Member Info for LGO-fan

I would assume: 1. AR 2017 2. Q2/18 update Hopefully in addition: 1. M&A update 2. SWP plan

Plan the trade and trade the plan, hey. I wanted to get in before SWP and increased my holding since LK came on board. You may well have a couple of weeks time, or maybe not, but one thing is for sure: that window is closing for all of us. As time goes by the odds increase to the holders. All just IMHO

I would like to learn a bit more about the WF trial phase: what have we done to date, what are the learnings, what does success look like ....in other words what KPIs do we need to hit in order to confidently say this is an economically viable project and worthwhile doing at a larger scale. I have no doubt LK will inform us of this in due course, but is something I look forward to. It’s not mission critical I think for CERP, but will definitely speed up our efforts in SWP.

Agree Rugby, although I would like to have received a bit mor info on WF: it’s been a bit vague in terms of when we should start expecting results. But overall this is looking increasingly positive.

Ross, I couldn’t disagree with you more. It’s not the first time, and am sure it won’t be the last time.

this is only a technical analysis. Everyone trading on those alone, is purely gambling as any investor knows fundamental analysis is far more important than technical. Not saying technical has no role, but in the balance of things I would say it's 80% about fundamental analysis, 20% about technical one. Not the other way around. I wonder why Ross did not mention that....hmmmm.....think, think

from that other B.B. garnhiem80: It would be nice.. depending on Bonasse and Goudron water injection showing results I suppose. In other news.. another field to be put to another “private”; company. “Newsday has learned from a reliable source at Petrotrin which is holding $800 million of A&V ‘fake’ oil earnings, that moves are afoot to hand over the Catshill fields to another private drilling company.”

aha! thank you

Does anyone know how many companies participated to the tendering process for the Spanish fields? Should be in the public domain, no?

Good to have you back, Vmax. Agree re SWP. Re Spain, let’s see if we get it and then if we can secure a JV. Lots of if’s for the moment. We are opportunity-rich, but I suspect CERP will have to make choices at some point. Maybe Spain could become a cash generator to boost SWP-efforts? Who knows. I do wonder though how CERP could pull off Spain and CERP? I do prefer focus, but am sure no one needs to tell LK that. It’s always better to have more options rather then fewer. As long as it aids the big plan and does not distract from it, I am all for it.

hmm, yes there still is Spain. The pile of cash will only be for one project I suppose? E.g. enough for SWP or enough for Spain, but not for both. Correct?

Fair point. I guess I just wanted to highlight that LK gets sometimes ahead as seen in a couple of cases. I think it's unnecessary, and should ideally be avoided in future. I think the Schroeders deal hasn't been accretive to the sp yet, but will be as when we $4mn in cash gets successfully invested. Logical assumption is that this will be used for the SWP, but would be great to get formal confirmation about that. Hopefully our CFO has been clever with the capital and made it grow. By the time we use it, it is likely to have been available for 12 months.

indeed. Hence my “rant” when CERP issued shares for Schroeder’s. Very happy with a cornerstone investor: but they can join via the open market rather than via a share issue.

accretive.......a word invented buy the evil finance community to confuse commoners like myself:-) I simply replace that word with "higher than", so if a certain deal should be accretive to the sp, it means our sp will end up higher. Yet to be seen with our cornerstone investor, but we patiently wait in the confidence it will happen

No doubt LK is Champions League where as NR is...well, not sure what league but I don’t ever want to watch it again!!

Hey Chesh, I have even less hope in the Belgian team than most English have in their England squad. Must be a self-defense mechanism :-) Accretive for me means it leads to a higher SP and that hasn't materialized yet (in a sustainable manner). So as much as I would want this, and as much as I love having a corner stone investor, we still don't have a share price that is significantly (or seriously accretive), as LK stated. So, again, for me LK just needs to control his enthusiasm a bit in his statements. One slip is fine, but I would not want to see him get into the habit of it. It's not needed and can only add to frustration, wrong expectations...There is no upside to it.

hi nimbidc, I assume your 3-5 reference has to to with my sp statement? LK did make sp predictions in his first interview (was a mistake imho): he spoke about sp predictions “after summer” and run up to new year. This was 2017. He later rectified his mistake by taking about mcap ambition in 3-5 year (which is the right thing to do imho).

things always take longer than expected, regardless where you look: your personal life, professional life, CERP, England to win a 2nd world cup :-) What is more surprising is that despite all of that, people always think things will go a lot faster than how it eventually turns out. Including our very own LK, who has a tendency to get ahead of himself. LK needs to be a bit careful here IMHO: if you make bold statements, you need to deliver on them on time. So “M&A deals within the next couple of days”-like statements, SP predictions (his first interview), Schroeders will be accretive.... I like the man a lot, but some careful thinking about certain statements is warranted.

I think LK will def try to team up with a big oiler, however CERP needs a proof of concept, i.e. demonstrate via at least one well that there is lots of oil down there. This could be done with one well, targeting 3 levels as LK explained before. All these big companies need to see is that CERP delivered a sufficient level of bopd out of SWP.

800-900 bops will be pretty sexy IMHO, certainly because it wil have been achieved without drilling a single new well, and it will be sustainable and profitable increases. The cash from that will go towards the SWP as we know. So, I would like LK to communicate about EBITDA a bit more and not only about bopd. That is only one factor or many to assess.