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Besides the constant negative posters we are all aware of I feel others are bad mouthing LK and the company becasue the SP has disappointed today and not soley on the content of the RNS. if the SP was now 5p would those posters view the RNS differently and would their coments be the same? We are all entitled to our opinion and entitled to voice it too, thats partly what the board is all about. We are all investors (nearly all) but our expectations will differ as will our investing and exit strategy. I am sure LK will give another impresiive presentation aimed at informing investors (and not at 'selling the company' as someone has inferred) because he's building the company up, not selling it - well not yet anyway! Before too much negativity is voiced it might be best to wait a few more hours and hear his presentation.

Looks like a Win Win

Unless there was some late action todays volume is showing zero buys and 59k sells. I don’t keep records but this volume must be near an all time low. Those of us invested must have as many shares as we can afford and those just looking are obviously waiting for substantial news before getting on board. News cannot be far away, I would guess another 4 weeks at the most but hopefully much sooner. Hopefully on it’s release we will then be full of praise for RP and the BOD and will fully understand that there had to be a news blackout whilst these negotiations took place. While we just wait it’s very frustrating but I think the wait will be worth it and news could come thick and fast over the next 3 months. I’m staying!

1. WTI up 16% since August
2. Bonasse - a rig has been on there since July and LK will update on 10th
3. Steeldrum - once completed some quick, cheap production gains have been identified
4. Water flood pilot injections are going well
5. Rabbit out of the hat? Nobody knew about Steeldrum acquisition until it happened and I’m sure it will be the same for the next one. The company have said they are actively looking at other M&A I Trinidad and South America. LK wants to do a big deal ($100million) before the year end. It’s an ambition and not a guarantee but with just under 3 months to go don’t rule it out. I would expect they have investors lined up ready to go when the right opportunity comes along
6. EOY production to exceed 1000 bopd. I’m taking this as a given. LK was frustrated last year when his EOY target was just met. He will want to get back to the ‘under promise over deliver’ mantra
All IMHO, the current buy price 4.05p is nearly 20% below Schroeder’s 5p buy in and I feel this bargain will be gone for good shortly.

CaptainSwag - good post even though my opinion differs to yours.

I don’t think the SP has done well to hold because who would sell at this level with the presentation next week, but until solid news is announced the big buyers appear to be staying away. The price of our product is rising as is production but more infornstion is needed to see where we are now and to predict with a bit more accuracy where we are going to be EOY and beyond

What has LK got under his sleeve? Well he has said he wants to do a big deal before year end and he did remark just because it’s positioned towards the end of the year the deal could come at anytime. Nobody knew about the Steeldrum acquisition before it was announced and they have said they are actively looking at further M&A both at Trinidad and abroad

When you read through the RNS’s from this year and see the progress made in acquiring the leases/operational control at Icacos and in the SWP and the acquisition of Steeldrum, the rising oil price and rising production which will become clearer on the 10th October it’s hard to work out why the SP is 20% lower than the 5p that Schroeder’s paid last autumn. Of course, we all hope and and expect a big move on from here by the year end and even after the 10th October if not before, surely this is the last opportunity to get shares/more shares in Columbus at the 4.10p mark. There is lots of positive news in the H1 statement, not so much in looking back but in looking forward to H2. For the first time in many years the average monthly POO should breach $70, not guaranteed of course and it’s early days but it’s a very good start.

Currently $74.60 coupled with rising production puts the company in a good place and more to look forward to as well

I think it’s previously been stated that due to the SPT it makes little difference when the POO is between $50-$60, anything over $60, and higher the better, then it is financially beneficial to the company. As production increases every dollar more in the POO adds more significance.

Faz7475 - unfortunately I am out of the UK on the 10th Oct or else I would be there. There will be another time and with the share price hopefully much higher we can afford to enjoy the experience even more . Looking forward to everyone’s feedback which will hopefully be reporting that firm foundations are now in place, any ongoing infrastructure problems continue to be addressed in a timely manner and with the long term in mind, production challenges continue to be matched with innovative solutions and the Steeldrum acquisition has been smoothly and successfully completed. Many other interesting questions asked by those present will no doubt be met by LK by a very informative response. Have a great night!

Faz7475 - as you’ll agree everyone is entitled to their opinion and that’s all it is - an opinion as none of us really know. On production, for example, I am quite bullish and think LK will easily exceed his 1000 bopd target. I don’t need to justify it and I’ll respect other people’s opinions too without necessarily agreeing with them. I think Ross had 700 bopd as his EOY target earlier in the year so by agreeing with Offermans 850-950 even he is finding it hard to acknowledge production is rising. 850-950 or 1000+ , not a wide margin of difference is there. I’m thinking on his presentation on the 10th October he will share his thoughts over the next 3 months on likely production numbers and that will give all those who want to see it - a clearer picture! Yes we all want to see short term gains and a higher SP to reflect the companies huge potential going forward. In LK I believe we have a man who will realise that potential and if he has to steer the good ship Columbus’ through choppy water or even stormy waters to get there then that’s the way it is. I am not jumping ship en route and intend to enjoy myself when we finally get safely to port.The last 12 months has been disappointing SP wise but it’s easy to see a much higher SP in 12 months time- personally I don’t think we’ll have to wait anywhere near that long for a proper rerate to begin. All IMO - good luck to all invrstrd!

Haha - quote if the year Faz ‘ correct me if I’ m wrong Ross, I think 1000 bopd are coming from the ground’. I find ignoring his negativity is best but that made me laugh! Reading the most recent Q & A gives you a feel for the immediate growth opportunities and it doesn’t really matter which fields the oil comes from bearing in mind oil lifted from some of the fields in SWP is worth nearly double that from Goudron. I remain very positive in LK and his team in implementing on the strategy that they have clearly laid out which includes further M & A as well drilling in the SWP which is under a year away. Exciting times ahead

LGO fan, like you, I don’t think it’s hard to see where 1000
Bopd by year end wil come from, I do expect actually expect more! Except for the obvious few people it should not be hard to see Goudron at 700, Bonasse at 100 and the 250 bopd from Steeldrum. There are another 3 months to go with LK citing ‘low hanging fruit’ and ‘quick wins’ to be gained in production once the acquisition goes through. Let’s wait and see but I think the presentation on the 10th will be an opportunity for him to elaborate more on his plans for the next quarter. LK has said they are hoping for the acquisition to be concluded in the early part of Q4 - before the 10th October would be handy!

Emily I agree with you and felt the pain myself when I sold out of LGO in Jan 2017 at a 95% loss. That’s history so whilst I agree I was thinking more along the lines of the SP around 2p around August 2017 and 2 months later it touched 8p. The only disappointing thing was it ran out of gas and has been stumbling around the 4-5p range since then. I like to think of it as consolidation😊 you only have to read the RNS in 2018 to see the progress the company has made and now I feel very soon the SP will reflect at least some of this progress.

We have waited for a rerate for some time but IMO it will
only happen when the numbers, the outlook and therefore the sentiment are bright. We may not have long to wait. Production is rising but we will have to wait and see how high that is and WTI is volatile but right now it’s riding high and the short term outlook from the experts seems to think it will remain that way. IMO Steeldrum will prove to be a profitable asset and Goudron was always a cash cow and not transformational on its own. Goudron might not develop and increase production as much as we thought but that will be because it is more profitable to develop elsewhere so who can argue with that. A SP of 4p is disappointing especially when we hit 8p last October but when the rerate comes IMO we won’t retreat back to these low figures ever again. Looking forward to Xmas already and drilling in SWP later next year.

Not long to go now until the end of the month - next RNS Monday? Ross will tell us the cashburn figure whilst we’ll see investment and progress at Bonasse amongst others. This quarters focus will be the merging of the Steeldrum acquisition but Loki g forward to early results from new pump, update of the water pilot injection and the current bopd which might just be given as a quarter average. His RNS’s are few but when they do arrive are very informative. With another 3 months to go I still think end of year production will be more than 1000 bopd

It’s hard to say with the price of oil rising so fast! Email the company if your that interested, I’m happy that any expenditure that isn’t justified is being cut, I Would call that being prudent, LK refers to it as getting the best bang for every buck!

On a general note I would be disappointed if the company had more cash in the bank than it had a year ago. It’s about 18 months ago now that the company looked dead and buried, losing money, diluting to stay alive, no prospects and I’d lost hope and sold out near an all time low. Everyone, well almost everyone, has bought into LK’s strategy and his plans for exoansion to take this little company and build it into a strong and profitable one. We appreciate it takes time, we know the foundations have to be strong before the real build can take place and the ‘dodgy’ ground the company was previously on has been flattened and firmed. We are building and expanding and this costs money so building a bank balance now is not a priority. A placing has been firmly ruled out many times and the Lind facility instead of been something to dread in my eyes is a bonus, it removes uncertainty as we know where money is coming from IF it is required. IMO it’s a nice to have and my optimism is not going to be dimmed if this facility is accessed as I feel it will mean they are accelerating their expansion plans and continue to get the biggest bang for every buck and not a sign it is running out of cash.

Lack of news is frustrating for all concerned but I have faith in RP and the board and choose to believe they are working hard behind the scenes,negotiating the best deals possible and progressing all our projects but believe WD is the current focus. As mentioned before I feel sure they will get a much better deal on WD than they did on ED as they have proved themselves for one thing and in WD they own 100% of the leases (which excited RP so much) I hope and expect good news by end of October but we could be surprised any day now. How about tomorrow?

The SP was around this price about 12 months ago and then touched 8p in October but look at the progress that the company has made since then. The deals that have been made regarding SWP whickn make the foundations stronger, sometimes you need to take a step back and consolidate (Icacos) before taking 2 steps forward. The bopd have increased and the acquisition of Steeldrum is going through. I feel there will be plenty of good news with real progress made in the next update. Where we are now is important but seeing future growth and potential is important too and that does not mean it’s just ‘jam tomorrow’ I am looking forward to the next update on the water injection pilot schemes and unlike some posters I believe real progress has already been made on current production. Let’s wait and see, but I was happy to buy more recently at around 4.2p.

‘375 bopd net to Highlands’ - are there any reductions or tax on this. What would our selling price be in relation to the daily WTI price? 375 x $70 gives a daily revenue of $26,250 or monthly revenue of $787,500 or an annual revenue of over $9.1 million based on 350 days of production but I don’t know how realistic 350 days is? Even so, by the end of this year you can see that little old Highlands has a significant revenue coming in on project East Denver alone. RP would not say DTU was near tipping point if it wasn’t, The Nitrogen find has cone out of nowhere, the company owns 100% of the leases in WD and whilst Helium is stil rated a high risk project the recent jump in Helium prices raises the potential upside of this project. The company has always had potential but is now very much derisked and when the SO gets to 25p and 30p it will be for a good reason and I won’t be going anyway. If that’s your target and you choose to sell I wish you good luck but with revenue highlighted above the company can make serious progress in any or all of its other projects. Another 12 months and I believe we’ll be looking at a totally different comiany and I want to be still in to reap the rewards. Testing time but GLA