Member Info for in4cedros

Hi Chesh - Happy New Year!

Bohemia - I usually largely agree with your comments and hugely respect that you are refreshingly open about your shorting position but on this occasion I feel I should add a different perspective to this issue.

The Spanish oil field has been worked for decades and the company put together an attractive bid to continue, including substantial investment for field development, with backing from the local people - the Spanish Government decided not to allow the company to continue and offered no compensation - putting Spanish workers out of a job.

Of course this enabled the Spanish Government to claim green credentials by banning oil production from Spanish mainland but I didn’t see the Spanish population suddenly abandon their cars or domestic heating oil - bit like UK importing fossil fuels - leaving us open to price/ supply manipulation from foreign companies/ governments- you know who you are!

So no big surprise on CEG stance!

Zag & Jono - what I see is a company on it’s knees that would almost certainly cease to exist if management weren’t able to radically reduce debt and ideally recapitalise to give it a chance for the future.

I expect that shortly an opportunity will be made available for new cash to be introduced and that would be the time for you guys to regurgitate all the bile about the inadequacies of the existing management team. The talk about lifestyle companies benefiting management not shareholders is well founded and I’d like to see executives here take savage salary cuts in favour of share based incentives - for example Koot was 50/50 !

Zag - I’m beginning to think you might be viewing CEG through Nefertiti ‘s left eye!

Don’t you believe prospects for CEG shareholders are looking better following the remarkable news yesterday about debt restructuring ?

Jono44 - ‘ where due ‘ is the important bit, particularly for existing shareholders facing total wipeout.

You recently raised the issue of current production, may I draw your attention to the Trinidad Government MEEI site which gives more recent data, which poster Bohemia has also referenced. I’d conclude from those figures that production is likely to be not very far off the average but you can draw your own conclusion.

May I take the opportunity to give credit where due - today’s RNS suggests a close to miraculous result on debt negotiations- I’m now thinking this company will be around for quite a while longer and I look forward to commenting on the twists and turns in the coming months.

Be warned those telling lies may well be subject to my keen attention, when I can be bothered!

EileenKrapp - I do remember a poster with a very similar moniker posting lies about me historically and that poster abruptly ceasing posting - are you able to tell readers why that happened?

As I told you and Disgraced Liar 12bn on the other channel I never reveal my trading on a bulletin board - obviously that still rankles with you for reasons I can’t fathom - if it’s so difficult to understand the concept that someone can comment without being invested you should perhaps more closely examine the motivation behind your own posting!

rossannan - there you go again !

You say that ‘ other companies wouldn’t touch Saffron with a barge pole ‘ - this is fake news and you know it because the drilling company for Saffron -1 offered to drill Saffron-2 FOR FREE, subject only to a SHARE OF PRODUCTION, 75/25 until costs recovered, 25/75 thereafter.Clearly BOD should have taken that offer!

I have no problem with the TRIN comment as it’s not incorrect, whereas your development of it in your post as fake news was outrageous rossannan!

allon - thanks for your reply - are you able to post the evidence to back your opinion as mentioned in your post of 09:50 today - seemingly a very significant short position!

allon - starchild advanced an opinion which appeared reasonably plausible based on events. I’ve heard the reference to shorting disclosure many times before as evidence for a stock not being seriously shorted but I’m probably not alone In regarding such ‘ evidence ‘ with a degree of scepticism.

I’d be interested to hear your opinion as to why an organised group would buy shares here in the open offer and then sell them at a massive loss not long after when there had been no material change in the company fortunes over that period, especially when the case for buying in the open offer was greeted with so little enthusiasm by many existing shareholders, who have followed the company quite closely, not to mention the strident urging not to buy from detractors on the bulletin boards.

Bohemia - may I endorse the tribute from Starchild!

I’ve always found your posts polite and interesting- if I were a shareholder wanting to be shafted I would take most pleasure if you were the beneficiary !

Trolling is an art form and you are a superb example of how a thinking man can do it - sadly most trolls are not in your class - including ‘ Disgraced Liar 12bn ‘ from ADVFN with whom I regularly exchange posts !

Has anyone heard from rossannan lately - is he still in for his pre Saffron -2 results trade ?

Bohemia- many thanks for your post of 16:32 which was up to Starchild standard for independent referencing. Such posts are useful for readers here as they are free to peruse the linked information and importantly, place their own value upon it.

Quite frankly Bohemia I’m rather amazed at all the trolling effort that’s gone into the Saffron 2 drill. Now disgraced troll 12bn has been absolutely desperate over on ADVFN, the latest RNS putting the nail in his coffin by exposing his blatant lies, he had stated, on multiple occasions that Saffron 1 was not producing, despite being regularly challenged to provide the relevant evidence!

Why he went to such desperate lengths to attempt to discredit Saffron 1 is still a mystery to me because I stated, on many occasions, that even if Saffron 1 was now producing NOTHING it didn’t detract from the strongest argument so far made for Saffron 2 - that the drillers of Saffron 1 were so enthusiastic about their experiences on Saffron 1 they were prepared to splurge something approaching $2million to drill Saffron 2 FOR FREE, in return only for a share in PRODUCTION’ .

I can’t speak for the mathematical prowess of the Saffron 1 drillers but I would expect them to have come up with a model to generate a ROI sufficient to justify that level of CapEx - I’d suggest those drillers were pretty confident they’d be able to overcome the technical difficulties regarding the extreme pressure encountered whilst attempting to access the deeper targeted layer that defeated them on the Saffron 1 drill.

The ‘ few dozen barrels a day ‘ you refer to for a ‘ normal Bonasse well ‘ probably wasn’t given any significant weight in their deliberations as that would amount to a project failure in the context of a spend approaching $2 million - not much of a parachute Bohemia!

Saffron 2 is being drilled and we await the outcome. BPC have been relatively modest in their expectations for the drill and I’ve not seen rampers claiming ridiculously numbers for it. Everyone knows NOTHING IS GUARANTEED for the drill - most holders have made their judgment - good luck with attempting to persuade them to sell out to help your short on the back of your few dozen barrels a day scenario but at least it’s not as offensive as 12bn’s blatant lies, which I’m sure no right minded poster would condone !

Have you managed the Magic Roundabout in Swindon ?

Edge - Subsequently lost massively ridiculously ramping KOD, MRS( now suspended) and TOOP , in succession- seems to be wary of new projects now so probably lost most of what was left there - resorting to lying about BPC now - I told him a child could troll BPC effectively at the moment, without need to lie !

deltalo - poor old 12bn on ADVFN hoist by his own petard publishing today’s RNS which proves he’s been purveying porkies again - Saffron 1 ‘ has consistently produced since completion ‘ - says the rns - perhaps that was included in the rns because even BOD are fed up with misleading 12bn !

Starchild - never say never but the Goudron PSC has only just been ‘ Enhanced ‘ after years of negotiation, including Koot publicly expressing his reluctance to significantly CapEx the field in view of ROI concerns.

rossannan- boringly predictable- I’d like to say I refer the honourable gentleman to my previous answers !

rossannan - I’m surprised you haven’t published the latest MEEI data as you’re usually quick off the mark - now that you’re a shareholder aren’t you pleased about the increase ?

Bohemia - I don’t believe that an ability, however unlikely, to access Brent prices rather than WTI would be transformational to this company.

FWIW Goudron produces high API - Koot used to carry a sample with him at presentations for the crowd to worship- he claimed it would fire up a diesel ! Saffron is believed to be targeting high API in an interesting geological fold at high pressure.

You are, however correct with the financial analysis, existing production struggles to cover costs, excluding the management expenses outside of Trinidad. This has much to do with the detail of the IPSC where there are 3 levels of payment, the most profitable only applicable to the third tranche.

‘ You Cannot Be Serious ‘ - would probably be John McEnroe’s take on that baseline call ROFLMAO!