Bahamas Petroleum Share Discussion Threads

[offerman] 13/11/2020 05:37

Edit: Word about what Leo said about himself should have been "persuasive " not convincing in my post.

[offerman] 13/11/2020 05:28

Hi Kazz, I agree, lK promised a lot and much of it didn't come off. He was over enthusiastic at times ( which hold my hands up I probably was too at times through his tenure at CERP as rubbed off, just trusted in what we were told ). I also agree that a lot was bad luck too. However, I still think he did a good job from what he took over and sorting all the legacy and non infrastructure he did well. Yes dilution occurred but really was our only way out. I didn't realise our finances were so bad hence the rational for us being T/O /merger . Leo has a lot of time in the data room of BPC so trusted him on this too. We came out far better off than when he took over when we were nearly bust. BOPD wasn't great because of financial agreement constraints , poor topology sands. Profit just wasn't there , production wasn't justified etc. The first 10mbo tax free deal was brilliant imho Saffron , well that's speaking for itself good job by Leo and whole drill team . Waterflood , wasn't a failure, pilot connected charged wells , and thus BPC to roll out field increase on this. Decline of bopd wasn't good but justified at the time , conserve cash what little we had . Focus it on our best assets as they did with Saffron. Let's see what Suriname brings too. My conclusion : Some over promises and initial over enthusiastic traits from LK which rubbed off on myself and some others ( he's also a good salesman , and in his own words , " oh I can be very convincing when I need to be ". ). He sold the Goudron huge percentage legacy well gains only to be a flop , should have given more time testing before that reaction . He had others took shares too( a lot of them ) to align . Think he took on TH to start to wind his position down , that came as a shock to me tbh and sign things weren't right . Cracks signs were there things weren't good and maybe disagreement in the background between management . As is often the case though they all did very well with payoffs especially TH only being there one year and nice £150 k payoff ( open for correction ). Overall some very good, some very bad, some spin , some good deals , some bad results some excellent deals too, some very bad negotiating too with final deal sold out on the cheap. Oh, some delicious food and deserts though at the presentations :-). We certainly were a bag of liquorice all sorts if I had to compare us to a confectionary . Good decision as of yet to be taken out by BPC , just sold out on the cheap imho . Same as you Kazz, I liked the man a lot and still do.

[linton78] 12/11/2020 21:52

I’ll waste a bit more time here if I can make this much money... :-)

[kazz] 12/11/2020 21:51

Read the board everyday EC, but unlike you, you keep the board alive with your enthusiasm, as well as JCG of course.
OM,Leo promised a lot, like most CEO, but failed to deliver, probably not his fault, but down to circumstances. I liked the guy, still do.
Hopefully, all being well, we have another bite of the cherry. Looking that way anyway.
One day we will have that meet up party
GLA
Regards...kazz

[specialist protector] 12/11/2020 21:48

Eggy / you are clueless. Runaway with bin 🗑 boy Linton - you are wasting your time here. Muppet, loser, idiot in the dark.

[specialist protector] 12/11/2020 21:48

Eggy / you are clueless. Runaway with bin 🗑 boy Linton - you are wasting your time here. Muppet, loser, idiot in the dark.

[offerman] 12/11/2020 20:08

Hello Kaz,Just got back in from long day work after being awake since 1.30am :-0. Not only I feel like s zombie but most definitely look like one too. Thank you very much for your kind words and am sure you are right about time factor. Yes you are spot on about I wasn't keen for the merger. I once invested in BPC ( not a great amount but have followed them for years their story to this still). Don't get me wrong I liked BPC my problem at the time was the price we were valued at. I still stand by that , so after a while after it all sinking in the merger /TO made complete sense at we were cash strapped and Leo did his best with what we had . The part I stand by was/is My problem was Bearing in mind we had a discovery at Saffron 11mbo REC NPV of 91m$So even if you discounted the discovery by 50% that still would have made it 25m$ more valuable than the merger/TO itself. 20 valuation plus 25 to make the 50% which still half of the 92 NPV . Now that's not including all our other assets producing ones too. So in short now. Leo did best thing agreeing to merger /TO Yes I didn't agree but do now . I still think we were very undervalued with what we had at Saffron let along everything else . But what's done was done and the future looking very bright . I would have preferred a one for one deal and that still would have been s great discount for BPC . Just thought I'd answer you in detail on my opinion on that one. Thanks for mentioning it though . Take care too have a nice evening all onwards and upwards We all deserve it for sure . Hi egg , yes of course I'll give my take on the CPR . Many Thanks

[eggchaser] 12/11/2020 19:37

Got to love some over there I mean what muppet says the CPR is a rehash of previous ones - I can't recall Saffron ever having such a thing!! Priceless!!

[eggchaser] 12/11/2020 19:34

Once again credit to StarChild of LSE fame - no minks from Denmark here if you are reading!!So good question below - Offerman this is one definitely for you to answer!When we get the competent persons report (CPR), perhaps as early as tomorrow, it would be very useful for CERP LTHs to give feedback. Simple question being, had it been released pre-merger, what affect do you think it would have had to the CERP share price or market-cap? At the time of the June merger recommendation, excluding the premium paid, CERP was valued at c£20m. Your opinions, other than Irene's, will be greatly appreciated by all. Other points1. As a point of note, when the BPC share price goes above 3.7p, it will be higher than the 7/6/20 inter-day high soon after the Stena announcement, and will be higher than on 9/3/20 just before the Percy-1 Spud was delayed due to Covid-19. (Source https://finance.yahoo.com/quote/BPC.L/history?p=BPC.L )2. Interesting facts about the $1B IceMax https://www.stena-drilling.com/stena-icemax-dnv-gl-managed-pressure-drilling-mpd-notation/ . Some of the high tech stuff on the ship, may mean the spud project will take less time and save BPC money. Lots of news awaited! GLA.Starchild

[eggchaser] 12/11/2020 19:13

Oh look Ugly is back... still it's dark so you can venture out as you won't scare the kids...

[specialist protector] 12/11/2020 17:54

Eggy / you are clueless. Runaway with bin 🗑 boy Linton - you are wasting your time here. Muppet, loser, idiot in the dark.

[eggchaser] 12/11/2020 17:48

I wondered what had happened to you Kazz - looking good so far - I can't wait to see that CPR report and what they do with S2 - going alone speaks volumes to me and says that Saffron has secrets to reveal....

[eggchaser] 12/11/2020 17:46

Might be an idea to do some research - check the header and indulge yourself in as much as you like.Serious investor then Robo?

[kazz] 12/11/2020 17:32

Hi Offerman
Hope you are getting through your dark times, time is a great healer.
I know you were not so keen on the merger, but things are looking brighter now, I think you will agree.
Take care, and I wish we all come out of this with a smiley face
Regards.....kazz

[dogsoggy] 12/11/2020 17:29

Its the name of the driller ship Rob.

[robo28] 12/11/2020 17:15

Hi new here , what's the Stena and ice max all about ,

[eggchaser] 12/11/2020 17:11

Ohhh little sissy active today?? What's wrong / your boyfriends left you all alone??? Awwww bless...

[specialist protector] 12/11/2020 16:35

Idiots in the dark - when your Messiah - the omnipotent one declares a stock a BUY then it will go up. At the moment it is a BUY. Rejoice especially my rottenegg - REJOICE as you give your back hole to bin boy Linton. Hallelujah hahahahh
hahhhahahhah
hahhahhahahha

[alasparavolar] 12/11/2020 16:04

So Ugly. How does it feel to have sold out at 2.35?Must burn bad eh?