Member Info for rossannan

IK

I don’t know.

LGO-fan

Really? In fact I have been trying to concentrate on ADVFN for a while now as I don’t have enough time to do both properly at the moment and although I am banned from the main ADVFN thread and have everyone on the one I that do post on filtered, I just wait for any post by EggChaser, one of the local rampers and then fire one of my own off. To save time it is all basically recycled stuff but if I can even make one potential newbie or one LTH pause for thought it is well worth the effort. If CERP had a less forgiving shareholder base it might be a better company.

faz7475

I think the problem is that too many people on this BB, even though they really should know better by now, still think that this is like opening a series of safes and that you will eventually open one with loads of money in it that is pure profit for the Company which almost overnight will drive its MCAP to £/$500M, even if this only happens on day 364 of the 5th year of King Leo’s reign. LK’s £/$500M MCAP chat was hugely irresponsible and a lot of PIs are holding on in here because of it, to their detriment.

MrMagoo31

The detail tells us that Goudron is a money pit that has swallowed CERP’s cash cushion, leaving CERP with greatly watered down plans for the SWP. It seems as if you listened to LK’s original plan and then decided to ignore any evidence that it wasn’t working out. Presumably you haven’t dared to read an RNS since 2017.

LLL

‘Twas ever thus. Perhaps Suriname (if that is where the new concession is - it seems to fit the bill) will become the new SWP. In due course the local rampers will be looking for the new Suriname!

Whatever happened to Goudron Waterflood?

Whatever happened to Snowcap?

LK now has a really quite substantial “Whatever happened to...?” file.

For example, whatever happened to that ER-105 compartment well?

Good to see a victory for shareholder militancy. Last year’s defeated AGM Resolution 5 attempted to disapply pre-emption rights up to an aggregate nominal amount of £97,381, but this year’s AGM Resolution 5 disapplies it only up to an aggregate nominal amount of £41,544. Goes to show that it can be worth giving LK’s cage a proper rattle. Maybe even £41,544 will be too much for some though. Time will tell.

Not sure anyone really cares anymore. It’s all gone a bit half-hearted.

MrMagoo31

Have you ever thought what your posts might look like if, instead of talking about “golden tickets” and £/$500M MCAPs and calling people names, you actually talked about what might realistically happen here? Go on, give it a try. I dare you.

MrMagoo31

Used to be around 80p. Some day there may be so many shares in issue that it is 2.5p...

MrMagoo31

At the end of the day, no-one is just going to give value away to a company like CERP, whatever rosy South American scenarios folk try to paint. The best deals are reserved for the companies that have taken better care of their balance sheets.

HH

Indeed, but thus far negative speculation has tended to pay off, being based on the emerging theme of LK consistently failing to live up to his own publicity...

HH

Is that not just wishful thinking?

11/1 to 11/4 certainly squares with the three month tender process referred to in the mid-April RNS:

“Company is in exclusive discussions for award of a concession in a South American country, after a successful three-month tender process. Potential for low-cost entry into a discovered onshore oilfield with a detailed work programme for 2019-2021 submitted as part of the Company's bid. Announcement of new concession forecast for late Q2/early Q3 2019.”

Goodness knows how the MWOs are going to be financed though...

MrMagoo31

“Leo Koot has done nothing wrong yet”

You cannot be serious!

LGO-fan

The only oil in the SWP that would potentially be of interest to a major is, if it is there at all, at a depth to which CERP cannot, for the foreseeable future, afford to drill. If CERP tried to offload the SWP tomorrow, how much would it get for it? Not very much at all. CERP needs to sink money into the SWP to add value to it and, as we can see from the way in which LK has reined in his ambitions there, CERP is short of money.

LGO-fan

He is not going to prove anything up very quickly on the back of his first modest foray into the SWP and then only revisiting it once every six months.

MrMagoo31

What if the evidence suggests that it is unwise to believe in him? Is forcing yourself to believe in him in the face of all the evidence not just an exercise in wishful thinking?