Member Info for Madmaxium

Hi GG - bp has to be a lot more stringent in its efforts to go ahead and drill if you look at oil markets for that period, oil prices began to fall the oil boom was over for that cycle followed by a severe bear market. No doubt bp was aware of what was coming justifying a risky drill and exploration would not have been sold to the board making the decisions, during peak of oil prices majors always pull back and batten down the hatches preparing for bear markets which catches investors off guard every time because sentiment is high, during low oil prices growth is much more in focus for majors and exploration it’s apart of the oil cycle, like they said in their statements they had better prospects elsewhere at lower exploration costs.

My personal opinion is oil prices will climb by 2025 to near $180 a barrel spearheading exploration drills, CEG if it survives 2024 could see a nice jump up on hype but looking at if they actually find oil is anyone’s guess. But this stock has now ticked as being a growth stock, value stock and commodity driven stock all in one also outside the USA, Jeffery gunlach and Felix sulaf interview on YouTube back in dec may interest you,

It’s interesting how the Uruguayan government permitted challenger to sign a 30 year license, when the CEG at that time was facing severe financial hardship,

Ok buddy hope your investment works out for you, all the best

Yes I know they are spending money but you’re making out this have never been done before and I am telling you that is not correct it has happened before and on larger amounts.

Ok well that’s total and factually incorrect,

Bloomberg posted a article dated 5th October 2012 stating

Bp, BG, Total and Tullow all were going to invest in the region of 1.5 billion dollars in Uruguayan blocks, a simple search there is plenty of info out there and they are all independent majors. Do your research mate!

I did researched more into the consolidation tactics of companies and by my research we would need to be touching 3p to 5p for this to be considered as a good time to consolidate this stock without negative pull back,

1p many institutions are allowed to buy but not till then, I have a feeling if eytan can push it pass there they will come in and this stock will rally hard to these other levels and consolidation is very likely.

Check out how much BP, Ancap spent on its exploration compared to today,

A article showed in 2015 BP pulled plans of a billion on spending and got out of Uruguay they held 3 blocks,

I haven’t researched the others yet.

I am not trying to destroy your hype here just showing you this isn’t the first time majors have explored, it’s always good to view the past.

I know Eytan likes to make out this is a frontier ground but in truth these blocks have been leased to majors 4 times since 2009,

I have been looking into BP a fair bit during the campaign they had in Uruguay in 2009 - 2015, noticed although blocks where named and marked out differently the new area 3 CEG picked up or is about to be granted was apart of BP ground back in 2009 along with a stretch of shells ground off 2 deepest section to a small part of CEG off 1

BP in there statements spoke of potential site from 2D and 3D seismic but left for better prospects elsewhere, it was down to oil price per barrel against exploration costs and risk that turned them off Uruguay, they had the right idea as 2014 the oil boom turn to a nasty bear market, but did conclude if oil prices return to highs and the opportunity present itself they would return to Uruguay, bp has a lot of useful data on off 3 and could make a return. Worth thinking about. You can see the ground if you search oil blocks 2009 Uruguay and search images, over the years many have had a stab at this ground.

Well maybe,

Lol because it’s a website where investors share opinions on stocks,

It is a great thing to have opposing views regarding a stock, if it was all bullish and positive it’s a terrible sign,

Just take it for what it is, information some good some bad and some pointless or funny.

It’s an environment to grow as an investor and test your own bias towards a stock.

Willec I have no idea what you are talking about in the auction, is this a made up technical instrument you are following?

I have never seen auction prices as being relevant to trade on or predict stock moments with any accuracy.

Alhambra9 - I couldn’t stop laughing at your comment about madness to disregard proven experts and respected financial professionals,

Ever heard of conflict of interest, I am with John on this one, look it up you will be staggered how favourable reports are bought and paid for to seem legit and independent, it is a well proven insiders trick to pay for positive articles on company’s to spin a certain bias to investors.

Conflict of interest is a very good subject to look into for any investor these days as it is everywhere.

Notice how those articles came about only after CEG switched to them as a broker! Nothing positive prior odd don’t you think?

Bp seismic and 3D has already been done on that block in 2012 -2014 they deemed it high risk play and abandon the show due to low oil prices at $50 a barrel, kinda sounds like now.

Previous ground held by bp, from what I can gather they left the block due to low oil prices and less risky plays elsewhere at that time,

Well that’s a surprise RNS another block, tactically derisks and makes a more attractive prospect for a major to farm out with CEG,

a unexpected move has to be said see how the market takes that today.

Willec you’re getting as bad as Eytan, it’s always looking good in another 3 - 6 months away according to him.

Eytan was quizzed about that in his last presentation, the women in the audience asked if he was offered 200 million by a major to hand over the licence would he do it.

His reply was that’s not how the oil industry works there is a process they go through for farm out and majors favour farm outs to taking complete control of license.

He gave a example of a farm out - a junior company gives up 75% of the license for some cash up front and the major carries them through to the drill, that was classed as a good deal for the junior company. In the region of what he is aiming for limited risk and riding on the back of a major with a small percentage of controlling stake.

It’s the same meaningless and worthless wording as we have had “unsolicited interest from majors.” At least with a letter of intent it is given from a major showing their interest in writing.

Can’t hang your hat on it but at least it’s not hearsay which is what we are being sold in the RNS

What CEG needs is to show evidence of major oil producers Interest.. a letter of intent for instance the market would jump, a non binding agreement but would show the reality of a majors interest in doing talks about a farm out.

Looking at the movement of the stock it’s show how tired investors are of dreams they want to see material change.

Eytan acknowledged this at a recent presentation, yet still carries on with the same approach, what’s the saying about madness? Something about doing the same thing over and over expecting a different result.