Member Info for Razorman

Big tubby Malcy -
CERP has always said that the SW Peninsula was the place he wanted to be and so it seems after their Saffron well has come in big time with oil discoveries in both the Lower and Middle Cruse. They have 2363 ft of gross sands with six reserve intervals of interest with a 47% net/gross ratio, three of which have been tested to date.

In the Lower Cruse 40° API light oil was recovered to surface in line with management’s expectations of 11.5 mmbbl and the Middle Cruse found medium quality crude of 17-20° API and have already sold 340 barrels. The company have cut a deal with a third party drilling contractor, their existing partners, for a full carry on the second appraisal well to Be drilled all being well in the 3rd quarter of this year. This is a very exciting result for Columbus and vindication for a lot of very hard work by Leo Koot and his team, worth taking a look at the presentation and video interview on the RNS and website.

It’s the lower cruise which is the big result for me

now we sit back and watch the oil price recovery over the summer as COVID19 is brought under control, US Shale aggressively declines and Opec+ cut production.

this will take a while but it is significantly de-risked now !!

middle cruise 500bpd !!! with at least 2 other intervals available !!! and dont forget the LOWER cruise as well!!!!!

Amazing - better than I dared to expect !!!

Watch the video 13:26 - oil flying!!!!!!!

Our main pre-drill goal of establishing the existence of hydrocarbons in the Lower Cruse has been achieved, significantly de-risking what we expect will be an imminent Saffron field development. We achieved light, high quality oil flow to surface (circa 40° API) from two test intervals in the Lower Cruse. For operational reasons (including prudent cost management), our testing was deliberately limited to a combined perforation of 16' even though the logging of the Lower Cruse showed over 300 feet of high-quality sands. As such, we believe that the appraisal of the Lower Cruse, expected in Q3 2020, will be stage 1 of a Lower Cruse development that we now calculate has an NPV of circa US$90m.

"We have found what we were looking for - the Saffron well has discovered oil in both the Lower Cruse and Middle Cruse formations in the South West Peninsula, onshore Trinidad. These discoveries are transformational for Columbus creating two valuable standalone field developments.

No need for that LGO. Everyone has a right to express their beliefs. Good, bad, indifferent - you have the right to filter if you do not find value in what people say. It’s been a difficult 3 months and people are dealing with that in different ways. Most of us have a united desire for good news tomorrow but taking pop shots at each other isn’t going to help anyone. Let’s all patiently wait another 11hours and see... good luck everyone, god knows we deserve some

https://www.google.co.uk/amp/s/www.houstonchronicle.com/business/energy/amp/The-great-Texas-oil-shut-in-has-begun-15224199.php

Just another point - wells that are shut in can take months to get back to normal production, that’s if they get there at all. US shale is shutting down.

Tomorrow we can all make a judgement on how the £13m market cap compares to their, hopefully, enhanced assets.

Anyone else think that POO might materially rebound by June/July? CERP have already battened down the hatches to conserve cash and survive in this period.

ConocoPhillips and shale producer Continental Resources have all announced plans to shut in output.

Regulators in Oklahoma voted to allow oil drillers to shut wells without losing leases; New Mexico made a similar decision.

North Dakota, which for years was synonymous with the US shale revolution, is witnessing a rapid retrenchment. Oil producers have already closed more than 6,000 wells, curtailing about 405,000 barrels a day in production, or about 30 per cent of the state's total.

The output cuts won't be limited to the US. From Chad, a poor and landlocked country in Africa, to Vietnam and Brazil, producers are now either reducing output or making plans to do so.

"I wouldn't want to get sensational about it but yes, clearly there must be a risk of shut-ins," Mr Mitch Flegg, the head of North Sea oil company Serica Energy, said in an interview. "In certain parts of the world it is a real and present risk."

us shale rig count declines by 76 in the week. That’s huge

I think a bit optimistic but you never know. The most insidious intentions were those who went to the effort to set up the sweepstake and then put themselves down for zero - it’s like investor self flagellation ?!!

We should re post the sweepstake - 500bpd was my call

Would imagine it’s odds on for further declines in tomorrow’s rig count. One to watch out for.

You have tomorrow to get yourself on board Irene !

“Logging results for the Middle Cruse have been interpreted and the Company believes that it confirms the Middle Cruse is a valid secondary target... The Company expects to be able to produce from the Middle Cruse at commercial rates.“ 13 Feb