Member Info for in4cedros

Briggsy - as one of the disgruntled I know it’s difficult for you to see the bigger picture but making savings of over $1 million per annum in running costs from the recent 2 sales is huge. Additionally getting in over $3 million cash near term is immense so that they can raise any new cash from a stronger position, rather than 0.04p - thereby ‘ delivering shareholder value’ for which the BOD get paid.

Briggsy - I look forward to your detailed counter valuation of these assets LOL!

Mick - the CEG website is the go to source with maps and brief description.

Briggsy - they’re doing a remarkable job - annual savings of more than $1 million per annum from this disposal and Cory Moruga and keeping assets currently producing 90% of oil, not to mention the $3 million near term cash - as a disgruntled ex-shareholder don’t you think the BOD have made the right decision for the existing shareholders.

Chesh - still luv ya mate - some of these trolls just don’t know how to respond to a ‘ bright spark’ !

Re previous post should be G&A ‘ deficit ‘.

The company wanted to use profits from Trinidad production to reduce the deficit and have made some inroads but the planned production increase has yet to materialise- we await details of Trinidad campaign.

Druid - details are in RNS, including cash component.

As G&A was running at $200,000 monthly the savings on transfer of Cory Moruga, at over $52,000 monthly will be most welcomed by shareholders, except the disgruntled cohort LOL!

Brigsee - I’d be interested to hear your business reasons why the BOD shouldn’t have accepted the offer of aggregate $9 million for Cory Moruga given that it wasn’t able to develop the asset, it was non producing and it was costing over $600,000 per annum.

Just came across the 03/01/2023 presentation on CEG website - the following nugget stood out to me:-

Recent mega-discoveries in the Conjugate Orange Basin ( Offshore Namibia )by Total and Shell de-risk the Aptian turbidite play.

How’s that one Starchild?

romaron - happy new year - keep on challenging!

Brigsee - that’s better - I’m pleased you’re happy if they can do a deal - i like to post about facts and possibilities!

It may be necessary to Place to finance development - existing shareholders will surely be aware of that - most have entered before or after a Placing.

Thanks for your warning - i hope your disgruntlement will ease with time.

Brigsee - if you can guarantee that the management here won’t farm out Uruguay you will be performing a useful service - are you able to do that either personally or with the disgruntled ex-shareholder group ?

Brigsee - may well be - why does that bother the disgruntled ex-shareholder cohort?

Glad you appreciated my historical information about the company’s farm out experience!

Brigsee - I remember the company entering into an exclusive agreement with a major on the Bahamas opportunity where they received $750,000 for access to data with a view to the possibility of a farm out - that it didn’t ultimately end in farm out is history- obviously the disgruntled cohort don’t want to see the possibility that things may be different this time.

Why do you regard the company promoting it’s own interests as shameful - would it be better for shareholders if they didn’t publicise the FACT THAT there is a high level of interest from corporate majors in Uruguay exploration ?

Brigsee - may I offer sincere apologies to you as one of the disgruntled ex-shareholder cohort that you found the latest RNS reporting interesting facts about Uruguay so upsetting!

Be sure to keep tuned to this channel in 2023 to find the answers ralla!

Those that take an interest in this share - even the haters group - will probably find Malcy’s blog regarding the Uruguay bidding informative - seems like demand exceeded supply - implications are discussed therein!

Hollybean - continuing the rented property analogy CEG have got rid of a boarded up site that wasn’t yielding any rent and was costing more than $56,000 monthly.

They already have other sites where rent is coming in but with considerable potential for increases - management are working on such development- we await the results of their recent campaign- in the meantime the $2 million ( plus ) will come in handy!

Rejoice!

JohnBriggs - clearly the significance of the highlighted information has gone over your head - CEG themselves obviously believed it was significant because they included it in the press release - $56,000 per month may not be much to an investor like yourself but to CEG it’s a major saving!