Member Info for in4cedros

Oh - just noticed a prime example of trolling has just appeared - Briggsy’s post immediately prior to the Chevron deal is legendary.


“ Why on earth would anyone want to give their money to a company with no credibility and run by amateurs and most importantly who on earth would want to partner with them”.

BTW in terms of skin in the game my cojones are insufficient to influence the future here but if there’s trolling to be done in support of opposition this board could be fertile ground for you - but you’ll have to judge the quality for yourselves LOL!

Cancun & Crazy - thanks for responses - clearly there will always be disappointment from both camps at the idea of sharing spoils more widely. I haven’t seen the figures yet but I’m expecting there to be administration cost savings on CEG side.

Don’t see too many successful challenges to this type of deal with smaller companies like these - bigger, longer established companies tend to have larger institutional holders that are more experienced at defending or improving terms. Disgruntled smaller company holders tend to just sell out quickly - however good luck with your endeavours!

Thanks for sharing, given the agreement between management groups and the substantial share pledges already stated are you able to tell us what the legal and regulatory basis would be of any challenges?

Many thanks Crazy.

Crazy - are you able to give a brief synopsis of the way forward with the crown jewel asset of Sintana , bull and bear case?

Does development depend on Namibian Government approval and are they saying they want gas pumped onshore - will that mean Shell may not proceed with project? This is the big issue from some posts I’ve read but unfortunately I haven’t got to source documents yet so not offering opinion on it.

Laallee - many thanks for your kind invitation - couldn’t help but notice Boxing Day was the first possible opportunity!

I think it’s great you’ve “ survived “the Bahamas drill failure, as I said earlier, IMO, those affected are lucky to gave salvaged any value at all from that investment decision.

I’d go further and say anyone holding shares at the time of that drill should have been aware that failure could involve total wipe out. Interestingly we now see that the residual value of the share post drill was predicated on the Trinidad assets - these turned out to be worth little ( without specialised expertise ( Predator ) and just holding on to them was a huge negative resource drain ( apart from the monthly cash burn the licence fees for some years were outstanding) .

Looking back now, armed with that information, I’m increasingly awed that Eytan managed to steer the company through those rapids without being holed! He has managed to claw back something for those mauled shareholders.

The mauled shareholders should have listened to me as I’ve been the voice of reason here - too many cut off their nose to spite their face and seemed to irrationally doubt pretty much everything Eytan had to say. I merely gave the alternative viewpoint and commented on progress with an open mind. We’ve even seen examples on here of legacy shareholders like Garry ( where is he now btw? ) buying more shares, with his “ consortium “, post drill whilst ardently attacking the business model - go figure!

Once again, many thanks for your kind invitation!

Laallee - thanks for responding in what I’d call the right spirit!

I enjoy your occasional sniping on here and also learn from it, I credit you for first making me aware of extra curricula activity!

I’ve done my share of trolling, some think it’s easy - saying too much is the Achilles heel as it allows posters like me to focus on points that are arguable or readily disputable as Briggsy has found out.

This is a chat board and sometimes I’m bored and post provocatively- I think you get that but some don’t!

Cashandcard - many thanks for sharing your information.

Linton78 - Eytan was lucky the company didn’t fold after the wildcat Bahamas failure but he was given a second chance and by making a bit of his own luck, getting the Oz pack to stump up cash and persevering with Uruguay when no one else was interested he secured assets that subsequently became very sexy, following Namibian discovery.

It seems to me that you’d still be whinging, whining and being as sick as a parrot if CEG were taken out at 50p whereas most current shareholders would be over the moon in that scenario!

The proposed merger will spread risk and reduce chances current shareholders will replicate your sad experience - surely you applaud that?

Laallee - haven’t read his blog but your description suggests he has an enquiring mind and probably extrovert tendencies- these qualities were probably helpful in negotiations with Government officials and senior executives of Super Major Oil companies.

You might have a point if there was total reliance on his judgment to stick a pin in a map randomly and drill for oil but those that have followed this closely know that:-

Chevron drilled OFF-1 previously and found evidence of hydrocarbons.

Since their original drill the Conjugate Orange Basin theory has been developed.

Chevron ( not just Eytan ) seem to have found the theory alluring and offered Eytan really generous terms for OFF-1.

Chevron are funding the seismic, probably 100%, and they are running the project and will decide if and where they drill - NOT EYTAN - are you questioning Chevron’s expertise as well?

Laallee - nothing wrong with a dollop of circumspection but your criticism is starting to sound a bit like the other sour grapes trolls.

On a positive point you mention merger and lifestyle - you’re not the only one to raise this and Eytan stands to benefit hugely here because he probably can sell some/all after merger ( correct me if I’m wrong anybody! ) and pocket enough money to fund a good lifestyle without working whilst still continuing a job with the new entity and still have skin in the game through options. It’s a tempting scenario for him - if you were advising him would you tell him he should put his total wealth on a COS which may only be 30%?

Regarding Sintana I’d like to see more discussion about the development of the proven discovery- is there a chance it won’t proceed if Shell can’t get a deal on the gas distribution with Namibia. I’m genuinely ignorant about that issue and would be interested to know more. It’s easy to take a cheap shot at them and suggest they aren’t confident that the deal will proceed so want to add to back up plans by swallowing CEG.

On the positive side I assume some of the CEG wage bill will be reduced as a result of merger. Obviously if the Namibian deals come off and CEG assets prove positive shareholders will almost certainly see pretty spectacular gains.

Good luck to all shareholders!

Apologies for jumping in IK - it’s a judgement call - I’m doubting you’d have got a technical response from him - he may yet surprise me!

Linton78

Posted in: CEG

Posts: 1,791

Price: 0.06

Strong Sell

RE: Waste of time

7 Nov 2023 20:33

No chance of a farm in for this bunch of part timers. 

I would rather spend it all in the Grenadier, then a slap up meal in Green Park rather than buy CEG shares.

Linton - here is your post from less than 2 years ago. SP of 0.06 equivalent to 3p post consolidation - that’s an increase of 341% even at last night’s close of 13.25p.

I expect most shareholders would say bring on more “ poor old deals ” like that!

Not participated in your Grenadier experience tour - it might be great fun but I’m not seeing any incisive financial advice!

JohnBriggs

Posted in: CEG

Posts: 1,805

Price: 7.25

No Opinion

Drip drip again

5 Aug 2025 09:57

Despite all the fortunes that a await the faithful the bid drops yet again.... drip drip. 

NOTHING to see here. I mean like, seriously.

Briggsy- people will make their own minds up about who is the fool here. Considering your above post from August THIS YEAR the SP is up over 80% -if that’s the old Chinese water torture “ drip drip ” I’m thinking most shareholders would say they’re thirsty for more!

Talking of shame where’s yours for regularly attempting to undermine confidence in the shares - it’s a good job I’ve responded to your posts with facts and challenged your tosh otherwise you might have been taken seriously by someone!

It’s very sad you’ve sacrificed your credibility just because you made a catastrophic misjudgement on your risk appetite- surely you should be blaming your financial adviser!

I see from buffin’s latest post he has a professional attitude to risk - he’s read and really understands that shares can go down as well as up if there is a setback- have you thought about reading a book about investment or studying the government sponsored money advice site ?

Whether this is a pig of a deal is very much arguable - if you have now had an epiphany and believe many of the commentators predictions for future values the current SP is way below the merger value of 16p so CEG looks like a good buy in that scenario but please DYOR and in your case perhaps talk to a professional financial adviser - without a change of attitude I doubt you’re going to bring home the bacon anytime soon!

Rascal - thanks for keeping Woodsmith project in the mix. I’d like to see it accelerate but I accept BOD have to consider bigger picture - expenditure was beginning to feed narrative of an unacceptable effect on EPS so if they can attract a partner that suits wider shareholder base.

If they can’t get a suitable partner I expect them to bite the bullet, get it financed on competitive terms and forge ahead - massive amount already spent and product will, ultimately, diversify earnings.

ATB

Briggsy - in my cheerleading role I can’t give up the opportunity you’ve given me to heap praise on Eytan, probably second best today only to POTUS!

Let’s give credit to Eytan - he ventured to Uruguay, when others ridiculed him. He forged a transformational company deal with Chevron in spite of the doubters. He took his bonus in shares with a pledge not to sell for 2 years - backing himself and CEG.

This guy is a millionaire and can now take some profit in cash, if he wants - let’s applaud success!

Https://youtu.be/xMaE6toi4mk?si=j4lUfUDMzjZyMX_2

Briggsy - good morning to you! Great news for shareholders today, sorry the baggage from your previous decision didn’t enable you to see the positives in CEG.

Allow me to share a little of my market knowledge to assist your understanding. There are thousands of companies out there for investors to select and they all have different risk profiles.

CEG is, IMO, high risk, it’s possible it could totally fail in some scenarios, on the other hand 50p has been suggested with a fair wind behind it.

Eytan’s job is to promote the company and the SP. Seems like he’s done a good job there as others are salivating at the prospect he’s presented and have agreed the merger on terms that have seen the SP rise considerably today.

This is now a convenient stopping off point in for investors to sell, at a good profit, I’ll repeat that - a good profit, and move into something new. If an investor wants high risk there are other shares with potential similar to CEG to select. If investors spread their portfolio it lessens the chance of them being psychologically crushed by experiencing a huge loss they seemingly weren’t prepared for and then resorting to adoption of ridiculous stances on chat boards.

I’m no psychologist Briggsy but I’m willing to learn - was your stance here cathartic or did the negative exchanges prolong your agony?

Briggsy aside, investors believing in the CEG assets can continue the journey with the merged company and if the projects succeed they’ll do phenomenally well - if they don’t they will do less badly because the risk is spread.

Good luck to all CEG shareholders with the decision to make and congratulations for backing your own judgement and ignoring the trolls!

He’s keeping quiet - do you think he’s back in?

Kipper - you need to control yourself - I think I can speak for many on here - we don’t want to encourage your type of irresponsible ramping!

Firstly I’d strongly recommend reading the latest RNS, which, incidentally gives detailed information on the luxuriant cash position of the company!

The RNS makes it clear the OFF-3 public process has only just opened so although you may think a deal could emerge “ any day now ” it’s probably best not to raise expectations so soon, as the previous deal took many months to achieve, CEG say they are looking for offers by the year end, ( incidentally, many sorry stalwarts lost confidence in CEG in the intervening OFF-1 period, sold out, missed the SP increase and subsequently became trolls! ).

You say “ we need to raise funds “ - I don’t give financial advice but if you are considering borrowing to finance shares in CEG you should certainly take professional advice as an Oil Exploration Share on AiM is generally considered a high risk venture!

Obviously if I have somehow misunderstood your post feel free to clarify your position, for the benefit of the readers here!