Member Info for ShouldveSold

Lol fair enough. As you were.

Ok Bully this post doesn't not contribute or add any value to the discussion. Who wakes up at 7am to troll? (._.)

Well full year figures will be available around the 3rd week in June so we can all read the official numbers then.

Bo, this is an important conversation to have because its realistic. And everyone can read it & be compelled to do their own research to make whatever decision they think is best.

Star

Forgive me, your posts are set out exactly like an RNS in my opinion.

Apologies if you feel aggrieved by my initial sentence. I understand a retort was necessary in order to protect ones integrity.

I do think its important  to read the positive, negative & realistic posts in order to balance my own research and opinions. Choosing not to read a particular vein would give me an unbalance view.

You are a numbers man and all about the details, I am surprised you would use the word profit. It suggests a year end net profit after tax. Thus the position of ones eyebrows.

Star

No offence meant here but some of your posts strain my eyebrows.
We've got another poster claiming there are paid stock slaters here, which one presumes are from boiler rooms; which are professional traders but you claim they are amateurs, but yet BPC rallies 30% yesterday. I mean if you both believe they are here doing the Devil's work, they haven't done it very well have they.
They started when the SP was at 5 year low, it hasn't dropped any further, if like Bo, they did indeed open a short at .45 & now its rallied 30% they are now in the red.
I'm sorry, we all need to believe in something but if anything, one should both be rejoicing & welcoming any failure on their part.

Correct me if I am wrong here; BPC is not currently generating $250k "net profit", but $250k cash flow. All of which is being and will continue to be reinvested throughout 2022. I am pretty sure I read that BPC is forecasting a full year $-4.6m loss.
Honestly I believe these posters who are seen as slating the company constantly are baited to by some of the things you post.

I don't know how you have managed to reallocate company funds to settle different financial matters.
We are all free to make our own interpretations but jheez let's not be guilty of posting the equal & opposite things that these amateurs you claim are doing.

*facepalm* Uruguay does not have proven reserves lol. No oil has ever been found offshore Uruguay. Like the Bahamas licence they are unproven licences which is why no Major bid to buy them :|

Deltalo
Just to make sure you haven't misread the RNS:
Thats up to 30 Wells by year end 2022.
Its a possible 1-5 Wells this year (maybe up to 9 using the NR method) So up to 1500bpd by year end not including WNZ.

PI, I hope the same but I don't know if these are mostly momentum trades this afternoon & if a lot of people might get spiked today.

Ok Fatal, let's not get ahead of ourselves here. Its hasn't even been 2hrs of unexplained movement. Let's see what the SP doesn't tomorrow.

Interesting 32% pop up with no news this afternoon. Looking at the volume bought/sold ratio, it doesn't explain the SP movement.
But hey I'll take it :)

NellyB

After watching the recent CEO interviews, BPC are looking at a Farm In; from my interpretation "as a insurance policy to get 50% of the costs back". That would be a Farm In buy in cost around %
$65m+ for the updated basin data. I don't know how much licences or data goes for, but that's rather expensive don't you think? Or is that fair value?

I am confused as to why should another company reimburse BPC for any loss in its pursuit of oil exploration in a unproven licence.

If the P#1 had made a discovery then a Farm In value of tens of millions would certainly make sense to me.
BPC will go from 124,000²km down to 6000²km. I don't know what that says about the confidence across the basin to discover oil to everyone else, but I know what it suggests to me. I don't understand how anyone can make the leap to thinking the Bahamas licence is worth tens of millions of $/£ with currently zero proven OIP & only estimates based of 2D/3D.

GG

I guess my question is why would a oil Major, midcap or any company want to buy BPC? What service of value does it provide?
Surely the question should be; what assets could be bought from BPC.

What company would be interested in paying £30m for a portfolio of Wells which is only producing circa 450bpd? Another mircocap?
When production is up to 2500-4000bpd that would certainly make more sense to speculate a acquisition of a licence from BPC.

Well I think "BIG profits" is fairly relative. From the corporate update BPC are planning on reinvesting all income on capex for "rapid & accelerated" growth. So we maybe have to wait till interim updates in 2022 or even full year June 2023 to claim BIG profits.

Star

Trinidad:

•the reason the "market values this as peanuts" I would argue is because the SWP is not currently producing any oil. Yes it has already been established as a discovery but until its flowed, the market cannot put a higher value on BPC than the current 2P reserve figures.
•BPC is currently projecting a year end net loss of $4.6m
•the market cannot value Suriname until the appraisal well is flowed. As I have argued previously, flow rates is what determines value, not OIP, but I accept not everyone agrees with that opinion.
•Uruguay like the Bahamas licences are currently liabilities until they generate income so cannot be classed as assets which have value. Neither Uruguay or Bahamas have offshore discoveries or producing Wells.
No current CPR exists for them so its impossible for the market to assign a value to them.
Anyone can choose to take the view that its the markets fault for undervaluing these licences or misunderstanding them to explain the SP. But until they produce income by either oil production or a licence sale or Farm In, they have little value. A CPR may add a nominal figure but it would probably be the cost of the licence renewal, nothing more.

I looked at the WTI average during 2019 and you are correct. It was around the mid $60s for the majority of the year.
I cannot recall the lifting costs for the net back figure for T&T. But your point stands.

So if CERP was actually making $10-20 per barrel with production between 300 -500bpd. Then falling to circa 200bpd, finance was always going to be an issue with the road map outlined.

I share your concers about deploying capex. The next 3-6months will answer all the questions I have about the current CEO & BOD.

Well I am not going to speak for  L.K or defend him. I accept we disagree on his tenure. If I didn't have faith in the board or the company direction, I would no longer invest or I would stop holding. Unless I was locked in and couldn't swallow the loss.

I think if WTI was steady at $70 during the L.K tenure, CERP would of been in a much better position & would of posted both a higher top & bottom line.

Well he's got everyone believing a Farm In is imminent. I'd say he' s good PR man.

Addendum: He is a good PR man ! I believed the Bahamas story he told in October LOL *facepalm*