Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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:
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 Members are members that have a premium subscription with London South East. 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.
Nelly.. With respect, if you put it as a percentage of how much was lost in comparison to that person's bank balance. I think alot have lost more than Mr Potter on P1. I know I'm still smarting but holding on. Let's hope he can redeem it.
Belly.. With respect, if you put it as a percentage of how much was lost in comparison to that person's bank balance. I think alot have lost more than Mr Potter on P1. I know I'm still smarting but holding on. Let's hope he can redeem it.
Thanks for disagreeing respectfully Nelly. You are assuming Potter ever really believed his share holding was worth the then market price, which in the absence of oil in the Bahamas, it was not. FWIW I imagine right now his professional pride is hurting more than his wallet, although he did nothing wrong.
I would merely advocate caution. However much Potter might or might not be upset, he can not conjure commercial quantities of oil out of thin air. Bahamas was high risk while the Trinidad assets have been worked for years by various parties and never produced much. BPC have enough cash for two drills and have, of necessity, begun raising money and paying for services in a way that is especially detrimental to the short term share price. They need drill success, and they need it soon IMO.
The Millipede824 "Potter's shareholding is relevant only if we know how much he paid for the shares. If they were free or otherwise discounted he is not remotely incentivised in the same way as ordinary shareholders."
Respecfully I have to disagree. It's his personal assets, whether they were bought, or earned with his time at BPC.
The drop from 2p to 0.5p has cost him £1,200,000 of his personal wealth. Find me a shareholder here who has lost more than that on BPC?
The 2500bopd are according to the Philosophers(SP's) stone. He lost the other one when the shares tanked.
Young Gun, On AIM price is everything. Consider a different company, Sirius Minerals. The ex CEO made 10 x his money investing in the York Potash licenses, over the ten years from 2010 to 2020, a very happy outcome for him.
Find me a retail investor who made similar gains! (In fact it won't be possible since the lowest price Sirius ever reached was approx 2p and most investors bought in at prices ranging from 10p to 40p. Sirius was eventually taken over at 5p a share.)
HTH
There is obviously something happening behind the scenes. Potter should have gone but for some reason he is still holding on in there. Maybe there is some optimism to be taken, giving Potter the benefit of the doubt, who the hell knows because I’m not so sure. I’ve still got my holding so it’s a paper loss at the moment.
In.the next 10 months BPC are going to be pumping 2,500 bopd in T & T according to Harry Potter. Does anyone know if he has got Predator on the case as yet for some CCS EOR?
I'm not sure of the finer details as to how it works but we might both get some carbon credits for our troubles, Sleepy Joe's Green Revolution has only just started and there's already a chance for smart cookies to clean up (and clean up.the environment in the process)
What's not to like...
Would have to totally disagree, he loses money with the share price falling just as any other shareholder would. Yes not to the same extent if they were free or discounted but I highly doubted he enjoys losing money
Potter's shareholding is relevant only if we know how much he paid for the shares. If they were free or otherwise discounted he is not remotely incentivised in the same way as ordinary shareholders.
Parpaing, where did you get your information from that Potter has 4.8 million shares? You're out by a factor of nearly 17 (he owns 81,217,700 shares and has options on a further 72,500,000)
It's really the simplest piece of research to do:
https://www.bpcplc.com/investor-relations/major-shareholders/
I maintain that it's VERY much in Potter's interests to get the share price up and have faith that will happen in due course. It was unrealistic to expect him to direct the drill to the right spot on the very first attempt. Majors frequently get it wrong, even when they have hit the same target multiple times already. That's the nature of the beast.
I will respond just to answer that query..
You are clearly winding him/her up and they are fighting back..You can't expect to bully and antagonise people not to get a reaction..
Irene who the hell do you think you are to demand someone tells you their financial position..?
Clearly this sits on a low point so anyone who has averaged down can't be up..Ask the question in a few weeks, months not now when you know theres only one answer but when this rises again on JV news and progress in Trinidad we probably won't hear a pip out of you..
Why do people like you post day in day out on a share that you clearly are not invested in..either you are mentally ill or just a revolting human being.. I just read posts and it makes me angry as there are individuals who enjoy other people's misery. I seek solace in hope karma pays them a visit and something awful will happen to them in return for their actions...
Don't respond to me post I really couldn't care less..
Good luck to all invested in BPC and the tide will turn soon..
Most of the posts on this BB are pure conjecture.
What we do know is that Potter has driven the SP down by not drilling to TD as he said they would, gathering more funds when we were 'fully funded' for the drill and that Eyton said that 3,4,5p is nothing compared to the SP after drilling. 130 million Squid or Dollops and a lot of marketing disinformation.
As an LTH of ten years, 71 years old, I am waiting for the next RNS with the important words such as 'may, potential, could, might' etc.
Starchild, bear in mind you probably have many more shares than Potter, who doesn't care about his 4.8 million shares as he is on 1 million GBP salary!
Lets' sack Potter and vote for Starchild to be CEO.
Petroleuminvest: you asked me a question…..‘What does this mean in potential SP in a years time..please advise’.
My advice is to DYOR or seek advice from a professional advisor who has no conflict of interest.
I have rarely given an opinion on the actual SP, unless backed by P/E ratios, research and analysts’ opinions. Please refer to my 4:16am 22/2 post on the possible permutations. All said and done, I believe most LTHs are going to be OK by year end.
Rather than be a rabbit in the headlights I war gamed the possibility of a total Percy-1 duster which was NOT the case. I had several million shares prior to 8/2 and budgeted for, and bought, several million more since. My strategy was based on the belief the BoD has historically set targets that have been met:
1. Funding the Percy-1 drill despite PoO collapse in the summer.
2. Executing the Percy-1 drill despite Covid-19, Environmentalists’ legal actions, a government in power publicly stating it was against oil exploration and exploitation, and being allegedly stabbed in the back by ‘suppliers’ LO and Lloyds of London.
3. Discovering oil systems having spent $130m to do so, therefore proving their belief and justifying this expenditure.
4. Increasing production to 500/b per day in Trinidad.
5. Funding the immediate anticipated $4m cost of drilling Saffron 2 and the WNZ appraisal well.
I therefore conclude the BoD’s outstanding targets will be met:
6. Monetizing Bahamas acreage in the future (JV/Farm-in, Farm-out). In fact there has been SO MUCH current and potential interest, GNEISS who have a history of negotiation expertise and coming up with the goods for BPC, have been appointed to manage the process.
7. Reaching 2,500b /day in production within 10 months.
Point 7 is key. Tiny BPC with only $4m/year in expenditure excluding Capex can make a net profit (based on $60 PoO WTI and $20/b extraction costs) of $35m per year minus gov royalties. Round figures $30m/year. If this target is reached, assuming WTI PoO doesn’t collapse to less than $25/b long-term, BPC will never ever ever need a CLN or ever ever ever dilute shares. And we will have our own funding for Percy-2 and Uruguay-1 out of net profits.
Point 8 is the potential large dollop of jam on the bread and butter to make us fat and happy. This is subject to the drill result autopsy RNS, meeting or exceeding expectations. I believe this RNS is imminent.
Finally I fully understand some LTH’s frustrations at being 70-80% down, especially because some wanted to top-slice pre-result, and get a free carry, but couldn’t. However before lynching the BoD, I suggest a few weeks of patience. In fact some BPC LTHs who wanted to fire the BoD for the CERP merger are now very pleased it happened.
All IMHO. Always DYOR. Have a great day
Starchild
https://www.lse.co.uk/profiles/starchild/
ps: Harry, some of you comments are unhelpful and totally out of order