Member Info for in4cedros

LayLadyLay - my interest in where LK actually lives in Portugal was a gentle pisch take of you !

I'm pretty amazed you didn't realise that but borderline flabbergasted that someone who has spent many years on here trolling decided to check the residency position of LK and reveal it on here as if it was significant information that we all needed to know. I'd like you to explain to readers here why you believe it's significant.

I have to tell you how impressed I was to see Tom Butler at Nazare, northern Portugal surfing a 100 ft wave last month - reminded me of an occasion I took a swim on that coast and to enter the sea you had to dive through a wave about 6 feet high - lucky to emerge unscathed - I think that was the last time I saw my Post Office Book!

Chesh - I think you just beat LayLadyLay to it on the oil price update ROFLMAO!

Dross - all this talk of over 4000 bopd flow rates from deep onshore drilling is surely not going to help Irene's FOMO!

Chesh - MRS is his favourite - our trolls would have a field day on it as it’s got credit card interest rate borrowing, low free cash and potential suspension soon if they can’t find a new NOMAD plus a chequered history but they appear to be trading well and they have a big shed ( which I love ) !

12bn was tipping it in the 7s so he’s already worked his Jonah magic on it and staff/ directors bought Placing in the 6s not long ago - not one for our Post Office Book heroes !

Irene - perhaps you can come up with another sycophantic gem to try and coax some dialogue with bigmj - worked well for you last time didn't it !

Chesh - wouldn't surprise me if ' strong and stable " makes a saturation comeback when he makes the official switch back to ramping !

BTW I've thought for a while that dross is getting desperate and now I'm suspecting him of peeking as he used ' crystal clear ' in one of his posts only hours after I used the same expression on here - another schoolboy error?

Irene - it's the impressive team that inspires them and YOU - care to tell us why you are so impressed Irene ?

LayLadyLay - is it dross just warming up his next new stance ?

Dross - most shareholders here would have been happier if Goudron was plain sailing but the production figures show the LK plan was viable and he had the acumen to problem solve to keep the oil flowing. The experience will assist with the multiple projects now being worked on.

Industry professionals ( and Irene ) find him and his team impressive and are prepared to take his paper!

Dross - youve suggested LK has masked something here but I see it more as an exposing your poor deduction skills. LK gave a figure for TI production in the update so unless you were educated with Dianne Abbott you should be able to make the connection!

LK has the information to manage the business ( it's not the first company he's run ) and I'm sure he'll share his plans with us shortly - in the meantime the availability of Lind facility, unfortunately for you, mitigates any CapEx issue you have concerns about.

trout - you may be relaxed about the NOMAD issue but there is an argument that some SP weakness can be attributed to the uncertainty. Perhaps they are having problems or the management don't understand market sensitivity on the issue - the rns in November put negotiations at an advanced stage whereas Paul Brenton was quoted by Total Market Solutions ( post December results ) as ' making steady progress here ' - not the most emphatic term he could have used to follow ' advanced '. When information is scarce the entrails get picked over for slightest nuances!

Happy New Year All!

Irene tells us Leo and his colleagues are an impressive team - i don't doubt you Irene and I admire your confidence in telling us how you really feel about this company - i'm sure your supportive words meant a lot to the core shareholders here in 2018!

LayLadyLay - what have I stated that I know is incorrect - YOU are the one who stated my figures were a fantasy but still can't back it up !

LayLadyLay - what have I stated that I know is incorrect - YOU are the one who stated my figures were a fantasy but still can't back it up !

LayLadyLay - 'Don't bother trying to prolong this discussion because I'm not interested in anything you have to say ' .

If you don't want to talk to me don't claim my figures are fantasy and not be able to back up your claim. I can see why you trolls don't like talking about independently sourced netback calculations as they don't play well for your side and benefit the truth seekers !

You say this is 'a fairly useless piece of information ' and I couldn't agree more for non shareholders and those with no intention to buy - but as an interested shareholder I like to know what the business fundamentals are how increases in production affect the revenue to the business. You may be aware the business has been loss making for many years and G&A deductions have been highly significant in that - efforts have been made to reduce G&A and although they are welcomed increasing revenue is much more likely to make the business profitable in future.

LK has increased production massively so far from Goudron and the point, which you now accept, is that the increased production earns prime rate netbacks so that when the next accounts are published it will be clearer to see how the company is progressing financially.

I'm sorry you weren't able to readily grasp the significance of the % calculations - I'll try it one more time! If CERP produce only 151 bopd they are 100% paid at the sub prime rate and that's not good but every barrel over 151 earns the higher rate, which is MUCH BETTER!

I have never said the netback calculations take account of the costs of actually extracting the oil but most commentators seem to accept that if you double or treble the oil coming out of the same wells the overall impact is very positive for the business - that was the basis of the LK plan for Goudron and even Irene believes the team are impressive. I give no guarantees about future profits and wait with everyone else to see what's revealed - certainly the prospects appear very exciting and the company seem to be moving in the right direction.

I strongly recommend you filter me if you're not interested in anything I have to say - it certainly appears to work well for Ross!

Dross - I've commented on Goudron IPSC because that is the major producer at present.The last part of your post shows your business acumen - I'd much prefer the non- IPSC contracts as CERP will make much more from them per barrel at lower or higher WTI!

LayLadyLay - my point about netbacks is a very simple one which you now appear to understand - there are 3 tranches in the calculation, the first 2 apply up to 151 bopd and are at a lower rate than the prime tranche applicable to all barrels over 151 per day.

I have converted the figures to bopd from per month because LK provides the production figures as bopd - apologies if you weren't able to make the conversion from monthly to daily, small wonder you struggled with the overall concept!

If CERP were only producing 302 bopd 50% earns at the sub prime rate - if production is 604 bopd 75% earns the prime rate!

You are quite wrong to claim I ignore all the deductions that are specified in the document as I have included an amount of $8.50 per barrel to cover those costs based on NR's figures but if you want me to use an alternative in future I'm happy to discuss that !

You claimed earlier that I'm fantasising about these figures - glad you've proved yourself wrong - as I've said before a good troll comments on issues where there is uncertainty and proof can't readily be obtained to clarify !

PS - your post is going to be a big shock for Dross!

Dross - you have to be the master of consistent inconsistency!

All this sudden concern about WTI - LK took the helm 10/05/2017 @ $47.33 and soon after it was down to $42.53 - but that didn't stop you saturation ramping CERP for many months and that was before the recent change from Petrotrin to Heritage which has improved the price from almost 7% below WTI to circa 3% above WTI - what are you like dross!

Bamps - joebop is knowledgeable about the netback information - I'm giving him credit in my book for being the first to give good publicity to the independently produced CPR on the CERP website which contains the detail - shame for Dross, LLL and wannabee troll Stocky!

Jim - Dross and the other trolls don't understand the IPSC calculations, which are on CERP website under CPR.If they did they wouldn't draw these foolish conclusions about the impact of WTI on the CERP business model.

LayLadyLay claims I'm fantasising about them but when challenged doesn't want to back up his claim.

I don't object to fair comment and a good troll should be able to come up with something new each day to cast doubt on activity in a real news void - the netback formula can be checked and it's crystal clear that once the sub prime tranches have been covered ( above 151bopd ) prime rate is earned on the balance. Dross is using information from a production level at Goudron where the quarterly average was 327 bopd !