Member Info for IBLONDON

Hi Molokai, no, BPC is my only oil stock holding. Why, similar arrangements?

I guess the Trinidad production is the collateral for the CLN in a worst case scenario for PS1.

Looks Like Krapp has got it’s toolstring in a twist.

Hello Molokai. I think Sid is a ghost in the machine, not the real Sid.

Irene, I’ll bet you your BPC shares.

There are people in the Bahamas against oil drilling in their waters. But not the majority and successive governments are not. BPC have a deal which is enforceable via the Privy Council. The Nassau Guardian is often factually incorrect and not to be relied on for research.

ZagEGypt, but the US economy grew much more under Clinton and Obama than under Trump, check the figures. And they didn’t juice up the markets to the extent that there will be an inevitable correction or years of stagnation to come saddled with debt. I’d much rather work with a president that does nothing than a bankrupt contractor still waiting to get paid by Trump. If this is a partisan discussion I’ll leave it right there.

I don’t recall Clinton or Obama destroying business. Quite the opposite in fact

A Biden win could have a positive effect if the shale producers are no longer supported by government.

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.

Just soak up the slack guys. All it needs is 3500 investors to hold 1 million shares each and this wil rocket.

More comments than trades. Just saying.

Those against the merger and who intend to vote no should think very carefully. I get it that some were intending to ride the wave as P1 approached, maybe derisk or leave it all in for the possibility of a big pay day. That option is now gone, whether the merger goes ahead or not. A no vote will be damaging, most likely those that are backing BPC want to spread their risk and not throw millions at a 20% chance of success. Realistically, it’s not even as good as a red or black bet on a roulette wheel. We are where we are and a no vote may well unravel the funding strategy and funding in place and not only will the merger not go ahead but P1 will not be drilled by BPC. It’s still a high high reward play but with a bit more certainty to get financing on board.

A significant development, the merger is making BPC attractive to pension funds.

What missing link are you guys waiting for? The merger has created an oil producing company with huge potential. It will generate cash, expanded footprint across the Caribbean and Atlantic coast and can easily become a mid cap in less that 2 years. Majors, as has proved, are not in the business of playing Perseverance roulette, they want credible alternatives to pumping millions in to one well which could prove to be a duster. Those alternatives are now in place, pending the shareholders vote.

A company`s directors have a fiduciary duty to their shareholders. They are fulfilling their roles in making sure that BPC lives to fight another day if Perseverance comes up dry. If it`s a success then it will generate cash to invest in a similar play in Uruguay as well as increase the share value.

There is still a huge upside and a limited, known, downside.

I`m quite happy with the status quo and see it play out in the coming months.

Good luck all.

And after the loons currently on the BPC and CERP boards have killed each other the merger can go through.

And after the loons currently on the BPC and CERP boards have killed each other the merger can go through.

Prospect, that is assuming that CERP has the means to develop their assets, which they don`t, hence the merger.

DXB1, do you think BPS`s institutional investors/ backers would agree to fund P1 without being aware of recent events?

Alternative funding as opposed to a major farm in was always a consideration, i know this as i had a conversation as such with Bill Schrader in London a few years ago after a shareholders presentation. They have never said it`s an exciting binary bet and if P1 fails we go bust. They have in fact said their objective is to create shareholder value. If anyone doesn`t like it they should sell rather than vote against and drag everyone else with them down the plughole. A no vote will likely see P1 not get drilled, institutional investors must already be on board with the current state of play. Whining about it because of your own understanding and wish to gamble all or nothing is getting boring and repetitive.