We would love to hear your thoughts about our site and services, please take our survey here.
Icemax - good response! I believe if you scrutinise my post again you’ll see i didn’t specifically suggest you were trolling but it was deliberately ambiguous to see if you took the bait - but you didn’t so respect to you!
Icemax - the Oz crew seem to be competently supporting the share price by remaining steadfast for more than a year - many trolls will put their own spin on that as they appear to find it frustrating.
The company now has a new strategy, which appears to be working and Uruguay appears to be attracting plenty of interest. This share remains a high risk speculation, imo, but unlike the trolls I don’t seek to discourage as I can’t be sure that it won’t be successful!
Zag - can’t rule out failure- after all this share in all its different guises has always been ultra high risk - I’ve been saying that on here for eons!
The existing shareholders want the BOD to try and achieve success- the BOD are doing what’s been asked, including publicising it with explanation, but all they get from the disgruntled on here is whinging and whining about their past losses when they obviously risked far more than they should have - why is that the fault of CEG?
Zag - no need - it suits me to use his post as an opportunity to state facts which the disgruntled don’t like to hear!
Here’s more Zag - the company is still going, with the support of the shareholders, it has a chance of doing very well out of Uruguay and in the meantime the BOD is keeping things going well in Trinidad.
Only months ago CEG staring down abyss of legal action threatening in excess of $100 million- who’d have thought they would turn that into a multimillion positive on the balance sheet! CEO says more asset sales to come - watch this space!
See what I mean about taking opportunities, especially from the disgruntled!
Druid - there you go again - now ramping the bod fund raising skills - the idea of the farm out is to lessen need for cash raising whilst maintaining salivating risk exposure to the new exciting Conjugate Orange Basin opportunity.
I don’t rule out cash raising in the meantime, depends on availability of cash from sale of non core assets in Trinidad.
Glad you’re now able to see the possibilities here and not just whinging and whining like the disgruntled ex-shareholder cohort who appear to blame the bod for not hitting oil when the COS was clear for all to see before the event!
Srdoddy - in your previous post you referred to licences ( plural ) so I assumed you were concerned about the Uruguay situation which is free of charge in terms of annual fees but is clearly subject to fulfilment of work obligations, which CEG have accelerated on the first licence.
I also read the RNS and was surprised you were concerned about the Trinidad licence ahead of knowing the actual terms . Many thanks to the recent poster who put meat on the bone in that respect.
GG - I did posit an explanation for BP walking away some years ago - they did not know, at that time, how successful the drilling in Namibia would be. This is now known and the link to the Conjugate Orange Basin appears to be widely accepted by Majors - hence the interest from Shell et al. This development is significant because the prize on success is huge so it affects the risk/ reward assessment. I then went on to say that BP have now changed their stance on new exploration projects under new CEO Looney so even the new information probably wouldn’t justify a reassessment of the project.
Briggsy - most of the recent Uruguay license awards have been uncontested- does that affect the potential of the license?
I notice you now feel confident to advise on the state of CEG finances ‘ for sure ‘ - this is quite a departure for you - care to share your detailed calculations - I doubt it !
Briggsy - I’ll be very pleased for shareholders if this does, indeed, turn out to be a master stroke.
Obviously that won’t please the legion of trolls out there but no one begged them to become involved here, knowing the company’s activities were always highly speculative!
GG - as for strategy of taking the additional license it’s certainly a bold move which could be a master stroke if Uruguay becomes a proven oil hot spot but it may well take more time than is being talked about so that shareholders may have to dip again if they can’t sell other assets but the current shareholder base seems willing to back board even though the ‘ disgruntled ’ cohort seem to hold sway here!
GG - thanks for attempting to generate a reasonable discussion on here! Although you haven’t said it I’ve seen the usual suspect trolls posting up the line if BP rejected it it must be carp!
This is not unexpected and is an easy knee jerk reaction but it should be considered with facts!
When BP withdrew the Conjugate Orange Basin link had not been made with such strong evidence- hence current clamour for licences. Secondly if you Google BP and CEO Looney you’ll understand that with new very tight criteria it’s unlikely they’d consider even the sexy new Uruguay variant!
Gazza - glad you’re keeping up with developments - I agree Shell are unlikely to partner us at the moment as they will probably want to check out their own allotted area first. However it’s easy to verify the topical interest in offshore Uruguay and the CEG licence appears attractive because the work commitments are modest and they have already identified 3 sites of particular interest so it’s potentially an enticing prospect.
I don’t expect the disgruntled cohort to agree neither am I guaranteeing they’ll get a suitor but the disgruntled cohort aren’t guaranteeing they won’t - it’s a speculation - don’t speculate and then become a Moaning Minnie if you’re unsuccessful!
GG - thinking about your shareholding in the context of a carrot is clearly your prerogative but what about when spud season approaches - allotment holders may well be very pleased !
Cheer up Gazza try and see the positives - but if being disgruntled and disillusioned makes you happy carry on - difficult for me to discriminate between genuine hardship cases and blatant trolling so no change likely from me!
Have you thought about taking legal action against the party that recommended you invest in a high risk oil exploration and production company?