Member Info for Obadhia

Still can't figure out remuneration details. I believe LK's salary is £300Kpa, so £150K in shares, £150K conventional money.
Directors buying into their remuneration scheme at 5.1p varying to 3.5p
Say £150K divided by 5.1p = 3m shares, the next £150K divided by 3.5p = 4.5m, generously calculated.
Fail to see how the 12.5m shares are arrived at.
Someone no doubt can and I'd be grateful if they could advise. TIA

Yes, silly error, meant £282K!!

Sharecast News are in error.
LK's shares were acquired at 2.27p each, a total value of £2.82m

LK said he would buy on the open market back at the AGM, once the Suriname deal was out in the open.
Don't hold your breath.

neon, that doesn't address my point. There's $12.5m capex spend planned for this year ($5.5m for shallow well drilling), $27m for 2021, $25m for 2022 etc but zero intended spend allocated to deep drilling. Money they haven't got but hopefully, of course, incoming with success. All their future activities are based on success, so why haven't they included deep drilling?

Looking at the planned capex spend for the next 6 years there is nothing allocated for deep well drilling, despite grand hopes for the 12 large prospects. LK has admitted to preliminary discussions taking place with third parties.

Could it be the case that it has already been decided that any ventures to these depths will not be at CERP's expense?

Echo that. Can't imagine a worse irony in an avatar!

Mike, Schroders is one obstacle, and a huge one at that but in addition we have this damaging contractors payment policy.
Could Columbus not afforded to reduce the communicated cash balance by $300K rather than issue 9.5m shares to add to yet more future blockage in terms of sp advancement? Seems like a one-eyed policy to me.

Don't call it a day Bamps, you're very well respected and most sensible posters have zero time for the Mother Superior types who scathingly post they've been there, done that and you can't tell me anything. Your advice, in the sociable manner delivered, is extremely welcomed by all wishing to broaden their knowledge of not only the potential fortunes of Columbus, but of the oil industry as a whole. Stick with us LTHs., we're nearly there at a breakthrough imo.

Bamps, just a reminder (prob. don't need it) but SPT is of course calculated on the average WTI price taken over a 3 month period. For instance if one month the av price is $49, the next $48 and the last month $54 then SPT would be chargeable on total revenue that quarter as the average exceeds $50pb. (Capex allowances obviously only relevant against tax charge)
I've no idea when a 3 month period starts but could be simply Jan-Mar etc etc.

We must hope that a successful Saffron result, and a rising sp, persuades Schroders to re-consider their holdings target and hopefully refrain from further selling. I hate to think a rise could accelerate their rate of offloads.

There was probably a beneficial side-effect to Schroders coming on board that encouraged retail investors to do likewise.

Why have they sold? Increased risk aversion to an illiquid stock in light of Woodford fiasco, loss of confidence re. the time lines given in the road map, disbelief in 'funded from cash flow' etc., stepping down from day to day running etc.
Guesswork, only they know.

Last year's AGM comment from LK on communication strategy, at 1 hour 12 mins in. Open to question as to how accurate that statement has been to date.

https://www.youtube.com/watch?v=MfvnG_VDS68&t=

Hey Bamps, I'm totally in agreement re. IR, s/holders deserve a lot more consideration than they're getting. They are disenchanting too many LTHs by failing to keep existing as well as potentially new investors abreast with their activities.

I was being perhaps being too charitable re. my comment on 12, make that 13, days since the last Saffron update :-)

By the way, congrats re ITM, looking like a true blue sky stock.

I'm as eager to hear about Saffron developments as the next man but when you consider it's only been 12 working days since the last update I think LK's 'shortly' still applies as a time frame to the next update. Just!

As I said willec, my interpretation, you make your own.

Always a little suspicious of largish orders placed around 4pm onwards............has a RNS been lodged for the following morning release? ............we're OK today, they were buys which bodes well...........but probably my interpretation and casting doubt on peoples' integrity.

Hi Bamps, in the end, without the analysis tools, it comes down to playing Leo's hunch re. LC.. He/we have come this far, spent so much money etc you don't stop at the half way line, you see it through to the end, to a final result come what may.
Typifies AIM market gambles, doesn't it not? GLA.

It's certainly not just Schroders who have been selling in large chunks. Their last notification was late Nov. which showed that they needed to sell 'only' another 6.25m to drop below 12% and trigger a new notification. We've yet to see any such notice in an 8 week period that's been littered with large offloads.

Encouraging feedback, thank you Razorman.