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Petro$
Just airing my opinion, made my position clear in an earlier post. What I say or what others say will have no impact on the SP, only news will and as we all know BPC get an F for supplying news.
As of this week, my family and I currently have more shares than everyone on the BPC BoD except Mr Potter (source bottom https://www.bpcplc.com/investor-relations/major-shareholders/ ). I am currently experiencing a huge loss, so the previous sentence is an embarrassment not a boast.
Starchild, do your family still speak to you?
1. BPC’s Market Cap was £25m last night. @1.40 approx $35m.
2. PoO WTI is $63/b.
3. It costs $20/b to extract oil onshore from ex-CERP wells.
4. At $60 PoO this represents a $40 gross profit.
5. The stated goal by year end is to produce 2,500b per day (900,000b per year) from ex-CERP assets.
6. Trinidad does have high corporation tax, but this will NOT apply to BPC until $85m net profit has been generated plus ongoing capex. Round figures $100m. …..’In Trinidad, the assets are governed by corporate tax (55%), SPT [If WTI PoO more than $75/b, it is 50%] and royalties (12.5%)…… IMPORTANTLY, outstanding tax losses are ~US$25 mm for Goudron, ~US$15 mm for Inniss-Trinity and ~US$45 mm at Bonnase/Saffron’…….’ (Source page 20 https://d1ssu070pg2v9i.cloudfront.net/pex/bahamas/2020/12/08133633/Auctus-BPC_IOC_08.12.2020.01.pdf )
7. The cost of a Purina Fancy Feast variety pack of grilled seafood, with gravy, containing 30 cans of cat food is $18.44. (source Walmart https://www.walmart.com/browse/pets/fancy-feast-wet-cat-food/5440_202073_1749780_5753663_3468323 )
8. Off-topic: Your average pet cat spends most of its waking hours figuring out how to kill you and eat you. (source https://www.forbes.com/sites/brucelee/2018/03/11/here-is-why-your-cat-may-be-plotting-to-kill-you/?sh=1bd6c386146f )
9. 900,000b/year x $40 = $36m/year gross, c$30m net profit. Which is approx BPC’s Mcap today.
10. $30m net per year can buy enough LUXURY cat food with gravy to feed 50m cats for 1 day, or 1 cat for 137,000 years.
11. $30m net per year can also pay for an offshore exploration/appraisal well EVERY year without share dilution or borrowing.
12. It can even be used to buy/merge with other companies. And one day, pay shareholders dividends.
I believe the market and short sellers has been so fixated with the result, despite Percy-1 NOT being a duster, the above potential has been forgotten. Rumours about a BPC bankruptcy are simply absurd.
The BPC BoD has delivered on all its promises and met all it targets to date for events under its control. Disagree, but provide evidence.
To publicly complain about the SP is fine, but the machine gun posting of abuse and attacks against persons who cannot publicly defend themselves other than via RNS is akin to using a baseball bat on someone in a wheelchair who is blind.
As of this week, my family and I currently have more shares than everyone on the BPC BoD except Mr Potter (source bottom https://www.bpcplc.com/investor-relations/major-shareholders/ ). I am currently experiencing a huge loss, so the previous sentence is an embarrassment not a boast.
As a relatively major holder I remain confident the SP will recover to +/- 0.8p very soon, with SUBSTANTIAL further upside based on expected RNSs, some imminent. Refer to my previous posts for the rationale. But that’s just my opinion so please DYOR.
GLA
Starchild
https://www.lse.co.uk/profiles/starchild/