Member Info for in4cedros

Druid - thanks for that - I’d like to know where LLL found that statement, just out of interest.

It refers to a baseline, who set the baseline and what was the context - always more questions!

Druid - I’ll have to let LLL answer for her previous postings as I don’t recall seeing that.

IMO I’d put Goudron at > 80% of current production - the Trinidad MEEI publication lists IPSC separately and BPC are responsible for most of it, which is currently showing a downward trend.

LayLadyLay - I’ve yet to see details of the Enhanced PSC for Goudron - it would, indeed, be interesting for shareholders to be advised of potential capital costs associated with this field, as the current main producer.

Minimum Work Obligations are a very common feature of these deals so I would be very surprised if there were not significant development obligations contained therein!

The South Erin field had MWO which Koot was addressing, at least by discussing need for a drill in 2021, at cost of circa $1 million but I haven’t seen this mentioned in the capital shopping list in association with the latest OO to shareholders.

rossannan - only you know why you ran a campaign, extending over many months, sometimes involving multiple daily posting, attempting to persuade readers that, on the issue of drilling Saffron without a Placing they should not rely on Koot’s statement!

You clearly know your posts have traction as you invited readers to pay cash to stop you posting for a period !

Point is, based on balance of probabilities, you were just trolling to get a lower SP !

Antha et al - I have always posted circa 95% water cut as that’s unlikely to be seen as ramping, based on the parameters in the RNS.

IMO if Saffron 1 produced NIL it wouldn’t change the case for Saffron 2 ! The drillers of Saffron 1 offered to drill Saffron 2 FOR FREE, in return for a SHARE OF PRODUCTION. As such a drill could cost in the region of $2 million that indicates a high level of confidence in the outcome. That offer is probably more meaningful than BPC projected figures or any negative troll numbers.

DYOR - Saffron 2 could be a duster or it could exceed expectations- didn’t Dickens write a book about that?

rossannan - most people associate a Placing with a reduced SP - certainly that has been the usual experience for CERP shareholders over the years - BPC shareholders have also experienced that(I was a tad surprised that the recent Placing post closure of the OO was got away at the OO price but some got 4 year warrants as sweetener!) .

Surely you are not attempting to suggest you were unaware of the likely effect a Placing would have on the SP. The fact that most didn’t believe your tosh is by the way - perhaps they put more store on what Koot said, on that specific subject, than what you said, from your armchair at home!

I told you before I don’t post my trading position on bulletin boards - why would I change my stance to gratify YOU!

rossannan - you ran a relentless saturation campaign to warn investors about a Placing before the drilling of Saffron 1 ( despite Koot assuring otherwise ) - as that didn’t happen would YOU have compensated any shareholders that sold at a loss because they were influenced by your posts?

Druid - the driller offered it to Koot - he chose not to accept it. When BPC took over they decided to keep 100% ownership as presumably they thought that would be better for BPC shareholders.

Most people are clueless about the prospects for Saffron - the existence of the offer suggests potential is good - but don’t take my steer as I’m only an amateur!

Linton - yes they were - 500 barrels of fluid per day of which around 5% was oil. They have sold transported oil from it to Heritage. I’ve no idea if any is still flowing but even if it’s nil it doesn’t alter the case for Saffron 2 which is targeting a deeper trap of oil where the pressure was so great they had to abandon prematurely because they couldn’t overcome that issue at the time.Subsequently drillers of Saffron 1 offered to drill Saffron 2 FOR FREE, subject to a SHARE in PRODUCTION - that suggests a deep level of confidence as the drill would cost circa $ 2 million but everyone has to make their own mind up on the quality of the assets!

micktrick - plenty of trolling avenues to explore but I really can’t see why you’d raise the Inniss - Trinity field - it’s a CERP asset which may be attractive enough to Predator to make another lump sum bid in the future.

Koot had no published plans to develop that field with CO2 EOR and Predator were much more pro-active, cornering the market for CO2 supplies in Trinidad and importantly being in the forefront of the infrastructure planning and development. They offered and agreed the deal with FRAM before Koot took it over so Koot was contractually bound to honour it - although he did, eventually, lovingly embrace it .

The project with PRD seems to be progressing well in line with expectations. If your point is that on Goudron production has slipped that appears to be the case from viewing MEEI Trinidad figures.

I don’t believe that BPC or Koot were very excited about Goudron - most hopes are on Saffron 2 and subsequent development of SWP - for the avoidance of doubt Saffron 2 is not a guaranteed winner but the potential is very much worth pursuing.

PaperHands - hear what you say about professional advice but some on here could do worse than spend a few minutes on the Government sponsored Money Advice website - it would improve comprehension of risk/ reward concept which may help to limit over exposure.

rossannan - I never reveal details of my trading on bulletin boards - no intention of changing my stance for you rossannan!

From CERP rns 13/07/2018 - ‘The South Erin field is governed by a Farmout Agreement with Petrotrin that expires in December 2021 and the Compsny would expect the Farmout Agreement to be extended at that time. The Agreement has an outstanding MWO of 5 wells.’

Koot was mindful of these obligations and there was a plan for at least one drill this year, which would have shown that there was some regard for compliance with license terms. I see no mention of it in the latest BPC fund raising plans - deliberate omission?

Existing company - www.chaenergy.ca - explores for oil and natural gas. The Company operates offshore Trinidad and Tobago and offshore Nova Scotia, Canada.

Wonder if the existing company is happy with BPC new name choice - they won’t be if they start getting their bills !

SVS - I’m not a fan of the rossannan MO but he is one of the more plausible trolls and keeps me interested.

He regularly filters those that don’t agree with him, me included, so I don’t expect this intercourse to last much longer - apologies to readers who’ve only had to endure it recently!

rossannan - just point me to the post where you stated that your attitude had changed and you were no longer calling for Koot to break his pledge to shareholders to have a pre drill Placing.

rossannan - we are so used to you explaining your position in mind numbing detail that the idea you just ‘ gave up ‘ on CERP and this meant you were no longer calling for a pre drill Placing wasn’t clear !

I’m rather shocked that you as a non shareholder taking so much interest in CERP for so long would just ‘ give up ‘ - what sort of self respecting troll does that ?

that had you and other trolls heading for the hills in short order !

rossannan - I’m confident the cash position of the company had no impact on the way the drilling of Saffron 1 was conducted . Koot needed to raise cash thereafter, whatever the result - if the result had been even better the SP rebound would have surpassed the more than doubling performance that had your day other trolls heading for the hills in short order !

Clearly a Placing when the SP was more than 2p post drill would have been preferable to your sub 1p urging pre-drill ( as a non - shareholding troll ! ) .