Member Info for willec

What about the successful oil drill in Saffron, I would have thought the success of that would be good for CERP?

Not yet - I am beginning to get very concerned about this. Something is a foot here.

What I find hard to come to terms with is we were near 5p before any of the successes. Now we have made a discovery which Leo Koot describes as company changing and lots of options and he is excited on Suriname we can't even make 2p per share.

Is it the fact he is excited because he is leaving for pastures new with a lot of money behind him. Why did Tony Hawkins come in less then a year and going nice working for 1 year for heavens know what and then swans off.

If this hits the eq. of 6p - I'm out far far to dangerous now. Looks like too CEO just in for themselves.

https://www.youtube.com/watch?v=ABniphoijp4

There seem confidence

After 18mins he said 'If you get in know it is time to get in'. Maybe this is what he wastalking about. Remember if BPC rises in gives a high value sp for us.

It is odd then how on April 26th, nearly 3 weeks in Leo Koot was interviewed, saying how good things were looking for CERP

https://www.youtube.com/watch?v=Nmn8Nk0MA9I#action=share

When he was 17 days into negotation with BPC

He said 'massive result for us and massive result for me personally' was that a clue and even when the RNS came out he was in negoiations.

During the interview he seemed very positive about the future whilst in talks on the merger. Something big is coming or he doesn't care about shareholders. He kept refer to the future and how good it looks for CERP. He said near the end he said we turned a corner, so maybe the merger was planned all along and hopefully we will reap the rewards. He said we turned the corner and 'the sun is no the horizon' - he was already in talks remember.

Bully1985, was that 2.4p only at the close the other day. I heard rumours of nearer 10p as spuding gets closers if that if the case will in be 8.3p instead. In all essence it does no matter than price all that is important is for every 100 CERP we get 83 BPC shares, so the price is irrelevant is it noot and please explain why you say it is relevant, ust becausse it was close of play the other day. Current price 2.90 - 3.10p (CERP mid price : (3p/100)*83 = 2.49p already and this may increase further next week.

Just to clarify if we are that cash poor we could sell some of the oil we have in storage. Instead of this we store it wait for a better oil price. We would not do this if we were strap for cash would we.

and what happened this week I am beginning to question if the shareholders will ever see a return. If Saffron was a success, S! free drill and then Trinity looking good then why are we struggling to hold 2p, when we were 5p last year. This can't go on for ever it makes no sense. Any sensible solution resulting in sp rise - we have oil what else are we missing?

Sensible people not the derampers please

What I don't get is we are produce oil ready to go to market and we are still in this position we have to re rate at some point. Hope oil continues to recover. LK was so please last month with the quality of the oil how come the sp is so useless. This has to rerate on its own at some point .

We are producing oil what more do we need to do?

I think being a sh of CERP, they have just increase their risk joining up with a 'one trick pony' in BPC thinking you have a duster with 70% failure. Not my view just unsure if this is a good deal for both parties - just praying for a successful drill from your side. People are you you have the better end of the deal as we are only gaining on risky drill. I know Uruguay have come on this week but we need your side to own an expanded portiflio of your own or CERP s/h think you have come to CERP for a safety net and because the deal gives us fewer shares we will lose. Praying it works out but fightened of a duster in Perseverance-01.

Spudding was meant to be in April 2020, any forecasts on new date. I assume operations slowly down due to covid-19. I have heard October 2020.

What makes you feel 10p on spud so much risk in the drill itself.

Think about it SWP is producing oil already, seem confident of S1, Trinity and Goudron, plus I can not see LK merging for a risk. He said he has completed due dillengence and is a oil master. Why merge with BPC if just increase of massive risk, no sense.

This seems a no brainer I can see it hitting the £1 mar and beyond when this takes off.

I heard a presentation a while ago, spudding was due in April. Obviously, with Covid-19 this was probably put back. Any new on when spudding might be. Did I see someone say 10p on spud. That seems excessive but interesting.

Thankyou Tex2374, I, as a CERP SH, just curious after joining you guys after the mergerwhat to make sure this will turn out well.

Thankyou Tex2374. Looking forward to hearing more on Perseverance #1 and with the experts in both companies I think this could be very successful, just need to know more about the geology around the site.

Bahamas Petroleum Company (LON:BPC) is in the final stages of completing the funding necessary to drill its inaugural exploration well (Perseverance-01) offshore Bahamas, which it expects to spud in the second quarter of 2020. The current valuation is inline with its peers, but with an estimated 1,030mln barrels of Prospective Resources (UBEST) targeted by its first well, a successful discovery will see the potential to see fair value rise to $1,014mm (36p/share), over 10x the current share price.

https://www.proactiveinvestors.co.uk/companies/news/912143/bahamas-petroleum-company---countdown-has-begun-912143.html

I ust can't understand all the negative on the board. We have more cash, more arcage. Leo Koot happy over last drill. Can see BPC over 10p by end of year with Saffron. Unsure over Perseverance well though and rather play it safe and hope we don't run out of money and can now grow the sp and mc