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IBLONDON.... that’s ok then, best stick to the devil you know....it’s just that some years ago When we were going to bpc presentations rrl with Pete landau was about where bpc is now, he really knew how to ramp up his firm... he got it up to £500m mcap for his t&t 500bpd and Somalia wild cat drill.... it all went tits up of course! Atb- see you on other side..
LaidLadyLay,
I was invested in Leni Gas & Oil and much to the "annoyance" of HMRC took a hit on it as a silver lining. Strange how things go full circle (small world) and now that hysteresis has leaped into BPC.'s control. Nothing a red hot poker can't sort out.
Thanks for the info Layladylay.
Certainly an amount worth having if we can manage to increase production as planned. Should return enough cash to fall back on to help pay for future drills rather than just expenses and director's beer money.
IBLONDON. good one
Patoir
"maximum hype going into and during spud! The rest is down to results!"
Coolio
Hi Molokai, no, BPC is my only oil stock holding. Why, similar arrangements?
Exactly DT
We will get to the point when shares are in sticky hands and we say goodbye to the 10%-20% ers!
LayLadyLay - many thanks for your submission - unfortunately it falls woefully short of the high standards required for ' Cultural Learnings of in4cedros for Make Benefit Glorious Columbus Energy ' upcoming literary gem but my public relations director did suggest that talent like yours should be let down gently by damning it with faint praise and indicating that it would stand a much better chance in the self publication market under the Fiction rather than Non - Fiction section!
Do not be downhearted LayLadyLay as you will certainly be getting a mention in the book - you will not be surprised to learn there is a catchily headed chapter ' important Message from the Financial Conduct Authority ' where I discuss what may constitute market abuse giving various examples - including where bulletin board members post alleged knowledge of Placings on a Friday for the following Monday causing alarm and likely panic selling by shareholders! Other variations on the Placing theme may not violate the law but are certainly loathsome, particularly when associated with ill judged requests for cash donations in return for agreed posting refrain !
The record will show that Ritson almost bankrupted the company - I remember you suggesting to shareholders at the time they were likely to be wiped out - fortunately most hung on and some are still here prepared for the adventure of a lifetime in oil exploration with glorious BPC. Ritson was reckless because he ploughed on regardless with a drilling programme using borrowed money where repayments were predicated on moderately successful production which was not achieved - pausing to assess results after each well would have led a reasonable BOD to cease the programme at a much earlier stage to preserve shareholder value!
Enough of this history - my learned friend Chesh has posted today ' This share is very high risk. Everyone who has invested in it who has at least one brain cell knows that including me but it's fun while it lasts ' . I know that you like to represent the alleged Post Office Book investors who've somehow had their accounts converted to BPC shares without knowledge of the risks involved and that fantasy suits your trolling agenda but really LayLadyLay is it plausible - show me an investor who's in that category - be quick - I'm not accepting entries after the spud from bad losers LOL!
Regarding CERP asset projections from BPC the company must defend their figures but those investing in a high risk share like this should be aware that a projection is not a promise ( BTW I don't recall Koot PROMISING 500 million MC after 5 years - he certainly had it as an aspiration though! ) . I'm happy to acknowledge their projection is based on Saffron 2 success and consequent scaling up together with progress elsewhere so if Saffron 2 falls short of expectations the projection should be revised - isn't that just common sense LayLadyLay?
Have a great weekend - Stay Safe !
PI
Going back to your original post on this thread. It has been suggested to me by a trusted fellow investor, that the news flow is and will be managed to create maximum hype going into and during spud! The rest is down to results!
Looking forward to the next few weeks!
Cheers
Patoir
Oultonmike
They have to give a minimum of 30 days notice, so the 15th November is the latest they can give, assuming the 15th arrival as previously announced.
Here’s hoping for an earlier announcement!
Cheers
Patoir
Layladylay - Great post and the wisest words I have read for a long time " I could go on at length but the point I wish to make is that a forecast on a slide is only of value to shareholders if that forecast is achieved, otherwise it's nothing more than sales talk. We know from experience that Koot is something of a salesman and has failed to live up to expectations during his tenure at CERP". Very eloquently put !! I do hope Messrs Uliel, Potter, and Koot are genuine oil visionaries and deliver the results. The alternative is they are experts only in the art of convincing gullible investors to spunk their pension and savings by continually buying shares in their phantom oil companies".
It's been 3 weeks since the 2p placing. Sp quickly established a 2.2p bottom line and looks now to be solid at 2.5p.
I can only see a steady rise before the frenzy when Stena submit the sailing departure schedule (November 15).
Gla
Evening IBLONDON, still here after all these years....makes sense for cln as you say. Did you ever have a holding in rrl in the t&t days and Somalia?
I guess the Trinidad production is the collateral for the CLN in a worst case scenario for PS1.
"In terms of profitable production growth, producing assets in Trinidad and Tobago (as at when they were incorporated into the Company consequent on the merger with CERP being completed in August) were averaging production of between 400 to 450 barrels of oil per day ("bopd"). The Company is targeting achieving a stable and sustainable production level of approximately 500 bopd (net) by the end of 2020, and programs to deliver this outcome have already commenced."
" ... our production target builds to 2,500 bopd (net) by the end of 2021, to be realised through further evaluating and pursuing production from already known discoveries in both Trinidad and Tobago and Suriname."
https://www.lse.co.uk/rns/BPC/interim-results-for-six-months-to-30-june-2020-ozo6k3jgxkciib1.html
Would anyone please be able to advise
What is the current bopd production from the CERM assets? And as a bonus question, how many active wells do they have of their own or in partnership with FRAM
Any assistance would be much appreciated
Cheers Nicodemus
It was a compliment Chesh...:-)
In4cedros - (re CERP) what value @ £15 million projected production revenue - was that slide 21 ?
The first incarnation of CERP was known as Leni Gas & Oil PLC, from 2006-2014. Then it was renamed LGO Energy PLC until 2017 then renamed yet again and Columbus Energy Resources PLC. This was a poor choice of name due to Christopher Columbus being something of a hate figure in Trinidad but that was the least of problems faced by the incoming Koot management team that largely replaced the outgoing Neil Ritson.
Ritson was a geologist and he utilised his specialist knowledge to develop a cunning plan that forecast production rising to 7500 bpd by 2019. What value forecasts, as reality is often significantly different to projected output on a chart?
When Ritson almost bankrupted the company in came Koot, waving his CV around and promising a 5 year plan to create a 500MC company out of the ashes of LGO. Koot is a Petroleum Engineer not a geologist so which discipline would prevail in terms of results? Despite all the fanfare on Koot's arrival, Ritson was more successful in that he achieved greater production out of the then LGO assets, mostly at Goudron. Koot took a different approach and IMHO he bit off more than he could chew in his attempts to grow the company by acquiring other assets.
I could go on at length but the point I wish to make is that a forecast on a slide is only of value to shareholders if that forecast is achieved, otherwise it's nothing more than sales talk. We know from experience that Koot is something of a salesman and has failed to live up to expectations during his tenure at CERP so I would caution reliance on any forecast of production from Trinidad assets. I feel that forecast production at end 2021 is pie in the sky but that's simply my opinion.
JBT2007................. :(
soz .............!
All the best.
Chesh, well said. Also you can string a sentence together! who knew...
Irene: Please apologise so we can move on. I allege your last posts is FAKE news on your part! As a reminder...............
See https://www.lse.co.uk/profiles/irenekrapp/
See https://www.lse.co.uk/profiles/starchild/
Respectfully,
Starchild
Irene: I am still awaiting for an apology. 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.’
You are free to opine that the SP will hit minus 1p if Percy-1 is a duster, but not to state the above, as I provided evidence in good faith why ex-CERP assets alone can hit BPC's first £200m market cap by end 2021. ALL based on recent BPC presentations.
I have no issue with our little 'skirmishes' over the months mostly done with a bit of banter, however I have an issue to the above. Are you man enough to apologise?
Starchild
https://www.lse.co.uk/profiles/starchild/
Oh behave Irene........... ;)
"you will make money maybe 4 or 5 times your original investment. "
All the best (Ross told me.......... :()
GarryGraham
“If P1 was a total duster how could you envisage the BOD raising finances for exploratory drills in Uruguay or further developing CERP assets. Yet more dilution in this scenario ?”
You nailed it.
Great news - Irene's suggesting 0.5p possible value for CERP as a loss maker - what value @ £15 million projected production revenue - was that slide 21 ?