Member Info for in4cedros

RX - everyone loves Victor - sometimes when you've binged on the box set the repetition can be tiresome - obviously not for Dross!

Chesh - sagacious stance there - unlike Dross who defaults to a meldrewesque non-believer of rns when the cash burn maths don’t support the pre-determined conclusion about a Placing!

Dross - whilst BBC are no strangers to propaganda you could certainly learn from that article you quoted about how to draw reasonable conclusions from facts rather than bullshyting readers here with your stories about Paul Baay ( TXP master class!) speedily biting the bullet when in reality, because of minimum drill obligations you conveniently omitted, the gun was already cocked and pointing at his head!

Dross - I don't believe there's anything in the SP for Goudron water flood and it's been played down by management for a long time so I'm a tad amazed you are so desperate you're trying to make something out of it - it was worth a try and it might come good - I'd have been disappointed if they hadn't explored those avenues - it's not costing much - what's your problem with it ?

If they were spending big bucks on it and getting dusters like AMER and JOG I could see why shareholders like you would be disappointed but no reason to transfer that here - perhaps buy yourself a home punch bag !

LayLadyLay - I don't recall seeing a formal announcement that Petrotrin/ Heritage agreed the transaction but I'm sure if you raise it as a shareholder with Tony you will probably get an answer. It's been ongoing for quite a while now so there may well be an argument for implied consent but I would prefer to see it signed off - glad you're on the case now!

LayLadyLay - if you’re joining the Rampers you’ve got to pay a bit more attention to detail - the claim by LK related to profitability - I’m not sure anyone is expecting increased production in Q1 but that would be very nice if it happened - do you think it’s likely -perhaps a late surge like last quarter ?

Magoo - you've exposed my source material - they say a picture is worth a 1000 words !

rxdav - if I thought you were a Pratt I'd have to think the same of myself as I don't follow the other T&T Oilers in detail - I don't consider it an obligation for CERP shareholders. Dross pays the others more attention but he is either naive or very naughty to tell us TXP do this and that then drawing conclusions from it regarding CERP without sharing the full information ( gun to head - minimum drilling obligations! ) - see my earlier post TXPgate.

I only researched it further because Dross mentioned Paul Baay more often than I check into eBay - then I decided to share the facts with the board for readers to draw their own conclusions!

Irene - those that bother reading rns know that there were legal issues re SWP development which Tony sorted with the license holders after LK took over, on very favourable terms for CERP, especially if they hit the motherload you are very keen interested in !

Don't bother asking me to speculate how many barrels per day and dates otherwise I might have to quote you Soldado North again,average 15,000 bopd for 50 years, just as an example of a field not a million miles from SWP!

rxdav - noticed Dross still flogging the TXP horse argument - despite fact that with existing debt and gun to head with minimum drill obligations looming ( see annual report ) options were limited over there - perhaps he thinks you're unaware of those issues ?

I’ll wander over there and see if I can pick up a few tips !

rxdav - I like to think I have my moments with the vitriol jar!

Dross - Perhaps it should be shame on you for your succession of propaganda stunts Joseph would be proud of !

Thanks for the appreciation of my post - unfortunately much more effort needed to defeat propaganda than to create it so apologies for the detail - it’s where the devil is !

I don’t follow TXP but rossannan posted yesterday on the other board ‘ Masterclass in finance from Paul Baay of TXP this morning - Leo Koot take note ‘ .

I investigated the comment and found that the ‘ masterclass ‘ amounted to kicking the can down the road by extending the existing loan term - the TXP board was surprised the info wasn’t included in an rns as it appeared price sensitive but that’s not a debate I’m looking to stimulate but hardly a masterclass in PR!

As I said earlier I don’t follow TXP but I wish them well but as Dross seems to think Paul Baay is someone LK should emulate I bothered to read the annual report dated 27/03/2019 and came across this paragraph:-

Exploration expenditures were mainly focused on our Ortoire property as we iINVESTED $2,147,000 and $3,387,000during the 3 months and year ended December 31/2018 respectively ( 2017 $330,000 & $1,240,000 ) .We continue to focus on advancing our internally identified exploration prospects on the property in order to COMPLETE OUR FOUR WELL DRILLING OBLIGATIONS IN 2019 & 2020.

TXP did look for a partner for Ortoire but seemingly that didn’t come off so they either borrowed or Placed to finance the project WHERE TIME WAS RUNNING OUT to meet the DRILLING OBLIGATIONS. Further borrowing may well have been problematic as they have plenty of existing debt so Placing appeared the best solution.

My irritation with Dross is that he has repeatedly used Paul Baay and the Placing as an example of TXP getting on with a Placing as some sort of ‘ masterclass ‘ for LK to follow whereas the reality was PB pretty much had a gun to his head time scale wise and needed the matter sorting PDQ - by contrast LK can get on with the job at CERP with his own timetable which he published many months ago and doesn’t need to worry about what Paul Baay does or what Dross thinks he should be doing to further his own agenda!

Here’s an example from Dross 21/02/2019 ‘ TXP had been actively looking for a partner but presumably no partner was available on acceptable terms. So who is LK kidding when he implies that a Placing cab be avoided by telling us that the necessary funds can be generated organically or secured from s partner? Should he not just deal with it now and issue shares .....’

Dross LK doesn’t have a gun to his head so that makes ‘ partnering ‘ negotiations more relaxed - so who’s doing the kidding on here - not Leo Koot !

It was a good effort from Dross - I think he would have got 9/10 from Jo Goebbels for it but unfortunately when it is exposed it makes the next bit of propaganda less believable!

Dross - we get it that you were very disappointed about your failed drill but you need to develop a sense of perspective - if TPX have a Placing that means CERP need one - if AMER drill a duster that means CERP will too!

CERP have their own situation and bad things can happen but amazingly not everyone believes this will happen at CERP - it's no longer Shyte or Bust here - if the next drill fails it will be disappointing but the company is organically increasing production and profitability with 6 fields so it can dust itself down and move on - many shareholders take comfort from that!

LayLadyLay - thanks for your post I'm sure LK will sleep more soundly tonight knowing you are looking after his back LOL!

LK will have the opportunity to address his claim as he has stated it in the rns in the next quarterly update and I'm confident he will come through on it - this will be a landmark improvement in the fortunes of CERP and I'm glad that the trolls on here are now finally appreciating the significance of it.

I note you displayed sound judgement by declining the invitation to endorse rossannan's post - Victor Meldrew is becoming increasingly desperate with his posting and didn't seem to like the put down from bigmj - it's really difficult to decide who has more credibility out of those two - someone who can't be bothered to attend any company events and has to have his arm twisted to watch a video or someone who has met LK often and put up wads of cash in Placings!

I'm looking forward to seeing you attend one of the meetings sometime - especially to tell the management they are wasting their time and shareholders money with the SWP project ( all based on your own assessment of the geology out there ! ) - what are you like ?

Dross - what a whimpish prediction - WTF happened to all that cash burn tosh and the Victor Meldrew impressions?

LayLadyLay - 10p cheque in the post for quoting that part of the rns again - it's a ' claim ' but it's not made by me it's made by LK who has daily key performance indicators relayed to him and he's had to justify it to the NOMAD as it was in the rns - whereas posters on here can write tosh without having a professional eye cast on it.

I like that LK is confident enough to make the claim as he knows that he is likely to get stick on here if he fails whereas if you or Dross Meldrew mess up you will just be yesterday's papers and will hardly get a mention unless it's in the context of being preferred to political comment LOL!

BTW I drove my coach and horses through rossannan but you've chosen to respond - are you prepared to hitch your wagon to Dross and endorse all of his post ?

rossannan - same old desperate flawed Shyte being restated.

$2.6 million in cash in last rns and claim of profitability to cover all group costs in Q1 2019 ( rns agreed by NOMAD - unlike your posts! ) - you can say you don't believe it from your armchair but even Victor Meldrew impersonations got tedious after a while!

You've had to change your argument from cash burn to can't afford to spend the cash we've got - why would LK be afraid of that - if he was he could almost certainly get contingent financing - Lind seem very obliging previously why wouldn't they do it again - especially when the underlying fundamentals have improved?

Although you wanted to undermine confidence in LK ( LK'sCVgate ) I don't think he would have to get out of first gear to do a deal with the drillers of the first well as they are major company shareholders who may well be happy to take payment in instalments if it was deemed desirable but we don't know what CERP will be producing organically at that time from 6 fields particularly in view of LK's claim about Q1 profitability.

I don't pretend to run CERP from my armchair and permutations for the future are endless and boring for most people on here - what's wanted is solid progress by communication from LK and that's what we'll be getting shortly - it wili never be good enough for you because you'll just say ' I don't believe it ' as you have an entrenched position which the facts don't now support - when are you going to publish details of the new short position you were talking about recently?