Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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DesPrado
Not me.
RE: EggChaser1
Thanks for the explanation. I don't choose a particular style to post, I just post normally. I accept you find it one dimensional but I cannot change that or the views as have to suit your style.
I have no idea who those previous members you refer to are but I think directing all that stored negative energy that you had for them at me is uncalled for.
I am not a believer in placing fear into other investors as to....mind control them into buying or selling...??? But we are all free to believe in whatever we want, tin foil hats & all.
I will say that I have never once made a post telling or suggesting to buy or sell. All I have done is post my thoughts and every one is free to debate, correct, educate me or disagree with them.
I accept you have different opinions to me regarding P#1 but I don't want us to clash everytime when replying to the same post. Its ok if we disagree on P#1, our speculations & interpretations.
Whether I own shares or not or how many share I own or how long I've had them for I think is irrelevant to being allowed to created an account here or to post message. I feel as though your stance is "if you own shares in BPC then you should only post good things and not have a opinion which someone else may find negative, nor should you pose questions unless they are what you class as " good positive questions".
We all have a different level of understanding and information. One of the reasons I am here is to learn and hear others voice theirs.
Can we draw a line under this? If there is more things you want to clean up.. shoot.
ShouldveSold - right let’s square this up - the style in which you post appears and cones across as very one dimensional. Don’t forget we have had years with bashers manipulative methods and down right low life attempts in placing fear in the minds of investors. It also appears from the SP that the BODs have aided in that story, for now anyway.
Are you one? I’m not sure but if as you state you are asking two questions then we are aligned on one although the company have stated they would give monthly updates on stuff like production so I hope to see some detail there soon, but I do think it’s poor the company have not aligned with PRD regarding the news from IT yet.
In regard to changes of ownership of IT that would be uber price sensitive and I would hope would attract an RNS in its own right as it would be material to both companies. The fact you made the assumption or was asking the question made me question to your reasons for asking what I consider to be an obvious answer and saw it as yet another attempt to knock the company - remember we have had our fair share.
I am open minded but hopeful that the way in which I and other investors have interpreted the P1 RNS that there could be more to come from this story and be clear - selfishly for the sake of my investment.
Reminds me of Ross
RE: EggChaser1
Ah I see. So you wondered the same thing I did, but my thought was daft?
I'm getting a "you can't sit with us" vibe from you, which I'm guessing is rooted in the fact that I have differing opinions and interpretations to you.
I am trying to make sense of why PRD released a production increase RNS but BPC as the operator of those IT Wells did not. I guess I can't help if that amuses you.
I am regretful that my posts causes particular friction with you. As I have previously mentioned, I am only here for the engaging opinionated debates as it gives me a better balance of understanding.
I am sorry that you don't like the way I post.
:(
Maybe that means PRD are the operator of those CO² Wells.
What a daft throw away comment / question and basically sums up your style of posting... one example of not trusting the manipulative comments from someone who claims to hold shares...
Still keep up the good work - useful posts none the less.............
RE: EggChaser1
Just so I'm clear as to the "only one major question" you refer to. What question did I ask that you are answering?
I too questioned that when PRD announced their update on IT however you asked as per below if PRD had 100% ownership which I very much doubt could go unannounced by either BPC or PRD so whilst your point said one thing it actually contained only one major question which could never be the case hence my reply.
Maybe as per your avatar you should have sold and please take Zag with you.... lol
4. I've been keeping an eye on the Predator RNS and was surprised when they released production increase news but BPC didn't. Maybe that means PRD are the operator of those CO² Wells.
RE: EggChaser1
My point being; a 50% increase in production I consider market sensitive news, so remain surprised why BPC didn't release a production update RNS.
Are we ok?
You have got to laugh...
4. I've been keeping an eye on the Predator RNS and was surprised when they released production increase news but BPC didn't. Maybe that means PRD are the operator of those CO² Wells.
That would be market sensitive info which both companies would be at liberty to update the market and its shareholders of this material change.
RE: Starchild
Ah my 1. question was just to clear up whether you were saying BPC had more net cash before the merger than CERP. And if so was it due to cash generative income or placing new shares.
2. Was answered with 1. Lol
3. Yes this was when the price of oil feel through the floor.
My point was, a presumption; that due to the merger and I don't mean the 8weeks to complete. I meant the months of negotiations beforehand. I presumed that things were halted I.e capex whilst negotiations/due diligence was taken place.
4. I remember BPC declining so was confused as to no RNS on production increases.
Lol I wondered if you swore
Shouldvesold: I will attempt to answer your questions
1. BPC's net cash position includes capital raise, yet is is making a nice monthly profit (excluding capex). Capital raises are reflected in the number of shares, and as such makes no difference in my points below re current SP based on mcap.
2. Where did 2 go?!
3. Pre-merger announcement CERP had a problem: dwindling production because the wells needed maintaining. They had very little surplus cash to invest in all the stuff BPC is planning to do 1st qtr. I do not understand your point on delayed merger/broker fees. There is a set process to follow when a merger takes place and it took approx 8 weeks.
4. PRD offered to buy the JV wells in Trinidad from CERP bang in the middle of the merger. BPC/CERP declined. There has been no RNS since from BPC suggesting they have sold these assets to PRD.
Have a great day
Starchild
Ps: My post yesterday had a word auto censored by LSE. The word is the one used for a female dog. I don't know how vets can use similar platforms to discuss dog health with each other!
RE: Starchild
1. Is BPC's greater net cash due to position cash generative operations or capital raises from share placings/loans?
3. I made the presumption that CERP halted all testing and drilling due to the merger. I didn't understand at the time why they didn't finish testing all the zones in the Saffron discovery, but once the merger was announced, it made sense. Maybe because it would delay the merger and increase broker fees? Feel free to correct me on that.
4. I've been keeping an eye on the Predator RNS and was surprised when they released production increase news but BPC didn't. Maybe that means PRD are the operator of those CO² Wells.
(correction to my previous post).... BPC’s market cap today is £25m. BPC/CERP pre-merger announcement mcap in May/June 2020 was £25m (NOT August). In addition, BPC paid off the £2m Lind facility.
I also forgot to add at the end of the post, that I have done extensive share price modelling on various permutations, but will await for news first.
GLA
Starchild
BPC’s market cap today is £25m. BPC/CERP merger mcap in August 2020 was £25m. in addition, BPC paid off the £2m Lind facility.
Additional facts
1. BPC has more net cash in the bank today compared to CERP. I estimate BPC has $6m net today after paying all its Bahamas Percy-1 bills. CERP had $2m on 31/12/19 before facing the Covid-19 storm in April and the destruction of oil demand.
2. BPC has access to additional funds to develop ex-CERP assets. CERP did not.
3. BPC is on track to spud/test key ex-CERP assets within weeks. CERP did not.
4. The PRD Trinidad Co2 testing, which BPC can indirectly benefit from, proved successful.
5. The PRD share price has almost tripled in the last few weeks. Some, but not most of this, can be attributed point 4..
6. BPC has increased current capacity peak to 500b/day in Dec 2020 and expects further increases self-funded from profits. CERP had no surplus cash to maintain wells. Productivity dropped from 1000+ b/day in 2018 to c450b/day in 2020.
7. Trinidad Gov’s special petroleum tax @50% was in-force at PoO $50/b. Since 1/1/21 it is $75/b WTI. Very good for BPC.
8. PoO is heading upwards (Brent >$71/b overnight) and economists believe it could hit $100/b in 2022/23.
9. A recent CPR has increased BPC’s Trinidad 2P reserves by 30%. 1.3mboe x $40/b NPV10 net profit is potentially worth more than BPC’s market cap today.
10. BPC believes it will reach 2500b/day production by year end. To-date the BPC BoD has reached objectives under its control.
11. If BPC reaches 2500b/day, net profit in 2022 onwards (excluding capex and assuming c$4m for all operating costs) @$60 PoO will be c$30m/year. Pure cash for 1 year is approx BPC's Mcap today.
12. In September 2019, CERP hit £50m market cap (5p SP with 1B shares), when WTI PoO was $55/b (Sources: see charts https://wallmine.com/lse/cerp and https://www.investing.com/commodities/crude-oil )
13. Today, BPC has something CERP did not. A potential fortune in Bahamas licensed acreage despite no commercial find yet and is seeking a farm-in because it has discovered a working petroleum system.
So….. only based on the historic CERP share price and only for points 1-12 above, I believe BPC’s current market cap/SP is seriously undervalued. The market is still nervous due to the Percy-1 result and weary to put a toe in the water despite point 13 having massive consequences to the SP. But this could change suddenly.
IMO the SP should be at least 1p+ (£50m+ Market cap) purely on ex-CERP assets and possibly more due to BPC’s ex-CERP developments. And this excludes Bahamas. I believe news is imminent on various fronts.
IMHO. DYOR. GLA.
Starchild
https://www.lse.co.uk/profiles/starchild/