Member Info for willec

I assume there are recommended then? How realistic are they normally? If so we should realise CERP at 7p per share, it that right?

becuase of the big institutions and not for the oil production. Hope to see a nice reate to FV of 7p, happy days. BPC going up next week would like to see us do the same finally. Wed did see a bit of blue yesterday afternoon. More to come next week.

All I want is a steady rise is sp over time finding oil like we have already with more drilling this year. Why not grow the businesss steadily and she why it takes us. More fields to drill before merger in my eyes.

I have heard over at BPC people are thinking 10p pre spud as everyone are looking for more involvement. If that is the case we may get increased buying also to alligned. 10p for them means 8p for us. We are so so undervalued at 2p per share when already produce oil. I expected 3p + next week here.

Maybe he could see the potential of a merger with BPC more from nearer the beginning and could see more potential in the company as a MERGED entity - who knows?

baraboy123, I do to, unless he saw a personal better offer before retiring to spent more time with family. He has 28 years in the oil industry, who nows his personal plans. But with 28 years of experience I can not see that. Why would he spent 3 years to change the company to throw it away now where CERP are actually producing oil now.

LGO-gan, how do YOU see this panning out for CERP shareholders, bearing in mind we have produced oil already with Saffron 2 in the next few weeks. When the oil price increase we should see rise in sp, plus I can see BPC taing off next week as up 17% yesterday and during the last hour thinks began to hot up and wee recovered very nicely by the end of the session. I would like to think BPC 5p and CERP 2.5 - 3p by next weekend. People generally seem happy apart from on the BB of course.

baraboy123, this is part of the good thing about conversation like this, it begins to weed out all the sad idiots who think they now more and forget they have missed the beginning of reception class at school.

Question is why would LK find discover of oil at SWP and days later set about running when S2 is looking nothing by very good. Makes no sense unless the deal gave sometime to CERP. This bulliten board is a joke. Does anyone else now what they are talking about here?

what are we look at? The company or BB

CERP are producing oil, aren't they : YES
They have funds for next 6 months : YES
Trying to expand acerage : YES
Got S2 very soon, possible before merger : YES

Had to cut bac due to CV19, like everyone.

What is not to like

Just see what happened yesterday up 17% on a Friday afternoon. Next week will be big - why does this board always have negative ffeeling with it?

If the desl goes ahead know the sp for cerp is 2.32 - 2.48p but I think next week will be big as BPC are very excited towards end of yesterday and buys are coming and coming. If the company hit 6p which is very possible next week that makes us:

4.8p which I will not be complaining with

We were down 2% yesterday, BPC up 17% and I can see them rise more next week as good deal for them. If the go up to 10p, for example which is possible as they have a spud coming + merger. That will mean will re rate to 8.3p. Lots of upside here. At the end of play yesterday BPC were buying buying buying - we are going to rerate very soon.

Some advice ignore IreneKrapp we all do on the CERP board

Thankyou red381. Feeling a lot better know. so sp is 2.32 - 2.48 at the moment if the merger happened today as an example

Starchild the proble her is most people feel robbed as most of use brought in last year and the year before with sp around 5p. Now being tod we are getting a maximum 2.64p per share or big risk in the BPC drill.

How can you see a positive outcome for CERP shareholder. We are producing oil but no sign to a good sp reaction and then LK leaving. CERP sh are very worried.

I know I have mentioned this several times but could BPC rise in sp be beneficial to shareholders over here.

Yesterday they rose 17% ish and we were basically flat. I feel this share should have moved forward.

I think next week could see BCP rally even more yet we are restricted to trade

a premium of 11 per cent. to the Columbus closing price of 2.40 pence = 2.64p

This is not good for most share holders. Is it possible to trade at 3p or 4p before the merger or are we restrict to max. of 2.64p until the merger. Loos like we are robbed.

Starchild - how would you llink your post with my of 09:48hrs. Leo Koot said:

'I am therefore confident that we will be able to produce commercial quantities of quality oil from both the Lower Cruse and the Middle Cruse.

In the coming months, we intend to finish our testing campaign and work with our partner to drill Saffron 2. Alongside this, we will continue to produce from the Middle Cruse and progress a Middle Cruse appraisal and development campaign when the timing is right given market conditions.

I am really excited with our results to date with the Saffron well and I would encourage you to read the corporate and operational update and watch the accompanying video.'

If this was true I can't see finance been an issue as commerical oil in now in storage if you belive what he says. It makes me think does BPC need the money and LK wants out. Any views!!!!

Starchild - how would you llink your post with my of 09:48hrs. Leo Koot said:

'I am therefore confident that we will be able to produce commercial quantities of quality oil from both the Lower Cruse and the Middle Cruse.

In the coming months, we intend to finish our testing campaign and work with our partner to drill Saffron 2. Alongside this, we will continue to produce from the Middle Cruse and progress a Middle Cruse appraisal and development campaign when the timing is right given market conditions.

I am really excited with our results to date with the Saffron well and I would encourage you to read the corporate and operational update and watch the accompanying video.'

If this was true I can't see finance been an issue as commerical oil in now in storage if you belive what he says. It makes me think does BPC need the money and LK wants out. Any views!!!!

Why was this ignored by the market?

Mon, 27th Apr 2020 07:00
RNS Number : 8833K

Leo Koot, Executive Chairman of Columbus, commented:

"We have found what we were looking for - the Saffron well has discovered oil in both the Lower Cruse and Middle Cruse formations in the South West Peninsula, onshore Trinidad. These discoveries are transformational for Columbus creating two valuable standalone field developments.

Our main pre-drill goal of establishing the existence of hydrocarbons in the Lower Cruse has been achieved, significantly de-risking what we expect will be an imminent Saffron field development. We achieved light, high quality oil flow to surface (circa 40° API) from two test intervals in the Lower Cruse. For operational reasons (including prudent cost management), our testing was deliberately limited to a combined perforation of 16' even though the logging of the Lower Cruse showed over 300 feet of high-quality sands. As such, we believe that the appraisal of the Lower Cruse, expected in Q3 2020, will be stage 1 of a Lower Cruse development that we now calculate has an NPV of circa US$90m.

I am particularly pleased to share with our investors and the market that, in order to fast track the appraisal/development of the Lower Cruse, we have signed a Term Sheet with a third party drilling contractor to drill a second well in the Lower Cruse, the same contractor who drilled the Saffron well. It is expected that the well will be drilled in Q3 2020, subject to a stabilised oil price (above US$35 for a sustained period) and operating environment. The well will be fully funded by that third party in return for a share of the production from Saffron 2.

Whilst drilling the Saffron well, the Company encountered a total of 6 intervals in the Lower Cruse, Middle Cruse and Upper Cruse that merited testing and, to date, we have tested 3 intervals (2 in the Lower Cruse and 1 in the Middle Cruse).

In the Middle Cruse, we discovered medium quality crude (17° to 20° API) with a high water cut (circa 90%-95%). The Middle Cruse reservoir shows good pressure support, with the right completion design and field development plan, we can deliver a reliable oil and revenue stream from the multiple oil-bearing intervals we have identified. We have already sold our first oil produced from the Middle Cruse to Heritage (340 bbls).

I am therefore confident that we will be able to produce commercial quantities of quality oil from both the Lower Cruse and the Middle Cruse.

In the coming months, we intend to finish our testing campaign and work with our partner to drill Saffron 2. Alongside this, we will continue to produce from the Middle Cruse and progress a Middle Cruse appraisal and development campaign when the timing is right given market conditions.

I am really excited with our results to date with the Saffron well and I would encourage you to read the corporate and operational update and watch the accompanying video.

Th