Member Info for ShouldveSold

May I request you provide the link of what you searched to show the results you have found stating the Uruguay oil licences. As Google is not returned any information

I will now Google this.
No reason why you & I can't be civil in debating any points.
Maybe you see the purposeful misspelling of my username as fun or personal jabbing as to display a level of dislike.

Telemachus
For every 10 shares you currently have, you will receive 1 share of the new company
Whether the market sets that value of the new company at £0.35p or not is yet to be determined.
Whether this will all take place before the drilled of S2 & Suriname or after I don't actually know. Maybe that is contained in the RNS, maybe that's what the presentation on the 29th will explain.

Nelly
In my opinion there is nothing wrong with reverting back to Columbus Energy.

Novice
I don't wish to but heads with you now going forward.
I have never claimed you have said anything.
I am currently unaware of any Major that has bid for any licence in Uruguay.
As with the Bahamas licence, when a JV or Farm In/Out is announced, speculation of one is just that. We are all free to speculate. I am certainly not suggest you stop doing so.

Novice
And in the history of offshore oil exploration in Uruguay, how many discoveries have been made?

Come on we have just been through this with the Bahamas. Let's not get carried away in believing BPC has the ability to discover oil in acreages that Major's haven't.
Its one thing to explore in proven acreages but another with unproven.
BPC does not currently have the capacity to spend $50M on another wildcat drill where NO OIL has ever been found.

Oh crap LOL. Nice find
All change !!!

PoC
Indeed like the Bahamas, the potential for oil to be found there is evident in the seismic.

POC
Its my understanding that Uruguay does not have a confirmed 1bn resource.
No oil has ever been found in Uruguay. All their oil is imported.
No company bid for the licence because it has been deemed to not contain oil offshore.

Fatal
I don't think there was ever a stated plethora of interest. I think the CEO planted the seed of inception & a few just read into that and ran with the belief, choosing to ignore the fundamentals.
I was always of the opinion of being unaware of any company that has Farmed Into a non commercial well & unproven licence. That belief just didn't make business sense to me.

As much as the RNS provides answers it also throws up a few questions for me.
I expected the slimming down of the board to reduce costs & also a surrendering of the Bahamas licences.
Even though they are NOT doing so, they are choosing to renew them, whilst also stating the Bahamas will no longer play a role in future operations.
To me this is a pride decision. They live in hope a Farm In to explore will come within the next 3 years and if one doesn't they will drop the licence.
I think this is a waste of capex but it is what it is.
Potter's role was untenable, I'm glad he has taken a back seat. I hope his salary reduces appropriately.
Eytan as an oil man? A CEO? I don't quite know how they managed to vote him in.
I have skipped over the consolidation proposal and will review it piece by piece to understand it over the weekend.
We were all aware of the financial shortfall.

Spending capex on rebrannding sounds silly to me. It doesn't change company performance of market sentiment.
I will be voting for the resolutions and sticking this in the bottom drawer.

Thankfully we still have the core assets. T&T is the only way forward. Offshore exploration is too expensive for this tiny company.

I am guessing all posts in the thread got deleted because they violated T's & C's by discussing another stock on this board.

Touché

If BPC had a licence there, I would be interested. But being as the North Sea is a prolific basin, I wouldn't be that concerned of a possible non commercial find.

I'll take your word for it as North Sea discussions don't interest me.
50 non commercial Wells is hard for me to accept though without reading it somewhere.

50 non commercial Wells were drilled in the North Sea before commercial quanities were finally discovered?

Rickierich, you don't have to research current oil production or oil discoveries in Uruguay if you don't want to. But may I suggest doing so, it may help with any expectations you have.

Ross what you have just done is repeat this unresolved 18month old arguments and just included me.
Its my fault because I did just insert myself in trying to get you both to see there is no victory here for either of you.
*shrugs*

In4cedros

I am certainly not taking any position to police this bb about what should & shouldn't be said.
I don't know the circumstances of the debate but I have read posts since I joined.
By all means settle what ever needs to be settled.

Ross & In4cedros

Are you both really continuing to joust about what was/wasn't said 18months ago?
Not to insert myself into your situation; that being said is there an end goal you two both have?
Seems like you both hold a belief to prove and even if one of you did get that proof, it wouldn't/didn't change the decisions made by the company or have any affect on daily production. What would either of you gain with confirmation?
A moral or pride victory?