Member Info for rossannan

Nothing yet and not holding my breath, but if they do, as has been suggested, change it into a profit based tax, even if they try and structure it so that, at least initially, the tax take remains the same (this is probably a political necessity), simply making it a more rational tax could be enough to trigger boom times for T&T�s oilers. It would certainly encourage investment.

HH That media was clearly confusing SPT and PPT then - basically only royalty / overriding royalty is allowable for SPT. SPT is out there. It can't be bargained with. It can't be reasoned with. It doesn't feel pity, or remorse, or fear. And it absolutely will not stop, ever.

Hard to know how much of the global IPSC figure to attribute to CERP (HH?) but nothing strange or startling in April, either way: http://www.energy.gov.tt/wp-content/uploads/2018/05/MEEI-Consolidated-Monthly-Bulletins-January-April-2018.pdf

LGO-fan Fair enough!

LGO-fan Because it was show, not tell. I was showing that TA can make whatever case you want it to. Not so easy with fundamental analysis. Can you really use both? Is it not a bit like mixing cross plys and radials?

Alternatively: https://uk.tradingview.com/symbols/LSE-CERP/technicals/

S4LMO To be fair, it�s what the SPFL needs...

S4LMO In talks with Stevie G. about joining his management team...

Vmax No, but if LK’s Spanish plan is neither to get rid nor JV the costs away, he has seriously lost his focus. I don’t think he has though - the cash pile is clearly earmarked for the SWP where LK can, as you say, get the best bang for his buck. I don’t think LGO-fan was trying to suggest otherwise, more just bouncing ideas around.

Hellraiser1 Seriously, do you think LK’s $4million+ cash pile is earmarked to be spent on Spain at some indeterminate point down the line?

LGO-fan I don�t think anyone imagines that it is earmarked for whatever the outcome is in Spain because it is neither clear what that will be nor how long it will take to emerge. Spain is now strictly a sideshow.

LGO-fan Agreed, LK has got a bit carried away more than once, but I suspect that lessons have now been learned. Will be very interesting to see how he chooses to attack the SWP when the time comes. If he does go for one big drill targeting 3 levels (rather than picking off shallower/cheaper targets first to build up production), things will get very exciting very quickly. High risk if he does this without a partner because it will eat up most of the cash buffer but also (very) high reward. As I�ve said before, this will hit 10p if he goes down that route, just on the excitement alone. And he can hardly fail to miss at the shallower levels so he�s pretty much guaranteed to make at least some of the ($3million?) CAPEX back, while if he is successful at the deep level he then has a much better negotiating position with potential partners. 2019 is not going to be dull.

between KA�s rhetoric and the financial realities, IMO. Also an increasing sense of slippage. This is now June 2018, after all. Just look back even one year to where posters on this BB and even KA himself were suggesting that PHE would be at this point.

LGO-fan A good definition of an accretive issue of shares might be one which leads not only to an increase in the number of shares but also to an increase in the share price. The Schroders placing was accretive in that sense, if only for a while. It remains though a very positive event because it put paid to any residual worries about heavily discounted bucket shop placings and has clearly put a very solid floor in at around the 5p mark. If CERP didn’t have its significant c. $4million cash buffer, largely attributable to the Schroders placing, the current share price would be closer to 2p than 5p, IMO. What’s not to like?

HH But the current position, as per the RNS of 9 April, is: �The Company plans to undertake further analysis of the good quality 3D seismic and other data on the SWP, with the first well potentially being drilled, subject to satisfactory technical analysis, in the first half of 2019.� I will send a Question to the team asking whether this is envisaged to be a deep well targeting multiple levels or a shallower well.

LGO-fan Assuming, as you suggest, that this first, proof of concept, well is paid for entirely out of CERP’s existing funds.

LGO-fan Arguably worth the risk. If LK picks his best 3-level SWP prospect and goes for it, I could see this hitting 10p before the results are in - that is just the nature of the beast.

SWP offers shallow and deep opportunities - shallow wells CERP can do itself. It can maybe even do one deep well itself, though that’s a higher risk strategy.

LGO-fan Exactly, what LK is doing with non-drilling interventions is really quite something and the financial stability that this �bang for your buck� approach has brought CERP provides a solid platform for his foray into the SWP next year.

Rugby2015 �I think some people�s estimate of 800-900 bopd end of year production will prove to be very low.� 800-900 bopd EOY might be the low case target but it would be a solid achievement for non-drilling interventions and cost conscious WF. At the moment production is very much on the low case trajectory and you are almost conceding yourself that Q2 isn�t going to change that. So what is suddenly going to boost it onto the high case trajectory during H2, particularly when there has already been an initial hiccup with WF?