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I thought you was a LTH SS..............!
apologies...........!
All the best (and good luck ....... :)
I know we don’t want the SP at this price but I’ve never know them so stable!
Settling
Chesh "days ahead" the warrants are good for 12 months, I do not think they will affect us in the shorter term.
Not forgetting the warrants @3p and 4p..............!
more money for Saffron #2,3,4 - 8, Suriname, and ex CERP in general......... :)
All the best (all on one drill result...............! :()
" is it too much to expect a weekly update?"
No, really we should be seeing regular updates with so much going on.
Prospect, the BOD made it very clear in an RNS that this was a 'tight hole' drill - no information is expected, until the drill results are known.
Personally I interpret that as not hearing anything about the P1 drill progress until at the very least, 45-60 days have passed.
Todays RNS clearly shows that the hedge fund have been selling shares at under 2.3p
I also note that we did not get an RNS showing the call had been made on the latest put, that's not to say it wont be taken in the days ahead.
So the current overhang from the Hedge Fund = 217,713,481 and the placement due tomorrow Friday 15th = 196,875,000
Total known over hang = 414,588,481 (from 8am tomorrow)
If the call is made and the Hedge fund choose to double up = 375,000,000
Total potential overhang = 789,588,481
Hopefully we get some news to help clear the overhang.
lordie..............! lol....... :()
you've completely missed the point there icemax, ahhh capt........... !
All the best (catch you later........... ;()
Of course, CERP gives life after P1. I don't care if the BoD eats. You eat, I eat we all eat. Fine by me. If the BoD just eats BPC won't be round for long. I'm sure BG knows how this system works very well given it once was a piratical republic. Though sometimes BG forgets it's roots and just seeks to eat everything and just like BPC it won't be round for long if it did but rather go cap in hand to world banksters, IMF etc.
Besides, the more I look at CERP assets the more I'm recognizing the rationale for the acquisition.
Tullow - HUR more recent examples of “fluids” GEOLOGICAL finds which proved worthless
I think part of the challenge by the opposition was that BPC were not funded (enough) at the time in the event of any unexpected drilling issues that could prove detrimental to to the surrounding environment. Could this more than generous deal that BPC have given to Lombard be in preparation to ensure they don't lose the battle in court. Just summising!
I find it difficult to believe that SP would take an almighty gamble on such a deal knowing the consequences for both the company and its share holders should the drill results not be favourable to increase the share price substantially.
Lombard must be clicking their heels, they can't lose. They are guaranteed a return on their investment. What would you do in their position? I would sell enough to double or treble my initial investment then hold some for P1 results. Still a win win situation. Then again I could be completely wrong and talking through my fart pipe.
Either way only a mad man would offer such a deal to Lombard if he wasn't super confident on a positive outcome for both Lombard and BPC.
Are we destined to bump along the bottom at 2p until results or could we get any other news that may lift us off the bottom.?
but, besides which, if you can't detect that - and the other 1ms - as sales in the pattern of trades, lordie. But anyways, back on filter you go.
I stand correct Irene , Gives the BOD life after Percy
The point I’m making which anyone familiar with this kind of drill will back up is that at this point the BOD can not know for certain if they have a COMMERCIAL discovery-
lest we forget the example of Desire petroleum ... DYOR
cheesybits, stop being a cheeseskate, buy yourself a decent L2 like quotestream buddy.
PoC............"They will also be looking at the drilling mud and taking samples for hydrocarbons."
by Helicopter.............!
All the best (by all accounts............. ;()
Bigsi You are referencing fold A (but you know that) the Fold B chances of success COS are 26,23 & 35%, they are not commercial percentages because they do not cover the cost of extraction or current oil prices in these reports. How ever as the low case discovery levels are 400mmb and BPC have said 200mmb is commercial then it should be commercial.
Here is the Moyes report link for A COMPETENT person’s report..
https://d1ssu070pg2v9i.cloudfront.net/pex/bahamas/2017/06/07132506/bahamas_petroleum_company_plc_-_cpr_july_revision.pdf
BigSi - So are you saying the Geologists in the onboard lab wouldn't know the difference in the cuttings between water and pay dirt?
I am a LTH here, over the last few months my confidence in the BOD's has waned, I get the CERP deal, that gives us life after Percy, what I don't get is why do a fund raise now for a trifling amount, keeping in mind Percy has been fully funded for quite some time now, (or so we have been told on many many occasions) as far as I can see the funds raised this time around are for the long term (18months) development of ex cerp assets. If the BOD were so confident of Percy then why not wait until the results come in, or we get closer to results time when the SP would or should have been much higher , then we could have done a fund raise on our terms, not with what is akin to a "payday loan"
all my own humble opinion , ready to be shot down by anyone who can put a shine on this current sh*t show
They are using the most advanced LWD and MPT tools as they drill, so they will see a suite of data in real time as the drill bit goes through the formations and targets. The tools will detect hydrocarbons in all it's phases, so they will know what's down there while the drill bit is turning. They will also be looking at the drilling mud and taking samples for hydrocarbons.
i for one wouldnt want to be out of bpc when the MMs are tight steading and about to go boom
Very tight spreads, interesting ...
Booom anytime now
Bigsi.
Another one to the green boxes.