Member Info for rossannan

LGO-fan There is always that option - https://mydonate.bt.com/fundraisers/rossannan - I�m now 40% of the way towards my target and would appreciate your support. Or you could just use the BB for its intended purpose - sharing your thoughts about CERP - rather than making personal comments about other posters.

petersalkeld What is it about my broadly positive take on CERP that you have a problem with? Let me know and we can discuss it.

LGO-fan Icacos is a surprisingly large acreage, even though it hasn�t been producing that much. Beginning to wonder whether LK will ever need to look outside T&T to achieve his goals.

Forgot it was today!

In your 19/03/18 RNS on the renegotiation of the BOLT transaction, you mentioned the following steps: a. Payment of up to US$450,000 to BOLT, upon the transfer of the Existing Lease to Columbus (including the rights to the Bonasse field) and the transfer of associated agreements for oil & gas operations on the SWP; b. Columbus making a payment to Petrotrin of approximately US$80,000 to complete the purchase of a 27.5% interest in the Bonasse field; c. Columbus relinquishing its 25% shareholding in BOLT; d. BOLT relinquishing all rights under the Existing Lease; e. Columbus acquiring access to all oil and gas rights on the SWP. Have all of these steps now been completed and, if not, which remain outstanding as at today�s date (10/05/18)?

Rugby2015 That�s a good way of looking at it. The whole point of the Goudron �money wheel� is that it preserves CERP�s cash pile, which is mainly derived from Schroders, and over time, as WF kicks in, should increasingly add to it. All of which is why LK was able to give a �no placings� guarantee. Sound financial management.

offerman In the meantime though CERP has other priorities. Let�s stick to the road map.

HH Ta - missed that. I had assumed that the renegotiated deal had to actually complete before that could happen. Maybe it has already completed and CERP didn�t feel the need to RNS it.

Garnhiem 2019 could be a very good year indeed and completing that quite elegantly structured transaction so that the Bonasse reactivations can begin this quarter as planned would, as I suggest, set the scene nicely.

LGO-fan Presumably though, none of that�s going to happen until the BOLT transaction completes. That completion RNS will be one to look out for. LK may take that opportunity to talk about his plans not just for Bonasse but the SWP (and thereby put CERP back on the radar).

offerman Certainly has long term potential, both in terms of development and (assuming that, as you suggest, CERP acquires the deep rights) exploration. Not really much happening in the shorter term though, just gradually cranking up production via non-drilling interventions and waterflood to keep the cash flowing in the right direction. The next big thing is �the big deal� and/or the SWP.

�I'm more than happy to follow LK's business plan, steady progress, increasing BOPD with solid foundations........the Share Price will follow all in good time :)� Says it all. We can adjourn to the pub now. J99MES�s round. BTW J99MES, be afraid. Be very afraid. My man Curtis is going to rain on your parade.

LGO-fan Options: 1. Don�t reply 2. Don�t reply and filter 3. https://mydonate.bt.com/fundraisers/rossannan Before you do any of that though, I would be interested to hear what it is that I�m saying that you have such a problem with. I�m just calling it as I see it as someone with no position and no axe to grind. Seriously. If you actually read my posts you will see that they are broadly positive. I understand and like what LK is trying to do here.

LLL Why foolish? People understand that they are two different things, but they are still connected. In the world of CERP there�s not a lot happening elsewhere than Goudron (yet). In this Q2 WTI has continued upwards while for some time G&A has been in much better shape than it was in the bad old days and even Spain is no longer the money drain that it was. So if CERP isn�t actually profitable at Group level it�s certainly on that trajectory and will, of course, be debt free in the not too distant future. Most importantly, there does not appear to be any evidence of significant cash burn. But if you still don�t rate CERP, why don�t you tell us about an oiler that you do rate?

PinWiz I didn�t say that Goudron doesn�t matter, what I said was that Goudron production is a red herring. What really matters about Goudron is that a money pit has become a money wheel. That is really quite an achievement with only low cost interventions and no drilling. Actual production figures are not really the point, not this year anyway when it seems clear enough that Group production is unlikely to reach even 1000bopd by EOY (unless production is bought in or WF really surprises on the upside).

emilyt16 Are you saying that in the whole universe of oilers you have to go as far up the food chain as BP to find anything of comparable quality to CERP. Really? Take a step back and consider whether you�re saying that does not in fact illustrate my point about there being something about CERP that encourages folk to go more than overweight.

�It does not matter what other companies are doing if you are invested in CERP. Only what CERP are doing matters!!!� This makes we wonder how many on here have got too many eggs in this basket. There seems to be something about CERP that encourages folk to go more than just overweight, just as there was with LGO. Tried that with LGO, really didn�t work out, promised myself I wouldn�t do it again and so far spreading it about a little more is working out. CERP is certainly a far, far better proposition than LGO ever was, but still. Obviously there is a distinction to be made between investing too much of your capital in one share in the first place and finding yourself with too much of your capital invested in one share as a result of exponential share price growth. I would imagine that even though bigmj has a large amount of capital invested here by anyone�s standards, it is still only a sensible proportion of his total capital. That approach is presumably how he became, and remains, bigmj. I realise that this all sounds a bit like LLL. Maybe not surprising, given that we are the same person, but that doesn�t make it wrong.

petersalkeld Good effort.

goupplease You need to work on your material.

Lancygeo It’s maybe just as well that the MCAP and short term SP don’t concern you because if folk keep focusing on and overestimating Goudron production, which is the mistake made again and again and again on here, the market just sees a series of disappointments rather than a growth story. You also need to understand that CF+ is not at this stage (or indeed even as CERP goes into 2019) going to pay for much, if anything, in the SWP - all it is doing is preserving the existing cash pile (Schroders’ money, basically). Which is still a solid achievement. Listen to what LK is telling you, don’t make up your own road map.