Member Info for Rugby2015

WTI has gone through $61.50, not sure the exact date but the last time it was this high is around 5 months ago. Still volatile but the upward trend continues and if the US and China can get their trade deal over the line it should push it even higher. Q1 results announced soon, timing is good!

LGO fan - it’s hard to see why the SP is so low reading your last text. I assume us believers have as many shares as we can afford, even at these low prices and other investors are waiting for confirmation of further production progress and drilling plans before committing. With the newly enlarged group I expect it has been a very busy Q1 on many fronts and before Ross asks me what I am expecting I will answer by saying in about a weeks time we will all find out. Patience is a virtue, good luck to all fellow shareholders!

Irene - I am not scrolling through all your posts and if I have stated something that you believe untrue and have taken offence to then I am happy to apologise. I find your posts very negative and as such depressing and In the main I ignore them. I have offered you the opportunity to post negatively in advance of the next announcement with hopefully some evidence or justification. The offer or challenge is there, now It’s entirely up to you.

Ross - I am not communicating backwards and forwads with you but what I will say is the cash balance figure is not the whole story. For example, the cash balance might be only $1 million but there might have been a large payment made towards drilling the SWP. All things been equal you say $2.2 and I wil say $3 million.

Irene - where do you predict the SP to be at close of play on the day Q1 results are announced? I don’t want to start a BB - guess the SP - but you seem very good at predicting ‘with hindsight’ (I mean who isn’t) so how about giving us all benefit of your experience? I will respond and do the same. No bet involved, I can’t even say it will be fun but you will get brownie points if you add any reasoning to your prediction.

Mr Magoo - LK back in an interview Jan/Feb committed to spudding by 1st July. Whilst this is the first day of H2 it is a bit deceiving to say H2 as that could mean any date up to 31st Dec. when clearly it was his intention at the time to drill 6 months earlier. We will have to wait for the Q2 update in around 2 weeks time when more details of the drilling schedule may or nnay not be published.

Ross - ‘ the latest I have seen from LK is H2’ - that’s because you don’t listen to his video interviews where he committed to drilling (I can’t remember the wording and can’t be bothered to check it for you) but it was something like by the start of H2 and that’s why I posted by July 1st. If nearer the time the drilling date moves to mid July or Aug 1st, that’s fine by me, we have waited a long time for this so a few weeks here and there makes no difference, I am sure nobody is keener to start drilling than LK himself. No - I won’t be betting with you on anything and if a placing does take place before drilling, which I acknowledge is a possibility but a really unlikely one, then that will be because it’s the best option and not the first one. To reiterate, I feel a placing is very unlikely and believe the company has many other options including their own resources which they have stated many times.

Has TXP gave a definite spud date, I doubt they have 3 months in advance but do tell
Me if I am wrong. LK has committed to start drilling by July, it’s only March Ross, what more do you want - for what it’s worth when they do start to drill I think they’ll start drilling in the morning!
In4Cedros, great effort continuing to respond to certain posters, I choose to laugh and ignore their ridiculous claims, like placing in Nov then in Dec, if LK doesn’t take up the Lind facility we’re all doomed, etc etc. The 3 monthly updates take a bit of getting used to but anything requiring a RNS before then will obviously get one and when we get the update it’s very comprehensive and followed up by interviews and meetings. I’ve said it before, you either believe in the Company or you don’t, if your a LTH here then your probably very happy with the progress LK has made (less than 2 years) and happy with the strategy he clearly outlined from Day 1 and tweaks it where necessary as conditions change. Many deals have been done to date to progress the SWP, M & A has already happened with promise of more, waterflood has been going for many months now, Bonasse and Icacos amongst others are receiving the capital spend they need to progress them further. The SP is frustrating but the company is in better shape than when the SP reached its high in autumn 2017. The man said 2019 is the year we have been waiting for so as it’s not even Mid March yet let’s give him time to deliver. GLA!

The ?? at the end of my last post was an iPhone typo, should have been !!. Just reread my post and it’s not meant to be downbeat just thinking the initial posts claiming revenue in year 1 of $7 and $8 million are too high but happy if somebody else can confirm. Of course, there are the gas sales to calculate too. Hopefully today’s positive RNS is the first of many! Good luck to all holders!

Mr Beaky - what 3000 barrels per day from the other wells? All 8 wells are contributing to the current production of 4053 Bopd. This is a good RNS in my opinion but I think your yearly revenue is too high. Whilst it’s encouraging they are expecting the production rate to increase as the size of the choke increases the weeks will not maintain these flow rates for long before they start depleting. Data from the 1st 2 wells will help to calculate this but I don’t have this at hand. I think $4 million for year 1 is a conservative ‘guess’ but hopefully those with my knowledge and the figures at hand can give a more detailed and accurate estimate shortly. Onward and upwards ??

Good post Offerman, I agree giving dates is not practical so far in advance. LK said in one of his most recent video interviews that they would start drilling at the end of H1, he said he was happy to commit to that so it’s not as vague as Q1, Q2 or Q3. He also said it was funded yet a handful of people keep repeating negativity about a possible placing, or a partnership on unfavourable terms etc - there is absolutely no evidence to support this at all, just scare mongering! Do you think the II’s and big holders are flapping about ‘funding for the SWP? No, I don’t believe they are and neither should we. LK said it was going to be a great year, what we have been waiting for and there was no caveat of ‘ but only if we find some funding to drill the SWP because I haven’t got a clue where that’s coming from’ - that notion is just laughable. He will have plenty of options and will probably not have to make his mind up right now so therefore there is no news to release. Don’t forget the BOD’s are taking half their salary in shares - they are neither mugs nor gamblers and just because we don’t know what they are doing doesn’t mean to say they don’t. If the SP drops to 2.3p so what? Unless you need to sell it doesn’t really matter. All IMO but we are a producing oil company and have come a long way in the last 12 months and will go much further in the next 12 months.

Over K350 shares traded in the first 90 mins. Not a massive amount but higher than normal and a 9% rise in SP. Hopefully we can build on this with many exciting updates potentially to come on all our projects as well as the production numbers from the 8 wells due very soon. Confirmation in an RNS of True’s drilling plans would certainly give the SP a lift up too. We’ve waited a long time but a series of positive news releases which increase the number of revenue streams would IMO have a very positive affect on the SP.

Joebop, you obviously consider yourself very well researched so I have a sincere question for you. Historically, all you do with your glib andcarrogant comments (besides insult other posters) is talk the company down and point out the negatives so my question is ' why are you invested here or aren't you?'
With reference the rugby I think both sides will have a tough match today and whilst Ireland are rightly promoted as favourites I think the 3/1about England earlier in the week was a touch generous. I think it will be a close match, may the best team on the day win.

In4cedros - thanks for the explanation and thanks for putting me right so quickly. Ross you were right so I apologise to you and anybody else I unknowingly misinformed. Whilst the detail was wrong, which I have freely admitted, the overall message that the focus in respect of production should be which fields that production has come from and not solely on the headline figure is still on point. The headline figure Q1 of gross revenue from sales and the total volume of sales are very telling too. Schroders putting pressure on LK to perform? Give us all a break, they are in for the long term plan and the current daily SP will be of minimal interest to them. BigMJ has recently said he meets regular with LK and he still has his full support so no pressure there either. The current SP gives the 'doom merchants' some traction but if the SP had ot slipped recently but increased slowly to say 4p then I doubt if anybody would listen to them. Of course none of us are happen with the current SP but believe most have faith in the good ship Columbus and the course it is sailing. Just wish the negative people would jump overboard!

Ross - instead of just saying ‘sorry that is just wrong’ would you like to explain to myself and others why it is wrong. I did not travel through the RNS’s or other official news but there again I did not purposely mislead either. The fields that are not under IPSC licence are not sold at WTI and are not subject to one of the taxes. If you are saying it does pay SPT then can you explain to us all what the exact deal is. I’m not lazy but I was happy what I read at the time and the company stated that it makes nearly as twice as much money on some of the other fields than Goydton. That is why they will focus their resources on the other fields rather than maybe Goudron. When they say they are going to get the best bang for their buck as far as increasing production, thus is what they mean. If there is anything in this post that you believe is factually wrong do tell us all. I rarely communicate with you directly as I believe you have your own agenda for your constant negativity but I am been honest and open here by saying I don’t have all the relevant facts at my fingertips but I do believe what I pusted to be correct. You say I am wrong and so I can accept that if you publish the correct information for all to see. If you don’t, I’ll go and take another look at it myself when I have the time to do so. Anybody else care to put us both right if you have access to the relevant information. Cheers and ‘Come on England’!

Someone mentioned the POO is in the ‘dreaded $50-$60’ bracket. It is true that in this range the company pays SPT tax and if it were to remain in this range it would be preferable for the POO (WTI) to be $ 49.95. I would like to make 3 points and the first is $55 (where we are now), is much preferable to the low $40’s where we were several weeks ago and secondly the higher we climb in this range the sooner we break that $61 ceiling and start adding net value to the company. The third and the most important point is the SPT tax is only paid on oil recovered under the IPSC licence, Goudron and Trinity Innis (off top of my head and I think 1 other). It is the other 3 fields LK was referring to in the last update when he said, words to the affect of, average production in Q1 will be around this level but focus will be on increasing production in the more profitable fields. Bearing in mind production in fields outside of the IPSC licence is nearly twice as profitable as those within it, I feel there should be less of a fixation of Q1 average production and more of a focus of which fields have producing it. With this in mind it is my opinion the financials (gross revenue from oil sales) will be much higher than some people are predicting and ‘cashburn’ is going to be non existent and that is why LK mentioned he believed the company would be cash positive across the whole group. There is far too much ‘fretting’ by certain posters about where the funding for the SWP is coming from when many times over the company has stated funding for initial drilling will come from its own resources (or words to that affect). Maybe the sale of TI is a done deal, maybe the connectivity already shown in the waterflood operation is expected to or has started to increase production in Goudron. There are many variables, (POO is just one) and opportunities that the BOD are aware of - just let them get on with their job and deliver. GOod luck to all fellow holders for a very profitable year.

‘ But if in doubt, expect a placing!’ Haha that made me laugh first thing this morning. Very scientific! Ross, nobody else is fretting about a placing, it’s just you! I don’t think LK underestimates how capital intensive this line of work is because he is the boss and it’s his business to know so let’s just leave this with him. I don’t expect no rampathons as I don’t expect and headline ‘funding news’ as I said before let’s wait and see.

Garnhiem - as of 31 Dec 2018 debt outstanding $400K and monthly payments are $27k (near as dammit). Debt is reducing by $80k oer quarter.

rxdav - LK does not like debt. He looked at paying off the original Lind facility but it was too complicated. That tells me he had the money to do so and despite some hysterical posting, he did not require the Lind facility either. LK is shareholder as are all the BOD as they are still taking half their monthly salary in shares. Do you think they are mad? A suggestion that shareholder value is not a high priority is just ridiculous. His main priority is building Columbus Energy into a large and successful company and I am glad that his focus is on that and not the SP in the short term. Most LTH’s know where we have come from and can see where we are going and are happy with that. If not, they would sell wouldn’t they? Simply put you either believe in the Columbus story or you don’t. IMO there will be no placing like there was no need to use the Lind facility. Funding for the SWP has been answered on the company website many times and before the doom mongers ask again my answer is ‘wait and see’! How strange it is how some people who are not invested are far more concerned about the funding than those who are! What does that tell you?

On my last post at the bottom ‘investors??. was a typo!