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LTID - Judging by volume of chat on here I think most people have already moved. Agree trolls would be out there depth on BPC chat. “Eaten for breakfast” comes to mind. Mayt....
Why don't the Trolls move over to the BPC board if all they want to do is disrupt the SP as the Cerp price won't matter shortly or do they think they would be out of their depth on there.
Edited for clarity:
Rationale for Offer and the Offer Price
•Offer premeditated by uncertainty created by the proposed Columbus & Bahamas merger and change of control consents required for FRAM
•Opportunity arose for third-party funding from an indigenous Trinidadian company to underwrite the cash consideration offered
•Local party has access to new opportunities suitable for CO2 EOR & is mainly focussed on increasing conventional oil production using their rigs & well services –complements the Predator business model
Predator CO2 EOR Business Model
•We seek only to be a specialist CO2 EOR services company in a profit-sharing arrangement
•Our business model not based on being a licence holder & assuming regulatory burdens & existing licence obligations
•Focussed on profitability from enhanced oil production with low administrative overheads & low capital outlaysFair Offer Price closer to true Market Value without CO2 EOR
•Investment to date in pilot CO2 EOR project in Inniss-Trinity taken into account in arriving at the Offer Price
•Organic CO2 EOR business with ownership of specialist equipment, engineering design, subsurface understanding, environmental template for operations & exclusivity over Trinidad’s surplus liquid CO2 supply –premium value puts Predator in the driving seat
•Inniss-Trinity Incremental Production Services Contract was extended by FRAM (the IPSC operator) on the basis of Predator’s CO2 EOR third party services and investment –replaced a 7 well infill-drilling obligation for FRAM which translates into a material gain for FRAM by removing a balance sheet liability & is reflected in the Offer Price –no Predator CO2 EOR means the FRAM IPSC work obligation cannot be fulfilled
Rationale for Offer and the Offer Price•Offer premeditated by uncertainty created by the proposed Columbus & Bahamas merger and change of control consents required for FRAM
•Opportunity arose for third-party funding from an indigenous Trinidadian company to underwrite the cash consideration offered
•Local party has access to new opportunities suitable for CO2 EOR & is mainly focussed on increasing conventional oil production using their rigs & well services –complements the Predator business modelPredator CO2 EOR Business Model•We seek only to be a specialist CO2 EOR services company in a profit-sharing arrangement
•Our business model not based on being a licence holder & assuming regulatory burdens & existing licence obligations
•Focussed on profitability from enhanced oil production with low administrative overheads & low capital outlaysFair Offer Price closer to true Market Value without CO2 EOR•Investment to date in pilot CO2 EOR project in Inniss-Trinity taken into account in arriving at the Offer Price
•Organic CO2 EOR business with ownership of specialist equipment, engineering design, subsurface understanding, environmental template for operations & exclusivity over Trinidad’s surplus liquid CO2 supply –premium value puts Predator in the driving seat
•Inniss-Trinity Incremental Production Services Contract was extended by FRAM (the IPSC operator) on the basis of Predator’s CO2 EOR third party services and investment –replaced a 7 well infill-drilling obligation for FRAM which translates into a material gain for FRAM by removing a balance sheet liability & is reflected in the Offer Price –no Predator CO2 EOR means the FRAM IPSC work obligation cannot be fulfilled
Thanks for posting Tilburns links on here as that is what I like to read. A great reminder to why I now hold in excess of 1.6million shares in total over both cerp and bpc. Obviously that will drop slightly on merger. But will be worth more in terms of value. Happy days
Never requested a stalker but if she dishes it out incorrectly, then she will be corrected. However as it cloggs up the board that was my parting gift of advice to her. I will NOT be replying to any of her posts from now on, however I won't filter her as her posts are so very hilarious.
I note that the Perseverance Rover is about to lift of for Mars - could this be an omen for the BPC exploration well Perseverance #1 - and maybe IK can somehow show this in an extremely negative light somehow?
Tiburn: Your BPC BB post and links yesterday were excellent and a reminder of Persv-1's potential. I have copied the key points below the xxxxx so I can easily find your post again. I suggest in parallel we all listen to Leo's June LSE presentation again. https://www.youtube.com/watch?v=1LoJi9l-k4w Between 3.50 and 5.50 he appears very excited at the potential with words such as 'massive, multiple structures', 'reservoir traps all over the place', 'feels like Safron (11mboe) but with 700mboe.
Starchild
xxxx Tiburn's original post summary below xxxxx
https://www.bpcplc.com/wp-content/uploads/2019/09/BPC-Oil-Barrel-Sept-2019-vFin-stick-website-sml.pdf
Slide 6 - fold B north structure cross section, each green oil reservoir target marked, over ten are shown. Multiple targets with our one drill.
https://wiki.aapg.org/Risk:_expected_value_and_chance_of_success
“The four geological chance factors are defined so as to include the concept of the practical lower limit, that is, a modicum of porosity, permeability, and thickness of reservoir rock; a closure sufficient to contain an accumulation large enough to sustain a production test (or even a prudent drill stem test); and a hydrocarbon charge and sealing capability sufficient for at least 50% hydrogen saturation.” Chance of success calcs are very conservative - for example, if each aspect was 90% chance: Trap geometry 90%, Reservoir 90%, Seal 90%, Charge 90%, It would still only get a CoS of 65% in total. Change just one parameter to 50% then the overall CoS reduces to 36%, similar to what Perseverance #1 has best case.
We have a great chance here overall of hitting one of these reservoirs, also the overall structure has an impermeable mudstone drape covering it, also text from slide 12 is key.."lower prospect risk - more complete top seal cover"
at how you tied yourself up in knots just within your last post alone do you not read it and go oh **** cannot find the charts or straight lines that I originally said oh **** it that was another poster. You sound a bit all over the place. zak mir chart and 30p straight line oh no well maybe no zak mir charts no straight 30p line but fck it this other post makes reference to Zak Mir hardly at all but will do .....muhhhhaha. If you are going to quote try and do so correctly which is difficult when you are outa your tiny mind more often than not imo. See if in your next post you can Either:A) Score another blinding own goal. B) shoot yourself in each foot. C) Dig yourself well on the way to Aussi land. or D) all of the above. My guess is it will be D) and that was an easy decision.
Firstly you said I had posted a zak mir chart and straight line 30p blah blah blah inaccurate then you try to twist and and say but you made reference to. Firstly if you had said that in original post then yes. However I would have just disagreed with your 30p straight line so infact instead of admitting you were in fact wrong and confused me with another poster you go to plan b then c and then d. No apology expected as you have no class what so ever and as bully says eat humble pie for getting it so wrong Irene. Do not try to twist it my 7 year old niece has you sussed and wonders if you have a background in Media as the Media twist things, Naughty Naughty. Well and truely caught out. What chance have you really when you cannot even assimilate you own messages that you post with incorrect facts only to add a different slant on it later the original" if you keep posting 5p next week and a Zak Mir charts with a straight line to 30 p" Everyone can now whatch as you try and squirm out of it sorry still waiting for my post with Zak Mir chart/s and 30p straight line. No you cannot find it as I did not post it and realise how simple and stupid and inadequate you look to all other posters. Oh well you still make me belly laugh as I have to repeat it but each post just further highlights your ability to Dig a BIG hole which we would all like you to keep digging with the hope you may eventually disappear. I think you scored a fabulous own goal there Irene. Still laughing and my nieces sides will be aching when she reads your latest diatribe. How many times can you shoot yourself in the foot. Fecking Hilarious. I believe your auto biography could be a children's best selling story book.
I have never posted any Zak mir charts so mis information at it's best but happy when you find the chart I posted then I will eat humble pie but have never attached a Zak Mir chart so like most of your posts very inaccurate. Keep searching Irene..... oh **** you were wrong Rhodi has not posted any Zak Mir charts. You are Hilarious.Losing the plot so resort to mis truths naughty naughty. She loves her uncle as he is witty,intelligent, generous and humorous. All your opposites I know you have an allergy to these qualities. well so far no correct assumptions from you in any shape or form so once again outa your tiny mind. Delusional springs to mind when I think of you. I keep making real money while you collect peanuts from your paymasters. Your posts continue to confirm and further highlight your shortcomings and adds further proof to all that posters think of you. Keep posting but try and use a trowel instead of several shovels as you will dig yourself into a hole less quickly. IMO you at least add a comical twist to the board with your constant diatribe.
Jeb: I thank you for your respectful and honesty post. Initially I thought you were a paid de-ramper. I am sorry you are underwater with your CERP shares, perhaps you will regain some of your losses over the next few months as BPC heads to spud and we get positive news-flow on CERP/BPC assets. Good luck, and hope all works out for you and your family. Perhaps as granddads one day we can have a zimmer race!
Starchild
xxx
"and I’m sure many would".............. gooner..........:)
with the greatest respect, age related, 98% voted for the merger.........!
All the best (and good luck :)
Starchild, with respect , I think your post says a lot about you! I am a shareholder and am to far underwater to sell so will hope there is some value in this merger so that I can move on! My point is LK for me has thrown in the towel for a massive gamble instead of getting on with running the company however hard that has become! I for one would have carried on supporting him and I’m sure many would. He seemed in a different League when he took charge but now willing to step back and let others get on with it. Will P1 ever get drilled??? Not so sure!
By the way Grandad I’m probably older than you! :)
amazed at how your mind works Irene.......... :()
A totally new concept fosho....... :)
All the best (worth testing .............? ;)
oh I swear (what he means)
Oh come on Irene.
Between now and the Persv-1 spud result, news-flow will very likely positively affect the SP. 25% from CERP’s assets news and 75% BPC’s.
Expected news-flow
1. Legacy licensing issues resolved with Bahamas Government
2. Bahamas Government has accepted the Covid-19 pandemic constitutes a Force Majeure event and latest drilling date extended from 31/12/2020 until [at least] ??/??/2021]
3. Bahamas Government has accept the few Environmental Approval issues outstanding and has fully signed off the spud for Perseverance-1.
4. Merger pre-reqs: Heritage Petroleum Company Limited and Staatsolie Suriname consent to the merger without exercising certain rights or objecting. [Refer to appendix 1 of merger prospectus RNS 11/6/20]
5. Funding updates, funding updates, funding updates.
6. Expert opinions from Proactive, Shore Capital and others on SP / Market-cap potential leading to spud, and if spud successful.
7. Insurance taken for the Spud.
8. The Stena drill ship will leave port on dd/mm/yy. Stena have committed to stating the date sometime between 1/9-31/10.
9. IreneK and Bully convert form the dark side, buy BPC shares and join us, the children of goodness and light. As an act of penance when we meet in the Bahamas for the mega party, all their drinks will be served DILUTED.
Possible news-flow
10. Institutional investor(s) commitment. (Gneiss Energy advisors to BPC made £500k on 27/7/20 from the deal. They have many institutional connections. See https://gneiss.energy/about/ )
11. Joint Venture signed with Stena for BPC and CERP exploration. This can happen anytime after 1 September. 5 WEEKS AWAY.
12. Major Oil company may want to join the party in a farm-in. Must pay to play with a substantial contribution to c$100m spent so far.
13. BPC plans to merge with, or acquire, little explorer(s)/producers in distress, using funds from points 10-12.
CERP related news flow (points 21-24, courtesy of LGO-fan 8/7/20)
20. Possible deal done with Predator (PRD) for up to $4m.
21. New Contract for Goudron with far better terms, allowing for more profitable BOPDs
22. Test results from S1 (MC), and turning this into a producer
23. Start drilling S2 ASAP
24. Successful CO2-project
Bottom line: BPC STRONG BUY at 2.5p, based on (a) [NOW] potential SP upside leading to spud 6-10p (b) [6 MONTHS] lots of oil found 20-40p (c) [15 MONTHS] lots of oil and quality proven £1+. (d) [2021/22] takeover by a major. (All IMHO. DYOR)
Starchild
xxx
You mean using the "Filters" tab to get rid of the dark side.
then you say you are still on the bulletin board and remain here because you are allergic to rampers.Really HOW THICK ARE YOU. Most intelligent people that have an allergy to something avoid it. So that is what you should be doing so find a board of de rampers where you can grow and strike up some friendships or alternatively go and look under bridges and find a like minded troll and you can live happily ever after. Keep posting as it highlights your deficiencies and my 7 year old neice finds your posts hilarius. I think she thinks you have been in the sun too long.
This will be interesting cou be a lot higher than we think maybe 4 - 5p even
Irene I now predicts 0p but she is just a sad troll.
IreneKrapp will not make or lose money here as she has no shares - TROLL
It is lovely having her on ignore I would recommend this to everyone on the board 'IGNORE IRENEKRAPP'
Haha.... explains the full-time job on AIM.
To be honest even Tesla still has plenty of rampers.... and that valuation is insane. So yea your operating within the lower leagues at the moment without any sign of a promotion.
Irene. Surprised your still here.
Money you can always make back.
Spending your precious time however... you can never get that back. Your invested one way or another fella.
(from BPC BB....) Tiburn, Thanks. good spot. I will add 'insurance' to next update of future RNSs as you suggest.
Will also add a massive omission on my part.....'Stena ship will sail on dd/mm/yy for the Persv-1 spud.'
1. Does anyone else have any suggestions to add to the list of expected or possible RNSs leading to spud?
2. Any more news expected from CERP in additional to my simple list from this morning?
Point to ponder: on 26/9/14 less than 6 years ago, CERP's predecessor hit 116p a share. Admittedly PoO was c$90/b, but why can't BPC hit £1 a share with a PROVEN massive find within 12 months of me posting this today?
Starchild