Member Info for CERP-84

Was a mini DST performed? Or was all of the data captured from the wireline logs?

*he

Morning Egg, no Stewart left In July last year. It's a pity as I imagine in would have been heavily involved in S1....

Geoffrey Leid is still there from the CERP/LGO days, he has years of experience in T&T, Nathan Raynor and David Bond are also members of the Senior Management team with plenty of drilling experience. We know the oil is there at Saffron, the appraisal drill is using the same pad as the exploration drill.

Gary, I share many of your frustrations and have vented off on this BB on a few occasions,, particularly around the poor funding arrangements and CERP merger, but I'm not sure what you are hoping to gain by continually berating the BOD?. In my opinion we need to give them opportunity to implement their contingency plan in the event of a non commercial p1 result, which I'm sure they have. The new couple of months will be key. Here's hoping for some positive news.

Alb.

My buy this morning is also showing as a sell n LSE trades...

Thanks LTID, understood.

Morning Razorman,

Did you get a response to your query regarding why S2 will be an appraisal well rather than a production well?

Thanks,

Get a life u pr*ck.

Razorman, Valid point regarding the appraisal well. I'd be very interested to know this as well.

Let us know if you get a response.

Thanks,

trooper, I don't disagree, in which case now is a good time to buy in.

Look, if BPC were just an exploration company with confidence as low as it is following a disappointing p1 result I would expect this current sp. But the fact is we hold quantifiable assets, which if sold today would be way higher than the current MCap. The reason the SP has been suppressed for so long is due to the simple fact the the BOD raised funding through selling off shares to a financial institution who could give a toss about the O&G sector, all they want is a return on their outlay, once these have cleared the SP will reach its natural level. This is of course on the premise that they don't need to raise more cash to develop the assets.

We need an RNS soon to clarify the position. Until then it's a waiting game.

The other thing that cannot be ignored is the fact that the poo is rising quickly, once the world economy goes into overdrive when we finally get out of Covid I can see the price of oil going above $90. By year end if we hit our 2500 bopd target we will be looking at an sp in excess of 5p.

Aimho.

DYOR,

Shock trooper, I don't disagree, in which case now is a good time to buy in.

Look, if BPC were just an exploration company with confidence as low as it is following a disappointing p1 result I would expect this current sp. But the fact is we hold quantifiable assets, which if sold today would be way higher than the current MCap. The reason the SP has been suppressed for so long is due to the simple fact the the BOD raised funding through selling off shares to a financial institution who could give a toss about the O&G sector, all they want is a return on their outlay, once these have cleared the SP will reach its natural level. This is of course on the premise that they don't need to raise more cash to develop the assets.

We need an RNS soon to clarify the position. Until then it's a waiting game.

The other thing that cannot be ignored is the fact that the poo is rising quickly, once the world economy goes into overdrive when we finally get out of Covid I can see the price of oil going above $90. By year end if we hit our 2500 bopd target we will be looking at an sp in excess of 5p.

Aimho.

DYOR,

Dreamland, when making a decision on whether to invest in this company or not please research the facts carefully, a good starting point would be the BPC website and previous RNS's.

Beware, some posters on this BB will try to put off new investors as they are hoping for the SP to drop so that they can gain a lower entry point. Others such as myself obviously want the price to rise. Only take notice of the facts, if you do you will come to the right decision.

DYOR,

Good luck..

Where have you heard BPC is going bust? Far from it!

Announcement on spud date for Saffron 2 development well expected soon, targeting proven reserves. The reason the share price is subdued at the moment is due to the fact that a batch of shares are being offloaded by a finance institution, once these are cleared we can expect a sharp rise.

DYOR,

Atb.

In a note on Sunday, cited by Forexlive, the investment bank’s analysts forecast Brent Crude prices reaching the $70 a barrel mark during the second quarter of this year, and hitting $75 in the third quarter. Goldman Sachs is thus lifting its previous Q2 and Q3 forecasts by $10 per barrel.

“Faster re-balancing during what was expected to be the dark days of winter will be followed by a widening deficit this spring as the ramp-up in OPEC+ production lags our above-consensus demand recovery forecast,” said Goldman Sachs.

“We further believe that this additional rally will be supported by the current repositioning for a reflationary environment with investors turning to oil, buying a lagging real asset that benefits from a stimulus-driven recovery and has demonstrated an unmatched ability to hedge against inflation shocks,” the analysts noted.

Goldman expects the lower inventories will lead to an oil price rally sooner and at higher price levels.

Link to Full article posted by starchild earlier but thought it was worth re posting. O&G stocks are going to come back with a bang. https://oilprice.com/Energy/Energy-General/Goldman-Sachs-Sees-75-Oil-In-Q3-2021.html

Now that the dust has settled, as an ex-Cerp LTH I'm well and truly p#@ed off with this whole situation, we have been well and truly reamed to TD. How on earth did the Cerp bod ever think that the merger with BPC would be in their shareholders best interests?

Not only did we get shafted with the p#ss poor exchange rate, it's now apparent that with all the dilution even if we had found commercial quantities of hydrocarbons during the P1 drill we would only have been looking at an SP in the region of 12p anyway!

If Leo, Gordon Stein and Tony Hawkins had stuck with the original development plan for the SWP assets the Cerp SP would have reached the 9p equivalent in the medium term anyway without exposing us to this high level of risk, Saffron alone had an NPV of $90m based on a wti of $40. IMO the potential rewards on offer following dilution never justified the gamble.

I just hope the ex CERP bod look back on this and realise the damage they have caused. I doubt this will be the case however, as I'm sure every single one of them waddled off into the sunset with saddle bags full of cash and a golden handshake each from mr Potter and walked straight directorships at other O&G companies where some other mugs will keep them in the lifestyles they are accustomed too.

Rant over.

Atb.

No but I wish I had done!, I got some earlier at 0.50...

Hi Rob, buying any more shares in this until the company have confirmed the financial position post p1 drill is risky imo. It's entirely your decision of course and if the news is good on the next RNS you could see a jump to circa 1p but from what info we have available there seems to be a funding gap for capiral required for developing other assets.

All the best.

Thanks for your post Star, much appreciated.

'Translates to: It’s a brilliant bright moonlight night tonight. As sung by Harry Lauder......