Member Info for in4cedros

Pete The Trader - there was a poster on here Irene Krapp who predicted Saffron 1 drill would be NIL PRODUCTION- she got it badly wrong and the SP doubled so perhaps being counter intuitive to any advice she gives might be a strategy LOL !

Bespoke - have a look at Nathan’s last video, I noticed a slide on cost of Saffron 2 - I believe it was $2.4 million but that’s from memory so please check it - it’s possible reduced costs will apply in future particularly if drilling from same pad, octopus style but I’ve not seen anything specific.

Egg - just seen your post - others have attempted to calculate, for example, how much cash is due to LO and I don’t have a problem with people speculating but BPC will be aware of the figure as they must have had monitoring in place for sales of the shares.

I believe it’s in shareholders interest to publish that data ASAP ( the final cash bill ) and at the same time they can reassure the market about how much cash is left to finance expenditure on ex-CERP assets . It would also be helpful if they could detail all the separate loans and peculiar liabilities attaching thereto that may impact on resources, including any other guaranteed profits to lenders.

If more cash is to be raised it should be done sooner rather than later - delay just leaves openings for trolls to give this the Chinese water treatment, the trolls haven’t even got organised properly yet, some, not mentioning names, we’ve yet to hear from LOL!

Starchild - as an ex - CERP man I don’t claim knowledge of oil exploration in Bahamas but what is clear to me is that such a venture is hugely expensive and politically sensitive. You may well say ‘ tell us something we don’t know - grow a pair and enjoy the ride on the way to P-2 or invest elsewhere! ‘ What concerns me most here is the business plan for the future - people are still talking about P-2 with massive cost and very constricted time frame.

We’ve seen that this BOD will do almost anything to obtain finance - it was imperative to drill P-1 within the time frame but the LO finance was absolutely desperate stuff!

There will be people who still believe in the dream of Bahamas drilling making them a fortune and if they can come up with shareholder funds of say $20/25 million through an open offer to shareholders now that would be a reasonable proposition - we’ve seen what inching towards target capital provision can do - outrageous dilution !

If they can’t come up with that level of capital BOD should try and sell anything valuable re Bahamas drilling pronto and exit making it clear they won’t be returning. Why - because all the talk around ex-CERP assets is to make $ to help fund P-2 drill/ development - which we know is hugely high risk. The ex-CERP assets are now owned br BPC and they are free to milk them for their own priorities but I can see a scenario where those assets perform well and all benefits are swallowed up for P-2 - and then, sadly, lost again! Is this risk what most shareholders want - genuine question?

My speculative answer to the question is NO - if the answer was yes they would have been able to raise much more historically from equity than they did - much of the raising was from Placing where speculators made a turn at the expense of dilution .

The BOD are being paid to pursue the Bahamas drill objective and will continue that until shareholders encourage them to STOP and create a revised focus with the assets that remain.

Stach/Druid /Davo - I noticed in the last presentation that a figure of over $2 million had been specified for Saffron 2 and that BOD had decided to reject the free drill offer ( with production sharing ) in favour of 100% ownership.

It would be useful for the BOD to reassure the market that they have the cash to proceed with this venture in the timeframe initially discussed otherwise trolls will be in here quickly gently drawing attention to funding needs and speculating what price the next Placing ! BPC borrowing arrangements and small print seem natural bedfellows- one has to be careful about the bedbugs hiding away waiting for opportunities to cause havoc!

Bamps - It’s clear the merger wasn’t beneficial for CERP but IF Saffron potential is achieved there is still value for shareholders there - my current concern is uncertainty regarding potential liabilities arising from complex financing.

All the best !

Thebhoys - Irene Krapp predicted NIL PRODUCTION from Saffron and was wrong.

Everyone knew there would be NIL PRODUCTION from P-1 because of the terms of the drill but the result of the exploration was nonetheless very disappointing - hence the SP reduction !

Krapper stated 25/01 15:32 ‘ Where have I stated that I’m negative on P-1 ‘ .

I’m naturally disappointed for shareholders and there are facts yet to be discovered but I’m pleased I’m able to clarify this issue, although I’m happy to accept Krapper is irrelevant to the future of this company!

CoolMax - do you believe the SP loss would have been less if CERP had not been acquired?

Krapper - 2 more signs are increased activity from desperate trolls on here - Krapper and prossie!

Why oh why are they here? - answers on a postcard - trending is they have lost cash on previous ventures and are envious others can afford to take the risk here !

ShareScare - natural to make assumptions about why Krapper posts - she never answers that question except to deflect by suggesting questioner does more research - obviously likes the attention but you are probably correct about a historic bad experience with CERP !

HeresHopin - your parameters suit only your low grade troll - don’t limit yourself - leave open the option to claim you were once a shareholder, or still have remnants of a larger holding, that gives you moral Carte Blanche to really lay into management several times a day without the usual brick bats being thrown - not mentioning any names - know what I mean!

Irene - I'm quite comfortable with in4cedros - I've explained the relevance - clearly only a geographically challenged moron would struggle with it - no desire for you to change your moniker it's the only thing that can consistently be relied upon to reflect the quality of the post !

IreneKrapp - WHY? - Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz!

IreneKrapp - Who cares?

Irene - I believe Abe Lincoln had someone like you in mind when he said ' Better to remain silent and be thought a fool than to speak and to remove all doubt ' !

You seem very confused about the history of this company so I'm going to put you straight- the leases to ' Cedros ' were initially acquired under Ritson but when Leo and Tony studied the small print they realised it hadn't been optimised hence the renegotiated terms RNS 19/03/2018 :-

' The Company has successfully restructured the BOLT transaction, on materially improved terms for the Company , and has entered into an agreement for Lease with Singh's ( Cedros) Estates Limited ( '' Singh Estates '' ) to gain long term access to the South West Peninsula for oil and gas operations, including the Bonasse oilfield.'

Krapper note the reference to CEDROS and SOUTH WEST PENINSULA - anyone with access to the Internet can google the area and see that CEDROS is THE SOUTH WEST PENINSULA!

With ignorance like yours I'm not surprised you couldn't see the association made by the BPC BOD and myself to the nearby offshore Soldado fields, one of which has produced an average of 15,000 bopd ove 50 years Krapper !

BTW In4SWP is already taken but in4WegNaarZee may well still be available!

Starchild - thanks for clarifying that and for the contributions of others that stimulated this conclusion . Just shows that constructive education can take place here particularly when individuals quote their sources - unlike moron posters such as Irene !

Bones - i bet you are also up there with the best of them for sucking air between your teeth when giving quotes !

Gibbo1066 - are you plugging my book or do you know of someone else who's got a draft ready - mine includes trolls cos I spend a lot of time talking to them - I've just read that post about Prossie allegedly plugging 88e and then doing the rossannan walk of shame for some months before popping up again as if nothing's happened - you'd think they'd at least get a new moniker !

Hardly a mention for Irene though reflecting not the volume of her posting but the lack of content - she'll get a mention for the Saffron sweepstake - the only time head above the parapet - ended up shooting herself in the foot LOL!

Gibbo1066 - are you plugging my book or do you know of someone else who's got a draft ready - mine includes trolls cos I spend a lot of time talking to them - I've just read that post about Prossie allegedly plugging 88e and then doing the rossannan walk of shame for some months before popping up again as if nothing's happened - you'd think they'd at least get a new moniker !

Hardly a mention for Irene though reflecting not the volume of her posting but the lack of content - she'll get a mention for the Saffron sweepstake - the only time head above the parapet - ended up shooting herself in the foot LOL!

Irene - talking of morons - why would someone waste their life trolling a chat room attempting to persuade people you don't know not to buy shares from others you don't know ? Add to that the need to fabricate quotes from me about Koot together with fake news about alleged trading information I've never published on a chat board - the art of trolling is to publish facts and put a negative spin on them - any moron can fabricate shyte Irene !

Irene - people have got to hope you know more about football than oil exploration - weren't you the one who forecast no oil would be produced from Saffron1 despite a COS of 45% for a drill targeting 4 regions in an area where oil seeps to the surface naturally LOL!

Didn't the SP more than double after the Saffron 1 result?

Irene - it's well known that ex - CERP assets are underpinning the SP and we've all seen the official projections from BPC so no need to keep on ramping but if you must you should also mention the drill on the horizon in Suriname as well as the non Saffron drilling in Trinidad and the work over 3 rig ongoing programme to encourage existing wells in Trinidad to produce a minimum of 500 bopd, as we speak, becoming increasingly valuable as POO firms above $50 per barrel - whoopeeeeeeeeeeeeeeeeeeeeeeeeee!