Member Info for in4cedros

Even more rejoicing to be done once shareholders appreciate the cash flow benefit of Cory Morunga licence sale - according to Malcy’s blog ‘ in the year to 31/12/2021 T-Rex made a loss of US$674,000, largely reflected of the annual licence fees and dues in respect of Cory Morunga licence.’

This is a huge saving in excess of US$56,000 per month - more than 25% of the annual G&A deficit , which the company are striving to fund from Trinidad profits!

JohnBriggs - you should be on PRD hammering management for giving up litigation claim exceeding $100 million- who does that with a slam dunk case LOL!

JohnBriggs - just post up where CEG have admitted there was merit in PRD claim - the fact they removed any chance of litigation biting them up the backside in the future would seem to be a prudent move - wouldn’t you have included it if you were CEO?

They’ve sold an asset which was non productive , in their hands, and having ongoing costs, to an organisation that has resources and expertise to develop it - for $2 million cash plus- what’s not to like - unless you are just a hater?

Rejoice at the wonderful news in today’s RNS - the haters have been out in force over on ADVFN with supercharged levels of wailing and teeth gnashing so I’m interpreting that as very good news indeed for this company!

Looking forward to Malcy giving it large shortly after the mince pies have done their rounds !

Lancy - all the best to you for the festive season and new year !

Today’s RNS was wonderful news for CEG and I believe your team here at PRD will generate a good result with the asset as they know the history and I’m confident they have the expertise to unlock the huge potential!

Micktrick - always good to chat - I’m starting to believe my love in suggestion now!

Mick - we’ve gone from a potential > $100 million divorce suit to a love fest - what’s going on with PRD and CEG!

Proxy form with resolutions on CEG website.

Etyan sends his best regards to you Briggsee - I believe he had a bottle of sour grapes, on ice, ready for any haters that attended!

LayLadyLay - thanks for pointing out that schoolboy error in the RNS - indefensible but I doubt it had a material impact whereas your schoolboy HOWLER was credibility destroying - you posted on the day before final years accounts were due ‘ I just checked on Companies House and it looks like there will be no accounts posted tomorrow ‘ - what were you thinking - ROFLMAO!

tradedesk - post reset G&A outside Trinidad was targeted to be less than $200,000 monthly, that’s circa $1,800,000 over 9 months against $600.000 you’ve mentioned. Sadly for shareholders, the lack of success in raising production significantly may well result in further recapitalisation.

tradedesk - it’s refreshing, on here, to see posts which are not from the historically disgruntled cohort - good to see your enthusiasm.

‘ why pay £200 million when you can farm into Challenger’s block and not be obligated to spend as much? ‘ - if it was as simple as you suggest Apache or Shell would probably have done the deal with CEG already as CEG ‘s farm in would, presumably, cost less than £200 million!

From the recent VOX podcast on CEG website it says ‘ The aggregate value of work committed across blocks OFF-2, OFF-6 & OFF-7 by Shell and APA Corporation ( formally Apache ) in the next 4 years in respect of both technical and exploration activities including WELL DRILLING BY APA CORPORATION, is stated by ANCAP to be approximately US $200 million ‘

It’s clear the $200 million includes drilling costs committed by Apache - the licence costs much less - CEG licence may ultimately prove to have most potential but it appears logical to me that those who’ve already been granted licences will seek to exploit them first unless you have data suggesting CEG block is preferable to others.

tradedesk - as Shell have their own block won’t they want to develop that before getting interested in a neighbour’s property ? Obviously if the seismic suggests CEG area has better COS than Shell ‘s licence area that may change their view - are you able to make the case for superior seismic potential on the CEG licence- if so I’d be interested to see your data - the information I’ve seen suggests detailed seismic has yet to be developed by CEG and they will be progressing it over the next few years!

Icemax - yes we had a contributor on the other channel who suggested his recent investment was on the back of Dubbo TR1 local news.

Were you the guy who used to monitor maritime shipping to tell us where the Icemax drilling vessel was - if you are perhaps you could let Druid know as he seems to be unsure about Perseverance 1 drilling !

Before anyone else cracks it - ‘ do you think shareholders should be worried about a MASS exodus? ‘ LOL

Srdoddy - Perseverance 1 was drilled - all the evidence I’ve seen supports that . You rightly point out there were legal issues beforehand but the action group against the drill had friends in high places and I believe if they could have obtained an injunction they would have sought it.

I’m not sure why you are still agonising over this drill. We know it was a failure and I believe the SP reflected the results of the drill as reported by the company . If the company had issued a more comprehensive report do you think that would have changed anything - the company swiftly abandoned the idea of any further drilling - that says a lot!

Regarding the liability for the engineering issue that’s difficult to determine without sight of the small print - I suspect if BPC thought they had a cast iron case they may have pursued the drillers but it went quiet pretty quickly. Back in LGO days similar situation arose - lots of puffing but no legal action from LGO - I suspect unless there’s blatant negligence liability rests with oil company. Probably the way to avoid this is a Turnkey contract but that costs much more -LGO did try that once .

Regarding Bahamas licences BPC were in arrears with payments but attempted to justify it. I suspect if the drill had been successful they would have become current pretty swiftly - I’m suspecting they may now have languished but I’m happy to be corrected on that.

Re current Bahamas stance that’s their prerogative - the deal with BPC was struck many years ago and it appeared they would honour it - if BPC had struck it rich and Bahamas didn’t want them to extract then a legal argument re compensation would have ensued - as you know BPC failed so it became a moot point!

Re conning shareholders - what is your allegation, specifically?

Druid - as I previously explained I felt sorry for you but you’ve grieved long enough - it’s time for a reality check!

I’ve seen some of your historic posts and thought they were tosh but I felt sorry for you as it appeared you were having difficulty adjusting to the drilling failures of this company so I didn’t bother challenging them as I doubted anyone would have taken them seriously.

You now seem increasingly desperate to troll this share but don’t have the courage to make specific allegations when challenged - readers will draw their own conclusions!

Druid - your last paragraph ‘ only the execs like In4cedros, starfish and Wilec the Burren think these were all legit and properly run kosher affairs. ( Muffled howls of laughter ) ‘ - I can only speak for myself - I believe they were legit as to date no one has proffered evidence to suggest otherwise - if you have evidence to the contrary let’s hear what it is !

Most people if they are confident about their position are prepared to express themselves clearly - even LayLadyLay and Disgraced Compulsive Liar 12bn clearly express themselves suggesting they have confidence in their posting even if it’s misplaced !

Druid Debunked - still composing earlier post but your latest post was right out of the Trolling for Dummies handbook - you come up with YOUR OWN IDEA about what the company should be doing then let loose with the implied criticism if the company hasn’t done what YOU think they should!

The company has existing licences they are discussing with Trinidad Government at the moment, which need development to comply with licence obligations - they need to manage these effectively and the company has advised they will be spending in HY2 to attempt production increase - that’s the plan the company has publicly committed to and will rightly be judged on - NOT FANTASY DRUID ISLAND!

mick - thanks for your contributions to this board particularly good example of which was the evolving changes to UK law regarding liability in operating subsidiary companies - hope the BOD are mindful!

I don’t have the link to ‘ weird ‘ reading material but keep an eye out for ‘ Debunking Druid ‘ likely to hit this board quite soon - it’s a bit lengthy so not quite ready yet but it’s a story of how I correct a disgruntled conspiracy theorist with FACTS and make him happy!

LayLadyLay - I’m glad you find my posts entertaining - as I’ve explained before I don’t have time to police all posts so it’s the trolls that usually benefit from my attention, as you’ve regularly experienced! IreneKrapp had a loathsome style justifying a particularly robust response but only a troll would suggest she showed me up on many occasions - you had the opportunity to select the best example you could - speaks volumes !

You asked how long did the failed S2 take to be profitable- you know that it wasn’t profitable but no one knew that BEFORE it was drilled - everyone did, however, know beforehand that there was no guarantee of success - unless they had mistaken this share for a Post Office account LOL!

Accounts are important and the company needs to comply with legislation - I don’t have detailed knowledge of the company’s MO so I don’t believe I can add value here except to say the AUDITED accounts are out - within the revised time scale previously announced by the company - so the egg is on your face mate!