Member Info for LGO-fan

SC: "...., is the S2 result is OK and delays are being caused because of funding negotiations for S3+, and possibly a mini-CPR is awaited."

Aren't you contradicting yourself. Sounds like a massive risk here is that any increase in SP following a positive/ok result from S2 is likely going to be offset by the dilution cause by a likely equity raise to fund S3 and onward

it all depends on the numbers, i.e. the business case. Might not be a bad idea.

you really seem to be expecting a lot from this. What is there to expect apart from what we have seen al those years? A rise, followed by yet another equity raise. A next drill, too slow after S2 to be truly accretive production wise. (by the time S3 is drilled, S2 will have suffered such strong decline rates, that by the time S3 is here we will be back to square 1). Even if they did have the cash for S3 (which they don't) T&T authorities will d**k around for so long that by the time the can start S3, S2 will be producing peanuts or will need water flow/CO2 injection. So it will be water paddling at best. Lots of noise to stand stil and never ending equity raises in between. Only hope is to get acquired by a company with an astute BOD.

big news/announcements expects by then, otherwise why go there?

another nuclear option: sell all assets, get rid of all staff but a view, become a cash shell, get acquired. (tax credit are a good asset).

most of what you say makes sense, but I would like to point out in relation to your last paragraph ( and this has been commented upon by LK during one of his interviews): given that the field is literally by the coast (you can see the beach), it would be very likely to strike a deal with an oil trader who would build a bit of infrastructure to pump oil onto a tanker. So that development cost can be easily avoided. Granted the trader would want to see that reflected in the oil price he pays. Main point being, I don't believe the development cost to be a major issue. All subject to proof that there is sufficient oil there.

agree. certainly not in the short term, which is what the BOD has said all along since "le mega-duster". It's on their corporate presentation as a long term project. Not sure why peeps want to conjure a story up about the Bahamas rising like a Phoenix from the flames any time soon, when even the BOD doesn't believe in it.

Could be, but I think it could just take a couple more days to analyse everything and issue the RNS.

hahahahaha, spot on!

you cannot seriously allude to fact that the BOD is issuing options now that they have seen results or indications that S2 will be successful?!!! Seriously?!!

everything always take a lot longer in T&T!

totally agree. Don't understand why people keep going on about the Bahamas when it's clear this story is over.

very sensible. I don't buy the farm in story either. The company has repeatedly said in various ways that the bahamas is now on the back burner (unless you plan a holiday there - nothing is going to happen any time soon).

And if you are part of the local government, assuming you see political gain in an offshore oil development project....why on earth would they agree to extend the licence to CEG? As a local government, again assuming you see political gain..., why on earth would you think that CEG is going to get the job done? Politicians want instant gratification...now think about how many years this company has had the licence and what they actually achieved with it....now ask yourself: would you rather hand the licence to another company or to CEG?

why do you think that will be the bottom price out of interest?

I am sure they are insured against it

Think so too. Some here are a bit too nervous. I can only imagine what they were like watching the footie yesterday, lol.

The people reading things into the penultimate tweet, are probably the same ones consulting the bones for investment advice.

I like the 3rd one most, lol

Hi Offerman,

Great to have you back here.

I don't disagree, but as you know we would need a much better deal on the Goudron assets to contemplate doing a deep dril there plus we would need authorisation to do so

Cheers

A bit dishonest that comment: if you have bothered to go back in time like you allude you have, you will have noticed these clowns never got anywhere near the SWP. LK managed to create a start at unlocking the opportunity there (it's really the only thing I give him credit for). So now with S2, S1 was not a production well as I am sure you very well know but to devious to acknowledge, the development of the SWP can start. Saffron, and this is just IMHO, is only a small part of the potential prize. But, as they say, time will tell. I would be surprised if the current clowns in charge will deliver, but pretty sure that when this asset lands somewhere decent, it will deliver significant value. D, you are really just as big a clown as Ritson et all. But, let's be clear: that is merely only ImHO. All must DYOR to make that assessment

B, one thing to note is that CEG is free to sell the oil produced from their assets in the SWP to anyone, anywhere...why could they not get the brent price?