Member Info for in4cedros

Krapper - your ignorance is breathtaking - new job for you - a trip to The Wirral to tell Merseyside Pension Fund they shouldn't be invested in BPC ( see rns 25/06/2020 >2%!) - are you a qualified financial adviser? If not Arry will be taking a keen interest with his legal adviser!

Arry & dross - I've just had a look at the previous Placing 10/10/2019 - Open Offer to shareholders at the time of Bizzell CCLN deal.

Shareholders took up circa 50% of amount needed and company had to go to Shore Capital to get the rest from their clients .

Given they had invited shareholders relatively recently to fund development and noted response they would, almost certainly chatted over the chances of raising more from shareholders at this time. I'd speculate broker confidence was not high that would work again hence the more pragmatic approach adopted for the Placing with aggressive discount which has achieved a competitive aftermarket- looks like a master stroke by BOD - plus more confidence expressed by BOD in their project by BOD share purchase, in addition to amount taken in previous Placing .

Let's not let facts get in the way of a trolling opportunity LOL!

You guys! I've already explained the likely reasons Primary Bid wasn't used!

Re director buys although I've not read anything that ties their hands on the new shares issued to them I believe it's highly unlikely they will sell before the drill as such sales will be ultimately become known and there will be an army of ' Arry's' on here rightly questioning the BOD confidence in their drill !

According to dross most of you shareholders are going to sell pre- spud cos you don't want to run the drill risk - you can buy @ say 2.15 and have flexibility to sell pre-spud don't you prefer that to buying at 2.0 and being ' locked in ' until spud ? I'm not crying on behalf of the BOD just ventilating a view some might not have considered ( especially current BOD haters! ) LOL!

Arry - btw where do I find that option BUY BUY BUY STRONG BUY on the Opinion drop down box ?

Do you think it’s significant that the box is for ‘ Opinions’ - probably why FCA comfortable but DYOR - why not ring them Arry?

Findme - that is the quote that I bang on about ( historical footnote- Jo claims to have got it from study of the Brits!) .

Arry - if you believe Star has crossed the line, based on your mate’s advice cite the evidence.

I’m prepared to do just that with poster LayLadyLay - some years ago on LGO he posted, on a Friday, there would be a Placing following Monday - there wasn’t, as it happened - but that’s what the FCA are warning about in the ‘Important Message ‘ we all read each time we post on LSE !

Whether someone posts Strong Buy or not is unlikely to be troubling to FCA otherwise they would have requested LSE remove the options from the site at the same time as they asked LSE to alter their site to include the ‘Important Message ‘ I previously referred to .

Tonsan - 35% COS is still a risk and clearly shareholders accept it - trolls like Krapper with a Post Office Book risk attitude don't but they miss out on success - Krapper forecast NO OIL on Saffron 1 with 45% COS and lost out on doubling of SP after encouraging results - why does he spend time on here - not focussed, not funny, not in it to win it !

dross - I can see why you want to relegate CERP to the sidelines as you were clearly very embarrassed about your conduct on that chat board . Let's recap - Koot told shareholders he would drill Saffron 1 without a Placing - you didn't believe him and spent close to a year posting, often multiple times daily, promulgating your view - you were wrong - slunk away tail between your legs - now you're back but still clearly smarting about Koot - no one forced you to spend almost a year on a failed campaign to undermine him dross!

The CERP deal is done now and no one forced BPC into it - wasn't BPC directors who lost jobs! CERP has excellent potential, particularly SWP development and BPC have told you in rns that they thought the merger was beneficial and that it should assist financing . If you are a BPC shareholder and are still unhappy why not sell up and move on like most people do with shares - CERP assets and Koot are here to stay and be developed until BOD signals otherwise !

Star - when you carried out your deep dive did you notice oil bubbling to the surface on the site of P1?

rossannan- easy for you to say it counts but I've yet to see the apology for your behaviour unless you believe that taking a long holiday from posting was sufficient contrition - quite frankly, I'm not seeing any change of style!

NICO - pleasure to exchange information- next time I'm looking for a long odds bet that's been woefully undersold I'll read Malcy's blog before I pick up the Sporting Life!

ATB!

NICO - PS inspired by you I'm thinking of changing my moniker to incendo - catchy?

NICO - thanks for posting the link for Malcy. I love Malcy and agree his sentiment about the drill being high risk but shareholders will almost certainly take much greater comfort from the information provided by BPC in the link from rns dated 13/08/2020 accessible from the BPC plc website.

More than $100 million has been spent to date on the project. extensive dataset and G&G analysis established presence of petroleum systems bracketing key source, maturity, migration pathway, reservoir and seal parameters.

Perseverance #1 targeting P50 0.77 BILLION bbl, upside of 1.44 BILLION bbl, success de risks structure with more than 2 BILLION bbl recovery potential.

Fold B, ( I'm not talking about Malcy's waistband here! ) has a COS of 23-35 % with Fold C assessed at 28-35% . These odds are clearly a long way from 12/1 - perhaps Malcy got them mixed up with the Grand National! Better COS than the Perseverance #1 you don't often see for an Exploration well - Koot had 45% on Saffron 1 with 4 target layers and the result inspired development of Saffron 2 but BPC shareholders would obviously prefer your ' gold taps ' first time round!

Apologies to PRD readers but I felt you should have good information based on CPR about BPC drill . BPC are welcoming cash inflows at the moment pre drill as it's an expensive enterprise so if you guys can encourage Paul to up his offer for TI that could well be mutually beneficial!

NICO - I would like to think that all the BPC shareholders are in it for the gamble but the 12/1 COS is not a figure I'm familiar with - my recollection of the COS is between 25/35 % and drilling through 9 target layers with the mother lode as the ultimate goal ! Even on my figures it's still a significant gamble so not for widows and orphans!

The reward for the risk is potential deposits akin to some of the finest in the Middle East and a favourable tax regime on extraction! But I'm not on here to ramp BPC I merely answered your question on CERP production and tried to stimulate discussion on ENHANCED PSC which I believe your Paul will be watching closely even if there's not much of a flicker on here !

NICO - forgot to mention there are some grumpy old g1ts on BPC chat board who don't have a good understanding of the CERP business and make CERP the whipping boy for any negativity that comes their way . The educational process is long and hard for these people but not tiresome for me as troll baiting is a source of amusement for me !

NICO - re your post yesterday @09:07 CERP/BPC are likely producing over 400 bopd ( see MEEI Trinidad IPSC stats ) but likely to increase to 500 plus shortly ( rns aspiration ) .The interest for me in latest rns was reference to ENHANCED PSC on Goudron - Koot had been attempting to negotiate this for years with T&T Government- suggesting better terms should stimulate more investment to generate better volume - everyone a winner!

TI is similar IPSC so Goudron deal likely to be blueprint for TI and small improvements could be very significant for the field whether PRD continue to share with BPC or buy out. The likely SPT improvement is also to be welcomed.

Arry - The institutional Placing was the way forward in the circumstances and people who understand the markets know that.

You've spent the day moaning about things you can't change - some of the trolls are more upbeat than you!

Krapper - many thanks for adding your support for the SP at the 2p Placing level at which even ' excess demand ' was accommodated .

I'd speculate they could have raised less cash overall at a higher placing price but BOD are best placed to weigh the arguments - I'm glad they're running the company not you ! Did you see that dross is also back in at post placing prices !

Arry - I'm not seeing a millstone when I read the rns and notice, for the first time, that the new 10 year deal is to be called ENHANCED production sharing contract - Koot has been working on getting a better deal for years and now it appears very close. Small potatoes compared to P1 spud but if you must moan about CERP why not learn a little about it first - after all Star is attributing, in one of his scenarios, more than half the current SP to CERP so you're getting P1 thrown in at rock bottom rates for a drill with such huge potential - what's not to like Arry - don't be such a misery monger!

Stach - I was rather hard on bah ( almost bah humbug! ) but he has now modified his position to 'I DON'T THINK the group would allow it ' ! We're all entitled to opine on the subject and BPC have strengthened their negotiating position by raising cash through the Placing.

Although I'm not privy to the conversations between Stena and BPC I genuinely believe Stena discussed the idea of a stake in the project when the deal was struck for the rig and I would be absolutely flabbergasted if they didn't sign papers confirming acceptance of the options ( they'd have been silly not to as the options were not obligations but market movements in the intervening period could render the options a no-brainer! ) . It would certainly be very eyebrow raising if the BPC rns referring to the Stena options was news to Stena!

As I said before we are all entitled to a view on whether Stena take some equity in the deal - I'm thinking that they probably will - may even be a token gesture amount but if posters assert that it won't happen I'm going to question their reasons for advancing such a viewpoint in case they may know something I don't - as things stand I acknowledge it could go either way - let's wait and see.

ATB!