Member Info for Razorman

I asked a few. I say next to the old gent who questioned the accounting typo

It was worth attending. Something important slipped out but it was an error. I won’t say what it was but I will say recent research posted on here has been on point

Just left...

AGM Video to be circulated shortly

2 swp wells 66 and 45% cos respectively. Independently advised by EPI - plus lots of otter bits - sounded excellent

All this... It’s killing me... Can we all please keep a lid on it until someone has something interesting to say?

5m

90 tender period has expired. That was the reason for the Q1 update delay. CERP are now in exclusive discussions with the government to enter into the concession. Announcement due soon on that. Hopefully it’s a no brainier but we will have to see the terms first.

94,472 at 2.65p !

My first PRD 79,159 at 7.545p so don't pay much attention to the advertised spread. I learnt about these through their Trinidad partnership with CERP - I have a large holding in CERP and will likely move funds between the two over the next few years.

What app is it?

The difference there IK is 3.5p was discounted from The current SP (if I remember right). Gelco was at a premium. But it could be configured a number of ways to look compelling to outsiders - so probably best ignored.

I guess without knowing the fee arrangement this could have been configured a number of ways to appear as bullish. being cynical.

From the Q1 update Gelco agreed to be paid 50% at 4.3p which represented a 1.4p premium to the 1 Jan SP. Anyone has anyway of explaining this, other than the obvious that they see a strong upside and have bought into LK’s plan? Why would they agree to a premium?? Razor Effective as of 1 January 2019, the Company entered into a new agreement with Gelco Energy Consultants ("Gelco") to provide Managing Director services for Columbus's Trinidad operations. Gelco will receive 50% of its payment in Company shares for the first twelve months of the term, calculated at a share price of 4.3 pence per share.

Cerp are about to start rolling the dice in the oil casino. But they are doing that within their limits, as opposed to using borrowed funds. I don’t think any investor would want it to drag out. I don’t think it will, let’s see what the technicals are in the pre drill rns.

IK. They would be foolish to say anything less. It gives them up to 5 attempts and two years to find the oil. Provides the wiggle room and I think (hope) that is were we will find the underpromise overdeliver part. After speaking to the business I was left confident that the CoS has been underplayed and the opportunity they are closing in on will be very compelling. If they find the oil in he Middle Cruse where they expect to the oil reserves are ratified and everything changes.

Pick and drill one of the 12+ shallow and deep prospects ranging in size from 20mmbbl up to 400mmbbl. Test the middle cruse. If oil is hit in line with the range above then they will farm out the SWP. First drill has multiple stacked targets and has been recommended by EPI, not CERP.

21.4p (slight correction). This I believe is VSA’s assessment based on a 10% cos in SWP. Which according to the board is very modest. South West Peninsula Operations in the South West Peninsula (SWP) have progressed with detailed technical studies providing information to conduct an exploratory drilling programme in the region and a well site has been identified for Q3 2019. The SWP has identified over 12 shallow and deep prospects ranging in size from 20mmbbl up to 400mmbbl with the potential for stacked vertical targets. The drilling programme will be funded from available resources and is intended to commence in Q3 2019, subject to receiving Government approvals. We previously highlighted the beneficial rig access arising from the Steeldrum acquisition which is partly why the well cost can be funded from existing cash resources. The first well will test the Middle Cruse, covered by existing environmental permits and technical consultants are supporting management with finalising preparations for the initial hole and ongoing campaign. We highlight that whilst the IPSC at Goudron has hampered recent performance, one of this management teams initial successes was to renegotiate the relevant contracts enabling more attractive returns arising from exploration success.

Progress M&A opportunities sufficiently to enable Columbus to announce the establishment of a footprint in another South American country in 1H 2019 and which will enable the Company to grow production and commercial returns within that country within a short (1-2 year) timescale. Any opportunities should be complementary to existing assets and fundable from existing resources or new funds which are not dilutive for current shareholders.

Just re watched the October 18 webcast investor presentation from the website. The M&A deal noted in the Q1 update to move into South America seems to be the ‘maroon’ deal alluded to. Leo also points to the north coast of SA. I think it has to be Guyana, Suriname or French Guiana (as an outside bet). It’s interesting to look back at this presentation knowing what we do now. Leo was already talking about not chasing production for production sake but targeting profitable barrels. He pledges to hit a peak of 1k bopd by end 2018 - tick. He then says that he expects that peak production to become the average in Q1 - *cringe* massive flop! Q2 production will be interesting but I fear what’s hampering production will not clear easily. More details and transparency in the next update please Leo and Gordon!!!!