Member Info for in4cedros

Druid - there you go again ramping the idea that Shell are our favoured suitor- for the record the CEO hasn’t released the pecking order yet - from what he’s said this certainly isn’t a one horse race !

Druid - I didn’t hear CEO specifying who the farm out partner will be, probably odds against Shell as they will probably develop own area first but I’m liking your positive attitude!

Ab76 - thanks for your recent post regarding Trinidad licence.

Srdoddy - in your previous post you referred to licences ( plural ) so I assumed you were concerned about the Uruguay situation which is free of charge in terms of annual fees but is clearly subject to fulfilment of work obligations, which CEG have accelerated on the first licence.

I also read the RNS and was surprised you were concerned about the Trinidad licence ahead of knowing the actual terms . Many thanks to the recent poster who put meat on the bone in that respect.

GG - I did posit an explanation for BP walking away some years ago - they did not know, at that time, how successful the drilling in Namibia would be. This is now known and the link to the Conjugate Orange Basin appears to be widely accepted by Majors - hence the interest from Shell et al. This development is significant because the prize on success is huge so it affects the risk/ reward assessment. I then went on to say that BP have now changed their stance on new exploration projects under new CEO Looney so even the new information probably wouldn’t justify a reassessment of the project.

Srd - what are the terms of the new licenses that you are concerned about - shareholders might be interested if you have the facts?

Briggsy - most of the recent Uruguay license awards have been uncontested- does that affect the potential of the license?

I notice you now feel confident to advise on the state of CEG finances ‘ for sure ‘ - this is quite a departure for you - care to share your detailed calculations - I doubt it !

Briggsy - I’ll be very pleased for shareholders if this does, indeed, turn out to be a master stroke.

Obviously that won’t please the legion of trolls out there but no one begged them to become involved here, knowing the company’s activities were always highly speculative!

GG - as for strategy of taking the additional license it’s certainly a bold move which could be a master stroke if Uruguay becomes a proven oil hot spot but it may well take more time than is being talked about so that shareholders may have to dip again if they can’t sell other assets but the current shareholder base seems willing to back board even though the ‘ disgruntled ’ cohort seem to hold sway here!

GG - thanks for attempting to generate a reasonable discussion on here! Although you haven’t said it I’ve seen the usual suspect trolls posting up the line if BP rejected it it must be carp!

This is not unexpected and is an easy knee jerk reaction but it should be considered with facts!

When BP withdrew the Conjugate Orange Basin link had not been made with such strong evidence- hence current clamour for licences. Secondly if you Google BP and CEO Looney you’ll understand that with new very tight criteria it’s unlikely they’d consider even the sexy new Uruguay variant!

Madmax - its on recent directors talk video - CEO says production is up - but no specific figures provided - wait for RNS update.

Gazza - glad you’re keeping up with developments - I agree Shell are unlikely to partner us at the moment as they will probably want to check out their own allotted area first. However it’s easy to verify the topical interest in offshore Uruguay and the CEG licence appears attractive because the work commitments are modest and they have already identified 3 sites of particular interest so it’s potentially an enticing prospect.

I don’t expect the disgruntled cohort to agree neither am I guaranteeing they’ll get a suitor but the disgruntled cohort aren’t guaranteeing they won’t - it’s a speculation - don’t speculate and then become a Moaning Minnie if you’re unsuccessful!

GG - thinking about your shareholding in the context of a carrot is clearly your prerogative but what about when spud season approaches - allotment holders may well be very pleased !

Cheer up Gazza try and see the positives - but if being disgruntled and disillusioned makes you happy carry on - difficult for me to discriminate between genuine hardship cases and blatant trolling so no change likely from me!

Have you thought about taking legal action against the party that recommended you invest in a high risk oil exploration and production company?

GG - this is an oil exploration and production company - no surprises the MO is similar to last time - the desperate disillusioned cohort don’t want to talk about the FACT a major oiler paid them $750,000 for exclusive data room access over 3 months - it was a shame for shareholders they didn’t find a partner and decided to go it alone but it could have been worse if haircuts approaching $20 million were not agreed!

Will it be any different this time - YES - they don’t have ability to go it alone and Uruguay Government has advised they want a deep pocketed major to drill in case someone goes wrong so it’s down to the farm out. No guarantees they’ll get it GG but surely you’re not surprised they are trying and CEO is commendably enthusiastic, with apparent justification!

If you don’t like the risks don’t invest - no one having arms twisted Gazza!

Briggsy - the only credible guarantee I’d accept from you would be a pledge to continue whinging, whining and bleating no matter how this company develops!

Madmax - that seller you posted about Monday seemed well informed LOL - perhaps the > 362 million buyer knew more !

Odd amounts to sell - no significant price reduction - suggests MMs are confident they’ll find willing buyers fit their turn.

It could be argued the > 362 million buy weeks ago might be more significant if you believe people trade on solid information!

Briggsy - most people are aware that the Bahamas drill did proceed!

I haven’t seen any indication that Uruguay want drills to go ahead so they can stop production and claim carbon credits but if you have please share your information.

Briggsy - I think you are getting a bit ahead of the facts - let’s see the results of the survey before concerning ourselves with restrictions - looks like there’s plenty of areas on that map for a potential drill - but I can understand why the disgruntled don’t see it that way !

Uruguay aren’t going to make significant funds from licences unless they permit drilling so reasonable proposals that respect the protected sites are likely to get the green light imo !

Druid - never say never to a fund raise but instead of your usual disgruntled whinging why not share with us why you believe a fund raiser or consolidation is on the cards given the current cash position - historically such moves have been fairly predictable from the published fundamentals!