Member Info for Private_Investor

Equiniti....still nothing.
Anyone looking for a trading platform take note.

i would expect a fence post to make anyone cry in those circumstances.

Jim, sorry if my efforts to have a little fun make it feel more social media.
My view, if we were all working in the same office these would be the 'water cooler' moments in the day. Nothing more.

Back to topic:
We are once again with BPC in a bit of a holding pattern, it seems to have been a regular state over the past 10 years.
Again, many view this time as different, however, the difference can only be judged based on future events. If this is the event that unlocks BPC (and CERP although I hold limited historical knowledge of their journey, struggles or timelines) then history will judge it as a great event in the company life-cycle. If it does little more than kick the can down the road it will be seen as 'more of the same'

I am confident that next year will transformational one way or the other for BPC. I try to remain optimistic but find it healthy to have my own seeds of doubt. It avoids wearing rose tinted spectacles.

every parent has a favourite child, if your parents never told you specifically that you were the favourite there may have been good reason. Even worse if you were an only child.

bryn thank you for playing and picking up my error.
I was never a big fan of the fab 4 if I am honest.
i avoided 'gary glitter would make a great dinner party guest because ...'
or the footballer whose name escapes me that is or was serving time for his offences .

is all getting a bit 'meh' on the BB.
so to re-introduce a bit of humour that has been missing the past few weeks and to avoid any risks of controversy lets have a bit of friendly competition.
Complete these sentences (twitter style - 140 characters or less):

1. Oasis are better than the beetles because ....
2. Jedi is the best religion because ....
3. My second child is my favourite because ....
4. Ham and mustard is better than beef and horseradish because ...

Q 4 is a trick question.

Equiniti - someone please remind me why I am with these people?
still no WTG cash return.

Sorry.
Had a week without posting could have been 2.
Life blends as structure is removed.
Conscious decision on my part as didn't want to get in the middle of the CERP / BPC thing.
Like it? Not massively, but recognise some values on both side.
Make a financial case for it short, medium or long term? Not with the limited details I have available.
Vote? For. I have faith that the board continues to act in the interests of shareholders.

BB - full of interesting and valuable posts mostly civil. Mostly. But exceptions are normally man marked well (sorry for the gender bias, it is cultural exposure rather than any suggestion it could not have been woman marked)

Off topic element deleted prior to posting regards effective dividend rate elsewhere. Best behaviour today.

Several quotes available.
They are like A.holes. Everyone has one, often full of ****.
I prefer Tim Minchin's version.
Opinions are like A.holes. in that they should on occasion be subjected to thorough examination.

I have learnt that my opinion has no greater or lesser significance or value than the next persons. However if people with different opinions get together and constructively examine opinions the final outcome is always worth more than the sum of its parts.

Chesh...gorillas, elephants. I know BPC have started to diversify but if we are investing in zoos I am seriously going to have a long hard look at my investment. Unless we have orangutans.

Things P_I knows are few and lack depth, however, I do know this. If you step in to fight a gorilla the fight does not end when you have had enough.

Brilliant post Bryn.

I suspect if these BB conversations were had over a beer there may be a bit of "muscle flexing" but that physical confrontation would be unlikely.

By the very nature of people who dabble in, invest in, speculate upon, work within the world of equities the majority probably are Alpha types or at very least have Alpha traits.
That drive and determination is often what enables us to have the spare funds to dabble.
Alpha types are also more likely to engage in higher risk activities.
BPC has always been high risk.
Hence attractive to Alpha types.

Oooo get P_I.
Pretending to be cleva an stuf.

I know you have stated that you plan to play this like a fiddle - and I thanked you for the honesty.
I just wanted to check that other than BPC everything is OK as some of the posts recently are not reflective of the type of person/poster you have been on this BB.

IK my route was the reverse. As everyone else got bigger around me I moved out to the wing. You start playing at 10 - 11 and most of the colts are a similar size. By the time you get to 16 and some of the lads are a foot taller and several stone heavier scrum half gets more painful.
But, it is more fun in the middle.

almost bringing it back to 'on topic'
when i first picked up the CERP news I thought it was a classic hospital pass. I have come around to the idea now. Better to have a smaller slice of massive cake than no cake. (Imagine walking away now when in 6 months we could have a drill underway)

You want my babies...where were you when it was them keeping me awake at night rather than a sociable (and socially distant) drink with a neighbour.

As a rugby player I am not sure where the blurred lines are in terms of sexual identity. You could be a man that identifies as a woman or vice versa. You could be gender fluid.
But what happens in the scrum stays in the scrum (from an enthusiastic and committed scrum half who compensated for a lack of ability with an abundance of bravery/stupidity)

I had written 3/4 of a (massive) missive before breakfast but decided to hold off when I saw the fun and games were in play.
welcome to the BPC BB new posters.

point 1.
IK if you leave we will get bryn to ban you from the BB.

point 2
back on topic. sorry.
3 weeks ago BPC was a binary play on Perv#1 and most of the shareholders were happy with that risk.
SP and the board have since done some traditionally smart things, they have secured the future of the business as a going concern if Perv#1 comes back dusty through Uruguay and a possible merger with CERP.

Some will see this as SP making sure he still has the prospect of a pay check if Perv#1 is dry. Some will see it as BPC looking towards a world where they are a more mature business. Some will see it as just adding a revenue stream that they can leverage for finance.

Reading some of the posts on CERP BB over the weekend - not research just casual reading I come away with the impression that whilst they may be producing, it is not yet profitable. There is a requirement for funding to unlock additional potential. The money markets have not proven to be wide open to CERP.

Open question to CERP holders posting on the BPC BB - I don't want to be challenging as a BPC poster on CERP
- In the absence of a deal with BPC, even a deal that does not look good or at best carries risk for CERP in partnering with BPC (one shot at glory - 10+ years in the making) what did the future look like for CERP in terms of financing ?
How do you think the next 12 - 24 months looked for CERP?
Given the track record of BPC/Macquarie to generate new funds (placing/open offer/options/CLNs etc) what % of CERP would you have given up to unlock the funding required to exploit the CERP assets fully? (dilution by any means - open offer/farm in/CLN whatever choice you make)

Not intended as a baiting exercise or as a negative towards CERP.

you don't tell the person you are about to go to bed with that you don't think they will be as good as their sibling/spouse/parent.
If after the event you want to share their scores that is on your own head, and as funny as it might be from afar it would take a more brazen person than me to do so in the immediate aftermath.
tantamount to suicide half way through!

Ladies and Gents I would like to introduce you to the newly formed Caribbean Oil Company and Kin.
Just so we can all be childish and laugh at our new ticker.

The BPC BB has historically been a reasonable place. We get the odd bad apple or moment of poster indiscretion. I am as guilty as anyone.

That said I have a request in respect of Harry, a long time poster. He has been decent and honest enough to share what his plan is. If there are any misleading statements I am sure he will have no issue being picked up on them. But please don't allow it to become a personal thing. We are better than that, and I include Harry in that.
If things ever do get to the drill stage and Langan's I for one look forward to meeting you all and sharing a few stories over several drinks.

Harry, I wish you the very best of luck.
I appreciate your honesty in terms of plans to ramp or deramp as you feel the need to over the coming days/weeks/months ahead.
I hope it proves to be a good strategy for you. Day trading can be lucrative but it is not for everyone.
I cannot say I have never sold here. I have always held a core of shares. I grew frustrated over missed opportunities so added a second trading pot. The sole aim of that pot was to increase gradually the total number of shares held with no additional cash injection.
I was around 40% up in that pot when I took out the initial trading pot capital giving me a core pot and a small free carry trading pot.
I have been lazy and not traded that pot for a while but it is under consideration at the moment.
My comment about selling here and buying CERP was part of my consideration in that respect.
- Still under consideration.

Bonum, if you sell you don't get to vote.
just a thought.

Bamps21
welcome to the BPC BB

I do understand where you are coming from. If I were risk averse I would agree with you.
As I have not done the research on CERP I have a genuine honest and non loaded question - Without a partner what was the future for CERP? What was required to get from where you are now to realising the potential?

From a BPC point of view, CERP shareholders will have a 26% interest not only in a well that had we not had the restrictions of Covid 19 should already be in progress. That well has a 30 - 35% COS depending on the report for c. 770m BOE. (upside 1,440m)
But also in the other licensed areas (total upside 28bn BOE).

I agree that the costs for deep water are restrictive, PERV#1 (affectionate BB name for Perseverance #1) does not fall into the deep water category, it has been carefully selected from the BPC prospects to be a lower cost option. There are better prospects but they had higher drill costs than we could consider without a farm in.

The risk is that our assets are as yet unproven. Alone we were a binary play at this stage, with no farm in partner if PERV#1 was a d_st_r it was hard to see a future for BPC. I see CERP short-medium term as a life vest for BPC if PERV#1 is not as good as planned. It gives a producing asset against which to possibly raise funds in future. I see Uruguay as a medium/long term life vest giving life after the Bahamas if it all goes badly.
I see the combination of CERP and Uruguay with BPC as having options through diversification.

If a BPC holder with say 4m shares - we will call them Garry for the sake of this post. Sold all 4m shares at an average of 2.5p today, generating 100k (ignores expenses etc)

they then use that 100k to buy CERP shares at 1.6p (correct at the time of this post)
6.25m CERP shares.

if the merger goes ahead they pick up 0.803 BPC shares for each CERP share.
giving them just over 5m shares in the new business going forward.

So the risk is swap BPC holdings for CERP holdings for a potential 25% gain and the risk is then what if the deal does not go ahead.
Where does the risk come from? BPC get a farm in offer while holding only CERP, the CERP deal goes away and you are left with 6.25m shares in a company where the LTH though the BPC deal was not good - expect a recovery in SP on the back of no deal.

If i was Garry, I would be tempted to hedge, sell some BPC - upto 50% - use the proceeds to buy CERP. Switch off the screen for a week and see where we are then.

What am I missing in there ?