Member Info for LayLadyLay

There is a good article on Bloomberg about the dark side of zero fee ETFs. I have often said that there is no such thing as a free lunch and nowhere is this more true than in the world of high finance and investing.

So what has this to do with CERP? The very last sentence of the article had me thinking of the so called free acquisition of acreage in Suriname.

“People who are happy paying nothing for something are going to get what they pay for.”

Food for thought!

Do you guys drive through red lights on the assumption it's a risk worth taking? Some of you wouldn't recognise a red flag if it was waved in your face. I see ridiculous ramps and projections based on hot air and nothing more. There is yet another delay and the company is not saying anything. Are you feeling lucky?

in4cedros - I don't have any issue with CERP cutting it's cloth according to its means. Having a virtual office rather than employing staff is a matter of necessity and is a money saving tip from LK. Another money saving tip is not working on a bank holiday!

It must be squeaky bum time for you as SWP is the raison d'être for your years of following this company. Whatever happens you will have some new material for Edinburgh Fringe. How about starting off with "when is a spud not a spud?" ;)

I think this must be another of Peter's poems.

https://2.bp.blogspot.com/-falDF2NXNeQ/W55WbVs0bzI/AAAAAAAAC9Q/IBeLfOoUR6EnUcJPLNi_9_7W8wOqEJ0pQCEwYBhgL/s1600/P1000831.JPG

Gibbo1066 - I believe that the London office is a Regus virtual office. The lady you spoke to probably only knew you were calling Columbus because her phone flashed up which company was being called. She would of course be polite and discreet and then refer back to base to find out what she should tell you.

It's good to know that they are all enjoying a well earned rest. Carry on Columbus ;)

It's not a case of being interested in the presentation Chesh. As a matter of fact that's an old presentation from July and the one I refer to is 18th October on CERP corporate website.

You are very trusting if you take everything said in a presentation for granted. Since the date of the presentation you referenced, Schroders have sold one million CERP shares and may still be selling in the background. Magoo calls anyone selling 'thick as mince'. Let's see how this plays out in reality, not the fantasy some of you are dreaming of. All the best.

This is included as a rider at the end of the presentation.
"Certain statements in this presentation are “forward looking statements” which are not based on historical facts but rather on the management’s expectations regarding the Company's future growth. These expectations include the results of operations, performance, future capital, other expenditures (amount, nature and sources of funding thereof), competitive advantages, planned exploration and development drilling activity including the results of such drilling activity, business prospects and opportunities. Such statements reflect management's current beliefs and assumptions and are based on information currently available.

Forward looking statements involve significant known risks, unknown risks and uncertainties. A number of factors could cause the actual results to differ materially from the results denoted in these statements, including risks associated with vulnerability to general economic market and business conditions, competition, environmental and other regulatory changes, the results of exploration, development drilling and related activities, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company.

Although these statements are based upon what management believes to be reasonable assumptions, the Company cannot assure investors that the actual results will be consistent with these forward looking statements.

Chesh - The presentation you refer to is a sales brochure, not regulatory news. There is a big difference between a RNS and a few pages of glossy presentation which are aspirational at best IMHO.

Assuming Saffron ever gets spudded, what would be the effect on the company if the well is non-commercial? Would this stop the company dead in its tracks for want of funds to drill another well? It's a moot point because we have not had any quarterly updates for some time now which suggests that the financial picture is looking grim.

Is Leo betting the farm on this drill in the hope that any modicum of success would enable funds to be raised for future exploration? If so then we should be concerned as to how he could raise funds following a failure at Saffron. He would have to show the true financial position and much would depend on whether or not the company is viewed as a distressed company looking for funds to enable survival. Funds may not be readily available other than via a Yorkville type of arrangement.

My view is that in the absence of recent financial and production updates a desirable outcome at Saffron is more than a transformational opportunity. It could be crucial to survival of the company. I'm happy for my assessment to be proved inaccurate but the missing updates and now the delay on spudding Saffron is, IMHO, a red flag that should not be ignored. Is CERP in the last chance saloon that was previously occupied by LGO?

* LTHs :)

I did of course mean 'stampede for the exit door'. Or will the faithful LTH's hang on in there, resolute to a man/woman never to sell a share?

Peter will be rushed off his feet if there is a rush for the exit door.

I suspect that this leak has come from someone 'familiar with the matter' at Galliford Try. Graham Prothero needs to address this urgently and make a statement confirming or denying the accuracy of the allegation. If his intention is to leave and join Bovis, having sold Galliford's crown jewels to that company, then he needs to step down from any further involvement in the proposed transaction as he can't be on both sides at the same time.

The £300m cash element will help capitalise the construction business but we need to know in more detail how they intend to proceed and what value is attached to the remainder of the business post transaction.

J99MES - " flew my drone over the drill site on friday at 5.15pm and its turning so RNS ON MONDAY must be half way there now....??...."

In your dreams J99MES ;)

https://www.youtube.com/watch?v=gBzTVPCXg8o

@Columbus_ERP
1 Aug
SWP drilling proposals submitted to the Ministry. Approval anticipated on time for September drilling. Q&A on drilling timetable on Company website. #CERP #SWP #SWPdrilling

A fund raising is coming to a screen near you IMHO. Kootsie is in full salesman mode. This has LGO/Ritson revisited written all over it IMHO. Rampers will try but you can't polish a t urd.

Chesh - I didn't mention a placing. There is more than one way to skin a cat. A Freudian slip on your part methinks ;)

I wouldn't agree that there are zero upfront costs. There may not be an upfront payment to Staatsolie but there will be setup costs plus the cost attributed to fulfilling the MWO (Minimum Work Obligation). At worst, if nothing commercial is found, these costs fall entirely to CERP. If there is a commercial find that is sufficient to interest Staatsolie then up to 50% of costs related solely to that find will be reimbursed by Staatsolie in exchange for an up to 50% interest going forward.

It's a 'no brainer' for Staatsolie as they can't lose and stand to make something should CERP be successful in locating a commercial find.

This PSC is akin to a landowner agreeing to let a group of metal detectorists roam his land in search of treasure. He stands to gain if they find something otherwise the time and cost of searching for something that might not be there falls squarely on those who seek to find a hidden hoard.

Only time will tell if this is a smart move or simply another expensive mistake like Spain proved to be.

My humble view is that CERP are close to skint and so I expect a fund raising exercise of some kind aligned to promises of accelerating plans, unless, of course, Saffron is a gusher. Place your bets ladies and gentlemen :)

In4SWP - no problem. I did wonder if you were implying me and Ross are the same person as some have tried in the past. I don't have any axe to grind re CERP and my views are impartial. I am interested to see how things develop now that drilling of SWP is close at hand. From a balance point of view it's good to listen to both sides of the divide and to form your own opinion as you say you are doing. As for Wendy, she's my girlfriend. All the best.

It's party time!

Happy birthday to my darling Wendy xxx

https://www.youtube.com/watch?v=6IisSG9tjnM