Member Info for in4cedros

BurrenBoy - are you referring to the 12bn on ADVFN who tells blatant lies and does not believe the FCA warning about the risk of unlimited fine and 7 years jail applies to him?

Druid re my post @11:32 today - aren’t you happy for the shareholders- don’t you wish them well ?

BurrenBoy - if the height of aspiration was to break even then 0.10p is 0.10p too much. Investors buy, presumably, because they believe the company will improve - shareholders voted positively for the reset plan and provided the capital through the Placing to fund it - aren’t you happy for them - don’t you wish them well ?

BurrenBoy - tell me more - are CEG mistaken with their calculations?

BurrenBoy - if you refer to recent RNS regarding financials you’ll see CEG have calculated that at a much lower WTI than current $120 and 400 bopd they can generate close to the amount needed to cover production costs and corporate overheads.

BurrenBoy - you might be on to something there - if CEG legal position is not worth defending in Court perhaps they’ll just not bother and FRAM will be forfeited - what is FRAM worth - I don’t believe they’ve managed to renew the licence?

GarryGraham - have a good look at the RNS dated 26/05/2022 - ‘ we will explore partnering options ‘ - tinder was not mentioned!

‘ initial low-cost work programme’ also mentioned.

HTH

laallee - thanks for sharing something you’ve always remembered - are you able to evidence it - did he also say ‘ he was looking after his mates and himself ‘ ?

Average_Dave - very difficult to get information about this dispute - check my history I asked here and on PRD board - if you view previous PRD RNS you might get the impression they feel hard done by but latest is more conciliatory.

Unsure why Druid believes CO2 project failed - perhaps he will supply the evidence- if the concept failed seems odd PRD are are in full promotion mode.

micktrick - historically Trinidad Government has had a relaxed view about deadlines so the end date may not be hugely significant.

I’m more interested in learning from PRD enthusiasts where the deal with CEG went wrong. I’ve seen those RNS but wondered if they had shared more elsewhere ?

Bamps - hope you are well - good luck here!

Normally those factors would suggest uninvestable - I salute your bravery Linton78!

Druid - :) !

Re your 02:06 post ‘ Trouble is S1 was indeed drilled off Goudron wonga ‘ - I would argue that this is a very courageous premise for a conspiracy theory as someone might ask you to prove it!

If that happened you’d have to attempt to show it from the accounts !

LGO /CERP have not made a profit since I’ve followed them - the ‘ Goudron Gusher ‘ was a short lived excitement where production fell of a cliff after 3/4 months. That particular well was profitable in terms of ROCE as it was still producing oil at around 35 bopd more than a year later.

The success of that well enabled the company to borrow to finance a drill programme that was spectacularly unsuccessful and led to a succession of shareholder placings which kept the company afloat and financed S1, S2 and the latest campaign.

I wish all shareholders well here and I will continue to watch with interest. With regard to BOD they were acting with shareholder approval when P1, S1 & S2 we’re drilled and risks were well highlighted beforehand. The failures have created an army of bashers which I can understand from a human nature viewpoint and these forums are a good place to ventilate but I prefer to criticise the areas the BOD might have done better and currently this dispute with PRD might be seen as shooting oneself in the foot. There may be a good explanatIon but I’ve just not heard it yet, whereas PRD have put out RNS as they clearly think their shareholders should be informed!

Thanks PTMS - CapEx from PRD was over £0.5 million and I doubt huge inroads had been made into the debt repayment.

If the production was low the debt would take longer to repay but I might speculate that contract termination might convert debt to immediate repayment?

Druid - I must confess I was a little disappointed by your response as It hasn’t advanced my knowledge of the dispute between FRAM & PRD.

I have given it a bit more thought since my last post and had a read of a 2021 RNS from PRD where they advise they were asked by FRAM to remove their equipment at 24 hours notice! They have followed it up with a recent RNS suggesting a significant sum is owed by FRAM!

As CEG are not awash with cash, after allowing for the substantial projects they suggest they will advance shortly, I do believe this is a matter of concern which the CEO of CEG should communicate with shareholders about.

On the face of it the decision to allegedly unilaterally terminate PRD seems a bit of a mystery to me - hence the request for relevant information.

Regarding your conspiracy theories I’d have to say I’ve heard more convincing ones on the internet - if P1 wasn’t drilled there would have to be a huge number of people in on it but you are entitled to your view - I’d be interested to know if others are stimulated by it !

Druid - how much money did it make and how was it distributed - why is there a dispute ?

I would be interested if anyone can point me to an article summarising this dispute - seemed like a good idea at the time - where did it all go wrong?

Briggsy - has blackadder been sold a pup or a pony?

BOD to be congratulated on completing this refinancing to give them and shareholders a chance in the future at a time when many ‘ well meaning ‘ posters thought last orders had been called !

The world is now their oyster, Rodney !

Enough new shares, shortly, for the population of the world to buy at least one per person!

Krapper - as I’ve told you many times before I never disclose my trading positions on a bulletin board.

You lied historically about my shareholding history and if my reporting of your conduct influenced your ban I’ll not lose sleep or finances over it - I wish you all the luck you deserve for the future!

Today’s development was interesting and I want to congratulate the board on managing to negotiate another roll of the dice for the company!

I did wonder what direction the company would take to attempt to justify the new injection of funds and I notice the change of emphasis away from the SWP even though they recently suggested that would still be worthwhile on the basis of multiple shallow drilling.

The new plan is not hugely inspiring but they could get lucky in Suriname and the South Erin drill of the compartment could achieve a good result - the road to transformative growth will not be quick and easy for this company IMO but I wish them and shareholders well and I’ll continue to follow developments and where I see lies being told I’ll correct posters in my normal style!

I’m pleased they haven’t included borrowing in the package as forecast by Disgraced Liar 12bn over on the other board - it wouldn’t have been sensible having regard to likely cash generation in the short term so hopefully the BOD have learned some lessons from history!