London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
You will only have one login account. Registering with multiple accounts is not allowed. Any user found to have more than one account on this site will have all, and any future accounts suspended permanently.
Your email and password must only be used by you. If a post is made under your account, it will be considered that it was posted by yourself.
Your account nickname must not be the same, or contain, listed company names or board members' names.
While debating and discussion is fine, we will not tolerate; rudeness, swearing, insulting posts, personal attacks, or posts which are invasive of another's privacy.
You will not;
discuss illegal or criminal activities.
post any confidential or price sensitive information or that is not public knowledge.
post misleading or false statements regarding the share price and performance. Such posts are deemed as market abuse, and may be reported to the appropriate authorities.
post any private communication, or part thereof, from any other person, including from a member of the board of directors of a listed company. Such posts cannot be verified as true and could be deemed to be misleading.
post any personal details (e.g. email address or phone number).
post live price or level 2 updates.
publish content that is not your original work, or infringes the copyright or other rights of any third party.
post non-constructive, meaningless, one word (or short) non-sense posts.
post links to, or otherwise publish any content containing any form of advertising, promotion for goods and services, spam, or other unsolicited communication.
post any affiliate or referral links, or post anything asking for a referral.
post or otherwise publish any content unrelated to the board or the board's topic.
re-post premium share chat posts on regular share chat.
restrict or inhibit any other user from using the boards.
impersonate any person or entity, including any of our employees or representatives.
post or transmit any content that contains software viruses, files or code designed to interrupt, destroy or limit the functionality of this website or any computer software or equipment.
If you are going to post non-English, please also post an English translation of your post.
If you are going to post non-English, please also post an English translation of your post.
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium and Verified Members
Premium Members are members that have a premium subscription with London South East and have access to Premium Chat. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Bhoys, you are clearly new to BPC and this board. What I will say is this. You will find very few, and I mean very very few, who are under the skin of BPC as much as I am and who want the company to do well, my money is aligned to that outcome.
It does not stop me calling out a bad deal when I see it though and this as it stands is a bad deal. Listen to all the newcomers as much as you want and their half truths which it look like they’re informed, they’re not really, they are just revelling in being a disturbing force.
The metrics of this deal don’t add up at the moment and that is simple undeniable fact. CERP have next to no production, the oil market is against their business model at the moment and will be for the foreseeable and all of this joint merger requires additional money which, as it stands, there isn’t any sloshing around in EQi their company.
CERP holders will remain positive about this deal because they’re getting a good deal and their future would be looking extremely uncertain without it. Prior to this announcement BPC were on a pretty clear path with a plan to fund a drill, the share price would have continued to climb on milestone news flow and will go back to doing that once this bad deal CERP merger is kicked into touch.
Good post PAGE. Very well explained. Jim your obviously not in the know. Are you in league with Irene K? CERP shareholders are the ones taking the bigger risk. We should be pleased that L.K and the CERP board agreed to the back merger. It gave me renewed optimism that we would get to drilling P1 and that the BPC board were in fact looking at all possibilities to strengthen our position with an oil producing company with a good portfolio of projects.
Lovely place m8. I headed there thinking it would of been quiet but it was chocka everywhere due to the weather. Stayed in Willymouth too. Hired a place with a hot tub then took the kids to a nearby farm n watched a Lamb being born ??. Fantastic. Will be heading back to lakes soon to do some hills.
POC , I agree that there is more expertise in the BPC team to prise more production from CERP assets, with little need for any large scale expenditures. SP might not be the most charismatic CEO but he’s an oilman through and through, hence his appointment by Alan Burns. He has worked on Trinidad during his time at Hardman and I’m sure this was a factor in the merger.
LSE won't print the town nearest myself and Buttermere. It ends in mouth, it has been flooded a few times, has loads of daffodils and some old fella called William Wordsworth had a house on the end of the Main Street.
I live about 4 mile from Buttermere willibobs. Buttermere is usually one of the quieter areas? Must have been the good weather and a few locals, most of the people who live in ------mouth use Buttermere because there are less tourists!
You know the score IK. Have a good weekend, rather wet here in the Lake District. I think Dolly Parton said " If you wanna rainbow you gonna need some rain" We just want the pot of gold. Take care matey.
You have to remember that Coloumbus could have done deals and consolidated with a host of other oil companies, particularly in the region, some with more cash and there own producing assets, however, on due diligence Columbus chose BPC. This is not a case of BPC pitching up and saying we need your assets, or we like your assets can we have em'.. aimho. dyor.
There is an old oil field saying "If it ain't broke then don't fix it", not always true but in my opinion, so far it applies to this merger. As a very LTH I have yet to be convinced by either of the BOD's that the merger is a good one, so lets leave it, for now.
jimtheknow, you should be aware that production at Columbus can be increased and revenues increased without further cash investment. This includes, improved terms at oudron currently beng negotiated with Heritage, Saffron 2 appraisal well being drilled at no cost with 75% production reverting to Columbus after payback to the driller, 2 wells on EWT in Suriname with results due, Trinity Inness field on CO2 injection paid for by predator as art of 50/50 JV with Columbus with Predator the option to pay Columbus $4.2m for it's 50% in September. Apart from this, there are new ways and technical changes the BPC team can use and bring to the table to increase production from the current producing fields in Trinidad. A rising oil price will also mean more cash generation. All this for no new investment. aimho, dyor.
The only thing that can be known, and is known, about this merger is that BPC are planning on taking control of a loss making business which has liabilities that will need covering until oil is comfortably back above $40/barrel and that CERP produce so little, as little as 600/bopd, that it doesn’t and won’t generate enough revenue to payback the £25m outlay for the best part of a decade. The only way it can shave years off that payback is to increase production, that requires investment of money, BPC have no spare money.
Those are the facts of the deal on the table, it is as simple as that.
CERP is a loss leader with hopes and dreams of mediocrity.
Any neutral comment or heaven help us slightly wary view of the merger just gets pounced on and consumed by numerous posts denigrating what are valid points from some loyal holders. It gets tiring reading the same old tripe. I always get suspicious when someone keeps repeating the same old lines, they are not doing it for my benefit. Are they altruists? Do they care about my well being? Are they trying to save the World? Why are they are pushing it harder than the BoD? 75% will take some doing. The constant pushing could result in more pushing back....
Whilst I cannot agree with 'vomit' per se. The board is currently awash with views which are poles apart.
Not knowing any ocf the posters personally can ANYTHING be taken for truth?
Which is why your comment about research is key to the whole thing.
LTH have been through the mill on numerous occasions so when good news comes along there will always be a mood of sceptism - which is different fro negativity - as we have had major ulifting news in the past only for what is left of a much shortened rug,to be pulled from beneath out feet.
So for the relative new comers and the brand new presently, this is how some people roll around here.
I have lost count of the times I have counted my eggs in my basket.
We do need a further update on the deal before the motions are passed/killed - I am sure the board are aware of this and the silence is quite deafening. Perhaps there is something stopping them from letting the cat out of the bag.
Have a great weekend folks. Stay safe - keep off them beaches lol ;@)
P.S. I can't believe how good a deal this merger is and yet the wider market haven't woke up to it yet and still keep marking it down, must be an absolute bargain given there is nothing wrong with the deal and only good can come of it.
P.P.S. do not buy anything on the back of my above sarcastic comment and use it as a prompt to research and look for the good in what appears to be mostly bad. And if you find the good, let the rest of us know will you please.