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Morning all,
I am a long term holder and will remain so as I believe there is a small potential upturn for the cerp assets.
My limited previous posts have been done with confidence to assist with P1 and the legal issues in the Bahamas.
I’m surprised of late that this board is now migrating into the fact that P1 was a success.I have read and re read every RNS relating to P1. Can someone please help me and direct me to a paragraph where it states “ We never intended to find oil but simply to establish a working hydrocarbons system for future analysis and further exploration in the Bahamas via a farm in “
That would be a success in my opinion, that said didn’t we have 10 million pounds worth of 3D technical data to confirm a working system without the drill? Where is the RNS confirming any positive outcome on P1 in line with the boards objectives based on previous RNS ?
Furthermore,
I was particularly disappointed this morning to read Starchilds post. A poster I have held in very high regard. However, to imply a 30 min conversation with a board director and Star himself to decide that was confidential, is a concern and may leave some posters to believe not an independent and impartial poster.
As a shareholder you have the right to communicate with the board at any time as long as no sensitive info is divulged, in fact bloggers and big shareholders such as Malcy actually get invited to view drill sites and speak with the bod to the companies advantage of course, it's quite normal.
Baroloboy
No where is the answer, there are 3/4 people on here who seem to have convinced themselves that an instant 70% drop in the SP as well as continuing fall is a successful drill.
Of course he had a phone to a director!!!!!!!!!!
Im 80% down as much as the next man.
I dont lament the past, what could have or should have been, how PI have been treated, dilution, funding debacle, poor comms , choice of drill site or otherwise - as I have respect for BPC enabling this drill in the first place - it was not our PI right or guaranteed in any respect - but a position they engineered by all means possible against massive hurdles and opposition.
Do I think this drill result a success? no, but it is a qualified success.
Working petroleum system gives some hope
No HC encountered (a true duster) and hope would also be as dust.
Farm in - we shall see what occurs
CERP asset insurance needs to pay off now.
We should know about both within two months - if nothing material, then sell.
So it seems the majority consensus is that we are doomed. BOD's just in it for a lavish lifestyle. False promises and untruths. Think I'll stick mine in the draw and see where they are on 12 months. I'm not selling at 65% loss. Let's hope there's some truth in what's been said. Once again the reading here is depressing.
I gather the BoD and BPC staff are working very hard to get the work programme started in T&T and Suriname, aswell as increase production from Goudron and the other fields. Doing this at the same time as the team in Houston / Nassau analyse the P#1 well. I can see why Gneiss are taking care of the farmout process. There's just so much bloody work to do. That's why it's so quiet. An update will be coming as to where the land lies, dyor
A very unhappy investor who believed the crap the BOD peddles.