The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Yeah the guy is talking out of his arssse.. only about the OPL 226. That is a pipe dream for the moment.
Talking about oil production from Nigeria when they haven't even got a damn licence in place, or drill rig, or well design, or even a damn confirmation on reserves....ALL of that before you get one drop of oil to shore....
Yes indeed and looking at the production curve over the next 5 years it looks epic. 5000-10000 barrels a day going forward with strong oil prices...pure cash. All goes to the bottom line. Barron flats feed off the wind turbines too so it is very environmental friendly. Gas reinjected into the well too, nothing flared. Stonking piece of business by AM, very impressive. Master stroke. He re-deemed himself. I have far too much money invested in BPC...I wish I sold out before their well result came in....kicking myself. Anyway.
This is a 2-3 year hold and see it rise to upwards of 5-10p probably...i mean if Predator is past 10p then why COPL cannot go further...
Hey Shaa....ahh I apologise for all my messages but I was extremely annoyed. Doesn't justify my behaviour though..
But the Atomic deal has got me so happy and I am going to increase my holding by a few mill I think. This has to be 2-3p in a year with 5k barrels upwards of $60 a barrel....oil will be going much higher as exploration slowed a lot last year and as Europe comes out of lockdown in the summer, and increase in air travel etc it should surge further.
Mill Trade, it was from January and also the one from December. He talks about the Barron flats Atomic fields and the production/gas injection. Sounds epic.
Bladder,
What kind of SP do you think we are looking at? So excited by AM's interview on the Atomic potential...5000 barrels a day and increasing....70-100 barrels a day too...
How is this SP not much much higher now? 5000 barrels a day at $65 WTI...and forecast to go higher??
This SP should easily be 2-3 in a year or two no??
Great to see finally some progress here and on the way to producing hydrocarbons. Oil price is forecast to remain strong for the coming years as the oil and gas industry enters a new supercycle....which is fantastic.
Still disapointing about this OPL 226, which I ended up being right about....that is shocking how long that has dragged on for. But credit to AM for this Atomic aquisition....great stuff. Should see the SP climb above 2p in around a year one would think?
OK Starchild....but all of that is noise...
What does this mean in potential SP in a years time..please advise.
Yes true, good point. So around 2.8 to 3p
Its not long but that is a VERY realistic price and now is a bloody great price to buy.
Mr Egg,
Oh sorry! I took my information from the following source.
http://www.ird.gov.tt/for-petroleum-companies#:~:text=The%20tax%20rates%20range%20from,over%20US%2449.50%20per%20barrel.
Guys,
P1 was as much an experiment as it was to try find an exploitable field. BPC have more knowledge now about all of their structures as a result and it won't stop them from drilling on another structure. Also, crude oil is going to be needed for decades to come. As long as you need kerosene for jet planes, plastic, heavy diesel for ships, petrol etc etc you will need the black gold.
Anyway, 2500 barrels a day in 12-18 months...at 60 dollars minimum a barrel with a 40% retention after all (50% petroleum tax in Trinidad and minimal lifting costs) will bring the market capital back up to circa 250 million..considering PE of 10.
2500 x 60 x .40 = 60000 usd / day
60000 x 365 = 21.9 mio usd net income
21.9 x PE 10 = ~ 220m
Factor in a conservative 35 million development costs
185m market cap. Say 5 billion shares in issue....just under 4p MINIMUM by end of 2022. That doesn't take into consideration monetisation of BPC licences and also Uruguay interest.
Starchild, may I ask, do you short this stock on an ongoing basis or are you a long term holder?
I.e do you wait for it to spike as it historically has...then sell....then buy big again on the drops...then sell? I guess your average is quite high but are very certain of an eventual success here? What is your 1-2 years SP predicition?
I got hold of Potters number. Its in a pdf document on the website....
I wonder what he would have said if I called up pretending to be Bernard Looney from BP playing dumb before Perseverance 1 result came out...
Or wonder what he'd say if some random bloke sent him a Whatsapp message asking for an update or giving him a call for reassurance. :D
Can anyone clarify something for me.
If producing 2000-2500 barrels a day with the Trinidad assets, how long can that production go on for given the 2P reserves....anyone know?
Trying to be more positive and doing a bit more thinking....
Once the dust settles and BPC actually get the production up to 2500 barrels a day...lets say it takes a year and takes another 10million to get there...their overheads in T&T are pretty low. The infrastructure is already in place and at 60-80 USD barrel which is pretty much guaranteed for the rest of the year given OPEC supply cuts being maintained and when lockdown ends and the transport system gets back into full flow the oil price could even go higher.
The price has been lower than this before granted with less dilution but the production potential is there with Saffron.
So we have
1. Brent crude price stability and looking to go higher than 60 USD barrel
2. All production goes now to our bottom line
3. Increase production to 2000 barrels + giving revenues of 100,000 USD per DAY
4. Low overheads at T&T
5. Possible..but low chance...of monestisation of Bahamas licences and farm out
6. Renewed interest and investment with activity in Uruguay and Suriname
But they are not answering their phone...
Anyone got any advice on how to get through to these people?
I want them to produce a video message reassuring shareholders. Its not asking much.
Please fast forward to 10:45 and listen what Koot says.....
https://www.youtube.com/watch?v=1LoJi9l-k4w&t=501s
I want my money back or I demand Potter and Uliel and perhaps that useless COO plonker who did that **** poor bullcrap presentation to produce a presentation on exactly how they intend to get this share past 3p in the next year.
If they don't I am going to persist writing non stop to these con artists and demand a cheque in the post.
If they have fookall left in their coffers I suggest they take some of that 12 million in the bank and use it to pay the costs....instead of raising funds and shafting shareholders.
This is such a big load of crap now....these damn directors and their bull**** funding.
It took them a decade to get the go ahead for this drill....
What people don't realise is that it takes years to plan a well, source the items and then actual fund the damn thing. I would say there is more chance of finding crude oil on the Moon than drilling another well in the Bahamas.
I just want this to get to 2p in at least a year then I can move on. Absolutely RAGING I never sold when this hit 3.2p.
I am raging about the dilution....the fact SH's were scammed into believing it was fully funded.........about the **** poor SHOCKING embarassing and pitiful presentation by that useless COO.....and the fact they need more funding to increase the production on these nodding donkey fields.
What a disaster. I want a video presentation or video directed to all shareholders by BPC directors on the way forward....afterall their aim to 'generate value for our shareholders'
I could never get how people find OFAH so funny...its so crap. Fawlty Towers is proper comedy....that is what you call genius comedy.