Member Info for rossannan

LGO-fan

“5. There is no direct link between SP and the company building its foundations.”

Yes there is when, as you acknowledge, those foundations are built on placings. Each placing sees the pot of gold which each LTH has at the end of the rainbow shrink a little more. The turning point will come when the market can picture CERP as being able to fund itself without further dilution or at least with genuinely accretive dilution. I cannot for the life of me understand why in this market LK is not taking full advantage of the LIND Facility and is determined to let it slip through his fingers. It is only potentially dilutive and would be a perfect buffer against the current headwinds, buying time for investments that he has made to pay off and possibly even providing the necessary funding for his initial foray into the shallower end of the SWP.

LGO-fan

Agreed, just being careful to set achievable targets and then achieving them can work wonders on AIM.

offerman

You have a good one too. May your update be better than I expect.

I’m on here to say what I think about CERP, nothing more, nothing less. What I think about CERP is that it is perennially hyped (I offer this BB as evidence - ASOS - really?) and that it is currently (with no clarity on how the SWP is going to be funded - not by the LIND Facility, it appears) overvalued.

goupplease

bigmj’s average price is probably significantly south of here, so he should do well over the longer term. I’m just looking for clues at the scene of the crime, but, particularly with WTI where it is at the moment, how is the sp not going to head south from here before it eventually heads north again?

Not expecting an answer, but you never know:

“With WTI hovering near $50, are going to reverse your decision not to drawdown on the LIND facility? Taking full advantage of this facility before it expires would reassure shareholders and the market about the Company’s funding position going into what could be a significant but capital intensive year. Allowing the facility to expire and subsequently funding 2019 CAPEX with the issue of yet more shares would be a disappointment.”

MrMagoo31

Maybe, but sub-3p first, IMO.

petersalkeld

1000bopd is fairly unlikely in the shallower end of the SWP and it is the shallower end of the SWP that CERP is confined to for the moment.

capitalidea

Trying to focus on marginal costs and profit is a capital idea! There’s not enough of that on here.

JR710

Do you agree? Tosh? Or the elephant in the room?

JR710

Fair comment, and fair play to LK - he went through the motions but appeared to have Spain’s number from day one.

petersalkeld

No encouragement necessary.

IK

If possible - once the funding for the initial foray into the SWP is in place it could rise in anticipation of that first well, even though we are talking about the shallower end of the SWP. Barge pole until there is transparency on funding though.

IK

I sold at just over 6.6p, having bought not long after LK started at just under 2.7p.

karlci

Almost zero energy required - it’s the same basic argument every time - follow the money, feel the cash burn and don’t go “ooh shiny!” over everything that LK says in his “medias”. DYOR, as you say, but my take on this is that if you really feel that you must buy in, don’t pay 3.4p now when you will likely be able to pay less than 3p soon.

*HH can elaborate.

karlci

We do though - at least 75% of the total, possibly slightly more now, is likely to be CERP. HH has done the research on this and will confirm. The big drop earlier in the year was a special situation involving an IPSC that was terminated for bad behaviour. Again, HH has elaborate.

Directly relevant new information and either most folk haven’t noticed or are not interested. I get that it is annoying when reality impinges on the story here, but still...

http://www.energy.gov.tt/wp-content/uploads/2018/12/MEEI-Consolidated-Monthly-Bulletins-January-October-2018.pdf

IPSC figure up exactly 10bopd so nothing significant happened at Goudron or Innis Trinity in October. I would suggest that the chances are that nothing significant happened in November either, so caveat emptor. All will become a lot clearer very soon now.

How much progress will this month’s update reveal when it comes to:

Bonasse
Icacos
Innis Trinity
South Erin
Snowcap/Cory Moruga?

Clearly nothing significant enough to justify its own RNS has occurred, so I would invite folk to manage their expectations. As I said, in this industry things are almost always more capital intensive and take longer than investors expect.