Member Info for Gibbo1066

I heard that they've found Elvis riding Shergar through the streets of Atlantis... they were only looking for oil, talk about fortunate.

IMHO, way too late and why now all of sudden. Maybe raising a few flags for the aftermath of finding oil. As for the Govt opposing it now...What? Really? Pandering to the environmentalists. I cannot see the Bahamians looking this gift horse in the mouth. Yes, put all the relevant securities in place ( they have already to get the drill done ) They will then be able to mortgage their future payments if we find enough of the stuff. Oh and its closer to Cuba than the Bahamas... Smoke and mirrors. Last thing as I know I said I'd be back at the tail end of Jan ( way too exciting... but I am managing this with beer and wine ) I really cant see LK putting his weight behind this without a good chance of finding the stuff. Also, I think he'll angle to get T&T back and form a new company once the dust / oil ( dont want to tempt fate ) has settled. Genuinely very excited for Xmas 2020 after a really **** year business wise. Cheers

Whilst the additional shares are not ideal ( already mentioned this ) I would rather have money behind me in a deal than to be skint and selling from a position of weakness, trust me the deal you would achieve in this scenario would make us all ( including BigMJ ) weep. Remember we haven't found anything yet... not a drop of the black stuff. If, and I sincerely hope we do, its commercially viable we will all be singing the praises of our BOD. Its then onto Saffron 2 ( early quarter 1, 2021 ) Suriname, Uruguay... A tad more patience needed. Exciting isnt it...

Great chit chat, but until we know whats down there its all hypothetical. We have a strong chance of success, we also have some great potential from our old CERP assets too ( I'm looking forward to Saffron mk2 and a bit more meat on the bone from LK's we've found it comment ). Whilst I may not like the dilution, I can see what SP is doing. Always better to negotiate from a position of strength & money in the bank or access to it certainly helps. Were down to the last 1.5% of the time taken to get here, all will be revealed soon enough... I'm out till the end of Jan 21, play nicely with each other & have a great COVID Xmas and stay at home New Years! I'll be glad to see the back of 2020, we had so much hope for you.

excellent post, well researched & eloquently put.

Wow David, thats a fairly pessimistic view on this. I'm all for discussing the opposite side of the coin, but I cannot see the Bahamians turning down a huge windfall if they find oil. Yes, they may put fairly onerous stipulations in place which will drive up the cost of extraction, but to offer an alternative source of income for the native Bahamians thats 90 miles from their closest inhabited island would be difficult to ignore. I say lets see whats down there and go from there...

Does anyone have a guide on the value of the oil in the ground. If we say find 100m barrels at a good api, whats it worth? $ 1 per barrel, $ 2 per barrel? It would be a good back of the fag packet estimation for the value added to our share price.

Errr £4b.... not trillion! Would be nice though...

If & when we hit oil and it’s commercially viable ( 170m barrels + ) I doubt many will complain about this, moan a little maybe, but at least we’ll have the funds in place. Wise move in my opinion.

Wow, Ricardo is a passionate person, you cannot fault him for that. As for his sums and payments and even proximity to the Bahamas ( lived there in the 1980's ) he is a little off the mark. Drill site - 90 miles from the nearest inhabited island in the Bahamas... a great deal nearer to Cuba than the Bahamas. Even if its a 'paltry' $250m per year income, surely its better to take that than rely on the tourist trade for over 50% of your income. Diversification shields your from the vagaries of the tourist trade, I know as I contract to the Bahamas Tourist Authority on occasion. Lets hope the next few weeks will allay the Enviro's concerns and show the Bahamians that there are alternatives to just your natural beauty and thaey can be safely exploited. 8 mile island / rock has some interesting engineering based companies just out of Freeport targeting their severely depleted commercial trades, they look like a ghost town.

Yeah... less than 1k miles to go... 6 days & counting.

outta my league... I've topped out at 2.95m more than enough exposure to this weighted gamble. I do have my eye on an Aston DBX though... just in case. 7 days and counting, I'm not feeling the huge rise we've all been hoping for though. Maybe it the environmental aspect, maybe its the fiendishly clever COVID virus morphed from a post 10pm killer to a pre spud one? Who knows? only 8 sleeps & all will be revealed... I'm still hoping for a 4p SP spud and a rise towards February. As to the SP once we have the data, well that's just speculation. All I do know is that if we do find oil and in commercial quantities, this time Rodney... yeah, I know I'm repeating the joke.

and another day nearer to the end of a 10 year journey ( 4 months for me ex CERP ) and what we all hope for... the 3D seismics are correct, there is oil in them there hills ( albeit underwater ones ) and its in commercial quantities ( I think SP said above 170m and the figures work )... come on people, enjoy the ride.

Another 168 miles closer to the destination... whatever your take on this, it's going to be a hellova ride over the next few weeks. If we hit the motherload, this time next year Rodney...

I see we have the 'other side of the coin' Harry on board, but seem to be missing Irene... coincidence? I'm unable to find the results of the CPR we were due... something on Saffron 2... anything from Suriname... remember we are no longer a 1 trick pony. Its going to be a ride for the next few weeks, possibly upto 10 before we know how successful BPC's 10 year campaign to drill in the Bahamas has been. I am amazed that the clean up brigade are making such a fuss, last time I was there for the 2009 Miss Universe contest ( work... honestly ), whilst the beaches were reasonably clean, the rest of the island are typical Caribbean, they dont seem to care too much about litter / rubbish. The waterways around Freeport have been historically filled with all sorts, a typical out of sight out of mind attitude. I wholeheartedly agree with ensuring that all safety nets are put in place to cover every eventuality, the Bahamas needs money to survive just like the rest of us and it isnt going to get it all from tourism ( I have contracted sporadically for their Tourism department since the early 2000's ). They have a great deal of natural resources, but the black gold, if it were to be found in reasonable quantities, will add much needed funds / security for the islanders. For all our collective sakes, I hope they find some, in commercial quantities and we can all benefit from our long term investments ( 10 years CERP, less than 4 months BPC ). 70 days and counting, not even 2% of the total time its taken to get here.

Gulf of Mexico - close to where we are drilling

Ballers123, I'd be interested in talking to UK manufacturers as I buy thousands of masks. Do you have factory details you can share? Si

Hello Irene,

Potential, backed by cash should equal increase in oil recoveries. Good to see you only mentioned not questioned the 'we found it' statement.

Irene, like 99% of posters on these boards only offer their insight ( when qualified to go so... ie ex oil company execs etc etc. & even then it's only a personal opinion ) Perversely I actually like reading your messages, the overall underlying message of an opposite of opinion or request for evidence does soften some of the more enthusiastic of our share holders. I would value you insight if you were to quote from the only actual evidence we have from our board (s) the RNS's. Show me the opposite of the details quoted in these and perhaps you may add a little more weight to your comments. Otherwise you join the rest of us with an opinion.

Whilst we all have our eyes on the main prize, there are still some worthy mentions to be considered...

Signing of extension - September
SPT revision?
Drilling of 'we found it well'
Suriname

CERP may not have had the headline news that P1 will give, but all the ex CERP share holders know only too well the potential our company had given the right circumstances... oh so did our current BOD, hence the merger. Now that should fan a few flames...

Oh and finally... any of the 10p by Christmas people still out there? Lighthearted joke by the way... would be nice though.

Lest we forget, LK now has a large chunk of shares in BPC... love all the speculation, but that is all it is. We will know soon enough what's going on, I'm happy to wait & see if StarChild is right or whether the dark lord Irene has the rebellion on the run. It's all rather exciting quite frankly. Oh, don't forget we will have confirmation of the new Trinidadian tax rates this month... as alluded to in one of CERP's final RNS's...