Member Info for Parpaing

Spritefan - And how much are Potter's expenses and rent?

Shouldvesold - how about reducing Potter's salary from 1 million squid/ dollars down to 100,000 maximum?

May 2020: Entry into a fully termed, binding and unconditional rig contract with Stena Drilling for delivery of a sixth-generation drilling rig to location within a firm time slot between 15 December 2020 to 1 February 2021. The rig contract provides for significantly improved terms (notably, an all-in rig cost, including managed pressure drilling system, that reduced the estimated total cost of Perseverance #1 by approximately 15%.
So why is there 10 million to ba paid after an all-in rig cost?

The RNS is the most positive article written by BIOM, so I guess the CEO didn't write it.
So the SP should move up to the 2019 amount of 645p shortly.

You may be surprised in April to find out that the P1 drill was deliberately stopped because they know that there is a lot of oil at 5000 ft or thereabouts. but they don't want the general public to know about it due to the court case that may not happen because of the lack of funds and interest. People on rum talk a lot but when money is requested for a court case, then it's a different story. My research shows that oil is plentiful all over the Caribbean but at depths of 5 to 9000 ft.
There will probably be an RNS when the Judge rules out the court case. The working petroleum system is there which shows that oil is migrating from the deep. The BG is saying nothing. BPC is saying nothing. The drilling and geology report won't be available until after the court case. Everything is secret until then. Hold your shares and enjoy the ride!

No mention of the Bahamas in the RNS. Probably because Potter is waiting for the court case to be over and done with. Then we will see the plans for the Bahamas, but not before. Clever waiting game. Nice one Potter!

At last, a positive RNS explaining what the company is doing!

We need a new CEO. Someone who understands how to sell and not spend his valuable time talking about mythical climate control. If he knew how many rockets and bombs are flying about each week he would realise that he better focus on his company and not someone else's job.
What we want to know is how the sales are progressing?

Should be about 10p this week considering the BPC website stating the BPC's scorecard for this year. particularly where it states: End 2021 more than 10mmbbl (net), more than 15$ net revenue (run rate pa).
Look at:
https://www.bpcplc.com/about/vision-values/

The BPC website states:
The Bahamas
5 licences (100%) plus 3 licence applications (100%), all offshore
Unrisked prospective resources of 1.6 -3.3 bnbbls
Near-term high-impact exploration drilling: Perseverance #1 well on B North structure segment end 2020/early 2021, targeting P50 0.7 bnbbls (Upside 1.4 bnbbls)
https://www.bpcplc.com/operations/
Then more marketing on Trinidad and Tobago, Suriname and Uruguay. Very busy year ahead then.

Thanks for the info Star, but what do you mean by "substantial potential for spectacular rises." Is this 6,7,89 or 10p?

Most of the posts on this BB are pure conjecture.
What we do know is that Potter has driven the SP down by not drilling to TD as he said they would, gathering more funds when we were 'fully funded' for the drill and that Eyton said that 3,4,5p is nothing compared to the SP after drilling. 130 million Squid or Dollops and a lot of marketing disinformation.
As an LTH of ten years, 71 years old, I am waiting for the next RNS with the important words such as 'may, potential, could, might' etc.
Starchild, bear in mind you probably have many more shares than Potter, who doesn't care about his 4.8 million shares as he is on 1 million GBP salary!
Lets' sack Potter and vote for Starchild to be CEO.

Nellie,
The RNS : https://www.lse.co.uk/rns/BPC/perseverance-1-completion-of-drilling-sncufu07dqurx69.html also stated:
· Drilling has now ceased, the well having reached a depth of approximately 3,900 meters without incident, and the well will now be permanently plugged and abandoned.
It also stated: · The validation of a competent seal, good reservoir quality, charge and the presence of oil points to significant hydrocarbon potential remaining in various independent, untested play systems and structures within BPC's extensive acreage. So I hope that apart from the word 'potential', there is 'significant hydrocarbon' .

Hi Jono,
Thanks for the Oilman jim report. But we were told on several occasions that we were fully, fully, fully funded.
Therefore, i see no reason why TD could not have been carried out.
Maybe starchild or tilburn could actually give a factual reason why TD was thrown away with the fairies. I don't want to see all this ramping about what's going to happen in the future. I've read this for ten years.
So just one question ,Potter. Give me and all the other shareholders the REAL reason why the drill was cancelled.

Nanjan22 - do you really believe these are low prices?
If I bought BPC shares at these prices the SP would automatically go down, just like the SP has always done.
Secondly, check out https://www.bpcplc.com/2020/09/15/carivs-2020-presentation-the-bahamas-the-making-of-a-new-caribbean-hydrocarbon-province/

as you can see by the chart, BPC stopped the drilling at 3900 meters which is above all the oil shows from previous drills. Potter stated that the icemax would drill to 5900 meters which is where the oil is. So somebody tell me a good reason why the drilling was stopped early, particularly as the drill was without incident?
We were all looking forward to this drill and Potter destroyed all excitement and dropped the SP on a drill!
Madness.

Gary Graham
You are absolutely right. As far as I am concerned as an LTH from 2010 buying my first load of shares at 20p. The company appears to be run like a charity and we are making donations. No vice Doris got so upset when I first reported this he blew his nut. BPC have begged for money for years.They didn't go to TD and shareholders/donators saw the SP go DOWN from spud!
We couldn't get out or topslice at all. Plus the drill time was boring,not exciting.
The shares are in the bottom draw for when Potter wants to retire with his shares. Then we will have a chance to get out of this 'investment'.

No vice Doris - newbies don't get taken in by fake comments. Particularly yours Doris.

Novice,
Now you are being libellous I am an LTH and started 'investing' when Akan Burns was running the company. Unfortunately he died. Then another expert engineer Paul Crevello came and went Ten Simon Potter was hired at a million dollars or pounds per year!
I'm still an LTH because the shares that I have cannot be thrown away as I am trusting Starchild with his thoughts - but not yours novice.

Novice,
Nothing libellous in my post. BPC took on CERP without any discussion with the shareholders, they stopped the drill well before TD, they gained more funding without consulting shareholders, they doubled the number shares,ruined the usual raise in SP at spud and diluted our shares considerably. You are obviously not an LTH

Newbies - you have to understand about investments. I recently invested in a water softener and reverse osmosis filter system. Now I have really clean water. The dish washer, washing machine, showers, sinks, kettle love this system. That is an investment.
Now let's talk about AIM. Any money you put on any company is a DONATION. RBS should have been an investment. Turned out to be a donation. BIOM looked a wise investment but the boring CEO has managed to drop the SP from 600p to 210p. Nothing wrong with the company, just the CEOwho should be put out to grass. TRP and BPC obviously both are donations. You can average down but the bod will spend your money like water. The CEOs don't say please donate, they lie, invent more 'shares' and tug at your heart strings to part with your hard-earned money. It's no different to time share except at least you get expensive holidays. With shares you get nothing.