Member Info for Obadhia

https://oilprice.com/Energy/Crude-Oil/Is-This-The-Beginning-Of-The-End-For-Texas-Oil.html

The question I'd most like to see answered by LK is ' What plans are you putting in place in order to best ensure that Columbus survives as a going concern in 6 months time?' Not the circumstances we find ourselves in at the moment, most of us can make an educated assessment of that or look it up on world news, more the arrangements that could be made to see us through, ie selected shuttering, deferred loan repayments, temporary layoffs, reduced salaries etc. Maybe even a SWP cash upfront participation option could be tailored for a still interested JVP, who knows, but what shareholders would appreciate is their guide to survival rather than leaving us to our own guesswork in these torrid times.

Don't converse with a piece of dirt.

'It is likely that producers will begin shuttering their operations as output becomes unsustainable due to current price levels which may help to provide a floor for crude.'

Sounds like the inevitable, common sense, would accelerate higher prices.

Thanks for your reply Bamps. Desperate times calling for desperate measures, still have faith in LK/GS/TH getting us through although quite how will call for canny actions on their part.

Hi Bamps, I'll address this to you as one of the few that bothers with broad research and industry knowledge.

Purely out of interest, how do you think, in a worsening scenario, joining forces with either TXP or TRIN could work for CERP? LK is down on record as saying the future for small Trinidadian oilies probably lies in amalgamation and so raising their industry status and negotiating clout with both government and Heritage. They all now own valuable fields and prospects and, separately over time, have struggled with growth.

And, just for the cynics on this board, in these extraordinary times, don't rule anything out when companies may be seen striving for survival. It just could open a brand new chapter.

In this set of circumstances there has to be companies that face corporate bankruptcy. Saffron result will play a large part in determining CERP's future but would add that LK/GS/TH are highly resourceful professionals, all with a good grip on financial dealings and that they can be relied upon for best efforts to keep Columbus afloat. Either you have this confidence in them or not. Not least, reflect that LK has 15m+ shares that he's not going to wave goodbye to for sfa.

Yes faz, unprecedented times across the world, massive pressures on the population, companies, markets, all the more reason for sharing concerns, working with as opposed to ignoring. What do I want to see from them? Simple, an honest appraisal as to the health of the company going forward, the contingency plans they will put in place in order to emerge from this mess.
There's little point in investing in a company when you're left with your own guesswork at critical times.

Would agree the BOD's communication with shareholders is about as poor as it can get, Questions to the Team long extinct, emails, even letters gone unanswered and on the rare occasions updates are released hardly all encompassing and, what little said, offered repetitively. Big change needed, if they wish to keep what shareholders they have left loyal.

TRIN's RNS came quickly and they lost no time in advising that the hedge they'd put in place, together with their low b/e numbers would see them through $30 oil. Their BOD is to be admired. Wish I could say the same for ours, just wish they'd acknowledge that silence stokes fear and realise they need a strong shareholder base to keep the company healthy. It's a two way street.

In essence the Saffron result will determine the severity of their contingency plan to get us through the next 3-6 months.

Hi Bamps,
Agree with your Saffron production guesstimate but, genuinely ask, what infrastructure/arrangements/costs are still required in order to get Saffron oil to market?

Interesting article from Oilprice.
https://oilprice.com/Energy/Energy-General/Whats-Next-For-North-American-Shale.html

Summary for shale. It has maintained production growth over the last year for two reasons. First, the rate of drilling has continued to bring new production on faster than the decline rate of older wells. Second, Drilled but UnCompleted wells, (DUCs) have been brought out of storage to replace production previously supplied by new drilling. Neither of these scenarios are sustainable, and absent higher prices to spur a resumption of drilling, will result in a decline in overall shale production. Not the growth rate, actual production. This will happen soon.

Wonder how many oil companies will share their contingency plans with their shareholders.
Will CERP?

Totally agree with all you say. LGO/CERP held just two years less than yourself.
Life changer or ruiner, still remains to be seen.

Hi Bamps, :-)
I know LC results scheduled for end of month but it would be good IR/PR to give guidance now as to how matters progressing.
S/holders have had a torrid time since the start of the year, I think we deserve more consideration than currently shown. especially as there's more snakes than ladders in this game! And the lower you go the bigger the climb back.

Well that will be easy for them Bamps, they hardly work closely with their shareholders come rain or shine!

You can always rely on OPEC to disagree amongst themselves. There will be quite a number of low margin, heavily indebted operators that will struggle to continue. In the longer term no bad thing for the oil price.

Krapp, you're probably too dense to know Shell have operated in Trinidad for decades and have onshore as well as offshore operations. You reckon high margin oil wouldn't attract them to discuss possibilties? Use your brain.

If the SWP proves to be as productive as thought then I'd imagine Shell would be one of the first in line to acquire an interest.

Meant to say 18 months at 3.5p = 6.7m which, on top of the 5.1p shares still equals less than 10m total.