Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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Harry: On the beachwear front, I am currently patenting a way to ensure plebs who don't practice social distancing on crowded beaches can't encroach on my space. It is a 4 meter circumference type sombrero made of plastic with a compartment on the top which holds a small ice box for beer and soft drinks. It can also be used as a floating device. I will send you a prototype if you could kindly send us a photo wearing it with you mankini for global advertising purposes. Perhaps we can do a JV/farm-in together to launch the product.
You too have a great day buddy. Enjoy the beach.
Starchild
xxx
Clarifications and thanks re the possible/probable news-flow post yesterday afternoon:
Armatrading: Thanks! WNZ….Your Morgan Stanley research note on Suriname reserves potential and the link you provided was very useful.
Obadhia: Thanks. Will do.
Tiburn: Your Saffron RNS (my points 21+22) appreciated and noted.
Bryn/Harry: I hope you are both right!
Irene: Thanks for the lovely compliment. I was so shocked by the first three words, I fell off my chair, bumped my head and didn’t read the rest of your post. And I still haven’t.
LGO-fan: Please refer below.
Clarifications
I was careful not to state that ALL expected news-flow in my list, whether BPC or CERP related, would all have a positive affect on the share price. I used the term ‘impact’ instead.
IMO Points 1-3, especially point 2 re force majeure are of very little consequence, if any. However they are listed in case very fussy future retail investors especially institutional ones wish for total clarification on these matters as a pre-req prior to investing.
Use of acronyms in future
I will attempt to be clearer in future similar posts subject to LSE’s post size constraints. Let’s remember BPC LTHs and even new visitors to this BB know ‘The spud’, ‘Pers-1’, ‘Perv-1’ relates to the Perseverance-1 Bahamas drill. Some BPC LTHs including myself still haven’t quite got our heads around the acronyms used by CERP LTHs and which country/opportunity it refers to. Frankly, if an RNS was issued re CERP points 21-24 today, I personally wouldn’t know YET, if it met expectations, exceeded them, or the news was bad. The ongoing assistance of regular CERP posters would be greatly appreciated. We still need to hold on to your apron strings for your valued opinions.
Thanks again. Have a great day.
Starchild
xxx
Hi Starchild,
Why is #2 a good thing? You would hope they start drilling dec/20-Mar/21. No?
Speaking of WNZ...:
https://oilnow.gy/featured/surinames-block-58-could-hold-6-5-billion-barrels-of-oil-morgan-stanley/
Starchild, good work. I would though, under the CERP related newsflow, suggest adding the awaited, revised STOIIP figure for WNZ which was due end of June, plus mention the extended well test re. field appraisal. On your ratings maybe a S/M!
Also appreciate your comment re points 1 and 3, thought these were put to bed satisfactorily.
Great work, as usual StarChild.
I very much enjoyed reading your summary of the situation and potential newsflow.
Between now and the Persv-1 spud result, news-flow will likely affect the SP: c25% from CERP news and c75% BPC’s. IMHO below marked ‘M’ could have a MAJOR impact to share price, ‘S’ could have SOME impact, and ‘H’ WILL have a HUGE impact.
Expected news-flow
1. ‘S’ Legacy licensing issues resolved with Bahamas Government
2. ‘S’ Bahamas Gov has accepted the Covid-19 pandemic constitutes a Force Majeure event and date extended.
3. ‘S’ Bahamas Gov has accept the few Environmental Approval issues outstanding and has fully signed off the spud.
4. ‘S’ Merger: Heritage and Staatsolie Suriname consent to the merger without exercising certain rights or objecting. [Refer to appendix 1 of merger prospectus RNS 11/6/20]
5. ‘H’ Funding updates, funding updates, funding updates.
6. ‘H Expert opinions from Proactive, Shore Capital and others on SP / Market-cap leading to spud, and if oil found..
7. ‘S’ Insurance taken for the Spud.
8. ‘H‘ ‘The Stena drill ship will leave port on dd/mm/yy’. Stena have committed to stating the date sometime between 1/9-31/10. (Incidentally, spud result envisioned 30-45 days after arrival onsite)
9. ‘S’ Total shares issued post-merger to be below 3.5b. This figure includes Gneiss £500k success fee unless paid in cash (point 11) and a slight increase on the 80m shares due to Trafalgar (re Lind).
Possible news-flow
10. ‘H’ Institutional investor(s) commitment. (Gneiss Energy advisors to BPC made £500k on 27/7/20 from the deal. They have many institutional connections. See https://gneiss.energy/about/ )
11. ’H’ joint Venture signed with Stena for BPC and CERP exploration. RNS can appear any time from 1/9/20 which is only c3 WEEKS away. At the time the 26/5 RNS was issued, a possible Stena JV was announced based on $10m for 10% farm-in or shares. It valued BPC at c3.2p DISCOUNTED despite the SP that day closing at 1.58p!
12. ‘H’ Major Oil company may want to JV. Must pay to play with a substantial contribution to actual c$100m (and theoretical c$500m) spent so far.
13. ‘H’ BPC plans to merge with, or acquire, little explorer(s)/producers in distress, using funds from points 10-12.
CERP related news flow (points 21-24, courtesy of LGO-fan. For expanded commentary see his BPC post 29/7)
20. ‘S’ Possible deal done with Predator (PRD) for up to $4m. (but see point 25)
21. ’M’ New Contract for Goudron with far better terms, allowing for more profitable BOPDs
22. ‘M’ Test results from S1 (MC), and turning this into a producer
23. ‘M’ Start drilling S2 ASAP
24. ‘S’ Successful CO2-project
25. ‘M’ After Trinidad 10/8/20 election result, all committed to lower the taxes on oil production from >$50/b to >$60/b threshold.
26. ‘S’ CERP 2019 accounts. Market likely already expects these to be down-beat, but H1 2020 update in same RNS, likely up-beat.
I excluded general news from above lists such as Covid-19, PoO, USD-GBP exchange rate. Let me know any proposed edits to the next version. All IMHO. DYOR.