Member Info for Obadhia

LGO-fan, the presentation does suggest $3m for 'fast track full development' but I would suspect the drilling contractor would be meeting the cost of drilling and certain surface works but by no means the whole finished operation. The more Columbus self-fund, and the MC should contribute here, the sooner they reap the 75%.

Hi Bamps, excellent post this morning and quite credible estimates imo. Can’t wait for further findings from LK & team to underscore. Just one little point and that’s to correct your ‘asset of 73p’ which, (exchange issue), should maybe read 58p. No matter, we would all gladly settle for that at some stage in the near future!

Just an S2 calc on the non-existent fag packet, 500bopd, maybe too little but a not-over-the-top expectation from a successful well which let’s say costs the driller $1.5m. Calculating at $36pb his 75% take to repay this amount would take less than 5 months before proportions flipped and CERP were seeing this income (third of $1m each month thereafter). Had a JV oil co participated we would likely have seen a fixed and ongoing 50% disappear from revenues whereas finding a driller prepared to risk all in a case of failure at nil financial cost to CERP is really a brilliant deal and shows the driller’s confidence in a successful op. Excellent deal, well done LK/TH.

Lastly, don’t know Peter, never met or even conversed with, but appreciated his clever poetry and admired his stance against all the idiotic taunting that plagues this board. He and I are not of a dissimilar age group that in all truth should not be still involved in the AIM market. But two years from now, if we’ve the legs, it could well turn out a happy ending.

https://guardian.co.tt/news/us-probes-tt-fuel-shipment-linked-to-venezuela-6.2.1108194.2b869c66b6

Think we're all aware that stability in the share price is impossible whilst contractors' shares remain granted, or for that matter to Lind or any other parties that accept in lieu of cash. It's an arrangement unfortunately borne out of necessity that, hopefully upon success at S2, will no longer be needed and the sp can rise unimpeded.
A lot of us have held LGO/CERP for 10 years plus so not long now, in the grand scheme of things, to wait and be rewarded.

Yes, at last we're very nearly there, let the truth be told.

Today reminds me of that film title, The Longest Day . . . .

Hi Bamps, know how you feel, it's impossible to be wholly confident when Koot has made a habit of over-enthusing in the past only to disappoint in the final analysis. Most LTHs go forward in hope rather than expectation believing that one day, law of averages etc, something good one day will be announced, significant, transformational, stuff of dreams. After virtually 6 months dreaming of success at Saffron it can't go wrong now . . . . can it?

TXP, at the current price, is not over-valued by any means . . . CERP remains Trinidad's wildcard . . .Trinity without doubt the best placed right now. All obviously from an investment pov and goes without saying, imo.
Suggest you post your question on the TXP & TRIN boards and remember that honest, unbiased opinions are few and far between.

Bamps, entirely agree, we need an all embracing company and operational update, warts and all. Not just covering Saffron, although granted that was probably initially all that was planned but in view of worsening industry developments if other critical matters are left uncovered it will be less than satisfactory. Openness and honesty please Mr Koot, update your invaluable retail shareholders with full detail as to the plan of action to see Columbus through the next six months.

Tomorrow will see 895m shares in issue, up 66% from the initial starting point of 539m. It will also be two months since we've seen a new Schroders TR-1 and with Monday’s issue would mean it would only take a sell off of 3.78m within these last couple of months to move them to under 10%.
In these past two months we’ve seen circa 22 sales of exactly 500K and it’s these round number I’ve been concerned with most because, in the absence of Schroders notifying to date, these shares you could say with a fair degree of certainty were the 9.5m contractors shares issued 19/2. It has amounted to one 500K sale every other working day, the damage to price and sentiment for all to see.
Another 9.5m contractors shares will be issued tomorrow and who would doubt the same selling pressures forthcoming. So would it not be more sensible to propose an open offer to shareholders, place the shares in safer hands and ring fence the proceeds for these contractors outgoings and so largely put an end to the almost daily selling pressures? Not a perfect solution but surely a better situation than we have now? Open to all directors to take part and actually part with money as well!

Point is with the world only consuming approx 30% of the normal daily oil output a 10% reduction, despite being a record cut, hardly corrects a situation which many oil pundits reckon will result in all oil storage space totally filled within 4-5 weeks.
So much for faking Trump congratulating himself by brokering the deal 'saving thousands of companies and millions of jobs'.

As you say Bamps, the news flow that last 6 months has been poor! Which would make the average shareholder suspicious that there is no good news to impart, I've never come across a CEO that has failed to grab the chance of 'stopping the rot' by cheering s/holders and supporting the sp with any encouraging piece of news they can find.
imo it wouldn't surprise me if negotiations are currently taking place, an amalgamation of sorts with Koot stepping down.

https://oilprice.com/Energy/Oil-Prices/Global-Oil-Producers-Agree-On-Joint-10-Million-Bpd-Output-Cut.html

Good luck Razorman, can't help thinking you must have an awesome pair!

My guess would be Heritage have initiated the delay over concerns that Columbus are insufficiently capitalised right now to enter into a long term production agreement but have granted this 3 month extension to allow them the chance to re-capitalise to an acceptable level. An oil price >$40 asap would go a long way in helping them succeed here.

Big day tomorrow news-wise? Or by this weekend latest? A FULL UPDATE PLEASE MR KOOT & TEAM.

Not just the result of your Innis IPSC re-negotiations, but more crucially how you are coping with CV restrictions in the workforce and island, the current wti price/collapsed demand and the plans you've put in place to overcome and see the company through. Then, operationally, how are we faring starting obviously with Saffron, the great white hope, how Goudron water injection is progressing after a couple of years and months of silence and maybe an update on WNZ EWTs?
As for Innis CO2 we'll get our updates from PRD. Comment re. cash now held and commitments re. contractors payment scheme would be appreciated too.

Difficult times for all, worse for those in the dark, so share your thoughts and plans with those retail investors who you have acknowledged in the past as the backbone of this company's support.

Disagree LGO-fan. I think investors have waited long enough for honesty and openness and this, imv, is far more relevant in importance to s/holders than concern to market conditions temporarily affecting the sp. Had we received a crumb of comfort, MC commercial worth aside, would we be now at a third of the price compared to 3 months ago? The BOD are, again imv, displaying dereliction of duty in their lack of updating shareholders with key information, it engenders doubts that result in selling. We need a comprehensive update asap as to where we stand now and, in the face of all that is threatening the company how we intend to battle through. We're shareholders not bystanders.

Why would you care LLL?
You're not invested, you've no interest other than to upset and annoy holders by making sure you never miss an opportunity to cast doubts about the company's directions and chances of success. If it were you who was deeply invested would you like to be endlessly reminded that your company, amongst so many others, will be experiencing a tough fight to survive? I'm sure if you searched a little harder you'll find a streak of decent humanity, if you must post remind yourself of this before doing so. Oh, and always remember the truism, what goes around comes around.

Cheers Bamps, just maybe we'll be a whole lot wiser to a range of topics come next week if LK can emerge from his deep sulk.

Hi Bamps, appreciate all your fiscal workings but Innis viability costings wouldn't have been done at $25 WTI., by all accounts it's a temporary dip.
I would hope that at a more realistic $45 the whole project produces really worthwhile returns to both parties.

harel, you can re-negotiate debt and such is their relationship with Lind that that I would imagine has already been put in place. The bigger questions, are they still pumping any oil, even at a loss, and is the market still open to take it. Until we're officially told by the company we remain in the dark with only our own guesswork. Personally I get more and more disappointed by this BOD in their slowness to advise their shareholders and update on critical events.