Member Info for in4cedros

rossannan - I’m no apologist for Koot but I applaud that he made a monkey out of you and your trolling campaign and I don’t believe that aspect was detrimental to shareholders.

I’m pleased I’ve been able to remind people about your MO especially the BPC shareholders who were not familiar with your style of trolling !

Bluff - I posted that the merger required CERP shareholders to reassess their risk, those not comfortable with the new scenario had the option to exit at that time - it was much discussed on here - even rossannan was posting he was in for the pre-drill excitement but would be selling before the result as he didn’t want to assume the drilling risk.

rossannan - why you would run a trolling campaign suggesting Koot should dishonour his pledge believing that was doing ‘ the right thing ‘ ?

That the company would need capital, irrespective of the result of the drill, was obvious to most observers, waiting until after the drill could have been advantageous, as it was, much as it upset the trolls, the Sp more than doubled post drill rossannan- wasn’t that the time you disappeared from the board !

Koot could have considered refinancing post drill but he decided, in the post COVID-19 period that the merger was a better option. CERP shareholders not comfortable with the risk profile could have exited at that time. Those happy to run the risk stayed on - you posted that you were in at one stage rossannan!

The fact that P1 wasn’t a gusher wasn’t Koot’s fault although it is easy, with the benefit of hindsight to demonise him for it - especially as he discredited the trolls who built in pledge breaking as part of their scenario!

Chesh - rossannan has either forgotten he had me on filter or is getting pretty desperate for conversation!

The thread on which he posted has been moderated but in case you missed my post I included a big shout out for you as being the first to expose his peculiar charitable cash for silence stunt!

POC - I enjoy your posts but i suspect a prospective partner may wish to play a long game and perhaps bid, low ball, after 12months. Take Over Rules would allow that then and it would then be down to shareholders to accept or reject in the knowledge that going it alone could well be unacceptably dilutive and painful in time value.

Many thanks for link - I suspect Fred took inspiration from my post 06/04/2021 for his latest PR stance:-

‘ Much better for any suitor to wait in the wings for say 12 months, during which time BPC will be obliged to pay for new licenses and get a firmer political commitment from Bahamas Government to avoid further opportunistic legal action.’

Thanks for posting the link to Tribune article - I suspect Fred read my post 06/04/2021 for inspiration of his latest PR stance :-

‘ Much better for any suitor to wait in the wings for say 12 months, during which time BPC will be obligated to pay for new licenses and get a firmer political commitment from Bahamas Government to avoid further opportunistic legal action’ .

rossannan - has it ever occurred to you that your posting style of saturation multiple daily postings attempting to depress the SP with a theory which turned out to be wrong might have something to do with the notion that you may not be well liked. Add to that the stunt where you agreed not to post in return for cash donations and the picture becomes clearer.

rossannan - still claiming that posting / share promotion is not going to affect the outcome - did you learn that from your close to a year trolling of CERP, sometimes multiple times daily telling us, wrongly, that a Placing was needed prior to the drill !

GarryGraham - may I recommend you research the position regarding takeover premium - unlikely BOD would be prepared to agree takeover at that level especially as Star believes the past exploration costs are likely to be substantially recouped.

Much better for any suitor to wait in the wings for say 12 months, during which time BPC will be obliged to pay for new licenses and get a firmer political commitment from Bahamas Government regarding to avoid further opportunistic legal action. Takeover premium based on SP over previous 12 months. In the meantime they can observe with interest development of ex-CERP assets.

Starchild - BTW - Saffron 2 cost to be $3million in latest BPC statement- possible extra cost to be immediate producer well ?

Nah rossannan I agree with Vmax you are nasty! - your record speaks volumes - you could have just posted every few weeks that in your opinion LK needed a Placing to drill Saffron - why saturate the board with multiple daily posting of your opinion ( which turned out to be wrong ! ) - why troll so irritatingly that readers paid cash, at your invitation, for you to stop posting for a specified period ?

Not my idea of an altruistic protector of PIs !

Chesh - have a good Easter! It’s said that absence makes the heart grow fonder but I haven’t reached that stage with our mutual friend - I’m still toasting absent friends!

ShouldveSold - help me out - what was the point of your posts on BOD remuneration?

rossannan - I share your enthusiasm for enthusiasm for challenging the ‘ rampy consensus’ but in your case the cure is often worse than the disease !

Some may be unaware that rossannan told us on the CERP board that despite Koot advising Saffron 1 would be drilled without a Placing CERP needed one ! Fine if he chipped in with his opinion occasionally but NO - rossannan launched a campaign involving, often, multiple daily posting, about the impending Placing. When he ran out of debating partners, many he filtered, he latched on to any new posters, attempting to sap energy and enthusiasm! This went on for close to a YEAR and included the legendary stunt where he offered not to post for a specified time in return for CASH donations!

Cometh the day of judgment it was Koot 1 - rossannan O - the SP more than doubled and rossannan exited stage left with tail between legs, without an apology- he failed but it cost him nothing - perhaps that’s why trolling is so popular!

BTW ShouldveSold I’m not anti - troll but trolling is an art form and I’m still learning!

rossannan - too many people, like you , challenge the ‘ rampy consensus ‘ to advance their own agenda - I cite you telling CERP shareholders that a Placing was needed to drill Saffron 1 when LK told shareholders it wasn’t!

If you mentioned it at appropriate times, as your opinion, that would have been fair comment but you saturated the board with it for close to a year, often multiple timed daily, latching on to any new board contributor, attempting to sap energy and enthusiasm - then you were proved wrong and slunk off tail between legs as the SP more than doubled- what a player ! Your cash request in return for not posting stunt is also legendary !

ShouldveSold - compare BPC , pre CERP, with any company that actually produces anything and I’d agree that remuneration as % of sales will generate further questions from those that are not familiar with the BPC history.

Choose a job you love and you will never have to work a day of your life - famous quote!

ShouldveSold - RNS dated 03/06/2019 - available from Investegate and other good archive sites!

ShouldveSold - I didn’t plan a chapter in my book for management remuneration so I had to view last CERP accounts for y/ e 31/12/2018 - shows Leo Koot director fees £150,000 plus share settled payments £150,000 ( total £336,000 including Pension /Medical & Employees NIC ) .

So , clearly a big surprise for you!

I haven’t followed BPC closely so I’m happy to be corrected but it’s my understanding they produced not one drop of oil before they merged with CERP but they were pursuing a plan to drill in Bahamas territory which took more than a decade. It would have been great for shareholders if the management team worked for no salary over that period and just accepted post drill share options but many would question the fairness of such a deal - presumably shareholders were happy, over the years, ( maybe not Arry! ) as they were not compelled to accept !

ShouldveSold - why are you surprised? I’m starting to feel like Bruce on Play Your Cards Right - surprised not higher or lower ?

Please give your reason for your surprise!