Member Info for LGO-fan

typo in the new name...should Challenged Energy Resources!

*prove

Right now, "Trinidad tax credits alone ($85m gross/c$25m net) is approx. = BPC’s current MCAP". Given there is soooo much historical negative baggage on both the ex CERP/LGO side and the (soon to be) ex-BPC side, it's no wonder the market doesn't attach any value to the current assets and future plans. The BOD will have to proof itself, every step of the way and deliver on promises, stick to their words ("we're fully funded!" - haha) and show a path to profitable growth. And above all, be open with the shareholders. I have yet to hear anything convincing wrt to the above, and judging by the SP...I am not alone.

I would not have gone after a off sea oil licence because I would have understood that a deep sea drill would be biting off more than I can chew. leave that stuff to the big guys.

the story of AOGL going into He1 (a far better place to be than AOGL). If a similar thing could happen for BPC, why not?!

reading between the lines....it works for you, lol

sounds like he was a very wise man. Wish I had received his advice many moons ago. It's so true what he said.

Willec is simply Lenigas in disguise lol!

simple: too high an investment for too small a company

this is AIM: you know very well there will be no folding. Equity raises, yes, but folding no.

The biggest reset for the company is coming to terms with the bust dream that was P-1, which is replaced with Saffron-2. That is a hard sell to the rainbow chasing community, but it's the right step. SWP is a far more attractive proposition than the off shore rainbow project this company wasted 10 years and $150mn on. At least if you believe in proper economics and acceptable risk. What I don't like in the presentation is that too much hinges on succes of S-2: they replaced one massive binary play with a tiny one. Not a great sales job. S-2 is a means to a bigger end and financing and investment needs to be structured accordingly. Until they convince the market, this sp will slide further south post consolidation (been there, seen it, bought the T-shirt)

Tuesday yet?

I do think that the SWP is a bit undercooked in the presentation; on the other hand the company needs to regain trust big time (better to over deliver for once).

their biggest asset is probably their debt....

Very sensible advice form Mrs Trek :-)
Ps ask her to post on this BB, lol!

Totally agree; hence many of the ex-CERP HOLDERS were against the merger. We were around 2.5-3p before the merger and are now rapidly moving to 10% of that sp and we end up now hoping the ex-CERP assets will save the day! At 10% of the SP we were before. The value destruction the purple door-to-door vacuum cleaner salesman caused is astonishing. (he will probably say it was all accretive, lol!!)

produce some facts please: when did they consolidate, consolidation factor, sp 6 months pre and post consolidation.... for starters

it doesn't specify. We only have one current one, so I assume 29 new ones

from the RNS W posted

The current estimated overall field development would comprise up to 30 wells in total, with a peak production projection of approximately 4,000 bopd

30 wells.... at what cost per well, is the question. 3 million?
4000 bopd....30 wells...what....a 130bopd per well....at 3million per well....please tell me that's not the plan! Where is that 90million going to come from....

Exactly! And it is worrying that the BOD wastes timen and energy on this nonsense rather than on fixing the business. Shareholders have suffered long enough here and deserve better than this