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Shell has a nice presence in Trinidad:-) and would be (one of the) obvious candidates to invest in SWP if all turns out well.

WTI almost $73 now

it was a statement from the CFO, why would that not be correct?

thinking ‘Purple Haze’, Chesh....Excuse me while I kiss the sky!! :-)

26p, and not 1p earlier!! lol

has anyone ever seen sp-accretive equity raise? LK speaks about the transformative deal in terms of mcap...

it is 12 months, but these targets are often very aggressive. Regardless of which broker or share. That’s just how it is. That does not mean that the targets are never met, but most investors will look at them as a piece of information; as a part of a big puzzle if you will.

For sure, it will. Good points.

and given LK did raise shares as part of the Schroders deal, its hard to argue that it will never again happen. Personally I would prefer CERP to go at it alone; I prefer to see even a slower pace for building the company than issuing shares. The hit following dilution is usually instant, the benefits of the deals that causes are rarely instant. Only SP-accretive deals should be allowed; mcap-accretive deals should not be the focus as in theory the effect can be zeroed out via dilution.

I think Ross is suggesting that a run to a £500mn mcap will not be without raising equity, so more shares meaning some dilution to be taken into account. That’s fine from my POV as long as the sp goes up enough to make money.

hunt in packs, but trolls hunt in pairs (both here and on that other B.B.)

it wasn't wise to announce the smaller deal before it was a done...haha..deal. But hey, ho, at least LK has spirit, drive and is making great progress. 2018/2019 will be interesting

For those interested https://www.cnbc.com/video/2018/05/14/a-look-at-the-price-difference-between-wti-and-brent-crude.html So whilst the trend for WTI and Brent will be the same, there will be a gap. Just a bit of background information.

Everybody but our 2 residing trolls :-)

you thinking 7,000 bopd?

a must read article https://www.forbes.com/sites/daneberhart/2018/05/16/your-move-mr-president-oil-prices-headed-past-100/

CERP will soon have 1500-2000 bopd in 2019 No debt big deal SWP LK er al this a a CERP BB

indeed :-) Looks like in future you will need to change your “another day another XYZ bopd” posts frequently. How will you ever cope :-)

thanks Peter! I also just found this, from an old LGO RNS dated 30/10/11: “Icacos Field: a 50% interest in the Private Petroleum Licence area covering a total of 1,900 acres including the producing Icacos oilfield in the Cedros Peninsula onshore in south western Trinidad. The Icacos Field is operated by Primera Oil and Gas Limited, now a subsidiary of Touchstone Exploration Inc. Production from the Miocene Upper Cruse Formation in the field is currently derived from just three of the 14 wells and year to date production has averaged 18 bopd net to LGO's interest. A production enhancement programme aimed at lifting gross production to over 150 bopd has been under consideration for some time. Deeper exploration targets within the East Venezuelan Basin below the shallow producing Cruse are also of significant interest” My take outs: 14 wells, of which only 3 producing, potential for 150bopd, deeper exploration targets. NR is a good geologist, so I believe this RNS to be accurate. We now have a much better team in place that can actually deliver and hopefully we will soon be 100% owners of the field.

that would be nice. Does anyone have a clue as to the potential there?