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GG: You are a gentleman. And I commend you. Nothing wrong in sharing the response from BPC today....my only issue was disclosing the email address within it, which I assume will be edited by LSE in 24 hours to avoid spam to the poor lady who sent it...Tara? . I firmly believe you did not do this with will intent.
Good luck mate
Starchild
GG thanks for sharing the reply as it highlighted the fact that BPC dies return shareholder enquiries. Star I'm not sure why you were so vociferous in your message to GG. Surely most of us are here to ask questions with regatd to making investment decisions.
I apologize profusely to anyone I have offended for any opinion or comment I have posted on here. In the future, I will keep my opinions to myself. and will not post any further comments. I have tried to delete the reply from BPC several times and i am happy for LSE to remove the post, but I am struggling to do this and I have tried to remove it. I look forward to the company having a very successful Oil drill in December and January and sharing in the success with everyone else as a shareholder. Thank you to Tara from BPC for her reply on Sunday and good luck to you all.
S740 - quite correct. I have recently posted with regards to the staffing and resources dedicated to BPC within IOMA House and while it is good of Tara to confirm the arrangements, the posting of her mobile number was not, I would suggest, in anticipation that it would be published on a forum such as this. I hope shareholders will act in a suitably respectful manner.
GG, 01624 is not a premium rate number it is the standard STD code for the isle of Man, the message is warning you that as the island is not part of the UK many service providers do not include 01624 in their inclusive bundles and charge you at their standard international rate. This is not something over which BPC have any control, it's just how it is. If you call the island regularly use one of the providers who do include it in their bundle.
In4cendros. Thanks for your advice I will put a lot of thought into your valued comments.
GarryGraham - there are a few paragraphs in my book dealing with a troll who suggested that LGO/ CERP was a huge fabrication - posters tried the usual helpful suggestions alluding to the fact that the accounts were audited etc but this cut no ice - in the end I challenged him to up the stakes to suggest the government of Trinidad and Tobago were also involved as they are in ultimate control of the Production Sharing Contract through Petrotrin ( now Heritage ) - they publish monthly stats through MEEI ( Google Trinidad MEEI publications) which include a column on PSC production. As CERP own most of the PSCs in Trinidad the figures should bear a relationship with the official accounts produced by LGO/CERP. Additionally Petrotrin sent a representative daily to Goudron to measure tank oil - he was affectionately known as the daily dipstick!
Obviously Irene isn't knowledgeable about these matters otherwise she would have helpfully included the above information!
I don't claim historic knowledge of BPC so I can't reconcile their oil production over the years in the same way but I'm pretty confident that they've not been over extravagant in their bopd claims - it may be a bit remiss of me not to check any historic claims they've made but I must confess I have, perhaps foolishly, relied on BPC merger rns info where they stated one of the reasons they wanted to merge with CERP was so they could show SOME PRODUCTION which implied they had none - didn't those rns raise a red flag with you Sherlock?
In my epistle to LayLadyLay the other day I asked him, jokingly, to produce evidence of an unsuitable investor - I hate to say this but I think you come very close Garry - I don't give buy/sell advice Garry but think of your children and your blood pressure mate!
Star - stop being a prick . I have had the decency to reply and put the email on from BPC which shows professionalism and allays any fears. I will try and remove the post as it offends you so much. FFS chill out.
GG: totally out of order posting a live email address, based on confidentiality statement at the bottom.
It also shows this BB is constantly monitored by the company!!!! Because the exec assistant to email you on a Sunday, while she is on leave.
I suggest you remove the post and edit it out of decency
Starchild
That has told you then GG.
Irene quote...'subscale garbage'. If she is referring to her posts I tend to agree.
If based on revenue, 450 Boe/day x 360 days, assuming $40 PoO at $20 extraction costs on-shore = $3.2m/year. That's $3.2m dollars of 'subscale garbage' a year BPC did not have until after the merger in August. Excluding the upside of S1, S2, and Suriname, projected to net millions end of 2021.
Irene: I am still awaiting for an apology as I based my figures on corporate presentation goals and 3rd party proven P/E ratios x17 used for oil industry market caps and not my predictions. Please withdraw the allegations….’ lol, you made a crackpot prediction of profits in 2021’ …and…. ‘You really are a crackpot. I feel sorry for all the newbies who seem to be taken in by you.’
Are you man enough?
Starchild
.............ermmm.............!
an Q the Dross chapter............. :()
All the best (we'll have all three (one filtered but) , still fun :()
Pretty sure it's a freebie to us on a 50/50 LLL (not you :) but happy to be corrected.........!
on both aspects ............ :()
Yep, I'm practising my wizardry ........... even bought some glasses....... :()
All the best (Hermony has caught my eye.......... ! :()
Chesh, you can't help yourself from constant ramping can you?
How is that US$4.25m from PRD progressing? It's a rhetorical question, we know it's not happening. It always seemed to me to be nothing more than a carrot to attract the greedy, one that you mentioned at every opportunity as if it was a given. I expect PRD will bide their time and make another low ball offer when BPC is crying out for funds. I think it's more likely that BPC will sell off CERP assets as and when cash is needed rather than go to the expense of trying to develop them, despite that not being the proposed modus operandi, but we shall see what really happens when push comes to shove.
You don't have such a positive vibe GG.............!
does your son have the same thoughts..............?
All the best (whispers...........! :()
Linton - thanks for that. I look forward to hearing from them. Like I say I have monies invested here but I do find the circumstances strange. If BPC comes back to me with a reply, great I will update the BB. I am not deramping I am just stating the truth which I find disconcerting. I will update the board if you dont like what I write filter me.
"This is NOT a small company"...............!
not that your not wrong, but it ain't going to be smaller on the spud (results;) ......lol
All the best (words per min.............. massive :()
GG: I strongly recommend you sell up, especially as I believe it's your kid's inheritance which you have stated before. It's not worth the high blood pressure or stress under the circumstances.
BTW we use telephony systems in several countries which are programmed to go to a back-up extension (if not answered in 'x' rings) routed to a a mobile phone or other extension. If this too doesn't answer in x rings, it goes to a central live operator service who will take the messages worldwide and email us. Occasionally, and very rarely, the operator if a novice (who is dealing with many companies) can't even pronounce the company names correct or doesn't even know key persons.
Garry, there is no issue at all here. I have swapped emails with Tara several times over the years and she has set up a call with the CFO and CEO previously when I had questions around licenses etc. I am sure she will reply to you in due course.
My main concern right now is do they have oil in fold B... :-)
Star - I am not alleging BPC are a fraud or anything similar but i am not discounting it, come on if they dont have anyone answering the bloody phone in their "offices" does it not worry you? We are talking about a £100m cap company that are supposedly going to be drilling for 1 billion barrels of oil and they dont have anyone in the Bahamas or the UK answering the phone . As an oil company, they have not taken one drop of oil of out of the ground yet. Dont talk to me about virtual offices I have staff in 3 continents who work for my company and I have virtual offices but all my clients and suppliers can get hold of me or any or my staff at any time and they can do that for free without having to pay a premium phone line. This is NOT a small company. This is almost a 100 million market capital company that cannot even respond with a proper email and you are trusting them to recover a billion barrels of oil out of the ground in. What are you going to say if I find out that there is no one working at their Bahamas office address I have people in the Bahamas looking into it? Do you not question that this may be somewhat strange with less than 8 weeks to go? You wonder why the SP is at 2.5p and Trafalgar dumped squillions of shares the answer maybe staring you in the face. I am not a deramper I have invested a considerable part of my lifesavings in this oil and gas champion ( as potter states) but I wont be the first to have been hoodwinked and I wont be the last.
I wonder, do you often contact the office of publicly listed companies who have a premium rate number and then ring it anyway, knowing it was a premium rate number. Perhaps it is premium rate in any case to stop folk ringing with questions when there is a FAQ page on the website.
Why email the office when we know the folk you want to answer the queries are out and about - some in Sydney as per recent presentations and some elsewhere dealing with the run up to the drill, perhaps organisng Haliburton etc.
Is the answer to your query so urgent that it needs you to pester a friend out in the Bahamas to visit an office (which will be a servced office like Regus).
Perhaps someone here may be able to answer your pressing question - or was it merely to complain they had a premium rate number?
In this day and age where everyone can work remotely - is there any reason to purchase freehold or have long term lease on a bricks and mortar office?
The office is based in the IoM for obvious tax reasons and the office in the Bahamas will not be fully occupied as the staff are busy polluting the air with their long haul journies so they can sort out dotting the i's and crossing the t's in order we can all benefit from the oil beneath the sea.
Not a personal attack and I will read the abuse later in the day as I have more pressing matters than having a rant today.
Stay safe all - a new week beckons tomorrow ;@)
GG I read your subsequent post. What are you alleging? a fraud? People on this BB including me have emailed BPC and got responses. When I phoned I have also got a response eventually but that was before covid-19. Lot's of people are working from home. This is a fact. I'm not here to defend BPC's admin processes. Do you really think in 2020, a company as small as BPC (employees spread around world) rent office blocks? They don't need to and it saves us shareholders money.
BTW, I have several companies in various countries and used virtual offices/phones for years. When we wanted to meet face to face we used biz centers, IOD for UK, or hotels in various countries.
Starchild
https://www.lse.co.uk/profiles/starchild/
GG. Answers embedded below in [ ] as best I can in the time I have avail. I'm not sure why you want this info.
Starchild
https://www.lse.co.uk/profiles/starchild/
1. How many barrels of oil has been produced and sold by CERP (or a different trading name) in the past 2 years? [Please refer to revenue figures in CERP financials 2018 which also shows 2017 https://columbus-erp.com/wp-content/uploads/2019/06/Columbus-Energy-Resources-plc-Annual-Report-and-Accounts-2018.pdf ]
2. How many barrels of oil has been produced and sold by BPC in the past 2 years? [Zero. Why do you think otherwise?]
3. Apart from the intangible assets of the licences what assets did BPC have prior to the CERP Acquisition as I cannot see very little in the balance sheets ? I may be missing something. [I think you are right, but check 2019 BPC accounts]
4. There are six board members according to the official website: Bill Schrader, James Smith, Simon Potter, Adrian Collins, Ross McDonald and Leo Koot. All but one of these directors is a NON- EXECUTIVE Director. The one exception being Simon Potter. Does anyone find this unusual? [No. Why, do you?]
What personal stake or shareholding do these non-excecs have in BPC ? {This is stated on recent RNSs but i can't remember where]
6. Has anyone on this BB seen any presentations from anyone other than Simon Potter or Eytan Uliel ? There are 18 board and senior management but it only seems to be Potter or Uliel who represent the company publicly. [Correct. This is common to have a face or two of a company doing interviews. The lady who did environmental study did represent company but not in interview only in writing and by producing a document which is now online. Musk is the usual face of Tesla. Tesco CEO is similar. Key BoD members (or press secretaries) usually do the live interviews. Not all of them]
Dya feel better now...............?
I held my breath reading dat, and gasped ............. :()
All the best (nil contact then.......... ! :()
I sent an email to BPC as per the grievances email address on their website on Friday. In the email, I sent I mentioned I was an existing shareholder and enquired simply why the telephone number for their "head office" in the Isle of Man was, first of all, a premium service telephone number ( it quite clearly states this in the recorded message when you phone it) and secondly why the receptionist when answering confirmed she had never heard of BPC and that there was no one in the building of that name. I also enquired why I could not get through to the Bahamas office as there was supposedly a drill in less than 8 weeks and one would have assumed that the offshore office would be very busy with lots of staff. I received the following automatic email reply from BPC: "I am currently out of the office on leave and will return on Monday 2 November 2020. If your query is urgent you can leave a message at +44 1624 647883. Thank you. Tara ".
The telephone number offered by "TARA" who does not have a surname nor job title is the same telephone number I dialled in the first place as advertised on the BPC site, in which the receptionist said no one from Bahamas Petroleum Company has worked there or currently works there.
I then contacted a very reliable friend of mine whom I have known for over 30 years who owns hotels and leisure complexes in the Bahamas. This friend of mine said they had phoned the office of BPC based in the Bahamas a number of times during the day and that this contact number always rang out. This person is going to travel over to the office address as advertised on the BPC website and see if anyone is based there let alone working there. I will let you know. Furthermore, when I inquired into some of the senior management as advertised on the bulletin board. Jane Bond - the resurface manager is an independent consultant working on projects for a wide range of companies. Nowhere does she advertise the fact she is the subsurface manager for Bahamas Petroleum Company and David Bond "the drilling Director " states on his linked in profile that he is currently working as the drilling director for Ophir Energy and has been for over 5 years. As stated the reason why none of the other 15 non-execs or senior management ever post comments or make presentations I cannot offer a reply. My research tells me that the office in the Isle of Man is a virtual office used by hundreds of companies worldwide and in the past has been linked to the infamous Panama Papers. It is very easy to "rent an office" there as it is mainly used as a virtual office that offers meeting and board rooms available to hire for a day and a virtual address.