Member Info for rossannan

in4cedros

Have you held CERP and latterly BPC right through from Saffron getting the go ahead in October 2019 (when CERP’s share price touched 5p) to now?

If you have, how on earth can you still be an apologist for Leo Koot?

onlybpc

They are trying to talk it up. I am disagreeing with them. But I am not trying to talk it down - the current MCAP feels about right to me on the available information (as I have made clear a number of times). I am not paid to post. As for not posting, here is the relevant post yet again:

rossannan
Posted in: CERP 23 Mar 2018 10:20
Posts: 6,706
Price: 5.80
No Opinion

Purple Day

Gentlemen and Ladies

Your positive reaction to my absence from the BB has given me an idea. Would you like the chance to make it a bit more long term? If you would, just follow this link:

https://mydonate.bt.com/fundraisers/rossannan

and for more information about Purple Day, just follow this one:

https://www.epilepsy.org.uk/purple

Monday is Purple Day.

Stop posting star poc tiburn. Become activist investors rather than apologists for the BPC BoD. You may surprise yourself with what you can achieve off-BB. Just ask bigmj if he is still around.

in4cedros

That is an interesting take on what actually happened.

Yes, predicting that Leo Koot would opt for a placing arguably gave him more credit than he deserved - I was clearly wrong to predict that he would do the right thing.

Instead of seeking a margin of safety, Koot kept CERP on a trajectory that would, as I illustrated at the time using CERP’s own figures, end up with it running on empty.

And that was what happened, with CERP accumulating the Lind debt in the process, leaving it in the vulnerable state that eventually saw it pitched into the merger with BPC.

The legacy of Leo Koot’s questionable financial management wasn’t just the shareholder value destruction ultimately inflicted by Perseverance. There was plenty of pain along the way - remember that the Lind debt became the Trafalgar debt in the merger and then became the Trafalgar shares. It was the hasty dumping of those shares that battered the BPC share price last summer.

It seems that naivety, aggressive or otherwise, around cash burn and funding requirements is the trap that PIs most often fall into with companies like CERP and BPC. It is the opacity of BPC’s funding position that currently makes it uninvestable. And even if its BoD can square something away there, their track record is hardly appealing. Are they really the best people to take BPC forward, post Perseverance?

As I said the other day, clarification of BPC’s funding position is imminent. A new BoD is maybe too much to hope for, but you never know.

Thebhoys

What anti-BPC seeds am I planting? I am not calling the share price down, not one smidgeon. All I am doing is challenging the rampy nonsense. It is more akin to weeding.

onlybpc

This happens all the time on BBs - folk back the wrong horse and then try to convince themselves that sinister forces (MMs, shorters, whatever) are to blame. This is why BoDs like BPC’s remain in situ for so long doing very nicely thank you on salaries that most of us will never see the like of.

Seriously, it is your company. Focus on the real culprits and make them shape up or ship out.

Far from exciting though.

Starchild

Again with the “special interest groups” narrative?

You need to face up to the fact that we are all PIs here and that we don’t actually need anyone pulling our strings to make us disagree with your take on BPC.

EggChaser1

What mask?

Only if such increases in our cost base actually add value. In the past TRIN has arguably let itself become over-staffed.

Bohemia

I don’t have a lot of time for the BoD, suspect that the Bahamas are a busted flush, have a justifiably jaundiced view of the ex-CERP assets and expect the funding situation to prove more problematic (and the solution less shareholder friendly) than most on here believe, but on balance (if I had to choose) I would rather be long than short at 0.45p.

ab76

I neither like nor dislike them, but I do have an issue with him saying “no debt” rather than “no net debt”. Saying “no debt” is simply misleading - it is not at all obvious that he means “no net debt”. If Spellbrook wants to endlessly ramp TRIN by only ever posting positives that’s entirely up to him, but he needs to get his facts straight.

have published a new note, apparently.

SvS

Good one!

deltalo

I’m here for the ramper stamping.

SvS

Now I’m blushing!

SvS

It’s your money. But comparators are necessary and healthy. There’s a kind of Stockholm Syndrome that goes with companies like BPC that is distinctly unhealthy. Too many folk on here still have too many of their eggs in this basket case.

Rampy as ever it seems - “no debt” is just wrong.

Apparently Spellbrook is safe and well but detained in Stalag ADVFN:

“Q1Results and updates Monday /Tuesday imo

WTI $63+

Lots of cash,low breakeven, no debt,lots of irons in the fire”

SvS

I would question that assumption. Every field is different. I was happy to double up on TRIN the other day at 13.1p - I now have 200,000 shares there and don’t have to assume a lot to see an opportunity for a decent return on my capital while I wait for BPC to get its financial house in order and its drilling ducks in a row. Compare the MCAPs, current production and actual (not available) cash balances of BPC and TRIN and you might start to ask yourself why you’re hanging around here right now. My concern with BPC is that in the short term there could be some kitchen sinking and possibly a raise. I have no such concerns with TRIN.