware of how CEG were awarded the licences - the disgruntled/ troll cohort predictably pretty much insisted that if CEG were awarded it the value must be close to zilch but Eytan proved them wrong and pleasantly surprised many of his supporters.

The CEO admits he has been a little fortunate with timings of COVID pandemic and the announcement of the Conjugate Orange Basin but he should be heartily congratulated for making his own luck!

If you need to know more about the history after DYOR ask away - there’s no mystery here - info is all in public domain.

Jilted - take time out from wallowing in your own disgruntlement to watch the 2 videos recently flagged up by GMSunshine and Sam - they’ve even included the links for you.

BTW CEO has mentioned they plan to reopen wells on the new licence area in Trinidad but no one is suggesting it’s going to be transformational - just a bit of low cost tweaking to see how it goes - nothing like Uruguay- just calm yourself down!

Druid - I can’t recommend strongly enough the 2 videos which have recently had links posted by GMSunshine and my Monopoly playmate Sam!

Eytan appeared pretty optimistic that the regulatory approval would be granted in the next 3 months, this fits his timeline for eking out remaining cash in the coffers but in the overall scheme of things the cost of arranging a bridging loan to be repaid from Chevron bonanza $12.5 million ( like they did recently on Cory Moruga ) appears a small price to pay to allay concerns of those that worry about such matters!

Regarding Chevron the closest I’ve got to intimate examination is an extremely close shave on a twisty country road some years ago but the company is described as a Super Major and I’m led to believe the Uruguay Government will treat them as a father of 6 girls, past their first flush of youth, would treat the ideal comfortably rich suitor. Seriously having a wealthy, very experienced company in charge is close to best case scenario for the Government.

I see little chance of Chevron pulling out at this stage - they are old hands and must have a pretty comprehensive list of boxes to tick before agreeing to the deal and permitting its revelation. But, of course, those wanting absolute certainty should be wary, although if they worry about that I’m not sure O & G Exploration is something they should be anywhere near!

Re the videos often I’ve marvelled at Malcy’s ability to attempt to make a silk purse out of a sow’s ear without crossing that all important boundary of lying or misleading but this latest interview appeared less contrived, more relaxed and massively more informative.

Good luck to all shareholders here!

Will - perhaps the trolls on here heed the FCA warning before posting as I don’t often see the blatant lying and misleading which should come back on 12bn to bite him up the backside.

Jilted is just a disgruntled former shareholder who’s taken longer to get over it than most.

Obviously planted more than he was comfortable with on a high risk Oil Exploration & Production share - was his arm twisted, if so, by whom ?

Jilted - the SP is settling down after the recent excitement of the Chevron partnership announcement ( who was the doubting troll that said, about CEG, ' who on earth would want to partner with them ’ LOL! ) .

Eytan did cover this in recent Q&A and said something like he personally owned around 6% of the equity and wasn’t particularly concerned about any short term weakness in SP as the next 18/36 months will be the news filled development period.

If you’re bothered about short term weakness as a non shareholder I’m obviously very concerned for you as it suggests a huge void in your life - have a look at 12bn on the other channel and think whether you can match his decade of angst and more than 40,000 posts!

JohnBriggs

Posted in: CEG

Posts: 1,064

Price: 0.1075

No Opinion

RE: Deadlines23 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.

Jilted - ' who on earth would want to partner with them ’ - only little old Chevron Jilted!

SamManbi - if we were still playing Monopoly you’d certainly have earned your £200 passing go remuneration for posting that link!

Readers should note that Sam’s link is not associated with yesterday’s chat, where GMSunshine undoubtedly posted the link of the day - Sam’s link is to a Malcy interview with CEO which is hot off the press.

CEO certainly answers many questions about finance both short and longer term that I had been musing over and casts more light on the competing interests for OFF-1 and the appetite of Majors ( Druid et al take note! ) .

Re OFF-3 CEO answered the question which was at the back of my mind, as someone with limited O&G Exploration knowledge - how could the BP existing information be accessed and would that be super expensive? Listen to the interview to get that answer!

SamManbi - thanks for mentioning the presentation earlier today!

I didn’t think there was anyone around who hadn’t ever played Monopoly in their life - perhaps you never played the UK version - if so apologies you didn’t get my little joke!

BTW this is intended to be my last post tonight - wouldn’t want to be accused of monopolising!

GMSunshine - applaud your efforts to share the knowledge - the slides were on the CEG site but I missed that presentation from CEO and the answer to the immediate funds available question was interesting.

Put more colourfully seemingly CEO would prefer to eat his own meat and 2 veg before doing another Placing but if he’s reading this I’d caution against this for obvious reasons! If he believes he can hold out for 3/4 months imo he’d be better spending time now on a sensible contingency plan, such as bridging loan rather than panic in 3 months time and then be forced into a Placing. IMO that would be better for the SP - he did say he was struggling a bit to understand AIM - free advice for him!

CEG have more than their fair share of trolls who will highlight any weakness and some low life scum that lie and mislead to further their aim!

GMSunshine - excellent work with that link - not sure why GG hasn’t seen it!

GarryGraham - if you are going to get involved again may I recommend you do proper research this time positives and negatives and if you decide to invest have the courage of your own convictions- if it’s successful allow yourself a pat on the back if it fails blame yourself not BOD or posters on chat boards.

This is a high risk investment for grown ups who understand the risks not for Post Office account holders moving just one step along the spectrum !

Rant over Garry!

Sam - I’m hoping you’re not just a ' chancer ’ with no regard for the ' community rest’ (of) by pretending you have the MONOPOLY over critical information!

Sam - for clarification just tell us what was said about short term finance pending receipt of the $12.5 million from Chevron!

Sam - thanks for your contribution- for those who proceeded straight to Go and unfortunately missed Mayfair are you able to share any details with this board ?

Madmax - do you consider it unlikely CEG will be able to negotiate a short term loan to tide them over pending receipt of the $12.5 million from Chevron on a similar basis to that achieved recently regarding the Cory Moruga transaction ( see RNS if you are unaware of it ! )

I’m a fan of recycling - rinse & repeat for OFF-3 soon?

JWBellamy - I’d speculate CEO had multiple expressions of interest ( see W H Ireland note ) and he chose what BOD believed was best for the company. It’s a superb deal for a tiny company and offers phenomenal potential through a 40% share.

The BOD probably had offers on the table for a tiny free carry interest as an alternative and asked themselves are we a speculative O & G Exploration & Production Company or are we like a Post Office account with a one off small bonus payment. They would have assessed the likelihood of being able to finance the extra cost of the 40% participation option and they obviously believe there’s an appetite.

Yes there’s a big risk in this type of drill and it won’t suit some investors but I’d have thought anyone who’s a shareholder now given the history of the company is likely to be up for the speculastion but no one is having the arm twisted to continue.

It’s early days here who’s to say OFF-3 won’t get a fruity cash offer in the meantime which will swell the coffers- SP will, imo, also be influenced by other drilling in the area as development progresses.

Jilted - your problem is the leopard is mauling you big time at the moment- spots are now just a blur!

Even 12bn on the other channel has announced his epiphany moment that this share ' could be a winner ’ and he’s spent the last decade trolling with > 40,000 posts!

Nas - k - many thanks for that link - a wee bit of additional navigation necessary to access the March 2024 presentation but well worth it!

I’d advise trolls not to bother, unless they want to cry their eyes out again haha!