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Boringly predictable, answer the question with another question, what a surprise.
You know exactly the point I was making so don't play games. Oh sorry, that's the only reason you are here.
only when she goes quiet IBLONDON...........!
which, as you'll find out, is rare.......... :()
All the best............! wot no brackets........
I’m sure IreneKrapp is invested which is why she is here. Unless she’s a sandwich short of a picnic. Pulling the pigtails of those who bite loses its appeal after a while.
sensible...
JBT I’ve filtered her(?) a long time ago....
Irene, what a complete waste of space you are.
Any chance of you posting a personal view on the investment case for BPC, even if that is negative? or is that beyond you, perhaps you just like sniping from the sidelines. If you are not invested here why are you here, genuine question are you able to give a genuine answer or wouldn't that suit your agenda.
Great post Jim.
I thought they were underselling Saffron potential personally - they quote expected mid case 4000 bopd from 20 wells based on what they know now P50, pre any further exploration towards P10 confidence - there should be a lot more upside based on the reserves evaluated so far.
They also make a lot of promises on how they can enhance production overall in Trinidad , in 6 months time we shall see - but the oil is found, appraisal continues.
This could be a good news feed as bopd increases each month as expected and revenue comes in, give them a chance to prove what they say.
Agree with JTK. I bought 97000 at 11.23.31 @2.089 to round up my free “CERP Arbitrage” shares. Happy to await further news in next 3 months.
Very good post Jim like you I am looking forward to P1 with Stena Drillship could even exceed our expectations no one knows for sure...
Linton: how does GS get away with most of his posts? He would have banned here for less. All said and done a few of his posts when serious are informative.
Star - That’s just what I have been thinking the last few days! The lack of admin on ADVFN is really poor and it’s a shambles these days. I’ll certainly try and post here more often when I get the time.
Jim - I believe that’s why Koot’s was keen to merge with bpc, they know a farm-in is highly likely / agreed in principle and the cash can be deployed elsewhere.
Hi Petro are you still in Matd?
It does make you think that they know a farm-in for P#1 is highly likely.
Linton: why don't you guys on ADVN come over here more often. It avoids having to deal with one or two folks over there. I found some of your posts very useful
:-)
I hope its Exxon
Or UKOG...
Lets hope it's not 88e
Under the title of "EXPLORATION SUCCESS - END 2021 GOALS" Linton78..........
"New Business Secure one other comparable high-impact exploration project"
All the best (yep... I see it, here's hoping :)
Trek - At the end of today's presentation BPC stated they were looking for one more high impact project.
I thought it was a pretty honest update.
The obvious concern is more around finance from 2500 bopd for $15m pa revenue. Which the BoD believe will be sufficient to cover costs.
I think that’s tight, due to the macro and well integrity. Furthermore #P1 may require additional CAPEX, for side track or 2nd drill.
Personally I’d rather they offloaded some of the CERP assets. Drilled #p1 fully funded and then used revs from that to expand the BH campaign. I couldn’t care less about T&T or Venezuela or even buying other far a field assets like so many small E&P companies end up doing to hide realities!
100% focus on #P1 even sacrificing a few pawns should be the name of the game. Then the herd will arrive!
My view from the sidelines.
ATB
Trek
It's quite embarrassing reading some of the posts today but it doesn't surprise, I've been here long enough now to know better. I don't know what's worse, the crying that a share price has gone down (shock!, horror!) or the vomit inducing ramping and blind faith from those with low IQ. I seem to recall one post where someone said that 2500 bopd may make us more attractive to a farm-in, if this was you please stop investing and wasting your hard earned money. Get a paper round or something.
Todays RNS is good, very good in fact. We now know we have until at least April to drill P#1 which although the extension was expected, this is a huge confirmatory boost and I am very pleased by this. There has been curve ball after curve ball on this journey and anything that is sat with the Bahamas government always has a potential for another curve ball so to now know everything is within BPC's gift is very satisfying, BPC will drill this well in Q1 2021 in my opinion there is no doubt.
I was a vocal opponent of the merger and like I quite rightly pointed out in my 2nd August post, the merged company will not be greater than the sum of it's parts, I can't help but feel 100% vindicated here. I was right, simple. However, I do get it. My big opposition was to the timing and value of the deal and not necessarily to CERP and this is my next point.
The boards reason to buy CERP was to leverage 'something', as opposed to being able to leverage BPC's nothing. I believe we paid too high a price for that 'something' but if they can now convince someone who has a pot of money to part with their pot based against a forward looking plan like the one put out today, of which they can judge the credibility of, then we may get better terms than the current CLN's, or the current CLN's may get revised more in our favour if we get competition? I said in one of my first posts about the merger, if we can come in at roughly the same issued share capital as was predicted at the AGM which authorised the 1.8bn issue authority then it's about ok.
Let's be absolutely clear, there is absolutely no need for any market placing in the near future. We have >$10m cash in the bank, we have our Bahamian Family Office sugar daddy and with the insurance policy in place we are virtually over the line on the conditions precedent for the CLN if it's needed. There will be no placing at these low levels.
I am very happy and confident after todays RNS and genuinely look forward to the next 4 months where we will see a positive change. I have my disgruntlements about some of our BoD's energy and enthusiasm levels but I don't doubt their competence to deliver and they will deliver this well.
I have even upped my 'Opinion' to Buy (from Hold) at these low 2p values as I think it offers good value from here.