Member Info for LGO-fan

All this speculation about bopd is, as fun as it may be, rather meaningless. The production coming from the Saffron drill in itself was never meant to be a game changer. The plans for the SWP, following a satisfactory results, could be a game changer. However, the latest corporate update hasn’t produced any plans or insights towards the next phase of the SWP...so unless this changes, 2020 looks like another transition year. Up to the BOD to prove otherwise

Good question, Chesh. Peter is oneof the few here I would actually trust. Hope to meet him at an Agm one day and wish him and his wife well.

Agree on all counts. Being critical doesn’t mean one is a shorter or whatever the infantile brigade comes up with, it means you want the company to do better!

What fundamentals, Garn? We haven’t got any (worthy of that phrase). Tiny production and a long list of broken promises. We can sit here pretend it’s all great, or realise people like Schroders are selling because it’s just not good enough. I wonder how many self-proclaimed LTHs wil be here when Saffron results come out: will they be happy with 50bopd, 150 bopd, 200bopd.... no one dares to dream about higher numbers because very few facts have been communicated. The results will have to be pretty spectacular for people to sit up and take notice of CERP. And even if the results turn out to be special, what 2020 (or even 2021) plans has CERP communicated to get excited about?!

As much as I want them to succeed, there simply isn’t enough on the table. The latest corporate update made that painfully clear.

People thinking they can talk the sp up or down here are delusional. To bring the sp down: we have schroders, paying contractors in shares, issuing shares for director fees and a very long list of targets LK never seems to hit: Goudron steady 1000 bopd base line, WF, SD acquisition “accretive M&A”, accretive equity raise to bring Schroders on board, making so much money we will be able to pay dividends soon if we wish, etc etc ...I hope he will deliver on something substantial soon: SWP, WNZ....not looking like it will be 2020... scream all you like, he is not delivering on his own expectations. Anyone saying the contrary needs a quick check up!

*not living up to mine that is

Neon, behave! If you feel the sp is living up to your expectations: great! But it is living up to mine. I guess you lack ambition (not to mention intelligence)

27mn shares sold
plus 2 x shares issued to pay contractors
plus another 15 man shares issued tomorrow for directors pay...

You guys aren’t seeing the reality here.

Other than Saffron (It’s hopefully going to be ok, but a game changer seems very unlikely) there is nothing planned for this year for SWP.

Revenues won’t come in quickly enough to fund the next drill. All too familiar: is exactly what happened all these years ago at Goudron. I can only see more equity raises on the horizon.

(for the infants on this BB: holding, haven’t sold a single share - unlike traders like Chesh - an see no reasons to buy either. No happy with Lk et all)

Do they have a cornerstone investor selling?

So no end in sight of Schroders selling then?

SP has taken a beating since Sep 19....almost 27mn shares sold. Why on earth would they stop here? There is no reason for it. And if Schroders did indeed have this as a plan, surely LK would know and surely some a form of communication would have been issued by now to reassure investors?

All I see is there holding going south and so is the sp. Really not sure what is so difficult about this. In addition we are paying contractors in shares, who will - guess what - sell at the earliest convenient time. There is no immediate amazing news around the corner, so guess what...nothing to counter balance all the selling, Again, what is so hard to grasp here. Being a shareholder of a company shouldn’t make you less critical; infant it is the other way around.

This share is only fun for the traders like Chesh, who lack the intellectual integrity to communicate their real intent. Trolls are a nuisance, wolves in sheep clothing are worse. All IMHO. At this rate, this will drop even further. 1’s searingly close around the corner. Wake up and smell the coffee

So they are and most likely will keep on selling. LK will not have been able to convince them to hold; most he will have gotten out of them would be a vague promise to sell in an “orderly fashion” (as if one can can sell otherwise?!)

Still a lot of shares to offload....bottom now? Doubt it: Schroders will continue to sell and meanwhile the timeline on the latest corporate update suggest there is no game changer in sight....

Why are you saying Schroders have stopped selling? Do you have any evidence for that? Hope you are right, but would be great if you could point me to anything to back that up. All I have seen is a TR-1 showing their holding has dropped?

What a joke this BB has become. Now the LTHs are attacking each other! V-max(“there is no whiskey in the jar left”), get a grip! For once we have a great poster like Bamps (though he does remind me of the Onceatrader, who I liked a lot).

Oh, well maybe a sign this company is going nowhere and now we are turning on each other. Keep the focus: attach ****heads et all. You will be hard pushed to find nastier one-cell-organisms!

totally agree!

Hi Bamps,

I am looking at slide 2 of the latest deck CERP uploaded (Time line). It looks like the Saffron testing is still scheduled until en Q1; that is assuming it doesn't take longer than Q1. If we don't have a commercial success in Saffron, than looking at the rest of the time-line, there is nothing that strikes me as having a potential "game changers".

1. WNZ: Tesing phase, and nothing material to be expected this year
2. IT: Test - followed by pilot. What is a pilot other than a test, anyway? Am I right in saying we will not see any major positive bopd coming from this? the $4mn comes to mind of course: do we know if the test needs to be a success or test and pilot ? If both than I don't think we will see anything material out this one either for 2020?
3. Goudron: that remains base production and we haven't heard anything recently about WF, so hard to believe that will change anything for our fortunes either
4. Leaving SE, but that is "optional" - so can't see this helping us a lot either.

All in all, seems that 2020 is at high risk of being yet another "transitional year". Unless Saffron is hit.

Thoughts?

Hi Bamps,

I am looking at slide 2 of the latest deck CERP uploaded (Time line). It looks like the Saffron testing is still scheduled until en Q1; that is assuming it doesn't take longer than Q1. If we don't have a commercial success in Saffron, than looking at the rest of the time-line, there is nothing that strikes me as having a potential "game changers".

1. WNZ: Tesing phase, and nothing material to be expected this year
2. IT: Test - followed by pilot. What is a pilot other than a test, anyway? Am I right in saying we will see any major positive bopd coming from this? the $4mn comes to mind of course: do we know if the test needs to be a success or test and pilot ? If both than I don't think we will see anything material out this one either for 2020?
3. Goudron: that remains base production and we haven't heard anything recently about WF, so hard to believe that will change anything for our fortunes either
4. Leaving SE, but that is "optional" - so can't see this helping us a lot either.

All in all, seems that 2020 is at high risk of being yet another "transitional year". Unless Saffron is hit.

Thoughts?

"In the past"....I am not a trader but look at the share graph from the last couple of months....not many opportunities for traders IMHO...share has been steadily declining since sept...more or less when we heard Schroders was selling...This is not a issue of traders and shorters...That's an easy excuse far too often used here. People like evil enemies, gives them someone to blame. IMHO. Anyway, back to work!

I just read these 2 RNSs again:

13/9: ""The Executive Salary Scheme has, over the past two years, helped the Company preserve its cash and align the Executive Management with shareholders. As we head into the third year, it's appropriate for the Executive Management to return to receiving 100% of their fees in cash. This will have the benefit to shareholders of limiting the total number of shares in issuance."

13/2: "As previously announced, the Company's directors and executive managers ("Executive Management") currently receive 50% of their fees in Company shares (the "Executive Salary Scheme" and "Remuneration Shares"). The Executive Salary Scheme has assisted the Company in both managing its cash and also ensuring Executive Management interests are aligned with the Company's shareholders. "

I can only assume there was a typo in today's RNS: Should read "used to receive", rather than "currently receive", giving they are converting options received in the past.

Still, "empty RNS", "corporate download not working and errors in the RNS...not their finest morning!

Did like the cash position - that at least looked good