Firering Strategic Minerals: From explorer to producer. Watch the video here.
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New holders: welcome to BPC.
Elevator pitch
Let’s start at the beginning. Millions of years ago, lots of little creatures died and turned into crude oil. For >10 years BPC spent c$150m trying to find them south of the Bahamas. The 8/2/21 drill result was a WPS but non-commercial. The SP collapsed, however BPC believes this asset can be monetized by 4th quarter. Their cousins in Trinidad and Suriname are hopefully about to be found at the first attempt, via a 1st spud in 4 days. This is known as Saffron 2, however there are 9 Saffrons and the whole South West Peninsula potentially holds 230mboe, the size of a North Sea oil field. BPC is currently producing 450-500boe/day and is aiming for 2500 by y/end.
Deep dive
I suggest all newbies watch two presentations by Eytan Uliel, CEO.
• 29/4/21 (31 mins) https://youtu.be/oEl4lw107OA
• 6/5/21 follow up QA interview (38 mins) https://www.youtube.com/watch?v=97B0ZuskdrI
• Read the 5 page Auctus 27/4/21 pro-analyst’s report which discusses a 1.2p SP short-term: https://d1ssu070pg2v9i.cloudfront.net/pex/bahamas/2021/04/28113530/Auctus-BPC-27.04.2021.pdf
• Register for the UK-Investor-Mag conference on Tuesday. https://ukinvestormagazine.lpages.co/may-uk-investor-magazine-virtual-conference/
Warning: A small group, some who admit to shorting BPC and ex-holders, bombard negativity on this BB 24x7. Some resort to name calling and trolling, so be warned. There are several LTHs who occasionally air their frustrations. This is their right while sitting on 80-90% paper losses, however I believe this will change.
Some new holders will sell ASAP to make a quick 10-15% return. This is their right. But IMHO, at 0.35p the SP is seriously undervalued. Why? The funding bar is set @0.8p. Trinidad tax credits alone are c$25m net. In Aug 2020 BPC merged with CERP for c£25m at the hight of PoO collapse and Covid. Yet two years ago, a less developed CERP compared to now, had a MCap of >£40m. Lots of news is expected soon including the Bahamas autopsy. The large dollop of jam on the bread is if the Bahamas asset can be monetized 4th quarter. In the meantime, a lot is happening in Trinidad and Suriname to spread the risk/reward.
I subscribed to the OO and Placing and have been a shareholder since 2014 with 10s of millions of shares, mostly acquired since the Bahamas result. I post researched caveated opinion most days and we will keep an eye out for any questions you may have.
DYOR. GLA. Onwards and upwards.
Starchild
https://www.lse.co.uk/profiles/starchild/
Thebhoys: I am NOT a paid ramper. I do NOT post 24x7. I did NOT state ‘@0.9p, there’s not much room for the SP to drop.’ … I stand by the opinion I have stated on several occasions when the SP was 0.5p – 0.6p…. ‘There’s very little scope for the SP to fall further LONG-TERM, yet huge potential for a surge in the short-term. AIM is quick to punish and quick to reward its penny share companies.’
Why not add that shares can currently be bought on the open market cheaper than the Placing that the Broker and Placing Agent are trying to get away? Not many take part in placings a premium to the current price that any share trades at.
"Welcoming new investors & pitching to potential investors".....
Starchild can you see why the accusations towards you continue to stack?
SVS: eh?
WE? " I post researched caveated opinion most days and we will keep an eye out for any questions you may have."
This will soon move back up and seller's will be left behind.
All begins next week.
Buy and hold.
This is all set for a quick rebound wish I had more to put in, bargain buy here.
Petrodollar. Bonum
Here you go
I'm sure it's going to bounce to high it will give everyone a nose bleed.
Get real rampers
I know ZagEgypt looking forward to a nice rally in the next 6 - 18 months
I am proud to be deleted in the good fight against the Gang Ramp!
Protect the weak!
Look at the history, LGO, CERP, BPC.
Remember RRL.
Statistically, technically in my view, S2 will do for Challenger, what S1 did for Columbus.
We cannot hold back the Ramping tide, they have too many years of experience and too many keyboards active, but we can attempt to provide balance.
The next time this share bounces upwards will be if S2 proves successful but by that time the SP will have dropped such that the bounce will reach the OO price so back to status quo. This will continue until the oil sold is more than enough to pay the BOD wages then it may climb some. It is difficult to see where the money will come from to develop the field. The consolidation and the name change will make a good smoke screen.
And even with all there constant ramping getting the truths deleted what going on 50 posts been removed today and even gang ramping and even they can’t even stop this boat from going under and they work harder than the company at trying to sell this to new investors lol very sad hiding the truths to con people out there hard earned money and sometimes life savings for there retirement it’s actually quite sickening I can take the losses I have here I’m 30 lesson learnt and plenty of time to re coop but some can’t
Last minute chance for shorters or potless nobodies to deramp and slander the company before the Saffron 2 appraisal well begin's on Sunday, many were saying it wouldn't happen, now they're on about the funding, I new it'll all go ahead as planned and the rig and equipment is on site and ready to spud. I'll be copying your post today as in a month's time I want to see you all here.
Copy this, Saffron2 appraisal well will be a game changer for the company without doubt.
@Deltalo
"Copy this, Saffron2 appraisal well will be a game changer for the company without doubt."
Not getting at you , but anyone could write that and if the SP raises or drops significantly, it's a correct statement in either case.
Still waiting for the dust to settle here - which means consolidation and all new shares admitted to trading.
It is hard to get that excited about S2 though. What is the S2 CoS? Is it as high as some on here seem to think? We have been told that
“Design of the Saffron-2 well includes a production completion, allowing for immediate oil production and sales on a successful well, with anticipated rates of 200 - 300 bopd, which it is estimated would provide more than US$1.8 million per annum of cashflow to the Company. Based on these pre-drill estimates, Saffron-2 would have a payback of 12-18 months and an ROI of in in excess of 200 per cent.”
Where do these anticipated rates of 200 - 300 bopd come from? Further data from Saffron-1 was certainly promised but it never materialised. Is there good news that they have held back or are they again going all the way back to the 207bopd that UBOT-1 flowed? For how long did that 207bopd flow? 12-18 months? Research this if you dare. Some on here will remember what Goudron’s high initial flow rates translated into over the longer term.
Anyway, to all new holders and potential new holders looking in and wondering whether S2 offers an investment, or at least trading, opportunity. You will see posts on here by Starchild. He routinely offers up his posting profile (https://www.lse.co.uk/profiles/starchild/). Take him up on the offer, take the time to get the gist of his 15 months of BPC posts and compare what he posted against the outcomes that were subsequently RNSed. Then decide whether you want to be guided by his wishful thinking.
But where is the money coming from to develop the field if and only if Saffron 2 is a positive result. Yet more dilution. This is just a leisure and entertainment company for the management and their wages! Just wait for the options package to come out! Show me shareholder value anywhere please, give a reason to invest, not pathetic ramping
Saffron 1well was perforated at the top of the Lower Cruz formation. The reservoir was damaged due to the use of heavy mud. 500 barrels of fluid and oil flowed 7-8ft of perforation at the top of the Lower Cruz formation.. The Lower Cruz is a 300ft thick high quality reservoir sands which has yet to be fully tested and perforated. The 200-300 bopd flow rates are estimates and can be higher or lower depending on well bore integrity and reservoir condition and pressure.
PageofCups
How much of that was “fluid” and much of that was oil?
Don't know how much was oil. 40 degree API oil flowed to surface. There's videos of it. The rest was water and drill fluids. It was 500bfd. The formation was damaged due to the heavy mud needed due to extremely high pressure. Whether the pressure is from a larger reservoir or gas cap, I don't know. I guess Saffron 2 will give answers.
Starchild: you write very well and are clearly well-educated, however, I have come to the conclusion that YOU are either Simon or his prodigy, Etihad. Therefore, you are really not trustworthy pretending to be a star child and god forbid, anyone having the temerity to misname you, a Star fish. Enjoy your Directors salary but stop playing charades on here and trying to suck in more baby mugs like me. In which, by the way, you have succeeded because I have bought 410,000 of these Golden Tickets at 1.59p. Filtered. Good Riddance.
I thought I read it somewhere it was 90% water 10% oil.
Hopefully now the Placing is out of the way and with consolidation of the shares next week and Saffron 2 beginning the drill with results in the next 30-40 days, the emotion we have seen from a lot of posters will end and we can get on with proving up the 2P reserves and building production towards the targeted 2500bopd by year end. A number of drills can be drilled from the same pad at Saffron 2, so the wells can be in quick succession, allowing immediate production and cash generation.
We're using the same well pad as Columbus did on their discovery over a year ago, this time we're drilling slightly down dipped to tap into a larger more richer reservoir that'll bring in higher volume and pressures.
I really think that new onlookers don't realise the oil gas already been discovered and almost guaranteed high revenue returns.
We're on to a massive winner here I must say and I feel sorry for the 0.31 seller's as they've been robbed by the MMs and the deramper's.
Hope they take note.
Sunday start's the new beginning. Don't miss it.