Member Info for Starchild

Tiabundy: Good point. Even better than 300 million shares, Stena could join the party for zero shares and a small JV for a percentage of the producing asset(s). Or a combo. Both are on the table as per the May RNS

Starchild

….predicts a good August on the BPC front starting next week.

There was at least one whale in the water Friday afternoon gobbling up shares including a large buy eod having delayed reporting. It could have been another pension fund/investment firm similar to Mersey or J Finn who wanted to wait until the merger was 100% guaranteed before buying. This wasn’t confirmed until Friday’s 13:38 RNS. It or they may continue to buy this week and other’s may follow for three underlying reasons: (a) expected news flow as early as this week and a deluge of RNS’s over the next few weeks, (b) Investors’ nervousness they will miss the chance to buy at sub 3p (ever ever again!) , (c) investors’ herding instinct during share price momentum gains.

If my psychic cat’s predictions are correct (including the secret pre-spud price and after gazillions of barrels of oil are found), I will reward it with an offshore trust fund subject to my clever moggy understanding basic words in Liechtensteinian (by someone with a Panamanian accent), and extensive training by retired SAS soldiers on how to handle aggressive HMRC/IRS tax interviews involving the use of a water-board and pliers.. ……..And………… being able to tell absolute porkers while undertaking a lie detector test despite being injected with sodium thiopental. If my cat is wrong on any of the above predictions……………. I will drown it.

Razor: good post this morning re Bloomberg opinion.
Harry: re your early morning Friday post about it being a good day, you were spot-on. There seems to be a very positive synchronistic correlation between the BPC SP and whenever you wear a mankini. Please continue to do so.
Goldenbull: In Yoda Star Wars speak, ‘As a new shareholder, to our BPC BB welcome you are. The Force be with you it will.’

Key takeaway: Strong buy.

Have a great Sunday all.

Starchild
Xxx

Hallowed: the 8p pre-spud price is taken from this research note (bottom of page) https://www.proactiveinvestors.co.uk/companies/news/913804/bahamas-petroleum-companys-investor-makes-first-conversion-of-loan-notes-913804.html

Based on the number of shares at the time and @8p would have valued the potential market cap >£170m. In fact SP hit 5.7p in Feb 2020. However this was before the additional CERP shares and earnings/leverage from CERP share assets came to play after merger. I believe updated expert opinions will be forthcoming in the next few weeks. However only you can decide what your estimated pre-spud price will be.

Starchild

The merger is now done and dusted and CERP/BPC RNS news flow is expected to trickle in from next week, with a storm of RNSs from next month. Please refer to the possible/probable list I created on 6/8/20 of what these could be, with additional very helpful commentary from forum members at the time.

IMO despite no significant news as yet, the current SP (2.6-2.8p) is still very much UNDERVALUED because:
1. The SP prior to the pre-merger announcement on 11/6 for both companies was a lot higher than today.
2. The formula used by experts to value both companies for the merger is a lot higher than SP today. (Refer to merger RNS 11/6)
3. The BPC SP peaked at 3.7p on 2/6, the week before the announcement.
4. The justification for the merger which was overwhelmingly accepted by shareholders, is that the combined operations/cost savings/efficiency/access to future funding is very good for the company. I consider ‘good for the company’ means an increase in the share-price!

And notably ….

5. Some investors will await positive news before buying or topping up, however others will do so in anticipation. If so, this may cause more demand than supply…..potentially from next week.

I’m a BPC LTH since 2014 and CERP holder since last month. I don’t particularly care if the BPC SP is 2p or 5p in the short-term, however all the above points to an upward trend over the next few weeks, perhaps even next week, especially with expected positive RNS news-flow. Exciting times!

All IMHO. DYOR.

Starchild
xxx

ps...I don't know why LSE auto censored my word sni66ger. I didn't use the word **** or ******** or ***** [...while using a gerbil].

Irene, kindly respond to my previous post. We're all ears similar to a gerbil.

Starchild

Irene pumpkin, based on your de-ramping posts, you are the sort of troublemaker who would buy a kitten, name it Siri and mischievously gift it to a young child warning her that if she changed the kitten’s name it would die of unhappiness. The selected child would be part of a huge family of iPad and iPhone owners and you would s****** at the thought that their devices would bleep all day when talking to the damn cat.

We (@BPC) would 'love [you] more', if you actually told us what your problem with the company is. All you do is complain, complain, complain and take pot shots at fellow posters who are up-beat. Tell us why you de-ramp. You probably can't because you are either a paid de-ramper or want the SP to collapse so you can buy in at a lower price. Prove us wrong with an intelligent logical response and I will accept it.

Starchild
xxx

MichaelF: FYI, quite amusingly in Aussie slang a shark biscuit is a kid playing on an Australian beach https://nomadsworld.com/aussie-slang/

Starchild

RNS just out. Merger done. CERP converted shares should show up for trading on CREST systems at anytime after 8am monday.

I was also correct that Trafalgar got a few extra shares for the lind loan replacement due to SP being +/- 2.5p. Point 9 in yesterday's post for possible/probable future news flow.

Good luck all. Next few months will be exciting.
Starchild

investo123, your shares will be converted at 80.3% BPC. The price this moment on BPC is 2.30/2.50 Bid/Ask with the last trade at 2.445. If this stays exactly the same monday, you are slightly better off as CERP Bid/ask was 1.70 - 1.95 (and a last trade at 1.82). It may go even higher next week

Starchild

Harry: On the beachwear front, I am currently patenting a way to ensure plebs who don't practice social distancing on crowded beaches can't encroach on my space. It is a 4 meter circumference type sombrero made of plastic with a compartment on the top which holds a small ice box for beer and soft drinks. It can also be used as a floating device. I will send you a prototype if you could kindly send us a photo wearing it with you mankini for global advertising purposes. Perhaps we can do a JV/farm-in together to launch the product.

You too have a great day buddy. Enjoy the beach.

Starchild
xxx

Clarifications and thanks re the possible/probable news-flow post yesterday afternoon:

Armatrading: Thanks! WNZ….Your Morgan Stanley research note on Suriname reserves potential and the link you provided was very useful.
Obadhia: Thanks. Will do.
Tiburn: Your Saffron RNS (my points 21+22) appreciated and noted.
Bryn/Harry: I hope you are both right!
Irene: Thanks for the lovely compliment. I was so shocked by the first three words, I fell off my chair, bumped my head and didn’t read the rest of your post. And I still haven’t.
LGO-fan: Please refer below.

Clarifications
I was careful not to state that ALL expected news-flow in my list, whether BPC or CERP related, would all have a positive affect on the share price. I used the term ‘impact’ instead.
IMO Points 1-3, especially point 2 re force majeure are of very little consequence, if any. However they are listed in case very fussy future retail investors especially institutional ones wish for total clarification on these matters as a pre-req prior to investing.

Use of acronyms in future
I will attempt to be clearer in future similar posts subject to LSE’s post size constraints. Let’s remember BPC LTHs and even new visitors to this BB know ‘The spud’, ‘Pers-1’, ‘Perv-1’ relates to the Perseverance-1 Bahamas drill. Some BPC LTHs including myself still haven’t quite got our heads around the acronyms used by CERP LTHs and which country/opportunity it refers to. Frankly, if an RNS was issued re CERP points 21-24 today, I personally wouldn’t know YET, if it met expectations, exceeded them, or the news was bad. The ongoing assistance of regular CERP posters would be greatly appreciated. We still need to hold on to your apron strings for your valued opinions.

Thanks again. Have a great day.

Starchild
xxx

Deal All,
Trading in CERP has now officially ended as we are now in the larger BPC/CERP merged family. Come and join us on the BPC BB. All constructive contributions welcome. Some LTH's in both/either CERP BPC have lost money. I hope next year all of us will have made large gains. Exciting times.

Starchild
xxx

Between now and the Persv-1 spud result, news-flow will likely affect the SP: c25% from CERP news and c75% BPC’s. IMHO below marked ‘M’ could have a MAJOR impact to share price, ‘S’ could have SOME impact, and ‘H’ WILL have a HUGE impact.

Expected news-flow
1. ‘S’ Legacy licensing issues resolved with Bahamas Government
2. ‘S’ Bahamas Gov has accepted the Covid-19 pandemic constitutes a Force Majeure event and date extended.
3. ‘S’ Bahamas Gov has accept the few Environmental Approval issues outstanding and has fully signed off the spud.
4. ‘S’ Merger: Heritage and Staatsolie Suriname consent to the merger without exercising certain rights or objecting. [Refer to appendix 1 of merger prospectus RNS 11/6/20]
5. ‘H’ Funding updates, funding updates, funding updates.
6. ‘H Expert opinions from Proactive, Shore Capital and others on SP / Market-cap leading to spud, and if oil found..
7. ‘S’ Insurance taken for the Spud.
8. ‘H‘ ‘The Stena drill ship will leave port on dd/mm/yy’. Stena have committed to stating the date sometime between 1/9-31/10. (Incidentally, spud result envisioned 30-45 days after arrival onsite)
9. ‘S’ Total shares issued post-merger to be below 3.5b. This figure includes Gneiss £500k success fee unless paid in cash (point 11) and a slight increase on the 80m shares due to Trafalgar (re Lind).

Possible news-flow
10. ‘H’ Institutional investor(s) commitment. (Gneiss Energy advisors to BPC made £500k on 27/7/20 from the deal. They have many institutional connections. See https://gneiss.energy/about/ )
11. ’H’ joint Venture signed with Stena for BPC and CERP exploration. RNS can appear any time from 1/9/20 which is only c3 WEEKS away. At the time the 26/5 RNS was issued, a possible Stena JV was announced based on $10m for 10% farm-in or shares. It valued BPC at c3.2p DISCOUNTED despite the SP that day closing at 1.58p!
12. ‘H’ Major Oil company may want to JV. Must pay to play with a substantial contribution to actual c$100m (and theoretical c$500m) spent so far.
13. ‘H’ BPC plans to merge with, or acquire, little explorer(s)/producers in distress, using funds from points 10-12.

CERP related news flow (points 21-24, courtesy of LGO-fan. For expanded commentary see his BPC post 29/7)
20. ‘S’ Possible deal done with Predator (PRD) for up to $4m. (but see point 25)
21. ’M’ New Contract for Goudron with far better terms, allowing for more profitable BOPDs
22. ‘M’ Test results from S1 (MC), and turning this into a producer
23. ‘M’ Start drilling S2 ASAP
24. ‘S’ Successful CO2-project
25. ‘M’ After Trinidad 10/8/20 election result, all committed to lower the taxes on oil production from >$50/b to >$60/b threshold.
26. ‘S’ CERP 2019 accounts. Market likely already expects these to be down-beat, but H1 2020 update in same RNS, likely up-beat.

I excluded general news from above lists such as Covid-19, PoO, USD-GBP exchange rate. Let me know any proposed edits to the next version. All IMHO. DYOR.

Very good post by Tomford8 on ADV.
'Bahamas Petroleum Simon Potter CEO describes Perseverance 1 well structures in detail https://tinyurl.com/y3ty3k9f '

Although we've seen variations on slides and PDF docs, the above live 10 minute presentation segment from last year greatly expands and explains the huge potential of Persv-1 at a detailed technical level. Well worth a watch. Perhaps some of you London based folks were present.

Have a great day

Starchild
xxx

IK: I’m delighted you are back! I’m clearly referring to IKing and not IKrapp, which the rest of this polite post is addressed to………..

Irene our precious, we are clearly having communication problems. Please read my post from this morning on potential dividends again, rather than quote it (or P-inv's) out of context. I have attempted to reach out so you can give your side of the story why you do not like the company, but you continuously refuse to do so. You don’t respond because you likely do not have any shares in our company.

These Irene communication problems are very frustrating and reminiscent of that swamp creature Schmeichel in Lord of the Rings trying to shyly propose marriage to a beautiful immortal elf girl by clumsily attempting to force his ‘precious’ ring on her finger. I personally would have just purchased the damn thing from Argos and couriered it to my target with a love letter using someone else’s photo, rather than having psychotic episodes. In fact it is baffling why this legendary talented good-looking Leicester City/Denmark goalie, allegedly spends days off cave dwelling wearing a loin cloth covered in filth with personal hygiene issues similar to Oil Man Jim’s photo.

[We wish to thank our generous sponsors Argos for this post. Argos has an amazing selection of inexpensive gold precious-es which can be purchased online. If anyone knows the whereabouts of the magic ‘precious’ from Lord of the Rings please let me know. It makes the wearer invisible and I propose our precious Irene wears it permanently so she can’t do her daily de-ramping of our BPC and CERP shares anymore.]

Starchild (AKA 'Starfish')
xxxx

I can hear Isle of Mann cathedral court bells in the distance. In some cultures it is customary to read a poem during a wedding reception which often results in older folk crying and the younger guests wishing to throw-up. So, in celebration to the BPC/CERP wedding made in heaven today, I decided to post a naughty share trading/marriage themed limerick.

There was a share-holder from Kent
Whose ‘thingy’ was so huge it was bent
When making love to his new wife
She’d hold on for dear life
Because instead of coming,…… he went.

Key takeaway:
1. Exciting times ahead for BPC/CERP shareholders. On our 1st wedding anniversary in August 2021, the 2.4p SP today could be over 50p…., especially if babies are conceived by then (other CERP type acquisitions using cash leverage).
2. New potential shareholders: For 60 minute deep dive, see https://www.proactiveinvestors.co.uk/companies/news/907872/bahamas-petroleum-set-to-become-a-champion-with-columbus-deal-907872.html and watch (top left) presentation on https://www.bpcplc.com/videos-interviews/ and always DYOR.
3. IMHO BPC=Strong BUY

BTW, excellent informative posts from Obadhia, Tiburn, Byrani yesterday evening on how BPC could potentially temporarily sell oil off the back of a [Stena] rig. If the underlying assumptions are correct, the potential annual dividend per share could be more than today’s 2.4p share price. But DYOR.

Have a great day.

Starchild
xxx

for a few months more. And join our pro-BPC team.

[I love the original way MichaelF posts stuff, so I reciprocated. Be assured Mr M this is not sarcasm, I really do like it!]

Starchild

Jmc, I regret you found my satirical post offensive. It is a shame that certain other persons bombard our BB with constant de-ramping. I wish you all the best. Have a great day

Irene, I do have political connections.

Your de-ramping posts are depressing. You appear to be the sort of troublemaker who would build a ‘my little pony abattoir’, secretly gift it to a 4 year old girl with a hacksaw, with detailed instructions how to use it on local pets without getting bitten or caught.

Starchild
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Willec buddy, please calm down. Posters like IreneKrapp usually exist to de-ramp for selfish gain, or are paid to do so for 3rd party unknown special interest groups. They are experts on how to to deflect from positive posts by their negative ones. 'She' managed to create several posts with you on this matter in a few minutes.

I agree people like this should be banned and I am lobbying with my MANY political contacts for same.

Starchild