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Columbus Energy Resources

Termination of coverage

Termination | Oil & Gas | 10 Sep 2018

Edison Investment Research is terminating coverage on Columbus Energy Resources (CERP). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.

Columbus Energy Resources

Management and strategy changes

QuickView | Oil & Gas | 02 Aug 2017

Columbus Energy Resources (CERP) has a new name, new management and new strategy. Leo Koot, an experienced and well respected CEO, has joined the company to reassess and revitalise the assets in Trinidad, bringing in new personnel. Management overheads have already been cut and a programme of in-fill wells has been put on hold. Instead, a series of low-cost interventions should increase production in the short term, moving the company towards a virtuous cash flow circle; we should see the results of the initial work programme in Q417. Any cash flow can be recycled into further development and potentially fund a material exploration programme, which could be game changing (SWP holds an estimated 1.3bnbbls OIP across a number of targets).