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Today 22:05Price: 3.95
Chesh11,404 posts
RE: Ross

"A nugget of goal, along our route" :)

the map hasn't changed, Ross's investment in the company has..........!

All the best (clear to see.....!)
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Today 21:53Price: 3.95
Garnhiem.1,037 posts
RE: Ross

So what’s different in the road map? I think everyone knew there would be “deals” along the way to accelerate the SWP development timescale as indicated on the road map.

Posting figures without identifying where the money has been invested, means nothing with your cash burn claim.

Still claiming not to have watched the media’s I see?

Still haven't Answered my original question.
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Today 21:42Price: 3.95
rossannan5,321 posts
RE: Ross

Garnhiem.

Presumably you would accept that the last 3 quarters have seen CERP’s cash pile go from $5.4 million to $4.1 million to $2.4 million.
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Today 21:40Price: 3.95
rossannan5,321 posts
RE: Ross

Garnhiem.

I am trying to figure out the trajectory based on the historical data rather than the possibilities outlined by LK, bearing in mind the fate of the original road map. Would you be happy to see CERP down to $1 million in the bank at the end of Q3 or do you think that something will emerge in Q3 that will stop the cash burn in its tracks? If you do, what is it?
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Today 21:25Price: 3.95
steward1686 posts
RE: Ross

All guesswork, Ross. You don't know the current capex and you don't know the current bopd.

Come one now, tell us why you post the same guesswork so incessantly.
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Today 21:24Price: 3.95
Chesh11,404 posts
RE: Ross

From the CERP website,

"Prior to TAQA, Mr Koot was CEO of Energy Development Partners an oil and gas business creating ways to match capital and resources with developing production, for which he helped raise a US$350 million private equity fund. Mr Koot has a Master in Petroleum Engineering and a business degree from Harvard Business School."

I think we're in save hands, anyone...........?

All the best (Ross's GCSE in hand calcs may trump him :)
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Today 21:00Price: 3.95
Garnhiem.1,037 posts
RE: Ross

You are rambling jiberish again!!

Is it because you don’t understand what’s going on because I can’t understand any of your concerns that have only appeared from your own opinion, all of which is while claiming that you are not invested. So if it’s nothing to do about entry price, what is it?
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Today 20:56Price: 3.95
johnjunior100 posts
re ross

rossannan <br /><br />Having read your assessment of CERP`s current situation i find myself agreeing with you on the grounds that everything you outline in the previous post is more or less factual .I reduced my holding soon after the Steeldrum announcement from 318000 to 150000.and have not yet regretted it.I don`t expect to increase them until we get a significant upturn in production without any dilution or using the so called insurance provided by LIND. <br />It must be difficult posting when so many people dislike you undermining their dreams.......I am realistic about CERP as SWP may (or may not) deliver the big oil but i`m not betting the farm on it just yet as now I only have about 2% of my portfolio on this share .
Weak Buy
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Today 20:30Price: 3.95
rossannan5,321 posts
RE: Ross

Garnhiem.

It’s not about an entry price. CERP does not look anything like as attractive to me as it did three months ago, as you can see from my posts back then compared to my posts now, but even if it still looked attractive I am not kidding myself that anything posted on this BB has any significant traction on the share price. It’s about trying to spot what is really going on and predict where the share price is going, at least in the short term (I predicted sub-4p and was correct). Medium/long term is a lot harder.

The problem is that CERP is in an incredibly CAPEX-intensive business and, while LK still has a lot going for him, he cannot conjure capital out of thin air.

LK did have a credible plan that he offered in good faith, the initial phase of which was based on Gourdon doing enough to at least conserve (if not add to) CERP’s Schroders-derived cash pile, allowing him to do accretive (though “accretive” is a hugely misunderstood word) deals and make CERP’s initial foray into the SWP from a position of financial strength.

Despite LK’s original due diligence and many months in situ before he even produced the now discredited high case/low case production graph, the initial phase of his plan has now stalled. The RNS not that long ago that talked about “cash burn” was one of a series of red flags that led up to the revelation that the last 3 quarters have seen CERP’s cash pile go from $5.4 million to $4.1 million to $2.4 million. That put the tin lid on it for me. It is now clear that LK has not mastered Gourdon - Goudron has mastered him. Steeldrum may turn out to be LK’s way of telling us just how little to expect from Goudron WF.

The last nine months have seen WTI climb from the late $50s and settle in the mid $60s, yet in 2018 at least half of CERP’s cash pile has gone. Steeldrum’s cash and debt may or may not feature in the Q3 figures, but if they don’t, what will be left in the bank at the end of Q3? $1 million? This is why I would argue that it was disingenuous for LK to describe the LIND facility as a form of insurance policy.
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Today 19:46Price: 3.95
steward1686 posts
RE: Ross

I agree, Garnheim - Ross is really insecure and just doesn't know what to do. He wants to invest... badly!

He seems convinced though that he knows better than LK, suggesting that it is LK who is speculating! That says it all - he's convinced himself that all his guesswork trumps LK's knowledge of the facts.
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