Member Info for rossannan

“Don't complain at a higher SP that should have bought more at 3.28p do it now and reap the rewards”

Or wait for clarity on funding. Just a thought.

Bamps21

Historically production has almost always been oversestimated on here, even under LK. If folk could learn to better manage their expectations they would have a smoother ride. It’s not helped by some of the things that LK says when he is in share promotion mode, which folk then think they can take to the bank. In this industry things are almost always more capital intensive and take longer than investors expect.

That’s a shame, I was about to reply to a post by LLL but it has now disappeared. Anyway, the point that I was going to make was that a distinction needs to be made between the shallower end of the SWP and the deeper high-risk, high-impact targets - shallow and deep (and what they respectively offer) are often confused on here. CERP is starting in the shallow end and nothing transformational is going to happen there. That doesn’t mean that significant progress can’t be made in the shallow end - these are well known formations and CERP must have a decent chance of identifying a viable field. That production could eventually fund deeper exploration. My point is about the likely absence of adequate funding for the initial foray into the shallower end of the SWP if LK is not prepared to deploy the LIND facility.

IreneKrapp

Many may feel that it’s too late to sell. Not quite the same thing. I would argue that it isn’t too late to sell because I can see this going sub-3p. I can’t see it going sub-2p though, so deft timing would be required to take advantage of the final drop. The turning point will come when the market can see that LK has adequate funding in place for CERP’s initial foray into the shallower end of the SWP. The turning point doesn’t have to be sub-3p but if LK is serious about letting the LIND facility expire unused (see the Q&A on the CERP website), it is hard to see how he can avoid a sub-3p placing that will take the share price down there too.

LTID

No-one is forcing anyone to do anything. Arguably, what is keeping CERP above 3p in this market is mainly retail conviction. Let’s see how that responds to the next update.

LGO-fan

“With the right newsflow” even RRL would see 15-20p in 2019!

neon

Careful now...

https://gph.is/1cXfUVX

If skeptical posts about CERP were responded to with counter-arguments about CERP, we might all learn something. For a change, show me why I’m wrong about cash burn rather than resorting to personal comments...

Too much chat about “trolls”, not enough chat about CERP. That’s the problem with this BB.

mossma

Any folk who think that their BB posts or anyone else’s have traction on the share price are just wrong. As I have said, this is currently a barge pole stock for me and will still be when it is sub-3p. LK’s intention to let the LIND facility expire and current WTI are huge red flags. I would argue that it is only retail conviction that is keeping it above 3p and that it is not too late to break ranks and sell, whether or not your name is on the list.

Looks like even your views were too balanced to survive the censors.

What the BB police do not realise is that they can have every skeptical post deleted but this will not make a blind bit of difference. If LK is resolved to let the LIND facility expire, sub-3p is nailed on here.

Someone has to counter all the end of the rainbow nonsense about the SWP. The SWP will cost money that CERP currently doesn’t look as if it’s going to have when the time comes. And that is just the money needed to play in the shallower end of the SWP. Any transformative potential of the SWP is at a depth CERP definitely cannot afford at this stage, a distinction almost never made on here. There are both qualitative and quantitative differences between those kinds of 10,000 feet plus wells and their shallower counterparts.

Anyway, I will say it again and no doubt it will be deleted again. If LK really is serious about letting the LIND facility expire, he is a poor custodian of shareholder value.

*seems to intend to let the LIND facility expire unused.

philipy

Visibility on funding would do it, or as least provide the springboard for it. Cannot understand why LK seems to let the LIND facility expire unused.

Irene

That is a little cynical. BigMJ seems to have significant investments in a number of companies and, as far as I am aware, has no ulterior motive and has always played with an entirely straight bat. For example, he doesn’t throw his weight about on here (and even resists the temptation to bait us “trolls”)!

Razorman

As I have explained before, I am just poking gentle fun at some of the weird conspiracy theories on here about skeptical posters.

neon

Everyone is free to post or not as they see fit. Just filter me if you don’t like my skeptical take on CERP. As my colleague LLL has pointed out there too much focus on here on “jam tomorrow” items, where the outcomes are unknown and the prognosis is therefore always bullish. Here and now issues like cash burn are just not being faced up to (including by LK if he means what he says about the LIND facility). Someone has to point all this out.

neon

It has hardly started.

Bamps21

Bamps21

No, what I said was that if that has been the effect of me and my colleagues’ posts, we have arguably done the investors in question a favour - just look at the chart.

Saying that, if any potential new investors or existing holders are looking in, I would still argue that it’s not too late to hold off from buying (for new investors) or sell (for existing holders) pending a better entry point or more information, but it’s up to each individual to do their own research, consider their own circumstances and look at both sides of the argument - although on here the other side of the argument seems as ever mainly to be personal comments!

Bamps21

Not all Questions to the Team are answered. Important ones like these, for example, remain unanswered:

With WTI now just over $50, is Columbus still “operationally cashflow positive”?

“In your 10th October RNS you confirmed an end Q3 2018 cash balance of US$1.97 million (end Q2 2018: US$2.35 million). What would that end Q3 cash balance have been with Steeldrum’s cash stripped out?”

By the way, if LK really does intend to let the LIND facility expire in a few weeks, he is making a big mistake that shareholders are going to pay for.

ShinFalls

I doubt that the floor is 3p any more than it was 4p or 5p. As my colleague Irene has suggested, CERP’s retail fan base is without doubt a major part of the current support mechanism, buying into all the “M&A soonish” chatter and some significant exaggeration (often by themselves) of what the SWP has (at least in the short term) to offer, while all the time ignoring the cash burn issue and its implications. I suspect that sub-3p is pretty much nailed on once that retail fan base are forced to confront that particular issue, unless LK uses the LIND facility before it expires (something he has suggested that he will not be doing). I have no doubt though that eventually your patience will be rewarded, even if not spectacularly - LK is certainly not NR - at some point all the stars, including the oil price, will align for him.