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Wait till the yanks get hold of this later today. 8P minimum before CoB Friday
“Recent technical studies provide additional confidence, we believe, with last year’s exclusivity agreement with an oil major also providing validation. Whilst securing the necessary financing has taken longer than envisaged, we now see renewed momentum, tangible evidence of progress and scope for powerful share price catalysts in the months ahead.”
With the FARM IN we wont need the CLN - either way, we're confirmed fir DRILLING!
I was referencing someones comment earlier and Proactive didn't take into consideration the Farm in in any price estimate - it hasn't been announced yet or the terms of said deal.
What we can be assured of is that the BPC will be playing hard ball to get the very best deal for Shareholders
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.
Bonum: where do u get 15-20p on farm in...Proactive have stated 8 -9p
15-20p sounds good on the Farm In - it's what was suggested previously and no doubt, we'll find out soon enough, imo.
Way progressed from the current c 5p anyways.
Less dilution & a Massive RNS about to be released,
4-5p???
https://www.proactiveinvestors.co.uk/companies/news/913731/bahamas-petroleum-company-could-be-worth-double-as-perseverance-well-nears---broker-913731.html
Farm in still FIRMLY on the table - straight from BPC via Proactive Investors!
That pretty much means it's going to be announced shortly, imo and especially now the EA gives clearance for the Farm in partners to commit.
Farm in with respectable % very soon imho. and mid to high 5p's even before that. but wtfdik etc
4-5p then????
MONDAY!
Could be Tomorrow or Tuesday of course.....perhaps Wednesday, Thursday or next Friday??
The point is - it'll be BEFORE the 9th March CLN timeframe ie Anytime now, imo.
Atb
There's obviously a lot of uncertainty in the wider Market, due to the Carona virus issue etc - that 'should' be a transient and unlike the Sovereign Debt Crisis of a few years ago, which seemed to go on for an age.
A muted response to a fundamentally important milestone, is probably understandable from that perspective.
However, from 'near certainty' to 'Certainty' now regarding comfirmation of DRILLING.....which is what we've all awaited.
As previously stated, I'm expecting the Farm in announcement shortly, as I don't see how they could have concluded it without the EA - they have that now and I suspect all was agreed in principle, subject to the 'official' granting of the EA.
Farm in RNS in the next couple of days and before the 9th March CLN extension date....along with all the other Newsflow.
Do we really think the price will be at this level going forward???
Definitely.
No EA approval would have halted the drill and meant they lost the license as they couldn’t hit the 2020 drill requirement.
Even if we all though it was a given, this is major news in terms of farm in strategy.
No brainier now.
Major oil company risk management, may have waited until EA appoval granted before allowing formal BPC farmout negotiations.
Tomorrow the FARM IN Rns hopefully!
Just once - BOOOOOOOOOOOOM!
Feel better for that ;)
Unless we get FARM IN news tomorrow IK - then all estimates just go so much higher.
The article comissioned for Proactive Investors by BPC, clearly states Farm in 'FIRMLY' still on the table - the EA should now see that signed & released in a RNS imo
Exciting times as we move to drilling in a few weeks!
IK, your 7p by the end of the week looks to be on target!
Well done mon ami!
Lol, lots of people are somewhat upset they've been left on the sidelines - but they're likely the ones frantically Buying straight on open with no doubt many going to NT!
As the proactive investor article points out, we now have multiple News pieces to be released and leading up to the actual drillind - all within the CONFIRMED timeframe.
Don't waste time whingeing - BUY and relax for said further RNSs and the FARM IN, imo.
Atb
The FARM IN may overide any need for the CLN, hence why we expect it to be announced ANY day now and before the 9th March....and now the EA has been granted.
The CLN was likely a tool to facillitate the other funding aspects of the upcoming drillung campaign AND to encourage the Farm in partners to conclude a deal on BPCs terms.
The BoD are heavily aligned with shareholder interests.
Really pleased with both my BPC & MATD holdings.
Atb