Member Info for in4cedros

You’re not wong53 - 108 million was a delayed buy - even Disgraced Compulsive Liar 12bn on the other channel agrees - sorry if it upsets you Jilted John!

You’re not wong53 - 108 million was a delayed buy - even Disgraced Compulsive Liar 12bn on the other channel agrees - sorry if it upsets you Jilted John!

You’re not wong53. - Jilted John will be panicking soon!

Jilted John - apologies that the last RNS wasn’t negative enough for you - others see it as company being debt free with surplus from the $1 million being quite handy over next few months.

Noticed you didn't mention CEO oozing confidence he will get the farm out shortly in the video !

Will - CEO certainly shares your confidence - cohones of steel !

BlackBat17 - ……….( cont) but don’t have cash to drill so need to farm out . The trolls don’t like the idea they might get a farm out so regularly post that it’s highly unlikely and cite the fact they didn’t agree a farm out for Bahamas drill as a reason why it’s not going to happen this time !

I merely point out that these are different scenarios and may have different outcomes but trolls find that upsetting!

BlackBat17 - apologies for piquing your interest, sadly the RNS I was referring to is old news dating back to the company drilling a well in the Bahamas when it was trading as BPC.

Lots of people lost hugely on this company when the drill failed and can’t forgive the company for not striking it rich, they obviously find it cathartic to whinge and whine on here and end up believing falsehoods, presumably because it makes them feel better about their decisions.

CEG have little money and currently the Trinidad side, although profitable, doesn’t make enough to cover company G&A. They do have 2 Uruguay licenses in what’s now considered to be a hot spot………

Druid - just post up your evidence for the ‘ hoax ‘ - I saw nothing from the company guaranteeing a farm - out but I did see RNS stating a company had agreed to pay $750,000 for the exclusive data room opportunity.

I did read lots of posts on here expressing optimism for the farm out , perhaps it was those that persuaded you to invest or continue to hold - none from me, I hasten to add, because it was clear to me that it was not guaranteed.

Regarding Uruguay CEO is optimistic he will achieve a farm out and I hope he does for the benefit of shareholders but it’s not guaranteed!

Zag - a company paid $750,000 for exclusive data room access relating to Bahamas opportunity - it’s in the RNS.

Will - CEG have withdrawn from Suriname.

Zag - I’m even more disappointed now you’ve told me you remember the ' shot in the dark ’ nature of the original licence application!

Face facts even if you argue CEG got lucky regarding the subsequent Namibian association that OFF 1 licence looks to be in a sought after position.

ZagEgypt - I’m really disappointed your losses have embittered you so much that you can’t accept the facts here - CEG applied for OFF -1 years ago when Uruguay was not the hot spot it subsequently became because of the association with the Namibian Basin!

Will - the results were, broadly speaking, in line with expectations ( except those of Trolls ! ) .

There is, however, concern about the other RNS indicating more than 770 million shares being added next week. Some have probably been pre- sold creating downward selling pressure on SP but this size overhang is not a positive for the SP, short term , IMO.

I don’t have personal knowledge of Oz investors funds but I doubt raising a few million will be a problem in the circumstances but I’m not taking anything for granted - may you live in interesting times is old Chinese saying - we will see next week!

I believe CEO will have to work hard over the weekend to try and put funds into the company so that normal business activities can continue, given the likelihood of intense selling pressure on SP Monday morning.

The most likely scenario is a Placing , IMO, the interim accounts looked OK and $2 million is due for Cory Moruga sale - I reckon Oz shareholders will come across with some cash but it may not be pretty.

If I was them I’d certainly be looking for BOD to cut pay and take favourable share options as recompense so that shareholders and BOD are more closely aligned.

There are 2 new RNS which can be accessed by Google at Investegate RNS CEG.

One is the interim results which are consistent with expectations, the other relates to issue of new shares. The contractor shares were known about from previous RNS and I suspected this was contributing to selling pressure however the lender has also converted the loan into shares which they will probably be wanting to sell asap.

Next week will be very important in the history of this company..

Re post timed at 11:05 -

BigLie2 - re your post 18120 I thought you might be interested in the company statement from the 2022 results RNS, published 29/06/2023 - not very long ago!

'Once core assets had been prioritised, we were better able to schedule equipment movements and workovers in support of those assets alone, and we were able to reshape our staff base, operations, and other costs to better "t" the needs of those specic assets. We also switched many of the smaller producing wells over to continuous swabbing - an operational approach that meant we would no longer be chasing increased production from those smaller wells, but at the same time also meant we could run those wells at a fraction of the cost of continually working the wells over. In terms of outcomes, this new focus saw production through 2022 holding constant, total operating expenses and G&A reduced, and positive net operating cashow across 2022 (which represents a substantial improvement on 2021, where the Trinidad business had incurred a net operating cash decit).’

Druid - trolls were saying nothing to sell when company was in trouble after P1 failure - subsequently they’ve found plenty to sell and there’s more in the portfolio. Cory Moruga should complete soon , potentially US$ 3 million over 6 months - that’s a lot for ' nothing ’!

Cyber - it’s been RNS’d.

I hope you’re not suggesting contributors on here are morons Jilted John LOL!