Member Info for in4cedros

mossma - have to applaud jsgswims’s sagacious prescience in bud nipping so early on the other thread !

Plenty of latitude for debate on LLOY thread. Re BBC may I put in a good word for A P Neil - although it looks like they are increasingly sidelining him!

Edgar222 - Massive misjudgment to attempt to politicise this board - may I applaud everyone who has previously contributed here - including trolls, for showing appropriate restraint, whatever view may be held about that subject!

LayLadyLay - Dross needs your help as he's getting increasingly desperate but I think he was looking for something more than John Clare - got any Julian Clary one liners for us ?

Dross - increasingly desperate plea from you - no one has suggested CERP need the PRD option cash to afford the first drill - if they don't exercise the option CERP will just have to reap the rewards over a longer period by way of the 50 % profit share in the deal, after costs.

CERP had $2.6 million in cash at beginning of Q1 2019 and the drill is thought to cost around $2 million. LK is so confident about profitability of production from the 6 fields that he claims it will cover all group costs in Q1 2019 ( included in last rns and approved by NOMAD, unlike your posts! ). BTW WTI is up by way over 10% since he made that claim!

LK talked about partnering to develop SWP - it seems remarkably naive to suggest that just because TPX couldn't get a partner this means CERP will have problems - the SWP area is not just salivating for me - those knowledgeable of the area attach more than a little significance to its position close to Soldado offshore fields. Dross you clearly believe any terms will be giveaway but your opinion is based on diddly squat evidence - CERP aren't desperate they can afford to wait until after the first drill to negotiate - I'm sorry if that drives a coach and horses through your argument but you've been flogging a dead horse for some while with your ridiculous tosh!

Dross - the tweet merely indicated the companies that might be interested - If you are desperate for TRIN to buy them probably best you make that case with the TRIN board. Clearly if other companies are interested they will consider funding implications.

Dross - I note from RRL interims ending 31/12/2018 ‘ Production during the period was adversely affected by extreme weather conditions in Trinidad with record rainfall and extensive flooding.This resulted in prolonged periods of electrical power outages and flooding at the Company’s fields. ‘

Clearly LK foresight to provision independent power on site was sagacious.

In view of the announcement today by RRL I expect the CERP team will cast an eye over their Trinidad fields.

Dross - so far as I know salt is not being used in the Goudron Water Flood campaign but the CEO did cover progress in the 09/01/2019 rns - you didn't believe LK's claim in the same rns that profitability would cover all group costs in Q1 2019 so I do wonder whether you will believe the other statements but here it is:-

' The Water Injection Pilot A implementation that commenced in July 2018 through injection into GY- 667 showed evidence of direct pressure communication with target offset production well GY- 665.

The second Pilot A injection well GY- 209 is ready for conversion to injection in Q1 2019 with the target of supporting well GY- 664. To date the cumulative total of water injected into Goudron is over 291,946 barrels. '

My view is that if they have evidence of connectivity it's probably helping to support field pressure which would otherwise be less and may lead to reduced production - after all production from Goudron was only 327 bopd when LK took over so his interventions have been significant. I don't see too much evidence of LK ramping water flood - on the contrary he has told us that Goudron is rather problematic so whilst he is keen to keep it going as it provides useful base income he is measured with his expectations.

Having said that we may be pleasantly surprised if the progress on water flood is positive with the Q1 new activity - you will just have to wait with everyone else for that information along with progress on the othe 5 fields, although I'm thinking LK must have been very confident to make that claim about profitability - Snowcap appeared to have great potential as did the drilling of the ' Fully loaded Forest Sand Compartment ' on South Erin.

You obviously have a negative agenda towards the company and there are plenty of people who choose to invest elsewhere because the risk doesn't suit their attitude but few resort to your Goebbels style saturation posting of tosh to try and generate a lower SP!

Dross - insight comparable to your post of 07:57 today !

Brown trousers moment for Dross!

Chesh - not much gets past you does it!

Dross - I know you aren’t keen on evidence based observation but your Goebbels style is ‘ blindingly obvious’ to anyone scrolling down your posting history - really!

Dross - it seem that every time you break wind is now some sort of signal about a possible Placing!

If you bother to look on PRD site you'll see an rns was issued there about this important corporate news - LK would almost certainly have been advised that he was obliged to issue one at the same time - but of course if you think you know better let's hear why it was superfluous - what does it tell you on Fantasy Oil &Gas Manager game !

alex - even the guy posting saturation cr..on this share is getting increasingly desperate cos the fundamentals are much stronger now - LK hit last quarter target of 1000 bopd and he's claimed a new target for Q1 2019 - profitability to cover all group costs.

Looks to me, from the behaviour of the SP, that it's resisting at current level - even Dross keeps claiming that ' the market ' is pricing in a Placing for the SWP because he's told them it's ' nailed on ' - he's that confident about it he's prepared to wager 6 bottles of beer - compared to shareholders who have real amounts of cash at stake!

Dross - there you go again with that Goebbels Placing stuff - as I've said before you are asserting the Placing as a fact rather than a possibility for which there is NO EVIDENCE - the company have advised their plan for the first drill and you've challenged it, initially on the basis of cash burn ( that the company was using up it's cash earmarked for the drill on day to day expenditure) - whilst this had been the case the new assets acquired through the merger have borne fruit and LK advised in the last rns that in Q1 2019 profitability will cover all group costs.

You seemed to acknowledge that cash burn was no longer an issue and that left you with a problem - how to justify a Placing when the company had $2.6 million in the bank and the drill was likely to cost $2 million - your answer was to invent a cash buffer problem - suggesting LK wouldn't proceed with the drill on those figures - even though LK is very bullish about company performance now - so much so he's staked his reputation on it ( like he did last quarter with the 1000 bopd peak production) . You are also unaware of the payment terms for the drill being conducted by a large existing CERP shareholder.

Shareholders have an interest in promoting the company - you claim no financial interest in attempting to undermine LK and the company - people should draw their own conclusions!

Dross - ' WTI misbehaving and probably helping to nail on CERP 's Placing ' - what absolute tosh - when LK issued the last rns in January WTI was less than $51 so the movement since has been beneficial to the company as he made his claim about covering all group costs in Q1 2019 at close to 10% lower than current WTI - why are you so desperate to mislead people here ?

Horseyhead - good article - these activist shorters have a similar MO to rossannan, who claims not to short or be trying to reduce the SP for a better entry point but you have to wonder why he tries so hard attempting to get people to see things his way if there is no financial interest - there are plenty of people who constantly read this board and are deliberating whether to buy or sell but don't subject readers to this Goebbels style saturation posting of a scenario which is only a possibility- certainly not ' nailed on ' - being that confident based on massive contrary evidence is very odd!

LayLadyLay. - good intervention and I'm pleased you are in agreement with me about the dangers of myth repetition becoming ' fact ' .

I see rossannan has toned down his deramping since the discussion of shorting being linked to misleading posting on bulletin boards - haven't seen that claim that LK needs a cash buffer of an amount yet to be determined by rossannan otherwise he can't proceed with the drill - notwithstanding the fat cash balance of $2.6 million and the possibility that may grow before D-Day!

Soup - you missed out the important role shorters play in regulating financial markets - for which we all pay homage!

Shins - rossannan is chief troll and is obsessed with generating a narrative for a Placing in pretty much every post - SP suffering loss of sentiment- take a look at the chart - the drill date announcement will likely restore a good bit of that.

The drill is the first step in developing the field in the SWP which may ultimately produce returns of the same order as offshore fields in the vicinity - Soldado North averaged 15000 bopd over 50 years but trolls don't like me mentioning that Leo Koot refers to possible results being transformational - good recent summary on ' value the markets ' site by Daniel ***** - someone will post the link!

SoupChicken - I'm a bit confused by your claim that ' shorters are very important regulators of the market ' - i'm thinking you are believing your own propaganda - I know that many people think the FCA should do more than they do but don't confuse toleration of a practice with positive endorsement - I doubt that anyone puts it to Leo at a board meeting ' the company's doing well but I'm a bit worried that shorting activity has been a bit down lately - shall I give the shorters a ring and get them to up their game ?'