The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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with a bit of luck the UK stock market with smack itself with the FT in the morning and people, or should I say the investment banks will start investing again and our beloved BPOC can start being properly valued again ! Nasdaq and SP500 have both done well just waiting for the close
IK,
After the Guyana find the sky is the limit. Well, anyway the Cuban's have an old saying, "Oil is everywhere". Sebastian Ocampo, Cuba had oil in 1508. Nothing new under the Sun.
Bryn.
I presume you mean £5.26p mate!
armatrading,
He's a good friend on the roulette wheel ;)
Martingale is a scary fellow, I tend to steer well clear of him.
I'm of the view that the current SP is at a discount to the news. We should be near 6p. So, anyway, I've drifted into FX markets today fine tuning a martingale bot for a purpose I have in mind.
Harking on again about that last interview with SP. He does mention being fully funded for the extra drill too. He mentioned the .8 billion "and if successful will derisk the whole of the B structure which will hopefully give 2 bbo which we are drilling at 100% equity."
He does sound quite confident.
On a different note - 2 sales reported 161 and 165 for 526 shares each at 4p, wouldn't it be nice to see us at 5.26 tomorrow? ;@)
Robbo - no offence intended.
I was just adding to IK's 15:23 post.
opinion always welcomed.
However, to paraphrase Tim Minchin, "opinions, unlike defecation tubes, (sounds like 'Bar Souls' but for the avoidance of falling foul to the moderators I opted for a more poetic expression) should be vigorously examined"
IK - and so do we.
P_I - and that is why we are here, either that or we just pop in to share stories of good food, good wine and places in London where both good food and good wine can be consumed once this plays out as we hope it will.
(either that or we are here to trash talk the share in the hope of buying in lower / ramp the share to sell out higher - or for the really big boys do both at the same time on a rinse and repeat model)
like you say... its only 40 million and who's to say they'd sell anyway.
Farm-in is still in play (to my simple mind) because... well, we're talking circa 1.2 billion barrels and that is super six territory; always has been. All the quotes, statements and interviews point to it. So much so that BPC plaster it on their homepage!
However, I think the terms have changed because BPC are looking beyond the 1 well drill to fulfil licence obligations and more at the appraisal side of things.
Think i'm counting my chickens..
yup... although im thinking we dont know the % split.
Last year we'd have taken anything (to a degree). Now... hmmm, not so much.
Robbla
“Majors know enough by now to make a decision and so do BPC.” and so do we!
I cant believe that we're talking about a question '?' and its meaning.
BPC I guess could've added (instead of said '?') On-going discussions with 3rd parties for Farm-in.
However, I think they've just had enough and just put it in there for grins.
Majors know enough by now to make a decision and so do BPC.
I just meant that BPC couldn't make a definitive statement of fact, so it would have to have a question mark. I agree that it it is interesting, but IMHO it doesn't tell us any more than we already know.
There are no legal implications for that question mark. Legally it means nothing. But why is there yet not there in similar paragraphs/points within the same presentation. I have not and am not making investment choices based on it, I merely thought it would be good to share it with others.
I can't see a subliminal slip occurring between a pair of brackets. Also, everything will have been checked and re-checked, as there are legal implications for errors.
Everything, when presenting officially to investors and shareholders is done on purpose.
Using occam's razor, why was the '?' there
'subliminal slip by the author' really? Do me a flavor.
What I found interesting was the question mark ('?') in the slide on page 13 of the 20/2/20 London presentation, point 7!
I belive it was a subliminal slip by the author, because a lot of negotiating is happening with potential farm-in partners behind closed doors.
It's also interesting that 'several interested parties' are at the negotiating table, hence unless there's a working towards a multi party agreement, one of those parties may indeed look to get a jump ahead of its competitors .
We don't know the intricacies of those negotiations, hence can only speculate but it looks like a compelling situation playing out behind the scenes.
Hopefully a good move to make up losses of the last few days today and before further RNS releases.
Atb
moreover its tax deductible if it does not deliver ! and if it does a game changer ! So if not a win win then at the very least a win draw.
Interesting facts about BPC and where it is today
1. In April 2010 when BPC floated on the UK AIM market there were 860,000,000 shares.
2. Oil was at c$100 barrel when BPC peaked at 25.697p intraday 4th Feb 2011.
3. This gave BPC a market cap of £220m/(@1.60=) $350m in Feb 2011. This was equivalent to 10.2p based on todays 2.1 billion+ shares.
4. On 9 Aug 2018, an intraday share price high of 7.4446 was reached. Using round figures of 2.1 billion BPC shares, this made the market cap on this day £160m/$210m. Oil price was $70.
5. However the peak 25p 2011 share price and $350m market cap was before EA approval, before any sign of oil and prior to BPC exploration having seriously began.
Other interesting points:
6. AIM companies managed outside UK, HQ'd on Isle of Mann, pay no corporation tax
7. BPC royalties to Bahamas if they find oil is between 12.5% for 75,000 barrels per day to a peak of 25% for 350,000 barrels per day or more
Despite the coronavirus influenced low oil price and BPC's need for survival cash and further exploration investment if the well is dry, Farm in options could still be on the cards. Perhaps the BOD has already been offered options in an MOU, in the last few months, but on PUNITIVE terms. What has changed is the EA and BPC's intent to go it alone. As such it has made the BOD's negotiating position stronger.
Bottom line: If I was an oil major I would seriously consider the potential 10bb oil (id 1b is found by June) and do a farm in ASAP. A farm in for 5 oil exploration wells and 5 years cashflow for BPC is PETTY CASH to an oil major.