Member Info for in4cedros

neon - I agree with you it's not shorting per se that's an issue its the garbage that goes with it - misleading, saturation bulletin board posting - very much like the daily diatribes from a very well known troll on here - no wonder rossannan wants to deify shorters!

Burnie - the SP performance has been disappointing but in my view if you merely followed the story since LK took over through rns you'd see it differently - he thought Goudron could be solidly developed but found that even with the interventions it was rather problematic so he's taken the opportunity to change emphasise and now we have diversified production from 6 fields most of them being more profitable per barrel than Goudron.

LK claims in latest rns that profitability will cover all group costs in Q1 2019 which will be a first for this company and quite an achievement - the Trolls would probably have given better odds against that than an away win by MU against PSG tonight! Where will this performance come from, again it's in the rns - drilling of a ' fully loaded forest sand compartment ' on South Erin - further development of Snowcap and green light for Icacos and bonasse - he hasn't given up with Goudron - will we see connectivity for the latest water flood target - so many possibilities here without even dwelling on Trinity Innis/ Predator deal.

Yes we are waiting on SWP development which is most likely to be transformational but in the meantime the day to day business is getting increasingly solid and I don't believe is reflected in the SP.

LK doesn't control the SP but he needs to answer to shareholders at meetings - he is making good headway and he will empathise with shareholder SP concerns but he is unlikely to change from 3 monthly reporting and no doubt he will opine that the SP will catch up when the market properly reflects on the company achievements - this next rns will be important - he trounced the trolls last time by hitting the 1000 bopd target and the trolls will be slithering back under their rocks when he does it again in April - watch this space - his reputation is on the line over that profitability claim don't forget!

Dross - Don't know why you didn't tell us this when you were ramping the Shyte out of CERP - not much has changed since then regarding SWP except as D-Day approaches planning has intensified and they have paid for even more advice about site selection.

I don't believe anyone believes that LK is guaranteed to be successful with the drill but those that are familiar with this particular area know that striking oil is very likely, probably much better than the average statistics referred to in the general article you have presented.

LK has the cash for the drill and most shareholders want him to go ahead and take the plunge, based on the best information he can get, including the ArKeX survey we paid for some years ago.

If you think you can make more money by buying before the drill and selling before the result that's your prerogative - such a strategy does involve you buying shares but for some reason you've decided that the plan LK has been presenting to shareholders for a long time won't allow him to spend $2 million of the $2.6 million already in the bank because you believe LK needs a buffer of more than $0.6 million even when LK tells you in the last rns that in Q1 2019 profitability will cover all group costs, which augurs very well for subsequent quarters bearing in mind that he is making exceptionally good progress in developing the new fields acquired in the SD deal.

Your scenario about needing additional cash is a possibility but it's not backed up by any evidence whatsoever and you are pedalling it for your own manipulative reasons - you never respond when challenged on your scenario - you just keep repeating it Goebbels style in the hope that saturation will turn your opinion to fact!

Dross - you should have paid more attention to the rns and videos - there were legal issues regarding licenses on SWP which needed sorting by the magnificent legal team at CERP!

Dross - now you are making it too easy for me !

You are always telling us the shares are not overvalued at the current SP - LK persuaded SD to take CERP shares at a price of 5.15p ( close of business 13/07/2018) in return for assets which he has used to increase production and profitability according to the last rns and which are capable of massive further increases.

Looks to me like the accretion was over 100% on that deal judging by current prices!

Dross - you are clearly being intentionally dense being ignorant of the potential of the SWP - no one is expecting the first shallow drill in SWP ( $2 million which you claim CERP can't afford without a Placing ) to be transformational but even you agree it's likely to increase overall production and the stated plan is for the drill to be deepened at a later date - this means that the risk to the company is lessened as it is building profitable profitable production from it's 6 existing fields - something you grudgingly now admit LK referred to in his last rns!

MrMagoo - if posters like me didn't challenge Troll rossannan's misleading posts he would become emboldened to write even more outrageous tosh!

Take his cash burn tosh - after me quoting from the rns about covering all group costs in Q1 2019 he has had to wind his neck in and come up with another risible theory that CERP can't spend their own cash on a drill because SUDDENLY the company MUST HAVE A CASH BUFFER of an amount ( to be determined by Dross ) which will, almost certainly, be more than CERP have, thus making a Placing imminent and in the meantime LK has put preparations on hold for SWP!

Where are you getting all this tosh from Dross - have you been to a Goebbels seance?

Dross - do you think LK read your posts about this imaginary cash buffer of an unspecified amount being required and decided to put back the spud by a few months, just in case!

Do you know what the settlement terms are with the drill company - they are, after all, a major shareholder in CERP - do you think that might make some difference?

Dross - I'm telling you where you're going wrong - I notice you have accepted your cash burn idea was risible in the light of LK 's last rns and that they have the money for the first drill ( which was the plan ) - now you've created another imaginary hoop to jump through - CERP can't spend $2 million of their own cash on a drill without having some buffer left ( which will, presumably, always be an imagined amount that is just a bit more than CERP actually have ! ).

Worrying bit for you is that CERP business is viable without the drill and is likely to be even better by the time of the drill so why can't they spend part of their cash on it - you've even agreed that the chances of success for the shallow first drill are very good so that cash flow is very likely to improve as a result of the drill - who is telling you CERP need this huge imaginary cash buffer ?

Dross - now it's ' tankemptygate ' for an operational cash flow positive company!

Dross - with Quarterly Updates by rns it's necessary to study both FACTS - such as over 1000 bopd target achievement and FORECASTS - such as ' Group is forecast to remain operationally cash flow positive despite the recent international oil price reductions, with operational PROFITS forecast to cover ALL GROUP COSTS in Q1 2019'.

Understanding the rns can assist shareholders in seeing the development of the company and why Trolls banging on about cash burngate, schoolboyerrorgate, CO2gate, TropicalFloodgate, Placinggate, Lindgate, Leo'sCVgate, Outliergate and Punishmentgate are just Goebbelising the board!

The latest, probably one of the flimsiest yet, is ' feelinggate ' - based on ehrrrrrrrrrr nothing - ' Can't help feeling that LK is going to miss the starting gun '.

We don't know the exact details of preparations for SWP - Dross can speculate with his Fantasy Oil & Gas Manager game so probably best to have regard to latest rns, again!

' Another key focus in the next six months will be the ONGOING technical and commercial preparations for the PLANNED drilling campaign in the South West Peninsula which we plan to commence mid 2019. Work continues to identify the optimal drilling locations and to help reduce ( Irene take note - not eliminate ) risk and increase the chance of success. I remain hugely excited at the opportunity presented by the SWP exploration portfolio which could be TRANSFORMATIONAL for the company IN 2019, given the known ( LayLadyLay take note ) prospectivity which exists in the SWP '

Dross I don't know why you suddenly have these ' feelings ' - you live too far away for me to come round and hug you but I do hope my post has allayed your concerns - better to understand what you've been told rather than speculate that no news means inactivity!

Irene - down tiger! - operational profits forecast to cover all group costs in Q1 2019 - not long to wait until the April Update - I wouldn't be happy for you to see them before anyone else no matter how impressed you are with Leo and his colleagues ROFLMAO!

Jbows - Anderson is a stand out for me and TBF when they all turn up they are competitive - on the right road now - I try not to mention Football but goaded into it there - apologies for any offence - ATB!

SRS - Agreed mate I think West Ham would be a challenge for any manager!

If you are bothered that LK can't cope with Tropical Rainforest probably best not to invest but I've not seen any evidence to that effect just the usual Trolling scenarios which are getting more and more desperate as the rns from LK gets stronger and stronger!

SRS - we know you are just Trolling but it's a bit lame to recycle Troll Rossannan's work - he was very proud of his effort attempting to undermine the company it was just unfortunate he was at variance with Troll LayLadyLay - which Troll should we believe?

SRS - Troll rossannan made the same observation down-playing the effect of flooding after TRIN results which was a little amusing because contemporaneous with the flooding Troll LayLadyLay had warned us that it might be impactful on CERP production - Troll rossannan even wrote to CERP about it and got a reply indicating why some operations had been affected.

LK made the point that under his watch he had provisioned independent power generation for many of the sites to minimise impact but other heavier work was delayed - they are working in Tropical Rain Forest in some quite remote areas not in the M25 bubble!

Dross - I know it blows your doom mongering theory out of the water but you should pay attention to the actual wording of the rns :-

' Group is forecast to remain operationally cash flow positive despite the recent International oil price reductions, with operational PROFITS forecast to cover ALL GROUP COSTS in Q1 2019 '.

Dross - most seasoned investors here are able to distinguish between fact and aspiration- nothing wrong with a CEO having aspirations or a vision of where he sees the company in the future.

LK has published his plans for SWP and there is no evidence he is not on target to achieve the objective ( unless we count all your posts as EVIDENCE!).

Who should investors believe you - a pound shop psychologist using the same repetitive methodology as Goebbels or a CEO with an excellent record in business with reputational risk?

It's certainly a really tough decision even before any account is taken of the fact you're not a shareholder here at the moment!

As I've said before this is a complex company so there are many areas of uncertainty for Trolls to attack - you maintain the financials here are dire ( based on projections related to 327 bopd from Goudron ) whereas I have proved the folly of such a hypothesis and LayLadyLay has published the evidence. LK has certainly blown your cash burn theory out of the water with his claim in the latest rns that production will cover all group costs in Q1 2019 - no wonder you wanted to have a little dig about that in your latest post.

All will be revealed come April when the Quarterly Update is published - if LK fails questions will be asked and there is reputational risk for him - bit like last quarter where he had to achieve the 1000 bopd target - attainment was a big blow to Trolls - you had to spin that it was ' forced ' - but again, no detailed evidence to support the hypothesis.

The latest in the litany is ' TXPgate ' - your theory, apparently is that as TXP operate in Trinidad and had a Placing for their drilling campaign it must follow that CERP will have one, despite having different financials, particularly minimal debt ( without onerous TXP covenants) and $2.6 million cash in the bank!

Dross - read the latest rns $2.6 million, probably a lot more by D-Day on account of the rns also claiming production to cover all group costs in Q1 2019 - I know you think you know more about the financials than LK but you are bluffing- I'd like to play you at poker with LK's hand !

Horseyhead - as it happens POO price wasn't very significant as repayments were barrels of oil equivalent per month as it was a commodity related deal. Breathing space wouldn't have helped as those new wells didn't show any signs they would do better as they matured.

LK managed to persuade SD to accept CERP shares presumably because they felt comfortable with the risks he planned to take as outlined in his vision for the company so there is probably expectations that he should keep to the plan by them as well as Schroders and other big investors, unless there's a major change in circumstances.