Member Info for ShouldveSold

I note to be accepted and respected on this forum, one has to post optimistic and upbeat opinions. Where as if one posts opinions which are based on reading between the lines and trying to make sense of the avaliable information, one is berated & made to feel like outcast.
As if to suggest one shouldn't be trying to make sense of it. Just accept what you are told & do not ask questions.

But we are all free to think someone is an idiot for the opinions they have & the way they think.

I will say that I have never called my investment crap. Never called the company crap. Never disagreed with the company's direction or projects. I have questioned whether BPC is big enough to attempt off-shore exploration because the cash flow from current operations. But I voted yes to the merger so, understood the amalgamated company was prioritising P#1.

I'm of the understanding that to drill an oil well, depending on where you are in the world, gaining all the relevant approvals and permissions by the various governing bodies can take anything from a month to a couple of years. I don't know if BPC has been granted permissions to drill back to back exploration Wells. I don't know if its been stipulated that if P#1 makes a discovery or finds structures with the Data gained,  that they are then allowed to ask the Stena Boys to hang around because the may be required to drill another structure that was found.
I thought those Stena Drill ships were booked for months in advance.
I accept that with Covid and the current appetite for oil drilling, fossil fuel consumption and the dire need to move into greener sustainable energies, these drill ships may have spaces in the diary and are available to be hired at a few week's notice.
But if someone does that have information which clears this up, please share to educate me.

Looking forward to imminent news on the Saffron 2 spud :D
Share has been oversold IMO & slightly up from a 5 year low. The only way is up <--- that's optimistic right?

Wonderful news this morning.
I expect phase 2 drilling and test sampling will finish in Q2.
When will the application for the conversion of the exploration licence into a full prodiction licence be submitted though?

RE: NellyB

I want to ask you "Stupid to whom"? But I'm gonna go with "in NellyB's opinion".

I see it like this, forgive the analogy;
The Bahamas licence is like BPC's number 10 star centre forward. They bought him to bag 30 goals this season and he hasn't scored a goal in 2months. Now he's injured and can't play any more games. Maybe injured for another 12 months.
Does BPC renew his contract & continue to pay his wages in hopes that he will be fit by next season? Or do they let him leave on a free because his contract expires in a couple of months?? Is another team gonna spend millions on poaching him when he can leave of a free in June?
Lol this analogy was crap. But I hope you get my point.

I honestly don't know what the best decision for the business will be. I'm sure you know that exploration licences come with clauses that say wells need to be drilled by a certain time and other works need to be carried out. Does BPC currently have the funds to carry these obligations out? Is another company willing to share the licence or poach it? I don't know.

With the Data the Bahamas Gov have, do they now want drilling to stop because of environmental concerns based on the non commercial find? Or do they want their oil found & out of the ground sooner rather than later & want a company who can prioritise and expedite operations?

Yes BPC has spent over $130m on the Bahamas project but thats non refundable.
I don't know how much that data they have gathered is worth.

(._.)

RE: Jimtheknow

Did you note the details in the Total RNS where they list 63 meters of pay & the types of oil. Which was released on the 14th of Jan 2021 whilst drilling was still taking place, now concluded on March 10th 2021.
They released those figures because its market sensitive news.

RE: NellyB
Unthinkable to whom?

RE: 21alpha
I don't know who Irene is, but prefer to keep the debates on business opinions rather than personal.

LOL

RE: 21alpha
;,)
Aww guys...... group hug

RE: Harryoffdock
Good shout Harry. A lot can happen in 3months though. P#1 took 2 months to complete lol

RE: StarChild
Appreciate the nod in your Strong Buy post today.
Good debates from different opinions always spark thought trains, which is why its great to have them with people who don't agree with your opinions :)

I'm understanding now that you are a fact & figures man and you only base your posts on them. This means I have to tailor my questions to you very carefully because you will shoot holes in any theory or viewpoint with a fact lol.

I will say though, even though your post has made your position clear based on the info you provided. At the risk of being banished by everyone here. >_<
Being asked for an alternative viewpoint to be PROVEN for your viewpoint to be disproven, I think is a impossible task.(._.)
Both viewpoints are interpretations. But I acknowledge you mean "to convince you otherwise" :)

Personally I have never, nor would I ever make an investment decision based on a Outstanding Tax Loss. I understand that is not the sole reason you are basing your sentiment on, instead you are highlighting the upside potential based on the Tax info & company valuation.

Is it possible that another company will spend $30m to save $85m in Tax. Absolutely!! If thats is what anyone wants to buy into, great. We are all free to invest where ever and for whatever reason. DYOR

I'm invested for Saffron. I believe its a monster and a company establisher. I think if they can daisy chain these wells with increased production coming from each well funding the next well in the chain, that's how BPC claws its way to not only 4p but beyond.
I was never here for the Bahamas or Uruguay assets that came with the merger. If P#1 was commercial it would be a different story but as of now its not. And reading now from the Auctus document that the licence is up for renewal, it poses more questions for me.
•does BPC surrender the licence
•do they renew it in a JV retaining/ losing operatorship
•RNS states to focus on Trinidad and a consolidated balance sheet. To me this suggests reducing liabilities. Whether that means a sale, a licence/s surrender, job loses or equipment cuts...I don't know? But its an unanswered question for now.

I have learned through experience that investing in an undervalued company doesn't necessarily mean its a good investment decision. Value realisation can take years. Years which can turn into bitterness. Years which can turn into misplaced faith & the need to be proven right just so one can break even.
Who said "gotta know when to hold em, no when to fold em"?
:D

RE: StarChild
Acknowledged lol and appreciated.

StarChild may I ask your opinion on Close Out Costs of the Stena Drill Ship & whether you think current cash balance, cash generation from prodcution or loan facility will be used to settle these.

RE: EggChaser1

PIERS...COME BACK :(

RE: DesPardo
Looks like you & Eggchaser1 are buddying up for a tagteam lol. But I also accept both of your opinions are different to mine.
Would you class " I very hope so but it could end up with us back at square 1." as a negative post or a realist "wait and see" post? Forgive the loaded question.

RE: EggChaser1
As I have previously posted, I am here for the engaging debate of opinions. If I read something that poses a question, I will ask it. If if read something that I don't agree with, I will post why I disagree. I think its odd that when I don't agree with you or choose to change my opinion and belief to yours, you have a reaction.
You claimed I bashed the CEO, I asked you to quote me. You didn't.
You claimed I bashed my investment, I asked you to quote me, you didn't. Although I think this claim is based on my username.
And you have claimed I am being mischievous by from what I understand "urging people to sell with my negative posts". I am gonna ask you to quote me specifically when you think I have done that. I have only been here a week so it shouldn't be much to scroll through.
I hope the following helps;
I am disappointed in P#1 not being commercial.
I am waiting for a RNS detailing a Farm IN. Until we get one, the jury is out.
I am upbeat about the untested Saffron Zones & a 2nd Saffron well and the updated daily production figures. Not at any time have a suggest its a great price to get in the stock nor suggested people get out of the stock.

Ding ding round 3 lol

Guys, have you ever been accused of manipulating a share price with the power of your posts?
Yesterday I was accused of being "mischievous " by "urging people to make their own mind up"
(BTW is making your own mind up classed as DYOR?) I think by Jedi Mind Tricking them into buying.....it may of been selling, I'm not exactly sure :S
But being as the SP is at a 5 year low, I think it was....... urging people to buy? Erm I made an upbeat post about Saffron but then a downbeat post about P#1 so it may of been urged to sell.

Selling at 5 year low??? That can't right... wait I think I need to re-read my replies and my posts to see where I urged.
:S

RE: EggChaser1

Oh crap we were doing so well. Lol 1 step forward, 2 steps back eh.

To your point I do accept the reason there were no published numbers in the RNS is because the numbers haven't been analysed fully and the data is currently being compiled.
The thing which I cant ignore is the non commercial declaration with the P#1 Well, also the "releasing of price sensitive information".
I think if they would of discovered a massive formation within the drilling zone, they would of had to inform the market of that.
From the RNS I've interpreted it as, there are possible other locations within the licence which could contain significant volumes of oil, but we haven't discovered them yet. We may have a company that is willing to help us look.

As to where you think I should choose to invest, I don't think has any relevance.
Sorry we on opposite sides of the fence on this one. I retain the right to hop on your side of the fence if a Farm In agreement RNS gets released though
:P

RE: EggChaser1

At the risk of snapping the olive branch :S
I'm gonna say that I disagree with your "no one can argue that point" comment.
The RNS contained very little info, and zero mention of numbers. So what that does is, it leads to speculation & interpretation in trying to work out what it could all mean. We are all free to make those arguments here and debate our points.
So based on the RNS, P#1 is a dud. P#2 however may discover 2billion barrels that flows at 75000bpd. It could also find 8billion barrels that doesn't flow commercially. But until a RNS states that, we are all here speculating.

I have never bought BPC shares pre-merger.I've bought & accumulated LGO/CERP shares. And then bought a few "BPC" leading up to the drill in hopes of a company transforming discovery.
But I was always investing in Trinidad because that's where the cash generation is coming from.

In my opnion this drilling off-shore game is for companies that have a cash generative income which allows them to explore without the worry of finding dusters, not a tiny company which generates enough cash to cover operations, pay wages and the boys bourbon biscuits for their tea breaks. And maybe even a Christmas party at the Savoy.

RE: Tiburn
Lmao how did I miss that???? I was thinking "should have said "
:D :D :D

RE: EggChaser1

Blimey... an olive branch

:,)